Business Standard

Markets at a glance

Related News

Higher advance tax payments for the September quarter boosted the key benchmark indices to their 16-month highs. The week also saw the Nifty briefly touch the 5,000 mark. The BSE Sensex rose 477 points or 2.9 per cent to 16,741, while the Nifty moved 147 points or 3 per cent to 4,976 during the week.

BSE Mid-Cap and Small-Cap indices outperformed broader indices, closing the week with gains of 4.22 per cent and 3.84 per cent, respectively. Positive global cues and buying by foreign funds also boosted sentiment.

What to expect this week

Trading during the week would be truncated with the markets closed on Monday. The indices are expected to be choppy in the derivative expiry week. Nevertheless, analysts expect the market to consolidate in the near-term after the up-move witnessed during the last few sessions.

Global cues could decide the direction of the domestic markets; the US Federal Reserve will meet during the week to assess the early signs of growth in the US economy. Foreign buying would help drive positive sentiments further; it was robust for the previous week with FII’s net purchases at Rs 4,984 crore for the first four days of the week.

 

Stock to watch
Allcargo Global 
Allcargo Global
Last week's close (Rs) 828.30
Prev. week's close (Rs) 809.93
Week's high (Rs) 858.98
Week's low (Rs) 797.60
Last week's ave. daily turnover (Rs cr) 1.80
Prev. week's ave. daily turnover (Rs cr) 2.39
Number of up/down move 3/2

Logistics (AGL) shares could see action this week following an investment of $23 million (Rs 110 crore) by Blackstone. This comes at the time when the slowdown in the global economy is having a negative impact on the container business.

Over half of AGL’s revenues come from Europe and US and these have been the worst affected in the slowdown. With the latest investment, Blackstone’s total commitment to the company would increase to $75 million.

Earlier, the AGL board approved the Blackstone investments whereby 1.5 million warrants will be converted into an equal number of equity shares of the company, at about Rs 934 per equity share. The stock is trading at 20 times its trailing 12 month EPS. It hit a 52 week high of Rs 920 on June 4, 2009 and a low of Rs 271 on October 31, 2008.

Read more on:   

Read More

Sensex ends at 3-week low; sentiment still weak

The Sensex fell to a three-week low on Monday after disappointing quarterly earnings hit Bank of Baroda and IDFC, while investors continued to book ...

Quick Links

 

Market News

Markets come off day's highs; TCS down 1.5%

Markets came off their day's highs in late trades amid profit taking in FMCG and private bank shares

Commodity super cycle turning downward, says RBI

In latest commodity super-cycle, inflation-adjusted prices of commodities rose 60-500% between 1999 and 2010

MCX-SXCCL seek candidates for Managing Director, CEO post

Candidate should be an MBA or CA, or post grad in economics or commerce with 15 years in capital markets, finance or management; Should be under ...

Nifty reclaims 8,000; Sensex up 200 points

Sensex is at 26,806 with a gain of 200 points while Nifty has gained 61 points and is at 8,019.

Sensex up 100 points; Rate sensitive stocks gain

The 30-share Sensex is up 100 points at 26,704 and 50-share Nifty is up 30 points at 7,989.

Back to Top