Taking stock

Taking stock
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First Published: Sun, Aug 16 2009. 05 53 PM IST
Updated: Sun, Aug 16 2009. 05 53 PM IST
New Delhi: Monday, 10 August, 2009
The Sensex fell for a third consecutive day on Monday, 10 August, 2009, on fear that poor rains would hamper an economic revival. Shares of companies who are dependent on rural demand fell heavily on the news. But IT companies gained on better than expected US jobs data, which boosted hopes of a faster recovery in the US.
Tuesday, 11 August, 2009
The markets were up on Tuesday after 3 days of losses – Mahindra and Mahindra led the gains, after losing 18% over the previous 4 days, as investors judged the market’s losses as excessive. Maruti Suzuki also climbed after losing 16% over the previous 4 trading sessions.
Wednesday, 12 August, 2009
The Sensitive index fell slightly on Wednesday, again on concerns that the poorest monsoon in 5 years would hurt agriculture and spending, and impact India’s 7% growth target. Mahindra and Mahindra and Hindustan Unilever took a hit on the news. Metal companies also took a hit after metal prices declined.
Thursday, 13 August, 2009
The markets surged almost 500 points on Thursday on news that the government’s new tax scheme could see the Securities Transaction Tax abolished and may cut corporate taxes to the lowest level on record – from about 30% to 25%. Banks and infrastructure-related stocks rallied for the day.
Friday, 14 August, 2009
Markets closed weak on Friday on profit booking after the rally of the previous trading session. Overall, both the Sensex and the Nifty ended the week in the green.
Top gainers were ONGC, Reliance Infrastructure, Reliance Industries, Sterlite Industries, and HDFC Bank.
Top losers included Jaiprakash Associates, Hindustan Unilever, NTPC, Reliance Communications, and ACC.
Sector indices ended the day mixed. The Oil and Gas, Consumer Durables, and the PSU indices were up, while Reality, FMCG, IT, Telecom and Auto led the declines in the indices.
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First Published: Sun, Aug 16 2009. 05 53 PM IST