Monday, May 28, 2012
After rising on a weekly basis after a long time, the Indian stock markets ended with healthy gains on the first day of the new trading week. The NSE Nifty came close to the 5000 mark, surging ~70 points in intraday trade. On the other hand, the BSE Sensex jumped by ~200 points, ending above the 16,400 mark. The BSE Sensex ended at 16,417, gaining by 1.2% or 199 points. It had earlier touched a day’s high of 16,440 and a day’s low of 16,273. It opened at 16,289. The NSE Nifty settled at 4986, up by 65 points or 1.3%. It touched a day’s low of 4,931 and day’s high of 4,995. SBI, BHEL, Tata Power, PNB, Sesa Goa, Axis Bank, Tata Motors, Bank of Baroda, Power Grid Corporation, Hindalco Industries, M&M, ICICI Bank, NTPC, Sterlite Industries and HDFC Bank were among the notable leaders on the Sensex and the Nifty. GAIL, BPCL, Maruti Suzuki and ONGC were the notable losers on both the indexes.
If the Bharatiya Janata Party was quick to call for a nationwide strike on May 31, to protest the steepest petrol price hike that this country has ever seen, the response from the Communist parties was about as nimble. While the Red Brigade hasn't given any clear indication on whether or not it supports the BJP, it has decided to observe an 'All India Protest Day' on the very day the BJP has planned its Bharat Bandh. It is a very casual approach toward the solution of the problem, but it may work if the general public will cooperate. The actual problem is that the opposition is not strong enough to protest on any matter related with fuel hike and other strong issue on which public opinion can easily be obtained. The problem lies with the production unit of petrol who are supplying fuel to the government. It's pure monopoly business and until some alternative sources comes ou , these Oil suppliers will continue to take undue advantage, whichever political party is in power. The best solution for the problem is to declare 'No petrol day' once a month, on that day common public should not buy a single drop of petrol , so as to send clear message to the oil suppliers that if whole India keep there vehicle shut for a single day , how much loss the company has to bear.
Coal India has announced the following consolidated results for the quarter & year ended March 31, 2012: The Audited consolidated results for the Quarter ended March 31, 2012 The net profit of the group dropped by 4.92% to Rs4013.41 crore for the quarter ended March 31, 2012 as compared to Rs4220.92 crore for the quarter ended March 31, 2011. The total income of the company increased by 31.92% to Rs21746.94 crore for the quarter ended March 31, 2012 from Rs16485.69 crore for the quarter ended March 31, 2011. The Audited consolidated results for the Year ended March 31, 2012 The net profit of the group advanced by 36.08% to Rs14788.20 crore for the year ended March 31, 2012 as compared to Rs10867.35 crore for the year ended March 31, 2011. The total income of the group increased by 26.95% to Rs69952.33 crore for the year ended March 31, 2012 from Rs55101.42 crore for the year ended March 31, 2011. Coal India closed at Rs315.05, up by 0.57%, with a volume of 2 lakh shares on the BSE.
The Indian markets stayed higher throughout the day on the back positive global cues and continued pullback in the rupee. The Sensex closed 199 points higher and the Nifty rose 65 points. Major Headlines Oil India slips after posting Q4 nos Bharat Forge Q4 net profit jumps by 42% IOC Q4 cons net profit declines by 46% No price hike for diesel, LPG, kerosene: Jaipal Reddy RIL proposes new plan to develop D-6 block
Turnover rises Nifty June 2012 futures were at 4992, at a premium of 6.35 points compared to the spot closing of 4985.65. Nifty May 2012 futures were at 4987.50, near spot closing. Turnover on NSE's futures & options (F&O) segment surged to Rs 136423.91 crore from Rs 122173.77 crore on Friday, 25 May 2012. State Bank of India (SBI) May 2012 futures were at 2106.30, near spot closing of 2104. Tata Motors May 2012 futures were at 277.70, near spot closing of 277.10. Tata Steel May 2012 futures were at 410.40, near spot closing of 410.95. In the cash market, the S&P CNX Nifty jumped 65.25 points or 1.33% to settle at 4,985.65, its highest closing level since 8 May 2012. The near-month May 2012 derivatives contracts expire on Thursday, 31 May 2012.
Key benchmark indices surged as world stocks rose after opinion polls in Greece showed a lead for a party favoring the country's economic bailout in upcoming elections and amid expectations for a policy stimulus in China to support growth. China is the world's second biggest economy after the US. The 50-unit S&P CNX Nifty attained its highest closing level in almost three weeks. The barometer index, BSE Sensex, scaled its highest closing level in 2-1/2 weeks. The Sensex jumped 199.02 points or 1.23%, off about 20 point from the day's high and up about 145 points from the day's low. The market breadth was strong. All the 13 sectoral indices on BSE were in the green. The Sensex has declined 901.97 points or 5.2% in May 2012 so far (till 28 May 2012). The Sensex has gained 961.92 points or 6.22% in calendar 2012 so far (till 28 May 2012). From a 52-week low of 15,135.86 on 20 December 2011, the Sensex has risen 1,280.98 points or 8.46%. From a 52-week high of 19,131.70 on 8 July 2011, the Sensex has lost 2,714.86 points or 14.19%.