FIRST LIGHT HEADINGS
GVK Power and Infrastructure subsidiary signs concession agreement with GSRDC
Claris Lifesciences board recommends dividend (rs 2/sh)
Reliance Broadcast Network gets FIPB’s nod to bring in foreign investment of Rs 45.47 cr
Cycle manufacturers want govt to set up regulator to monitor rising steel prices
Sadbhav Engineering allots equity shares against conversion of detachable warrants
Gateway Distriparks' National Long-Term Rating gets affirmed by FITCH
NBFCs hopes to get private banking license in this budget
Scooters India gets heavy industries ministry’s nod for disinvestment
CRISIL reaffirm the rating of "AA+/Stable" to Birla Corporation’s NCD
MARKET INDISE
On Thursday 24 Feb 10, 2011, ,on the Dalal Street, the Indian equity indices seemed prepared to face the volatile day of trade on account of F&O series expiry. Tracking the weak globally cues the markets traded cautiously in initial trade. However, it was post the release of the weekly food inflation data that the markets fell accelerating. As according to the data released by the ministry of commerce and industry on Thursday, food price index rose 11.49% on annual basis during week-ended Feb 12, higher compared with 11.05% recorded in the previous week. However, the markets approaching their final lap with stocks across the board reeling under the sustained onslaught of the bears witnessed a complete blood bath with major benchmark indices tanking over 3% each, while the broader markets too were hammered down cruelly and went home with cut of around 3% each.
The BSE Sensex tanked 510.89 points or 2.81% to settle at 17,667.44 (Provisional). The index touched a high and a low of 18,135.12 and 17,559.70 respectively(Provisional).3 stocks advanced against 27 declining one's on the index (Provisional) . The S&P CNX Nifty plummeted 156.95 points or 2.89% to settle at 5,280.40 (Provisional). The index touched a high and a low of 5423.40 and 5,242.50, respectively (Provisional). Only 2 stocks advanced against 48 declining ones on the index (Provisional).
The BSE Mid-cap and Small-cap indices tumbled 2.69% and 2.74%, respectively (Provisional). All the BSE sectoral indices finished in the red with deep cuts. Capital Goods (CG) down 3.90%, Consumer Durables (CD) down 3.80%, Bankex down 3.69%, Realty down 3.48% and Auto down 3.08%, were the major losers (Provisional).
Asian equity indices finished the day's trade mostly in the negative terrain on Thursday as Libyan turmoil continued to drive oil prices higher, prompting worries that the economic recoveries in the US and Europe could get disrupted, and potentially hurt Asian growth. London Brent crude rose as high as $116 a barrel for the first time since September 2008, having gained about 10% in the past four sessions. US crude last traded at around $106 a barrel. Most of the Asian counterparts lost more than one percent in the trade today. While, Chinese Shanghai Composite rose more than half a percent as coal shares increased on expectations that surging oil price may lift demand for alternative energy sources.
GVK Power and Infrastructure subsidiary signs concession agreement with GSRDC
Claris Lifesciences board recommends dividend (rs 2/sh)
Reliance Broadcast Network gets FIPB’s nod to bring in foreign investment of Rs 45.47 cr
Cycle manufacturers want govt to set up regulator to monitor rising steel prices
Sadbhav Engineering allots equity shares against conversion of detachable warrants
Gateway Distriparks' National Long-Term Rating gets affirmed by FITCH
NBFCs hopes to get private banking license in this budget
Scooters India gets heavy industries ministry’s nod for disinvestment
CRISIL reaffirm the rating of "AA+/Stable" to Birla Corporation’s NCD
MARKET INDISE
On Thursday 24 Feb 10, 2011, ,on the Dalal Street, the Indian equity indices seemed prepared to face the volatile day of trade on account of F&O series expiry. Tracking the weak globally cues the markets traded cautiously in initial trade. However, it was post the release of the weekly food inflation data that the markets fell accelerating. As according to the data released by the ministry of commerce and industry on Thursday, food price index rose 11.49% on annual basis during week-ended Feb 12, higher compared with 11.05% recorded in the previous week. However, the markets approaching their final lap with stocks across the board reeling under the sustained onslaught of the bears witnessed a complete blood bath with major benchmark indices tanking over 3% each, while the broader markets too were hammered down cruelly and went home with cut of around 3% each.
The BSE Sensex tanked 510.89 points or 2.81% to settle at 17,667.44 (Provisional). The index touched a high and a low of 18,135.12 and 17,559.70 respectively(Provisional).3 stocks advanced against 27 declining one's on the index (Provisional) . The S&P CNX Nifty plummeted 156.95 points or 2.89% to settle at 5,280.40 (Provisional). The index touched a high and a low of 5423.40 and 5,242.50, respectively (Provisional). Only 2 stocks advanced against 48 declining ones on the index (Provisional).
The BSE Mid-cap and Small-cap indices tumbled 2.69% and 2.74%, respectively (Provisional). All the BSE sectoral indices finished in the red with deep cuts. Capital Goods (CG) down 3.90%, Consumer Durables (CD) down 3.80%, Bankex down 3.69%, Realty down 3.48% and Auto down 3.08%, were the major losers (Provisional).
Asian equity indices finished the day's trade mostly in the negative terrain on Thursday as Libyan turmoil continued to drive oil prices higher, prompting worries that the economic recoveries in the US and Europe could get disrupted, and potentially hurt Asian growth. London Brent crude rose as high as $116 a barrel for the first time since September 2008, having gained about 10% in the past four sessions. US crude last traded at around $106 a barrel. Most of the Asian counterparts lost more than one percent in the trade today. While, Chinese Shanghai Composite rose more than half a percent as coal shares increased on expectations that surging oil price may lift demand for alternative energy sources.
MARKET OUTLOOK- CAUTIOUSLY OPTIMISTIC
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