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Sensex finishes 252pts up after a weak start - 2/Nov/07
2007-11-02 13:15:00
The Indian stock markets started off in the red like other global markets but a late rally saw the... Read the full story here
More About: Start , Sensex , Finish , Nish

Markets end in the red - 1/Nov/07
2007-11-01 13:57:00
The Indian stock markets had a volatile session - the markets went up early and Nifty broke the... Read the full story here
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Nifty Crosses 6,000, Fed Cuts rates by 25bps - 1/Nov/07
2007-11-01 06:22:00
The Nifty crossed the 6,000 milestone in early trade. It went up by 111.30 points to an all time... Read the full story here
More About: Rates , Cuts , Crosses

Modest Gains, All eyes on Fed (31/Oct)
2007-10-31 14:31:00
The Indian stock markets saw a volatile session but ended with modest gains - the Sensex closed 54... Read the full story here
More About: Eyes , Modest , Odes

Sensex down 194 points - 30/Oct
2007-10-30 13:26:00
The Indian stock markets had a volatile session today - the Sensex oscillated 543 points between an... Read the full story here
More About: Points

RBI Hikes CRR by 50bps - 30/Oct/07
2007-10-30 07:45:00
In contrary to what I had predicted, RBI has increased CRR by 50bps. Highlights of the... Read the full story here

Sensex crosses 20,000 (29/Oct), Detailed Weekly Roundup(22 to 27 Oct)
2007-10-29 12:43:00
Sensex crosses 20,000! The Indian stock markets scaled new heights today - the Sensex hit the... Read the full story here
More About: Roundup , Weekly , Sensex , Crosses

Markets on a Roll, Sensex close to 20,000 - 29/Oct
2007-10-29 06:32:00
The Indian stock markets are on a roll now - the Sensex is up 549 points at 19,792.51 and Nifty is... Read the full story here
More About: Markets , Roll , Close

Markets have a field day, record closing - 26/Oct/07
2007-10-26 14:20:00
The Indian stock markets had a field day today - the Sensex closed at 19,243, up 472 points and... Read the full story here
More About: Markets , Record , Field , Cord

Final outcome from SEBI's board meeting on P-Notes
2007-10-26 10:21:00
The SEBI board met on Oct 25 to decide on various issues, amongst them was the new policy on... Read the full story here
More About: Board , Notes , Final , Meeting

Update on SEBI P-Note Policy
2007-10-25 15:02:00
SEBI has announced the P-Note policy on expected lines. They have said that FIIs and sub accounts... Read the full story here
More About: Policy , Update

Markets Up...but primarily due to derivative contracts expiry
2007-10-25 10:19:00
The Indian stock markets are currently trading higher - the Sensex is at 18,733, up 220 points and... Read the full story here
More About: Markets , Contracts , Prim

Volatile Trade, Markets register small gain - Oct 24
2007-10-24 15:11:00
The Indian stock markets ended with small gains but had a very choppy session through the day. The... Read the full story here
More About: Markets , Trade , Small , Register , Regis

Volatile Trade, SEBI update on FII registration, RBI comment on FDI in real
2007-10-24 10:31:00
The Indian stock markets opened on a strong note but soon lost all the gains and are trading in a... Read the full story here
More About: Trade , Update , Real , Comment , Registration

Markets Up Again - 23/Oct
2007-10-23 15:07:00
The Indian stock markets closed higher today - the Sensex clost at 18,492, up 879 points (5%) and Nifty closed at 5,474, up 290 points (5.5%). The biggest gainers in BSE were Reliance Energy (12.3%), BHEL (11.8%) and NTPC (9.3%) and biggest gainers in NSE were Reliance Energy (12.4%), BHEL (11.8%) and SAIL (11.1%).The markets would stay volatile for the next few days and the significant events that are coming up are the policy announcement by SEBI on Oct 25 (see my earlier post on what SEBI had to say in the investor conference call regarding clarifications on P-Notes), expiry of derivative contracts again on Oct 25 and monetary policy announcement on Oct 30.I have mentioned earlier that the rise and fall is too steep and that there is something unusual in this - this also is shown up in the data of net FII purchases and also in the statement made by SEBI chairman. Lets see what happens next.http://feeds.feedburner.com/indiafin ancialmarkets
More About: Markets

Markets Up after SEBI clarifications, update on SEBI investor conference ca
2007-10-23 10:25:00
The Indian stock markets have registered a big gain today - the Sensex is currently at 18,257, up 643 points and Nifty is currently at 5,406, up 223 points.SEBI held a conference call with investors yesterday wherein they gave clarification on P-Notes. The chairman of SEBI, Mr. Damodaran, essentially said that FIIs would be allowed to apply for license for accounts based outside India. Sub accounts of brokers registered in India would be allowed to apply for a license as long as they are used for their own trading. Other sub accounts who do not apply for a license would be barred from issuing derivatives. FIIs should apply to register their sub accounts within a week and they could issue P-Notes when their application is pending. But there is no proposal to extend the 18 month time period given to FIIs for liquidating their P-Note holdings beyond 40% of the asset portfolio.SEBI also would be undertaking a comprehensive review of regulations relating to FII registration. Current norm...
More About: Markets , Investor , Update , Conference , Clar

Detailed Weekly Roundup - Oct 15 to Oct 19
2007-10-22 10:52:00
I have already written about the rise and fall of markets last week due to the P-Note issue (see my earlier post). The table below gives data on returns across various global markets in the last week:As it can be seen, Sensex posted the biggest weekly loss across all markets. Also, all the markets (except Taiwan) posted negative returns.The Indian markets have cooled down last week and are trading marginally lower as of now. The Sensex is at 17,526, down 33 points and Nifty is at 5,193, down 22 points. The market breadth is currently 1:1 - evenly poised. But the current status is not an indication of the swings that we have seen in trading till now - there have been wild swings in the market so far in this trading session.As mentioned earlier, SEBI chief M Damodaran is scheduled to have a conference call with overseas investors to clarify the restrictions posed on P-Notes at 4:30pm IST. Lets see what effect that has on the markets tomorrow.RBI must also be watching the movements in ...
More About: Roundup , Weekly

Quick Review of the week gone by (Oct 15 - 19)
2007-10-20 09:11:00
The week began well for the markets with Sensex crossing 19,000 for the first time ever on Monday. It ended flat on Tuesday and the panic started on Wednesday with SEBI's announcement on restrictions related to investing in India through participatory notes. The markets went downhill from Wednesday and ended the week with an 859 point loss to close at 17,560. The Nifty lost 213 points to close at 5,215.The rupee gained 42p this week and closed at 39.74.The following table gives the trend of FIIs and MFs net investments on a daily basis in October:It can be seen that FIIs were on a buying spree till 17/Oct and then the big selldown took place but on 19/Oct (yesterday), they were net buyers to the tune of $31.20 million, which is a bit surprising to say the least.On the other hand, MFs have been consistent sellers in the month of October as can be seen from the table. So, the MFs made their money during the rally at the beginning of the month while the FIIs were the ones who were pur...
More About: Review , Quick , Week

The P(ai)N continues...
2007-10-19 15:16:00
The Indian markets posted their first weekly drop in 9 weeks. The Sensex closed at 17,560, down 438 points and the Nifty closed at 5,215, down 136 points. The market breadth was 3.2:1 in favour of losers. The top losers were Reliance Energy (down 16.2%) and Hindalco (down 6.6%) in Sensex and Reliance Energy (down 16.2%) and Tata Power (down 9.7%) in Nifty.The markets would definitely be volatile till such time the announcement by SEBI takes place on October 25. From the time the announcement on P-Notes were made, the Sensex has lost 9%. FIIs sold net $440 million on Oct 17 alone as per data available from SEBI's website.Reliance Industries bosted better than expected results (28% increase in 2Q profits) but the shares fell 4.1% to Rs. 2,469.20. Mukesh Ambani had said in a statement on Oct 12 that he would offer shareholders unprecedented value and the speculation was that they would offer additional stock. But the market was disappointed that nothing was announced as payout to shar...
More About: Conti

Markets Open Lower, Rupee marginally up against USD
2007-10-19 08:34:00
The Indian Stock Markets opened lower today - the Sensex is currently 284 points down at 17,713 and Nifty is 104 points down at 5,247. Market breadth is 4.6:1 in favour of declines as of now.The finance minister P Chidambaram is currently in the US and he has said that India has no intentions of posing controls on capital flows but these measures are being taken to ward off a bubble in the stock market. He also mentioned that India wants to maintain an exchange rate that is competitive without hurting investments. He had mentioned a week back that the rupee is outside the comfort zone.The rupee is marginally up against the dollar - it is currently at 39.76 as opposed to yesterday's 39.77. It was 39.27 one week back.http://feeds.feedburner.com/indiafin ancialmarkets
More About: Open , Lower , Rupee , Ally

Markets end down after intense volatility
2007-10-18 14:20:00
It was a crazy day for the markets today. The Sensex opened 111 points up, crossed the 19,000 mark to touch an all time intra day high of 19,199 but started sliding after noon and closed 717 points down at 17,998. The Nifty rose to a record high of 5,737 intraday before closing 208 points down at 5,351. The overall market breadth was 4:1 in favour of losers.The biggest losers in Sensex were ACC (12.5%), Reliance Energy (12.1%), SBI (10.0%), Bharti Airtel (9.2%) and biggest losers in Nifty were Tata Power (14.2%), Reliance Energy (12.3%), ACC (12.2%) and Zee Entertainment (10.4%). BSE Bankex was one of the worst hit and closed 6% lower (led by ICICI, which lost 7%) and BSE Metal Index closed 4.4% lower.http://feeds.feedburner.com/indiafi nancialmarkets
More About: Markets

P(anic) Note!
2007-10-17 14:27:00
The Indian stock markets made a remarkable comeback after a 10% drop at the time of market opening that had caused the markets to close for 1 hr. The Sensex closed at 18,716 down 336 points and Nifty closed at 5,559 down 109 points.The clampdown on investments through participatory notes (P-Note s) by SEBI was the biggest factor in pulling the markets down during opening (refer my earlier post for details). The Sensex actually fell to a low of 17,308 (down 1,744 points) before recovering to end at above mentioned levels.The clampdown was necessary - more than half the foreign fund inflows have come in through the P-Note route and they provide anonymity to the funds who invest in the market. The finance minister has said that the regulations relating to P-Notes would be introduced on October 25 with or without some modifications. Lets see how the markets react in the coming days. I am sure Dr. Reddy would also see the market behaviour in the coming days and finetune his monetary polic...

Markets fall initially, Recoup losses
2007-10-17 11:27:00
The Indian stock markets fell drastically on opening - the Sensex fell 1,744 points and the Nifty fell 524 points and this triggered off circuit breakers and the markets were shut for 1 hour. The rupee fell to 39.98 against dollar, its weakest since mid September.This was the reaction after the finance minister approved SEBI's proposal on limiting investment via participatory notes which are issued by registered foreign institutional investors (FIIs) to those who want to buy stocks in India but who are not registered. SEBI has also proposed the that FIIs and their sub-accounts cannot issue or renew P-Notes with underlying as derivatives with immediate effect. They are required to wind up the current position over 18 months. FIIs can issue other P-Notes but this would be limited to 40% of assets under custody in India. These changes would take effect from Oct 25."Investors through participatory notes are certainly welcome to invest in India, but for the present it is important to mo...
More About: Markets , Losses , Fall , Ally

Sensex hits 19,000, Weekly Roundup 8-13 Oct
2007-10-15 12:58:00
The Sensex is on cloud nine - the index crossed 19,000 for the first time today. The Sensex closed at 19,086.75 (up 667.71 points) and Nifty closed at 5,679.25 (up 251 points). The Sensex touched an all time intraday high of 19,096.The top gainers in BSE were Reliance Energy(14.65%), ONGC(9.58%), Tata Steel(7.99%) and Bharti Airtel(6.51%). The top gainers in NSE were SAIL(16.20%), Sterlite(15.42%), Reliance Energy(14.19%) and ONGC(9.39%).The table below gives a comparison of returns across various markets in the week gone by:Indian equities have posted higher returns in the last week than any other index. And the trend seems to be continuing with record increase today as well.Analysis of market data shows that mutual funds have been net sellers in equities in the month of October, suggesting that they have used this rally to book profits. MFs sold Rs. 764 crores worth of stocks in September.India's wholesale price index rose 3.26% in 12 months to Sep 29, lower than the previous wee...
More About: Roundup , Weekly , Hits

Markets Up Again - What will Fed/RBI do?
2007-10-10 11:13:00
The Indian stock markets are up again - the Sensex closed at 18,658, up 377 points and Nifty closed at 5,441, up 114 points. The US markets went up yesterday after release of minutes of last Fed meeting that cut rates by 50bps. Investors are essentially hoping for another rate cut. But what will Fed do and what will RBI in India do?What will Fed do?The minutes from the last Fed meeting do suggest that there are chances of more rate cuts by the Fed. The minutes suggest that the policymakers were worried about a spillover from the housing and credit woes to the broader economy. The minutes reveal that the members feared tightening credit conditions and an intensifying housing correction in the absence of a rate cut and in order to forestall these adverse effects, it was decided to cut the rate by 50bps.There is no significant mention of inflation in the minutes, suggesting that inflationary pressures have subsided. Infact, the minutes say that data on core inflation continues to be fa...
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Sensex and Nifty hit lifetime high - 9/Oct/2007
2007-10-09 13:50:00
The Sensex and Nifty hit lifetime highs today. The Sensex closed at 18,310.24, a rise of 818.85 points (biggest ever single day gain in absolute terms). The Nifty closed at 5,330.60, a rise of 4.83%.The Sensex hit a lifetime high of 18,327.42 and Nifty hit a lifetime high of 5,348.70 during trade.Biggest gainers in Sensex were Reliance Energy (11.48%), Reliance Communications (11.09%) and Reliance Industries (7.99%). Biggest gainers in Nifty were Reliance Energy (11.03%), Reliance Communications (10.36%) and Tata Power (8.81%).http://feeds.feedburner.com/india financialmarkets
More About: Lifetime , High

Sensex crosses 18,000
2007-10-09 12:29:00
Sensex crossed 18,000 for the first time today. Rally led by Reliance Industries which is up about 6.42% now. Sensex is currently at 18,166, up 674 points.Nifty is at 5,311, up 225 points.Would put up a post end of day.http://feeds.feedburner.com/indiafina ncialmarkets
More About: Sensex , Crosses

Weekly Roundup - 1 to 6 October
2007-10-08 10:47:00
The markets managed to notch up gains during this period as well. The Sensex ended at 17,773.36 for the week ended Oct 05, 2007 gaining 2.79% while the Nifty ended at 5186 for the same period gaining 3.28%. The table below gives returns of some of the global indices in the last week:Indian stock markets have given much higher returns than other markets round the world. And as far as FII inflows are concerned, Indian markets received net inflows of about US$14.3 billion, which is almost double of what we had received in the same period last year.According to many analysts, Indian software majors will not have a great quarter this time, partly due to the exchange rate scenario (rupee is very strong against the USD) but primarily due to high wage bills and lower employee utilisation rate. The rupee has appreciated by as much as 7.5% in the Apr to Jun quarter and 1.9% in the Jun to Sep quarter.On the inflation front, there was a rise in WPI measured inflation - it stood at 3.42% in the ...
More About: Roundup , Weekly , October

Weekly Roundup 24-29Sep - Great Week for Markets!
2007-09-29 09:56:00
The market rallied further last week with the barometer index BSE crossing 17,000 mark and Nifty the 5,000 level as investors bet on another cut in interest rate by the US Federal Reserve next month after data showed sluggish housing sales and consumer confidence in the US. Strong foreign institutional investor (FII) buying boosted bourses.BSE Sensex rose 726.87 points or 4.39% to 17,291.10 in the week ended Friday, 28 September 2007. Sensex hit an all time high of 17,361.47 on Friday. The S&P CNX Nifty rose 183.8 points or 3.79% at 5,021.35 in the week. It hit an all time high of 5,055.80 on Friday.The table below gives the returns given by markets in the last week:All of the Asian markets have given good returns in the last week.The rupee closed at Rs. 39.84/85 against USD. RBI has been intervening in the forex markets during the entire week and has announced auctions of bonds under the market stabilisation scheme for Rs. 7000 crores next week. It has also announced sales of R...
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Weekly Roundup - 17/Sep/07 to 22/Sep/07
2007-09-22 09:28:00
The market started the week on negative note but surged later amid a global rally triggered by the US Federal Reserve announcing a larger than expected 50 basis points cut in fed funds rate to 4.75% from 5.25% on Tuesday, September 18, 2007. There is a great article in the Economist on whether the Fed did the right thing by cutting 50bps - did they do it because they really saw a gloomy outlook or did they do it because the markets were whining. But this obviously helped the markets tremendously and the Sensex advanced in 4 out of 5 trading sessions in the week.The Sensex rose 960.43 points or 6.16% to 16,564.23 in the week ended Friday, 21 September 2007. Sensex hit an all time high of 16,616.84 on Friday. Nifty rose 319.55 points or 7% at 4,837.55 in the week. It hit an all time high of 4855.70 on Friday.The table below gives the returns in the last one week and last one year in different markets:As it can be seen, Sensex and Nifty have registered the highest gains in the past wee...
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