Ear to the ground
Block deal in Aztec Software
A block deal in Aztec Software was seen on Monday. Market sources said the deal on the BSE was for 17,60,000 shares at Rs 35. A total of 17,60,018 shares were traded on the BSE (in demat trade) and the scrip ended 7.9 per cent higher at Rs 37.55. This bl
ock deal was struck soon after the opening of the market. The average daily volume on the BSE in the last six months is around 14,000 shares.
On the hedge
Is the market heading south?
MONDAY's trading in the derivatives segment pointed to bearish outlook in the market. Here are some of the trends observed during the day's trading:
Stocks
SEBI to move HC against tribunal order on Sterlite
THE Securities and Exchange Board of India (SEBI) has decided to file an appeal in the High Court against the Securities Appellate Tribunal (SAT) order overruling an earlier SEBI order on Sterlite Industries Ltd (SIL).
Infy outdoes Infosys
IN the days following the announcement of second-quarter results by Infosys, the top three Indian infotech ADRs listed in the US markets have streaked ahead of their domestic counterparts. Infosys, Wipro and Satyam Computers have all posted better return
s in the US market compared to their domestic offerings.
Novartis pull-out hits Dr. Reddy's Labs
The share price of Dr Reddy's Laboratories fell by about five per cent at the BSE, amidst reports of Novartis pulling out of the commercialising of its diabetes molecule NN622. The stock closed at Rs 1039.95 against the previous close of Rs 1100.35, shed
ding Rs 60.40.
Profit-booking pushes equities into negative zone
PROFIT-BOOKING in technology and pharmaceutical stocks resulted in the market indices ending the day on a weak note on Monday. The bellwether BSE Sensex closed at 3,009.33 points, a fall of 12.83 points (0.42 per cent).
Technical Analysis
Mild bear domination
MONDAY's trading activity witnessed mild bear domination. The intra-day movement in the index was around 22 points. It closed with a loss of around six points with respect to Thursday's close. The sentiment reading of the tradable counters stands mildly
in favour of the bulls.
