Taking Stock for 14 February 2010

Taking Stock for 14 February 2010

Monday, 8 February 2010

The Sensex gained marginally Monday, February 8th after swinging between gains and losses at least 15 times as investors remained cautious on news of Europe’s sovereign debt issues. Stocks ended the day mixed. Franchisee of Domino’s Pizza, Jubilant Foodworks, debuted on the BSE jumping 58% on its first day of trading.

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Tuesday, 9 February 2010

Stocks rose on Tuesday as concerns that Europe’s deficit could impact a global economic recovery eased. IT services providers, which get a third of their sales from Europe climbed for the day. Cement makers also rose after reporting a 15% surge in January sales.

Wednesday, 10 February 2010

The Sensitive Index fell for the first time in 4 days on speculation that the government could withdraw its fiscal stimulus package. Larsen & Toubro, Mahindra & Mahindra and BHEL all took a hit. Tata Steel also retreated after ArcelorMittal, the world’s largest steel maker, said its Q1 profits would fall.

Thursday, 11 February 2010

The gauge advanced on Thursday after Trade Minister Anand Sharma announced that exports climbed in January. DLF rose after it announced good January sales. Infrastructure stocks and other real-estate companies followed suit. The Sensex has fallen 8.8% from its January 6th high.

Top gainers for the day were Hero Honda, Jaiprakash Associates, ICICI Bank, Mahindra & Mahindra and Reliance Industries. Top losers included Tata Power and Bharti Airtel. All sector indices ended the in the green.

Markets were closed on Friday on account of Maha Shivratri