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World Market Watch: Nirmal Bang Securities |
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Written by Reetu Sharma
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Wednesday, 01 July 2009 15:38 |
 U.S. stocks fell, limiting the biggest quarterly advance for the Standard & Poor’s 500 Index since 1998, after consumer confidence unexpectedly slid and delinquencies on the least?risky mortgagesmore than doubled.
Reserve Bank of San Francisco President Janet Yellen said the U.S. economy may be about to “turn the corner” and reiterated her expectation that the recession will end later this year. “Right now, we’re like a patient in intensive care whose condition has stabilized and whose fever is just starting to come down,” Yellen said in the text of a speech today in San Francisco.
Yellen’s comments echo the view taken by other Fed policy makers, who said last week the pace of economic contraction is slowing. The benchmark U.S. interest rate, now between zero and 0.25 percent, will likely stay at “exceptionally low levels” for “an extended period,” they said in a statement after their June 23?24 meeting.
Home prices in 20 major US cities fell in April at a slower pace than forecast, a sign that the plunge in real estate values is abating. The S&P/Case?Shiller home?price index decreased 18.1% from a year earlier following an 18.7% drop in March.
Asian stocks fell on signs the economic recovery is faltering as confidence at Japanese businesses posted a smaller?than?expected rebound and metals prices dropped. Sentiment among Japan’s largest manufacturers rose less than estimated in June, signaling the economy may be slow to recover from its deepest postwar recession.
An index of confidence among large makers of electronics, cars and other products climbed to minus 48 from a record minus 58 in March, the Bank of Japan’s Tankan survey showed today in Tokyo.
Economists surveyed by Bloomberg News predicted minus 43. The report provides the latest indication that Japan’s likely expansion last quarter was short lived after figures over the past week showed a revival in industrial production may wane, job prospects worsened and deflation returned.
The yen fell toward a two?week low against the euro after a report showed China’s manufacturing expanded for a fourth month, damping demand for the relative safety of Japan’s currency. The yen also weakened against 15 of the 16 most?traded currencies after an Australian report showed retail sales climbed for a third month, giving investors more confidence to purchase higher?yielding assets. |
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Sensex Gains 158.12 Pts; DLF, SBI, Rel Capital Surge |
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Written by Neena Sareen
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Wednesday, 01 July 2009 15:32 |
 The benchmark index Sensex, gained further ground on account of continued buying action witnessed across board. Realty stocks were in limelight and gained the most followed by oil & gas, banking and capital goods stocks, while consumer durables went down. BSE Midcap and Smallcap index also remained up and gained 0.89% and 0.05% respectively. Among the sectoral indices, BSE Realty climbed 3.72%, Oil & gas, Bankex and Capital goods gained more than 1% each, whereas Consumer durables was down by 0.63%. At 02:09 p.m., the 30-share index Sensex gained 158.12 points to trade at 14,651.96. It also hit an intraday high of 14,696.07 and an intraday low of 14,355.52. In the meantime, the broad based Nifty stood at 4,339.20, up 48.10 points, after touching an intraday high of 4,356.70 and an intraday low of 4,249.70. The overall market breadth was negative as 1,067 stocks posted gains and 1,382 declined. The top gainers in the 30-share index included DLF (3.93%), Reliance Capital (3.81%), SBI (2.41%), Bharti Airtel (2.31%), Rel Ind (2.31%), and Tata Motors (2.16%). On the other hand, the major losers in the 30-share index were Hindalco Industries (4.34%), ACC (1.55%), ONGC (1.14%), JP Asso (0.46%), Wipro (0.04%), and Grasim Industries (0.01%). |
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Singapore shares close down 2.55 per cent |
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Written by Mohit Garg
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Monday, 15 June 2009 17:21 |
Singapore - Singapore shares closed down 2.55 per cent Monday as other major stock markets around Asia also posted losses.
The key Straits Times index fell 60.51 points to 2,316.56.(dpa) |
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In its latest research report, Nirmal Bang, an equity research firm said that Reliance Power can give good returns in 4-5 trading sessions. |
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Written by Ajay Gupta
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Monday, 15 June 2009 17:20 |
The 30-share index Sensex slipped below 15,000 mark on Monday, extending its losing streak for the third session, due to increased capital outflows by foreign funds following other weak Asian markets.
FMCG, banking and PSU stocks were providing support to the market while Oil & gas, auto and metals capped gains.
Traders were expecting market friendly budget from the government and hence sentiments were bullish despite poor performance by the Asian markets, said dealers.
“US markets closed up while Asian markets are negative. Most Asian stocks declined, led by commodity companies, after metals and oil prices fell. Japanese automakers rose as a weakening yen boosted earnings prospects. Our markets have rallied significantly with supply seen at higher levels. We believe that markets might pause at current levels for sometime, though we are likely to see stock specific action. For the day we expect the market to open down with some buying at lower levels,” said Religare Securities report.
At 12:50 am, Sensex, which has lost nearly 230 points in the last two sessions, stood at 14,980.64, down 257.30 points or 1.69 per cent. The index touched an intra-day low of 15,261.03 and a low of 14,972.41
National Stock Exchange’s Nifty lost 52.00 points, or 1.13% at 4,531.40. The broader index hit a high of 4,601.05 and a low of 4,522.95. (12.50 p.m.)
“Trend deciding level for the day is 4614 / 15338. If Nifty trades above this level during the first half-an-hour of trade then we may witness a further rally up to 4662 / 15501. However, if Nifty trades below 4614 / 15338 for the first half-an-hour of trade then it may correct up to 4535 – 4487 / 15075 – 14911,” said Angel Broking note.
BSE Midcap Index was down 1.11 per cent and BSE Smallcap Index slipped 1.06 per cent.
Among the sectoral indices, BSE Oil & gas declined 3.66 per cent, BSE Metal fell 2.43%, Auto and Capital goods were down by more than 1% each.
The top gainers in the Sensex pack included Reliance Energy (2.90%), NTPC (2.80%), Oil & Natural Gas Corporation (2.08%), Ranbaxy Laboratories (1.81%), Tata Consultancy Services (1.58%), and Hindustan Unilever (1.47%).
Sterlite Industries (India) (6.84%), Reliance Industries (6.66%), Tata Power Company (5.19%), Tata Motors (4.00%), Tata Steel (3.14%), and Mahindra & Mahindra (3.10%) were the major losers in the Sensex.
Asian stocks fell down, led by commodity companies, after metals and oil prices went down.
Japanese benchmark index Nikkei dropped 96.15 points to trade at 10,039.67. Hong Kong’s Hang Seng index declined 211.63 points to trade at 18,676.71 and China’s Shanghai Composite surged 45.79 points to trade at 2,789.55 (12.55 p.m, IST). |
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Stock Markets
The benchmark indices ended with deep cut as huge selling pressure was build since the morning session. The Sensex lost 292 points or 1.97% to settle at 14,494 and the Nifty closed at 4291 down 2.27% or 100 points. Among the broader indices, the BSE Midcap Index fell153.75 points or 2.94% and the Smallcap Index declined 2.51% or 147. Realty, metals, power and capital goods stocks were hammered intoday’s trade. Selling was across the board and the market breadth was quite negative. All the sectoral indices ended in red. The July Nifty future ended with 11 point premium at 4302. Month on month the Nifty was down 3.5%.