"While the risk of a correction goes up in the near term, on a long-term basis the Indian market is on an absolutely strong footing."
Earning numbers of blue-chips, including ITC and SBI, due tomorrow.
India is today one of the top locations for semiconductor design and embedded software, but it remains hidden under a generic and misleading name, IT/ITES services.
The market direction will be guided by corporate earnings, especially the oil & gas companies, since they were responsible for earnings disappointment in the past quarter as well.
.jpg)
BSE auto index surged 2%, capital goods, healthcare and oil & gas indices also up.
Private equity-backed Kosmos, which has received a total of $800 million in financing from Blackstone and Warburg Pincus, has hired Standard Chartered and Barclays Plc to sell its stakes in the offshore Jubilee oil field. A potential sale of Kosmos' stake in the Jubilee field is being closely watched as the asset is one of the largest oil finds in West Africa in the past decade.
BSE Healthcare, Oil & Gas, Consumer Durable, TECk, Power and Metal indices declined between 0.5-1%.
The Sensex ended 290 points higher at 29,095 mark and the Nifty gained 94 points to close at 8,806 levels.
AAP has promised lower electricity bills, free basic water supply.
After sharing the losses of state-owned fuel oil retailers, upstream producers may also have to pay income tax on the burden they take on their books.
The 30-share Sensex ended down 159 points at 27,425 and the 50-share Nifty closed down 24 points at 8,299.
The government is scheduled to release index of industrial growth for November and consumer price inflation for December later today.
Foreign institutional investors were net buyers in Indian equities worth Rs 277.92 crore on Tuesday
The 30-share Sensex and the 50-share Nifty ended flat at the mark of 27,403 and 8,248 respectively.
BHEL down around 2.4% and Bharti Airtel down around 1.6% were other major losers.
SBI, PNB, Bank of Baroda, Canara Bank, Dena Bank, Central Bank of India ended down 3%-12% each.
The S&P BSE Sensex gained 115 points to end at 24,338 and the Nifty50 climbed 42 points to close at 7,404.
The Nifty had hit its third successive record high of 7,922.70 today.
Benchmark share indices ended at record closing highs, amid a volatile trading session on Monday, with IT majors leading the gains.
Weak GDP data and unfaouvrable global data has pulled down Sensex, Nifty.
Markets end in the red, midcaps in focus
.jpg)
Shedding its gains from Monday, NIkkei has declined around 0.7% while Hang Seng and Shanghai Composite were trading marginally lower.
The market players are expected to react to the better than expected factory output data for the month of August, which revealed that the industrial production grew by 6.4%.
95% of investments in domestic sector, won't pay special dividend: Raha.
Corporate India's earnings in the past two quarters were largely driven by the rupee's sharp fall versus the dollar in the second quarter of this financial year.
'Retail investors have been selling since the Budget and Foreign Portfolio Investors started selling.' 'Thus far, domestic institutions have picked up the slack, buying enough to keep the major indices from falling off a cliff.' 'However, there has been carnage in smaller stocks and the financial sector has been hit much harder than the major market indices,' points out Devangshu Datta.
The broader NSE Nifty closed below the 10,600 mark by plunging 98.15 points, or 0.84 per cent, to 11,582.35 after shuttling between 11,567.40 and 11,751.80.
More than 10% (40 of 498 companies) have lost at least half their market value.
Market breadth continued to remain strong, with 1899 gainers and 674 losers on the BSEs.
The Sensex had bounced back with gains of 94 points or 0.3%
Public sector major Oil & Natural Gas Corporation on Monday reported 6.46 per cent decline in net profit at Rs 4,366.54 crore (Rs 43.66 billion) for the quarter ended December 31, 2007 compared to Rs 4,668.31 crore (Rs 46.68 billion) in the year-ago period.
.jpg)
'Mining jobs get created in the most backward districts of India's poorest states,' says Anil Agarwal.
Oil & Natural Gas Corporation has posted a net profit of Rs 34933.20 million (Rs 3493.32 crore) for the quarter ended December 31, 2004 as compared to Rs 17185.30 million (Rs 1718.5 crore) for the quarter ended December 31, 2003.
Notable losers were ONGC, Axis Bank, ITC, SBI, ICICI Bank, NTPC, Hero Motocorp, Sun Pharma and Bharti Airtel who fell by up to 2.80 per cent.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances