Monday November 23, 2009
The Sensex climbed on Monday, November 23rd for a second day, led by commodity stocks after metal and oil prices rose. Telecom shares on the other hand took a tumble on concerns that the low fee enabling number portability would make it harder for companies to retain customers. The government set the fee at Rs19. Reliance Industries gained almost three and a half percent after it said it was buying bankrupt chemicals and fuel producer LydonellBasell.
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Tuesday, November 24, 2009
The benchmark index fell for the first time in 3 days, this time after lower metal prices led commodity shares downward, and as most other Asian markets declined. Auto stocks increased on expectations that auto companies would report higher sales this month. Car sales have risen for nine consecutive months on easier borrowing and lower interest rates. Tata Motors and Mahindra and Mahindra reached 52-week highs on Tuesday.
Wednesday, November 25, 2009
The gauge advanced slightly on Wednesday. ACC led gains among cement producers, on expectations that higher prices of cement would help bridge the gap between the industry and the broader market. ACC has climbed 0.6% over the last 3 months while the Sensex has risen 9.6%. Satyam Computers plunged 11% after the CBI found that the company’s accounting fraud was 40% greater than previous estimates.
Thursday, November 26, 2009
The Sensitive Index plummeted on Thursday on a combination of news including a rising US dollar, disappointing Tata Steel results, and Dubai’s debt problems, which raised fresh concerns about the global financial system. Stocks across sectors took a hit.
Friday, November 27, 2009
Stocks took a dive on Friday, again reacting to the news of Dubai’s debt problems. Top gainers were Bharti Airtel, Hero Honda, Reliance Infrastructure, Grasim, and Tata Steel. Top losers included Jaiprakash Associates, Larsen & Toubro, Infosys, TCS, and Sterlite Industries.
Barring the Healthcare index, which increased marginally, all other sector indices, ended the day in the red.