Asia mkts rise on W-Street's advance (The Economic Times 25th Jan 2008)Asian markets rallied on Friday, taking heart from Wall Street where new economic data offered a glimmer of hope for an economy that many fear is slipping into a recession. The strong advance further lifted Asian markets from their swoon earlier this week, but traders still warned that trading would likely be volatile. Hong Kong's Hang Seng Index jumped nearly 6 percent in early trade before trimming some gains. By midmorning, it was up 1,138 points, or 4.83 percent, at 24,667 points. The index fell 2.2 percent the previous day. More
Mid-cap segment worst hit (The Economic Times 25th Jan 2008) Of late the market has made for a fickle companion, as many investors and brokers discovered. The swiftness with which the one-time ‘darlings’ of the market went out of favour is particularly evident in the mid-cap segment, the worst hit in the recent bear mauling. It took three days for the BSE midcap index to lose over 2,138 points, between January 17 and January 22. And if historical data were to serve as an barometer, it will take a while before they regain their former glory. In May 2006, it had taken 159 days or over five months for the BSE mid-cap index to recoup 950 points after it plunged from around 5,891-levels in May 2006. When these stocks again fell out of favours, tripping 1,247 points in June 2006, the index required another 85 days to crawl back to 5,212. The inference: it will be some time before investors are able to eke out profits from their investments. More
FII sales Rs 2,255cr, DII buys Rs 1,117cr (Business Standard 25th Jan 2008)Foreign institutional investors (FIIs) were net sellers of Rs 2,254.93 crore (provisional) on Thursday, according to data released by BSE. While FIIs made gross purchases of Rs 4,686.65 crore, gross sales totalled Rs 6,941.58 crore.Domestic institutional investors (DIIs) were net buyers of Rs 1,117.03 crore on Thursday. While DIIs made gross purchases of Rs 2,140.83 crore, gross sales totalled Rs 1,023.80 crore. More
PSU banks promise additional capital market exposureWithin regulatory limits set by the RBI (The Hindu Business Line 25th Jan 2008)Banks may offer loans to brokers to help them tide over a cash crunch in view of the stock market crash, provided it is within the regulatory limits of exposure to capital markets.
As per regulatory norms, banks are allowed to take exposure to the capital market up to 40 per cent of their networth. It includes the bank’s direct investment in equity, its proprietary holding, investment in equity mutual funds, and advances to brokers.
Bank of Maharashtra’s capital market exposure is around 20 per cent of its networth. Of this, direct and indirect advances account for about 11 per cent and 8-9 per cent is investment.
“We do buy stocks when we see good opportunity,” said Mr M.D. Mallya, Chairman and Managing Director, Bank of India. More
Bears hug metal stocks(The Hindu Business Line 25th Jan 2008)Metal stocks bore the brunt of Thursday’s market crash. BSE Metal index plunged 860 points to 15,081-level, the sharpest fall among all the sectoral index.
Hindustan Zinc, which recorded a 41 per cent fall in net profit to Rs 785 crore in the December quarter, dipped 10 per cent to Rs 569. The company has reduced zinc prices by 2.36 per cent to Rs 1,01,900 per tonne and lead prices by 3.27 per cent to Rs 1,12,500 per tonne. Both the price cuts are effective immediately. More
Mid-cap segment worst hit (The Economic Times 25th Jan 2008) Of late the market has made for a fickle companion, as many investors and brokers discovered. The swiftness with which the one-time ‘darlings’ of the market went out of favour is particularly evident in the mid-cap segment, the worst hit in the recent bear mauling. It took three days for the BSE midcap index to lose over 2,138 points, between January 17 and January 22. And if historical data were to serve as an barometer, it will take a while before they regain their former glory. In May 2006, it had taken 159 days or over five months for the BSE mid-cap index to recoup 950 points after it plunged from around 5,891-levels in May 2006. When these stocks again fell out of favours, tripping 1,247 points in June 2006, the index required another 85 days to crawl back to 5,212. The inference: it will be some time before investors are able to eke out profits from their investments. More
FII sales Rs 2,255cr, DII buys Rs 1,117cr (Business Standard 25th Jan 2008)Foreign institutional investors (FIIs) were net sellers of Rs 2,254.93 crore (provisional) on Thursday, according to data released by BSE. While FIIs made gross purchases of Rs 4,686.65 crore, gross sales totalled Rs 6,941.58 crore.Domestic institutional investors (DIIs) were net buyers of Rs 1,117.03 crore on Thursday. While DIIs made gross purchases of Rs 2,140.83 crore, gross sales totalled Rs 1,023.80 crore. More
PSU banks promise additional capital market exposureWithin regulatory limits set by the RBI (The Hindu Business Line 25th Jan 2008)Banks may offer loans to brokers to help them tide over a cash crunch in view of the stock market crash, provided it is within the regulatory limits of exposure to capital markets.
As per regulatory norms, banks are allowed to take exposure to the capital market up to 40 per cent of their networth. It includes the bank’s direct investment in equity, its proprietary holding, investment in equity mutual funds, and advances to brokers.
Bank of Maharashtra’s capital market exposure is around 20 per cent of its networth. Of this, direct and indirect advances account for about 11 per cent and 8-9 per cent is investment.
“We do buy stocks when we see good opportunity,” said Mr M.D. Mallya, Chairman and Managing Director, Bank of India. More
Bears hug metal stocks(The Hindu Business Line 25th Jan 2008)Metal stocks bore the brunt of Thursday’s market crash. BSE Metal index plunged 860 points to 15,081-level, the sharpest fall among all the sectoral index.
Hindustan Zinc, which recorded a 41 per cent fall in net profit to Rs 785 crore in the December quarter, dipped 10 per cent to Rs 569. The company has reduced zinc prices by 2.36 per cent to Rs 1,01,900 per tonne and lead prices by 3.27 per cent to Rs 1,12,500 per tonne. Both the price cuts are effective immediately. More
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