Effective from November 27, 2007, the equity shares of Mundra Port and Special Economic Zone Ltd (Scrip Code: 532921) are listed and admitted to dealings on the Exchange in the list of 'B1' Group Securities.
Mundra Port and Special Economic Zone Ltd opened at Rs 770 on the NSE, up 75 per cent from its initial public offer price of Rs 440. On the Bombay Stock Exchange, it opened at Rs 1,100. The stock rules the chart with a turnover of 1767 crore.
The BSE benchmark Sensex on Tuesday fell by 184 points in the initial five minutes of trade on selling by funds due to renewed credit concerns in the global market.
Monday, November 26, 2007
Thursday, November 22, 2007
Sensex Gains over 300 points
Just after the bell, the benchmark sensitive index (Sensex) of the Bombay Stock Exchange (BSE) was up 318 points at 18,844.- The 30-share index, which had lost nearly 76 points yesterday, shot up by 331.42 points to 18,857.74 in the first five minutes of trade.
The broader S&P CNX Nifty of the National Stock Exchange (NSE) was up 103 points at 5,623.
Gains in the Sensex Index were led by Larsen & Toubro Ltd, Reliance Industries Ltd and Icici Bank Ltd. Strong optimism among investors and firm Asian markets in current trades have helped the Indian market remain positive. The market may take a break from consecutive six-session losses. It had already witnessed a smart pullback towards Thursday's close, which is likely to help the sentiment turn positive.
However, foreign institutional investors (FIIs) remained net sellers of equities in the domestic market. On Thursday, US markets were closed due to the Thanksgiving holiday.
Friday, November 16, 2007
Sensex sheds 87 points
Mumbai, Nov 16 Sustained selling of stocks on the benchmark sensitive index (Sensex) of the Bombay Stock Exchange (BSE) led to a nearly 0.44 percent drop Friday.
Sensex shut shop at 19,698.36 points, down by 86.53 points.
The broader S&P CNX Nifty of the National Stock Exchange ended at 5,906.85 points, marginally down by 5.25 points or 0.09 percent.
After Thursday's loss of 144 points, the Sensex resumed 182 points lower at 19,603 but recovered by midmorning.
The major contributors to this recovery were public-sector oil refineries and oil marketing companies, which flared up on expectations of better gross refinery margins.
However, selling in select frontline stocks saw the Sensex zigzag between positive and negative territories for the better part of the day.
Indian markets continued to show their resilience and outperformed their Asian peers, which closed with deep cuts. Hang Seng ended down over four percent, followed by Nikkie down by two percent.
Among the sectoral indices, the BSE FMCG index flared up by 4.31 percent, the BSE capital goods index surged 2.61 percent, the BSE oil & gas index added 1.33 percent and the BSE auto index gained 0.66 percent.
Other sectoral indices were down around 0.5-1 percent each.
The BSE mid-cap and small-cap indices continued to outperform the market. The BSE mid-cap was plotting at 8,512.38 points, gaining 98.29 points or 1.17 percent. The small-cap index closed at 10,380.73, gaining 153.07 points or 1.50 percent.
The top gainers on the Sensex were ITC Ltd, which advanced 8.17 percent to Rs.205.15, Grasim moved up 5.87 percent plotting at Rs.3,831.45 and Dr. Reddy's scaled up 3.39 percent to Rs.620.35.
The top losers on the Sensex were Hindalco down 5.52 percent to Rs.203.80, Larsen & Toubro slid down 2.88 percent to Rs.4,375.85 and Ranbaxy was down 2.82 percent to Rs.411.70.
Sensex shut shop at 19,698.36 points, down by 86.53 points.
The broader S&P CNX Nifty of the National Stock Exchange ended at 5,906.85 points, marginally down by 5.25 points or 0.09 percent.
After Thursday's loss of 144 points, the Sensex resumed 182 points lower at 19,603 but recovered by midmorning.
The major contributors to this recovery were public-sector oil refineries and oil marketing companies, which flared up on expectations of better gross refinery margins.
However, selling in select frontline stocks saw the Sensex zigzag between positive and negative territories for the better part of the day.
Indian markets continued to show their resilience and outperformed their Asian peers, which closed with deep cuts. Hang Seng ended down over four percent, followed by Nikkie down by two percent.
Among the sectoral indices, the BSE FMCG index flared up by 4.31 percent, the BSE capital goods index surged 2.61 percent, the BSE oil & gas index added 1.33 percent and the BSE auto index gained 0.66 percent.
Other sectoral indices were down around 0.5-1 percent each.
The BSE mid-cap and small-cap indices continued to outperform the market. The BSE mid-cap was plotting at 8,512.38 points, gaining 98.29 points or 1.17 percent. The small-cap index closed at 10,380.73, gaining 153.07 points or 1.50 percent.
The top gainers on the Sensex were ITC Ltd, which advanced 8.17 percent to Rs.205.15, Grasim moved up 5.87 percent plotting at Rs.3,831.45 and Dr. Reddy's scaled up 3.39 percent to Rs.620.35.
The top losers on the Sensex were Hindalco down 5.52 percent to Rs.203.80, Larsen & Toubro slid down 2.88 percent to Rs.4,375.85 and Ranbaxy was down 2.82 percent to Rs.411.70.
Wednesday, November 7, 2007
SBI MF plans a second equity-linked savings scheme
SBI Mutual Fund will launch a second equity-linked savings scheme called SBI Tax Advantage Fund Series-1. The asset management company had filed a draft prospectus with the Securities and Exchange Board of India last month.
“The assets under management (AUM) of our Magnum Taxgain scheme have grown quite big, so we decided to come out with a second ELSS,” said Syed Shahabuddin, the managing director and CEO of SBI Mutual Fund.
The AUM under the dividend option of Magnum Taxgain is Rs 3,022.75 crore and under the growth option it is Rs 145.79 crore.
Magnum Taxgain’s total AUM is the largest among all schemes of SBI Mutual Fund.
The scheme’s AUM was Rs 969.40 crore at the end of October last year. It has grown rapidly since then.
SBI Mutual Fund’s total AUM stood at Rs 26,593.57 crore as on October 30 this year against Rs 23,738.68 crore on September 30. >>Read More
Source - The Telegraph
Origin of the word "SENSEX"
It stands for passion, ambition, prosperity, foresight and risk. Hovering around 20,000, Sensex is one of the hottest Indian brands. Little did Deepak Mohoni know that his coinage Sensex would assume so much significance in the times to come.
An IIT and IIM pass-out, Mr Mohoni is the CEO of TrendwatchIndia and humbly admits that it was for reasons of clear simplicity that he abbreviated the word that went on to become a sensation. “I had to type two words for writing sensitive index. So for ease, I christened it Sensex for my columns in 1989,” says Mr Mohoni whose columns used to appear in publications.
While many feel that brand Sensex may be hottest brand these days, hotter even than any cricketer or film personality, until the mid 1990, no one except Mr Mohoni used the word Sensex....>> More
Source : Economic Times Nov. 8
An IIT and IIM pass-out, Mr Mohoni is the CEO of TrendwatchIndia and humbly admits that it was for reasons of clear simplicity that he abbreviated the word that went on to become a sensation. “I had to type two words for writing sensitive index. So for ease, I christened it Sensex for my columns in 1989,” says Mr Mohoni whose columns used to appear in publications.
While many feel that brand Sensex may be hottest brand these days, hotter even than any cricketer or film personality, until the mid 1990, no one except Mr Mohoni used the word Sensex....>> More
Source : Economic Times Nov. 8
Tuesday, November 6, 2007
Markets Positive today - Sensex rises over 200 pts
Nov. 7 - Indian markets opened on a strong note Wednesday on the back of strong cues from the global markets. Broad based buying was witnessed in early trade led by metal, capital good and power stocks.
Gains in the Sensex Index were led by Larsen & Toubro Ltd, Reliance Industries Ltd and Oil & Natural Gas Corp Ltd.Reliance Natural Resources Ltd, which rose 16.45 rupees to 195.00 rupees.
Among the top losers were Infosys down by 4.74 percent at Rs.1,764, Tatapower down by 4.72 percent at Rs.1,291 and Satyam Comp down 3.99 percent plotting at Rs.433.
Asian markets were trading higher. Hong Kong's Hang Seng surged 1.26 percent or 370.54 points to 29,808.67, Japan's Nikkei advanced 0.43 percent or 69.17 points to 16,318.80, Taiwan's Taiwan Weighted gained one percent or 92.78 points at 9,385.58, Singapore's Straits Times was up 0.47 percent or 17.26 points at 3,700.36 and South Korea's Seoul Composite gained 0.94 percent or 19.24 points at 2,073.48.
The Dow rose 117.54 points or 0.87 percent, to 13,660.94. The Standard & Poor's 500 index rose 18.10 points, or 1.20 percent, to 1,520.27, and the Nasdaq composite index rose 30 points or 1.07 percent, to 2,825.18. US indices bounced back in a late session rally on Tuesday helped by energy sector gains. While the Dow Jones advanced by 118 points to 13,661, the Nasdaq added 30 points to close at 2,825.
Gains in the Sensex Index were led by Larsen & Toubro Ltd, Reliance Industries Ltd and Oil & Natural Gas Corp Ltd.Reliance Natural Resources Ltd, which rose 16.45 rupees to 195.00 rupees.
Among the top losers were Infosys down by 4.74 percent at Rs.1,764, Tatapower down by 4.72 percent at Rs.1,291 and Satyam Comp down 3.99 percent plotting at Rs.433.
Asian markets were trading higher. Hong Kong's Hang Seng surged 1.26 percent or 370.54 points to 29,808.67, Japan's Nikkei advanced 0.43 percent or 69.17 points to 16,318.80, Taiwan's Taiwan Weighted gained one percent or 92.78 points at 9,385.58, Singapore's Straits Times was up 0.47 percent or 17.26 points at 3,700.36 and South Korea's Seoul Composite gained 0.94 percent or 19.24 points at 2,073.48.
The Dow rose 117.54 points or 0.87 percent, to 13,660.94. The Standard & Poor's 500 index rose 18.10 points, or 1.20 percent, to 1,520.27, and the Nasdaq composite index rose 30 points or 1.07 percent, to 2,825.18. US indices bounced back in a late session rally on Tuesday helped by energy sector gains. While the Dow Jones advanced by 118 points to 13,661, the Nasdaq added 30 points to close at 2,825.
Monday, November 5, 2007
Stock market crash in Pakistan
Lawyers in different cities of Pakistan Monday staged violent protests against the imposition of emergency and removal of judges, while the Karachi stock exchange plummeted amid rumours that President Pervez Musharraf had been put under house arrest.
In the capital, there was an undeclared curfew around the Supreme Court (SC) building, parliament house, presidency, prime minister's secretariat and the diplomatic enclave where several foreign missions are located.
The entire leadership of opposition parties except for the Pakistan Peoples Party (PPP) remained under house arrest or were sent to different jails. PPP chief Benazir Bhutto, who had been in power-sharing talks with President Pervez Musharraf, was conspicuous by her silence. Unconfirmed reports said she was in Islamabad and held a meeting with Musharraf.
About 200 lawyers tried to stage a protest near the SC building but they were baton-charged and many of them were arrested. Hundreds of lawyers are already under house arrest or detained in police stations. They include Chief Justice Iftikhar Muhammad Chaudhry and about 60 other judges of the Supreme Court (SC) and four high courts. Human rights activists have also been detained.
The judges of the Supreme Court who had refused allegiance to Musharraf by refusing to take a new oath under the Provisional Constitutional Order (PCO) Saturday tried to reach the SC building Monday but were stopped by policemen at the exit points of the judges' colony.
President Musharraf in his capacity as chief of the army staff imposed emergency in the country Saturday and issued the PCO under which he authorised himself to amend the constitution.
He also issued two ordinances curbing media freedom and restricting activities of the electronic and print media.
Lahore saw the most violent protests by lawyers Monday, where police baton-charged their rally and also fired tear-gas shells. Reports said that many of the lawyers were arrested.
Some of the lawyers succeeded in getting into the Lahore High Court building and threw flower petals on rooms of the judges who have not taken oath under the PCO.
Because of complete ban on electronic media, citizens were depending on hearsay and SMS services. Mobile telephone companies offering news service also remained closed without giving any reason.
"We have closed our news service for the time being," a Mobilink customer services representative told IANS while similar statements were given by other cellular companies.
"When truth is not available rumours do take place," Country Director for Internews, Adnan Rehmat, told IANS while commenting on rumours around the country that Musharraf had been arrested and vice chief of army staff General Ashfaq Kiani had taken over.
The rumour had a huge impact on Pakistan's major stock index, which plunged Monday afternoon as a result. Investors in the Karachi Stock Exchange (KSE) dumped shares, pulling the KSE-100 index down by 4.7 percent to 13,265 at 2 p.m.
However, spokesman for Inter Services Public Relations Maj-Gen Arshad Waheed was quick to dispel the rumour, saying: "Some unscrupulous elements were spreading these rumours that are baseless and unwarranted."
In Karachi, no lawyer was allowed to enter the Sindh High Court building and several leading lawyers including the president of the Sindh Bar Association were arrested. Those arrested included Sindh chief justice Sabihuddin Ahmed's son, who refused to take oath under PCO.
Reports said Justice Ahmed tried to leave his house for the court but was not allowed to go out by the police. He, however, said in a statement that he was still chief justice of the Sindh High Court and all steps being taken under the garb of emergency were illegal.
"Police beat us ruthlessly when we came to the Sindh High Court building in the morning and arrested a few dozen of our colleagues," lawyer Akhtar Hussain said.
Reports from other major cities like Peshawar, Quetta, Multan and Faisalabad said that lawyers in these cities protested against the emergency and demanded immediate restoration of all judges of the Supreme Court and high courts.
In the capital, there was an undeclared curfew around the Supreme Court (SC) building, parliament house, presidency, prime minister's secretariat and the diplomatic enclave where several foreign missions are located.
The entire leadership of opposition parties except for the Pakistan Peoples Party (PPP) remained under house arrest or were sent to different jails. PPP chief Benazir Bhutto, who had been in power-sharing talks with President Pervez Musharraf, was conspicuous by her silence. Unconfirmed reports said she was in Islamabad and held a meeting with Musharraf.
About 200 lawyers tried to stage a protest near the SC building but they were baton-charged and many of them were arrested. Hundreds of lawyers are already under house arrest or detained in police stations. They include Chief Justice Iftikhar Muhammad Chaudhry and about 60 other judges of the Supreme Court (SC) and four high courts. Human rights activists have also been detained.
The judges of the Supreme Court who had refused allegiance to Musharraf by refusing to take a new oath under the Provisional Constitutional Order (PCO) Saturday tried to reach the SC building Monday but were stopped by policemen at the exit points of the judges' colony.
President Musharraf in his capacity as chief of the army staff imposed emergency in the country Saturday and issued the PCO under which he authorised himself to amend the constitution.
He also issued two ordinances curbing media freedom and restricting activities of the electronic and print media.
Lahore saw the most violent protests by lawyers Monday, where police baton-charged their rally and also fired tear-gas shells. Reports said that many of the lawyers were arrested.
Some of the lawyers succeeded in getting into the Lahore High Court building and threw flower petals on rooms of the judges who have not taken oath under the PCO.
Because of complete ban on electronic media, citizens were depending on hearsay and SMS services. Mobile telephone companies offering news service also remained closed without giving any reason.
"We have closed our news service for the time being," a Mobilink customer services representative told IANS while similar statements were given by other cellular companies.
"When truth is not available rumours do take place," Country Director for Internews, Adnan Rehmat, told IANS while commenting on rumours around the country that Musharraf had been arrested and vice chief of army staff General Ashfaq Kiani had taken over.
The rumour had a huge impact on Pakistan's major stock index, which plunged Monday afternoon as a result. Investors in the Karachi Stock Exchange (KSE) dumped shares, pulling the KSE-100 index down by 4.7 percent to 13,265 at 2 p.m.
However, spokesman for Inter Services Public Relations Maj-Gen Arshad Waheed was quick to dispel the rumour, saying: "Some unscrupulous elements were spreading these rumours that are baseless and unwarranted."
In Karachi, no lawyer was allowed to enter the Sindh High Court building and several leading lawyers including the president of the Sindh Bar Association were arrested. Those arrested included Sindh chief justice Sabihuddin Ahmed's son, who refused to take oath under PCO.
Reports said Justice Ahmed tried to leave his house for the court but was not allowed to go out by the police. He, however, said in a statement that he was still chief justice of the Sindh High Court and all steps being taken under the garb of emergency were illegal.
"Police beat us ruthlessly when we came to the Sindh High Court building in the morning and arrested a few dozen of our colleagues," lawyer Akhtar Hussain said.
Reports from other major cities like Peshawar, Quetta, Multan and Faisalabad said that lawyers in these cities protested against the emergency and demanded immediate restoration of all judges of the Supreme Court and high courts.
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