Financial Daily from THE HINDU group of publications
Wednesday, August 03, 2005
Markets (August 2)
BL 2502374.87 (+38.68)
BSE Sensex7756.04 (+86.59)
S&P CNX Nifty2353.65 (+35.60)
US Dollar (Buy/Sell)43.49/43.62
Gold Std (10 gm)6145 (+35)


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MARKETS

INSIGHT


Is the derivatives market model a weak link?
Share futures are most successful in India than anywhere else in the world because they are seen as a substitute for badla. The new system has to be better than the old one and not add to risk in the market. More

MUTUAL FUNDS


Fresh money inflow into tax saving funds
FRESH money seems to be creeping into tax saving funds, if the latest tally of assets under management is any indication. Serving as the obvious trigger is the new Section 80C of the Income-Tax Act, which has effectively replaced Section ... More

Magnum Taxgain leads
SBI Magnum Taxgain, which had Rs 160 crore under management on June 30, has scored over its peers in the past one year, notching up a solid 151 per cent return during the period, far ahead of the segment average of 71.54 per cent. According to ... More

STOCKS


Solvay Pharma gains on improved results
WITH improved results, Solvay Pharma gained around 7 per cent to touch Rs 498.55 on the BSE. In the quarter to June 30, 2005, the company reported 150 per cent jump in net profit at Rs 8.7 crore compared to the corresponding period last year. ... More

Aurobindo chief converts warrants
HYDERABAD: The Chairman of Aurobindo Pharma Ltd, Mr P.V. Ramaprasad Reddy, has on Tuesday converted his balance outstanding convertible share warrants of 15 lakh into 15 lakh equity shares of Rs 5 each. In a release to stock exchanges ... More

TECHNICAL ANALYSIS


Bull domination
BULLS were in total command of Tuesday's trading activity. The sentiment reading of the tradable counters stands bullish. Bear domination on Wednesday is likely to reduce the bull count by a substantial margin thereby resulting change in the ... More

STOCK MARKETS


Markets under close watch: Chidambaram
IN the backdrop of liquidity-driven steep rally in the capital market, the Finance Minister, Mr P. Chidambaram, on Tuesday assured Rajya Sabha that the price movements in the bourses were being closely monitored. He also said 731 foreign ... More

Fund buying, healthy corporate earnings continue to fuel markets
SUSTAINED fund buying and "healthy" corporate results continued to steam the market, as the benchmark indices extended their gains. The Sensex shot up to yet another all-time high of 7,762.80, before settling down at its all-time high closing ... More

Bajaj Auto gains on rival's woes?
BAJAJ Auto is flying on the bourses on dealer views that troubles at rival Honda Motorcycles and Scooters India factory in Gurgaon will lead to better sales for the company this quarter. The counter also took refuge in the view that despite the ... More

DERIVATIVES MARKETS


Outlook may turn positive for Matrix Labs
THE following strategies are based on Tuesday's trading in the derivatives segment on the NSE. Nifty: Sell August futures if it trades below 2,349. The downside target is 2,342-2,336. Place the protective stop at 2,357. The minimum ... More

FOREIGN INSTITUTIONAL INVESTORS


FII interest perks up in Bank BeEs
FOREIGN institutional investors have started buying the units of Benchmark Bank BeEs, an exchange traded fund, due to their inability to buy shares of key bank stocks, as FIIs have reached the maximum limit in major banks. There has been a sudden ... More

COMMENTARY


Pronounced rally in small, mid-cap stocks
IT was yet another day of bull run on the markets, which ended the day scaling a new high. While the large-cap stocks gathered momentum, the rally in the mid-cap and the small-cap stocks was more pronounced, which contributed to the overall ... More

IPOS


Sasken IPO price band at Rs 230-260
BANGALORE: Sasken Communication Technologies Ltd has fixed a price-band of Rs 230-260 per share for its proposed initial public offer (IPO). The company expects to raise between Rs 115-130 crore through the IPO, which would be 100 per ... More
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