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21 Aug 2008 16:01

Dear PKK,
I donot have any blog - I am just a trader but keep a close watch on what the technicals are indicating. The blog I suggested belongs to a technical analyst of reutersindia.

More over, as a learner I used to closely watch on vfmdirect dot com. excellent site... good healthy discussions... please visit that web site.

I really had a rich rich learning experience.

Regards...

In reply to:

WILL NIFTY HIT 3600 & SENSEX TOUCH 12000

Posted by : pkk07

Hey L&T,
I have subscribed to the RSS feed of your blog and will try to have a look daily. Though I do not understand all the technicals you describe but I am a quick learner and should be up to speed soon.
Do keep posting your views on Sensex trends.
I also have a suggestion that you should start tracking Nifty too. I like it more than Sensex.

21 Aug 2008 15:57

Sir
its a computer problem ..clicked 3 times
I am trying to delete it
thanks
I also just saw it.
I like your language ..I can understand you with your language.
I appreciate your english knowledge
Regards...

In reply to:

Bullion metals register little losses

Posted by : gooody


u clown, r u the twin of the 'infy fool always', posting simultaneously monotonous identical messages......

21 Aug 2008 15:57

Though international crude prices have come down, government might increase the petroleaum prices because this being an election year govt might not get another chance to increase the prices closer to the elections.Without left parties in the way , govt might not miss this golden opportunity....

In reply to:

Will there be another round of petrol, diesel price hike, given oil cos\' losses?

Posted by : MMB Messenger

Dear Boarders,Do let us know your views and opinions on the poll.-MMB Messenger

21 Aug 2008 15:54

As crude started its upward journey again,there is no other option for govt except to increase the prices of petrol or diesel in coming weeks.... oil economics in india is being worsen by day by day with the continuation of subsidies.... govt frequently put special committe on oil matters,but never follows their suggestions.......

In reply to:

Will there be another round of petrol, diesel price hike, given oil cos\' losses?

Posted by : MMB Messenger

Dear Boarders,Do let us know your views and opinions on the poll.-MMB Messenger

21 Aug 2008 15:49

Good gains for today huh! guess HDIL gave you back all your losses?
Well, i\\`m putting a pause on trading or investments for a short while as i have been adviced to do so by friends (Punters), for now, Nifty may have a very sharp rally to 5200 before we enter a full blown bear market, but not sure of when it will start, but it is in cards now, thought of sharing it with you. Be careful while taking Short Positions.
Regards...

In reply to:

Can Nifty sustain above 4600 this week?

Posted by : Karthikn

Went short on HDIL..Waiting for it to break 311.
Regards

21 Aug 2008 15:47

If UPA coalition wants another term, they must be away from this issue, at least for the time being....

In reply to:

Will there be another round of petrol, diesel price hike, given oil cos\' losses?

Posted by : MMB Messenger

Dear Boarders,Do let us know your views and opinions on the poll.-MMB Messenger

21 Aug 2008 15:28

What goes down will certainly go up again . Pick as much blue chips now , infact its shopping time...

In reply to:

Mkts slip further; SBI, NTPC, HDFC Bank top losers

Posted by : MMB Messenger

Markets have slipped further as selling continued in banking, realty, power, technology, capital goods and oil stocks. Weak Asian cues fueled to negative sentiments. Midcap and small cap stocks also under pressure. Market breadth is weak; about 1193 shares have advanced while 1572 shares declined. Nearly 400 shares are unchanged.

21 Aug 2008 15:28


u clown, r u the twin of the 'infy fool always', posting simultaneously monotonous identical messages.........

In reply to:

Bullion metals register little losses

Posted by : zoombusiness

Strong dollar and pressured crude help drag down bullion metals


After rising for two successive days, gold and silver prices fell today, Wednesday, 20 August, 2008 as the dollar remained quite strong. Pressure on crude prices following the weekly inventory report by the Energy Department also put pressure on the bullion metals easing their appeal as a hedge against inflation. Barring previous two days, and one day in between, gold and silver prices had registered losses in all the trading sessions in the current month of August, 2008. Silver prices also fell today.

Today, Comex Gold for December delivery fell $0.5 (0.05%) to close at $816.3 ounce on the New York Mercantile Exchange. It fell to an intra day low price of $806.4 earlier. Last week, the yellow metal gave up 8.4%. With today’s loss, it has lost 11.35% in August, 2008 till date. On 17 March, 2008 prices had skyrocketed to a high of $1,034/ounce. But prices have dropped significantly (21%) since then.

This year, gold prices have lost 2.6% till date as the dollar rallied against the euro. It has lost almost $105 in August till now. Gold ended July, 2008 lower by $11 (1.1%).

Prior to that, the yellow metal ended second quarter with a marginal gain of 0.7%. It ended June, 2008 with a gain of 4.1%. In May, it ended with a gain of higher by $22.5 (2.5%). Before May, in April, prices closed lower by 6.3%. For first quarter prices gained 10.7%. In January, prices gained 11%, the highest monthly gain since April 2006. For February, it gained 6%. But in March, prices succumbed and fell by 5.5%.

On Wednesday, Comex silver futures for September delivery fell 6.5 cents (0.5%) to $13.153 an ounce. With today’s rise silver has lost almost 11.5% in 2008 till date. Last week, it gave up 16.4%. It ended July 2008 with a gain of 3%. For the second quarter, it had gained a paltry 1.4%. Silver had gained 16% in Q1. The metal also had gained for seven straight years.

Gold and silver prices have dropped 21% and 36% from their all time highs that they reached earlier this year.

Generally, a stronger dollar pressures demand for dollar-denominated commodities, such as crude oil and gold, which become more expensive for holders of other currencies. On the other hand, a lower dollar pushes up precious metal prices as their demand lessens as it becomes cheaper for traders holding other currencies. Gold has traditionally been used as a safe-haven asset against rising inflation. Investor sentiments are boosted by the fact that gold and silver are alternate sources of good investment in the face of declining dollar and rising energy prices and vice versa.

At the currency markets on Wednesday, the dollar gained as much as 0.7% against the euro after losing almost that amount in the previous two days. Worries about growth outside the U.S. allowed the dollar to rebound on Wednesday, sending the euro back toward six-month lows against the greenback and lifting the U.S. unit against most major counterparts. The dollar index, which measures the greenback against a trade-weighted basket of currencies, rose to 76.92 from 76.746 in the previous day.

At the crude market on Wednesday, crude oil rose marginally after a government report showed that U.S. crude inventories rose market highest weekly gain in almost seven years. Crude oil for September delivery rose 45 cents (0.4%) to settle at $114.98 a barrel.

As per the weekly report issued by the Energy Information Administration (EIA) wing of the Energy Department, crude supplies rose by 9.4 million barrels to 305.9 million for the week ended 15 August, 2008. Market was expecting a build up of just 1 million barrels. Refinery utilization was at 85.7% compared with 85.9% of capacity a week earlier. EIA also reported that motor gasoline supplies fell by 6.2 million barrels to 196.6 million barrels during the week. Distillate stocks were up 500,000 barrels at 132.1 million barrels. The gasoline decrease was almost twice the expected decrease.

Gold had witnessed the greatest annual gain in twenty eight years by gaining $200/ounce (31%) in FY 2007 as lower interest rates had sent the dollar tumbling, and crude-oil prices rose to a record. Silver had climbed 16% in FY 2007. In 2006, silver had jumped 46% while gold gained 23%.

At the MCX, gold prices for October delivery closed higher by Rs 3 (0.02%) at Rs 11,572 per 10 grams. Prices rose to a high of Rs 11,807 per 10 grams and fell to a low of Rs 11,465 per 10 grams during the day’s trading.

At the MCX, silver prices for September delivery closed Rs 20 (0.1%) higher at Rs 19,692/Kg. Prices opened at Rs 20,260/kg and rose to a high of Rs 20,391/Kg during the day’s trading.
-CM

21 Aug 2008 15:27

BSE Realty index was down 3.96% to 5,001.35 and was the biggest casualty among the sectoral indices on BSE in today\'s market fall.

DLF (down 4.88% to Rs 485), Unitech (down 4.35% to Rs 161.80), and Indiabulls Real Estate (down 5.83% to Rs 297.35), were the key losers from the realty pack.

All the sectoral indices on BSE edged lower except the BSE Consumer Durables index. The BSE Consumer Durables index was up 0.30% to 3,806.17

The Bankex (down 3.60% at 6,685.79), BSE Power (down 2.49% to 2,593.88), BSE Metal index (down 1.37% to 12,304.80), BSE Capital Goods index (down 2.17% at 12,002.69), underperformed Sensex.

BSE Auto (down 0.75% at 3,829.42), BSE Oil & Gas index (down 1.70% to 9,862.11), BSE PSU index (down 2.93% to 6,771.32), BSE FMCG index (down 0.74% to 2,145.69), BSE IT index (down 1.22% to 3,855.56), BSE TecK index (down 1.61% to 2,999.25), and BSE Health Care index (down 1.12% at 4,287.97), outperformed Sensex.

...

21 Aug 2008 15:26

Golden chance - Buy Balasore alloys. 435 percent profit year on year. Now at support level. Year end will trade at 80-90 levels.. GEM of a Stock........

21 Aug 2008 15:22

ystay nifty 4300 PUT was Rs 30 only.. seeing the bearish technicals i thought what a mouth watering price.. and see its value is up 150% today... you could have more than doubled ur money... so who still says ALEX makes money selling his books?? If his student could have doubled her money today what about Alex the lord himself especially in US markets which follow technicals perfectly.... so give technicals at least a 50% chance if not 100% chance!!!...

In reply to:

21st August

Posted by : radhika_nandlal

NIFTY: TRIN is oversold inspite of the rally which is bearish. ADX and MACD totally bearish on the NIFTY. In fact MACD shows sell divergence. However, the Elder Ray Bull power and bear power favor the bulls. All traders dont use the same indicators or the same time frame so who knows what markets will do. This is just a view.

DOW: TRIN is neutral in keeping with the small gains. Elder Ray bear power has declined favoring the bulls. The MACD and ADX are bearish.

CRUDE: Bullish. The MACD fast line just crossed above the slow line. Caution.

21 Aug 2008 15:18

Strong dollar and pressured crude help drag down bullion metals


After rising for two successive days, gold and silver prices fell today, Wednesday, 20 August, 2008 as the dollar remained quite strong. Pressure on crude prices following the weekly inventory report by the Energy Department also put pressure on the bullion metals easing their appeal as a hedge against inflation. Barring previous two days, and one day in between, gold and silver prices had registered losses in all the trading sessions in the current month of August, 2008. Silver prices also fell today.

Today, Comex Gold for December delivery fell $0.5 (0.05%) to close at $816.3 ounce on the New York Mercantile Exchange. It fell to an intra day low price of $806.4 earlier. Last week, the yellow metal gave up 8.4%. With today’s loss, it has lost 11.35% in August, 2008 till date. On 17 March, 2008 prices had skyrocketed to a high of $1,034/ounce. But prices have dropped significantly (21%) since then.

This year, gold prices have lost 2.6% till date as the dollar rallied against the euro. It has lost almost $105 in August till now. Gold ended July, 2008 lower by $11 (1.1%).

Prior to that, the yellow metal ended second quarter with a marginal gain of 0.7%. It ended June, 2008 with a gain of 4.1%. In May, it ended with a gain of higher by $22.5 (2.5%). Before May, in April, prices closed lower by 6.3%. For first quarter prices gained 10.7%. In January, prices gained 11%, the highest monthly gain since April 2006. For February, it gained 6%. But in March, prices succumbed and fell by 5.5%.

On Wednesday, Comex silver futures for September delivery fell 6.5 cents (0.5%) to $13.153 an ounce. With today’s rise silver has lost almost 11.5% in 2008 till date. Last week, it gave up 16.4%. It ended July 2008 with a gain of 3%. For the second quarter, it had gained a paltry 1.4%. Silver had gained 16% in Q1. The metal also had gained for seven straight years.

Gold and silver prices have dropped 21% and 36% from their all time highs that they reached earlier this year.

Generally, a stronger dollar pressures demand for dollar-denominated commodities, such as crude oil and gold, which become more expensive for holders of other currencies. On the other hand, a lower dollar pushes up precious metal prices as their demand lessens as it becomes cheaper for traders holding other currencies. Gold has traditionally been used as a safe-haven asset against rising inflation. Investor sentiments are boosted by the fact that gold and silver are alternate sources of good investment in the face of declining dollar and rising energy prices and vice versa.

At the currency markets on Wednesday, the dollar gained as much as 0.7% against the euro after losing almost that amount in the previous two days. Worries about growth outside the U.S. allowed the dollar to rebound on Wednesday, sending the euro back toward six-month lows against the greenback and lifting the U.S. unit against most major counterparts. The dollar index, which measures the greenback against a trade-weighted basket of currencies, rose to 76.92 from 76.746 in the previous day.

At the crude market on Wednesday, crude oil rose marginally after a government report showed that U.S. crude inventories rose market highest weekly gain in almost seven years. Crude oil for September delivery rose 45 cents (0.4%) to settle at $114.98 a barrel.

As per the weekly report issued by the Energy Information Administration (EIA) wing of the Energy Department, crude supplies rose by 9.4 million barrels to 305.9 million for the week ended 15 August, 2008. Market was expecting a build up of just 1 million barrels. Refinery utilization was at 85.7% compared with 85.9% of capacity a week earlier. EIA also reported that motor gasoline supplies fell by 6.2 million barrels to 196.6 million barrels during the week. Distillate stocks were up 500,000 barrels at 132.1 million barrels. The gasoline decrease was almost twice the expected decrease.

Gold had witnessed the greatest annual gain in twenty eight years by gaining $200/ounce (31%) in FY 2007 as lower interest rates had sent the dollar tumbling, and crude-oil prices rose to a record. Silver had climbed 16% in FY 2007. In 2006, silver had jumped 46% while gold gained 23%.

At the MCX, gold prices for October delivery closed higher by Rs 3 (0.02%) at Rs 11,572 per 10 grams. Prices rose to a high of Rs 11,807 per 10 grams and fell to a low of Rs 11,465 per 10 grams during the day’s trading.

At the MCX, silver prices for September delivery closed Rs 20 (0.1%) higher at Rs 19,692/Kg. Prices opened at Rs 20,260/kg and rose to a high of Rs 20,391/Kg during the day’s trading.
-CM
...

21 Aug 2008 15:18

Strong dollar and pressured crude help drag down bullion metals


After rising for two successive days, gold and silver prices fell today, Wednesday, 20 August, 2008 as the dollar remained quite strong. Pressure on crude prices following the weekly inventory report by the Energy Department also put pressure on the bullion metals easing their appeal as a hedge against inflation. Barring previous two days, and one day in between, gold and silver prices had registered losses in all the trading sessions in the current month of August, 2008. Silver prices also fell today.

Today, Comex Gold for December delivery fell $0.5 (0.05%) to close at $816.3 ounce on the New York Mercantile Exchange. It fell to an intra day low price of $806.4 earlier. Last week, the yellow metal gave up 8.4%. With today’s loss, it has lost 11.35% in August, 2008 till date. On 17 March, 2008 prices had skyrocketed to a high of $1,034/ounce. But prices have dropped significantly (21%) since then.

This year, gold prices have lost 2.6% till date as the dollar rallied against the euro. It has lost almost $105 in August till now. Gold ended July, 2008 lower by $11 (1.1%).

Prior to that, the yellow metal ended second quarter with a marginal gain of 0.7%. It ended June, 2008 with a gain of 4.1%. In May, it ended with a gain of higher by $22.5 (2.5%). Before May, in April, prices closed lower by 6.3%. For first quarter prices gained 10.7%. In January, prices gained 11%, the highest monthly gain since April 2006. For February, it gained 6%. But in March, prices succumbed and fell by 5.5%.

On Wednesday, Comex silver futures for September delivery fell 6.5 cents (0.5%) to $13.153 an ounce. With today’s rise silver has lost almost 11.5% in 2008 till date. Last week, it gave up 16.4%. It ended July 2008 with a gain of 3%. For the second quarter, it had gained a paltry 1.4%. Silver had gained 16% in Q1. The metal also had gained for seven straight years.

Gold and silver prices have dropped 21% and 36% from their all time highs that they reached earlier this year.

Generally, a stronger dollar pressures demand for dollar-denominated commodities, such as crude oil and gold, which become more expensive for holders of other currencies. On the other hand, a lower dollar pushes up precious metal prices as their demand lessens as it becomes cheaper for traders holding other currencies. Gold has traditionally been used as a safe-haven asset against rising inflation. Investor sentiments are boosted by the fact that gold and silver are alternate sources of good investment in the face of declining dollar and rising energy prices and vice versa.

At the currency markets on Wednesday, the dollar gained as much as 0.7% against the euro after losing almost that amount in the previous two days. Worries about growth outside the U.S. allowed the dollar to rebound on Wednesday, sending the euro back toward six-month lows against the greenback and lifting the U.S. unit against most major counterparts. The dollar index, which measures the greenback against a trade-weighted basket of currencies, rose to 76.92 from 76.746 in the previous day.

At the crude market on Wednesday, crude oil rose marginally after a government report showed that U.S. crude inventories rose market highest weekly gain in almost seven years. Crude oil for September delivery rose 45 cents (0.4%) to settle at $114.98 a barrel.

As per the weekly report issued by the Energy Information Administration (EIA) wing of the Energy Department, crude supplies rose by 9.4 million barrels to 305.9 million for the week ended 15 August, 2008. Market was expecting a build up of just 1 million barrels. Refinery utilization was at 85.7% compared with 85.9% of capacity a week earlier. EIA also reported that motor gasoline supplies fell by 6.2 million barrels to 196.6 million barrels during the week. Distillate stocks were up 500,000 barrels at 132.1 million barrels. The gasoline decrease was almost twice the expected decrease.

Gold had witnessed the greatest annual gain in twenty eight years by gaining $200/ounce (31%) in FY 2007 as lower interest rates had sent the dollar tumbling, and crude-oil prices rose to a record. Silver had climbed 16% in FY 2007. In 2006, silver had jumped 46% while gold gained 23%.

At the MCX, gold prices for October delivery closed higher by Rs 3 (0.02%) at Rs 11,572 per 10 grams. Prices rose to a high of Rs 11,807 per 10 grams and fell to a low of Rs 11,465 per 10 grams during the day’s trading.

At the MCX, silver prices for September delivery closed Rs 20 (0.1%) higher at Rs 19,692/Kg. Prices opened at Rs 20,260/kg and rose to a high of Rs 20,391/Kg during the day’s trading.
-CM
...

21 Aug 2008 15:16


infy_fool_always

there is no doubt that u r a fool-fan, as you keep posting the same message umpteen times simultaneously........

In reply to:

TCS, Infosys and Wipro to Outpace Current Indian ITeS Vendors, Says Gartner

Posted by : Infy_fan_always

Gartner in its recently announced report has observed that Tata Consultancy Services, Infosys Technologies and Wipro Technologies will emerge as the next generation IT service megavendors. Observations in the report which refers to these companies as ‘India-3’ indicate that these companies are increasingly being considered for strategic service deals, and will augment or, in some cases, replace the current acknowledged megavendors by revenue namely, IBM Global Services, Accenture and EDS in this space by 2011.



Estimations from the report suggest that the three companies which are comparatively smaller will compete for the same megadeals that have been the domain of the current megavendors.


\'The emerging megavendors have made dramatic progress in the past few years and have more than doubled their revenue in a four-year period, with the 2007 revenue being 2.6 times the 2004 revenue,\' said Partha Iyengar, Vice President, Analyst and Regional Research Director, Gartner. \'This level of growth differential has continued even as these vendors have become multibillion dollar enterprises. To put this in context, there are just 100 service enterprises globally with more than $1 billion in revenue.\'


The report suggests that the three companies have shown a record growth rate by a margin of 3:1 over a period of last 30 quarters thereby outperforming the current megavendors. A comparison between the three companies and the megavendors who are larger in terms of revenue generation estimates the market capitalization of the local providers to be significantly higher than that of EDS and almost on par with Accenture.


The research company has observed that four competencies namely, process excellence, world-class HR practices, providing high quality services at a low cost, the achievement of significant and disproportionate ‘mind share’ compared to their actual size will be the reasons for the emergence of the three companies as megavendors. However it has also observed that having a level of revenue per employee similar to the current megavendors is a challenge that these companies need to address to achieve megavendor status.

21 Aug 2008 15:09

Strong dollar and pressured crude help drag down bullion metals


After rising for two successive days, gold and silver prices fell today, Wednesday, 20 August, 2008 as the dollar remained quite strong. Pressure on crude prices following the weekly inventory report by the Energy Department also put pressure on the bullion metals easing their appeal as a hedge against inflation. Barring previous two days, and one day in between, gold and silver prices had registered losses in all the trading sessions in the current month of August, 2008. Silver prices also fell today.

Today, Comex Gold for December delivery fell $0.5 (0.05%) to close at $816.3 ounce on the New York Mercantile Exchange. It fell to an intra day low price of $806.4 earlier. Last week, the yellow metal gave up 8.4%. With today’s loss, it has lost 11.35% in August, 2008 till date. On 17 March, 2008 prices had skyrocketed to a high of $1,034/ounce. But prices have dropped significantly (21%) since then.

This year, gold prices have lost 2.6% till date as the dollar rallied against the euro. It has lost almost $105 in August till now. Gold ended July, 2008 lower by $11 (1.1%).

Prior to that, the yellow metal ended second quarter with a marginal gain of 0.7%. It ended June, 2008 with a gain of 4.1%. In May, it ended with a gain of higher by $22.5 (2.5%). Before May, in April, prices closed lower by 6.3%. For first quarter prices gained 10.7%. In January, prices gained 11%, the highest monthly gain since April 2006. For February, it gained 6%. But in March, prices succumbed and fell by 5.5%.

On Wednesday, Comex silver futures for September delivery fell 6.5 cents (0.5%) to $13.153 an ounce. With today’s rise silver has lost almost 11.5% in 2008 till date. Last week, it gave up 16.4%. It ended July 2008 with a gain of 3%. For the second quarter, it had gained a paltry 1.4%. Silver had gained 16% in Q1. The metal also had gained for seven straight years.

Gold and silver prices have dropped 21% and 36% from their all time highs that they reached earlier this year.

Generally, a stronger dollar pressures demand for dollar-denominated commodities, such as crude oil and gold, which become more expensive for holders of other currencies. On the other hand, a lower dollar pushes up precious metal prices as their demand lessens as it becomes cheaper for traders holding other currencies. Gold has traditionally been used as a safe-haven asset against rising inflation. Investor sentiments are boosted by the fact that gold and silver are alternate sources of good investment in the face of declining dollar and rising energy prices and vice versa.

At the currency markets on Wednesday, the dollar gained as much as 0.7% against the euro after losing almost that amount in the previous two days. Worries about growth outside the U.S. allowed the dollar to rebound on Wednesday, sending the euro back toward six-month lows against the greenback and lifting the U.S. unit against most major counterparts. The dollar index, which measures the greenback against a trade-weighted basket of currencies, rose to 76.92 from 76.746 in the previous day.

At the crude market on Wednesday, crude oil rose marginally after a government report showed that U.S. crude inventories rose market highest weekly gain in almost seven years. Crude oil for September delivery rose 45 cents (0.4%) to settle at $114.98 a barrel.

As per the weekly report issued by the Energy Information Administration (EIA) wing of the Energy Department, crude supplies rose by 9.4 million barrels to 305.9 million for the week ended 15 August, 2008. Market was expecting a build up of just 1 million barrels. Refinery utilization was at 85.7% compared with 85.9% of capacity a week earlier. EIA also reported that motor gasoline supplies fell by 6.2 million barrels to 196.6 million barrels during the week. Distillate stocks were up 500,000 barrels at 132.1 million barrels. The gasoline decrease was almost twice the expected decrease.

Gold had witnessed the greatest annual gain in twenty eight years by gaining $200/ounce (31%) in FY 2007 as lower interest rates had sent the dollar tumbling, and crude-oil prices rose to a record. Silver had climbed 16% in FY 2007. In 2006, silver had jumped 46% while gold gained 23%.

At the MCX, gold prices for October delivery closed higher by Rs 3 (0.02%) at Rs 11,572 per 10 grams. Prices rose to a high of Rs 11,807 per 10 grams and fell to a low of Rs 11,465 per 10 grams during the day’s trading.

At the MCX, silver prices for September delivery closed Rs 20 (0.1%) higher at Rs 19,692/Kg. Prices opened at Rs 20,260/kg and rose to a high of Rs 20,391/Kg during the day’s trading.
-CM
...

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