Sensex Found 17,000 After Falling Below That Mark For A Short Period

Continued volatility of the benchmark indices recovered after hitting a fresh intraday minimum. BSE barometer index Sensex back to the sign below the psychological mark of 000 17 for a moment, in early trade. Sensex rose 20.60 points, or 0.15%, to about 100 points from days low, and almost 40 points higher today. Extension of the market was strong. Index heavyweight Reliance Industries (RIL) has extended its early losses. Banks fell pivotals fear that rising interest rates could limit the growth of loans. The pharmaceutical stocks rose. State oil marketing companies (OMC PSU) Crude oil prices fell sharply. Software stocks jumped on positive economic data, the U.S. and a weaker rupee.

Stocks have been volatile as soon as the beginning of the trading day. The market slipped in red just opened. The market once again in the positive. Market compared to earnings immediately. Continued volatility of the benchmark indices recovered after hitting a fresh intraday trade minimum morning.

Data for the second quarter of September 2011 companies withholding tax payment due on September 15, 2011 may provide signals for Q2 September 2011 results.

At 10:20 IST, the BSE Sensex rose 20.60 points, or 0.15% at 17091.26. The index rose 60.84 points the day’s highest 17,125.84 in early trade. The index fell 77.63 points to 16,987.37 in early trading day low.

S & P CNX Nifty rose 7.20 points, or 0.15% at 5132.10. Nifty hit a low peak of 5,140.70 5,098.25 and intraday trading.

The market size, which indicates the general health of the market was very strong. On BSE, 1,215 stocks rose and 674 fell actions. A total of 59 stocks remained unchanged.

Among the Sensex stake 30, 18 decreased, while the rest of them have increased. Wipro, Infosys and TCS increased from 2.14% to 3.6%. Jindal Steel & Power, Jaiprakash Associates and Bajaj Auto dropped 1.25% to 2.17%.

Index heavyweight Reliance Industries (RIL) fell 1.05% to take profit. Europe’s second largest oil company BP Plc, last month acquired a 30% stake in 21 oil and gas blocks in the RIL is India. RIL, BP will pay a total of $ 7.2 billion decision to apply adjustments to the acquired interests in 21 production sharing agreements, the company said in a joint statement at the end of last month. In addition, performance payments up to $ 1.8 billion would be paid based on successful exploration, which leads to the development of commercial discoveries, the two companies said.

Banks fell pivotals of higher interest rates on loans may limit growth. The largest private bank in India with a net profit ICICI Bank fell 0.87%. India, the second largest private bank, HDFC Bank net profit declined 1.27%.

The largest bank branch network in India and the State Bank of India net profit (SBI) fell 0.5%, reversing early gains. The government would probably take a call on capital infusion in SBI in a couple of weeks. Under the proposal, the SBI 20,000 rupees crore required to finance its growth plans over the next two fiscal years.

Stocks pharmaceutical upper cut. Biocon, Lupin, Cipla, Sun Pharmaceutical Industries and Ranbaxy Laboratories rose between 0.7% and 3.6%.

The state-owned oil marketing (PSU WTO) decreased, while oil prices rose. BPCL and Indian Oil Corporation fell 0.09% to 0.56%. HPCL fell 3.64% to the stock split ex-dividend today of Rs 14 per share for the year ending March 2011. Rising oil prices lead to an increase in the recovery of public marketing companies Oil (PSU WTO) on domestic sale of diesel, LPG and kerosene at controlled prices. The government has already published the price of gasoline.

Oil traded near the highest close for more than a month in New York on speculation of a building storm in the Gulf of Mexico, threatening supplies to the United States, which was reduced last week’s cyclone before. Crude oil futures for delivery in the United States in October 2011 rose 3 cents, or 0.03% to 89.37 a barrel.

Shares of TD Power Systems was trading at 278.80 rupees on BSE, a premium of 8.91% on the price of the initial public offering of 256 rupees. The share opened at Rs 251.60, a discount of 1.72% in the initial public offering (IPO) price.

Foreign institutional investors (FIIs) bought shares worth Rs 262.43 crore on Wednesday, 7 In September of 2011, as the exchange of preliminary data. FII bought shares worth a net Rs 2972.63 crore six sessions, from 29 August 2011-7 September 2011, as the exchange of information NRI Demat account .

The government took a step closer to a revision of the old laws of land acquisition on Wednesday introduced a long-delayed bill to Parliament which aims to attract investment in infrastructure, while compensating farmers and landowners. The current parliamentary session ends Friday, September 9, 2011 and the bill is unlikely to be approved by Parliament resumes later this year. The expropriation of land for the public good is a controversial issue as India is full of industrialization, with large factories, housing and transport projects identified by land disputes.

On the macroeconomic front, the government will disclose some information on the price index that is wholesale. food price index, the main index of articles and the index of fuel prices for the year to August 27, 2011 Today, 8th September 2011. Reserve Bank of India (RBI) said that a change in anti-inflationary monetary policy will be motivated by evidence of a sustained decline in inflation.

Data on September 12, 2011, industrial production in July 2011 and September 14, 2011, the total inflation in August 2011 will give signals of the most probable position of the central bank in the mid-quarter, the Monetary Policy September 16, 2011.

Moody’s Investors Service confirmed the Baa3 rating for the debt of India’s foreign currency government and its debt rating to Ba1 local currency annual credit analysis published earlier this week. The company marks a positive attitude of bonds denominated in India rupees, and said it will consider a Baa3 stop shop for all obligations that India improves its financial position and its commitment to strengthen the domestic market. The outlook for foreign currency debt is stable.

Report optimistic about India’s ability to overcome the global economic crisis. Although not immune to the slowdown in international, domestic demand and prepare for the diversity of economic slowdown in the world are exposed to the fields, the report said. He noted that India’s foreign currency reserves than four times the foreign debt.

A debt to GDP ratio of 71% is a concern that the interest on this debt eats 25% of revenues from India every year. But Moody expects continued growth of GDP and further fiscal consolidation efforts will continue to reduce the public debt / GDP, the report said.

Service sector in India has increased its weakest growth in over two years in August 2011, strangled by the low expansion into new businesses as the faltering global economy and the tightening of monetary conditions in mind, a survey showed on Monday September 5, 2011. Markit HSBC’s business activity, based on a survey of nearly 400 companies, fell to 53.8 in August from 58.2 in July, the index down more than a month since January 2009. It was also the lowest growth since June 2009, but the index remained above the 50 mark that separates growth from contraction for 28 consecutive months.

The new business sub-index fell to its lowest level in three months to 54.9 in August from 59.3 in July, to mitigate the global economic situation knocked orders. Expectations of new activities also reduced in the month of August. The survey also showed a decline in employment in the service sector for the second consecutive month business growth has slowed, while production costs and producer prices have continued to march forward NRI online trading account .

Manufacturing activity in India in August 2011 dropped to a lowest level in 29 months as exports took a beating amid continuing uncertainty in global economic environment, a survey showed last week. The total seasonally adjusted purchasing managers HSBC, compiled by Markit, fell to 52.6 in August against 53.6 in July. The pace of new order flows in August fell to its slowest in 29 months as export orders contracted at the fastest rate since the series began, HSBC said.

Arrears production fell for the first time since March 2010 working pressures subsided. In addition, inflationary pressures have increased both the input and output prices rose.

Exports grew by 81.79% to $ 29.3 billion while imports grew 51.5% to $ 40.4 billion in July 2011 over July 2010, leaving a trade deficit of $ 11 billion, the data showed last week.

Titles gained more volatile Asian trade on Thursday, 8 In September 2011, before the main political opinions, because the United States and Europe. Benchmark indices in South Korea, Singapore, Taiwan, Japan and Indonesia grew by 0.15% and 0.79%. Benchmark indices in China and Hong Kong fell by between 0.14% to 0.75%.

The Bank of Korea offered an increase in borrowing costs today, amid the increasing risks that the position of the global recovery.

The European Central Bank (ECB) should maintain its key rate unchanged at 1.5% at its monthly meeting on the policy on interest rates today, 8th September 2011. At its policy meeting today, the Bank of England (BOE) Monetary Policy Committee is also expected to keep its key interest rate benchmark interest 0.5%, 31 consecutive months with such rapidity.

U.S. trade in index futures indicated that the Dow could drop to 31 points the opening bell on Thursday, September 8, 2011 PAN Card for NRI .

The Federal Reserve Ben Bernanke is due to speak Thursday, September 8, 2011, the outlook for the U.S. economy and the possibility for other quantitative easing, his last speech before the scheduled Federal Open Market Committee meeting two days on 20 and 21 September 2011. Bernanke August 26, 2011 waived if the Federal Reserve will immediately introduce new measures to support the U.S. economy, arguing instead that the options would be discussed at the meeting of the Fed in September 2011.

Stock markets had a solid performance, Wednesday, September 7, 2011, after a German court ruled in favor of the project in the euro area rescues, Beige Book Federal Reserve said the U.S. economy still growing, and details appeared on the U.S. president of job creation proposals will be announced later Thursday, September 8, 2011. In a speech before a joint session of Congress Thursday night, U.S. President Barack Obama plans to propose increasing employment by injecting over 300 billion dollars in the economy next year, mainly through tax cuts, infrastructure spending and aid to state and local governments NRI Demat account .


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