Business Standard

Markets at a glance

S I Team  |  Mumbai 

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 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.

RECOMMENDED FOR YOU

Markets at a glance

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.

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 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.

image

LIVE MARKET

BSE

  ( %)

NSE

  ( %)

Widgets Magazine

More News

STOCK WATCH

Company Price() Chg(%)
Indbull.RealEst. 67.55 6.46
Bata India 586.05 5.75
Suzlon Energy 14.99 5.27
Castex Tech 7.19 4.96
GMR Infra. 12.61 4.91
> More on BSE Gainers
Company Price() Chg(%)
Indbull.RealEst. 67.65 6.54
Suzlon Energy 14.95 5.28
Bombay Rayon 144.95 5.04
Bata India 584.20 5.02
GMR Infra. 12.60 5.00
> More on NSE Gainers
Company Price() Chg(%)
Titagarh Wagons 91.60 -7.33
Idea Cellular 118.30 -6.52
Jindal Steel 69.90 -6.49
HCL Technologies 750.45 -6.19
CEAT 1097.70 -5.88
> More on BSE Gainers
Company Price() Chg(%)
Jindal Steel 69.80 -6.56
CEAT 1098.60 -6.39
Idea Cellular 118.55 -6.28
HCL Technologies 750.30 -6.20
JMT Auto 53.25 -5.67
> More on NSE Gainers
Widgets Magazine
Widgets Magazine
Widgets Magazine

Derivatives

Index
Instrument Type
Expiry Date
Option Type
Strike Price

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard