Stock Market Today

Volatile and lackluster trading was witnessed during the trading session with the indices oscillating between red and green quite a few times. The markets started on a flat note and remained in somewhat static state throughout the day. Metal, PSU, Oil & Gas and Realty indices were the main draggers in the index as all declined more than a percentage points. The Sensex closed the day with a loss of 50 points or 0.30 percentage points at 17052.54. The Nifty ended the day on the same line at 5101.50 declining by 22 points or 0.44 percentage points. Market breadth was positive with 1,043 advances against 1,780 declines. On the European frontstocks fell for a second day as European Aeronautic, Defence & Space Co. and Antofagasta Plc reported results that missed analyst estimates. Asian shares were little changed and U.S. index futures fell.

Rama Paper Mills has informed that the company is setting up a power plant of 50 MW in different phases by investing Rs 200 crores. It has been decided to raise funds to implement the Power Project by way of preferential allotment to Qualified Institutional Buyer (QIB) and to other investors.

The company has already started placing order for the necessary equipments. The company is at present getting power from the power grid at Rs 6.50 per unit. Upon completion of this project, the company will be able to get power at around Rs 3 per unit for its captive consumption.

Mahindra Forg has touched a 52 week high of Rs 145.40.

Mahindra Forg has touched an intra day high of Rs 145.40 and an intra day low of Rs 120.20.

At 15:33 hrs the share was quoting at Rs 142.10, up Rs 17.40, or 13.95%.

It was trading with volumes of 1,422,916 shares, compared to its 5-day average of 208,745 shares, an increase of 581.65%

Nikkei Stock Average 225 down 0.09 percent at 10,575.89.
KOSPI Index down 0.33 pct at 1,654.62.
Shanghai Composite Index down 0.22 pct at 3,046.48.

US Markets
US Markets ended flat on Monday.Dow Jones industrial average was down 14 points,down 0.13 percent, to 10,553. The Standard & Poor’s 500 index ended flat at 1,139. The tech-heavy Nasdaq composite index ended higher to settle 2,332

Britain’s FTSE 100 index ended up 1.31 percent up 73 points to 5,600,Germany’s DAX ended up 1.42 percent up 82 points to 5,877,France’s CAC 40 ended up 2.14 percent at 3,910.

Commodities
Crude oil was up 38 cents to trade at $81.88 a barrel.Gold settle at $1,138 an ounce.

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Asian markets were trading in green on Monday morning. China’s Shanghai Composite was up 0.34% or 10.43 points at 3,041.50. Hong Kong’s Hang Seng added 1.50% or 311.74 points at 21,099.71. Japan’s Nikkei 225 gained 1.71% or 177.28 points at 10,546.24. Singapore’s Straits Times rose 1.39% or 38.80 points at 2,829.09. South Korea’s Seoul Composite surged 1.13% or 18.39 points at 1,652.96. Taiwan’s Taiwan Weighted added 0.88% or 67.64 points at 7,733.90.

US Markets ended higher on Friday.Dow Jones industrial average was up 122 points,up 1.17 percent, to 10,566. The Standard & Poor’s 500 index ended higher at 1,139. The tech-heavy Nasdaq composite index ended higher to settle 2,326.

US stocks jumped and the Nasdaq hit an 18-month closing high on Friday as US employers cut fewer jobs than expected last month and consumers showed signs of shedding their penny-pinching ways.

The broader market got a lift from smaller-than-expected job losses, after U.S. data showed nonfarm payrolls shed 36,000 jobs in February compared with expectations in a Reuters poll for a loss of 50,000. Investors had been concerned severe winter weather that affected swaths of the country would cause a larger drop in payrolls.

The Dow Jones industrial average gained 122.06 points, or 1.17%, to end at 10,566.20. The Standard & Poor’s 500 Index added 15.73 points, or 1.40%, to 1,138.70. The Nasdaq Composite Index rose 34.04 points, or 1.48%, to 2,326.35.

The Dow and the S&P 500 closed at their highest levels in six weeks. The S&P 500 is now off only 1% from a 15-month closing high set on Jan 19, having clawed back from a drop of more than 8% through Feb.8. All three indexes are now positive for the year. For the week the Dow rose 2.3%, the Nasdaq added 3.9% and the S&P 500 climbed 3.1%.

Indian ADRs ended higher on Friday. In the IT space, Infosys and Satyam were up over 2% each at $ 59.56 and $ 5.69 respectively. Patni Computers was up 1.54% at $ 21.73 and Wipro ended up 0.94% at $ 22.62.

In the telecom space, Tata Communication surged 3.92% at $ 12.99 and MTNL was up 0.93% at $ 3.27. In the banking space, ICICI Bank gained 3.51% at $ 40.96 and HDFC Bank was up nearly 2% at $ 127.09.

In other sectors, Tata Motors advanced by 4.39% at $ 18.56. Sterlite Industries and Dr Reddy’s Labs were up 2.04% and 1.38% respectively at $ 18.01 and $ 25.66 respectively.

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Nikkei Stock Average 225 up 2.10 percent at 10,358.51.
KOSPI Index down 0.77 pct at 1,630.61.
Shanghai Composite Index down 0.44 pct at 3,036.78.

Dow Jones industrial average was up 47 points,up 0.45 percent, to 10,444. The Standard & Poor’s 500 index ended higher at 1,123. The tech-heavy Nasdaq composite index ended higher to settle 2,292.

US mkts eked out modest gains after some encouraging economic news ahead of jobs report later today; Indian ADRs ended mixed; Satyam Comp up 2.4%

The US markets eked out modest gains after some encouraging economic news ahead of the jobs report later today. Consumer stocks were the top performers on better-than-expected retail-sales reports. Earlier stocks had bobbled midmorning after a report showed an unexpected drop in pending-home sales.

Strength among financials helped the broader market shrug off a stronger dollar, which gained 0.7% against competing currencies.

At closing bell, the Dow Jones gained 47.38 or half a percent, to close at 10,444.14. The S&P 500 and Nasdaq also posted modest gains.

In key economic data to watch initial jobless claims for the week ended Feb 27 totaled 469,000, which was in-line with the consensus call. Continuing claims dropped more than expected to 4.50 million. In other economic news, pending home sales for January fell 7.6% month-over-month. A 1% monthly increase had been expected. Factory orders for January increased 1.7%, which was in stride with the 1.8% increase that had been widely expected. Retailers dominated corporate news flow with the release of February same-store sales figures, which was higher than expected.

The dollar rose versus the euro, which was pressured in the wake of the decision by both the European Central Bank and the Bank of England to keep target interest rates unchanged. The Bank of England also kept its quantitative easing measures unchanged. The dollar index is hovering around that 80 mark.

Still, the greenback’s gain hurt commodity prices. Specifically, oil futures prices fell 0.8%, however crude prices were able to hold on to the $ 80 per barrel level.

Copper prices fell for the first time in five sessions after a report showed an unexpected drop in US home-sales, spurring concern that demand from builders will remain weak. Lead, nickel, tin and zinc prices also fell. Aluminum prices however saw an up move.

Indian ADRs ended mixed on Thursday. In IT space, Satyam Computers was up 2.4% at $ 5.55, Patni Computers was up 0.14% at $ 21.4 while Infosys ended down 1.44% at $ 58.19 and Wipro ended down 0.8% at $ 22.41.

In Telecom space, MTNL was up 0.62% at $ 3.24 while Tata Communication was down 0.08% at $ 12.5. In Banking space, HDFC Bank was up 0.26% at $ 124.7 while ICICI Bank was down 1.2% at $ 39.57.

In other sectors, Tata Motors ended up 0.79% at $ 17.78 while Sterlite Industries was down 1.56% at $ 17.65 and Dr Reddy’s Labs was down 0.86% at $ 25.31.

European Markets ended higher on Wednesday.Britain’s FTSE 100 index ended up 0.90 percent up 49 points to 5,533 ,Germany’s DAX ended up 0.72 percent up 41 points to 5,818,France’s CAC 40 ended up 0.80 percent at 3,843 .

Commodities
Crude oil was up 1 cents to trade at $80.88 a barrel.Gold settle at $1,144 an ounce.