Financial Daily from THE HINDU group of publications
Saturday, Nov 26, 2005
Financial Daily from THE HINDU group of publications Saturday, Nov 26, 2005 |
|
|
|
|
|
|
|
Home Page
-
Stock Markets Markets - Foreign Institutional Investors Sensex at all-time high on FII buying — BSE Capital Goods index largest gainer at 3.36 pc Our Bureau
Mumbai , Nov. 25 THE BSE Sensex closed the day at an all-time high of 8853.21 after the index spurted by 109.17 points or 1.25 per cent largely on foreign investor buying. The Nifty too closed at an all-time high of 2664.30 points, a rise of 29.30 points or 1.11 per cent. There was all-round buying as HLL rose Rs 10 to Rs 187, SBI was up Rs 7 at Rs 907 and ITC gained Rs 2 to Rs 136. Software stocks moved up on the back of Wednesday's upbeat US consumer sentiment data as Infosys moved up 1.5 per cent (Rs 39) to Rs 2,740, Satyam advanced Rs 15 to Rs 657 and TCS was up Rs 9 at Rs 1,533. Carmakers Maruti Udyog and Tata Motors were up on renewed buying as Maruti was up 3.5 per cent (Rs 21) at Rs 620 and Tata Motors gained 3.3 per cent to Rs 574. Analysts expect the Government to cut excise duty on cars, as a part of the auto policy being worked out. Dealers said that there was renewed fund flow from Japanese and West Asian investors. "All those FIIs who wanted to book profits have exited in October and new FIIs with a higher threshold have entered. The trend is overall bullish," said an analyst with a leading research outfit. Strong FII flow: FII flows were positive at Rs 3,338 crore for November compared to net outflows of Rs 3,693 crore in October. FIIs' interest in India is expected to continue and more foreign funds would come in at declines according to the investment Guru, Mr Marc Faber. He expressed optimism about Indian equity markets in an interview to a business channel. The BSE Capital Goods index was the largest gainer at 3.36 per cent followed by the FMCG index at 2.33 per cent. In capital goods, the Siemens stock saw a rally of Rs 307.95 to touch Rs 2,945 on the back of a 82.5 per cent growth in net profits for the quarter ended September 2005. Among FMCG stocks, Upper Ganges Sugar touched Rs 248.50 with a gain of Rs 22.55 while Nirma was up Rs 34.10 at Rs 489.25 RIL weak: Reliance Industries, however, missed the trend and closed lower at Rs 843.30 on reports that the High Court had adjourned the hearing on RIL's plans to spin-off its power, telecom and financial services interests, to next week. The rally in overseas indices was also reflected on the Indian bourses as the indices of Korea, Japan, Hong Kong and Singapore were up by 9.69 per cent, 34.26 per cent, 22.04 per cent and 9.79 per cent respectively on Friday.
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page More Stories on : Stock Markets | Foreign Institutional Investors
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2005, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|