FIRST LIGHT HEADINGS
Renaissance Jewellery acquires N. Kumar Diamond and its wholly owned subsidiary
Copper prices advance for the third consecutive day on Friday
Emami’s arm buys 90.59% stake in Egypt-based company
Lanco Industries to set up 10,000 MTPA Ferro Alloyes Plant
ONGC reports stellar Q3 numbers
Panoramic Universal to form JV with LGNC
Binani Industries to acquire Composite Products, USA
Federal Bank’s Q3 net profit rose 30%
Jaiprakash Associates’ Q3 net profit zoomes 125.45%
Sun TV Network fixes payment date for interim dividend (9 FEB 2011)
Forex reserves drop $1.977 billion to $299.395 billion
Copper prices advance for the third consecutive day on Friday
Emami’s arm buys 90.59% stake in Egypt-based company
Lanco Industries to set up 10,000 MTPA Ferro Alloyes Plant
ONGC reports stellar Q3 numbers
Panoramic Universal to form JV with LGNC
Binani Industries to acquire Composite Products, USA
Federal Bank’s Q3 net profit rose 30%
Jaiprakash Associates’ Q3 net profit zoomes 125.45%
Sun TV Network fixes payment date for interim dividend (9 FEB 2011)
Forex reserves drop $1.977 billion to $299.395 billion
MARKET INDISE
On Friday Jan 28 2011, Continuing its second straight fall, Indian equity indices after opening on a flat note just within few minutes of trade scaled fresh low's tracking weak regional peers amidst growing domestic concerns over rising inflation and interest rates which gathered momentum after the RBI's quarterly monetary policy review on Tuesday. Both the barometer indices 30 share index-Sensex-- on BSE and 50 stock index--Nifty on NSE tumbled down and were trading below their four months low. However, bears got a more active in the noon session as they ride tough on the back of stocks belonging to Consumer Durables, Auto and Capital Goods space, by then broader indices too had fractured and were suffering down with a cut of over 2%.The Indian equity markets in the mid noon session further nosedived deep into the red as a severe bout of selling pressure engulfed the market on the last trading day of the week and negative opening of European markets, the major indices slid lower as caution prevailed ahead of the release of gross domestic product figures from the United States. However, benchmark indices while approaching the last hour of trade shed off some of its losses but there was no such luck for the non-index counters as they continued to plummet heavily.
The BSE Sensex plunged 288.46 points or 1.54% to settle at 18,395.97(Provisional). The index touched a high and a low of 18,723.12 and 18,235.45, respectively. (Provisional). There were just 8 stock advancing against 22 declining on the index. (Provisional). The S&P CNX Nifty plunged 77.50 points or 1.38% to settle at 5,526.80 (Provisional). The index touched a high and a low of 5,614.40 and 5,459.55, respectively.(Provisional).There were 11 stocks advancing against 39 declines on the index (Provisional)
The BSE Mid-cap and Small-cap indices tumbled by 2.66% and 3.59%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 4.96%, Consumer Durables down by 3.91%, Auto down by 3.56%, CG down by 3.06% and Power down by 2.47% Provisional.
Market Outlook- Cautiously Optimistic
Intra Day Technical Recommendations
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