Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: VAT Audit :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARDS :: articles on VAT and GST in India :: due date for vat payment :: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ARTICLES ON INPUT TAX CREDIT IN VAT :: form 3cd :: cpt :: Central Excise rule to resale the machines to a new company :: VAT RATES :: list of goods taxed at 4% :: empanelment :: ACCOUNTING STANDARD
 
 
« Markets »
 Why we must tweak the market-led model
 PE transactions prompt income tax queries over round tripping concerns
 Amended India-Mauritius tax treaty only covers investments in shares
 Government drops cap gains tax on startup shares held for 2 years
 Tax-free bonds regain demand in the secondary market
 Relevant Market’ Under Competition Act, 2002
 Indian markets best in terms of earnings momentum, price revision
 How India will become a common market with GST
 Broader markets outperform; Nifty holds 8,500
 Have Indian markets run ahead of fundamentals?
 Sebi mulls allowing foreign VCs in infra investment firms

SBI results spook Sensex
May, 17th 2011

The markets continue to hover around the day' slow into the last hour of trading. The Sensex is down 231 points at 18,114 and the Nifty shed 67 points at 5,431. In the broader markets, the midcap index is down 1% in line with the  Sensex while the smallcap index  lost 0.8%.

The benchmark indices had a muted opening and were trading in a sideways manner throughout most of the session, raising hopes of a relatively stable trading day after the nearly 200-pts fall (Sensex) witnessed on Monday. But the result announcement of State Bank of India proved to be ominous.Thereafter, the sensex dropped to touch the day's low of 18,097. down 339 points from the day's high.

In results that were below street expectations, the country's largest public sector bank reported an 8.9% dip in its consolidated net profit at Rs 10,684.9 crore for the year ended March 31, 2011. For the year-ago period, the net profit was Rs 11,733.8 crore. The stock has slid by nearly 8% at Rs 2412.

ONGC has plunged by 6% to Rs 280 on reports that the government has increased upstream share to 38.5% of total subsidy burden of about Rs 77922 crore for the year ended March 2011 (FY 2011).

Index heavyweight RIL is hurtling towards the 900 mark yet again, sliding by 2.4% at Rs 921.And there is no respite for auto stocks as they have been hammered on fears that rising fuel prices and interest rates may dampen demand.

The top losers among the Sensex stocks (other than the ones mentined above) are Hero Honda, Jaiprakash Associates, NTPC, ICICI Bank, Reliance Infrastructure, Tata Motors and Tata Steel losing between 1-3%

Among the gainers are Hindustan Unilever, ITC, Jindal Steel and TCS up 1% each.

The market breadth is very negative. Of the total 2832 stocks traded on the BSE, 1778 stocks have advanced while 937 declined.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Sitemap

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions