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Tuesday, August 5, 2008
UPDATES ON AUG 5 2008
AUG 5 TUESDAY
SENSEX ENDS LOWER ON PROFIT TAKING.
Weak global markets spurred traders to take profit in blue chips
after 3 consecutive sessions of gains , pushing shares to finish lower
on Monday.The Bombay Stock Exchange's 30 stock sensitive index
or sensex fell 78.82 points or 0.5 % to end at 14577.87 after a
volatile session.The sensex traded between 14503.51and
14725.94.
The index has risen over 6 percent in the last 3 sessions since
July 29.
Participants expect a weak close in the U.S markets overnight
might prompt further profit taking on Tuesday,even though
a sharp fall may be limited as long term investors are
expected to hunt for bargains at every fall
.On the National Stock Exchange , the 50 stock S&P CNX
Niftyfell 18.20 points or 0.4 % to end at 4395.35.
Index heavyweights which have been outperforming
the broader market in their gains during the last
3 sessions, saw maximum profit taking as traders
sold these on hopes ofpicking them back at a lower
price if the markets fall more.
STOCK SPECIFIC ACTION
Reliance industries fell 2.5 % to Rs 2242.50.
Oil and Natural Gas fell 1.5 % to Rs 981.55.
Larsen and Toubro fell 1.3 % lower at Rs 2656.55.
Power utilities which rose on Friday on bargain hunting
after earlier falls, resumed their decline with m0st traders
expecting a slow down in order inflow.
Bharat Heavy Electricals fell 2.4 % to Rs 1714.15.
Reliance Infra structure fell 0.9 % to Rs 1001.60.
NTPC fell 0.9 % to Rs 175.15.
Metal shares gained on extended buying in the sector
on the back of strong first quarter profit growth by
most companies and expectation of price rise due to
firming up of global commodity prices.
Tata Steel rose 1.6% to Rs 691.75.
Hindalco gained 1 % to Rs 142.10
Steel Authority Of India gained 5 % to close at Rs 151.20.
SENSEX ENDS LOWER ON PROFIT TAKING.
Weak global markets spurred traders to take profit in blue chips
after 3 consecutive sessions of gains , pushing shares to finish lower
on Monday.The Bombay Stock Exchange's 30 stock sensitive index
or sensex fell 78.82 points or 0.5 % to end at 14577.87 after a
volatile session.The sensex traded between 14503.51and
14725.94.
The index has risen over 6 percent in the last 3 sessions since
July 29.
Participants expect a weak close in the U.S markets overnight
might prompt further profit taking on Tuesday,even though
a sharp fall may be limited as long term investors are
expected to hunt for bargains at every fall
.On the National Stock Exchange , the 50 stock S&P CNX
Niftyfell 18.20 points or 0.4 % to end at 4395.35.
Index heavyweights which have been outperforming
the broader market in their gains during the last
3 sessions, saw maximum profit taking as traders
sold these on hopes ofpicking them back at a lower
price if the markets fall more.
STOCK SPECIFIC ACTION
Reliance industries fell 2.5 % to Rs 2242.50.
Oil and Natural Gas fell 1.5 % to Rs 981.55.
Larsen and Toubro fell 1.3 % lower at Rs 2656.55.
Power utilities which rose on Friday on bargain hunting
after earlier falls, resumed their decline with m0st traders
expecting a slow down in order inflow.
Bharat Heavy Electricals fell 2.4 % to Rs 1714.15.
Reliance Infra structure fell 0.9 % to Rs 1001.60.
NTPC fell 0.9 % to Rs 175.15.
Metal shares gained on extended buying in the sector
on the back of strong first quarter profit growth by
most companies and expectation of price rise due to
firming up of global commodity prices.
Tata Steel rose 1.6% to Rs 691.75.
Hindalco gained 1 % to Rs 142.10
Steel Authority Of India gained 5 % to close at Rs 151.20.
