Skip to main content

A look at the indian stock market today

Indian shares higher in afternoon trade led by energy, tech stocks

Indian shares were trading higher in the afternoon today led by energy and IT stocks.
At 0730 GMT, the Bombay (OTCBB:BBAO) Stock Exchange's Sensex was up 203 points, or 1.2 pct, to 17,124, while the National Stock Exchange's S&P CNX Nifty was trading up 1 pct to 4,994, off its record high. The Nifty crossed 5,000 mark within minutes of opening today.Cleveland Museum of Art
The rally was in line with the record-breaking performance in Asia, where shares in Hong Kong, Sydney and Singapore hit new highs powered by the overnight rally in the US and upbeat estimates about the Asian third-quarter earnings season.
Reliance Energy was the biggest gainer on the Sensex, up 7.2 pct to 1,099 rupees amid reports the company is restructuring its business.
'There is buzz in the market that Reliance Energy is going to de-merge into real estate and utility businesses,' said Devang Dhruv of Max consultancy Pvt Ltd.
Infosys Technologies (NASDAQ:INFY) rose 4.26 pct to 1,902 rupees.
Other IT stocks like Wipro, Tata Consultancy Services (OOTC:TACSF) and Satyam (NYSE:SAY) Computer also gained, propped by the country's central bank's intervention to bring down the rupee from its nine-year high of 39.62.
The Reserve Bank of India was said to have been aggressively buying dollars to tame the rupee -- that ended the day at 39.72 against the dollar.
Satyam was up 3 pct to 444 rupees after the company announced the launch of a new solutions centre in Brisbane, Australia.
The baking sector, however, witnessed some profit-booking with ICICI Bank (NYSE:IBN) and HDFC Bank Ltd (NYSE:HDB) both down about 0.5 pct.
Also, today being the futures and options expiry day, the market could see some volatility towards the closing.
'The Reliance Petroleum (OOTC:RPLUF) and Reliance Industries Ltd scrips in particular could be volatile as a lot of short positions have built up in these two stocks,' Dhruv said.



Popular posts from this blog

List of Australian blue chip stocks

Australian shares gained 0.6 percent on Wednesday led by blue chip miners and financials on strong resource price

The biggest Blur chip stocks traded on the ASX, in terms of their market capitalisation, include:
BHP BillitonCommonwealth Bank of AustraliaTelstra CorporationRio TintoNational Australia BankAustralia and New Zealand Banking GroupRio tintoWestpac
The only stock to do worse than the S&P/ASX 200 is Harvey Norman Holdings Ltd [ASX: HVN]. Even so, it’s a better-than-the-bank 8.3% gain. The others have done much better: Qantas [ASX: QAN] up 36.1%; JB Hi-Fi [ASX: JBH] up 20.5%; Toll Holdings [ASX: TOL] up 25.3%; and Myer Holdings [ASX: MYR] up 37.1%. The benchmark S&P/ASX 200 index rose 27.1 points to trade at 4,977.3 by 2310 GMT. It fell 0.8 percent on Tuesday, its lowest close since February 7.

Best Australian stock forums online ( finance forums)

Many traders and investors use forums to share ideas, learn from the more experienced, or simply to stave off boredom during long hours at the computer. Here we list the known universe of forums, complete with costs, member numbers, extra benefits and popular forum topics. Please post a message on Your 2 Cents if your favourite forum isn't listed here, or if you feel that there's more to add about the day-to-day goings on in your online community.Forum
Stock comps
Forum areas
AussieStockForums.comFreeASX by share code, General, Beginners, Derivatives, Commodities, International, Strategies/SystemsEasy to use, independent forum. Aussie Stock Forums has a group of very active and knowledgeable traders. Private messaging available. Australian forum.
Chimes in ExileFreeASX stocks, fundamental analysis, technical analysis, commodities, economics, investment tools The forum has a small group of regular contributors that form a genuine community of investor…

The diggers and dealers forum meet 2011

The diggers and dealers forum has just begun August 1. Its a three day annual event happening every year  at the WA country town of kalgoorlie.2011 Diggers & Dealers forumBig name brokers  keenly watching the event will be MacquarieDeutsche BankBell PotterGoldman SachsRBS MorgansEvans & PartnersHartleysBlack Swan Euroz.Well most other websites will give you the  finer details of the annual meet and greet that happens at kalgoorlie , so we will just stick with the bare minimum of details  and focus on the more enjoyable bits  of information that the dealers require to strike a good deal while in town.Bare detailsWebsite : Diggers & DealersEvents : Program and scheduleWatering holes and entertainment at Diggers and dealers forumPubs , clubs  and skimpy (barmaids) culture in kalgoorlie . There are about 25 pubs in Kalgoorlie-Boulder area and for a city that stretches just 67sq km the number of pubs makes for  a good choice on drinking holesand entertainmentExchange Hotel ( Pa…