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Sensex ends below 13K

P@$$iØÑ\/@i(3H@\/ — Tue, 01 Jul 2008 11:35:20 +0000

The markets closed in the red yet again on Tuesday with both the Sensex and the Nifty closing below the psychological 13,000 and 3900 marks respectively. The Sensex closed at 12,961, shedding 500 points or 3.7 per cent. The Sensex closed below 13,000 levels for the first time since 5 April’07.
The Nifty also breached the 3900 mark to close at 3896 levels, 3.6 per cent down. The Nifty closed below 3900 for the first time since 12 April’07.
Heavy selling was witnessed across the board with all sectors closing in the red. Realty, banking and metal counters were the major losers of the day.

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BSE launches Sensex Futures in the US

P@$$iØÑ\/@i(3H@\/ — Sat, 05 Apr 2008 10:25:27 +0000

The Bombay Stock Exchange (BSE) on Friday launched trading of Sensitive Index-based Futures on the US Futures Exchange (USFE) in Chicago amid what was described as a “lot of excitement” among emerging market hedge fund managers and other US investors.

The electronic trading began without any formal ceremony signalling the beginning of an era of global integration for the BSE.

A USFE spokesperson said that they had been receiving a “lot of feedback” from emerging market hedge funds and other investors about the Futures. The official also said that there was a lot of interest among investors in Hong Kong, Singapore and elsewhere.

The trading, for the first time, allows US investors to directly participate in India’s equity markets without requiring American Depository Receipt (ADR) authorization.

The USFE said among the benefits of the trading will be that “overseas investors are now able to establish US regulated/non-American Depository Receipt (ADR) exposure in the Indian equity market”.

It said the BSE’s SENSEX future has “global appeal with widespread opportunities institutions, international mutual funds and individual investors”.

The trading will allow “immediate access to pure Indian equities exposure through existing futures accounts”. It will provide “trade with all the safety, security, and protections that a fully US regulated and cleared futures exchange provides”.

Said BSE managing director and CEO Rajnikant Patel: “The launch of a futures contract based on the Sensex will facilitate overseas investors in taking exposure to the Indian equities.”

He added: “I am confident the listing of the dollar denominated Sensex contract on USFE will elicit a very positive response from the international investing community.”

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Sensex tanks 769 points (0)
Sensex hits 15k, ends lower (0)

Sensex tanks 769 points

P@$$iØÑ\/@i(3H@\/ — Mon, 17 Dec 2007 18:42:00 +0000

The Bombay Stock Exchange benchmark index Sensex plunged 769 points or 3.84 per cent on renewed concerns of rising inflation in the US might make it difficult for the Federal Reserve to make another rate cut.

The 30-share index moved in a range of 19,177 to 20,032 levels before ending the trading day at 19,261. Selling was visible in metals, real estate and oil & gas counters.

In the broader markets Nifty registered its biggest one-day absolute loss of 270 points or 4.48 per cent. The 50-share index touched a low of 5,740 levels before closing at 5,777.

Asian markets are subdued on Monday with most of the indices losing over 1.4 per cent. Hong Kong’s Hang Seng and Tokyo’s Nikkei lost 3.5 per cent, 1.7 per cent respectively.

“You can see a significant short-term correction in overseas market as a result of what happens in the US, but this does not change the secular growth story that you have in China, India and Asia, I think any correction there would be a buying opportunity,” Jim Awad, Chairman of WP Stewart Asset Management said on emerging markets.

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All time closing high for Sensex

P@$$iØÑ\/@i(3H@\/ — Tue, 11 Dec 2007 10:18:00 +0000

Bombay Stock benchmark index Sensex surged 1.81 per cent or 360 points to register a new closing high of 20,290 levels on Tuesday. The sensitive index touched an all time high of 20,333 in the intra-day deals.

In the broader markets Nifty also closed above 6,000 levels for the first time in the history. The 50-share index touched a new high of 6,111 before ending the trading day at 6,097.

Nifty made a substantial gain of 2.29 per cent or 136 points on Tuesday. BSE Small Cap index also surged 1.19 per cent to 11,667 levels. Buying was visible in real estate and banking counters.

“After seeing the way midcap and index heavyweights counters has rallied, indices are headed for a breakout, going forward I am looking at 21,300 on the Sensex and 6,350 levels for the Nifty,” Shruti Meghani, Technical Analyst at Karvy Stock Broking said.

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Sensex: It’s Twenty20!

P@$$iØÑ\/@i(3H@\/ — Mon, 29 Oct 2007 11:24:00 +0000

It was a momentous day for the Indian markets on Monday as the benchmark index breezed past the 20,000 mark for the first time ever.

The Sensex hit an all-time high of 20,024 levels towards the fag end of the trading session, before settling at 19,977 levels, up 3.8 per cent or 734 points.

In broader markets, the Nifty moved up 3.6 per cent or 203 points to end the day at 5,905 levels.

“Post SEBI’s clarification on Promissory Notes (P-Note), I did not expect the markets to rise as much as they did. The rise has been spectacular,” said Jagdish Malkani, Member NSE.

“Markets have performed as per expectation. The current up move can take the Sensex to 20,800 – 21,200 levels,” added Hemen Kapadia, CEO, chartpundit.com.

The journey of last 10,000 points was covered in just 869 sessions as against 7,297 sessions taken to touch the 10,000 mark from 1,000 levels. In 2007 alone, there have been six 1,000-point rallies for the Sensex.

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The Sensex story: From 1K to 19K

P@$$iØÑ\/@i(3H@\/ — Fri, 26 Oct 2007 07:09:00 +0000

The Indian markets achieved another milestone on Friday. The Sensex conquered the 19,000-mark. The Sensex exhibited high volatility in early trades. After opening with a positive gap of 53 points at 18,824, the index tumbled into red to a low of 18,630. The index rebounded sharply and rallied to a high of 19,047 — up 417 points from the day’s low.

Following is the timeline on the rise and rise of the Sensex through Indian stock market history.

1000, July 25, 1990

On July 25, 1990, the Sensex touched the magical four-digit figure for the first time and closed at 1,001 in the wake of a good monsoon and excellent corporate results.

2000, January 15, 1992

On January 15, 1992, the Sensex crossed the 2,000-mark and closed at 2,020 followed by the liberal economic policy initiatives undertaken by the then finance minister and current Prime Minister Dr Manmohan Singh.

3000, February 29, 1992

On February 29, 1992, the Sensex surged past the 3000 mark in the wake of the market-friendly Budget announced by the then Finance Minister, Dr Manmohan Singh.

4000, March 30, 1992

On March 30, 1992, the Sensex crossed the 4,000-mark and closed at 4,091 on the expectations of a liberal export-import policy. It was then that the Harshad Mehta scam hit the markets and Sensex witnessed unabated selling.

5000, October 8, 1999

On October 8, 1999, the Sensex crossed the 5,000-mark as the BJP-led coalition won the majority in the 13th Lok Sabha election.

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Back above 19K

P@$$iØÑ\/@i(3H@\/ — Fri, 26 Oct 2007 07:07:00 +0000

The Sensex exhibited high volatility in early trades. After opening with a positive gap of 53 points at 18,824, the index tumbled into red to a low of 18,630. The index rebounded sharply and rallied to a high of 19,047 – up 417 points from the day’s low.

The index is now up 269 points at 19,040. The NSE Nifty is trading at 5,645, up 76 points.

Reliance Energy Tata Steel have surged over 3% each to Rs 1,699 and Rs 1,020, respectively.

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SEBI board approves P-Note proposals

P@$$iØÑ\/@i(3H@\/ — Fri, 26 Oct 2007 07:02:00 +0000

Market regulator SEBI announced new rules to regulate foreign investments through instruments like Participatory Notes.

The rules, to be effective from Friday, include no fresh issuance of P-Notes in derivatives as also winding up existing positions in 18 months, besides curbs on such instruments in the spot market.

Ending the debate on the issue, SEBI Board considered the proposals this afternoon and virtually retained all the clauses that the market regulator had put up for public comments last week.

SEBI had taken the views of FIIs on board following a suggestion from Chidambaram. In derivatives, Foreign Institutional Investors (FIIs) and their sub-accounts cannot issue fresh P-Notes and will have to wind up their current position in 18 months, he said.

In spot market, FIIs will not be allowed to issue P-Notes more than 40 per cent of their assets under custody. The reference date for calculating such assets will be September 30, SEBI said.

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DLF IPO: The untold story

P@$$iØÑ\/@i(3H@\/ — Tue, 17 Jul 2007 05:31:00 +0000

All’s well that ends well. The cliche holds true for what is now India’s biggest real estate company DLF, which listed on the bourses last week. Soon after listing, the company became the eighth most valuable in the country and its promoters,K P Singh and family are now the fourth wealthiest Indians behind the Ambani brothers and Sunil Mittal. But people who followed the issue carefully know it was one of the most tumultuous IPOs in recent times.

Right from the time the issue was conceived in the first quarter of 2006, it was plagued by controversy. There was intense speculation that a company with significant interests in real estate did not want DLF to get big money from the stock markets.

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Sensex ends below 13K

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