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Taking stock for 10 January 2010

Taking stock for 10 January 2010
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First Published: Mon, Jan 11 2010. 12 48 AM IST
Updated: Mon, Jan 11 2010. 12 48 AM IST
Monday, 4 January 2010
The Sensex rose to its highest close since May 2008 led by carmakers, after sales for December climbed. Mahindra & Mahindra and Tata Motors surged over 4% after both companies reported that sales doubled in December. Tata Steel also rose after they increased prices as a result of growing demand.
Tuesday, 5 January 2010
The benchmark index extended to a 21-month high on Tuesday. Metal producers jumped, leading the gains after prices of raw materials rose and as demand continued to rise. Lenders also rose after the Prime Minister’s economic advisor C Rangarajan said a rate hike was not warranted now.
Wednesday, 6 January 2010
The sensitive index rose slightly on Wednesday, after news that India’s tax collection rose adding to the notion that the economic recovery is getting stronger. The country’s indirect tax collection for the April to December period rose 8.5% to Rs2.5 trillion while corporate tax collections surged 13.5% to Rs1.7 trillion. Companies across sectors gained on the news. IT service providers, however, fell on concern that a weakening dollar might hurt earnings.
Thursday, 7 January 2010
Stocks fell for the first time in 5 days on Thursday, led by IT service providers and pharmaceutical companies, on concerns that the weakening dollar could hurt income.
Friday, 8 January 2010
The sensitive index fell again on Friday after a volatile day of trading, with the market swinging between gains and losses at least 30 times. Top gainers were DLF, Grasim, Sun Pharma, Jaiprakash Associates, and NTPC. Top losers included Infosys, TCS, HDFC, Reliance Communications, and Maruti Suzuki. Sector indices ended the day mixed.
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First Published: Mon, Jan 11 2010. 12 48 AM IST
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