The Indian markets were the most volatile in the world after China and Hong Kong in 2007-08, according to market regulator Sebi.
"Equity markets witnessed unprecedented buoyancy as well as steep corrections in 2007-08. Towards the end of the year, there was steep correction in the indices on account of concerns over domestic inflation and impending global recession," Sebi said in its annual report.
The report said that the annualised volatility of the BSE benchmark
index Sensex increased to 30.6 per cent in 2007-08 from 27.6 per cent in the previous year.Similarly, the NSE Nifty recorded annualised volatility of 32.1 percent in 2007-08 compared to 28.0 per cent in the previous year.
Annualised volatility is a measure of the amount by which an underlying Index fluctuates.The BSE Sensex touched the yearly high of 21,206.77 on January 10,2008, and the lowest level of 12,425.52 on April 2, 2007, in 2007-08.The BSE Sensex and NSE Nifty appreciated by 19.7 per cent and 23.9
per cent, respectively, on March 31, 2008, over March 31, 2007.The BSE Sensex gained 2,572 points to close at 15,644 on March 31, 2008, from 13,072 on March 31, 2007. The Nifty also added 913 points to close at 4,735 at the end of March 2008 over 3,822 recorded at the end of March 2007.
India's annual return on a point-to-point basis was the fourth-highest in the world after the HERMES index of Egypt (56.3 per cent) JCI of Indonesia (33.7 per cent) and IBOV of Brazil (33.1 per cent).
Source : hindustantimes.com
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SEBI - Indian markets third-most volatile in 2007 - 2008
Reliance Power board will consider issuing free bonus shares
"Reliance Power board will consider issuing free bonus shares to all shareholders excluding the promoters," a group spokesperson said.
On the day of its listing at Rs 547.8 a share, Reliance Power performed miserably at the stock exchanges and closed the day nearly 32 per cent lower.
The IPO had attracted a total demand of about Rs 7,50,000 crore and the company had issued the shares at Rs 450 while giving a discount Rs 20 a share to retail investors.
Stock recommendations for long term investors: 2008-09
Below are some Decent Stock for Log term Investors 2008-09
Reliance Communications
Reliance Petroleum
Glenmark Pharma, Educomp solutions and Divis Lab
L&T
Reliance Industries
Welspun Gujarat
IDFC
Investors in Tata Steel (corus), Hindalco and Tata Motors (Nano) will need to wait 2-3 years to get real benefits.
Tata Chemicals, Matrix Labs, Infosys and Indian hotels are my wild bets for long term investors.
Zylog systems is a good stock among the new businesses. I have doubts over Everonn valuations.
Gateway Distriparks may bounce back at any time. It has good prospects in the logistics .
To Read more please click here >>>
Source and credit:stockmarket.india-guides.com
8 Reasons for Indian Stock Market Crash in October
RBI decision: Don’t expect positive news from RBI. Don’t be fooled by inflation data which is released on every Friday. You will know real inflation in the routine life. No government will allow raising inflation by cutting interest rate cut just before elections. RBI will definitely raise CRR and is major negative news for markets.
Negative news: When markets rose too high within a short span, single negative news will create havoc in stock markets. Markets discounted negative news like Crude rise, rupee appreciation, inflation concerns in U.S after fed rate cut and slow down in economic growth etc. How long investors will discount all these negative news?
Government policies: If mid-term polls are inevitable, Government prefers people over companies. Popular policies will slow down momentum which will negatively impact investors sentiment towards India.
Foreign Investors (FIIs): FIIs were major culprits for August crash and are going to be responsible for October crash. Just see and learn how they are cashing money from every rise?
Economic growth: There is a slow down in economic growth if you see the data but markets already discounted 2008-09 earnings especially for high growth sectors like power and capital goods.
Profit booking: Shrewd investor always book profits just before every crash whether it is in 2000 or 2006. Greedy investors always lose money in every crash. Decide yourself whether you are greedy or not?
US markets: US fed rate cut created euphoria among investors but this will actually show negative impact on the long term on credit crisis. It treated chronic disease in acute manner. Instead of curing root causes of credit concerns, it went in superficial manner which will cause inflation pressure in America and severely impact economy.
To Read more please click here >>>
Source and credit to : stockmarket.india-guides.com
Archemix withdraws IPO
WASHINGTON, Feb 6 (Reuters) - Archemix Corp on Wednesday filed with the U.S. Securities and Exchange Commission to withdraw its plans for an initial public offering, saying unfavorable market conditions would adversely affect the IPO.
The biotechnology company had planned to sell 4.5 million shares in the range of $12 to $14 each.
Bear Stearns & Co and Cowen and Co were underwriting the IPO. Archemix had planned to list its shares on the Nasdaq under the symbol "ARCH." (Reporting by Karey Wutkowski)
Please visit reuters.com for more informations.
Source and credit:- reuters.com
Emaar MGF withdraws IPO
EmaarMGF Land Ltd, a joint venture between Dubai’s Emaar Properties and India’s MGF Developments, Friday announced that it had withdrawn and postponed its initial public offering (IPO) to a later date.
The company did not mention when it would consider floating its shares again.
“Emaar MGF Land Limited has withdrawn and postponed its initial public issue to an appropriate time,” the company said in a communiqué.
“The company decided to take this step as a result of the prevailing adverse market sentiments, fuelled by renewed indications of a US recession and global meltdown,” it said.
EmaarMGF, whose IPO opened Feb 1, had to cut the offer price twice following weak response from the investors.
The price band, which was originally set at Rs.610-690 a share, was first reduced to Rs.540-630. Earlier this week, the lower end was further reduced to Rs.530 a share.
Through the IPO, the real-estate firm planned to raise $1.64 billion, down from the earlier projection of $1.8 billion.
“Given the prevailing sentiments in the capital markets, it was unclear how well the stock would trade post listing; it has been considered wiser to revisit the markets only when the demand and sentiment is stable and better providing greater value to the investor,” the statement said.
“EmaarMGF remains committed to executing its projects in hand and is well funded to ensure that this delayed IPO will not hamper its growth plans. The company expects to return to the market at a later date when sentiment and liquidity conditions are better,” it added.
The IPO had received applications worth Rs.57.79 billion, while its retail portion got over 22,5000 applicants.
To read more please visit:- freshnews.in
Source and credit:- freshnews.in
Wockhardt withdraws IPO
Volatile market claimed its first victim in the stock market Thursday when Wockhardt Hospitals Ltd quietly withdrew its Initial Public Offering (IPO).
The issue was subscribed by a mere 18 per cent on the last day of its closing Thursday. The company plans to refund the entire IPO money within 15 days.
For listing on the bourses, 90 per cent of the issue must be subscribed. Wockhardt had attempted to salvage the issue by extending the subscription closing date from Feb 5 to Feb 7.
The IPO of 25 million shares opened for subscription initially in the price band of Rs 280 to Rs 310.
To Read more please visit:- sify.com/finance
Source and Credit:- sify.com
NC’s Biolex withdraws IPO
PITTSBORO, NC—Biolex, a company focused on producing proteins hard to synthesize via the plant Lemna, a duckweed, has withdrawn its registration for an $80 million IPO, citing “unfavorable market conditions.”
The company had planned to trade on Nasdaq.
Biolex raised about $100 million in VC funding since 1997. Investors include Intersouth Partners, Johnson & Johnson Development Corp., Quaker Bioventures, Polaris Venture Partners, Investor Growth Capital, Mitusi & Co. Venture Partners, JP Morgan Securites, Easton Capital, and Dow Venture Capital.
Intersouth holds the largest stake at 20.3 percent.
Source:- techjournalsouth.com
Reliance Power Allotment, REPL IPO Allotment Status
Check Reliance Power Allotment, REPL IPO Allotment Status :-
Please Click Here
BSE Listings of 28th Jan 2008
| Code | Company | Open | High | Low | Last Price | Volume |
| 532919 | Allied Computers | 41.50 | 41.5 | 39.2 | 39.65 | 24073 |
| 532935 | Aries Agro Ltd | 156.50 | 171 | 143 | 168 | 236584 |
| 532916 | Barak Valley | 49.75 | 53.8 | 47.3 | 52.8 | 12828 |
| 532930 | BGR Energy | 646.00 | 646 | 591 | 617.2 | 31884 |
| 532929 | Brigade Enter | 324.00 | 331 | 290 | 312.6 | 87269 |
| 532931 | Burnpur Cement | 30.00 | 31 | 28 | 30.6 | 433951 |
| 532913 | Circuit Systems | 32.00 | 32.8 | 30.25 | 31.9 | 11536 |
| 532927 | eClerx Services | 323.00 | 370 | 321 | 352.4 | 44039 |
| 532922 | Edelweiss Cap | 1020.00 | 1025 | 951 | 1014 | 35605 |
| 532920 | Empee Distillers | 218.90 | 230 | 210 | 227.6 | 17186 |
| 532926 | Jyothy Labor. | 760.00 | 805 | 760 | 802.4 | 2779 |
| 532925 | Kaushalya Infra | 53.45 | 58.7 | 53.05 | 57.7 | 78095 |
| 532924 | Kolte Patil Deve | 160.00 | 181 | 152.1 | 177 | 422240 |
| 532932 | Manaksia | 97.00 | 104 | 90.9 | 101.3 | 328923 |
| 532921 | Mundra Port | 860.00 | 865 | 784 | 820.9 | 280513 |
| 532933 | Porwal Auto Comp | 36.70 | 40.8 | 35.8 | 38.95 | 264999 |
| 532934 | Precision Pipes | 90.10 | 93.4 | 85 | 91.5 | 37635 |
| 532918 | Rathi Bars | 24.60 | 25.4 | 22 | 25.2 | 33685 |
| 532915 | Religare Enter | 550.00 | 550 | 475.3 | 532.4 | 44142 |
| 532923 | Renaissance Jew | 95.00 | 99 | 94.1 | 96.8 | 14033 |
| 532928 | Transform & Rect | 560.00 | 614 | 551.1 | 596.5 | 33983 |
| 532917 | Varun Industries | 109.05 | 109 | 98.1 | 106.4 | 57917 |
Black Monday again: Biggest Ever Point Fall For Markets
It was a highly dramatic and scary day for markets as markets saw their biggest ever fall. It was the worst day of trading in our trading history as the pace of the fall was unnerving. We started weak and with heavy bouts of selling was seen during the day with Sensex and Nifty down almost 12% at one point of time. Sensex went below 17,000 mark during the course of the day and Nifty sub 5000 mark.
Sensex closed down 1,408.35 points or 7.41% at 17605.35, and the Nifty down 496.50 points or 8.70% at 5208.80.
About 213 shares have advanced, 2746 shares declined, and 22 shares are unchanged.
Before this the markets saw the second highest point fall on May 18, 2006; Sensex was down 826 pts (6.76%) on account of Government circular on taxing investment gains; heavy selling by FIIs, retail investors and a weakness in global markets.
On April 28, 1992; Sensex was down 570 pts (12.77%) on account of Harshad Mehta securities scam. On May 17, 2004; Black Monday. Sensex was down by 565 points on concerns over NDA losing election to loses BJP.
It has not only been the pressure from global peers but on the domestic front also with increased unwinding pressure the fall has been accentuated.
Even experts were a bit shaken and shocked with the nasty fall. According to Raamdeo Agarwal with global news not favourable there might be a further fall in the markets. He feels that Indian markets can't remain isolated when selling is seen in markets across globe including Asia.
Markets broke all the important technical and psychological levels.According to analyst the scenario was similar to the May 2006 fall. There is pressure due to triggering of margin call. Nifty Futures is trading at 100 points discount.
India was the worst performing market today in Asia; US recession fears have aggravated which led to Japan's Nikkei declining 3.865% or 535.35 points, Hong Kong's Hang Seng tumbled 4.425% or 1115.12 points Singapore's Straits Times slipped 3.23 and South Korea's Seoul Composite fell 2.95%.
Europe is trading extremely weak with DAX down over 3% followed by CAC and FTSE.
After seeing a sharp fall of over 15%, the BSE midcap and smallcap index closed down 10%.
Realty, metal, midcap index have collapsed, however all the BSE indices were trading with huge cuts. BSE realty and metal index were down over 13%, followed by power and oil & gas index was down over 10%. Pharma and auto were down over 7%.
Among the biggest midcap losers Nagarjuna Fert, WWIL, Oswal Chem down 33%, Essar Oil down 30% Ispat Ind was down 30%, Bajaj Hind down 28% and Chambal & Arvind down 26%.
Among the top Nifty losers RPL, REL, Bajaj Auto were down 19%, Tata Power down 16%.
The BSE Midcap Index ended at 7,881.99 down 11%.
The BSE Smallcap Index ended at 10,911.66 down 10%.
The BSE Bankex ended at 10,582.01 down 7%. ICICI Bank, Centurion Bank, HDFC Bank, Federal Bank, Canara Bank moved downwards.
The BSE Capital Goods Index closed down 7% at 17,087.82. Triveni Engg, Siemens, L&T, Thermax closed lower.
The BSE Auto Index closed at 4,664.53 down 10%. Hind Motors, Bharat Forge, Tube Investment, Maruti Suzuki, Apollo Tyres closed lower.
The BSE Metal Index closed at 14,963.38 down 13%. Among the top losers were Jindal Steel down 27%, SAIL down 13%, Tata Steel down 8%.
The BSE FMCG Index closed down 6% at 2,173.21. Colgate, ITC, Bata India, Godrej Consumer, HUL, GlaxoSmith Con closed lower
BSE Oil and Gas Index closed at 11,089.33 down 12%. RIL down 9.3%, ONGC down 7.9%. Reliance Natura, HPCL, RPL also ended in red
BSE power index closed at 3,828.81 down 11%. Torrent Power, NTPC, Reliance Energy, Tata Power, Power Grid Corp, Crompton Greave ended in red.
The BSE IT Index was down 6% at 3,573.25. I-Flex Solution, Patni Computer, Financial Tech, Mphasis, Tech Mahindra, TCS, Infosys closed lower.
The NSE cash turnover was at Rs 24508.6 crore and the NSE F&O turnover was at Rs 82241.65 crore. The BSE cash turnover was Rs 9305.91 crore. Total market wide turnover was at Rs 116056.16 crore.
Source: moneycontrol.com
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