Stock Markets

Stock Markets strong as buying continues at lower levels

Indian Stock markets opened strong on Tuesday. NSE Nifty touched a high of 4949. At 2.20 p.m., NSE Nifty was trading with a gain of 24 points at 4883. BSE Sensex was up by 70 points at 16,701.

Technology stocks were strong yesterday. However, most technology majors were trading weak since morning on Tuesday. Satyam Computers lost 1% and was trading at Rs. 420. Infosys Technologies and TCS were also trading weak. Wipro was marginally up at Rs. 424.

VSNL was major gainer in yesterday’s trade. The stock was trading with a loss of 4.7% at Rs. 458 during the last hour of trade.

BSE down by 910 points; NSE Nifty bounces back from 4803

Stock markets have slipped further as selling continued due to weak market sentiment. There are no signs of recovery as markets are currently down by over 5 percent. BSE Sensex was down by 910 points at 1.30 p.m.

NSE Nifty was also down by more than 5% as selling continued in major index stocks.

Reliance group shares were among major losers. Reliance Power was trading at a discount of 13% to issue price. Reliance Energy and Reliance Communications were also among major losers. Reliance Industries lost over 5.5%. Reliance touched a low of Rs. 2235.

Stock Markets down by 4%; Power Stocks weak

Stock Markets opened weak today. The markets tried to recover initial losses but the selling pressure in major index stocks caused further downfall. Among major losers in today’s trade were Reliance Energy and Tata Power. Power Stocks lost quite substantially as Reliance Power is trading lower than its issue price.

Reliance Power is currently trading Rs. 405, lower by almost 10% compared to issue price of Rs 450.

Reliance Power trades 6.6% lower; Markets lose over 4 percent

Reliance Power disappointed investors on the day of listing. Market experts were expecting Reliance Power to list with a premium of 20 – 25 % compared to issue price. However, the Reliance Power stock opened at Rs 530 and soon slipped into red. The stock touched a low of Rs. 386.

Stock markets are trading with a loss of 4 percent. The NSE Nifty touched a low of 4909. BSE Sensex was down by 572 points at 16,873.

Stock Markets recover from early losses

The stock markets have recovered fast from lower levels. NSE Nifty touched a low of 4975 but is now trading at 5067 with a loss of 53 points.

After a weak opening, some stocks have witnessed buying at lower levels. Technology counters are among gainers in today’s trade. Infosys Technologies is trading higher by 1.5 percent at Rs 1575. Satyam Computers is trading with a gain of 1 percent. Polaris and Mastek were also among gainers.

Among other gainers are Tata Motors, MTNL, ICICI Bank and VSNL.

SBI Right Issue Opens On February 18

The rights issue of shares of State Bank of India (SBI), the country’s largest lender, is expected to garner over Rs 16,000 crore for the bank. The bank is offering one share of Rs 10 each for every five held at a price of Rs 1,590 per share. The issue will open on February 18.

The official said there was no problem with the issue despite choppy market conditions and the government was committed to subscribing to the rights issue to retain its 59.7% stake in the bank. The bank had also decided to issue shares to its 2 lakh employees under an employees stock purchase scheme.

Indian Stock Markets Down as global markets remain weak

Stock Markets opened weak on Wednesday as expected by most Technical Analysts. The Global markets were weak and US Stocks closed down by nearly 3 percent due to service sector weakness.

BSE Sensex opened weak and within first 10 minutes of trade was below 18,000 mark. NSE Nifty lost around 200 points in first five minutes of trade as major index stocks lost in early trades.

Technology Stocks were also trading with big loss. Wipro was down by 4.2%. Infosys Technologies lost over 4% at 1540. Satyam Computers was trading at 419 with a loss of 4 percent at 11.10 a.m.

Stock Market Report

Indian Stock markets remained range-bound on Tuesday after a weak opening. The NSE Nifty closed at 5,483.90 with a gain of 20 points. BSE Sensex closed 18,696 with a gain of 35 points. Technical Analysts at Angel Broking see a major support for NSE Nifty at 5400. The next support is at 5380.

Pharmaceutical counters gained in today’s trade. Sun Pharmaceuticals, Ranbaxy, Dr. Reddy’s labs and Cipla closed with decent gains. Ranbaxy and Dr. Reddy were trading in positive zone with both stocks gaining over 3.5 percent.

Stock Market Trading in Positive Zone

After a weak opening, the Indian Stock markets have started their upward journey again. The NSE Nifty is trading with a gain of 32 points at 2 p.m. NSE Nifty touched a high of 5498 and a low of 5412. Buying has been witnessed in select counters at lower levels.

Technology stocks have lost steam today after recent rally. Satyam Computers was trading marginally low. Wipro and Infosys Technologies were lower by over one percent.

Ranbaxy Labs continued to trade strong. The stock was up by 3.3 % at Rs 386. Dr. Reddy and Cipla were also trading with gain of over 1 percent.