Reports » India

US stock market, economy and companies update (May 24, 2013)

US indices have opened lower for a second session, despite the better April durables report. Note that European indices are not far off their lows, as incrementally better German and French business confidence reports spurred speculation that another ECB rate cut could be on hold for now. As of writing the DJIA is down 0.31%, the S&P500 is down 0.47% and the Nasdaq is down 0.47%.

Indian stock market daily closing report (May 24, 2013)

Indian Markets managed to end in green on Friday on account of some short covering in the markets. Tata Steel & LT were among major gainers on sensex today. Tata Steel gained more than 4% due to its better than expected fourth quarter numbers. LT gained more tha 2% due to the bargain hunting. The overall sentiments remain weak as the Global rating agency S&P retained its negative outlook on India.

Indian stock market daily morning report (May 24, 2013, Friday)

Key benchmark indices extended losses to hit fresh intraday low in mid-morning trade as weakness in Asian stocks weighed on sentiment adversely. The barometer index, the S&P BSE Sensex hit lowest level in over a week below the psychological 20,000 mark. The 50-unit CNX Nifty also hit lowest level in over a week below the psychological 6,000 mark. The index finally ended (provisional) at 19674 - down 388 points. Nifty ended down 127 points at 5,967, slipping below the 6,000 mark - for the first time since May 14, 2013.

Indian stock market and companies daily report (May 24, 2013, Friday)

The Indian markets are expected to open flat tracking flat to marginally positive opening in most of the Asian markets, with relief buying emerging after the extreme losses indices suffered the previous day. US markets ended modestly on Thursday, substantially paring intraday losses, as upbeat housing data helped offset worries about the Federal Reserve.

US stock market daily report (May 23, 2013, Thursday)

Fed induced whipsaw created undue stress on traders Thursday. Day traders and short term investors found it almost impossible to get with the trading trend. Early morning fall of major indices was followed by a sluggish, whipsaw trend that appeared to enhance the profits for brokers. Many traders scratched the trading session and pulled out of trading into the mid-day trading session.

US stock market, economy and companies update (May 23, 2013)

Global markets have been on a sleigh ride since Chairman Bernanke spoke before Congress yesterday morning. Add to Chairman's remarks the contraction seen in the May China HSBC PMI data and another BoJ emergency operation to manage JGBs and you've got an exciting market. The Nikkei plummeted 7.3%, for its biggest one-day drop since the T?hoku earthquake and tsunami in 2011, while European indices are all down 2.2% or more. As of writing, the DJIA is down 0.38%, the S&P500 is down 0.67% and the Nasdaq is off 0.36%.

Indian stock market daily morning report (May 23, 2013, Thursday)

Markets ended lower on Wednesday, amid a rangebound trading session, weighed down by profit taking in Larsen & Toubro after the company reported disappointing fourth quarter earnings. The 30-share Sensex ended at 20,062 down 49 points or 0.25% and the 50-share Nifty ended at 6,095 down by 20 points or 0.32%.

Indian stock market and companies daily report (May 23, 2013, Thursday)

The Indian markets are expected to open in red tracking flat to negative opening in most of the Asian markets, on worries the Federal Reserve could downscale its bond purchases.

US stock market daily report (May 22, 2013, Wednesday)

Saks Incorporated (SKS) shares were higher by 15% into late afternoon trading on Wednesday after reporting they retained Goldman Sachs (GS) to explore strategic alternatives. Saks flagship - its main store on Fifth Avenue in New York alone, has an estimated worth of more than $1 billion. On Tuesday, Saks Chief Executive Steve Sadove said even though demand has improved throughout Q1 as weather improved, concerns over income tax hike and fiscal issues subsided, the industry is getting promotional, prompting the company to raise its discount level during its friends and family sale during the quarter.

US stock market, economy and companies update (May 22, 2013)

It is the Fed's market this morning as traders dissect testimony by Chairman Bernanke, as well as comments by Dudley and this afternoon's FOMC minutes, for hints on the taper. Analysts question whether anything new is being said, however permutations of meaning are providing plenty of volatility. After spiking higher, equities are off their highs. As of writing, the DJIA is up 0.42%, the S&P500 is up 0.47% and the Nasdaq is up 0.31%. It is also worth noting that the Russel 2000 moved above the 1000 mark today for the first time ever.

Indian stock market daily morning report (May 22, 2013, Wednesday)

Markets ended lower on Tuesday, amid weak European cues, after profit taking in late trades was seen in autos and select bank shares. The 30-share Sensex ended down 112 points at 20,112 and the 50-share Nifty closed 43 points lower at 6,114.

Indian stock market and companies daily report (May 22, 2013, Wednesday)

The Indian markets are expected to open in green tracking marginally positive opening in most of the Asian markets, as indications that the Federal Reserve Bank wasnRs.t close to slowing its asset purchases lifted investor sentiment.

US stock market daily report (May 21, 2013, Tuesday)

Just south of Oklahoma City on Monday, deadly tornadoes clarified Tuesday by the National Weather Service as a category E5 reaching speeds of 200 mph, ripped through towns leaving a massive path of devastation and death. The path of destruction looked like a war zone as survivors and the nation moved in quickly to search for survivors. The chaos was immeasurable. Terri Watkins, a spokeswoman for the Oklahoma Department of Emergency Management, said emergency workers have found 101 survivors so far. “We don’t have injury numbers,” Watkins said. The south side of the Elementary School where classrooms were located was completely leveled, The center of the building had curled in on itself so that what looked like a corrugated steel shed was thrust in the air.

US stock market, economy and companies update (May 21, 2013)

US equities continue to trade sideways this morning as markets lack major catalysts for a second consecutive day. Traders are waiting with great anticipation for Fed Chairman Bernanke's Congressional testimony tomorrow morning, during which a definitive update on asset purchases is expected. As of writing the DJIA, S&P500 and Nasdaq are flat on the day.

Indian stock market daily morning report (May 21, 2013, Tuesday)

Markets ended marginally lower on Monday, snapping four day winning streak, weighed down by pharma shares on worries that the new price control will sharply reduce drug prices thereby impacting growth and profitability. The 30-share Sensex ended at 20,224 down 62 points or 0.31% and the 50-share Nifty ended at 6,157 down by 30 points or 0.49%.

Indian stock market and companies daily report (May 21, 2013, Tuesday)

The Indian markets are expected to open flat tracking flat to negative opening in most of the Asian markets, tracking a lackluster trading session at global indices yesterday and caution over US monetary-policy stance may lead investors to take profits.

US stock market daily report (May 20, 2013, Monday)

Yahoo! Inc. (YHOO: NASDAQ) announced on Monday, the purchase of Tumblr for $1.1 billion. The move is to expand Yahoo's user base, particularly among young people as well as translating growth into more revenue from online ads. Yahoo CEO Marissa Mayer vowed to keep Yahoo and Tumblr “focused on advertising that is as good as the content itself and is seamless with the experience,” on a conference call early Monday morning. According to Mayer on a conference call on Monday morning, “this is obviously an exception” - noting that Yahoo's most recent deals have been more in the “acqui-hire” category.

US stock market, economy and companies update (May 20, 2013)

The DJIA and the S&P500 are pretty limp this morning with trading volumes way below average, while the Nasdaq is pushing higher on news out of selected tech stocks. The Nasdaq is up 0.06%, while the DJIA and S&P500 are flat.

Indian stock market and companies daily report (May 20, 2013, Monday)

The Indian markets are expected to open in green tracking positive opening in most of the Asian markets, tracking a positive global lead after US indices notched another record finish on Friday.

US stock market daily report (May 17, 2013, Friday)

Congressional leaders on the House Ways and Means Committee, grilled Internal Revenue Service former acting commissioner Steven Miller on Friday. Committee Chairman Dave Camp said, "The reality is this is not a personnel problem. This is a problem of the IRS being too large, too powerful, too intrusive and too abusive of honest, hardworking taxpayers." The leaders had no problem coming down hard on Miller, after all - any American citizen knows very well what it is like to have the IRS come down hard on them, during an audit. Miller became aware of the 'inappropriate' conduct of the IRS in reviewing conservative groups' applications for tax-exempt status during May 2012 but, failed to notify lawmakers at that time.

US stock market, economy and companies update (May 17, 2013)

Remarkably yesterday's equity declines were the biggest losses US indices had seen in two weeks, inspired by some poor data and yet another afternoon missive from the WSJ's Hilsenrath. Friday is another story, and US equities are surging higher. As of writing the DJIA is up 0.32%, the S&P500 is up 0.37% and the Nasdaq is up 0.38%.

Indian stock market daily morning report (May 17, 2013, Friday)

Key benchmark indices extended gains to end marginally higher on Thursday, amid a range bound trading session, led by index heavyweight Reliance Industries and bank shares. The 30- share Sensex ended at 20,247 up 34 points. Nifty ended up 23 points at 6,170. Markets edged higher after a weak opening but gains were capped as profit taking was seen at higher levels after the sharp surge on Wednesday.

Indian stock market and companies daily report (May 17, 2013, Friday)

The Indian markets are expected to open flat today with a positive bias tracking positive opening in SGX Nifty which is trading higher by 0.4%. Most of the Asian markets too are trading in the green. US markets saw modest strength earlier in the session, however, came under pressure towards the close on Thursday. Investors were disappointed by the larger than expected increase in U.S. weekly jobless claims, the drop in U.S. housing starts and the weak Philly Fed data.

US stock market daily report (May 16, 2013, Thursday)

Warren Buffett’s Berkshire Hathaway Inc. (BRK.A) and (BRK.B) shares received a downgrade by Standard & Poor’s Ratings Services on Thursday. S&P dropped the firm one notch to 'AA' with a negative outlook. S&P credit analyst John Iten said, “The lower credit rating on BRK better reflects our view of BRK’s dependence on its core insurance operations for most of its dividend income. The ratings reflect our view of Berkshire’s excellent business risk profile and very strong financial risk profile, built on an extremely strong competitive position and very strong capital and earnings.”

US stock market, economy and companies update (May 16, 2013)

US equity indices are doing better than might be expected this morning after plenty of tepid data and Walmart's poor showing. As of writing, the DJIA is flat, the S&P500 is -0.1% and the Nasdaq is up 0.2%, aided by Cisco.

Indian stock market daily morning report (May 16, 2013, Thursday)

Key benchmark indices rallied to a 28-month high and the Bank Nifty shot up to a 30- month high in today's trade after RBI governor said that he has noted the fall in inflation, fuelling hopes for a further rate cut in the upcoming Policy. At the close, the Sensex was up 491 points or 2.5% at 20,213 and the Nifty gained 151 points or 2.5% at 6,147. In the broader markets, the mid cap index gained 1.6% and the small cap index added nearly 1%, both underperforming the Sensex which was up 2.5%.

Indian stock market and companies daily report (May 16, 2013, Thursday)

The Indian markets are expected to open flat today with a negative bias tracking marginally negative opening in SGX Nifty which is trading lower by 0.1%. Most of the Asian markets too are trading in the red. US market saw some volatility on Wednesday but extended the recent upward move by reaching new record highs and ended the day in positive. The better than expected housing data offset negative sentiment generated by a separate report from the Federal Reserve showing a bigger than expected drop in industrial production in April.

US stock market daily report (May 15, 2013, Wednesday)

Ahead of Google's (GOOG) developers conference known as Google I/O, shares rose over 2% to strike over $900 for the first time on Wednesday. The conference featured updates on Android, Chrome, Google Glass and possibly new devices such as smartphones and tablets. Google Says 900 million android devices activated as of now and that revenue per user for app developers in Google play store now 2.5 times what it was a year ago.

US stock market, economy and companies update (May 15, 2013)

US indices have been zigzagging towards the flatline after a rocky start this morning. The negative eurozone advanced Q1 GDP reading and the 0.1% German preliminary Q1 GDP reading showed that Europe is still struggling mightily with its problems, while the April US PPI and May Empire survey suggested US manufacturing is seeing a Spring swoon. As of writing the DJIA is up 0.17%, the S&P500 is up 0.25% and the Nasdaq is up 0.217%.

Indian stock market daily morning report (May 15, 2013, Wednesday)

Key benchmark indices closed marginally higher, with the market recovering after over 2% slide on Monday, as the latest data showing sharp fall in wholesale price inflation in April 2013 raised hopes that the RBI may further cut policy rates to perk up economic growth. The S&P BSE Sensex advanced 30.62 points or 0.16%, off close to 110 points from the day's high and up about 70 points from the day's low. The 50-unit CNX Nifty settled below the psychological 6,000 mark, having alternately swung above and below that level in intraday trade.

Indian stock market and companies daily report (May 15, 2013, Wednesday)

The Indian markets are expected to open flat today with a positive bias tracking positive opening in SGX Nifty which is trading higher by 0.45%. Most of the Asian markets too are trading in the green. The US stocks, extending the upward trend seen over the past month, moved notably higher on Tuesday despite negative sentiment generated by the news that JP Morgan (JPM) lowering its growth outlook for the Chinese economy.

US stock market daily report (May 14, 2013, Tuesday)

While breast cancer has little relevance to the financial markets, the importance of the matter, can never be undermined. Stunningly beautiful Oscar-winning actress, film director and screenwriter - Angelina Jolie announced on Tuesday, results from a BRCA test indicated she had an 87% chance of contracting breast cancer. Faced with a high risk of contracting breast cancer, Jolie concluded to undergo a double mastectomy, as a proactive, preventative measure. She also opted for full breast reconstruction. Her actions have raised awareness for cancer organizations and health care providers of not only the double mastectomy procedure but also, education on paying for the procedure.

Indian stock market daily morning report (May 14, 2013, Tuesday)

The Sensex ended down 2.14% on Monday, recording its biggest percentage fall in 14 months, as investors booked profit after sharp gains last week with ITC among the index heavyweights leading the decline. The 30-share Sensex ended at 19,692 down 431 points or 2.14% and the 50-share Nifty ended at 5,980 down by 127 points or 2.08%. The Sensex and the Nifty reached an intra-day low of 19,670 levels and 5,973 mark, respectively.

Indian stock market and companies daily report (May 13, 2013, Tuesday)

The Indian markets are expected to open flat today with a positive bias tracking positive opening in SGX Nifty which is trading higher by 0.24%. Most of the Asian markets too are trading in the green. US markets showed a lack of direction on Monday after moving modestly lower in early trading. Upbeat retail sales data released by the commerce department helped to limit the early downside. The Commerce Department said retail sales inched up by 0.1% in April following a revised 0.5% decrease in March. The modest increase in retail sales surprised economists, who had expected it to dip by 0.3%.

US stock market daily report (May 13, 2013, Monday)

On Monday, President Barack Obama referred to the alleged targeting of conservative political groups by the Internal Revenue Service “outrageous” and said if allegations are true, those responsible would be held “fully accountable”. Spokesman for Obama on Friday said the IRS’s conduct was inappropriate. During a White House news conference Monday with U.K. Prime Minister David Cameron, President Obama said: “If you’ve got the IRS operating in anything other than a neutral and nonpartisan way, that’s outrageous.”

US stock market, economy and companies update (May 13, 2013)

US equities are more or less flat this morning on sluggish trading volumes. The April retail sales data has helped offset some of the anxiety stemming from the FOMC tapering talk that dominated the conversation over the weekend. As of writing, the DJIA is -0.26%, the S&P500 is -0.14% and the Nasdaq is flat.

Indian stock market and companies daily report (May 13, 2013, Monday)

The Indian markets are expected to open flat with a positive bias tracking marginally positive opening in SGX Nifty, which is higher by 0.2%. US markets moved mostly higher on Friday, despite a relatively quiet day in terms of news. The gains on the day, resulted in the Dow and the S&P 500 reaching new record closing highs, while the Nasdaq rose to another twelve-year high. European markets too rose on Friday after companies like ArcelorMittal and BT Group Plc reported better than expected results and data showed German exports recovered as expected in March, boosting hopes of economic revival.

Indian stock market daily morning report (May 11, 2013, Saturday)

Gains in European stocks and data showing improvement in industrial production in March 2013 helped key benchmark indices score gains, with the barometer index, the S&P BSE Sensex, regaining the psychological 20,000 level. The Sensex settled at its highest level in over 14 weeks up at 143.58 points or 0.72% over previous close. Whereas, Nifty rose by 44.60 points, or 0.74 % to close at calendar year's highest level of 6,094.75.

US stock market daily report (May 10, 2013, Friday)

Carl Icahn announced on Friday, “If our board is elected, Michael Dell will not be running the company.” The pair threatened a proxy battle if the Dell board does not approve their offer. Securities & Exchange Commission released a filing with a letter sent by Icahn and Southeastern to Dell, in which the pair propose that shareholders would retain their shares and receive a choice of either $12 per share in cash or $12 worth of additional Dell stock. The offer almost immediately drew the ire of some large shareholders such as Southeastern, who argued that the company was worth more and publicly pushed for offers above $20 per share. Icahn and Southeastern claimed in their letter to represent nearly 13% of Dell’s total shares outstanding.

US stock market, economy and companies update (May 10, 2013)

US equities are mostly unchanged this morning, however the real focus has been on moves in currency markets. As of writing the DJIA is down 0.11%, the S&P500 is flat and the Nasdaq is up 0.24%.