| India Market Update Archive: |
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Sensex Falls Ahead of Inflation, PPI Data
Apr 10, 5:02 PM EDT |
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| Sensex in sideway trading fell ahead of inflation and industrial production data. Software exporters fell but oil companies gained. |
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| Stock markets in India lost the ground ahead of the release of key economic data on Friday. Industrial production is expected to rise and inflation is expected to be at elevated level. The key index, Sensex lost 0.6% and in the broader markets, Nifty fell 0.3%. Oil and gas stocks gained but software exporters declined on the worries related to the U.S. economic health. Reliance industries authorized 800 crore rupees stock buyback. Crude oil jumped to record $112 a barrel. |
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Yes Bank Earnings Lift Sensex
Apr 09, 3:42 PM EDT |
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| Stocks in Mumbai trading rose on better than expected earnings from Yes Bank and the bank said it ha no exposure to subprime loans in the U.S. |
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| Stock in Mumbai edged higher on better than expected earnings from Yes Bank. The bank also said that it has no exposure to derivatives and risky loans linked to the U.S. loans. The news sent stocks in the banking sector higher. Sensex added 1.3% or 203 to 15,790. On the National Stock Exchange CNX Nifty advanced 0.8% or 37 at 4,747. Tata Power got a loan of $450 million to build a power plant in Mundra, Gujarat with a capacity of 4,000 MW. |
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Inflation and Regional Declines Drag Sensex
Apr 08, 4:41 PM EDT |
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| Stocks in India fell after credit market worries dragged other Asian markets lower. |
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| Stocks in India fell after a sell-off in the region on persistent worries related to credit markets. Sensex declined 1.1% or 169 to close at 5,587.62 and CNX Nifty fell 1.1% or 51 to close at 4,709.65. Larsen & Toubro fell 5.1% to 2,581.30 rupees despite the company receiving four orders worth 1,687 crore rupees. Wipro lost 4% and led the decliners among software exporters. |
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Sensex Surges 2.7%
Apr 07, 3:58 PM EDT |
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| ONGC Videsh acquired rights to drill in Venezuela and Reliance Communication to launch mobile service in Sri Lanka |
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| Mumbai stocks rose sharply after Sebi said that it is considering to streamline dual stock listing on exchanges in India and other countries. Rally in commodities in the region also lifted stocks. Sensex gained 2.7% to close at 15,757 and CNX Nifty added 2.5% to close at 4,761. ICICI Bank and Ranbaxy Laboratories led the advancers in the Sensex index. However, Maruti Suzuki India and Ambuja Cements led the decliners in the index. Reliance Communication is likely to launch service in Sri Lanka. |
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Inflation at 7%, Sensex Down 3%
Apr 04, 1:31 PM EDT |
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| Inflation continues to reach new highs as food and energy prices rise. Weak agriculture productivity and sharp wage gains are lifting inflaiton. |
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| Inflation in March surged to a 4-year high on rising food and energy prices. Investors sold bank stocks and dragged market averages lower and worried that RBI many be forced to act and reduce liquidity in the system. Sensex fell 3.1% or 489 to 15,343.HDFC, ICICI and State Bank of India led the decliners in the Sensex index. |
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IT Stocks Rise, Indian Oil Bonds
Apr 03, 6:38 PM EDT |
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| IT stocks rebounded on the hopes of higher earnings, after losing more than 30% in the last six months of trading. |
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| An advance in IT stocks in India lifted Sensex in the session. Infosys, Wipro, Satyam and Tata Consultancy gained between 3% and 5%. Bharat Heavy fell after it reported net income for the year rose 17% to 2,815 crore rupees. Indian Oil is expected to issue bonds of 31 billion rupees backed by Indian government to fund the losses generated from selling oil below market price. Separately, Reliance Industries plans to close 1,600 petrol stations. |
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Rising Auto Sales, Sensex Up
Apr 02, 4:37 PM EDT |
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| Stocks in India rose after global markets surged led by a rally in financial markets. |
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| Vehicle sales in March rose despite a rise in interest rate. Mahindra sales in March surged 20% and sales at Tata rose 6%. However, Bajaj sales of motorbikes fell 10% on stiff competition in the segment. Maruti earlier reported flat sales from a year ago. Tata Motors rose 1.5% and Mahindra gained 2.6%. Indiabull Securities fell to a new low today. |
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Trade Deficit Surges, Rupee Rises
Apr 01, 9:07 PM EDT |
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| The Reserve Bank of India is likely to let rupee rise to fight the rising inflation. Food and energy prices have surged in the last three months. |
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| Export from India in February rose 35% to $14 billion and imports gained 30% $18.5 billion lifting the traded deficit to $4.2 billion. The trade deficit in the first eleven months increased to $72.5 billion. Wholesale inflation, in the latest data, rose to 6.7%. Sensex index fell 0.11% or 17.8 to 15,626 and CNX Nifty gained 5 to 4,739. |
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Tata Buys Jaguar, Sensex Down
Mar 26, 5:05 PM EDT |
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| Finance minister Chidambaram projects 9% economic grwoth in the current year despite a volatility in the global financial markets. |
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| Tata Group agreed to purchase Jaguar and Land Rover brands from Ford Motor company for $2.3 billion. The deal financed with short term debt may challenge the management at Tata. Jaguar despite receiving more than $10 billion in investment from Ford in the last fifteen years has failed to generate consistent profit and lost sales. In January of 2007, Tata purchased Corus for $11.3 billion. Tata Group generates more than third of its revenue from international sales. |
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Sensex Surges 6%
Mar 25, 4:26 PM EDT |
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| Investors bid stocks higher after a rally in the U.S. sparked a surge in stocks across Asian markets. |
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| Stock in Mumbai trading surged after a rally in Asia stocks lifted market averages across the region. Hong Kong and India led the region with a sharp rebound of more than 6%. Realty, banks and technology stocks led the gainers in Mumbai trading. Sensex gained 6.1% or 928.09. At close, the BSE 30 share closed at 16,217.49. Nifty gained 5.1% or 267.65 to close at 4,877.50 levels. |
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