Taking stock for 15 Nov 2009

Taking stock for 15 Nov 2009
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First Published: Sun, Nov 15 2009. 09 09 PM IST
Updated: Sun, Nov 15 2009. 09 09 PM IST
Monday, 9 November 2009
The Sensex rose for a fourth day on Monday, Reliance Industries led the gains after a report said it was considering buying a stake in the Netherlands based company LyondellBassell Industries. Tata Steel also climbed after Prime Minister Manmohan Singh said there were clear signs that the economy was growing and that the government could begin planning a drawback of its record stimulus package. ITC gained after Morgan Stanley raised the company’s rating.
Tuesday, 10 November 2009
The BSE benchmark index fell on Tuesday, after rising 7.1% in the previous four trading sessions. Maruti Suzuki and Hindalco led the losses, after finance minister Pranab Mukerjee said domestic demand was still needed to support the economy once the government withdraws the stimulus package, indicating that domestic demand may not be as strong as thought. India’s most valuable company Reliance Industries went up after it said it had found oil in a block in Gujarat. And ICICI Bank also climbed after its rating was raised by Reliance Equities International which said the bank’s annual profit may grow 18% from fiscal 2009 to 2011.
Wednesday, 11 November 2009
The Sensitive index increased on Wednesday to a three week high led my metals producers, after metal prices rose on the London Metal Exchange and on hopes of a stronger global economic recovery. Tata Motors surged after a report by the Society of Indian Automobile Manufactures said domestic car sales increased 34%.
Thursday, 12 November 2009
The gauge slid on Thursday, on concerns that the government would pull back its stimulus package after industrial output did better than expected in September. Maruti Suzuki, one of the companies that has benefited from the injection of capital into the economy and saw its profits almost double last quarter, fell for the day. State Bank of India also retreated over three and a half percent. An RBI meeting on 27 October resulted in a tightening of India’s monetary policy. Lenders now have to invest more of their money in government bonds.
Friday, 13 November 2009
The index covered Thursday’s losses on Friday on news of the possibility of more disinvestments in PSUs, as well as the oil ministry consent to hike regulated gas prices, and on reports that the Centre for Monitoring Indian Economy has increased India’s 2010 GDP growth target from 6% to about 6.2%.
Top gainers for the week were Hero Honda, Maruti Suzuki, ONGC, TCS, and Tata Steel.
Top losers included Jaiprakash Associates, Mahindra and Mahindra, DLF, Reliance Communications, and Tata Power.
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First Published: Sun, Nov 15 2009. 09 09 PM IST
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