Taking Stock for 19 Oct 2009

Taking Stock for 19 Oct 2009

Monday, October 12, 2009

The Sensex surged on Monday, October 12th, after industrial production numbers rose 10.4% in August -the most it has risen in 22 months. Shares across sectors rose on the news. Anil Ambani’s RNRL and Mukesh Ambani’s RIL both soared for the day. The younger Ambani brother asked his brother Mukesh Ambani to settle a gas dispute before it goes to the Supreme Court.

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Tuesday, October 13, 2009

Markets were closed on Tuesday on account of state elections.

Wednesday, October 14, 2009

Shares rose on Wednesday to a 17-month high, led by metal companies. Aluminum rose 1.1% on the London Metals Exchange. Auto companies also led the gains after the government said it would continue stimulus measures. HDFC also jumped after it announced that its profits increased 24% in the 3 months ended in September.

Thursday, October 15, 2009

The Sensitive index fell on Thursday after a 3 day winning streak led by IT Service Providers and pharmaceutical companies on concerns that a weakening dollar would hurt earnings. The rupee’s rise against the dollar makes their products more expensive abroad.

Friday, October 16, 2009

The benchmark index closed at a new 17-month high on Friday, advancing more than 127 points.

Top gainers were DLF, SBI, Jaiprakash Associates, Tata Power, and TCS. Top losers included Sterlite Industries, Mahindra and Mahindra, Tata Steel, ITC, and ACC.

Sector indices ended the day mixed. While Realty, Banking, and Oil & Gas led the gains, the Auto and Metal indices led the losses