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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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-TATA'S are more reputed then Google, MSoft
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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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-Economies hit by recession
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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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-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.
Wednesday, May 20, 2009
Small Caps and Mid Caps perform better then SENSEX
(20/5/09 - SENSEX updates) - The mid-cap and small-cap indices today significantly outperformed the benchmark index Sensex with as many as 117 small-cap stocks and 14 mid-cap stocks touching their upper circuit limits at the Bombay Stock Exchange.
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The BSE mid-cap index gained over six per cent to settle at 4,673 points, while the small-cap index ended up 8.86 per cent at 5,208.18 points.
According to the data available on the BSE website, as many as 117 stocks from the 465 shares in the small-cap index and 14 stocks out of the total of 221 shares in the mid-cap index hit their respective upper circuit limits today.
"Investors are making value buys into midcaps and small-cap stocks which have turned attractive, while the blue chip stocks became overbought and witnessed profit booking today," Geojit BNP Paribas Financial Services Research head Alex Mathew said.
The 30-share bellwether index Sensex today lost 241 points to close at 14,060, after touching an intra-day high of 14,405.51.
Some of the mid-cap shares which surged and got struck in their upper limit include --realty firm Omaxe (gained 20 per cent), Godrej Industries (10 per cent), Akruti City (5 per cent), Indiabulls (5 per cent) and KEC International (10 per cent).
The mid-cap and small-cap indice track the performance of companies with relatively smaller market capitalisation than the blue chip firms.
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
The circuit limits, both upper and lower, are set by the exchange from time to time as a price containment measure beyond which trading would not be allowed in a scrip till the prices are normal or limits are reset.
The circuit limits in stocks are set for a particular scrip by the exchange to limit their movement to five per cent, 10 per cent and 20 per cent, either up or down.
The circuit limits are set to regulate manipulative or one way price drugging of particular shares mainly having smaller marketcaps.
The small-cap stocks which hit their upper circuit limits include- Raymond Ltd , Unity Infra, Bharati Shipyard, Madhucon Projects and United Breweries Holdings.
Monday, May 18, 2009
BSE | NIFTY surges 17 perc and 17.5 perc resp
Trading in Indian stocks was halted Monday after shares in key benchmarks surged more than 17% triggering market circuit breaker rules.
India's surge helped boost sentiment in other regional markets. While Japanese shares closed lower, before the start of Indian trading, exchanges open later, including Hong Kong, Shanghai and Singapore all ended higher.
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
The Sensex closed 17.3% higher at 14,284.21, while the 50-stock S&P CNX Nifty rallied 17.7% to 4,323.15.
"The election in India is showing a clear mandate there, and probably underlines to a lot of investors there that Asia is going to be the growth area for the next six to nine months, whereas growth in Europe and U.S. could take much longer," said Andrew Sullivan, a sales trader at Main First Securities in Hong Kong.
Minutes after the opening, the 30-stock Sensitive Index, or Sensex, rose 10.7% while the National Stock Exchange Nifty rose 14.5%, triggering a two-hour trading suspension. Immediately at the resumption of trade, shares surged further, prompting a trading suspension for the rest of the day.
"A pro-reform/stable government is just what India needs, amid signs of economic expectations bottoming out, to inspire investor confidence. We have argued that the stability of the newly-elected government, rather than the coalition dynamics, would be crucial for" sentiment, said analysts at Standard Chartered.
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
Some market observers were disappointed, however. Sharmila Joshi, an investment adviser in Mumbai, said "I have never seen anything like this... These kind of gap-up openings are ultimately bad for the market, as they don't give one a chance to participate. Today, it was impossible to participate."
Among the big gainers, shares of market heavyweight Reliance Industries climbed 20.6% and ICICI Bank advanced 25.4%, while property major DLF gained 25.9%.
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
The local currency also surged, with the U.S. dollar recently down to 47.96 rupees from a previous close of 49.38 rupees.
Morgan Stanley raised its earnings estimate and Sensex targets after the poll outcome. Analysts there said they now expect the Sensex companies to post aggregate earnings growth of 2.5%, compared with a prior forecast of a 10% contraction, this fiscal year. Morgan Stanley raised its Sensex target for 2009 to 15,300.
Saturday, the Congress-led United Progressive Alliance secured 262 seats out of the 543 up for grabs, falling just short of the 272 majority mark. The alliance is expected to make up the difference with support from smaller parties and independents. The outcome beat the most optimistic exit polls.