Stock Market

Pak stocks zoom to record high after Sharif's emphatic win

Karachi: Buoyed by an emphatic win by Nawaz Sharif, Pakistani stock market on Monday surged to a record high after crossing 20,000-level for the first time in history and added nearly Rs 10,000 crore to the investors' wealth.

The Karachi Stock Exchange's benchmark index KSE-100 rose to its all-time high of 20,309.36 points on Monday morning with a gain of 1.8 per cent of 359 points, as the General Elections held over the weekend delivered a clear mandate for the return of Sharif as the country's next Prime Minister.



Sharif, himself an industrialist and co-owner of diversified multi-million dollar conglomerate Ittefaq group, has said that revival of economy would be among his top priorities. He is seen by many in Pakistan as someone who can fix the country's bleeding economy. ...more    

Sensex ends flat on profit-booking ahead of RBI monetary policy

Mumbai: The BSE benchmark Sensex on Tuesday ended flat with a small rise of 10 points as cautious investors indulged in profit-booking ahead of the monthly settlement in derivatives segment and the RBI monetary policy meet on May 3. Trading sentiment further influenced on a weakening Asian trend but better opening in Europe supported the market to end in a positive zone for the third straight day. The Sensex rose...  

Sensex at one-week high; rises 128 points

Mumbai: The BSE benchmark Sensex on Thursday rose 128 points to close at nearly one-week high of 18,542 level led by buying in realty, IT and banking stocks ahead of the earning season beginning tomorrow with Infosys. Rising for the second day in row, the Sensex closed 127.75 points, or 0.69 per cent, up to 18,542.20, a level last seen on April 4. The index had gained 188 points in...  

Rupee down 14 paise against dollar in early trade

The rupee on Wednesday lost 14 paise to 54.40 against the dollar in early trade on the Interbank Foreign Exchange due to strengthening of the US currency overseas. ...  

Sensex snaps 7-day losing streak, closes 23 pts higher

Mumbai: The BSE benchmark Sensex on Tuesday snapped a seven-day losing streak by rising 23 points on buying by funds mainly in consumer durables and FMGC stocks ahead of monthly expiry in the derivatives segment amid a firming European trend. The Sensex closed 23.11 points up, or 0.12 per cent, to close at 18,704.53. The index moved between 18,758.88 and 18,612.37 points. The gauge had lost 890 points in last...  

Two Reliance groups lose Rs 20,000 cr market value

New Delhi: Amid an intense selling pressure in the stock market, the two Reliance groups headed by Mukesh and Anil Ambani have seen their respective market values skid by about Rs 10,000 crore each in a week's time. With two listed companies, the Mukesh Ambani-led Reliance Industries group saw its market capitalisation drop by about Rs 10,700 crore to Rs 2.63 lakh crore at the end of last week. RIL...  

Rupee up 10 paise against dollar in early trade

The rupee on Friday strengthened by 10 paise to Rs 54.46 against the US dollar, extending its rising streak for the third day, on the Interbank Foreign Exchange (Forex) market in the early trade on increased foreign fund flows amid firm local equities. ...  

US: Dow Jones soars to an all-time high

With US stock market indices more than doubling since the financial crisis and the American housing market recovering, there are increasing hopes on Wall Street that a wider "wealth effect" could set in. ...  

Budget looks to attract more investors to stock market

The government on Thursday unveiled a slew of measures to attract more investors to the stock market and making it easier for foreign entities to make investments. Presenting the Union Budget 2013-14, Finance Minister P Chidambaram proposed to strengthen capital market regulator SEBI and cut the securities transaction tax, which will bring down overall costs for investors. ...  

Global markets decline on deadlocked Italy election

Asian shares took their lead from overnight plunges in global equities to fall on Tuesday as an apparently inconclusive election outcome in Italy raised fears of a resurgent euro zone debt crisis. Italy's centre-left coalition will win a majority in the lower house of parliament but the upper house will be deadlocked, the Interior Ministry said on Tuesday after almost all votes were counted. No party or coalition won a...  

Wall Street trips and falls on cloudy Italian election

Stocks on Monday suffered their biggest drop since November after a strong showing in Italian elections by groups opposed to the country's economic reforms triggered worry that Europe's debt problems could once again destabilize the global economy. The decline marks the biggest percentage drop for the benchmark Standard & Poor's 500 Index since November 7, and drove the S&P down to its lowest close since January 18. The CBOE Volatility...  

Rajat Gupta may win his appeal but I think his reputation is tarnished forever: Sandipan Deb

A tragedy of Greek proportions, this is the story of an Indian icon at the centre of the biggest insider trading case in the history of the United States of America. On 24 October 2012, Rajat Gupta, former head of the worlds most respected management consultancy firm, McKinsey & Co., was sentenced to two years in prison by a New York court for securities fraud and insider trading. Why did...  

Mid-cap, small-cap stocks crash; regulators begin probe

Shares of a host of mid-cap and small-cap companies on Monday crashed in the stock market, plunging as much as 60 per cent in some cases, amid panic selling on speculations of sale of pledged shares. Stock exchanges and market regulator SEBI immediately began looking into the matter to probe any possible foul play after a huge sell-off was witnessed in shares of more than a dozen companies towards noon,...  

BSE Sensex up, tech stocks lead gains

The BSE Sensex is up 0.25 per cent and the Nifty gains 0.17 per cent higher, tracking steady Asian markets. Export-driven technology shares leading gains on the back of short covering as recent underperformance was seen overdone. ...  

Facebook shares jump to 4-month high to over 8 per cent

Houston: Shares of social networking giant Facebook jumped by more than 8 per cent to close at nearly $26 per share on Monday - the highest price the stock has seen since the summer - on news of multiple analyst upgrades. Facebook shares rose $1.94 to close at $25.94 per share. The movement marks the latest potential for Facebook to emerge as a steady-growing business in the wake of a...  

Terror groups investing in Indian stock markets: Shinde

Bangalore: Government has information that terror groups have been investing money in Indian stock markets, Home Minister Sushil Kumar Shinde said on Friday. Asked by reporters about "intelligence information" that Pakistan-based Jamaat-ud-Dawa is investing money in Indian stock exchanges, the minister said he had spoken at the Interpol meeting in Rome that the Government has "some information" that some terror groups were engaged in such activities. Shinde, however, said he...  

Terrorists investing in stock markets: Home Minister

Rome: Concerned over terror groups investing in stock markets through spurious companies, India on Tuesday sought international cooperation to deal with it. "It is a cliche to say that terror-funding is the lifeblood of terrorism. Credible intelligence suggests that terrorist outfits are investing in stock markets through spurious companies, setting up fictitious businesses and laundering money," Home Minister Sushil Kumar Shinde said, addressing the Interpol General Assembly in Rome. Shinde...  

Gold hits 11-month high, extends gains to fifth day

Singapore: Gold hit an 11-month high on Friday in its fifth day of gains as stimulus measures from major central banks continued to increase its appeal as an inflation hedge, while investors awaited more trading direction from key US jobs data due later in the day. The European Central Bank kept interest rates unchanged on Thursday and said it was ready to buy government bonds of debt-laden nations, triggering a...  

Facebook envisions swanky new digs as shares sink

San Francisco: Facebook Inc on Friday unveiled plans for a massive new campus annex in Menlo Park to be designed by Frank Gehry, the renowned architect who has won plaudits for metal-sheathed works like the Guggenheim Museum in Bilbao, Spain, and the Walt Disney Concert Hall in Los Angeles. Plans for the site, which Facebook will submit to local city officials for approval on Monday, depict Gehry's vision of a...  

JP Morgan 'positive' on Indian markets in H2

Mumbai: American brokerage firm JP Morgan on Friday said it remains "positive" on the Indian stock markets going into the second half of the year even as it stated that the government is yet to delivery on key reforms. Saying that the economic fundamentals have deteriorated in the recent past as the government has not been able to move ahead with reforms, JP Morgan in a report said, "The government...