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Monday, July 02, 2012

Market Today

Finally my fears of market are stepping back from my life and hope it continue to do so. With the market going up and also prices of petrol I seriously think I should now again concentrate on markets and convert my insurance schemes into money values. Let's see what's in the market today :
Today most topped groups are of Pharmacies and Oil companies.

Tata Motors Ltd. (TTMT), the nation’s biggest truckmaker and owner of Jaguar Land Rover, dropped 1.2 percent after June sales declined. Bharti Airtel Ltd. (BHARTI), the largest mobile-phone operator, climbed 1.1 percent.
The BSE India Sensitive Index (SENSEX), or Sensex, retreated 0.2 percent to 17,403.83 at 9:54 a.m. after shuffling between gains and losses at least five times.
“Investors are taking a breather given the superb rally we had last month,” said Alex Mathews, head of research at Geojit BNP Paribas Financial Services Ltd. in Kochi. “They are waiting for some trigger which could come from more reform measures by the Prime Minister to boost economic growth.”
Indian stocks jumped the most in Asia in June on optimism Prime Minister Manmohan Singh will accelerate the government’s reform agenda after he took over the country’s Finance Ministry on June 26. Singh, who will head the ministry until a successor for Pranab Mukherjee is named, was finance minister in the 1990s, sparking an economic turnaround that now faces one of its sternest tests.

Reform Pressure

Singh’s administration has seen its agenda stymied by opposition from its own coalition allies, and last year suspended a plan to allow Wal-Mart Stores Inc. (WMT) and other foreign companies to buy majority stakes in Indian multi-brand retailers. An anti-corruption bill and proposals to allow foreign direct investment in pensions have also been shelved.
The Sensex has gained 13 percent this year and trades at 13.6 times estimated earnings. Valuations sank to a three-year low of 12.4 times on May 23 on concern slowing economic growth will hurt corporate profits. The MSCI Emerging Markets Index trades at 10 times.
Overseas investors sold a net $122.1 million of Indian stocks on June 28, paring their investment this year to $8.6 billion, according to the nation’s market regulator.

1 comment:

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