Indian Stock Market News

Sensex declines by 49 pts on weak global cues

2009-11-24T04:13:00.000-08:00

Sensex declines by 49 pts on weak global cues
Mumbai, Nov 24 (PTI) The Bombay Stock Exchange benchmark Sensex today fell by 49 points as investors booked profits before the expiry of current month contract in the derivatives segment amid weak Asian trend.

Sensex down 68 pts; Nifty falls below 5,100 pts
Mumbai, Nov 24 (PTI) The Bombay Stock Exchange benchmark Sensex today lost over 68 points in opening trade as funds and retail investors preferred to book profits amid weak Asian markets.

Sensex down 68 points, Nifty falls below 5,100 points
The Sensex today lost over 68 points in opening trade as funds and retail investors preferred to book profits amid weak Asian markets.

Led by RIL Sensex gains 158 points
Mumbai, Nov 23 (PTI) The Bombay Stock Exchange benchmark Sensex today rose by 158 points on sustained buying by funds in heavy-weight stocks led by Reliance Industries.

Sensex weak in early trades
The Sensex opened in the green at the day's high of 17,230 on the back of strong cues from US markets. However, subdued cues from the Asian markets has led the index into the red to a low of 17,111 - down 119 points from the day's high.

Reliance Power Bonus Shares Offer - u get 3 for every 5 u have

2008-02-24T06:08:00.000-08:00

In a bid to reduce losses to shareholders after a dismal listing at India's stock exchanges, Anil Ambani-promoted Reliance Power Ltd Sunday announced issue of bonus shares in the ratio 3:5, which means that the company will issue three free shares for every five shares held.

However, RPL said no bonus shares were issued to the promoters of the company. After the bonus issue, the effective cost of a share to retail investors has dropped to Rs.269 against the retail issue price of Rs.430.

For institutional investors, the corresponding figure is Rs.281 against the issue price of Rs.450 Shares of RPL closed at Rs.416.85 at the close of trading Friday on the Bombay Stock Exchange (BSE). Despite drawing record subscriptions during it initial public offering (IPO), the first day of listing Feb 11 on BSE saw the Reliance scrip close at Rs.372, a huge decline over the issue price of Rs.450, after listing at Rs.547 at the bourse. This had created huge resentment and disappointment among investors, who had overwhelmingly subscribed to the IPO, as many of them expected the scrip to debut higher at around Rs.750-850 a share.

The IPO had attracted more than five million bids from all categories of domestic and international investors with aggregate commitment of over Rs.7.5 trillion ($189 billion) against the issue size of Rs.115.60 billion ($2.91 billion).

Reliance Power is currently developing 12 power projects in the country with a total planned installed capacity of 28,000 MW. This is among the largest portfolios of power generation assets under development.

Future Capital IPO price set at Rs.765

2008-01-17T08:14:00.000-08:00

Future Capital Holdings Ltd said on Thursday it has set a price of 765 rupees a share for its initial public offer (IPO).

Future Capital will raise around 4.91 billion rupees by selling 6.4 million shares.

Future capital is the financial services arm of the diversified Future Group, which promotes top retailer Pantaloon Retail India Ltd.

Future Capital IPO oversubscribed 132 times.

Post IPO, the equity shares are proposed to be listed on the Bombay Stock Exchange and the National Stock Exchange.

CARE signs MOU with Corporation Bank

2008-01-12T00:03:00.000-08:00

Promoted by Banks and Financial Institutions, CARE is engaged in providing credit rating, financial and advisory services to various entities in the corporate and financial sectors in India.

Credit Analysis & REsearch Limited (CARE), a premier credit rating agency, signed a Memorandum of Understanding (MoU) with Corporation Bank.

Promoted by Banks and Financial Institutions, CARE is engaged in providing credit rating, financial and advisory services to various entities in the corporate and financial sectors in India.

Corporation Bank is a Public Sector Bank and offers financial services which are of great value to its customers.

This MoU will enable Corporation Bank in ensuring compliance with the guidelines of the New Capital Adequacy Framework (Basel-II) announced by Reserve Bank of India. Under these guidelines, the capital requirement for a corporate exposure is based on the credit rating assigned by the recognized rating agencies such as CARE.

As per the MoU, Corporation Bank may advise its clients to approach CARE for getting their facilities with the Bank rated. The clients of the bank will benefit from the rating exercise at a discounted rate. All these ratings will be carried out after obtaining mandates from the Bank’s clients/prospective clients.

Corporation Bank will be benefited with the objective and independent assessment of borrower’s credit quality. Further, the sharing of CARE’s analytical insights on various industries and evolving economic environment will help the bank in strategizing its lending decisions.

The customers of Corporation Bank classified as Small Scale Industries (SSI) will benefit from “NSIC–CARE Performance and Credit Rating” at a subsidised fee. This rating product, offered under the Performance and Credit Rating Scheme for SSIs adopted by the Ministry of Small Scale Industries of the Government of India is meant especially for the sector.

Also under the terms of the MOU, the rating requirements of Corporation Bank’s small and medium size customers that are not classified / registered as an SSI unit will be addressed under “CARE SME Rating”.

Source: (IndiaPRwire.com)

UTI Asset Management Company Limited files DRHP with the SEBI

2008-01-12T00:00:00.000-08:00

UTI Asset Management Company Limited (the “Company”), a leading provider of asset management services in India catering to a diverse group of individual and institutional investors through a wide variety of equity and debt funds, has filed the Draft Red Herring Prospectus (“DRHP”) with the Securities and Exchange Board of India (“SEBI”) to enter the capital market soon with an Initial Public Offering of 48,500,000 equity shares of Rs 10 each (“Equity Shares”) through an Offer for Sale by the Selling Shareholders for cash at a price to be decided through a 100% Book-Building Process (the “Offer”). Its four sponsors and the Selling Shareholders are the State Bank of India, Life Insurance Corporation of India, Punjab National Bank and Bank of Baroda (which are all controlled by the Government of India).

The Offer also comprises a reservation of not less than 485,000 Equity Shares for subscription by eligible employees and the Offer to the public of 48,015,000 Equity Shares (the “Net Offer”). The Equity Shares are proposed to be listed on the National Stock Exchange of India Ltd. and the Bombay Stock Exchange Ltd.

Of the total Net Offer, not less than 50% shall be available for allocation on a proportionate basis to Qualified Institutional Buyers, out of which 5% shall be available for allocation on a proportionate basis to Mutual Funds only. Further, not less than 15% of the Net Offer will be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Net Offer will be available for allocation on a proportionate basis to Retail Individual Bidders.

The Company and its predecessor, the Unit Trust of India have been active in the asset management industry in India for more than 40 years, after having established the first mutual fund in India. It has a national footprint with representatives in 455 of India's 604 districts, with an extensive network of 79 UTI Financial Centres, independent financial advisors, banks and other distributors, as well as offices overseas.

The Company, along with its subsidiaries, manages domestic mutual funds, as well as provides portfolio management services and manages overseas funds, venture capital and private equity funds. Its total assets under management ("AUM") equalled Rs 495,418 million, as of September 30, 2007. Based on the AUM in the domestic mutual funds as of December 31, 2007, it is the second largest mutual fund provider in India, according to the Association of Mutual Funds in India (“AMFI”). The Company believes that it has the largest client base among mutual fund providers in India, with approximately 8.1 million client accounts. It has a high concentration of equity and balanced/hybrid funds; and had the second highest market share for equity funds (10.0%) and the highest market share for balanced/hybrid funds (41.9%) in India, as of November 30, 2007. Its income and liquid funds, on a combined basis, had the fourth highest market share (7.1%), according to Value Research.

The Company currently manages 76 domestic equity, balanced/hybrid, income and liquid mutual funds. Its domestic funds had AUM of Rs 450,026 million, as of September 30, 2007, constituting approximately 9.4% of the total AUM invested in mutual funds in India and making it the third largest fund provider, according to AMFI.

The Company’s AUM for domestic mutual funds increased from Rs 138,967 million as of January 31, 2003, to Rs 450,026 million as of September 30, 2007, representing a compound annual growth rate of 28.6%. The Company also provides portfolio management services to approximately 320 clients. It has been recently selected as one of three asset managers to provide portfolio management services to the National Investment Fund. In addition, it has been selected by the Pension Fund Regulatory Development Authority as one of three asset managers to manage funds under a new pension scheme of the Government of India. It manages offshore and foreign institutional investor funds (including a co-branded fund with Shinsei Bank of Japan), as well as venture capital and private equity funds. As of September 30, 2007, its portfolio management, overseas, venture capital and private equity funds had total AUM of Rs 45,392 million.

The Global Co-ordinators and Book Running Lead Managers (“GCBRLMs”) to the Offer are JM Financial Consultants Private Limited, Citigroup Global Markets India Private Limited and Enam Securities Private Limited. The Book Running Lead Managers (“BRLMs”) to the Offer are Goldman Sachs (India) Securities Private Limited, UBS Securities India Private Limited, ICICI Securities Limited, SBI Capital Markets Limited and CLSA India Limited.

- End -

Note

UTI Asset Management Company Limited is proposing, subject to market conditions and other considerations, a public issue of its equity shares and has filed its Draft Red Herring Prospectus (“DRHP”) with the Securities & Exchange Board of India (“SEBI”). The DRHP is available on the website of SEBI at www.sebi.gov.in and on websites of the respective GCBRLMs at www.jmfinancial.in, www.citibank.co.in and www.enam.com; and the respective websites of the BRLMs at www.gs.com/country_pages/india, www.ibb.ubs.com/Corporates/indianipo, www.icicisecurities.com, www.sbicaps.com and www.india.clsa.com.

This press release does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any equity shares, nor shall it or any part of it nor the fact of its distribution form the basis of, or be relied on in connection with, any contract or investment decision. Any potential investor should note that investment in equity shares involves a high degree of risk. For details, potential investors should refer to the DRHP filed with the SEBI including the section titled “Risk Factors”. The Equity Shares of the Company have not been and will not be registered under the U.S. Securities Act 1933, as amended or any state securities laws in the United States. This announcement has been prepared for publication in India and may not be released in the United States. This announcement does not constitute an offer of securities for sale in any jurisdiction, including the United States, and any securities described in this announcement may not be offered or sold in the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act.

Source : indiaprwire.com

Air India IPO likely in second half of 2008

2008-01-11T06:02:00.000-08:00

Air India IPO

New Delhi, Jan 11 The government is considering divesting its stake in national carrier Air India through an initial public offering (IPO) in the second half of 2008.

This was stated by Civil Aviation Minister Praful Patel Friday on the sidelines of a press conference to launch India's first civil aviation exhibition, India Aviation 2008.

"We may consider issuing an IPO in the second half of this year," he told reporters, noting the divestment may be in the range of 10-15 percent of the shareholding.

Patel said he would also be meeting Finance Minister P. Chidambaram to discuss reduction in excise and custom duty on aviation turbine fuel (ATF).

He said states could make their "taxation" policy more "reasonable", by reducing their levy on ATF, which will directly affect ticket prices.

India's aviation growth will be through Indian state governments and smaller cities, rather than the central government or metropolitan cities, he added.

"I am in favour of bringing in the states. They themselves can be the drivers of growth," Patel said.

While he was confident about the airports in Bangalore and Hyderabad becoming operational this year, he had a "little doubt" about the supporting infrastructure like road connectivity, being ready on time.

"I want to make 2008 the year of the helicopter and sea planes," said Patel, adding that it was a mystery as to why these two sectors had not received any attention.

"Why can't we build a heliport in Delhi and Mumbai without bickering?" he asked.

He pointed out that a small nation like Maldives had 30-40 seaplanes, while India, with it long coastline, did not have a single one.

Announcing India Aviation 2008, Patel said that it would be the first international exhibition of its kind in India on the Indian civil aviation sector. The expo will be held between Oct 15 and 18, 2008.

Indian share market scale new heights

2008-01-04T07:19:00.000-08:00

New Delhi, Jan 4 The Key Indian stock market shares zipped to their highest-ever levels Friday on the back of some active buying across several counters and renewed interest ahead of a mega initial offering by Reliance Power.

In the process, the sensitive index (Sensex) of the Bombay Stock Exchange (BSE) rose to a historic intra-day peak of 20,762.80 points, before ending the day at 20,686.89 - also a record close for the barometer index.

At Friday's closing level, the 30-share index had gained 341.69 points, or 1.68 percent, against the previous day's close at 20,345.20, data with the exchange showed.

The gainers and losers among Sensex stocks, however, were evenly matched, with 16 logging advances, and the remaining 14 ending with losses. At a broader level, 1,470 shares declined, 1,437 advanced and 17 remained unchanged.

The broader 50-share S&P CNX Nifty of the National Stock Exchange (NSE) was also up 1.55 percent at 6,274.30 points after scaling an all-time peak of 6,300.05 points against the previous close of 6,178.55.

Consumer durable stocks were the flavour of Friday, with the specific index for such stocks at the BSE registering a 2.56 percent jump, followed by a rise of 2.31 percent in the oil and gas index.

The index for power was also up on account of the interest generated by the upcoming public issue by Reliance Power, owned by Anil Dhirubhai Ambani-led Reliance Energy.

While banking stocks also moved by 2.01 percent, those for automobiles declined 0.73 percent. IT stocks also went down by 1.02 percent and healthcare by 0.07 percent.

Reliance Power IPO Price band Rs 405 to Rs 450

2008-01-02T18:54:00.000-08:00

Each share of Reliance Power has been priced at Rs 405 at the lower end and Rs 450 at the upper end of the band. The company plans to offer the retail investors or those applying for Rs 1 lakh, a 5 per cent discount.

Reliance Power IPO would raise between Rs 10,500 crore to Rs 11,700 crore with the sale of 26 crore shares in the public offer.

Rating agency Crisil assigned an above average 4-on-5 rating to the proposed initial public offer of Reliance Power.

Bankers to the Reliance Power initial public offering issue include ABN Amro Rothschild, Deutsche Bank AG, Enam Securities Pvt., ICICI Securities Ltd., JM Financial Consultants Pvt., JPMorgan Chase & Co., Kotak Mahindra Capital Co. and UBS AG.

MCX IPO - Multi Commodity Exchange of India initial public offering

2007-12-31T00:06:00.000-08:00

As per ET News today - The largest commodity futures bourse in the country - Multi Commodity Exchange of India (MCX) - is all set to hit the primary market with an initial public offering (IPO).

The commodity exchange is likely to announce its long-awaited IPO within a week. Sources said, MCX would sell 10% stake, through a mix of fresh shares and an offer for sale, to raise around Rs 500-600 crore.

According to sources, fresh shares will contribute the majority of the offering while the offer for sale will account for 2-3%. An offer for sale refers to the sale of promoter's existing equity to the public. The bourse has been valued at around $1.2-1.3 billion.

The issue is being managed by DSP Merrill Lynch, Kotak Securities and Enam Financial.

MCX has been mulling over listing on local bourses for the past two years. Sources said, IPO would provide many of its Indian and foreign investors an exit route. Around 24% of MCX is owned by foreign investors. While Fidelity holds 9%, Merrill Lynch and Citi own 5% each. The other investors include US-based Passport Capital (3%) and the UK-based fund GLG (2%). >>> Read More

Just in - MCX Denies IPO Plan

As per Reuters -The Multi Commodity Exchange of India Ltd (MCX) has no immediate plans to enter the market with an initial public offering, a top company official told Reuters.

“No, there are no immediate plans of this nature. The newspapers may have had some sort of a misunderstanding. It is not true,” Joseph Massey, deputy managing director, MCX, said over the telephone. >> Read Source

Eicher Motors signs JV with Volvo

2007-12-10T18:48:00.000-08:00

Swedish giant Volvo bought into Eicher Motors Ltd (EML) and would invest $350 million in a new subsidiary that the two companies would set up.

Volvo and Eicher signed a Letter of Intent on Monday for a joint venture, with an enterprise value of $506 million, that will be a step-down company of EML. Eicher will transfer its commercial vehicles, components and engineering design services business to the new joint venture.

Meanwhile, Shares of Eicher Motors fell sharply on Monday soon after it announced a joint venture with AB Volvo as a step-down subsidiary. The share closed at Rs 477.30, down 12.49 per cent or Rs 68.15. It touched a 52-week high of Rs 599 before the announcement was made. The low for the day was Rs 442.30. Traded volume was 10,52,119 shares.

Silverline Technologies relisted on BSE

2007-12-07T03:51:00.000-08:00

Dec. 7, 2007 - Silverline Technologies got re-listed on BSE on Thursday after its trading was suspended from November 13 in order to give effect to the reduction of capital and de-merger of its animation division.

The Rs 10-stock shot up to Rs 220 and finally closed at Rs 160.50, marking a 1,141 per cent gain over the last closing price of Rs 13 on the exchange. About 33-lakh shares changed hands.

Silverline Technologies has demerged its animation division into a separate unit. The new entity, Silverline Animation Technologies, will be listed on the BSE in two weeks. The equity of the new company has been valued at Rs 12 crore which is 4% of the parent company.

The animation company expects revenues of Rs 20-25 crore by the end of the first year. By 2010, the company is planning reach Rs 100 crore in sales.

The Rs 10-stock shot up to Rs 220 and finally closed at Rs 160.50, marking a 1,141 per cent gain over the last closing price of Rs 13 on the exchange. About 33-lakh shares changed hands.

Source Sify and DNA India

Check status of Edelweiss IPO allotment

2007-12-04T22:50:00.000-08:00

Edelweiss Capital Limited IPO was oversubscribed by around 110.96 times (retail 17.2171 times).Edelweiss IPO Allotment Status is ready and you can check it here - Edelweiss IPO allotment

eClerx Services Ltd IPO Price band

2007-12-04T17:29:00.000-08:00

The price band for eClerx Services Limited has been fixed at Rs 270 and Rs 315.

eClerx Services Limited, a provider of data analytics and customised process solutions to global enterprise clients from its offshore delivery centres in India, proposes to enter the capital markets with an initial public offering of equity shares of Rs 10 each through a 100 per cent book building proces

This Issue has been graded by CRISIL Limited and has been assigned the "IPO Grade 3/5" indicating average fundamentals, through its letter dated October 29, 2007.

The eClerx Services Limited IPO closes for subscription by investors on Friday - December 7, 2007.

The Equity Shares offered through this public issue are proposed to be listed on the Bombay Stock Exchange Limited ("BSE") and the National Stock Exchange of India Limited ("NSE").

Karvy Computershare Pvt Limited is the registrar to the issue. JM Financial Consultants Pvt Ltd and Edelweiss Capital Ltd are the book running lead managers to the issue.

Source : The Hindu

Mundra Port and Special Economic Zone Ltd shares listed today

2007-11-26T23:50:00.000-08:00

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.

Sensex Gains over 300 points

2007-11-22T23:51:00.000-08:00

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.

Sensex sheds 87 points

2007-11-16T05:08:00.000-08:00

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.

SBI MF plans a second equity-linked savings scheme

2007-11-07T21:48:00.000-08:00

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"

2007-11-07T21:33:00.000-08:00

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

Markets Positive today - Sensex rises over 200 pts

2007-11-06T22:39:00.000-08:00

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.

Stock market crash in Pakistan

2007-11-05T21:51:00.000-08:00

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.

Sensex crosses 19K

2007-10-26T02:24:00.000-07:00

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

2007-10-23T20:22:00.000-07:00

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

2007-10-21T23:06:00.000-07:00

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

2007-10-17T05:16:00.000-07:00

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

2007-10-16T23:17:00.000-07:00

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

2007-10-15T05:05:00.000-07:00

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

2007-10-15T00:49:00.000-07:00

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

2007-10-10T08:38:00.000-07:00

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.

SENSEX crosses 17000 points

2007-09-25T22:29:00.000-07:00

Sept. 25 -

India's benchmark stock index crossed 17,000 for the first time Wednesday, having gained more than 1,000 points since the U.S. Federal Reserve cut its key interest rate more than expected last week.

The markets continued their upward march on Wednesday with the benchmark index hitting the 17,000 mark in opening moves.

This is the shortest time that the Sensex has taken to cover 1,000 points. It has taken just five trading sessions for the Sensex to hit 17k from 16k levels.

Read Latest Head lines on Sensex at 17 K

Sensex crosses record 17K level - Times of India
Sensex crosses record 17K level Times of India, India - 18 minutes ago MUMBAI: The benchmark Sensex covered 1000- point journey in the shortest span of six trading sessions, crossing the 17000 -point mark in the early trade ...
Publ.Date : Wed, 26 Sep 2007 05:16:18 GMT

Indian Benchmark Stock Index Hits 17000 - Forbes
Indian Benchmark Stock Index Hits 17000 Forbes, NY - 27 minutes ago The Bombay Stock Exchange's 30-share Sensex rose 0.7 percent to 17013 points as trading opened Wednesday, led by gains in banking and technology shares. .....
Publ.Date : Wed, 26 Sep 2007 05:07:40 GMT

D-Street on on fire: Sensex crosses 17000 - Livemint
D-Street on on fire: Sensex crosses 17000 Livemint, India - 33 minutes ago New Delhi: The markets were on a roll today with the 30-share benchmark index of the Bombay stock exchange crossing the 17000 mark for the first time i...

Bulls on rampage, Sensex hits 17k - NDTV.com
Hindu Bulls on rampage, Sensex hits 17k NDTV.com, India - 31 minutes ago It has taken just five trading sessions for the Sensex to hit 17k from 16k levels. At 17000 levels, the Sensex is trading at a PE multiple of 22....

Indian Sensex Crosses 16000 for the First Time

2007-09-18T23:52:00.000-07:00

Indian shares at record high after Fed rate cut - Forbes
Indian shares at record high after Fed rate cut Forbes, NY - 1 hour ago MUMBAI (Thomson Financial) - Indian shares jumped over 400 points to a record high early today, with the benchmark Sensex crossing the 16000 mark for the ...

India's Sensex Tops 16000 for First Time After Fed Cuts Rates - Bloomberg
India's Sensex Tops 16000 for First Time After Fed Cuts Rates Bloomberg - 59 minutes ago The Bombay Stock Exchange's Sensex , rose 426.81, or 2.7 percent, to a record 16095.93 as of 10:50 am local time. The index surpassed ...

Indian shares cross key 16000 point level - AFP
AFP Indian shares cross key 16000 point level AFP - 1 hour ago MUMBAI (AFP) â€” India's benchmark Sensex index soared above the key 16000 -point level in early trade Wednesday as Asian markets surged after the US Federal ...

Sensex breaks 16000 with 400+ gain in morning trade - Mera Bilaspur
Sensex breaks 16000 with 400+ gain in morning trade Mera Bilaspur, India - 1 hour ago Sensex has breached the 16K barrier within minutes of opening today to reach a life-time high of 16117. Riding the US Fed funds rate and dis...

Markets Open Sharply Higher; Sensex Breaches 16000 Mark - Indian ... - RTT News
Markets Open Sharply Higher; Sensex Breaches 16000 Mark - Indian ... RTT News, NY - 1 hour ago The Sensex breached the all-time high of 15868.85 hit on July 24, 2007 and touched the 16000 mark for the first time. In early ...

Sensex hits 16k on Fed rate cut - NDTV.com
Sensex hits 16k on Fed rate cut NDTV.com, India - 2 hours ago The markets opened firm on Wednesday with the benchmark index making a new high and breaching 16000 levels on global cues. In the broader markets, ...

Sensex touches 16k: SBI, HDFC Infosys lead - Economic Times
Sensex touches 16k: SBI, HDFC Infosys lead Economic Times, India - 1 hour ago MUMBAI: A historic day for Indian equities â€“ the Sensex crossed 16000 a few minutes into the session. The move was triggered by a rally in global ...

Indian shares jump to new high as Sensex crosses 16000 - Khabrein.info
Sahara Samay Indian shares jump to new high as Sensex crosses 16000 Khabrein.info, India - 30 minutes ago Mumbai, Sep 19 (IANS) Indian shares jumped to a new high Wednesday with the key Sensex index surging past the 160...

Sensex surges past 16000 mark - Times of India
Hindu Sensex surges past 16000 mark Times of India, India - 1 hour ago Bombay Stock Exchangeâ€™s Sensex kissed the 16000 mark. FIIs were net buyers of equity worth Rs 23.38 crore on Tuesday while domestic institutional...

Sensex may touch 15k before 16k: Experts - Moneycontrol.com (press release)
Sensex may touch 15k before 16k: Experts Moneycontrol.com (press release), India - 15 Sep 2007 Sensex may go back to 15000 before touching 16000 says Pashupati. He further adds that markets expect a 25bps cut by Fed. Prabhat Aw...

New MF - JM Financial launches fixed-term debt fund

2007-09-18T05:08:00.000-07:00

Equity/bond markets affect balanced funds - Business Standard
Equity/bond markets affect balanced funds Business Standard, India - 15 hours ago Ved Prakash Chaturvedi, managing director of Tata Mutual Fund , said, â€œSince the stock markets as well as debt markets have been quite choppy this season,

For golden years post-retirement, invest abroad - Sify
For golden years post-retirement, invest abroad Sify, India - 2 hours ago Their choices -- if any -- were limited to a handful of international mutual funds and big global companies with shares trading in New York.

JM Financial launches fixed-term debt fund - Economic Times
JM Financial launches fixed-term debt fund Economic Times, India - 3 hours ago The fund house managed assets worth about Rs 4100 crore at the end of August, data from Association of Mutual Funds in India showed.

Sensex Gains 172 Point - (Sept. 18)

2007-09-18T05:01:00.000-07:00

The benchmark Sensex surged over 164 points on the Bombay Stock ... - India Daily
The benchmark Sensex surged over 164 points on the Bombay Stock ... India Daily, NJ - 15 minutes ago The Sensex , which commenced the day with a moderate loss, surged by 164.69 points to 15669.12. It touched the day's high of 15691.88 and a low of 15468.80 ...

Sensex moves up as banks, refiners gain the most - Hindu
Press Trust of India Sensex moves up as banks, refiners gain the most Hindu, India - 30 minutes ago 18 (PTI): The benchmark Sensex surged over 164 points on the Bombay Stock Exchange today on funds buying in heavy-weight stocks in the banking and capital ... Sensex loses 36 points in early trade Hindustan Times Sensex recovers initial losses in late morning deals Hindu Late selling reverses trend, Sensex loses 100 points Hindu Livemint - Economic Times all 27 news articles

Sensex up by 172 pts - Sify
Business Standard Sensex up by 172 pts Sify, India - 1 hour ago The Sensex has now jumped to 15676.59, up 172.16 points or 1.11% over yesterday's closing mark. At 4551.55, the Nifty has gained 1.27% or 56.90 points. ... Sensex rises 52 pts as blue chips rally Sify Sensex up 37 pts in volatile trade @ 10:12 hrs Sify Sensex tumbles 99pts as bluechips falter at close Sify Sify - Sify all 36 news articles

Markets Gain Today on Global cues

2007-09-18T02:01:00.001-07:00

SENSEX REGAINS STRENGTH ON GLOBAL CUES - Trading Markets
SENSEX REGAINS STRENGTH ON GLOBAL CUES Trading Markets, CA - 4 hours ago A long upward march during this fortnight ending September 15 was the longest one-way journey in this year as some of the heaviest on the indices surged to ...

India's Sensex Has Biggest Drop in a Month; Subex Azure Falls - Bloomberg
India's Sensex Has Biggest Drop in a Month; Subex Azure Falls Bloomberg - 21 hours ago Nifty futures for September delivery declined 0.6 percent, to 4483.90. ``Subex cutting its estimates seems to have caused some nervousness amo...

Sensex Edges Lower, Motilal IPO Surges - 123Jump.com
Sensex Edges Lower, Motilal IPO Surges 123Jump.com, FL - 11 Sep 2007 Japan machinery orders jump 17 % in August. Ministries want 88.9 trillion yen for 2008 budget. Stocks in Tokyo recovered from Monday losses on increased ...

Markets May Reveal Volatility Ahead Of Tuesday's Interest Rate ... - RTT News
Markets May Reveal Volatility Ahead Of Tuesday's Interest Rate ... RTT News, NY - 19 hours ago India's Sensex surrendered its early gains and declined steadily over the course of the session. The index ended down 99.37 ...

FIIs turn net buyers in September - Business Standard
FIIs turn net buyers in September Business Standard, India - 14 Sep 2007 "Fearing yet another market correction, investors want to book profits as the Sensex has bounced back over 1800 points (from 13779 on 17 August). ....

Markets gain; smallcap index outperforms
Moneycontrol.com, India -
BSE Small cap and Midcap index are outperforming today. At 1.20 pm, the Sensex is up 89.76 points or 0.58% at 15594.19, and the Nifty up 36.20 points or ...

Mutual Fund India Latest Headlines

2007-09-17T05:12:00.000-07:00

A basket of goodies - What Investment
What Investment A basket of goodies What Investment, UK - 8 hours ago According to SPA ETF Europe's James Oates, new entrants to the ETF market are set to give the more esta...

Greater flexibility through funds - Business Standard
Greater flexibility through funds Business Standard, India - 16 hours ago Yes, NRIs are allowed to invest in mutual funds in India . The cheques can either be drawn on your FCNR...

Huge redemption in MF debt schemes; equity funds hold fort - Economic Times
Huge redemption in MF debt schemes ; equity funds hold fort Economic Times, India - 16 Sep 2007 The equity funds recorded an inflow of close to Rs 8000 crore, according to data ...

Panel to work out roadmap for Saarc development fund - The Tribune
Panel to work out roadmap for Saarc development fund The Tribune, India - 15 Sep 2007 by KR Wadhwaney by AN Shanbhag Q: Under which section income (long term and short term) from ...

Sahara plans two new mutual funds in UP - Business Standard
Sahara plans two new mutual funds in UP Business Standard, India - 11 Sep 2007 Sahara Mutual Fund (SMF), the mutual fund arm of Sahara India Parivar, is set to gear up its ac...

SEBI in News Sept. 17

2007-09-17T05:02:00.000-07:00

Brigade files IPO papers with SEBI - Economic Times
Brigade files IPO papers with SEBI Economic Times, India - 13 minutes ago MUMBAI: Brigade Enterprises, a Bangalore-based real estate company, has filed papers for its initial public offering with the Securities & Exchange Board of ...
Publ.Date : Mon, 17 Sep 2007 11:48:35 GMT

United Phosphorus to raise $500mn - Business Standard
United Phosphorus to raise $500mn Business Standard, India - 2 hours ago ... the board also approved a proposal to raise further equity by way of preferential issue of 3.12 crore warrants to the promoters as per Sebi guidelines.
Publ.Date : Mon, 17 Sep 2007 09:54:46 GMT

SEBI open to hedge funds - The Statesman
SEBI open to hedge funds The Statesman, India - 4 hours ago All we are telling them is if you want to come here, come through the front door,â€ SEBI chairman Mr M Damodaran said. â€œHedge funds started as a normal class ...
Publ.Date : Mon, 17 Sep 2007 07:48:43 GMT

Bourses lure small cos with lucrative offers - Economic Times
Bourses lure small cos with lucrative offers Economic Times, India - 12 hours ago According to sources, BSE had already submitted its proposal to the Securities and Exchange Board of India ( Sebi ) and is ready to dole out lucrative ... Reviving small exchanges Economic Times all 3 news articles
Publ.Date : Sun, 16 Sep 2007 23:40:33 GMT

SEBI proposal to waive entry load - Economic Times
SEBI proposal to waive entry load Economic Times, India - 15 Sep 2007 The Securities and Exchange Board of India ( SEBI ) has proposed to waive the 'entry load' for investors making direct applications in mutual fund schemes. ... Relationship managers feel the heat of entry-load removal Moneycontrol.com all 3 news articles
Publ.Date : Sun, 16 Sep 2007 00:35:01 GMT

Tata Sons to make open offer for 28 pc stake in TICL - Economic Times
Tata Sons to make open offer for 28 pc stake in TICL Economic Times, India - 13 minutes ago This price is also higher than the minimum price of Rs 439 computed on the basis of the relevant SEBI pricing formula under the regulations. ...
Publ.Date : Mon, 17 Sep 2007 11:48:32 GMT

Brigade Enterprises files papers for IPO - Business Standard
Brigade Enterprises files papers for IPO Business Standard, India - 2 hours ago ... and hospitality properties, has filed its draft red herring prospectus with the Sebi to enter the capital market with its initial public offering (IPO). ...
Publ.Date : Mon, 17 Sep 2007 09:35:39 GMT

Bombay Stock Exchange Headlines

2007-09-17T04:56:00.000-07:00

Sensex vaults 122 pts in on buying support (Indian Express via Yahoo! India News)
The Bombay Stock Exchange (BSE) benchmark Sensex on Monday jumped by 122 points during morning session on revival of buying support after reports of settlement of the crisis at UK-based mortgage lender Northern Rock that led to heavy selling on Friday. The 30-share index opened firm at 15,664.74 and later touched a high of 15,726.06 in the initial 30 minutes of trading, up 122.26 points over ...
Publ.Date : Mon, 17 Sep 2007 06:11:06 GMT

Sansui Software Pvt. Ltd. (Press Trust of India)
Mumbai, Sep 17 (PTI) The Bombay Stock Exchange (BSE) benchmark Sensex today jumped by 122 points during morning session on revival of buying support after reports of settlement of the crisis at UK-based mortgage lender Northern Rock that led to heavy selling on Friday.
Publ.Date : Mon, 17 Sep 2007 05:48:45 GMT

Small-cap and mid-cap scrips outshine the Sensex last week (Deepika)
Mumbai, Sep 15 (UNI) The Bombay Stock Exchange (BSE) Sensex rose 13.38 points or 0.09 per cent to settle at 15,603.80 in the week ended September 14, yesterday.
Publ.Date : Sat, 15 Sep 2007 17:36:14 GMT

V-C's bluechip idea: invest university corpus in stock market (Indian Express via Yahoo! India News)
Earlier this year, when Mumbai University Vice-Chancellor Vijay Khole had proposed that the university get itself listed on the Bombay Stock Exchange, the idea was seen as way ahead of its time. But it now seems that slow steps in that direction are being considered by the University Grants Commission (UGC) itself: one of the suggestions that came up on Friday during the ongoing ...
Publ.Date : Fri, 14 Sep 2007 21:13:47 GMT

Sensex closes above 15K (Central Chronicle)
Mumbai, Sept 14: The Bombay Stock Exchange benchmark Sensex failed to hold on to its early gain on Friday and ended lower by 10 points on fag-end profit booking by funds.
Publ.Date : Fri, 14 Sep 2007 17:08:00 GMT

Sensex vaults 122 pts in on buying support (PTI via Yahoo! India News)
Mumbai, Sep 17 (PTI) The Bombay Stock Exchange (BSE) benchmark Sensex today jumped by 122 points during morning session on revival of buying support after reports of settlement of the crisis at
Publ.Date : Mon, 17 Sep 2007 06:01:48 GMT

Sensex up by 106 points in early trade (Hindustan Times)
The benchmark index gained nearly 106 points in early trade on the Bombay Stock Exchange on Monday on heavy buying by foreign as well as domestic funds in blue-chip stocks.
Publ.Date : Mon, 17 Sep 2007 05:38:30 GMT

Sensex India Headlines - September 17

2007-09-17T04:44:00.000-07:00

India's Sensex Has Biggest Drop in a Month; Subex Azure Falls - Bloomberg
India's Sensex Has Biggest Drop in a Month; Subex Azure Falls Bloomberg - 20 minutes ago The Bombay Stock Exchange's Sensex fell 99.37, or 0.6 percent, to 15504.43, its biggest decline since Aug. 21. The S&P/CNX Nifty Index on the National Stock ... India's Sensex Falls on UK Credit Concerns; State Bank Drops Bloomberg Indian Stocks Rise; Reliance Industries Gains as Infosys Falls Bloomberg Indian shares rise on firm global cues ahead of inflation data release CNNMoney.com CNNMoney.com - Forbes all 24 news articles
Publ.Date : Mon, 17 Sep 2007 11:23:39 GMT

Markets pare gains - NDTV.com
Markets pare gains NDTV.com, India - 3 hours ago The Sensex touched a high of 15726 levels in intra-day deals. In the broader markets, the Nifty is trading flat at 4522 levels, up 0.1 per cent or 5 points. ... Mkts lose further ground as selling gathers momentum Sify Weekly wrap: Sensex , Nifty move up marginally Sify The markets gained ground in opening moves on Monday with the ... NDTV.com Business Standard - Sify all 16 news articles
Publ.Date : Mon, 17 Sep 2007 08:32:07 GMT

Mkts should be worried by lower IIP nos: Gryffon Invt Adv - Moneycontrol.com
Mkts should be worried by lower IIP nos: Gryffon Invt Adv Moneycontrol.com, India - 5 hours ago The Nifty closed down 11 points at 4518 while the Sensex shut shop at 15604 down about 11 points. US stocks closed with modest gains on Friday as investors' ... Experts see mkt nervousness before Fed decision Moneycontrol.com all 5 news articles
Publ.Date : Mon, 17 Sep 2007 06:04:27 GMT

â€˜India-focused hedge funds among top global performersâ€™ - Hindu Business Line
â€˜ India -focused hedge funds among top global performersâ€™ Hindu Business Line, India - 16 hours ago In the last 12 months through July, the average return for India -focused hedge funds was 53.6 per cent, dwarfing the 45 per cent return on the Sensex . ...
Publ.Date : Sun, 16 Sep 2007 19:40:40 GMT

Market watch | Week of reckoning - Hindustan Times
Market watch | Week of reckoning Hindustan Times, India - 18 hours ago A rally, which takes the Sensex to new highs too. After the initial rally though, people will start wondering whether such stern action from the Fed ...
Publ.Date : Sun, 16 Sep 2007 17:15:13 GMT

Mkts: Weakness persists; Heavyweights struggle @ 15:10 hrs - Sify
Mkts: Weakness persists; Heavyweights struggle @ 15:10 hrs Sify, India - 28 minutes ago At 15527.58, around 50 points off a low of 15467.46 it touched earlier this afternoon, the Sensex is 76.22 points or 0.49% behind its previous closing mark. ... Sensex ends down nearly 100pts, REL gains 3% Business Standard Sensex down 75pts; NTPC, Bharti down 2% Business Standard Sensex ends down 10pts; ICICI Bank gains 3% Business Standard all 4 news articles
Publ.Date : Mon, 17 Sep 2007 11:15:27 GMT

Sensex above 15600, Analysts say earnings will fall - CNN-IBN
Sensex above 15600, Analysts say earnings will fall CNN-IBN, India - 5 hours ago At 9:56 hours, Sensex was up 36 points at 15640 and Nifty was up 10 points at 4527. Major gainers in the opening trade were ACC, SAIL, L&T, ONGC, SBI, ... Local political developments will outweight global cues this week NewKerala.com all 3 news articles
Publ.Date : Mon, 17 Sep 2007 06:12:54 GMT

Market closes lower amid political nervousness

2007-08-23T04:16:00.000-07:00

Source: Moneycontrol.com

It was an extremely volatile session for the markets on the back of political unceratnity on Indo US nuke deal. There was extreme political nervousness after 1:00 pm which took markets in the red zone.

The Left has taken a hard stance. Central Committee describes Indo-US Nuke deal as 'unacceptable', Central Committee says Govt must not negotiate with IAEA for safeguards.

The midcaps and smallcaps took it on the chin and ended with deeper cracks.

Sensex and Nifty has been swinging sharply on both the side of flat line. Sensex has swung nearly 400 points and Nifty has swung over 100 points. The fall has come despite some positive cues from Asia and US equity markets.

Read Complete news

Indian Stocks Rise; Reliance Industries, Ambuja Cements Advance

2007-08-23T01:03:00.000-07:00

Aug. 23: ( Bloomberg) Indian stocks rose, mirroring gains in global markets as concern eased that a credit crisis triggered by losses on U.S. home loans will derail global economic growth. Reliance Industries Ltd. led the advance.

``Worries easing on the U.S. loan front has sparked a global rally and India is participating in it,'' said Jayesh Shroff, who helps manage the equivalent of about $5 billion of assets at SBI Funds Management in Mumbai.

Ambuja Cements Ltd., the country's fourth biggest cement maker, gained after Holcim Ltd., the world's second-largest cement maker, said it plans to raise its stake in Ambuja. Read More