Aggregate results of 1721 companies showed 18% rise in net profit on 22.90% rise in net sales in Q4 March 2008 over Q4 March 2007, so far. There was 29.80% rise in net profit on 23.30% rise in net sales in the year ended March 2008 over year ended March 2007.
Asian markets were trading mixed today, 14 May 2008. Sanghai Composite (up 1.76% at 3,623.03), Taiwan Weighted (up 0.20% at 9,007.64), advanced. However, Hang Seng (down 1.24% at 25,236.42), Nikkei 225 Average (down 0.02% at 13,951.53), Straits Times (down 0.71% at 3,180.63) and Seoul Composite (down 0.27% at 1,837.84) edged lower.
US markets settled mixed yesterday, 13 May 2008 as investors juggled a mixed bag of news. A tepid outlook from Yahoo, HP's bid for EDS and a surprising resilience in retail sales led to mixed reactions. The Dow Jones fell 44.13 points, or 0.34%, to 12,832.18. The Nasdaq Composite index rose 6.63 points, or 0.27%, to 2,495.12.
On 13 May 2008, Indian equities reversed early gains in choppy trade to settle lower closely mirroring European markets. The 30-share BSE Sensex slipped 108.04 points or 0.64% at 16,752.86 and the broader based S&P CNX Nifty shed 54.85 points or 1.09% at 4,957.80, on that day.
As per provisional data, foreign funds purchased shares worth a net Rs 73.93 crore yesterday, 13 May 2008. Domestic funds bought shares worth a net Rs 266.50 crore on that day.
Foreign institutional investors (FIIs) were net buyers of Rs 617.15 crore in the futures & options segment yesterday, 13 May 2008. They were net buyers of index futures to the tune of Rs 658.33 crore and sold index options worth Rs 41.12 crore. They were net buyers of stock futures to the tune of Rs 3.90 crore and sold stock options worth Rs 3.96 crore.
U.S. light crude for June delivery was down 1 cent at $125.79 a barrel today, 14 May 2008, with traders awaiting an expected rebound in weekly U.S. distillate stocks and still on edge over the previous day's report that Iran was considering a proposal to cut output. It had surged to record high of $126.98 a barrel yesterday, 13 May 2008.
Meanwhile, the board of the Securities and Exchange Board of India (SEBI) in its meeting held yesterday, 13 May 2008, gave an in principle approval to the concept of marking lien on bank account as an alternative mode of payment in public and rights issues. The concept will enable the application money to remain in the bank account of the applicant till such time the allotment is finalized and thus eliminate the refund process.
