FIRST LIGHT HEADINGS
Tata Power Company’s Q3 consolidated net profit zooms by 378%
No major changes in corporate tax structural likely in Budget
Gayatri Projects' Q3 net profit up 15.43%
Satyam Computer Services allot equity shares under ESOP
Hatsun Agro Product fixes record date for payment of interim dividend
Natco Pharma fixes record date for payment of interim dividend
MARKET INDISE
On Monday Jan 14 2011, With investors lining up to lap up stocks after recent weak spells, the brightly trading equity market extending previous sessions rally ended the start of the weak on a stellar note supported by firmly trading global markets. The local bourses pulled back over 5% from their previous week's low .The firm trend in Asian markets, short-covering and bargain hunting after recent sharp losses contributed to the impressive surge. Also some impressive results, especially from Tata Motors and Mahindra Satyam, too contributed to the buoyant mood. Buying was unabated in all of the components since all the sectoral indices ended up in positive territory with notable gains. Though Healthcare and information technology stocks took some time to join the rally, but managed to close with good gains on sustained buying support.
The BSE Sensex surged by 473.59 points or 2. 67% to settle at 18,202.20 and NSE 50-scrip Nifty up 146 points or 2.75% and closed at 5456. The BSE Mid-cap and Small-cap indices gained 3.52% and 3.94%, respectively. In the BSE sectoral space all the indices were in jubilant mood and gained considerably, Capital Goods (CG) up by 5.26%, Auto up by 3.79%, Metal up by 3.53%, Consumer Durables (CD) up by 3.40%, Bankex up by 3.37%, were the major gainers. The top gainers on the Sensex were L&T up by 7.21%, JP Associates up by 6.73%, Tata Motors up by 5.58%, BHEL up by 4.71% and Jindal Steel was up by 4.56%.
On the global front, Other Asian markets snapping a five-day losing spree edged higher after the resignation of Egyptian President Hosni Mubarak which lifted equity markets and reduced the demand for safe havens such as government debt and gold. Meanwhile, European shares rose on Monday to a 29-month high as buzz of slower-than-expected Chinese inflation data and strong China trade figures boosted sentiment. The Asian markets were in rally mood since beginning and made an all green close with some indices gaining about 1-2 percent for the day. On the other hand the Japanese market moved higher as the gross domestic product fell less than estimated in the fourth quarter. The annualized 1.1 percent drop in GDP in the three months through December was driven by a slowing in exports and fading of government stimulus programs.
Meanwhile, The market continued it's up move heroically even after the January inflation data which even after a marginal decline remained at a fairly elevated level due to higher prices of essential food articles and costlier fuel prices. Inflation, as measured by the Wholesale Price Index, stood at 8.23% in the month under review versus 8.43% in the preceding month, the data revealed.
On the other hand International Monetary Fund (IMF) praised the conservative financial reform strategy of India that has helped the country save itself from the global financial crisis which saw most of the countries de-growing and the financial system of the rich world nearly collapsing.
Tata Power Company’s Q3 consolidated net profit zooms by 378%
No major changes in corporate tax structural likely in Budget
Gayatri Projects' Q3 net profit up 15.43%
Satyam Computer Services allot equity shares under ESOP
Hatsun Agro Product fixes record date for payment of interim dividend
Natco Pharma fixes record date for payment of interim dividend
MARKET INDISE
On Monday Jan 14 2011, With investors lining up to lap up stocks after recent weak spells, the brightly trading equity market extending previous sessions rally ended the start of the weak on a stellar note supported by firmly trading global markets. The local bourses pulled back over 5% from their previous week's low .The firm trend in Asian markets, short-covering and bargain hunting after recent sharp losses contributed to the impressive surge. Also some impressive results, especially from Tata Motors and Mahindra Satyam, too contributed to the buoyant mood. Buying was unabated in all of the components since all the sectoral indices ended up in positive territory with notable gains. Though Healthcare and information technology stocks took some time to join the rally, but managed to close with good gains on sustained buying support.
The BSE Sensex surged by 473.59 points or 2. 67% to settle at 18,202.20 and NSE 50-scrip Nifty up 146 points or 2.75% and closed at 5456. The BSE Mid-cap and Small-cap indices gained 3.52% and 3.94%, respectively. In the BSE sectoral space all the indices were in jubilant mood and gained considerably, Capital Goods (CG) up by 5.26%, Auto up by 3.79%, Metal up by 3.53%, Consumer Durables (CD) up by 3.40%, Bankex up by 3.37%, were the major gainers. The top gainers on the Sensex were L&T up by 7.21%, JP Associates up by 6.73%, Tata Motors up by 5.58%, BHEL up by 4.71% and Jindal Steel was up by 4.56%.
On the global front, Other Asian markets snapping a five-day losing spree edged higher after the resignation of Egyptian President Hosni Mubarak which lifted equity markets and reduced the demand for safe havens such as government debt and gold. Meanwhile, European shares rose on Monday to a 29-month high as buzz of slower-than-expected Chinese inflation data and strong China trade figures boosted sentiment. The Asian markets were in rally mood since beginning and made an all green close with some indices gaining about 1-2 percent for the day. On the other hand the Japanese market moved higher as the gross domestic product fell less than estimated in the fourth quarter. The annualized 1.1 percent drop in GDP in the three months through December was driven by a slowing in exports and fading of government stimulus programs.
Meanwhile, The market continued it's up move heroically even after the January inflation data which even after a marginal decline remained at a fairly elevated level due to higher prices of essential food articles and costlier fuel prices. Inflation, as measured by the Wholesale Price Index, stood at 8.23% in the month under review versus 8.43% in the preceding month, the data revealed.
On the other hand International Monetary Fund (IMF) praised the conservative financial reform strategy of India that has helped the country save itself from the global financial crisis which saw most of the countries de-growing and the financial system of the rich world nearly collapsing.
MARKET OUTLOOK- CAUTIOUSLY OPTIMISTIC
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