Stock Markets were trading flat in the afternoon session on Thursday. BSE Sensex was down by 30 points at 19960 while NSE Nifty was trading with a loss of 11 points. Most of the heavyweight index stocks were trading flat.
Among major gainers in today’s session were PNB (trading 4.8% higher), HCL Tech (trading 3.8% higher), Ambuja Cements (up by 2%) and Aptech (trading with gain of over 11%). HDFC touched 52-week high of Rs 900 in today’s trading session.
Among major losers were Sun Pharma, Ranbaxy Labs, Axis Bank and NMDC. Standard Chartered has expressed positive sentiment about the earnings for fourth quarter from majority of Indian companies.
German car maker BMW’s Indian arm received Rs 650 crore showcause notice from Income Tax department.
Indian markets are expected to remain rangebound for today’s session. Asian markets closed mixed on Thursday.
Indian Stock Markets were trading marginally higher during afternoon trade with Hero MotoCorp, Maruti Suzuki and DLF among major gainers. At 14.28 pm IST, BSE Sensex was up by 46 points at 19300 while NSE Nifty was trading higher by 10 points at 5828.
European markets have opened marginally higher. FTSE was up by 0.2 per cent at 6440. DAX and CAC were also marginally higher.
Among major gainers in today’s trade were Hero MotoCorp with gain of 4.2% at Rs 1716. Maruti Suzuki was higher by 1.8% at 1450. DLF and Larsen were up by nearly 2 per cent.
Among major losers were Jindal Steel, HUL, Tata Motors and Ambuja Cements. Reliance, ONGC and Coal India were trading marginally lower.
Indian currency was slightly higher compared to US dollar and Euro. Gold was trading at Rs 29555 for 10 grams in Mumbai market while Silver was at Rs 55050 for 1000 grams.
Indian Stock Markets opened marginally higher and banking stocks have continued from yesterday’s rally. Axis Bank and SBI were among major gainers in early trades. BSE Sensex was up by 15 points while NSE Nifty was higher by 3 points.
Among banking stocks, Federal Bank, Union Bank, Axis Bank and Bank of India were up by more than a per cent. PNB, Kotak Mahindra, IndusInd Bank, SBI, Bank of Baroda, Yes Bank and Canara Bank were trading higher.
Among sectoral indices, BSE Auto was up by 86 points. BSE HealthCare was up by 45 points and BSE Metals index was also positive. IT, Oil & Gas and Capital Goods stocks were trading lower.
Aashish Tater of Fortunewizard. com has suggested Omkar Speciality Chemicals as a multbagger stock during at interview with CNBC-TV18. He has also suggested investors to buy Lanco Infratech with a medium term view for decent gains.
Indian Markets opened positive on Wednesday with BSE Sensex up by 42 points at 19296 and NSE Nifty up by 11 points. Asian Markets were trading strong as well. Nikkei 225 was trading higher as Japanese Yen was weak compared to US Dollar and Euro.
CFO of McLeod Russel has expressed his view that tea prices are likely to remain strong during year 2013. As the production of tea was hit by weather, the supply constraint will most likely push up prices. McLeod Russel stock was up by 0.6% at Rs 356.
Bharti Airtel, JP Associates, Ranbaxy Labs, Cipla and Sun Pharma were among major gainers in todays session. Infosys, TCS, Wipro and other technology counters were trading marginally lower. Banking stocks were also trading lower compared to previous close.
Market analyst SP Tulsian has given buy call for Balrampur Chini. Sudarshan Sukhani has given buy call for Sesa Goa. Manoj Murlidharan has given buy call for ITC with target price of Rs 301.
CARE has debuted on stock market today with positive surprise for retail investors. The stock has touched intraday high of Rs 985 and is currently trading at Rs 964 on back of strong trading volume.
Monday’s stock market was full of ups and downs and it would not be wrong to say that the whole day bent towards low trade.
Though there was instability, Tata Motors was announced as gainer for Monday’s trade. It rose by 4.9% which amounted to Rs 169. There is reason for it as on the same day, the company launched the novel model of Nano.
The new model promises to deliver better services and also has increased fuel efficiency and would also boast of complete new looks which were not present in old models, but it would be sold at the same price.
It is not that Tata did not witness loss in share market. It declined by 11.36% but despite that, it managed to register growth. As per reports by brokerage firm Kotak, there is no doubt that there has been growth and main credit of it should go to the novel model of Nano, but it should be noted that there are places where it needs improvement.
First of all, the company is too lenient on operating profit front and this is the main reason for decline in the sale of domestic business. In addition, various factors like high discounts, increased market investment and negligible presence in the passenger car segment are also some of the many reasons for the decline.
Jaguar Land Rover has shown great sales in market and it has made the company earn a fat amount. TO tell in details then its profit after tax is £1 billion. Profit could have increased if forex losses would not have been there.
Officials were of the view that it is a luxury drive and is doing exceptionally well in China and Russia but as said, it is a complete luxury drive so its sales have found to be declining in developing countries by 2%.
It has been recently revealed that there is soon going to be a deal struck between India and Pakistan. This is going to be a huge trade deal that is going to open ways for better relations between the two nations. Pakistan has promised that they shall grant Most Favored Nation status to New Delhi.
There were talks held between commerce secretaries from both the nations and there were discussions done over a number of important issues regarding the new deal. Pakistan has also promised to give the full normalization of the bilateral trade relations with the neighboring country. This would also suffice the legal needs of the agreement.
According to a joint statement that was given out after the meeting, it was revealed that the negative list of items is going to be removed by Pakistan by February 2012.
It was further added by Zafar Mahmood, the Commerce Secretary of Pakistan that the negative list shall be discussed further and phased out by the end of 2012. There is also going to be the enhancement of Preferential Trading Agreements between the two countries as per the South Asian Free Trade Agreement Process.
More interaction is going to be done between the two countries so that bilateral trade is benefitted. There is need for both the nations to open up to each other further and become close and friendly with each other in order to trust each other for trade purposes. It sa matter of time to see what turn the events take and how well is it to bring back arch rivals under the same trading roof. It will either bring the two nations closer in terms of trade and personal relations, or might tend to strain them further.