EIHOTEL 5th wave started this could be a pole pennant in 5th wave sl can be near 102 with immediate target 111 ,114 and over all near 124
cheers
rish
Thursday, December 07, 2006
EIHOTEL
EIHOTEL 5th wave started this could be a pole pennant in 5th wave sl can be near 102 with immediate target 111 ,114 and over all near 124
cheers
rish
Wednesday, December 06, 2006
Sensex Breaks on Through 14k… but Will the Run Last?
Just months after a May-June 2006 market meltdown to 9,000, Bombay’s Sensex index just crossed the crucial psychological 14,000 barrier for the first time ever, thanks to overwhelming strength in earnings growth from companies in IT, banking, telecom, infrastructure, construction and capital goods. This comes just months after we called for a breakthrough of the 13,000 level on optimistic predictions for the Indian economy.But, has India become the next China? Not quite yet. Still, the numbers are impressive. In fact, GDP grew at an 8.9% clip for the quarter ended June 30. If it can maintain 8% growth this year, “that would be the fourth straight year it has reached that benchmark, making it one of Asia’s fastest-growing economies after China,” according to BusinessWeek.com. India’s GDP grew at a 9.2% clip in
July-September 2006.Even better, according to Bloomberg.com, “Growth in India’s economy is benefiting from Prime Minister Manmohan Singh’s decision to increase spending on roads, ports and other infrastructure by a quarter to 992 billion rupees ($21 billion) in the year that started April 1 in a bid to attract overseas manufacturing companies and spur growth to 10 percent over a decade. That will help cut poverty in a nation where 35 percent of 1.1 billion people lives on less than $1 a day.”
But while the economic news remains positive, India could be in store for some tough times. India inflation “rose a sixth of a percentage point to nudge the central bank’s ceiling of 5.50 percent… fanning economists’ expectations of another rate hike,” according to Gulf Daily News. Worse still, “Equity and housing markets look overbought and the current account has moved sharply into deficit. Besides interest-rate hikes by the Reserve Bank of India, little is being done by the government to orchestrate a soft landing,” according to The Economist.
According MonstersAndCritics.com, Ajay Dua, secretary for the department of industrial promotion and policy, says India faces three scenarios over the next 20 years: “There’s the ‘Bolly World’ scenario, which envisions “initial economic success, but which was not sustained. At the other end of the scale was ‘Pehla Bharat’ or India First with leapfrogging infrastructure, poverty alleviation, higher incomes and increased share in world trade. In between these was the ‘Atakta Bharat’ horror, which as the name implies, saw the country literally getting stuck as governance collapsed, the economy stumbled and social inequalities widened.”
And, according to DailyIndia.com, “Starting by saying he [Ajay] was ‘not in fear’ of the first, Ajay Dua, secretary (industrial policy) in the commerce ministry, went on to admit that ‘a whole lot of action is required’ to transit to the other. He also conceded to major shortcomings in the six key areas the Pehla Bharat model was predicated on. Be it poverty alleviation, agricultural and rural development, healthcare, access to education, leapfrogging infrastructure or adequate governance, Dua admitted, ‘we are not moving fast enough.’”
While the economy, according to Dua, has doubled during the last 15 years, consumer demand grew threefold, the manufacturing sector grew by 12% and the foreign trade jumped by 8%. Agriculture (an industry upon which 60% of India’s population relies) only grew 3%. IT growth has not trickled down to the farming sector. Twenty-six percent of Indians live below poverty levels. And terrorist attacks are impacting economic growth.
Worse, while the Indian economy continues at its blistering pace, India is facing a shortage of skilled workers in all fields, “and this could hamper its economic development,” according to Minister Manmohan Singh, as quoted in the International Herald Tribune. His comments, according to the source, “run contrary to the general picture of India portrayed by the government, which prefers to promote the image of an Indian economic renaissance based on the availability of low-wage skilled workers.”
The bullish rallies in India have been quite impressive. But how much longer will they last?
Ian L. Cooper,
Founder, Early Alert Trader and Death Cross
Tuesday, December 05, 2006
The Sensex story: 1,000 to 14,000
Strong global markets and major fund and FII investments in heavyweight auto, pharma, IT and metals stocks lifted the Bombay Stock Exchange's benchmark 30-share Sensex past the magical 14,000-mark during intra-day trade on Tuesday. (See below for the timeline).
The unprecedented Bull Run started on May 6, 2003 when the Sensex was at 3,001.21 level. In took just 67 trading sessions to cross the 4,000-mark and touch 4,026.27 points on August 19, 2003.
The rally continued and the index gained another 1,000 points in 54 trading sessions to post 5,068.66 points on November 3, 2003.
Thereafter, it pierced through the 6,000 mark on January 2, 2004 in another 43 trading sessions. The market then seemed to pause for breath as it took a whopping 370 trading sessions to cross the 7,000 mark, at 7001.55 on June 20, 2005.
From 7,000-mark, the sentiment turned distinctly firm following good liquidity that played a significant role to determine the market direction and Sensex crossed 8,000-mark in just 55 trading sessions at 8,060.26 on September 8, 2005 and 54 trading days to cross 9,000-mark at 9,005.63 on November 28, 2005.
From 9K to 10K, it took just 48 trading sessions. The index crossed 10,000-mark on February 6, 2006 at 10,002.83.
From 10K to 11K, it only took 29 trading sessions.
The Bombay Stock Exchange, the oldest stock exchange in Asia, was established in 1875 as the Native Share and Stock Brokers Association at Dalal Street in Mumbai. A lot has changed since then when 318 persons became members upon paying Re 1.
In 1956, the BSE obtained permanent recognition from the Government of India -- the first stock exchange to do so -- under the Securities Contracts (Regulation) Act, 1956.
The Sensex, first compiled in 1986, is a 'Market Capitalisation-Weighted' Index of 30 component stocks representing a sample of large and financially sound companies. The BSE-Sensex is the benchmark index of the Indian capital markets.
The BSE Sensex comprises these 30 stocks: ACC, Bajaj Auto, Bharti Tele, BHEL, Cipla, Dr Reddy's, Gujarat Ambuja, Grasim, HDFC, HDFC Bank, Hero Honda, Hindalco, HLL, ICICI Bank, Infosys, ITC, L&T, Maruti, NTPC, ONGC, Ranbaxy, Reliance, Reliance Energy, Satyam, SBI, Tata Motors, Tata Power, TCS, Tata Motors and Wipro.
Following is the timeline on the rise and rise of the Sensex through Indian stock market history.
1000, July 25, 1990
On July 25, 1990, the Sensex touched the magical four-digit figure for the first time and closed at 1,001 in the wake of a good monsoon and excellent corporate results.
2000, January 15, 1992
On January 15, 1992, the Sensex crossed the 2,000-mark and closed at 2,020 followed by the liberal economic policy initiatives undertaken by the then finance minister and current Prime Minister Dr Manmohan Singh.
3000, February 29, 1992
On February 29, 1992, the Sensex surged past the 3000 mark in the wake of the market-friendly Budget announced by the then Finance Minister, Dr Manmohan Singh.
4000, March 30, 1992
On March 30, 1992, the Sensex crossed the 4,000-mark and closed at 4,091 on the expectations of a liberal export-import policy. It was then that the Harshad Mehta scam hit the markets and Sensex witnessed unabated selling.
5000, October 8, 1999
On October 8, 1999, the Sensex crossed the 5,000-mark as the BJP-led coalition won the majority in the 13th Lok Sabha election.
6000, February 11, 2000
On February 11, 2000, the infotech boom helped the Sensex to cross the 6,000-mark and hit and all time high of 6,006.
7000, June 20, 2005
On June 20, 2005, the news of the settlement between the Ambani brothers boosted investor sentiments and the scrips of RIL, Reliance Energy, Reliance Capital and IPCL made huge gains. This helped the Sensex crossed 7,000 points for the first time.
8000, September 8, 2005
On September 8, 2005, the Bombay Stock Exchange's benchmark 30-share index -- the Sensex -- crossed the 8000 level following brisk buying by foreign and domestic funds in early trading.
9000, November 28, 2005
The Sensex on November 28, 2005 crossed the magical figure of 9000 to touch 9000.32 points during mid-session at the Bombay Stock Exchange on the back of frantic buying spree by foreign institutional investors and well supported by local operators as well as retail investors.
10,000, February 7, 2006
The Sensex on February 6, 2006 touched 10,003 points during mid-session. The Sensex finally closed above the 10K-mark on February 7, 2006.
11,000, March 27, 2006
The Sensex on March 21, 2006 crossed the magical figure of 11,000 and touched a life-time peak of 11,001 points during mid-session at the Bombay Stock Exchange for the first time. However, it was on March 27, 2006 that the Sensex first closed at over 11,000 points.
12,000, April 20, 2006
The Sensex on April 20, 2006 crossed the 12,000-mark and closed at a peak of 12,040 points for the first time.
13,000, October 30, 2006
The Sensex on October 30, 2006 crossed the magical figure of 13,000 and closed at 13,024.26 points, up 117.45 points or 0.9%. It took 135 days for the Sensex to move from 12,000 to 13,000 and 123 days to move from 12,500 to 13,000.
14,000, December 5, 2006
The Sensex on December 5, 2006 crossed the magical figure of 14,000 to touch 14,028 points in early morning trade. It took 36 days for the Sensex to move from 13,000 to the 14,000 mark.
source :- rediff money
The unprecedented Bull Run started on May 6, 2003 when the Sensex was at 3,001.21 level. In took just 67 trading sessions to cross the 4,000-mark and touch 4,026.27 points on August 19, 2003.
The rally continued and the index gained another 1,000 points in 54 trading sessions to post 5,068.66 points on November 3, 2003.
Thereafter, it pierced through the 6,000 mark on January 2, 2004 in another 43 trading sessions. The market then seemed to pause for breath as it took a whopping 370 trading sessions to cross the 7,000 mark, at 7001.55 on June 20, 2005.
From 7,000-mark, the sentiment turned distinctly firm following good liquidity that played a significant role to determine the market direction and Sensex crossed 8,000-mark in just 55 trading sessions at 8,060.26 on September 8, 2005 and 54 trading days to cross 9,000-mark at 9,005.63 on November 28, 2005.
From 9K to 10K, it took just 48 trading sessions. The index crossed 10,000-mark on February 6, 2006 at 10,002.83.
From 10K to 11K, it only took 29 trading sessions.
The Bombay Stock Exchange, the oldest stock exchange in Asia, was established in 1875 as the Native Share and Stock Brokers Association at Dalal Street in Mumbai. A lot has changed since then when 318 persons became members upon paying Re 1.
In 1956, the BSE obtained permanent recognition from the Government of India -- the first stock exchange to do so -- under the Securities Contracts (Regulation) Act, 1956.
The Sensex, first compiled in 1986, is a 'Market Capitalisation-Weighted' Index of 30 component stocks representing a sample of large and financially sound companies. The BSE-Sensex is the benchmark index of the Indian capital markets.
The BSE Sensex comprises these 30 stocks: ACC, Bajaj Auto, Bharti Tele, BHEL, Cipla, Dr Reddy's, Gujarat Ambuja, Grasim, HDFC, HDFC Bank, Hero Honda, Hindalco, HLL, ICICI Bank, Infosys, ITC, L&T, Maruti, NTPC, ONGC, Ranbaxy, Reliance, Reliance Energy, Satyam, SBI, Tata Motors, Tata Power, TCS, Tata Motors and Wipro.
Following is the timeline on the rise and rise of the Sensex through Indian stock market history.
1000, July 25, 1990
On July 25, 1990, the Sensex touched the magical four-digit figure for the first time and closed at 1,001 in the wake of a good monsoon and excellent corporate results.
2000, January 15, 1992
On January 15, 1992, the Sensex crossed the 2,000-mark and closed at 2,020 followed by the liberal economic policy initiatives undertaken by the then finance minister and current Prime Minister Dr Manmohan Singh.
3000, February 29, 1992
On February 29, 1992, the Sensex surged past the 3000 mark in the wake of the market-friendly Budget announced by the then Finance Minister, Dr Manmohan Singh.
4000, March 30, 1992
On March 30, 1992, the Sensex crossed the 4,000-mark and closed at 4,091 on the expectations of a liberal export-import policy. It was then that the Harshad Mehta scam hit the markets and Sensex witnessed unabated selling.
5000, October 8, 1999
On October 8, 1999, the Sensex crossed the 5,000-mark as the BJP-led coalition won the majority in the 13th Lok Sabha election.
6000, February 11, 2000
On February 11, 2000, the infotech boom helped the Sensex to cross the 6,000-mark and hit and all time high of 6,006.
7000, June 20, 2005
On June 20, 2005, the news of the settlement between the Ambani brothers boosted investor sentiments and the scrips of RIL, Reliance Energy, Reliance Capital and IPCL made huge gains. This helped the Sensex crossed 7,000 points for the first time.
8000, September 8, 2005
On September 8, 2005, the Bombay Stock Exchange's benchmark 30-share index -- the Sensex -- crossed the 8000 level following brisk buying by foreign and domestic funds in early trading.
9000, November 28, 2005
The Sensex on November 28, 2005 crossed the magical figure of 9000 to touch 9000.32 points during mid-session at the Bombay Stock Exchange on the back of frantic buying spree by foreign institutional investors and well supported by local operators as well as retail investors.
10,000, February 7, 2006
The Sensex on February 6, 2006 touched 10,003 points during mid-session. The Sensex finally closed above the 10K-mark on February 7, 2006.
11,000, March 27, 2006
The Sensex on March 21, 2006 crossed the magical figure of 11,000 and touched a life-time peak of 11,001 points during mid-session at the Bombay Stock Exchange for the first time. However, it was on March 27, 2006 that the Sensex first closed at over 11,000 points.
12,000, April 20, 2006
The Sensex on April 20, 2006 crossed the 12,000-mark and closed at a peak of 12,040 points for the first time.
13,000, October 30, 2006
The Sensex on October 30, 2006 crossed the magical figure of 13,000 and closed at 13,024.26 points, up 117.45 points or 0.9%. It took 135 days for the Sensex to move from 12,000 to 13,000 and 123 days to move from 12,500 to 13,000.
14,000, December 5, 2006
The Sensex on December 5, 2006 crossed the magical figure of 14,000 to touch 14,028 points in early morning trade. It took 36 days for the Sensex to move from 13,000 to the 14,000 mark.
source :- rediff money
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