Indian Markets

Late surge lifts Sensex; Tata Steel, Larsen key gainers

Mumbai: Benchmark indices closed firm, riding a late surge, but finished roughly 3 per cent lower week-on-week. Brokers say the mood is cautious after the global sell-off on Thursday, and back home, a mixed bag of quarterly earnings. The Sensex closed at 19704, up 30 points over the previous close, after touching a low of 19568.49 earlier in the day. The Nifty ended 16.50 points higher at 5983.55.

Tata Power, Tata Steel, Larsen, Sterlite Industries and ICICI Bank were among the key gainers in the Sensex, rising 2-4 per cent. Healthcare and realty were among the worst performing sectors, while buyers queued up to buy shares of metal, banking and capital goods companies.

Wockhardt led losers in the pharma sector, finishing around 6.5 per cent down, after coming close to touching the lower end of the 20 per cent intra-day circuit filter. The stock has been under pressure since Thursrday after the US FDA red flagged its export-oriented unit at Aurangabad.

Sun Pharma shares fell around 4 per cent after operating margins of its Israeli subsidiary, Taro Pharma, fell below analyst estimates. Brokers said liquidity would be the deciding factor near term, in the absence of any supportive macroeconomic fundamentals. ...more    

RBI Governor overrules panel view on rate action in May

Mumbai: Reserve Bank of India (RBI) Governor Duvvuri Subbarao went against the suggestion of a majority of external members of the central bank's monetary policy committee that recommended no change in the policy repo rate at a May 3 policy meeting, according to minutes of the meeting seen by Reuters. The RBI cut the key policy repo rate for a third straight time in 2013 to 7.25 per cent, pulling...  

Rupee at a 6-month low on weaker shares, dollar demand

Mumbai: The rupee weakened to a near six-month low on Tuesday, largely driven by weakness in the euro and import-related dollar demand that traders attributed to a private refining company. At 04:45 pm IST, the rupee was at 55.37/38 versus its Monday close of 55.10/11. It fell to 55.41 during the session, a level last seen on November 29, 2012. ...  

Sensex sheds 112 points as share sales, Fed meet weigh

Mumbai: Benchmark indices fell for the second successive session on Tuesday, as the market is trying to digest the heady gains of the past few weeks. Brokers said share sales by promoters trying to meet the 25 per cent minimum public shareholding rule, and the US Federal Reserve meeting on Wednesday, made buyers cautious. The 30-share Sensex fell 112.37 points to close at 20111.61, and the 50-share Nifty ended at...  

BSE Sensex ends flat; midcap stocks outperform

Mumbai: Key equity benchmarks consolidated on Thursday and managed to end in green after touching fresh multi-year highs in trade. Shares of banks, realty, auto, pharma and capital goods continued to see buying in trade and closed with smart gains. The Sensex closed at 20247.33, up 34.37 points or 0.17 per cent and the Nifty ended at 6169.90 up 23.15 points or 0.38 per cent. About 1183 shares advanced, 1270...  

Sensex ends above 20,000, Nifty at 2013-high on FII buying

Mumbai: The Bombay Stock Exchange (BSE) benchmark Sensex on Friday closed above the much-awaited 20,000 mark after a gap of 100 days and the NSE Nifty closed at its highest level in 2013 on heavy buying in auto, consumer durables, FMCG and banking shares amid improvement in IIP suggesting pick-up in growth. After a better start, the 30-share Sensex ended higher by 143.58 points, or 0.73 per cent to 20,082.62,...  

Sensex touches 20,000 for the first time in over 3 months

Mumbai: The Bombay Stock Exchange BSE benchmark Sensex on Wednesday regained 20,000 level for the first time in over three months on sustained capital inflows and better earnings, but slipped to close a tad lower. After hitting 20,000 level, the Sensex closed 101.23 points, or 0.51 per cent, at 19,990.18, a level last seen on January 31. It had gained 313 points in last two sessions. The current upsurge was...  

FIIs infuse USD 11 billion in equity market in 2013 so far

New Delhi: Overseas investors pumped USD 823 million into the stock markets in the month of April, taking the total investment tally to over USD 11 billion in 2013 so far. Foreign institutional investors (FIIs) infused a net amount of USD 823 million (about Rs 4,450 crore) in Indian stock market in March taking the total inflows to USD 11.2 billion (Rs 60,072 crore) in less than four months of...  

Gold prices in India seen recovering after massive fall

Mumbai: Gold futures in India, which hit the lowest level in more than 18 months on Tuesday, may stage a recovery as key technical indicators point to the yellow metal entering oversold territory, according to analysts. Gold in India, the world's biggest buyer of the metal, has shed 21 per cent from the record high of Rs 32,464 for 10 grams struck in November, spreading panic among investors and importers....  

Sensex registers biggest gain in 7 months, surges 387 points

Mumbai: The BSE benchmark Sensex on Tuesday surged 387 points, its biggest gain in seven months, to end at 18,744.93 led by banking, auto, power and realty scrips on hopes of aggressive rate cut by RBI and likely relief on CAD front due to falling gold and oil prices. Rising for the second day, the 30-share Sensex rose to the day's high of 18,771.33. It finally ended the day at...  

India car sales to grow 3-5 pc in FY13-14

New Delhi: Car sales in India are forecast to grow between 3 per cent and 5 per cent in the current financial year, an industry body said on Wednesday, following the first drop in sales in a decade in 2012/13. Sales of trucks and buses are seen growing 7-9 per cent in 2013/14 which began on April 1, the Society of Indian Automobile Manufacturers said. Motorcycle sales are seen growing...  

Sensex plunges 211 points to 7-month low

Mumbai: After rising nearly 128 points in early trade on positive global cues, the BSE benchmark Sensex on Tuesday closed 211 points down to seven-month low of 18,226 on all-round selling led by IT and oil and gas sector stocks. Erasing initial gains, the 30-stock index fell for the 5th straight session by losing 211.30 points, or 1.15 per cent to 18,226.48, its lowest level since September 13, 2012. The...  

Telecom sector is undergoing transition: Sam Pitroda

New Delhi: Terming the present state of the Indian telecom sector as a transition phase, National Innovation Council Chairman Sam Pitroda on Monday said the next revolution is expected to be much bigger than the earlier one. "We are just going through a transition, everybody goes through a transition, sometimes you fall down, hurt your elbow, but its OK," Pitroda who is also advisor to the Prime Minister on public...  

Sensex ends 239 points down; Bharti, Tata, Reliance dip

Benchmark indices tumbled on Wednesday, as bears targeted large caps across the board. Renewed speculation about early general elections, a dismal services PMI (Purchasing Managers Index) reading for March, and absence of institutional buying support aggravated the fall in the last hour of trade. ...  

Sensex continues losing streak, hits fresh 4-month low

Falling for the sixth day in a row, the Bombay Stock Exchange (BSE) benchmark Sensex on Friday hit fresh four months low by losing over 57 points as cautious investors refrained from buying on current political worries amid weak global cues. ...  

Sensex up 208 pts as lower core inflation fuels rate cut hopes

The BSE benchmark Sensex on Thursday jumped by nearly 208 points to end at 19,570.44 on heavy buying in realty, banking and capital goods scrips as core inflation in February fell below 4 per cent mark for the first time in nearly 3 years fuelling hopes of rate cut by RBI on March 19. ...  

Sensex at two-week high, up 161 points

Wiping off initial losses, the BSE benchmark Sensex on Thursday surged by nearly 161 points to a two-week high of 19,413.54 as shares of Infosys and Tata Consultancy Services climbed to record high levels on optimism the US will soon be back on growth track. After a lower start, the Sensex spurted by 160.93 points, or 0.84 per cent to 19,413.54. ...  

Sensex falls to three-month low; blue chips hit

The Sensex fell more than 1 per cent to its lowest close in three months on Tuesday, as blue chips such as ICICI Bank were hit by growing caution ahead of the 2013/14 budget to be unveiled later this week. Falls also tracked a sell-off in global equities as investors feared a resurgence of the euro zone debt crisis after Italy's inconclusive election results. ...  

Sensex gains for third day, ends 7 points up

The Bombay Stock Exchange benchmark Sensex on Wednesday closed seven points up on the back of a strong rally in market heavy Reliance Industries amid a firming global trend. ...  

Sensex, Nifty end at 2013 lows

Key equity benchmarks ended trade in the red however off the day's low. The BSE Sensex closed down 61.97 points at 19435.21 after touching an intraday low of 19,381.82. ...