Financial Daily from THE HINDU group of publications
Wednesday, August 24, 2005
Markets (August 23)
BL 2502340.34 (-45.98)
BSE Sensex7615.99(-134.61)
S&P CNX Nifty2326.10 (-41.75)
US Dollar (Buy/Sell)43.62/43.75
Gold Std (10 gm)6285 (+35)

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MARKETS

INSIGHT


Does economy need the bull run?
The current global perception seems to be that the sustained bull-run is not due to any "irrational exuberance" but a vote of confidence in a resurgent India. But rapidly rising stock prices are neither necessary nor sufficient for boosting economic growth, says Alok Ray More

STOCKS


Reliance Capital to buy 14.96% stake in Spanco for Rs 32.2 cr
RELIANCE Capital Ltd on Tuesday announced that it would be acquiring a 14.96 per cent stake in Spanco Telesystems and Solutions Ltd for Rs 32.2 crore. Reliance Capital has agreed to subscribe to 29.80 lakh equity shares and 5.7 lakh warrants, ... More

TECHNICAL ANALYSIS


Bear domination
BEARS extended their pressure over Tuesday's trading. Their dominance left the bulls with no opportunity to recover. The sentiment reading of the tradable counters remains strongly bearish. Bull domination on Wednesday is likely to reduce the ... More

STOCK MARKETS


Sensex sheds 134 on profit-booking
IT has been the fourth consecutive day of losses at the bourses, but it may not all be over yet. Despite the fact that trading on Tuesday started confidently, profit-booking across the market led to the indices nose-diving by close of trade. ... More

Color Chips rises on valuation
COLOR Chips, a company into animation business, rose sharply on Tuesday when there was selling in most of the counters. The stock rose 17.91 per cent at Rs 23.70 on the BSE with volumes of 16.75 lakh shares; on the NSE, it closed at Rs 23.85, up ... More

Prime Property sizzles
THE Mumbai-based Prime Property Development Corporation's stock has been aiming sky in the past one month or so despite rain, flood and 5 per cent upper circuit. The BSE-listed counter has gained 159.64 per cent in just one month to create yet ... More

Patel Engg promoters offload 10% stake — Fidelity, ICICI Mutual buyers
PROMOTERS of Patel Engineering on Tuesday sold 10 per cent of the company's equity in the market. Fidelity Fund and Prudential ICICI Mutual Fund bought most of the shares sold by them. Promoters two companies - Praham Engineering Company and ... More

Internet trading of stocks yet to take off
DESPITE the boom in the stock markets, Internet trading seems to have not caught on in a big way. According to data collated by the Finance Ministry, for the period between July 1 and August 18, 2005 Web trading accounted for just 0.09 per cent ... More

INTERVIEW


`Sheer value buying may be a difficult proposition'
THAT the stock broking business is going full steam ahead is clear from the sheer number of new players it is attracting these days. The RR Financial group, hitherto known for its operations in the staid fixed-income market, is now diversifying ... More

COMMENTARY


Indices tumble on across-the-board selling
THE markets lost further ground on Tuesday with the bears taking complete charge of the bourses. The Sensex fell by 134.6 points to close at 7,615.9. With this fall, the benchmark index has lost about four per cent from the all-time highs made ... More
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