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Taking Stock for 21 February 2010

Taking Stock for 21 February 2010
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First Published: Mon, Feb 22 2010. 12 22 AM IST
Updated: Mon, Feb 22 2010. 12 22 AM IST
Monday, February 15, 2010
The Sensex declined on Monday, February 15 after reports that inflation had increased the most it has in 15 months. State Bank of India, Larsen & Toubro,
and Tata Power all saw a drop for the day. Bharti Airtel also plunged as investors felt its $10.7 billion bid for telecom company Zain’s African assets was too expensive.
Tuesday, February 16, 2010
The benchmark index rose on Tuesday. Metal companies advanced on speculation that demand may pick up. Bharti Airtel continued its slide on concerns of its offer to buy Zain’s Africa assets.
Wednesday, February 17, 2010
Stocks rose on Wednesday, after the governor of the Reserve Bank of India said that policy makers should focus on economic growth plans in the budget and
that targeting inflation wasn’t advisable. Banking stocks rose on the news. Tata Steel and Hindalco both soared, after their overseas business units in Europe
and North America respectively, returned to profit. Sterlite also advanced after copper reached a 3-week high on the London Metal Exchange.
Thursday, February 18, 2010
The Sensitive Index declined on Thursday, breaking a 2-day winning streak. Metal companies led the losses on concern that demand may fall as world economies
start withdrawing their stimulus packages. Reliance Industries also took a dive, on news that it may have to increase its offer price to buy LyondellBasell, a bankrupt chemicals and fuel-maker.
Friday, February 19, 2010
Shares fell on Friday on concerns that the government could withdraw stimulus measures and after the US Federal Reserve hiked the discount rate for the first time in more than 3 years.
Top gainers for the day were HDFC Bank, Maruti Suzuki, ONGC, and HDFC. Top losers included Jaiprakash Associates, DLF, Reliance Communications, Sterlite Industries, and Tata Steel. Barring the Healthcare index, all other sector indices ended the day in the red.
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First Published: Mon, Feb 22 2010. 12 22 AM IST