Taking Stock for 13 Dec 2009

Taking Stock for 13 Dec 2009

Monday, December 7, 2009

The Sensex dropped for a second day on Monday, December 7th, led by metal companies, as commodity prices fell after the dollar climbed against the rupee.

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Tuesday, December 8, 2009

The benchmark index rose to a two-month high on Tuesday, led by auto companies, after car sales for the month of November increased the most in five years. According to the Society of Indian Automobile Manufacturers, more than 133,000 cars were sold in November, a 61% increase from a year earlier.

Steel companies, which produce the metal used to make cars, also increased for the day. Reliance Industries advanced as well, after it was reported that it was seeking financing to buy bankrupt chemicals company LydonellBasell.

Wednesday, December 9, 2009

The benchmark index fell on Wednesday, led by infrastructure-related stocks, as the government signaled it would start focusing on reducing inflation, rather than spending on infrastructure. Metal shares also fell, after prices went down on the London Metal Exchange. Maruti Suzuki rose after Volkswagon said it would buy a 20% stake in its parent company, Suzuki Motor Corporation.

Thursday, December 10, 2009

The Sensitive Index advanced on Thursday, led by telecom and infrastructure-related stocks, after the Reserve Bank said it would extend a provision allowing them to raise funds abroad for an additional year, until December 31, 2010.

Friday, December 11, 2009

Shares erased earlier gains on Friday, as IIP figures only met estimates, while investors were hoping for something higher. Top gainers were BHEL, NTPC, Infosys, ACC, and Reliance Infrastructure. Top losers included Bharti Airtel, ICICI Bank, SBI, Jaiprakash Associates, and Reliance Communications. Sector indices ended the day mixed