Federal Bank Ltd has announced the Unaudited results for the quarter ended December 31, 2008:The results for the Quarter ended December 31, 2008The Bank has posted a net profit of Rs 2038.90 million for the quarter ended December 31, 2008 as compared to Rs 1029.20 million for the quarter ended December 31, 2007. Total Income has increased from Rs 7336.10 million for the quarter ended December 31, 2007 to Rs 10412.30 million for the quarter ended December 31, 2008.
The merger Scheme of the Bank with Cathelic Syrian Bank is in final stage. Sources now expect that the merger to be a reality shortly
Wednesday, April 29, 2009
Market ends strong; Nifty eyes 3500
The Indian stock indices ended Wednesday’s trade on a strong note. Market sentiment got a boost from gains in Europe. Traders also sought
Cashing in on your moneyKnow about stock arbitrageBetter returns: Book capital losses Plan long term portfolioto settle positions in view of April F&O series expiry and the long weekend. The Nifty ended the day at provisional 3480.00, higher by 117.65 points or 3.50 per cent from the previous close. The NSE benchmark recorded a high of 3486.40 recovering from an early low of 3366.70. The Sensex closed the day at provisional 11,414.96, higher by 413.21 points or 3.76 per cent from Tuesday’s close. The 30-share index moved between 11,430.25 and 11,091.56 during the day. The top Nifty gainers included ICICI Bank, Sterlite Industries
, Tata Power, Reliance Capital, Suzlon, Siemens, Hero Honda. The only losers among the Nifty 50 stocks were Reliance Power, Nalco, Idea Cellular and Ambuja Cements. Banking and IT stocks led the rally while healthcare stocks posted marginal gains.
Friday, April 24, 2009
SENSEX AT HIGH
Tracking volatile cues from across the globe and ahead of F&O expiry next week, Indian stocks are likely to fluctuate on Friday.
Nifty trading 7 points lower also indicates bearish sentiments. Also, on the F&O front, players have bought 3300 put indicating uncertain direction in the market. However, there are reasons for optimism which may help Nifty end in green. Firstly, Nifty spot closed above its 200-DMA which is a positive sign. Foreign institutional investors turned buyers in index futures and spot segment which is likely to lend good support to Nifty in case of any fall. Nifty futures once again ended in premium on the back of short covering Thursday. There was significant covering of short calls at 3400-3500, suggesting Nifty may move towards 3500 level.
( Economic Times dt.24.4.09)
Tracking volatile cues from across the globe and ahead of F&O expiry next week, Indian stocks are likely to fluctuate on Friday.
Nifty trading 7 points lower also indicates bearish sentiments. Also, on the F&O front, players have bought 3300 put indicating uncertain direction in the market. However, there are reasons for optimism which may help Nifty end in green. Firstly, Nifty spot closed above its 200-DMA which is a positive sign. Foreign institutional investors turned buyers in index futures and spot segment which is likely to lend good support to Nifty in case of any fall. Nifty futures once again ended in premium on the back of short covering Thursday. There was significant covering of short calls at 3400-3500, suggesting Nifty may move towards 3500 level.
( Economic Times dt.24.4.09)
Nifty near day’s high
Indian indices picked up momentum following after sentiments turned bullish with a strong opening of European markets. Rate sensitives like
realty and banks lead the rally while IT was space was subdued on account of profit booking.
At 2:10 pm, National Stock Exchange’s Nifty was at 3482.35, up 58.65 points or 1.71 per cent. The broader index touched an intra-day high of 3483.25 and low of 3402.90.
Indian indices picked up momentum following after sentiments turned bullish with a strong opening of European markets. Rate sensitives like
realty and banks lead the rally while IT was space was subdued on account of profit booking.
At 2:10 pm, National Stock Exchange’s Nifty was at 3482.35, up 58.65 points or 1.71 per cent. The broader index touched an intra-day high of 3483.25 and low of 3402.90.
Thursday, April 9, 2009
Stocks rise as US data stokes hopes
Global equities rose on Thursday in light trading ahead of the Easter holiday weekend as investors sought further signs of optimism in the
financial crisis that has hit economies from Australia to Ireland. Japan's larger-than-expected $154 billion plan to jump-start its slowing economy underpinned appetite for equities while better-than-expected figures from the US on its trade deficit and new claims from jobless US workers provided a midday boost.
Global equities rose on Thursday in light trading ahead of the Easter holiday weekend as investors sought further signs of optimism in the
financial crisis that has hit economies from Australia to Ireland. Japan's larger-than-expected $154 billion plan to jump-start its slowing economy underpinned appetite for equities while better-than-expected figures from the US on its trade deficit and new claims from jobless US workers provided a midday boost.
Monday, April 6, 2009
Thursday, April 2, 2009
World markets surge as US data boost recovery hope
World stock markets soared on Thursday, with Hong Kong's benchmark vaulting more than 7 percent, as stronger-than-expected US economic
figures boosted confidence that the world's largest economy is on the mend. A mood of optimism also pervaded the markets as leaders of the world's 20 biggest developed and developing countries met to find a way out of the economic crisis. Huge gains in Asia and a strong open in Europe followed an overnight surge on Wall Street and extended last month's rebound amid tentative signs of stabilization in the hard-hit global economy
and banking industry. In European morning trading, Britain's FTSE 100 rose 3 percent to 4,072.46, Germany's DAX surged 4.6 percent to 4,310.82 and France's CAC 40 jumped 4 percent to 2,951.75. ``There's some renewed optimism around the G-20 meeting today and the possibility there might be something structured coming out of it,'' said Richard Hunter, analyst at Hargreaves Lansdown Stockbrokers. President Barack Obama and the summit host, British Prime Minister Gordon Brown, have expressed confidence that world leaders will come up with a strong agreement to address financial regulation, growth, and troubled banks. But French President Nicolas Sarkozy and German Chancellor Angela Merkel have refused calls for more government spending, and said the meeting must take concrete steps on tougher financial regulation. Investors in Europe were also awaiting a key interest rate decision from the European Central Bank
at 1145 GMT. The bank is expected to cut its benchmark interest rate by a quarter or a half percentage point to a record low as more grim economic news emerges from the euro zone, the 16 countries that share the euro. With many economists predicting the bank won't cut further after Thursday, interest will focus on what President Jean-Claude Trichet says about other measures it could take if the economy needs more of a push. In Europe and Asia, financial and auto stocks charged higher after US home sales, manufacturing and auto data suggested the US recession may be moving closer to a bottom. Car makers BMW, DaimlerChrysler and Renault jumped 9.6 percent, 9.1 percent and 8 percent, and tire maker Michelin added 10.9 percent. In Asia, Toyota Motor Corp. and Nissan Motor Co. strengthened 5.5 percent and 14 percent on US auto figures that were less dismal than feared. Investors were encouraged after US car sales jumped by nearly 25 percent last month from February, beating the typical rise and underpinning hopes of a turnaround in the American auto market. A rebound in pending US home sales in February from a record low, as well as improving manufacturing activity, added to a growing belief the most severe global downturn in decades may be moving close to a bottom.
(Economic Times dt. 3 April 2009)
World stock markets soared on Thursday, with Hong Kong's benchmark vaulting more than 7 percent, as stronger-than-expected US economic
figures boosted confidence that the world's largest economy is on the mend. A mood of optimism also pervaded the markets as leaders of the world's 20 biggest developed and developing countries met to find a way out of the economic crisis. Huge gains in Asia and a strong open in Europe followed an overnight surge on Wall Street and extended last month's rebound amid tentative signs of stabilization in the hard-hit global economy
and banking industry. In European morning trading, Britain's FTSE 100 rose 3 percent to 4,072.46, Germany's DAX surged 4.6 percent to 4,310.82 and France's CAC 40 jumped 4 percent to 2,951.75. ``There's some renewed optimism around the G-20 meeting today and the possibility there might be something structured coming out of it,'' said Richard Hunter, analyst at Hargreaves Lansdown Stockbrokers. President Barack Obama and the summit host, British Prime Minister Gordon Brown, have expressed confidence that world leaders will come up with a strong agreement to address financial regulation, growth, and troubled banks. But French President Nicolas Sarkozy and German Chancellor Angela Merkel have refused calls for more government spending, and said the meeting must take concrete steps on tougher financial regulation. Investors in Europe were also awaiting a key interest rate decision from the European Central Bank
at 1145 GMT. The bank is expected to cut its benchmark interest rate by a quarter or a half percentage point to a record low as more grim economic news emerges from the euro zone, the 16 countries that share the euro. With many economists predicting the bank won't cut further after Thursday, interest will focus on what President Jean-Claude Trichet says about other measures it could take if the economy needs more of a push. In Europe and Asia, financial and auto stocks charged higher after US home sales, manufacturing and auto data suggested the US recession may be moving closer to a bottom. Car makers BMW, DaimlerChrysler and Renault jumped 9.6 percent, 9.1 percent and 8 percent, and tire maker Michelin added 10.9 percent. In Asia, Toyota Motor Corp. and Nissan Motor Co. strengthened 5.5 percent and 14 percent on US auto figures that were less dismal than feared. Investors were encouraged after US car sales jumped by nearly 25 percent last month from February, beating the typical rise and underpinning hopes of a turnaround in the American auto market. A rebound in pending US home sales in February from a record low, as well as improving manufacturing activity, added to a growing belief the most severe global downturn in decades may be moving close to a bottom.
(Economic Times dt. 3 April 2009)
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