Business Daily from THE HINDU group of publications
Thursday, September 20, 2007
ePaper
Markets (Sept. 19)
BSE Sensex16322.75 (+653.63)
S&P CNX Nifty4732.35 (+186.15)
US Dollar (Buy/Sell)40.23 (-0.28)


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MARKETS

ANNOUNCEMENTS
Corporate developments
Our Bureau Coimbatore, Sept. 19 The board of Bharat Petroleum Corporation Ltd approved a Joint Venture with Matrix Marine Fuels LLC (US) in Singapore (primarily for expanding bunkering business) with ... More

MUTUAL FUNDS
Urban co-ops can invest only in debt, money market MFs
Mumbai, Sept. 19 Urban co-operative banks (UCBs) will not be permitted to invest in units of mutual funds other than debt mutual fund and money market mutual funds, says a notification from the Reserve Bank of India. The central bank ... More

STOCKS
Sensex surges past 16,000
It’s all-time high; Fed rate cut powers 653-point gain More

‘ONGC stock split, bonus issue in due course’
ONGC Videsh bags three blocks in Colombia More

Orient-Express share price unaffected
The shares of US-based Orient-Express Hotels in which the Taj group picked up 10 per cent stake opened strongly at $53.99 on New York Stock Exchange on Wednesday as opposed to previous day’s close of $53.19. The company’s ... More

Uptrend in sugar stock prices
Although the sugar stocks ran in glory keeping with the overall market trend, the reality seems to be indifferent according to the trade. Sugar stocks seemed to have taken off after the Agriculture Minister was quoted to have said that ... More

Two-wheeler scrips gain across the board
Mumbai, Sept. 19 The US Fed Reserve reduced the benchmark funds target rate by 50 basis points to 4.75 per cent (5.25 per cent) on Tuesday.In anticipation that the Reserve Bank of India will follow suit, an adverse effect occurred on ... More

Reliance MF buys shares in CCL Products
Mumbai, Sept. 19 Reliance Mutual Fund today bought 9,56,680 shares of CCL Products (India) Ltd. This opened Reliance Mutual Fund’s account in CCL, and they now have a stake of 7.19 per cent in the company according to data ... More

Nagarjuna moving up the value chain
Consolidating position as EPC provider More

TECHNICAL ANALYSIS
Bull prevails
Bull prevails during Wednesday’s trading activity. The sentiment reading of the tradable counters remains bullish. Bear move on Thursday is likely to change the sentiment reading in their favor. On the contrary, prevailing bullish ... More

Today's Pick: Bank of India (Rs 259.10)
We recommend a buy in Bank of India at current price. The stock has been in uptrend since the July 2006 low of Rs 80. However, after making an all-time high at Rs 276 in July, the stock has been declining. This short-term downtrend got arrested ... More

Day trading guide
The stock broke above the key resistance at Rs 932 backed with good volume. The daily momentum indicator has entered the bullish region. We maintain our buy recommendation on this stock.Infosys On Wednesday the ... More

STOCK MARKETS
Market buoyancy shows weak integration at global level
Low correlation draws FIIs; better returns here, though risks are higher More

16K Rally
More

Betting on Supreme gains
Some players have begun market-making operation in Supreme Industries, betting on its value proposition in view of revenue as well as earnings growth and relatively low market capitalisation. The plastics and plastic product company has reported ... More

DERIVATIVES MARKETS
Nifty future premium widens
It was a strong show by Nifty future as it registered its new peak in its 7-year-old history. The Nifty September future reached a high of 4749 before settling for the day at 4742.70 against the previous day’s close of 4549.80, ... More

FOREIGN INSTITUTIONAL INVESTORS
FII show all the way; net buying at Rs 2,457 cr
Mumbai, Sept. 19 FIIs, which led the rally in the stock markets on Wednesday, were net buyers to the tune of Rs 2457.6 crore. The rally was solely led by them, domestic institutions being net sellers at Rs 328 crore and the retail ... More

REGULATORY BODIES & RULINGS
SEBI clarifies buyback regulation
More

COMMENTARY
Realty, Bank, Commodity lead stock market rally
Real estate stocks have made a strong recovery More

IPOS
DLF lines up Singapore listing plan
New Delhi, Sept. 19 Close on the heels of taking DLF Ltd public with a Rs 9,187.5-crore IPO, Mr K.P. Singh has now set his sights on listing DLF Assets in Singapore in a $1-billion public offer.DLF Assets, which has been set up for ... More

OUTLOOK
US Fed rate cut tonic for India Inc
Near term outlook may brighten More

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