Business Daily from THE HINDU group of publications
Wednesday, Jul 23, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Wednesday, Jul 23, 2008 ePaper | Mobile/PDA Version | Audio |
|
|
|
|
|
Home Page
-
Stock Markets Markets - Outlook Government - Politics “The Government winning means that it is no longer stifled by political parties that may not be inclined to reforms.” Our Bureau
Mumbai, July 22 The winning of the trust vote, by the Government, could give a boost to stocks, but that may be short-lived, as the outcome was a foregone conclusion, said traders. This has been evident from the 1500-point gain of the Sensex over four consecutive trading sessions. Tomorrow, the market could see a short upside as an initial reaction, after which it would be back to the basics, said Mr Gaurav Dua, Head of Research, Sharekhan Ltd. On Tuesday, the Sensex gained 254 points, to close at 14,104. Mr Hitendra Dave, Head of Global Markets, HSBC, said the market would see a rally tomorrow: “For a few days fundamentals will be forgotten. Crude is at a low. The market is also at a beaten down level.” Oil prices falling to below $130 a barrel would be another positive. He said there would be a rally in equities and currencies: “The Government winning means that it is no longer stifled by political parties that are not inclined to reforms,” he said. The Sensex and Nifty futures contracts closed at a handsome premium. Sensex future closed at a premium of 57.15 points at 14,161.35 while Nifty Futures closed at a premium of about 9 points at 4249. The turnover in the cash and futures market went up sharply at the NSE; cash at Rs 13,108 crore as compared with Rs 10,640 crore on the previous day, and F&O at Rs 54,100.84 crore (Rs 43,942 crore) The Anil Dhirubahi Ambani Group-owned companies gained between 4.5 and 8 per cent on the BSE. RIL was flat; while RPL gained 3.5 per cent. Reliance Power gained 7.90 per cent, Reliance Capital 7.87 per cent, Reliance Infrastructure 6.83 per cent, RNRL 6.83 per cent, and Adlabs Films 5.81 per cent. The BSE Power index gained 4.29 per cent.
Markets cautious ahead of vote Politics of the market Dalal Street keenly watching political drama More Stories on : Stock Markets | Outlook | Politics
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
 |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2008, 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
|
