Indian Stock Market News, Analysts Picks, Views, Tips and Recommendations - 25 March 2008

Wall Street ended high last night and the Asian bourses are following it as usual. So we can expect a better day on NSE and BSE.

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Daily round-up of the Indian Stock Market News, Analysts Picks, Views, Tips and Recommendations:
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Wall St rallies on revamped Bear offer, home sales
http://economictimes.indiatimes.com/Market_News/Wall_St_rallies_on_revamped_Bear_offer/articleshow/2896735.cms

US stocks jumped on Monday after a raised buyout offer for Bear Stearns Cos Inc suggested that financial stocks may have reached bottom, especially in light of fresh data that fueled hopes for a turnaround in housing. Stocks rang up big gains for a second straight session after JPMorgan Chase & Co lifted its offer for Bear Stearns to $10 a share from $2, helping alleviate concerns that other investment banking shares could tumble.

Sensex ends up 294pts; HDFC surges 8%
http://www.business-standard.com/common/storypage_c_online.php?leftnm=10&bKeyFlag=IN&autono=34872

The Sensex opened with a positive gap of 99 points at 15,094. The index touched a high of 15,349, and a low of 15,056. Fresh buying towards the close helped the index end on a firm note at 15,289 - up 294 points.

The BSE Mid-cap index shed 2.7% (158 points) at 5,806, and the Small-cap index dropped 3.8% (272 points) to 6,950. The BSE Bankex rallied 3.3% (249 points) to 7,744. The NSE Nifty gained 36 points to finish at 4,610. The market breadth was extremely negative - out of 2,717 stocks traded, 2,149 declined, 535 advanced and 33 were unchanged today.

IIP nos key to mkts trading forward: Religare Sec
http://moneycontrol.com/india/news/market-outlook/iip-nos-key-to-mkts-trading-forward-religare-sec/07/40/331258

Global cues to drive mkts in near-term: Pranav Sec
http://moneycontrol.com/india/news/market-outlook/global-cues-to-drive-mktsnear-term-pranav-sec/07/40/331248

Mkts look weak and lack confidence: Rada Advisors
http://moneycontrol.com/india/news/market-outlook/mkts-look-weaklack-confidence-rada-advisors/07/40/331241

Mkts could see more pain: Dawnay Day AV Fin Srvcs
http://moneycontrol.com/india/news/market-outlook/mkts-could-see-more-pain-dawnay-day-av-fin-srvcs/07/40/331196

Realty collapses; Ansal Infra, Parsvnath worst hit
http://moneycontrol.com/india/news/market-edge/realty-collapses-ansal-infra-parsvnath-worst-hit/07/40/331214

Recently listed realty IPOs slip below issue price
http://moneycontrol.com/india/news/ipo-new-listings/recently-listed-realty-ipos-slip-below-issue-price/07/40/331220

Promoters see buyback opportunity in troubled times
http://economictimes.indiatimes.com/Promoters_see_buyback_opportunity/articleshow/2896758.cms

Gujarat Fluorochemicals on Monday said it will buy back up to 10%

Great Offshore and Prithvi Information have called board meetings to consider buyback proposals

Goldiam International, Patni Computers and Madras Cements have already announced their buyback plans

The Reliance Energy board approved a buyback plan involving Rs 800 crore (in the first phase) early this month

Margin financing fall may hit broking cos’ Q4 show
http://economictimes.indiatimes.com/Margin_financing_fall_may_hit_broking_cos_Q4_show/articleshow/2896767.cms

Broking fees of most firms have already plummeted in tandem with the shrinking turnover on the bourses in the past couple of months. With income from margin financing too drying up, the fourth quarter may take the shine off what otherwise has been a stellar year for most stock broking firms.

Gold, silver skid as Street sparkles

Gold’s downward journey extended for another day as stockists continued to offload stocks in the absence of any triggers. On Monday, the price of yellow metal fell briefly below Rs 12k-level in Mumbai before closing at Rs 12,005 per 10 gm. The metal had touched a historic high on March 17 when the prices reached at Rs 13,495 per 10 gm.

FIIs net buy Rs 376cr, DIIs net sell Rs 253cr

Foreign institutional investors (FIIs) were net buyers of Rs 376.13 crore (provisional) today, according to data released by BSE. While FIIs made gross purchases of Rs 2,884.39 crore, gross sales totalled Rs 2,508.26 crore.

RK
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