Sensex tracks world market fall; oil & gas hit

MUMBAI: Indian stocks were trading lower on Tuesday, as world markets fell after US government data showed personal incomes declined 0.2 per cent while consumer spending rose 0.4 per cent in July. 

Oil & gas stocks were the worst hit, with the BSE index for the sector down 1.41 per cent. The other losers were realty, metals, banking, capital goods. The only sectors that were in the positive were FMCG and healthcare. 

At 9:46 am, Nifty was at 5388.40, weaker by 27.05 points or 0.50 per cent. The National Stock Exchange benchmark opened the day at 5413.55 versus the previous close of 5415.45. The 50-share index moved between 5413.70 and 5378.65. 

Sensex was down 97.01 points or 0.54 per cent at 17,935.10. The Bombay Stock Exchange sensitive index opened at 18,015.66 against Monday’s close of 18,032.11. The 30-share index saw a high of 18,015.66 versus a low of 17,907.41. 

Sensex losers included Jindal Steel (-2.14%), Reliance Industries (-2.03%), Sterlite Industries (-1.80%), DLF (-1.55%), Tata Consultancy Services (-1.33%), Wipro (-1.04%), State Bank of India (-1%), Larsen & Toubro (-0.94%), Tata Steel (-0.94%), Hindalco (-0.93%), Jaiprakash Associates (-0.93%), Hero Honda (-0.87%). 

Gainers were ITC (0.85%), Bharti Airtel (0.77%), Cipla (0.71%), Tata Motors (0.67%), Mahindra & Mahindra (0.66%), Reliance Infra (0.57%), Hindustan Unilever (0.25%), HDFC (0.16%) and Infosys Technologies (0.10%).

“Today, we expect the Indian markets to open in the red following weak global cues and could drift lower during the day. Among the indices, FMCG, IT and capital goods look weak,” said HDFC Securities in its morning note. 

Top Equities Stories Of The Day

FORTESCUE METALS FY NET PROFIT US$581M 

Iron ore miner and exporter Fortescue Metals Group Ltd. on Thursday said net profit for last fiscal year rose 14% on year to US$581 million from US$508 million previously, easily exceeding a consensus forecast of 18 analysts of US$492.54 million.

AGILE, GUANGZHOU R&F, KWG, SHIMAO TO BUY TIANJIN SITE FOR CNY7.05 BLN 

Four Hong Kong-listed mainland developers are forming a joint venture to buy a site in Tianjin for CNY7.05 billion, the companies said in a joint statement Wednesday. 

RAMSAY HEALTH CARE FY NET PROFIT UP 39% AT A$148.3M 

Ramsay Health Care Ltd., Australia's largest private hospital operator, said full-year net profit rose 39% as its offshore operations boosted the bottom line.

UPDATE: AIR NZ FULL-YEAR NORMALIZED PRETAX PROFIT NZ$137M 

Air New Zealand Ltd. Thursday posted a full-year normalized pretax net profit, although it was down slightly compared with the previous year due to what it termed turbulent times.

UPDATE: AUCKLAND AIRPORT LAST FY UNDERLYING NET PROFIT A TAD DOWN, BUT ABOVE GUIDANCE 

Auckland International Airport Ltd.'s underlying net profit for the just-ended fiscal year was slightly down at NZ$105.05 million, but beat the company's own guidance due to recovering travel demand, which should also propel its performance in the current financial year. 

CROWN SWINGS TO FY NET PROFIT; FY NORMALIZED NET PROFIT UP 2.7% 

Crown Ltd. on Thursday reported it swung to a full-year net profit of A$292.3 million from a net loss of A$1.2 billion a year before.

ALINTA ENERGY FY NET LOSS WIDENS TO A$577.5M 

Alinta Energy Group Thursday said its full net loss widened to A$577.5 million from A$167.7 million a year ago, impacted by impairment charges, as it continues to advance deleveraging plans. 

TATTS GROUP: FY NET PROFIT A$119.4M 

Tatts Group Ltd. said Thursday that full-year net profit fell 57% to A$119.4 million from A$277.4 million a year ago. 

VIRGIN BLUE: FY NET PROFIT A$21.3M, IN COMPANY GUIDANCE RANGE 

Australia's second-largest airline Virgin Blue Holdings Ltd. said Thursday net profit for the year to June 30 was A$21.3 million, compared with a loss of A$160.0 million a year ago. 

CABCHARGE AUSTRALIA FY NET DOWN 6.2% TO A$57.6M, FINAL DIVIDEND 17C 

Cabcharge Australia Ltd. said Thursday full year net profit fell 6.2% on year as businesses reined in taxi trips amid global economic jitters. 

ILUKA RESOURCES 1H NET LOSS NARROWS TO A$6.6M 

Iluka Resources Ltd. continued its 18-month losing streak in the first half of the year, reporting a net loss of A$6.6 million, compared to a A$43.6 million loss a year before. 

UPDATE: NZ OIL & GAS LOOKS FOR OVERSEAS EXPLORATION; FY NET LOSS NZ$3.3 MLN 

Oil explorer New Zealand Oil & Gas Ltd. said Thursday the company was looking to develop overseas fields as it works toward meeting its growth targets after reporting a net loss for the fiscal year ended June 30. 

NUPLEX FULL-YEAR NET PROFIT NZ$64.2 MILLION, SHARPLY HIGHER 

Nuplex Industries Ltd. reported a sharp increase in full-year net profit Thursday but remained cautious about its outlook. 

PYNE GOULD REPORTS NET PROFIT OF NZ$22M FOR 2010 FISCAL YEAR 

Financial-services company Pyne Gould Corp. on Thursday reported a sharp recovery in its results, posting a profit for the fiscal year ending June 30. 

BANK PERMATA 1ST HALF NET GAINS 62% TO IDR526.51 BLN 

PT Bank Permata said Thursday its consolidated net profit rose 62% during the first half of the year to IDR526.51 billion from IDR324.74 billion a year earlier.

  

INDOFOOD SUKSES 1H NET IDR1.41 TLN VS IDR799.74 BLN 

Food producer PT Indofood Sukses Makmur said Thursday its first-half net profit rose 76% to IDR1.41 trillion from IDR799.74 billion a year earlier, mostly because of lower cost of goods sold.

INDONESIA TO SEEK OVER IDR10 TLN COMPENSATION FROM THAILAND'S PTTEP -MIN 

Indonesia will seek over IDR10 trillion in compensation from Thailand's PTT Exploration & Production PCL for alleged damage from an oil leak last year.

News Flash

Pirmal Health Completes Divestiture of its Shareholding in PDSPL to super Religare.

Asian mkts trading weak; Hang Seng, Nikkei slip

At 7: 41 am (IST), Asian markets were trading weak. China's Shanghai Composite was down 0.62% or 16.32 points at 2,623.05.

Hong Kong's Hang Seng shed 0.62% or 129.66 points at 20,759.35.

Japan's Nikkei tumbled 1.23% or 112.54 points at 9,004.15.

Singapore's Straits Times was down 0.12% or 3.57 points at 2,922.42.

South Korea's Seoul Composite declined 0.59% or 10.47 points at 1,757.24.

Taiwan's Taiwan Weighted slipped 0.37% or 29.18 points at 7,946.75.

Financial News

India's job recruitment mkt to double

As the economy expands, India's job recruitment market is also expected to grow.

Sebi right authority to probe PW: ICAI

ICAI said Sebi is the right authority to probe allegations of irregularities against the audit firm.

Market to remain range-bound: Analysts

Dalal Street is expected to see range-bound trade this week.

Govt for every effort to control inflation: PM

Prime Minister Manmohan said the govt was making every possible effort to control 'inflation'.

Amartya Sen hits out at Facebook

Amartya Sen said he never intends to open any account at a site where it is difficult to check the 'genuineness' of a participant.

8 top cos lose over Rs 37k cr in m-cap

Eight of the country's top-ten firms lost a whopping Rs 37,000 crore.

Efforts to consolidate were resisted: Tata

Ratan Tata has said that Tata Sons did not have legal or moral right to control numerous firms in early 1990s.

Vishal Retail posts Rs 19.47 cr loss

Vishal Retail said its net loss for the quarter ended June 30, has gone down to Rs 19.47 crore.

Breaking News

Britannia Ind Eq 23cr Sales 3500cr reliable info that co.vl declare liveral Bonus ( much higher then 1:1 ).30% Appreciation in few days.

Asian markets higher early after big US gains

TOKYO: Stocks across Asia climbed early Tuesday after Wall Street opened August with a strong rally on positive indicators from around the globe.

Japan's benchmark Nikkei 225 stock average jumped 1.7 percent to 9,732.81 in early trade, and South Korea's Kospi rose 0.5 percent to 1,791.62.

Australia's S&P/ASX 200 was 0.8 percent higher at 4,578.80. Shares in Shanghai, Taiwan and New Zealand were also up.

The gains followed big climbs in U.S. shares after a string of news on Monday that eased investor concern about economic growth slowing down in the U.S., China and Europe.

This included a report out of the U.S. that manufacturing activity was better during July than the market expected, and one from Europe showing the economy on the continent was recovering faster than previously thought. European banks also reported strong earnings.

In China, investors were relieved by news economic growth was moderate enough that the government won't have to take steps to curtail it.

Some analysts, however, cautioned many traders were on vacation during the summer months, and lower activity in markets can exaggerate price swings.

Still, The Dow Jones industrial average shot up 208.44, or 2 percent, to 10,674.38, its highest close since May 13, with all 30 of its component stocks gaining on the day. The broader Standard & Poor's 500 index rose 24.26, or 2.2 percent, to 1,125.86, while the tech-heavy Nasdaq composite index rose 40.66, or 1.8 percent, to 2,295.36.

In currencies, the dollar strengthened to 86.54 yen, up from 86.46 late Monday. The euro was slightly lower at $1.3170 versus $1.3178.