Opening Bell: Nifty (Spot) support for the day exists at 4720 & 4670 and Resistance to the up-move is at around 4810-4870. Stay cautious and Book profit at regular interval. Safe traders extremely cautious.
We would still go with that the intermediate trend is down continues to be down, the long term trend is possibly down and this rally will possibly top out now fairly soon but it has got some strength in it we have had quite a bit of a sell off last week not in year but globally and we think we are seeing a general universal bounce back once that terminates again the market could be tested.
PTC Financial Services raises Rs 100 cr via debentures
8 Feb 2010, 1502 hrs IST
PTC India Financial Services Ltd, promoted by PTC India Ltd, said it has raised Rs 100 crore by issuance of non-convertible debentures.
L&T unit to open retail bond sale on Tuesday 8 Feb 2010, 1253 hrs IST
A fully-owned unit of engineering conglomerate Larsen & Toubro will open a retail bond sale on Tuesday, the company said on Monday.
'Opt for PSU shares with long-term view' 8 Feb 2010, 0844 hrs IST, Madhu T
The enquiries have increased after some PSU stocks posted handsome gains in the last few months. However, experts are cautioning investors against getting carried away by short-term trends in the market.
McNally set for better days in a benign growth climate 8 Feb 2010, 0234 hrs IST, Ashish Agrawal
Shares of McNally Bharat Engineering have surged by over 600% in the past 12 months, way ahead of the appreciation of 80% for the Sensex and 115% for the capital goods index.
Heard on the Street
5 Feb 2010, 0100 hrs IST, Santosh Nair & Deeptha Rajkumar
What explains the less-than-enthusiastic response to the NTPC issue? If some fund managers are to be believed, the paltry fee paid to lead managers is not quite pushing them to go the extra mile.
Kiri’s market pie gets bigger, but debt weighs 5 Feb 2010, 0027 hrs IST, Ramkrishna Kashelkar
Ahmedabad-based Kiri Dyes Chemicals’s (KDCL) successful acquisition of Dystar for an enterprise value of Rs 1,350 crore has catapulted the company in the global league.
ACC & Ambuja: Boom in infra, housing to drive growth 5 Feb 2010, 0023 hrs IST, Amriteshwar Mathur
The two Holcim-controlled cement companies ACC and Ambuja Cements, reported December 2009 quarterly results broadly in line with analyst expectations, thanks to their presence in the northern and eastern markets.
Rajesh Exports a tad too pricey 5 Feb 2010, 0011 hrs IST, Devangi Joshi
Third quarter results of Rajesh Exports, one of the leading jewellery manufacturers and distributors, seems to have caught the market attention of investors given a over 8% rise in the stock price in past three trading sessions.
Wall Street lower in hesitant trade 8 Feb 2010, 2030 hrs IST
US share prices swung lower in opening trade Monday as markets reopened after a rocky week for global bourses amid fears of debt problems in the eurozone that could affect the overall world economy.
US problems may hurt dollar once euro pain fades 8 Feb 2010, 2025 hrs IST
US economic problems are too big to ignore and may undermine the greenback in the medium term.
Greece
haunts, but European shares, euro recover 8 Feb 2010, 1502 hrs IST
European stocks bucked a three-day losing run, helping stabilise global shares although euro zone sovereign debt worries remained close to the surface.
Asia shares at 5-mth low on Europe woes 8 Feb 2010, 1351 hrs IST
Asian shares fell and euro dipped as festering debt problems in the euro zone prompted investors to shift out of riskier assets.
Nikkei drifts after hitting 2-mth low, Kirin down 8 Feb 2010, 1031 hrs IST
The Nikkei average hit its lowest in two months below 10,000 on Monday, with exporters such as Sony Corp hurt by a stronger yen, while anxiety over fiscal problems in Europe continued to dent investor confidence.
Wall Street cuts losses, ends up with techs, materials 6 Feb 2010
, 0325 hrs IST
Stocks erased a midday drop to end slightly higher on Friday, closing out a volatile week punctuated by mixed signals from the labor market data and growing anxiety over fiscal problems in Europe.
Dow and S&P fall 1 per cent 6 Feb 2010
, 0012 hrs IST
The Dow industrials and S&P 500 index fell more than 1 percent in early afternoon trading on Friday, with the energy and industrials sectors weighing on the market.
Wall Street edges up after mixed jobs data 5 Feb 2010, 2159 hrs IST
US stocks edged higher on Friday after a mixed jobs report and despite lingering worries over the fiscal health of some European countries.
Global shares, euro fall on debt fears 5 Feb 2010, 1614 hrs IST
Global shares hit 3-mth lows and euro fell to an eight-month low against dollar as euro zone sovereign debt problems and nerves ahead of US jobs data led investors to dump riskier assets.
Nikkei falls to two-mth closing low; Toyota up 5 Feb 2010, 1253 hrs IST
Nikkei average fell 3% to a two-month closing low as risk aversion rose on growing sovereign debt problems in Europe.
Wall St pay clawbacks won't ease risk thirst 5 Feb 2010, 1219 hrs IST
Banks and regulators hope threats to "claw back" pay if trades later blow up will rein in risk taking on Wall Street.
Global markets rout hits Asia
5 Feb 2010, 0938 hrs IST
Mounting fears about parlous government finances in Europe hammered stock markets across Asia on Friday following New York's worst finish since November.
US investors should be more worldly, says Goldman 5 Feb 2010, 0846 hrs IST
The most promising investment opportunities are increasingly found outside the United States, yet the vast majority of Americans place little stock in overseas markets.
Flight from risk pushes Nikkei to 7-week low; Toyota up 5 Feb 2010, 0655 hrs IST
The Nikkei average fell about 3 percent to hit its lowest in seven weeks on Friday, with exporters hurt by a stronger yen, while escalating sovereign debt problems in Europe dented investor confidence in riskier assets including equities.
Nikkei hits 7-week low as exporters fall on yen 5 Feb 2010, 0636 hrs IST
Japan's Nikkei average fell more than 2 percent to hit its lowest in seven weeks on Friday, with exporters hurt by a stronger yen and after escalating sovereign debt problems in Europe and an unexpected rise in jobless claims sent Wall Street sharply lower.
Dow dips below 10,000 mark on eurozone debt, jobs data 5 Feb 2010, 0334 hrs IST
The Dow briefly fell below the crucial 10,000 mark on Thursday as stocks suffered their worst losses in more than nine months.
COMMODITIES
BULLION
Govt formally extends tax-free white sugar imports 8 Feb 2010, 1947 hrs IST
The government has formally extended duty-free white sugar imports by nine months, a statement posted on its website showed on Monday, as the country looks to cover a supply shortfall.
Sugar output in key state to rise 8 Feb 2010
, 1026 hrs IST
Production in UP in 2009/10 is expected to be around the previous year's level of 4.6 MT, up from earlier forecast of 3.0-3.5MT.
Bt brinjal's acceptance hinges on price 8 Feb 2010, 0317 hrs IST
High price and not bio-safety concerns is likely to be the key deterrent to the commercial acceptance of Bt brinjal, a January 2010 IFPRI (International Food Policy Research Institute) study has suggested.
Volume growth to check rising costs 8 Feb 2010, 0251 hrs IST, Shikha Sharma
Sugar industry has kicked off the new season by reporting healthy performance in Q1.
NSEL to allow retail participation in spot commodity market 6 Feb 2010
, 0017 hrs IST, Nidhi Sharma
National Spot Exchange (NSEL), an electronic spot market promoted by Financial Technologies, is all set to launch investment products in commodities for retail investors.
Queues back at ration shops as prices pinch
5 Feb 2010, 0555 hrs IST, Nidhi Nath Srinivas
Ration shops have become India’s lifeline as prices in private shops are beyond most consumer budgets. Consumers are now buying 64 per cent more wheat and 40 per cent more sugar from PDS compared to last year.
Sugar prices drop further on tough govt measures 4 Feb 2010
, 1628 hrs IST
Sugar prices dropped further for the second day in a row on tough govt measures.
Cooking oil prices drop Rs 5/kg on weak demand 4 Feb 2010
, 0025 hrs IST, Nidhi Nath Srinivas
Cooking oil has crashed by Rs 5 per kilo.
Commodities: Milk price war 3 Feb 2010
, 1648 hrs IST, Jayashree Bhosale
Price wars over agricultural commodities are not new to Maharashtra, witness the efforts by sugar mills to get more cane by paying ever higher sugarcane prices.
Sugar prices may ease on bumper Brazilian output 3 Feb 2010
, 0133 hrs IST
Raw sugar prices probably will decline from a 29-year high this year, as a “huge increase” in production driven mainly by Brazil may balance the market, according to German research company FO Licht.
Govt announces more steps to bring sugar prices down 2 Feb 2010, 2056 hrs IST
Amid spiralling sugar prices which rose by Rs 200 a quintal here today, the Government announced more measures to clamp down on hoarders.
MMTC invites bids for import of 15,000 tonnes of pulses 2 Feb 2010, 1235 hrs IST
To augment domestic supplies state-run MMTC has invited bids for import of 15,000 tonnes of pulses to be delivered by April.
Rajasthan exempts VAT on sugar 29 Jan 2010, 1909 hrs IST
Now sugar would be cheaper by Rs 2 in Rajasthan. Rajasthan government has decided to exempt VAT on imported sugar in the state till June 30. This will help in reining the spiralling sugar prices.
UP sugar output drop by 10% sends ominous signals 29 Jan 2010, 0716 hrs IST, Prabha Jagannathan
There is concern that sugar prices will continue to remain high.
Gold improves on higher global cues, silver declines 8 Feb 2010, 1837 hrs IST
Gold prices improved further at the bullion market due to persistent local buying interest supported by higher European advices.
Gold futures seen extending losses on firm dollar 8 Feb 2010, 1803 hrs IST
India gold futures are seen extending losses for a fifth week in a row on expectations of a stronger dollar overseas, which dims the yellow metal's appeal as an alternative investment, analysts said.
Gold climbs back above $1,070/oz as dollar slips 8 Feb 2010, 1610 hrs IST
Gold rose in Europe rebounding from Friday's three-month low, as the dollar weakened against the euro, encouraging investors to buy into the metal at lower prices.
Gold futures edge lower on dollar
8 Feb 2010, 1149 hrs IST
Gold futures edged lower due to a firm dollar overseas earlier, but bargain-buying kept the downside limited.
Traders face margin calls as commodities tank 6 Feb 2010
, 0009 hrs IST, Ram Narsinghdev Sahgal
Punters, who were long on gold, silver, crude and copper futures on local commodity bourses, faced a spate of margin calls on Friday morning after markets across the world tanked on Thursday.
Gold closes at Rs 16,053 5 Feb 2010, 2001 hrs IST
The April contract on the Multi Commodity Exchange of India closed at 16,053 rupees, down 99 rupees from the previous close.
Gold buying continues as prices hit 3-month low 5 Feb 2010, 1507 hrs IST
Gold buying continued on Friday afternoon, with limited quantities changing hands as prices hit a fresh three-month low.
Gold closes at 16,577 rupees 4 Feb 2010, 1721 hrs IST
Gold closed at closed at 16,577 rupees, down 70 rupees.
Gold almost flat; US data eyed
4 Feb 2010, 1123 hrs IST
India gold futures were almost flat with a negative bais on Thursday, weighed by a stronger dollar overseas, and investors awaited the release of US jobs data for direction, analysts said.
Gold continues uptrend on buying, firm global cues 3 Feb 2010
, 1703 hrs IST
Gold maintained upward march for the third straight day by adding Rs 155 to reach Rs 16,955 per ten grams in the bullion market here today on increased buying driven by a firming global trend.
Gold futures edge lower on rising rupee 3 Feb 2010, 1057 hrs IST
Gold futures edged lower on Wednesday morning weighed by a stronger rupee, which makes the dollar-quoted asset cheaper, as investors waited U.S. jobs data on Friday for direction, analysts said.
Gold steady above $1,110/ounce, eyes on US data
3 Feb 2010, 0941 hrs IST
Gold prices steadied on Wednesday after hitting their highest level in almost two weeks the previous day, when investors partly factored in expectations of strong US jobs data later this week.
Gold surges on strong global cues 2 Feb 2010, 1737 hrs IST
Gold prices surged by Rs 240 to 16,800 per ten gram in the national capital today on brisk buying by retail customers and jewllers for the upcoming marriage season amid a strong rally in overseas markets.
Gold futures edge lower; US jobs data eyed 2 Feb 2010, 1130 hrs IST
India's gold futures inched lower on Tuesday morning weighed down by a stronger rupee, with investors awaiting the US jobs report later in the week for direction, analysts said
Gold rises on fresh buying, global cues 1 Feb 2010, 2003 hrs IST
Snapping a four-day losing streak, gold prices gained Rs 20 to Rs 16,560 per ten grams at the bullion market here today on fresh buying amid firming global trend.
Gold futures seen lower on dollar's gains 1 Feb 2010, 1747 hrs IST
Gold futures may edge lower this week on the back of the persisting strength in the dollar index, dimming the yellow metal's appeal as an alternative investment, analysts said.
Gold demand abates as rupee weakens 1 Feb 2010, 1522 hrs IST
India gold demand abated on Monday afternoon as rupee weakened against the dollar, after buying picked up in January, when traders stocked in anticipation of wedding demand, dealers said.
