Sensex crosses 19K

SEBI's decision on participatory notes has gone down well with overseas investors, who led the benchmark sensitive index (Sensex) of the Bombay Stock Exchange to a new high of 19,234 Friday morning.

At around noon, the Sensex was up by 446.22 points or 2.38 percent, plotting at 19,217.

The broader S&P CNX Nifty of the National Stock Exchange was up by 126.70 points or 2.28 percent at 5,700.

All key BSE indices were trading in the green. The market breadth was positive and trade volumes were also impressive.

The mid-cap and small-cap indices were among the star performers of the day by plotting a gain of 165.29 points or 2.13 percent. Around noon, the mid-cap index was trading at 7,916.22 points.

Among the top gainers on the Sensex were Reliance Energy at Rs.1,701 up 3.12 percent, Tata Steel at Rs.1,017.05 up 2.85 percent and ACC at Rs.1,090 up 2.71 percent.

Top losers on the Sensex were Dr Reddy's Labs at Rs.606.90 down 1.25 percent, Hindustan Unilever Ltd at Rs.219 down 0.68 percent and Wipro at Rs.494.70 down 0.33 percent.

Rules on I.Tax on Employee Stock Options framed

The Finance ministry on Tuesday announced the rules for valuing employee stock options for taxation purposes.

The government had proposed in the Budget charging fringe tax on the value of shares or sweat equity allotted to employees by a company free or at concessional rates.

But the tax authorities had not firmed the rules for valuation of such benefits so far.

The fair market value of stock options for tax computation will be the average of the opening and closing price of a firm's share on the day the option vests, Finance ministry Spokes person said in a statement on Tuesday.

"In a case where, on the date of the vesting of the option, the share in the company is listed on a recognised stock exchange, the fair market value will be the average of the opening price and closing price of the share on that date on the said stock exchange," it said.

Source: Reuters

Sensex see saws - Rupee Down

The benchmark Sensex plunged by 389 points in the opening trade on the BSE on Monday with funds turning a net sellers ahead of market regulator's decision on foreign funds inflow rallied into the positive territory to rallied into the positive territory to 17,667 a few minutes ago. few moments ago.

ICICI Bank Ltd., gained after its second-quarter profit rose 33 percent, beating analyst estimates.

Asian Markets fall
Asian markets declined on Monday after broad selling by exporters. Japan's Nikkei average tumbled 3.2 per cent to a four-week low, battered by a strong yen and a slide on Wall Street and the broader TOPIX index hit one-month low soon after the opening.


Rupee down

The rupee was at 39.895/39.905 a dollar from the previous close of 39.73/39.74, due to dollar demand in the opening deals.

Stock Markets Recover after assurances of FM

The Bombay Stock Exchange benchmark Sensex on Wednesday closed 336.04 points down, after recovering over 1,400 points from the day's low, as reassuring comments from the government and the market regulator lifted investors' sentiments. The 30-share Sensex settled at 18,715.82 points, down 1.76 per cent from the previous close. It had dropped by 1,744 points in intra-day trade.

The market recovered after assurances that the measures weren't aimed at foreign institutional investment but only at the PNs.

The Sensex had risen to dizzying heights in recent weeks, driven by a strong economy which has been attracting a massive flow of foreign funds.

Sensex crashes - falls over 1700 pts

The stock market benchmark Sensex today crashed by over 1700 points within minutes of opening, prompting suspension of trade for an hour a fallout of regulator Sebi's move to curb Foreign Institutional Investors.

The 30-share index, Sensex, tumbled to 17,307.90, a fall never seen before.

The fall forced the trading to be suspended for one hour on BSE.

The fall comes days after Finance Minister P Chidambaram expressed surprise at rising stock prices and hoped for things to cool down.The Finance Minister said that the SEBI’s proposed move to impose partial restrictions on investment through offshore derivative instruments, including participatory notes (PNs), equity linked notes and capped return notes - the key instruments used by foreign institutional investors (FIIs) to invest in India – were only meant to moderate capital inflows.

The National Stock Exchange's wide-based index Nifty also plunged 9.25 per cent to 5,658.90 points today.

Trading at India's stock exchanges was halted for one Hour after the benchmark index plunged eight per cent in early trading as the market regulator moved to curb buying by foreign funds.

Experts say that Markets are getting stabilized

Sensex crosses 19K

The Bombay Stock Exchange's benchmark 3--share Sensex crossed the 19000-point mark on Monday, just four days after touching the 18K point mark.

It is the fastest ever rally of a thousand points in its own history.

The push was led by five companies, which accounted for 60 percent of Monday's s growth. The companies were Reliance Industries Ltd, ICICI Bank, Rekliance Energy, Larsen and Toubro and ONGC.

The Sensex gained 594 points to touch a historic high of 19000 points at 2.50 p.m.

The above 19,000 barrier marked revival of funds-based buying in blue chip stocks in metal, capital goods and refinery segments. Read Complete News

The 30-share Sensex, which snapped a long rally by losing nearly 395 points on Friday, resumed its record setting journey.

The buying activity also picked up in capital goods and refinery stocks.

Marketmen said the current rally was supported by metal, refinery and capital goods stocks besides a major gain in Reliance pack of stocks belonging to both Ambani brothers.

Sensex Gains over 400 pts - Foreign Funds inflow

Sensex Zooms over 514 points by noon

Share Market in India opened higher, after a bad Friday, buoyed by gains on Wall Street and helped by all-round purchases from foreign funds.

Domestic sentiment was also boosted with the improving mood in other Asian markets. Most Asian markets, which were trading mixed, had moved into positive territory.

Information technology stocks remain somewhat subdued even as stocks from other sectors are having a nice ride up the charts today.

Banking shares rose on hopes that demand for loans will increase during the Indian festival season, which got under way last week.

The buying activity also picked up in capital goods and refinery stocks. Marketmen said the current rally was supported by metal, refinery and capital goods stocks besides a major gain in Reliance pack of stocks belonging to both Ambani brothers.

SBI reduces interest rates for new Home Loans Car loans

Mumbai, Oct 10 India's largest public sector bank, the State Bank of India (SBI) Wednesday announced cut in interest rates on new loans for homes, automobiles and farm equipment as a festival season offer that runs till Dec 31 this year.

Home loan rates were lowered by 0.50-1.0 percent, depending on loan maturities and amount of loan. The bank is also offering a discount if the borrower has a salary account with it.

Interest rates for loans for cars and two-wheelers have been reduced by up to 1.0 percent, depending on the amount and maturity of loan. New car loans are now available at 11-12 percent.

Personal loans are also cheaper by 0.50 percent to 1 percent. The bank is also offering 50 percent concession in processing charges for personal loans.

The proposed rates are applicable to all new loans sanctioned on or after Oct 8 and are valid up to Dec 31, said a bank statement.