Financial Daily from THE HINDU group of publications
Wednesday, May 24, 2006
Markets (May 23)
BSE Sensex10822.78(+341.01)
S&P CNX Nifty3199.35 (+118)
US Dollar (Buy/Sell)45.56 (-0.03)


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MARKETS

OPEN OFFERS
Poor response to RNRL's open offer
The Anil Dhirubhai Ambani Group's open offer for Reliance Natural Resources Ltd (RNRL) fetched only 6 lakh shares representing 0.03 per cent of the expanded equity capital of the latter. The open offer closed on Monday. It had been made after ... More

INSIGHT
Market havoc
A variety of factors is said to have caused the stock market crash of May 22: the unguarded observations of the Finance Minister, Mr P. Chidambaram; the ambiguity in the definition of trader and investor in a ... More

MONDAY MAYHEM
Is there a `foreign angle'?
The Morgan Stanley Emerging Market Index has been declining since May 10, when the US Fed raised the interest rate and signalled further rise. More

Margin is a leverage that cuts both ways
Henry David Thoreau writes, "A broad margin of leisure is as beautiful in a man's life as in a book." Ah, what a luxury, that is, in times as turbulent as recent weeks! Also, margin doesn't seem to have the romantic appeal Thoreau would have us ... More

The froth, storm and the calm
Many macroeconomic variables are somewhat in turmoil, and each sudden change in value adds to the systematic risk. Waking up to these, the market in India has healthily cut prices and pushed down the P/E multiple to about 17. The quickness should ca use no surprise as changes in the perception of systematic risk always have an exponential and non-linear impact on prices, says G. RAMACHANDRAN. More

Fundamentals win over sentiment
During the past 10 days, the stock market has been witnessing a steep fall for which a whole lot of reasons have been attributed. According to some, the internal mechanics of the Indian market, such as the payments system, are more to blame ... More

REACTIONS
He lost a chunk of his savings
Advice to investors: Don't leverage, don't trade, don't punt More

STOCKS
Hindalco shines on value buying
Valuation of Hindalco Industries, which was partly affected by the global metals meltdown and partly by the dip in the overall market sentiment, bounced back on Tuesday. According to market sources, the company's loss-making copper division ... More

`Chinese property cos better off against desi peers'
Shares of Indian real estate companies had seen a bull-run in recent times, based on the huge land banks they hold. More

NSE feeds on mobile
Live Market Watch Solutions, a Bangalore-based company, has announced the launch of a software product, which enables mobile users to receive "live" feed from NSE. The product is first of its kind in India, Mr Ganesh Yala, Founder and CEO, ... More

Rama Newsprint up on capex plans
Rama Newsprint smartly recovered (by over 10 per cent at Rs 11.50 on the BSE) on the back of market talk that it is doubling its capacity soon. Market buzz also suggested that the company may announce a price increase within a month. The price ... More

TECHNICAL ANALYSIS
Bulls prevail
Bulls prevailed over the Tuesday's trading activity. However, sentiment reading of the tradable counters continues to remain bearish. Further bull pressure on Wednesday is likely to change the sentiment reading in their favour. On the contrary, ... More

STOCK MARKETS
Market recovers; Sensex closes 341 points up
Strong buying by domestic funds and institutions restores normalcy More

`Calm and order have returned'
Genuine long-term investors should stay invested says FM More

Stock market turmoil spoils the UPA party
More than the external and extraneous factors, the role of the regulatory agencies assumes importance. More

INTERVIEW
We favour stock lending: Sanjiv Shah
`If the volatility remains we get opportunities not just once' More

`No FII has complained about CBDT note'
`I think if investors stay invested, calm will return to the market' More

COMMENTARY
Index heavyweights lead recovery
More

IPOS
`IPOs not at risk; pricing may be more realistic now'
Most bids now come only on the last day or penultimate day More

Gangotri Textiles issue sails through
The follow-on public issue of Gangotri Textiles Ltd (GTL) seems to have weathered the market turbulence and sailed through with the issue being subscribed fully. The issue closed for subscription today. The company had come out with the issue ... More

Air Deccan extends offer by 3 days
The IPO of Deccan Aviation has been oversubscribed but the promoters have decided to extend the offer for another three days and reduce the low end of the price band to Rs 146 from Rs 150 to attract more subscription. The offer was scheduled to ... More

Allcargo fixes price band at Rs 625-725
Public issue opens on June 1; closes on June 6 More

CARTOON
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In Depth

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Looking back
May. 14-May. 20
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