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Markets this week
The Sensex on Monday ended flat at 16,356 and the broader Nifty added 17 points to settle at 4,899.
Currency futures trading in three new currency pairs EURO /INR, GBP / INR and JPY / INR, introduced by NSE and MCX Stock Exchange saw good response on the inaugural day.
Combined trading volume on the two exchanges were approximately Rs 3,997.83 crore for these three new pairs alone.
The benchmark Sensex on Tuesday skid 192 points to settle lower at 16,170 and the Nifty eased 69 points to end at 4,830.
The Government plans to sell NTPC shares at Rs 201 piece and the share sale will begin on Feb 3rd and end on February 5.
The initial public offerings of DB Corp and Aqua Logistics were able to get full subscription. DB Realty's Rs 1,500-crore IPO, which closed on Tuesday, was subscribed 2.97 times. The issue which opened on Friday had a price band of 468 - 486.
The IPO of Aqua Logistics, which had extended its date of closing from January 28 to February 2 and reduced its
price band, was subscribed 1.94 times. The price band was lowered to Rs 200-225 from Rs 220-230.
Construction company, ARSS Infrastructure Projects announced on Tuesday that it will enter the capital markets with an initial public offering for Rs 103 crore. The price band has been fixed at Rs 410-450 a share. The issue will open on February 8 and will close on February 11.
The Indian bourses witnessed a smart rally on Wednesday on the back of short covering and fresh buying in bluechips by financial insititions. While the Sensex finally closed higher at 16,496 gained 332 points, the wider Nifty advanced 101 points to end at 4931.
NTPC's follow-on pubic offering (FPO) was subscribed 0.77 times on its opening day on Wednesday, with most of the bids at Rs 209 a piece. The floor price had been fixed at Rs 201 a share.
In disposing of its proceedings against NSDL in the IPO case, the SEBI board noted that it found no evidence of any lapses on the part of the depository in following its own procedures in regard to inspection and audit with respect to depository participants.
The order passed on Tuesday disposed of the ad interim exp-parte order-cum-show cause notice against NSDL made by SEBI in April 27, 2006. In the IPO scam which spanned 2003-05, a large number of fictitious demat accounts were opened and certain operators had used them to corner shares reserved for retail investors.
Markets retreated on Thursday , on concern that the Government will raise less than expected from divestments of shares to fund infrastructure. The delay of an auction of 3G mobile phone licenses that would
help fund the Government's deficit also contributed to the drop. Investors are worried over the higher fiscal deficit.
The benchmark, Sensex finally slipped 271 points to end at 16,225 and the Nifty lost 86 pointsto close at 4845.
NTPC Follow-on Public Offering gets tepid response from retail investors even on the second day of the issue, their subscription at close of day being only 0.03 times.
The NSE data showed that the 14.2 crore shares reserved for the retail participants fetched subscriptions for only 47.6 lakh shares.
The FPO as a whole was subscribed 0.79 times, up just marginally from Wednesday's 0.77 times. The shares reserved for the Qualified Institutional Buyers (QIB) were subscribed 1.5 times and High Networth Individuals (HNI) 0.07 times.
Markets slumped sharply on Friday as the credit defaults in the Eurozone countries such as Greece, Spain and Portugal had a negative effect on global equity markets. The Nifty breached the crucial 4700 mark in intra-day trading but settled at 4,718 and the Sensex finally closed 434 points lower at 15,791. All the sectoral indices and broad market indices such as BSE Mid-cap and Small-cap too ended lower.
Compiled by S Vasudevan
Podcast A Srirengarajan
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