Market Reverses Initial Drop, The Scale Becomes Positive

The purchase request for a fall from intraday index key reference in positive territory in morning trading. BSE Sensex rose 5.12 points or 0.03%, up 191.42 points down and out days of 2.62 points high of the day. Capital markets turned positive after opening in negative territory. Asian markets fell Friday, November 25, 2011, as persistent concerns about the debt crisis in Europe has kept investors on the sidelines.

Index heavyweight Reliance Industries (RIL) was the time low. IT stocks fell in the U.S. and economic uncertainty in Europe, the two biggest markets for Indian exporters of software. The high beta stocks infrastructure, which were a bargain hunting after recent slide. Shares of retailers rose after the government organized the Union is Thursday, November 24th, 2011, removed a proposal to allow 51% foreign direct investment (FDI), a multi-brand retail trade and foreign direct investment in 100% single-brand retail sector from the current 51%.

Data showing heavy selling by foreign funds recently has adversely affected investor sentiment. FII sold shares worth Rs 1636.08 crore as big of a trading session Thursday, November 24th, 2011, as per provisional data exchange. Their flow was Rs 6483.66 crore in eight trading sessions from 15 to 24 November 2011, as exchanges of information.

At 10:23 IST, the BSE Sensex was up 5.12 points or 0.03% to 15,863.61. The index lost 186.30 points to 15,672.19 a few days in morning trading. The index rose 7.74 points on the day high of 15,866.23 in morning trading.

The S & P CNX Nifty rose 0.50 points, or 0.01 to 4756.95%. The Nifty hit a high of 4762.25 and 4700.50 intraday trading low.

Market size, indicating the overall health of the market, turned positive. On BSE, 1190 shares advanced and 730 stocks declined. A total of 74 shares remained unchanged. Breadth was negative in trade liberalization.

The total turnover on BSE amounted to RS 510 crore from 10:25 IST RS 110 crore by 9:25 IST

Of the 30 members Sensex pack, 22 the rest were refused. Hero MotoCorp (down 2.21%), Tata Steel (down 1.49%) and ONGC (down 0.97%), cutting down the Sensex pack.

Index heavyweight Reliance Industries (RIL) fell 1.33% RS 764.10, rest day low of Rs 757.40. Recent report indicated that the government refused to recognize the six findings, the company was the D-6 block, saying the accusations are not supported test series and address the impact of the recovery plan the company for failure of production through the development of new fields in the block. Oil Secretary GC Chaturvedi was Tuesday, November 22, 2011, said the oil ministry may decide within a month of action against RIL declining natural gas production in Krishna Godavari basin D6 block off the east coast.

RIL last week said it has formed a joint venture with BP, the name of the Indian Gas Solutions, which focuses on global sourcing and marketing of natural gas in India. The joint venture will also develop the infrastructure to speed up the transport and marketing of natural gas within the country. India gas solutions, financed by a capital of BP and RIL.

IT stocks fall on economic uncertainty in the U.S. and Europe, the two largest markets for Indian exporters of software. India’s second largest software services exporter Infosys revenues paid by 1.34%. Chief Financial Officer of the Company V. Balakrishnan said in an interview with a news agency Monday, November 21, 2011 that the company may lack the top end of its sales target for the third quarter, in December 2011, and also for the year ending March 2012 (2012) that the deteriorating global economic situation has made large contracts hard to find. Balakrishnan said that the upper end of the forecast is in danger, sales growth will continue in this area.

In announcing Q2 September 2011 results earlier this month, Infosys had planned a 3.2% to 5.3% growth in sales of $ 1.802 to $ 1.84 billion in Q2 Q3 December 2011 More in September 2011. The company had projected 17.1% to 19.1% growth in turnover of 7.08 billion from $ 7.20 billion for the fiscal year ending March 2012 (FY 2012) over the year ending March 2011 (FY 2011).

In terms of rupee, Infosys had predicted 8.97% to 11.2% growth in turnover was the R 8826 RS 9012 crore rupees in Q3 December 2011 over Q2 September 2011. The company had predicted 21.8% to 24% growth in turnover was Rs 33 crore RS 501 34 088 crore in FY 2012 over FY 2011.

India’s third largest software services exporter Wipro slipped 0.38%.

The largest exporter of software services in India TCS fell 1.29%. Tata Group holds firm, Tata Sons on Wednesday, November 23, 2011, Pallonji Mistry Cyrus appointed as his successor Ratan Tata of Tata Group Chairman.

High beta infrastructure stocks gained on bargain hunting after recent slide. India’s largest manufacturer of electrical equipment by BHEL sales rose 3.2% to RS 269.35 and was the winner of Top Sensex pack. Restocking extended after slipping to a low of 52 weeks of Rs 246.20 Thursday, November 24, 2011.

Largest engineering in India and built by the order book, L & T rose 2.76% to Rs 1224.20, after falling to a minimum of 52 weeks of Rs 1175 in intra-day, Thursday, November 24 2011.

Reliance Infrastructure (up 1.16%), Jaiprakash Associates (up 1.22%), Punj Lloyd (up 1.94%), Lanco Infra Tech (up 2.99%), GMR Infrastructure (up 2.65%) and GVK Power & Infrastructure (up 2.87%) were given.

Among the side counters Medi Caps (up 16.41%), Salora International (up 14.68%), Sweat clothing (up 13.85%), Balaji Amines (up to 12, 01%), cattle.

The actions of organized retailers rose after the Council of Ministers of the Union Thursday, November 24, 2011, released a proposal to allow 51% foreign direct investment (FDI) in various retail brands and increased FDI in retail trade of single brand and 100% of the current 51%. Stop Trento (% to 10.10), Pants Retail India (16.08%) and buyers (up 13.23%), increased. Currently, the country allows 51% FDI in retailing a single brand and 100% FDI in cash and carry format of the company. The movement to liberalize the standard IDE in detail the signs that the government of India, after years of hesitation on allowing more foreign investment in various sectors, is now seriously to attract foreign funds. Foreign direct investment in India fell from 28% to $ 29.4 billion in the year March 31, 2011, while the country’s economic prospects in the dark.

Further opening of the retail market – and the message it sends information about the government’s intention to introduce reforms – can help boost the economy and shore up the shaky investor sentiment. The government is likely to indicate the data of the new FDI norms in retail trade in Parliament today, 25 November 2011.


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