FIRST LIGHT HEADINGS
Garden Silk Mills' Q3 net profit zooms 232.41%
NTPC-NPCIL’s JV company incorporated under the name 'Anushakti Vidhyut Nigam’
Vedant Hotels to sell its unutilized property in Aurangabad
Reliance Infrastructure commissions WRSSS Transmission Project
Tata Chemicals' Q3 net profit increases by 29.30%
Lupin posts decent numbers for Q3d
IMF hikes global growth forecast to 4.5% for 2011
JSW Steel acquires assets of 0.5 MTPA Integrated Steel Plant of Bellary Steel & Alloys
Hindustan Motors inches higher on registering increase in Q3 net profit
NHPC reports 48.30% decline in its Q3 net profit
New companies bill to be introduced in budget session
MARKET INDISE
On Thursday Jan 27 2011, Local bourses that gained at the outset tracking the strong trading regional peers and positive close of US markets, edged lower within few minutes of the trade. The trade in the morning session was pretty listless and volatile as the trader's adjusted their positions on the settlement for the January derivative contracts. According to the data released by the ministry of commerce and industry on Thursday, food price index rose 15.57% on annual basis during week-ended Jan 15, marginally up compared with 15.53% recorded in the previous week. This situation further added to the investor's gloom which was already weighed down by RBI's move of increasing its key policy rate for the seventh time since March 2010 and raising its inflation forecast for March. Moreover, the markets while approaching the last hour of trade put forth its sluggishness as the 50 share index-Nifty -on NSE for brief moment edged below its four month low, breaching 5600 level to trade at 5,594.95. Further, weakness was felt across the space as all the 13 sectoral indices on BSE were hammered down tracking the weak opening of the European markets. Finally, the market ended the session on extremely submissive note as the benchmark indices tanked over 250 points-Sensex and 80 points Nifty respectively.
The BSE Sensex plunged 285.02 points or 1.50 % to settle at 18,684.43 (Provisional). The index touched a high and a low of 19,086.69 and 18,656.05, respectively. (Provisional). There were just 2 stock advancing against 28 declining on the index. The S&P CNX Nifty plunged 83.10 points or 1.46% to settle at 5,604.30 (Provisional). The index touched a high and a low of 5,726.10 and 5,594.95, respectively.(Provisional). There were 8 stocks advancing against 42 declines on the index (Provisional)
The BSE Mid-cap and Small-cap indices tumbled by 1.88% and 1.35% respectively (Provisional). There were no gainers in the BSE sectoral space (Provisional). While, the major losers in the BSE sectoral space were Realty down by 3.57%, HC down by 2.61%, Metal down by 1.98%, Bankex down by 1.85% and Consumer Durables down by 1.81%(Provisional).
Market Outlook- Cautiously Optimistic
