Taking stock for 04 Oct 2009

Taking stock for 04 Oct 2009

Monday, 28 September 2009

Markets were closed on Monday, 28 September, on account of Dussehra.

Tuesday, 29 September 2009

On Tuesday, the Sensex rose the most in 2 weeks, led by IT services firms after the Tata Consultancy Services CEO said he expected sales from domestic demand to grow 20% this year. ICICI Bank rose after Bank of America increased its stock price forecast by 11%.

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Wednesday, 30 September 2009

The index surged on Wednesday to a 16 month high, led by banks after Arvind Virmani, the finance ministry’s chief economic advisor, said the economy will expand 7% this fiscal year which is higher than the prediction of 6.3% made by the deputy chairman of the Planning Commission, Montek Singh Ahluwalia. TCS also soared to it’s highest in over 2 years after it won business from the Singapore government.

Thursday, 1 October 2009

The sensitive index closed marginally higher on Thursday after swinging between gains and losses at least 27 times. Bharti Airtel went up after it called off merger talks with South Africa’s MTN group as investors were unclear on the structure of the deal. DLF rose slightly after the government cut interest rates for some mortgage loans. Both the Sensex and the Nifty gained 2.5% this week.

Friday, 02 October 2009

Markets were closed on Friday on account of Gandhi Jayanti.