Market Today

14 - august - 2009

The 30 share index, Sensex picked up 251.39 points, or 1.66%, to end at 15,411.63 in the week ended Aug. 14, 2009. On the other hand, the broad based NSE Nifty gained 98.65 points, or 2.20%, to end at 4,580.05 in the same period.

The Indian equities made a good come back during the week contrary to last week plunge on the back of encouraging global cues, good corporate earnings and intense buying interest. US Fed announcement of that the recession is easing along with strong IIP data and the new direct tax code unveiled by finance minister Pranab Mukherjee helped in boosting the market sentiment. However, fears of Swine flu and widening monsoon deficit continued to hover as dark over Indian equities.

The U.S. Federal Reserve on Wednesday, August 12, resolved to keep the key interest rates unchanged, at 0 to 0.25%. Federal Open Market Committee (FOMC) of the US Federal Reserve opined that the US economic activity is levelling out, and conditions in financial markets have shown further improvement in recent weeks.

Meanwhile, Index for industrial production (IIP) bounced back sharply in the month of June 2009, witnessing a growth of 7.8% as against growth of 2.7% in the previous month (May 2009).

For the week ended Aug.1, 2009, India`s benchmark wholesale price index (WPI), annual inflation continued to tread in negative zone, standing at -1.74% as compared -1.58% a week ago.

The government on Wednesday, August 12 unveiled radical tax reforms through a draft code that aims at moderating income tax rates, abolishing Securities Transaction Tax and increasing deduction for savings up to Rs 300,000.

The new direct taxes code has suggested a significant expansion of personal income-tax slabs, with levels of relief going up with incomes. Along with reducing the corporate tax rate to 25% abolish Securities Transaction Tax (STT), it also suggests reintroduction of tax on long term capital gains on securities trading.

Primary market activity also gained momentum during the week. Initial public offering (IPO) of National Hydroelectric Power Corporation (NHPC), India`a largest hydel power generator has been subscribed 23.62 times on close, with major subscription coming from qualified institutional buyers.(9.49 times). The shares of the company are likely to be listed by first week of September.

JSW Energy, an energy company and part of the Sajjan Jindal-led JSW Group is planning to enter the capital markets with a public issue of equity shares of Rs 10 each for cash at a price including a share premium aggregating up to Rs 30 billion at the time of issue to be decided through a 100% book-building process.

Edible oil firm Raj Oil Mills on Wednesday, August 12 got listed with a premium of 4.20% against its issue price of Rs 120 a share on the Bombay Stock Exchange (BSE). Meanwhile, on the National Stock Exchange, the company got listed on par with its issue price.

Meanwhile late on Friday evening, JSW Energy, an energy company and part of the Sajjan Jindal-led JSW Group is planning to enter the capital markets with a public issue of equity shares of Rs 10 each for cash at a price including a share premium aggregating up to Rs 30 billion at the time of issue to be decided through a 100% book-building process.

Mid-cap stocks gained 170.56 points, or 3.14%, to 5,603.81 in the week. While small-cap shares climbed 218.8 points, or 3.53%, to 6,412.56 during the week.

Major gainers over the week in the sectoral indices were Realty gained 7.78%, Metal 4.77%, Oil & Gas rose 3.25%, HC climbed 3.03%, and BSE Conusmer Durables went up 3.02%.

Meanwhile, FMCG dropped 0.07% was the only major loser in the sectoral indices over the week.

Day Today

it has been a day man...
wake up early... for a change,,, ateet went to baroda... so no bath jaghda.... peacefully bathed, and then i and gajju took auto to vashi station.... and then in to the company.... ate dhosa in canteen and then went up to my cubical,,, and saw that the weekly meeting of defect tracking was on... sanchita was smiling at me,,, with sonali was clearly looked in trouble with prasad was going over the defect he identified in lightspeed, ashok was too much excited and told sonali that " defend ur point cleverly"... which she was not able to do bcoz she had done mistake, and she also accepted it that she missed it.

now sanchita's turn came, when archana had identified three defects from the last weeks table work we had done, and as usual the mistakes were in the dhava's work, as he had done a typo error at entering the data table... then another defect she explained was big shock to her, as it was done due to mistake in TR form, so suhas, ram and vik ( big 3 ) said her that next time she send form, review it at her end, correct such mistakes and then only send the form, sanchita ws happy, me too, but archana wouldn't be that that happy with that...

done nothing in office today,,, had lunch of shrikhand, puri pulav ( It's janmashtami today) with aditya, gajju and bhushan, went up after taking lunch and opened a novel DECEPTION POINT of DAN BROWN, as i was about to finish FALSE IMPRESSION by today. yes deception point is my next target.


TODAY IS JANMASHTAMI
but swine flue's effect is that much higher that every one has abandoned the celebration of it, so i think there will not be any DAHI HANDI program today.


today is also bhamri's b'day... i also called her to say her happy b'day.... Now i remember everyone's birthday as i have google calender service with me, it notifies with a text message on my mobile for the next b'day.... thanx google...