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Buy Biocon

2010-09-08T12:36:00.001+05:30

Buy Biocon, Wockhardt in pharma space: Sandeep Wagle, APTART Technical Advisory Services

Sandeep Wagle, Founder & MD, APTART Technical Advisory Services, (Technical Check) in a chat with ET Now talks about pharma space.

If you could just tell us your thoughts on the pharma space, any outperformers that you come away with from there?

I would take a very stock specific view as far as pharma is concerned. I am liking Biocon. I am liking Wockhardt. Wockhardt obviously at lower levels I was liking, I would wait for a correction to 250 but I am seeing a big move in both of these stocks. I am not seeing that clarity in Dr Reddy’s or a Cipla, so you cannot talk of the pharma space as a whole. I would rather take a stock specific view and these are the two stocks I would talk of. Over the next two or three months, they can give you a 20-30% upside.

Bombay Stock Exchange

2010-09-01T12:03:00.000+05:30

The Bombay Stock Exchange or BSE as it is most popularly known is the oldest stock exchange in Asia. In terms of listed companies (4, 800 by August 2007), the Bombay Stock Exchange is the biggest in the world. Being located at the Dalal Street in Mumbai, the stock exchange enjoys the benefits of the financial capital of India. The stock exchange was established in the year 1875 as "The Native Share & Stock Brokers Association." Bombay Stock Exchange is the first stock exchange in India to obtain permanent recognition from the Government of India under the Securities Contracts (Regulation) Act, 1956. The earlier the exchange was operated as the Association of Persons, it is now incorporated under the Companies Act, 1956. In October 2007 the market capitalization of the companies listed on the BSE was US$ 1.61 trillion that have made it the largest market in the South East Asia in terms of market capitalization.

The exchange is managed professionally under the direction of its Board of Directors that is made of eminent people from the industries and commerce and headed by the Managing director and CEO. The Board formulates all the strategies and keeps an over all control on the functioning of the exchange. The policy of the exchange has been formed to ensure optimum integrality and transparency in the processes. The Bombay stock exchange has nation presence in around 417 cities and towns in India. The exchange has been providing the investors an efficient market for trading in equity, debt instruments and derivatives.

The BSE SENSEX that is also called the "BSE 30” is made of thirty scripts. The index is followed extensively in Indian capital market and it is regarded as the index of the Indian capital market. The Bombay Stock Exchange is the eminent stock exchange in India and the SENSEX of this exchange is recognized and followed all over the world. The exchange has played a pivotal role in shaping the capital market in India. The companies that are listed in the BSE index have been changed only a few times and they account for about one-fifth of the total market capitalization of the Bombay Stock Exchange. Though the SENSEX is the primary and the most widely accept index of BSE there are few indices as well, including BSE 500, BSE 100, BSE 200, BSE PSU, BSE MIDCAP, BSE SMLCAP, BSE BANKEX, BSE Tech, BSE Auto, BSE Pharma, BSE FMCG, BSE Consumer Durables and BSE Metal.

Sensex tracks world market fall; oil & gas hit

2010-08-31T10:35:00.000+05:30

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.

News Flash

2010-08-24T09:30:00.000+05:30

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

Asian mkts trading weak; Hang Seng, Nikkei slip

2010-08-24T09:23:00.000+05:30

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

2010-08-16T09:39:00.000+05:30

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

2010-08-05T12:04:00.000+05:30

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

2010-08-03T11:36:00.000+05:30

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.

Dow Theory

2010-07-23T17:10:00.000+05:30

The ideas of Charles Dow, the first editor of the Wall Street Journal, form the basis of technical analysis today.

Dow created the Industrial Average, of top blue chip stocks, and a second average of top railroad stocks (now the Transport Average). He believed that the behavior of the averages reflected the hopes and fears of the entire market. The behavior patterns that he observed apply to markets throughout the world.

Dow Theory
Three Movements

Market has a tendency to fluctuate. Markets fluctuate in more than one time frame at the same time:

There are three well defined movements in market which fit into each other.

The first is the daily variation due to local causes and the balance of buying and selling at that particular time (Ripple).
The secondary movement covers a period ranging from days to weeks, averaging probably between six to eight weeks (Wave).
The third move is the great swing covering anything from months to years, averaging between 6 to 48 months. (Tide).

Bull markets are broad upward movements of the market that may last several years, interrupted by secondary reactions. Bear markets are long declines interrupted by secondary rallies. These movements are referred to as the primary trend.
Secondary movements normally retrace from one third to two thirds of the primary trend since the previous secondary movement.
Daily fluctuations are important for short-term trading, but are unimportant in analysis of broad market movements.

Various cycles have subsequently been identified within these broad categories.