India Market

Indian shares drop; technicals signal pain ahead

MUMBAI, May 4 - Indian shares posted on Friday their biggest daily fall since late February, on a session marked by nerves about foreign selling after India said it plans to review its tax break treaty with Mauritius and as the rupee continued to weaken.

Indian rupee rebounds; RBI intervention debated

MUMBAI, May 4 - The Indian rupee staged a late recovery on Friday that sparked debate about central bank intervention, but is still within reach of a lifetime low after posting a fifth successive week of falls on rising fears of foreign outflows.

04 May 2012

Indian shares drop on foreign selling fears

MUMBAI, May 4 - India's main indexes dropped on Friday as the country's review of a tax treaty with Mauritius and the rupee's slide to four-month lows exacerbated fears about foreign outflows.

04 May 2012

Indian shares drop on Mauritius treaty review

MUMBAI, May 4 - India's NSE Index fell to its lowest level intraday levels since Jan. 30 on Friday after Junior Finance Minister S.S. Palanimanickam said India is reviewing its tax treaty with Mauritius.

04 May 2012

MARKET EYE-Indian shares hit by Mauritius tax status review

* India's benchmark index falls 1.7 percent, while the 50-share index loses 1.8 percent after Junior Finance Minister S.S. Palanimanickam says India is reviewing its tax treaty with Mauritius. * Bulk of India's foreign investors are believed to be based in Mauritius. * ICICI bank and State Bank of India were the worst hit amongst the blue-chip stocks, with the sector also hit after the RBI's Basel III directives. * Reliance Industries falls 1.8 percent, hit as well by media reports that Ind

04 May 2012

MARKET EYE-Nifty technicals signal falls ahead

* Nifty beginning to show clear signs of lower highs. * Nifty approaching March low of 5,136, and daily close below that level could see index target 5,081, or the 50 percent retracement of December 2011 to February 2012 rally. * Next support seen at 4,951, 61.8 pct retracement of the gains. * Trading volumes have gradually come off since Nifty peak in February 2012. * Nifty's 200-day moving average, last at 5,124.64, has acted as strong support since late January. (krishna.kumar@thoms

04 May 2012

MARKET EYE-Expect $30-35 bln equity dilution from Basel III-Macquarie

* The RBI directives to meet Basel III regulations could lead to an equity dilution in banks of roughly $30-35 billion over the next five years, Macquarie says. * "Frequent dilutions will be required to support growth and also simultaneously maintain the CAR levels and capital buffers," Macquarie says. * Public banks would be especially impacted. Pension liability provisions will pull down the common equity ratio by around 50 basis points for these banks, Macquarie predicts. * View contrasts

04 May 2012

MARKET EYE-Bharat Forge gains on Jefferies' 'buy' call

* Shares in Bharat Forge gain 1.6 percent to 328.10 rupees after Jefferies initiates coverage with a "buy" rating and a target price of 441 rupees. * Jefferies analyst Govindarajan Chellappa says company is past its investment stage and will now benefit from improving asset utilisation. * The brokerage also expects improvements in Bharat's overseas subsidiaries and positive on expansion into non-auto segments. (abhishek.vishnoi@thomsonreuters.com / abhishek.vishnoi.reuters.com@reuters.net)

04 May 2012

MARKET EYE-Cipla gains; CLSA says stock will 'outperform'

* Shares in India's Cipla gain 3.1 percent to 327.35 rupees after CLSA upgrades the stock to "outperform" from "underperform", m a intaining its 12-month price target at 360 rupees. * The brokerage says it expects "strong" operating performance from Lexapro, an anxiety and depression drug, and a weaker rupee. * CLSA says nasal spray Dymista will also boost earnings as U.S. sales ramp up. * CLSA also calls Cipla's valuations "reasonable" after recent sharp falls. * Separately, Cipla has cut t

04 May 2012

REFILE-MARKET EYE-Indian shares fall; Reliance hit

(Refiles to fix formatting, with no changes to text) * India's benchmark index falls 0.22 percent, while the 50-share index loses 0.3 percent. * Banks extend fall after RBI's Basel III guidelines requirements earlier this week. * ICICI bank shares down 0.9 percent, State Bank of India down 1.64 percent. * Reliance Industries falls 0.45 percent on media reports that India's petroleum ministry has struck down its plans to recover $1.2 billion in costs before the energy major starts shari

04 May 2012
SENSEX Chart (in!sen)
NIFTY Chart (in!nsx)
BSE Mid-Cap Chart (in!BMX)

BSE Gainers

Symb Last Change Chg %
UBOI.BO 2,880.00 +2,814.50 +4,296.95
RIFI.BO 15.97 +8.36 +109.86
HIPO.BO 42.00 +6.60 +18.64
SRHH.BO 5.00 +0.59 +13.38
SALI.BO 17.45 +1.80 +11.50

BSE Losers

Symb Last Change Chg %
SRI.BO 4.99 -27.11 -84.45
BHEX.BO 6.68 -32.57 -82.98
BJST.BO 126.25 -31.50 -19.97
SCAG.BO 19.15 -3.55 -15.64
ADLB.BO 2.86 -0.50 -14.88

All Indian Indices

Data as of 6 May 2012. All quotes delayed at least 15 minutes.
Symb Index Mkt Report Time Last Chg Chg %
.NSEI Nifty 4 May 2012 5,086.85 -101.55 -1.96%
.BSEOIL BSE Oil & Gas 4 May 2012 7,737.81 -129.71 -1.65%
.BSEIT BSE IT 4 May 2012 5,733.26 -53.73 -0.93%
.BSEMET BSE Metals 4 May 2012 10,562.22 -271.68 -2.51%
.BSEFMCG BSE FMCG 4 May 2012 4,714.30 -52.49 -1.10%
.BSECG BSE Capital Goods 4 May 2012 8,908.74 -346.10 -3.74%
.BSEBANK BSE Banking 4 May 2012 11,284.03 -369.67 -3.17%
.BSEREAL BSE Realty 4 May 2012 1,627.99 -41.08 -2.46%
.BSEAUTO BSE Auto 4 May 2012 10,024.41 -184.63 -1.81%
.BSEPOWER BSE Power 4 May 2012 1,912.15 -48.20 -2.46%
.BSEHC BSE Healthcare 4 May 2012 6,802.75 +15.98 +0.24%

Markets

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Stock Search
Nikkei 9,380.25 +29.30 +0.31%
Hang Seng 21,086.00 -163.53 -0.77%
Sensex 16,831.08 -320.11 -1.87%
EUR/INR 69.969 -0.25%
USD/INR 53.470 +0.26%
GBP/INR 86.367 +0.10%
Gold 1,643.10 +8.30 +0.51%
Oil 98.52 -4.02 -4.08%
Corn 620.25 +5.75 +0.93%
Symb Last Chg % Volume
AVTC.BO 0.42 -4.55 52,627,016
CALS.BO 0.20 +0.00 14,602,178
JMSH.BO 13.58 -0.59 12,389,396
Data as of Sat May 5, 2012 9:53am IST.

Nifty Most Actives

Symb Last Chg % Volume
LAIN.NS 12.90 -2.27 46,953,732
SUZL.NS 22.05 +2.08 23,481,822
IRBI.NS 128.75 -13.99 20,180,284
Data as of Sat May 5, 2012 9:44am IST.
Symb 4 wk rating
change
Current mean
rating
CLAI.BO 4.00 to 2.50 Outperform
UCBK.NS 4.00 to 3.00 Hold
SYMP.NS 1.67 to 1.00 Buy
Symb 4 wk rating
change
Current mean
rating
SRFL.NS 1.50 to 4.00 Underperform
KRBR.NS 1.00 to 2.00 Outperform
RNBP.NS 2.00 to 3.00 Hold
Photo

Sensex falls below 17,000; technicals signal pain ahead

MUMBAI - The BSE Sensex posted on Friday its biggest daily fall since late February, on a session marked by nerves about foreign selling after India said it plans to review its tax break treaty with Mauritius and as the rupee continued to weaken.