Financial Daily from THE HINDU group of publications
Friday, April 11, 2003
Markets (April 10)
BL 2501025.32 (-37.36)
BSE Sensex3035.33 (-105.92)
S&P CNX Nifty962.20 (-42.65)
Dollar (Buy/Sell)47.36/47.49
Gold Std (10 gm)5135 (+5)

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MARKETS

MUTUAL FUNDS


UTI set to launch ETF
UTI Mutual Fund is all set to launch an exchange-traded fund (ETF) based on the Nifty, subject to SEBI approval. The offer document for the proposed scheme will be filed this week. The plan is to launch the fund with an initial corpus of over Rs ... More

TECHNICAL ANALYSIS


Steep fall
THURSDAY'S trading activity witnessed stiff bear domination. Bulls were unable to make any recovery during the day's trading. The sentiment reading of the tradable counters remains strongly bearish. Irrespective of bull or bear domination on ... More

STOCK MARKETS


Infosys rattles market
A WEAKER-THAN-EXPECTED performance by technology leader Infosys, coupled with gloomier profit guidance for the year ahead, knocked the wind out of stock markets on Thursday. The "shocking" news dragged an already-depressed 30-share sensitive ... More

Infosys forecasts take its toll on stock
INFOSYS Technologies' revenue growth forecast of 21-23 per cent and per share earnings growth of 11-12 per cent has jolted the markets. The stock plummeted by Rs 1,113, or 26.7 per cent, during the day's trading. Why has the Infosys stock ... More

Tech stocks battered
TECHNOLOGY stocks suffered the steepest fall so far in a single day amidst concerns over the future earning potential of most companies due to an uncertain business environment. These concerns resulted in heavy selling pressures that had the tech ... More

Ranbaxy remains in limelight
EVEN as fears of VAT are dampening interest in pharma stocks, shares of Ranbaxy Laboratories continue to rule firm. According to brokers and analysts, given that generics account for a major chunk of the company's business, the VAT implications ... More

Heavy auction in HFCL
THE sharp rise in the stock price of Himachal Futuristic Communication Ltd (HFCL) trapped a large number of short sellers. This was seen from large auction of shares on the BSE and the NSE. On the BSE, the auction was for around 11 lakh shares ... More

DERIVATIVES MARKETS


Outlook negative on Reliance, HPCL
THE following strategies are based on Thursday's trading in the derivatives segment on the NSE: Reliance Industries: The outlook on this stock is negative. The downside price target is Rs 265. The risk is that momentum buying may push ... More

REGULATORY BODIES & RULINGS


SEBI panel moots simultaneous equity offering
A SEBI-appointed group has suggested simultaneous offering and listing of equity through public issue in domestic market and Depository Receipts (DRs) in the international market at a similar price. But the committee has suggested the offering ... More

COMMENTARY


Infosys results trigger Sensex crash
THE lower-than-expected earnings guidance issued by software bell-weather Infosys Technologies led to a domino effect among all the information technology stocks in the bourses on Thursday. The markets have been waiting with bated ... More
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