Sensex down 127 points in early trade

Mumbai: The BSE benchmark Sensex fell by over 127 points in opening trade on Wednesday on emergence of profit selling by funds and retail investors amid a weakening trend on Asian bourses.

The 30-share Sensex, which had gained 84.38 points yesterday, fell by 127.22 points, or 0.68 percent, to 18,666.14.

Likewise, the wide-based National Stock Exchange Nifty shed 43.20 points, or 0.76 percent, to 5,661.40.

Brokers said Sensex rose as funds and retail investors indulged in profit-selling amid a weak trend on Asian bourses following overnight losses at the US market.

They said US stocks fell on Tuesday, led by losses in technology, after brokerage downgrades major companies as worries increased about third-quarter US earnings.

Meanwhile, in Asian region, Japan's Nikkei was down by 1.69 percent, while Hong Kong's Hang Seng index shed 0.49 percent.

The US Dow Jones Industrial Average ended 0.81 percent lower in overnight trade.

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Sensex below 19K, drops 120 points

Mumbai: A flash 900-point crash in NSE Nifty index and concerns over the fate of big-ticket reforms like raising the FDI cap in insurance, snapped a four-day rally with BSE Sensex falling 120 points to end below 19K level on Friday.

After gaining around 488 points in past four sessions, the BSE benchmark index opened higher at 19115.89 after the government on Thursday unleashed another round of reforms.

However, the Sensex soon dropped over 200 points mirroring a 900-point fall in NSE Nifty due to a technical glitch caused by sell orders worth Rs 650 crore executed by broker Emkay Global Financial Services. This halted trade in cash market for 15 minutes, hitting sentiment.

Besides, investors weighed up the fate of the big-ticket economic reforms announced on Thursday as some legislations are likely to face stiff opposition in the Parliament before final ratification, brokers said.

The 30-share Sensex closed 119.69 points down, or 0.63 percent, at 18,938.46. The Nifty closed at 5,746.95, down 40.65 points or 0.70 percent.

"A healthy up move, on back of fresh reforms, was expected in markets today. However, the initial euphoria evaporated due to confusion due of erroneous trades on NSE near start of the day," said Milan Bavishi, Head Research, Inventure Growth & Securities.

Importantly, the some bills need to be approved by the Parliament before becoming a reality and notably, the main opposition party, BJP, seems opposed to raising the FDI limits, said Edelweiss in a report.

HDFC, which lost 4.55 percent, was the worst hit amid reports that global fund house Carlyle has sold a big chunk of its 3.7 percent stake on Friday. Wipro, Sun Pharma, Infosys and ICICI Bank were other major losers.

Dealers said gains in Tata Motors, Hindustan Unilever, ONGC and L&T helped the Sensex to pare losses.

Meanwhile, the rupee traded weaker at 51.81 to the dollar, from its last close of 51.74.

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Market leads upward march for 5th week

Mumbai:  The benchmark Sensex continued its upward march for the fifth consecutive week, advancing by another 176 points to close the truncated week at 18,938.46 after crossing the 19,000 level on persistent buying from foreign funds on the back of a slew of economic reforms.

The BSE and NSE were closed for trading on October 2 on the occasion of Gandhi Jayanti.

The Government this week unleashed a second wave of reforms. It decided to open the pension sector to foreign investment and raised the FDI cap in insurance to 49 percent, undeterred by opposition to its earlier decisions on FDI in retail and threats to block these legislations in the Parliament.

The Union Cabinet cleared big-ticket legislative proposals, including the new Companies Bill, amendments to Competition Act and Forward Contracts (Regulation) Act.

The Bombay Stock Exchange (BSE) sensitive index touched 19,137.29, a 15-month high, but fag end profit-booking pulled it down to end the week at 18,938.46, still showing a gain of 175.62 points or 0.94 percent. The Sensex had last ended at 19,078.30 on July 7, 2011.

The 30-share Sensex has gained 1,508.90 points, or 8.65 percent, in the last five weeks.

The NSE 50-share Nifty also rose by 43.65 points, or 0.77 percent, to end at more than 17-month high at 5,746.95. It had last settled at 5,833.90 on April 27, 2011.

However, the Nifty on Friday dropped by almost 900 points to 4,888.20 due to erroneous orders worth Rs 650 crore executed by broker Emkay Global Financial Services. This halted trade in cash market for 15 minutes, although NSE said its system worked fine without any technical glitch.

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M-Cap of top eight Sensex firms surges

Mumbai: The combined market value of top eight Sensex companies rose by Rs 30,510 crore last week, led by a smart rally in SBI and RIL valuations.

     

Barring HDFC and Infosys, other eight companies in the top 10 list saw rise in their market capitalisation (m-cap).

     

The BSE 30-stock index, Sensex, closed the last week at 18,938.46, up nearly 1 percent over the previous week.

     

SBI's m-cap surged Rs 6,804 crore at Rs 1,56,977 crore, while RIL's value soared Rs 6,698 crore at Rs 2,77,414 crore.

     

State-run energy major ONGC added Rs 5,818 crore to its m-cap which reached Rs 2,45,713 crore, while FMCG giant ITC's valuation was up Rs 3,304 crore at Rs 2,16,598 crore.

     

The m-cap of Coal India moved up by Rs 2,495 crore at Rs 2,29,536 crore; NTPC's market worth jumped Rs 2,391 crore at Rs 1,40,791 crore; TCS added Rs 1,908 crore at Rs 2,55,172 crore and ICICI Bank - Rs 1,092 crore at Rs 1,22,991 crore.

     

On the other hand, HDFC Bank lost Rs 1,469 crore from its market value which was Rs 1,46,789 crore and Infosys' m-cap fell by Rs 350 crore to Rs 1,45,160 crore.

     

RIL continued to rule the top 10 chart, followed by TCS, ONGC, CIL, ITC, SBI, HDFC Bank, Infosys, NTPC and ICICI Bank.

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Sensex down 61 points in opening trade

Mumbai: The BSE benchmark Sensex fell by almost 61 points in opening trade on Monday on emergence of profit booking at higher levels.

     

The 30-share index, which had lost 120 points in the previous session, fell by 61.48 points, or 0.32 percent, to 18,880.50.

     

Similarly, the wide-based National Stock Exchange Nifty Index shed 26.35 points, or 0.46 percent, to 5,720.60.

     

Brokers said investors indulged in profit booking following a recent rally in the stock market.

    

They added that the recent upsurge in the markets was on the back of government's measures to support economic growth.

     

Meanwhile, in Asian region, Japan's Nikkei was up by 0.44 percent, while Hong Kong's Hang Seng index shed 0.67 percent.

     

The US Dow Jones Industrial Average ended 0.26 percent higher in Friday's trade.

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Sensex drops 229 points to 10-day low

Mumbai: The Sensex on Monday fell by over 229 points to close at 18,708.98, its lowest in 10 days, on heavy selling in RIL, SBI and L&T amid weakness in European stocks ahead of a key meeting to discuss the region’s debt crisis.

    

After opening slightly weaker on weak Asian cues, the BSE benchmark index stayed in the negative zone throughout the session and touched the day's low of 18,684.40.

    

Dragged down by realty, oil&gas, capital goods and consumer durable shares, Sensex finally closed 229.48 points or 1.21 percent lower at at 18,708.98. This is the lowest closing for the index since 18,579.50 on September 27.

    

The 50-share NSE Nifty index ended 70.95 points down or 1.23 percent at 5,676. "Selling pressure in heavyweights led to fall of over 1 percent on Monday. Lower opening of European indices as well as weaker US Futures also hit sentiment," said Nidhi Sarswat, Senior Reseach Analyst, Bonanza Portfolio.

    

RIL was the worst hit among 30-share Sensex on Monday as it dropped 4.51 percent. Hindalco (3.52 pc), Bhel (3.44 pc), L&T (3.09 pc), SBI (2.97 pc), Tata Motors (2.87 pc), Tata Power (2.5 pc) and Wipro (2.18 pc). Pharma stocks, however, bucked the trend.

    

In BSE, 1,515 stocks fell while nearly 1,383 scrips rose. M-cap fell by Rs 62,000 crore to Rs 65.71 lakh crore.

    

Globally, European stocks are trading over 1 percent down on reports that World Bank has cut its East Asian growth forecast. Sentiments were also weak ahead of Eurozone finance ministers meeting shortly to discuss the region's debt crisis.

    

Meanwhile, the rupee slumped over 1 percent to 52.51 against the US dollar in afternoon trade. 

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Sensex up 150 points in early trade

Mumbai: The BSE benchmark Sensex recovered by over 150 points in early trade on Tuesday, led by gains in power, capital goods and banking stocks, on fresh buying by funds and retailers after two sessions of losses on profit-booking.

The 30-share barometer, which has lost nearly 350 points in the past two sessions, rose by 150.80 points, or 0.81 percent, to 18,859.78.

All the sectoral indices, led by banking and capital goods, were trading in positive territory with gains of up to 1.34 percent.

Similarly, the wide-based National Stock Exchange index

Nifty moved up by 48.80 points, or 0.86 percent, to 5,724.80.

Brokers said fresh round of buying by major players largely in heavy-weight stocks with the corporate earnings season approaching, helped trading sentiments to improve.

Meanwhile, in Asian region, Hong Kong's Hang Seng index rose 1.16 percent, while Japan's Nikkei shed 0.49 percent.

The US Dow Jones Industrial Average ended 0.19 percent lower in yesterday's trade.

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