Market Recovers After Hitting A Month Low

The benchmark index recovered from a bargain hunting emerged after the market hit the lowest in more than a month. Extension of the market was positive. BSE Sensex rose 2.55 points, or 0.01%, almost 80 points lower than today. Index heavyweight Reliance Industries top cut bargain hunters after recent losses triggered by a weak Q1 results of operations. Metal stocks declined. Jindal Steel & Power has been dropped after a weak first quarter results 1. ACC collapsed after weak Q2 results. ONGC fell to the sharp increase in support for the load is limited to the first quarter of profit growth.

Asian stocks fell on Friday, July 29, 2011, as the impasse of the U.S. debt kept off the market sentiment under control, with Japan also suffered from weak earnings and earnings outlook.

At 09:20 IST, the BSE Sensex was up 2.55 points, or 0.01% 18,212.07. Sensex rose 15.65 points to 18,225.17 at the beginning of today’s top shop. The index fell 77.66 points to 18,131.86 at the beginning of the trading day low, the lowest since June 24, 2011.

The S & P CNX Nifty fell 1.50 points or 0.03% at 5486.25. The limited success of 5453.95 Nifty intraday trading, its lowest level since June 27, 2011.

The size of the market, indicating the overall health of the market was positive. On BSE, 731 shares rose and 583 shares declined. A total of 54 shares remained unchanged.

30 shares of the Sensex pack, 19 stocks fell and the rest is past. Reliance Communications, ITC and ICICI Bank rose between 0.65% to 1.74%. Jaiprakash Associates, Hero Honda Motors and HDFC Bank shed by between 0.85% to 1.22%.

Index heavyweight Reliance Industries (RIL) rose 0.93% is a bargain hunting after recent losses triggered by a weak Q1 results of operations. RIL is operating profit margin (OPM) declined by a significant 12.25% in Q1 June 2011 from 16.04% in Q1 June 2010, a weak performance in the oil & gas and petrochemical companies make good performance segment processing.

RIL’s net income rose to Rs 5,661 crore on 16.69% increase in revenues of 39.1% to SR 81,018 crore in the first quarter, in June 2011 at the First District in June 2010. Growth in both earnings and revenues in the lead market expectations. RIL has seen reports 15.44% growth in net profit to RS 5600.35 crore on 28.7% growth in net sales of RS 74,951.47 crore in the first quarter, in June 2011 during the first quarter, in June 2010 as an average estimate of 10 brokers. The result was published Monday, July 25, 2011.

Gross investments of RIL in refining margins (GRM) rose to $ 10.3 per barrel from $ 7.3 per barrel in Q1 June 2010. KG-D6 gas production Ril field on the east coast has dropped to 18% of 156.2 BCF in Q1 June 2011 over Q1 June 2010. The gas condensate production jumped 81.6% left 0.21 million barrels in Q1 June 2011 on Q1 June 2010. The company said that the sale of gas to the government gave priority to the Directive with effect from May 9, 2011.

Socks made of metal fell on the board after the poor results of Jindal Steel & Power (JSPL) on Thursday. Hindalco Industries, Hindustan Zinc, Sterlite Industries, SAIL, Tata Steel, JSW Steel and Nalco paid by between 0.15% to 2.9% NRI Share Trading Account.

JSPL fell to 3.43% of its consolidated net profit after tax decreased by 2.5% to 933.03 rupees crore on 31.4% increase in sales to RS 3944.10 crore in the first quarter in June 2011 in the first district in June 2010. The first quarter’s results were announced after market hours on Thursday.

Maruti Suzuki India rose 1.73% in production resumed at the plant in Manesar in Haryana society after a temporary worker strike Thursday, July 28, 2011 to protest the suspension of some of his colleagues. The loss in automobile production of the strike on Thursday was recovered Friday and will be marginal, reports suggest.

This is the second time in two months as Maruti, the largest in the country by car sales, had to stop production due to labor disputes at the plant in Manesar. The company stopped production for 10 days in June, after nearly 2,000 workers went on strike to demand the recognition of a new union and the reinstatement of 11 colleagues who were fired for insubordination.

ONGC fell 2.73% in a large increase in the burden of the company attributed the profit growth of restricted stock in the first quarter of the state oil exploration. Net income increased 11.83% to Rs 4094.90 crore on 18.7% increase in turnover of 16.268 million rupees in R Q1 Q1 June 2011 over June 2010. The subsidy burden ONGC rose 118.4% to Rs 12.046 million rupees in June 2011 in Q1 Q1 June 2010. The result was announced after trading hours Thursday, July 28, 2011.

The CAC fell 1.49% of consolidated net income fell 6.11% to 328.12 rupees crore on 17.17% rise in sales to RS 2538.97 crore in the second quarter, June 2011 at the Second District in June 2010. The result was announced after trading hours, Thursday, July 28, 2011. The ACC said while market conditions are currently subject, the total demand for cement pick up after the monsoon, and the ACC is well positioned to take advantage of this expected increase in demand over the coming months.

HCL Technologies fell 1.02% on profit taking. The company announced after market hours on Thursday, was selected by the Blue Cross and Blue Shield Association (BCBSA) to be part of a national purchasing agreement for the transition to ICD-10. With this agreement, HCL products and service capabilities will be available for the 39 independent Blue Cross and Blue Shield across the country.

Investors’ attention remains on the benefit of businesses Q1. Investors focused on post-Q1 June 2011 Management Report results to assess the future benefits at a time when Indian companies are seeing the cost pressures of rising interest rates and central personnel costs. Among the leading companies, says ICICI Bank, Power Finance Corporation, Bhushan Steel, Idea Cellular and TVS Motor profit for the first quarter today, July 29, 2011.

Sun TV announces Q1 results on August 1, 2011. Power Grid Corporation announces Q1 results, August 2, 2011. Bharti Airtel and United Spirits Q1 results release, August 3, 2011. Adani Power, Mundra Port and Special Economic Zone and India Hotels Q1 results announced on August 4, 2011. Cipla transport networks and IL & FS are set to announce the results of Q1, August 5, 2011.

M & M announced its results for the first quarter quarter, Aug. 8, 2011. ABB, Tata Communications, Mahindra and GMR Infrastructure Satyam publish quarterly results Aug. 9, 2011. Tata Power and Rural Electrification Corporation announces the results of the first quarter of the 10th August 2011. Tata Motors and Castrol India reveals quarterly results Aug. 11, 2011. Hindalco and Coal India reveal the first result quarter, 12 August 2011. Aditya Birla Nuvo presents the results for the first quarter of the 13th August 2011.

Stock market regulator Securities and Exchange Board of India (SEBI) on Thursday, made drastic changes to the code, as well as to increase the threshold for triggering the open offer of 25% to 15%. SEBI also changed the minimum size of an open offer, saying that when a company acquires at least 25% of another listed company, is a mandatory bid to open a further 26%. Under the current rules, a company needs to make a mandatory bid for a further 20% share. Partially accept the recommendations of the panel with SEBI, SEBI has also decided to abolish the non-competition payments, contractors usually pay the sellers of mergers and acquisitions opportunities.

The government on Thursday approved a bill to create a corruption of the Ombudsman Office, which has come to define the debate on what India should do to try to root out graft. The last few months, a handful of defenders of corruption has been negotiated with the government on the creation of the power and extent of Lokpal or the broker. Bill to give the agency the power to probe graft in the upper echelons of Indian bureaucracy, Parliament and ministries, but the release of Office is the prime minister and the judiciary.

The economic interest of the people, food prices rose in the week ended July 16, 2011 due to the more expensive fruits and vegetables, the latest data showed. The wholesale price index for food articles rose by 0.8% 193.3 191.7 from the previous week, data from the Ministry of Trade and Industry showed on Thursday. The index has increased from three to four weeks ended July 16. Data also showed the index of primary articles, which includes food and non food items, 198 have been slightly changed in the week ended July 16 compared to 197.7 weeks ago.

The Reserve Bank of India (RBI) raised its rates by 50 basis points to a policy review Tuesday, July 26, 2011, to control high inflation. The RBI raised its inflation target for end March 2012 to 7% against the previous estimate of 6%, saying inflation was above expectations. Which maintained its forecast for economic growth of 8% this fiscal year. RBI revised downward projection of non-food bank credit growth to 18% for the year ending March 2012 (fiscal 2012) of 19% previously.

Although the impact of recent policy actions is still being transmitted, given the overall growth and inflation scenario, it is necessary to persevere in the fight against inflation, the RBI said. Since then, monetary policy will depend on the trajectory of changes in inflation, which in turn is determined by trends in domestic growth and global commodity prices, the RBI said. A change in position will be motivated by evidence of a lasting slowdown in inflation, he said.

Uncertainty global macroeconomic environment is a challenge for the national economy from the perspective of financing the current account deficit, RBI said. In this context, the composition of capital flows are a concern. In recent months, a shift in the composition of capital flows of foreign direct investment (FDI) was observed. This trend will be reinforced by policy initiatives to improve the quality of financing the current account deficit, RBI said.

Finance Minister Pranab Mukherjee on Wednesday, July 27, 2011, said food inflation was around 8% at current levels is not acceptable. He added that the government should take measures to support the fight stubbornly high inflation, the RBI, which could see a further increase. I do not think we’ve reached the end of the tunnel, Mukherjee said, referring to the RBI tightening interest rate period. Appropriate measures are taken, Mukherjee said, referring to the government with the support of central policy measures, without providing details.

Mukherjee said the government will keep spending under control to achieve the deficit target, but gave no further details. We are looking for ways to cut spending. There are plenty of recipes, and together I think will help us meet the target budget deficit, he said.

The RBI Deputy Governor Subir Gokarn said Wednesday that the decision to go for an increase of 50 basis points repo rate, instead of the baby steps of 25 basis points above the RBI took was influenced by a strong demand in the economy, which was partially affected by fluctuations in interest rates. High costs of the government was also stimulates demand pressures, he said on a conference call with analysts.

Gokarn said the downside risks to the rising interest rates would be very limited growth and a smoother ride could have been perceived as inadequate. We feel stronger that the action was essentially compatible with the new position in May, he said.

Asian stocks fell on Friday, July 29, 2011, as the impasse of the U.S. debt kept off the market sentiment under control, with Japan also suffered from weak earnings and earnings outlook. Loss of depth in the various stock markets after Thursday’s vote on a Republican bill to lift the debt ceiling U.S. was canceled. Just days before the rest of the August 2 deadline, when the U.S. government is expected to run out of money to pay all your bills. The key benchmark indices in South Korea, Singapore, Indonesia, Hong Kong, China, Japan and Taiwan were down between 0.33% to 1.29%.

The unemployment rate in Japan in June marked increased industrial production and was softer than expected, while consumer prices rose less than expected, according to data released Friday. NRI Share Trading Account.

The U.S. index futures indicated the Dow could fall 62 points at the opening bell Friday, July 29, 2011. Weak earnings from U.S. stocks lower Thursday, July 28, 2011.

Recent data indicate that the first application for unemployment benefits fell from 24 000 and 298 000 in the last week, marking the first time in four months, the number was below 400,000. National Association of Realtors count of Americans signing contracts to purchase homes rose a second month of June, although the trade group also said a growing number of potential buyers is to terminate the contract on the shutdowns.


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