| India Market Update Archive: |
|
Hong Kong, Korea, India Reach New Highs in Asia
Jul 20, 12:11 PM EDT |
|
| LG Electronic surged 6% in Asian trading on earnings. China Mobile added more than 5 million subscribers in June. |
|
| Asian markets continued their advance supported by higher metals and oil prices and better earnings forecasts. LG Electronics surged 6% on a swing to profit in the second quarter lifting Korea to a record close. Steel makers lifted Japan higher. India jumped on telecom stocks. In Hong Kong financials and telecom stocks led the rally. |
|
|
Full Story... |
Telecoms Lift Indian Stocks to Record Level
Jul 20, 12:44 PM EDT |
|
| Telecom and metals stocks lifted Sensex to a new high in India. Starbucks pulls it application to open a chain of stores in India. |
|
| Sensex in India scaled new high on steady fund flows from international investors and a rise in telecom and metal stocks. Relinance sold 5% stake in its telecom tower unit for $340 million lifting other telecom stocks. Firm metal prices lifted steel, zinc and copper stocks. Cements stocks bucked the trend and corrected. Larsen & Toubro jumped 4% on earnings. Wholesale inflation was reported unchaged at the end of July 7th. |
|
|
Full Story... |
Third Rate Hike in China, May Need More
Jul 20, 1:12 PM EDT |
|
| China raises rates to slow economic growth, lift yuan, and reign food and metals prices. Further hikes in rates may be necessary. |
|
| The central bank in China lifted interest rates on lending and deposits by 0.27% and cut tax rates to 5% from 20% on fixed deposits. The rate hikes were targeted to stabilize prices for food and energy and thwart the fast rising economy. China is expected to report fastest economic growth in 12 years and surpass third-largest German economy this year. Low interest rates have spurred 34% rise in retail sales, a bubble like returns in stock market, and rampant speculation in housing market. |
|
|
Full Story... |
Indian Companies Look Abroad for Targets
Jul 19, 8:16 AM EDT |
|
| Tata Motors is likely to bid for Jaguar and Land Rover from Ford Motor Company. Infosys is likely to bid for BPO arm of Philips. |
|
| Sensex on a firm rally surged on buying in telecom, cement, energy, and auto sectors. Reliance Industries led the gainers, Infosys, Bajaj Auto and Tata Motors also rallied. There were only four decliners in the Sensex with Hindustan Unilever leading decliners. The Finance Minister said that India will continue its tight monetary policy in an effort to curb inflation. Tata Motors, Baja Auto, and Infosys are hunting for overseas acquisitions. |
|
|
Full Story... |
Sensex Edges Higher, Hindalco Surges
Jul 18, 8:19 AM EDT |
|
| The Sensex in India finished slightly higher Wednesday with metal large-cap Hindalco leading gainers. Ericsson won a $2 bln contract from Bharti. |
|
| The benchmark index saw a heavy volatile session with the Sensex going in and out of positive zone, especially in the last hour of trading. Metal, cement and real estate stocks advanced, while capital goods and sugar stocks declined. The best performer on the market were Hindalco and Bharti Airtel, while Larsen & Toubro and ONGC lost the most. Unitech announced it plans to invest $720 million in four years building 28 hotels with partners including Marriott International. |
|
|
Full Story... |
Reliance Surges on Gas Find
Jul 17, 8:07 AM EDT |
|
| The Sensex in India ended a three-day winning streak and lost on weakness in metal and capital goods stocks. Reliance Industries soared. |
|
| The benchmark index saw high volatility in the afternoon session after a firm morning trading. Metal, auto and banking and capital goods stocks declined, while cement, IT and real-estate stocks advanced. Reliance Industries and Ambuja Cements led the advancers, while Mahindra & Mahindra and Reliance Comms paced the declines. Ford Motor may sell a small car model in India. |
|
|
Full Story... |
Reliance Energy in India Surges
Jul 16, 8:07 AM EDT |
|
| The Sensex in India ended with a modest gain Monday in volatile trading with Reliance Energy leading the gainers. |
|
| The market exhibited a range-bound trading Monday and finished with a slight gain for the third straight session. Banking, real estate and cement stocks advanced, while IT and pharma shares declined. Reliance Energy and Bajaj Auto were the top performers, ACC led cement stocks higher. Wipro, Satyam, and Ranbaxy led the decliners. Jaiprakash Associates hired Barclays Capital to sell $400 million of convertible bonds to boost cement production. |
|
|
Full Story... |
Metals Lift Sensex, Inflation Rises
Jul 13, 8:12 AM EDT |
|
| The Sensex in India closed at a record for the second day in a row record high buoyed by a rally in metal stocks. Hindalco and Sterlite soared. |
|
| The market kept the buying momentum from yesterday and saw steady buying in metal stocks, together with auto and cement shares. Pharma stocks led the decliners. Hindalco, Tata Steel and Tata Motors were the best performing stocks, while TCS and Dr Reddys tumbled. Large-caps rally failed to broaden to mid-cap and small-cap stocks. Weekly wholesale inflation edged slightly higher in the last week of June. SAIL up 10%. |
|
|
Full Story... |
Slower Industrial Production, Hindalco Soars
Jul 12, 8:03 AM EDT |
|
| The Sensex in India surged Thursday in an across-the-board rally with Hindalco and Reliance Energy soaring. IT stocks declined. |
|
| The market witnessed a very strong session buoyed by speculation that strong earnings will boost buying in equities. Shares of auto, banking, metals, capital goods sectors all rallied, except for IT stocks which plunged. The market-breadth was very strong and the turnover jumped. Hindalco and Reliance Energy surged, while ONGC and the IT large-caps dipped. Industrial production slowed for a second month in May. |
|
|
Full Story... |
Infosys Plunged 5%, Grasim Surged
Jul 11, 7:59 AM EDT |
|
| The Sensex in India declined Wednesday. Infosys lowered its earnings guidance for the fiscal year. Cement stocks gained on earnings expectations. |
|
| Lowered earnings outlook from Infosys in rupees and weak trading in global markets added volatility to the Sensex. Auto and banking stocks came under heavy selling pressure, while metals, cement and oil stocks gained. Grasim and Tata Steel led the advancers, while IT stocks underperformed with Infosys leading the decliners. The Indian rupee advances may be arrested with the intervention from Reserve Bank of India. |
|
|
Full Story... |
11
12
13
14
15
16
17
18
19
20
|
|
