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(26/5/09 SENSEX futures) - Driven by the election outcome, the benchmark index Sensex could catapult to 19,500 level this year, provided the government pushes through the reform agenda, analysts said.
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Market experts believe that the reforms expected to be carried out by the new government may keep the market sentiment upbeat and propel the index to regain the levels, it had seen in 2007, in the months ahead.
"Our upside target for the Sensex is 19,500 this year which the index may climb if the government surprises us with a phenomenal budget," Morgan Stanley Managing Director Ridham Desai said in an investor summit arranged by a television channel here.
However, more probability for the index is to remain in mid-15,000 levels or about 10 per cent higher than current levels, he said.
The financial sector reforms which are there before the government include raising FDI cap from present level of 26 per cent from 49 per cent through amendment in Insurance Act, pension reform and banking sector reforms.
Tuesday, May 26, 2009
Sensex can touch 19,500 level this year
Monday, May 25, 2009
SENSEX | NIFTY at closing - May 2009 daily updates
The post provides closing rates details of BSE (Bombay Stock Exchange) , NSE (National Stock Exchange) on per day basis.
For world markets updates : Click here and for US markets updates : Click here.
BSE | NSE rates at closing for may 2009 are published below :
SENSEX | 14296.01 | 186.37 | Up^186.37
NIFTY | 4337.10 | 61.05 | Up^61.05
SENSEX | 14109.64 | 520.41 | Up^520.41
NIFTY | 4276.05 | 159.35 | Up^159.35
26/5/2009 - TUESDAY - BSE | NSE closing rates:
SENSEX | 13589.23 | -323.99 | Down(-323.99 pts)
NIFTY | 4116.70 | -120.85 | Down(-120.85 pts)
BSE closing - remains flat as midcaps gain
Oil shares reacted to reports that the new UPA government planned to cap profits of crude producers such as ONGC, Oil India, Reliance Industries and Cairn India as part of a transparent and sustainable subsidy-sharing system for the sector.
The proposal to levy a special oil tax was part of the recommendations of the BK Chaturvedi Committee, appointed to look into oil pricing as a replacement for the current subsidy-sharing plan that has been criticised for its lack of transparency.
Also read -
-World's top 10 most valuable brands list
-TATA'S are more reputed then Google, MSoft
-BSE aims at internationalization of listing business
-Effect of Recession on Indian Economy
-Economies hit by recession
-World's Strongest economies list
Bombay Stock Exchange’s Sensex ended at 13,913.22, up 26.07 points or 0.19 per cent. The index touched an intra-day low 13819.25 and high of 14028.06. National Stock Exchange’s Nifty closed at 4237.55, down 0.95 points or 0.02 per cent. The broader index touched a high of 4270.05 and low of 4205.10. Market breadth on BSE showed 2,470 advances against 316 declines.
The BSE Midcap Index closed 2.83 per cent higher and BSE Smallcap Index gained 5.01 per cent. Shares of distilleries and breweries companies were in demand. Balaji Distilleries was up over 12 per cent, United Breweries was locked at 20 per cent circuit and United Spirits gained 8.14 per cent.
Action was also seen in gems and jewellery space. Gitanjali Gems surged 19 per cent, Rajesh Exports gained 10 per cent and Su-raj Diamonds advanced 14 per cent.
BSE Realty Index was up 4.25 per cent, BSE Healthcare Index gained 2.83 per cent and BSE FMCG Index moved up 2.73 per cent. The only sector that continued its losing streak was the technology pack with BSE IT Index down 0.89 per cent.
Major losers today include Bharti Airtel (-5.41%), NTPC (-1.66%), HDFC (-1.63%), Grasim Industries (-1.63%) and ACC (-1.06%) were amongst the Sensex losers.
Friday, May 22, 2009
FIIs pull back Rs 761 crore from indian share markets
Foreign institutional investors (FIIs) on Friday sold shares worth Rs 761.66 crore in the domestic stock markets, even as the benchmark indices ended in positive zone.
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FIIs were the gross sellers of shares worth Rs 3,150.35 crore, while they bought stocks valued at Rs 2,388.69 crore resulting in a net sale of Rs 761.66 crore, as per the provisional data available with the Bombay Stock Exchange.
However, domestic institutional investors were bullish and made a net investment of Rs 434.53 crore in stocks.
On Thursday, FIIs had made a net investment of Rs 146.90 crore in the Indian stock markets, according to the latest data available with the Securities and Exchange Board of India (SEBI).
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-World's top 10 most valuable brands list
-TATA'S are more reputed then Google, MSoft
-BSE aims at internationalization of listing business
-Effect of Recession on Indian Economy
-Economies hit by recession
-World's Strongest economies list
During the week, FIIs pumped in over Rs 6,000 crore in the domestic markets, which includes a record investment of over Rs 5,000 crore in a single day.
In today's market, proprietors and non-resident Indians (NRIs) made a net investment of Rs 111.98 crore and Rs 0.43 crore in shares, according to the BSE data.
BSE Launches Currency Derivatives Certification Examination for NISM
BSE Launches "NISM-Series-I: Currency Derivatives Certification Examination (NISM-Series-I: CD Examination)" as Test Administrator of National Institute of Securities Markets (Established by Securities and Exchange Board of India).
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In pursuance of the announcement made by the Finance Minister in his Budget Speech in February 2005, Securities and Exchange Board of India (SEBI) established the National Institute of Securities Markets (NISM) in Mumbai.
NISM brings out various publications on securities markets with a view to enhance knowledge levels of participants in the securities industry.
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NISM is mandated to develop and implement certification examinations for professionals employed in various segments of the Indian securities markets.
Bombay Stock Exchange Ltd has been appointed as Test Administrator by NISM for conducting "NISM-Series-I: Currency Derivatives Certification Examination (NISM-Series-I: CD Examination)".
source www.bseindia.com
Thursday, May 21, 2009
SEBI's fund to protect investors is operational now
SEBI's fund to protect investors is operational now.
After the delay of almost two years, market regulator SEBI has operationalised the fund to protect and spread awareness among investors, including giving help to investor associations in legal matters against listed entities.
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"There shall be a fund to be called the Investor Protection and Education Fund," regulations notified in official gazette stated here.
The fund has been set up with retrospective effect from July 23, 2007. SEBI had, by way of an executive order, created the fund on July 23, 2007 by crediting an initial corpus of Rs 10 crore out of the SEBI General Fund.
"The fund shall be utilised for the purpose of protection of investors and promotion of investor education and awareness," SEBI regulations said.
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-World's top 10 most valuable brands list
-TATA'S are more reputed then Google, MSoft
-BSE aims at internationalization of listing business
-Effect of Recession on Indian Economy
-Economies hit by recession
-World's Strongest economies list
According to the regulations, the fund can be used for aiding investor associations recognised by the SEBI to undertake legal proceedings in the interest of investors in securities, which are listed or proposed to be listed.
However, such an aid must not exceed 75 per cent of total expenditure on legal proceedings. Also such aid must not be considered for more than one legal proceeding in a particular matter.