Taking stock for 02 April 2010

Taking stock for 02 April 2010

Monday, 29 March 2010

The Sensex advanced for a fourth day on Monday, March 29th, closing at its highest level in more than two years. Metal companies led the rally as commodity prices rose. Investors remained optimistic that global demand for commodities would increase as supplies continue to fall.

Tuesday, 30 March 2010

The BSE benchmark index snapped its 4-day winning streak on Tuesday, led by HDFC Bank, on concern that this month’s market gains outpaced prospects for earnings growth. IT services provider Infosys fell after the rupee reached an 18-month high against the dollar, lowering the value of its earnings overseas. Other IT services providers followed suit. The industry generates 40% of its revenue from the US.

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Wednesday, 31 March 2010

Stocks fell again on Wednesday, led by IT service providers, on concern that the stronger rupee will cut into the value of their overseas earnings.

Thursday, 01 April 2010

The benchmark index advanced the most in 2 weeks on Thursday, breaking its 2-day fall, on speculation that earnings growth and a rising economy would attract more investment in equities. Markets regulator Sebi reported that overseas investment into Indian stocks rose to a record in dollar terms on 30 March. Tata Motors advanced as the country’s manufacturing grew for a 12th straight month. BHEL also gained after posting a 40% increase in fourth-quarter profit.

Friday, 02 April 2010

Markets were closed on 02 April for Good Friday.