| India Market Update Archive: |
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Large and Mid Cap Stocks Fall
Jan 24, 9:42 AM EST |
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| Sensex in India did not participate in the Asia wide rally on the back of the higher closing in New York. Large and mid cap stocks fell. |
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| Stocks in Mumbai trading fell after a weakness in mid and large cap stocks. The goverment is looking to moderate fund flows in the capital market from international investors. The market volatility and rising inflation are driving the goverment review. The BSE 30-share Sensex declined 2.1% or 372.33 to 17,221.74. The broader CNX S&P Nifty slipped 3.3% or 169.95 to 5,033.45. Trading voulme has declined on the BSE and NSE exchanges. |
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Record One-Day Gain in India
Jan 23, 10:13 AM EST |
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| Stocks in India recovered after a surprise rate cut by the Federal Reserve in the U.S. Stocks rallied in after indexes rose in record one-day gains. |
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| Stocks in India registered a record one-day gain on the back of rally across Asia. The surprise rate cut from the Federal Reserve in the U.S. lifted markets in India and in the region. Sensex recovred from a loss of 16% in two-day sell-off and 20% decline for the year so far. Sensex advanced 5.2% or 864.13 to 17,594.07. The CNX S&P Nifty surged 6.2% or 304.10 at 5,203.40. Banks, realty, and metal companies rallied. |
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Sensex Declined 20% From Peak
Jan 22, 4:36 PM EST |
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| Indian stocks fell for the second day in a row on margin calls, lack of buyers, and worries related to the U.S. slowdown. |
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| Margin callls, global worries, and lack of retail buyers, all came together for the second day in a row. Sensex dropped 5% or 875 to 16,729. During the day it had dropped as low as 15,332. Finance Minister Chidambaram urged investors to be calm. Sensex and CNX Nifty are down 20% from the peak and midcap and small cap indexes on BSE are down 30%. Reliance industries, ONGC, HDFC Bank, ICICI Bank, and ITC led the decliners list in the large cap sector. Bhrti Airtel rebouded 3%. |
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Sensex Loss of 7.4% Leads Asian Fall
Jan 21, 5:16 PM EST |
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| Sensex in India suffered its one of worst losses as international sold stocks and retail investors stayed away from markets. |
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| Mumbai witnessed one of its worst one-day losses on dearth of buyers, net selling from international investors, and rising worries that global economic slowdown will hurt corporate profits. Small and mid cap stock indexes on the BSE fell nearly 12%. CNX Nifty index of 50 stocks fell nearly 9%. The sell-off was widespread with every member in the Sensex falling. Relinace Industries plunged 9%. ICICI Bank dropped 6% after reporting 35% rise in earnings. European markets faced sell-off. |
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India Plunges on Weak Global Markets
Jan 18, 10:25 AM EST |
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| Sensex fell 3.5% on the worries that the potential U.S. recession could lower economic grwoth in India by 0.5%. |
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| Indian stocks fell for the fifth session in a row. Sensex plunged 3.5% or 687 to 19,013 after global markets closed sharply lower on the talks of U.S. recession. HDFC third quarter earnings rose 83% on rising loan portfolio. ITC, the tobacco giant, reported 16% rise in earnings on 13% rise in sales. |
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Reliance Ind and Energy Profit Gains
Jan 17, 10:51 AM EST |
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| Sensex in india fell for the fourth day in a row. TCS earnings rose 7% to 1,331 crore rupees. |
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| Stocks in India fell for the fourth day in a row. Ssensex index declined 0.8% or 167.30 to 19,700.82. Reliance Industries fell 3% after it reported 162% rise in net income on 23% rise in net sales. Reliance Energy fell 2.4% to 2,212 after it reported proft rise of 50% on 1.8% rise in sales. TCS fell 2.3% after it posted 7% increase in profit. |
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Infosys Earnings Rise, Sensex Up 1.2%
Jan 11, 6:54 PM EST |
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| Infosys reported 32% rise in sales and 42% gain in earnings in the third quarter ending in December 2007. The company raised earnings guidance for 08. |
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| Sensex in Mumbai trading rose 1.2% or 245.37 to close at 20,827.45 and CNX Nifty gained 0.7% or 43.15 to close at 6,200.10. Manufacturing output in November rose 5.3%, lower than market expectations. Wholesale inflation increased at 3.5% at the end of the last week in Dec 2007, lower than a year go. Infosys revenue rose 32% and earnings gained 42% in the third fiscal quarter ended in December 2007. |
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Tata Motors Launches Nano
Jan 10, 10:46 AM EST |
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| Tata Motors lauched Nano and hoped that thin profit margin not hurt the company profitability. |
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| Tata Motors launched small car named Nano priced at 100,000 rupees ($2,500). India has seen a rapid growth in sales in small car segment in the last three years on the back of more than 7% economic growth. Tata Motors will compete with Suzuki, Bajaj, and Hyundai in a market for 300,000 small cars in India. Sensex closed lower 1.4% on the weakness in banking and financial services stocks. |
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Sensex Edged Lower, Maruti Releases Splash
Jan 09, 6:57 PM EST |
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| Maruti Suzuki released minicar to tap the rising middle class purchasing power and compete with Tata Motors entry in the market. |
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| Stocks in Mumbai edged lower after a rise in the last six days of trading. Sensex in Mumbai closed down 4 or 0.2% to 20,870. Of the stocks traded on BSE, 757 shares advanced, 2,137 declined, and 25 remained unchanged. Of the BSE shares, Reliance Industries declined 0.6% to 3,031.95 rupees. Bharat Heavy Electricals shed 2.02% to 2,443.80 rupees, Larsen & Toubro slid 0.07% to 4,329.8 rupees while Suzlon Energy 1.4% to 2,241.6 rupees. |
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Stocks India Rise, Bucking Global Trend
Jan 08, 10:03 AM EST |
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| Stocks in India rose for the sixth session this year, bucking the regional and global trend of weak stock markets. |
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| Stocks in Mumbai traded higher as energy, techology, and metals and mining companies rallied. Sensex Index closed up 61 to 20,873. This is the sixth day in a row that the Sensex index hs closd above 20,000. Of the stocks traded on BSE, 539 shares advanced, 2,404 fell, 23 remained unchanged while. Of the BSE shares Reliance Industries was up 1.05% to 3,047.25 rupees ICICI Bank fell 1.7% to 1,340.05 rupees and Reliance Natural Resources surged 7.2% to 244.15 rupees. Tata Steel shed 4.2% to 866. |
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