DSE set to spring back to life this October

The defunct Delhi Stock Exchange (DSE) is all set to spring back to life this October. Plans to revive the exchange are progressing and technology up-gradation is underway . The exchange, which has already received re-listing fee from around 300 companies , is now in the process of inviting new membership. “We have already received Rs 2 crore in listing fee,” said DSE director BK Sabharwal . In an exclusive chat with ET NOW, he said listing fee has been cut down by 50% to attract more companies. DSE is banking upon the idea that most of the arbitrage in NSE is coming from members of north India and DSE can provide a good platform for them. The exchange is currentle trying to attract shares that are not listed on BSE or any other exchange in India. When DSE’s operations came to a grinding halt eight years ago, nearly 2800 shares were listed on the exchange . “There are brokerages from northern India which have high volume on NSE and BSE. They can benefit by trading on DSE and the exchange will also gain through good volume of business,” said Mr Sabharwal . While regional exchanges are no competition to big players like NSE, it is felt that companies based out of Delhi would prefer to list on DSE. Officials of DSE expect major north-based corporates to return to the exchange when it reopens. Companies like Escorts and Escorts Finance have already indicated they will be back, Mr Sabharwal said. Similarly, DSE is also expecting prominent brokerages like SMC, JP Capital and Adroit to get active on the exchange. They have large volumes on NSE and they could be big-ticket members, Mr Sabharwal said. DSE has also received requests from 40 more applicants for its membership.


for further details visit as : economictimes.indiatimes.com/Market-News/DSE-getting-ready-for-relaunch-in-Oct/articleshow/4801942.cms

Mumbai : profit booking Tuesday after equity benchmarks

MUMBAI: An initial upmove gave way to profit booking Tuesday after equity benchmarks mustered nearly 14 per cent in a massive rally on Dalal Street over the recent sessions. Mixed cues from Asian markets played on sentiment as well.
“For the day, we remain negative on the market. Nifty is expected to trade between 4455-4383 on the lower side while resistance lies between 4582-4638,” said Religare Securities in a technical note. At 10:45 am, National Stock Exchange’s Nifty was trading at 4487.55, down 0.33 per cent or 14.7 points from the previous session. The index touched a high of 4524.00 and low of 4456.35 in trade so far. Bombay Stock Exchange’s Sensex was at 15,062.90, lower by 0.84 per cent or 128.11 points. The index rose to a high of 15,234.21 before slipping to a low of 15,024.09 so far. Midcaps and smallcaps were trading on a subdued note. BSE Midcap Index was down 0.37 per cent and BSE Smallcap Index lost 0.54 per cent. Sectorwise, technology, metals and realty stocks, which were the star performers in the recent rally, were the worst hit. BSE Realty Index dropped 2.46 per cent, followed by BSE IT down 2.02 per cent and BSE Metal Index lower by 1.42 per cent.


for further details visit as : economictimes.indiatimes.com/Market-Watch-Stocks-subdued-Tata-Steel-TCS-fall/articleshow/4801803.cms

Mumbai Stocks opened on Monday extending gains

MUMBAI: Stocks opened sharply higher on Monday extending gains from the previous session. Shares of Tata Consultancy Services surged more than 10 per cent after the IT major beat street forecast with a 22 percent rise in quarterly profit. Bombay Stock Exchange’s Sensex was at 14950, higher by 207 points while National Stock Exchange’s Nifty rose 61 points to 4435.

“The week is set to begin on a positive note. The confidence comes from the fact that more than 3.2 crore shares have been added in the stock futures. This is the highest single day addition in the month of July. Some of the stocks that we like are Jaiprakash Associates, FSL and Rolta. Among the banks, our interest revolves around 'Axis'. Traders should keep an eye on international developments, where a $3 billion helpline is likely to be thrown at CIT, the beleaguered US bank. If this fails to materialise, it could jolt the traders,” said Anagram Stock Broking. US stocks closed out their best week in four months on Friday on a flat note as strong earnings from IBM offset disappointing results from General Electric Co. The Dow Jones Industrial Average gained 32.12 points, or 0.37 percent, to 8,743.94. But the Standard & Poor's 500 Index slipped 0.36 points, or 0.04 per cent, to 940.38. And the Nasdaq Composite Index added 1.58 points, or 0.08 per cent, to 1,886.61.


For further details visit as : economictimes.indiatimes.com/Market-News/Gap-up-opening-for-equities-TCS-surges-10/articleshow/4797346.cms

Taiwan and China could sign a free-trade style agreement

TAIPEI, July 13 (Reuters) - Taiwan and China could sign a free-trade style agreement later than expected, a top Taiwanese official for cross-strait affairs said. His comments prompted the island's stock market to drop sharply on Monday.

Taiwan's main TAIEX share index was down more than 3 percent by mid-morning after the head of Taiwan's Mainland Affairs Council Lai Shin-yuan said the two sides could sign an Economic Cooperation Framework Agreement next year.
This was later than some market expectations for significant progress on the issue later this year, which had helped boost China-related financial and tourism stocks earlier this year.
Lai told the Taiwanese community living in New York over the weekend that the agreement, known locally as the ECFA, would put Taiwan on equal standing with other economies that have already signed free-trade agreements with China.
Taiwan and China have been administered by separate governments since the Nationalists fled China in 1949 after they were defeated by the Communists.
China considers Taiwan to be part of its territory and has threatened to take it back, by force if necessary, should the latter declare independence.
However, relations have warmed considerably under the year-old administration of President Ma Ying-jeou, who was elected on a platform of closer economic ties with China.



For further details visit as : www.reuters.com/article/marketsNews/idUSTP34984320090713

Indian stock market status

Indian stock market started the day on a negative zone after a fall of 1.84% on the previous working day. The 30-share index, BSE Sensex opened with a loss of 98.27 points, at 13,405.95 on Monday.

In the previous day session, the Sensex ended with a loss of 253.24 points, or 1.84%, while the NSE Nifty declined by 77.05 points, or 1.89%.
Currently, the 30-share index Sensex is trading down 187.31 points, or 1.39%, at 13,316.91, after touching a high of 13,405.95 and a low of 13,316.91. Meanwhile the broad based Nifty is trading lower by 47.90 points, or 1.20%, at 3,956, after hitting a high of 4,003.40 and a low of 3,941.60. (09.59 a.m.)
Overall market breadth is sharply negative. Out of the total 1,098 stocks traded at BSE, 237 advanced, 838 declined while 23 remained unchanged.
Major gainers in the 30-share index were Infosys Technologies (2.58%), Wipro (2.38%), and Sterlite Industries (India) (2.29%).
On the other hand, Reliance Infrastructure (8.64%), Tata Steel (5.55%), Reliance Industries (5.53%), Reliance Capital (5.11%), Hindalco Industries (4.28%), and Bharat Heavy Electricals (3.43%) were the major losers in the Sensex.



For further details visit as : http://www.myiris.com/newsCentre/storyShownew_opt.php?fileR=20090713101428043&secID=fromnewsroom&secTitle=From%20the%20News%20Room&dir=2009/07/13

NYSE Euronext and Qatar Holding

The move gives the company a foothold in an energy-rich Persian Gulf nation that is trying to bill itself as a regional economic center for the Middle Eastern market.

NYSE Euronext and Qatar Holding, the investment arm of the Qatar Investment Authority (QIA), said their partnership will give rise to Qatar Exchange, the successor of the Doha Securities Market (DSM).
Under the deal, NYSE Euronext is taking a 20 percent stake in the exchange, with the rest owned by the QIA, the state investment fund, through Qatar Holding.
All workers at DSM will be transferred to Qatar Exchange.
NYSE Euronext, the parent of the New York Stock Exchange, will provide the technology for the new exchange.
Stock exchanges in the Gulf region have outperformed many of their peers elsewhere in recent years, thanks in part to their fast-growing economies.
But the financial crisis has in the past few quarters also hit exchanges in the region, sapping a lot of trading volume and putting public listings on hold.
Still, the move would give NYSE exposure to one of the world's growth areas.
The investment and technology joint venture is part of the country's plans to compete with the financial-services sector in Dubai and Abu Dhabi.
"The start of this relationship between NYSE Euronext and the state of Qatar and Qatar Exchange will add a lot of value to us in terms of technology, in terms of developing the project and in going international," said Hussain al-Abdulla, board member executive of the QIA.


Source : business.maktoob.com/20090000005900/NYSE_Euronext_invests_$200mln_in_Qatar_bourse/Article.htm

MSCI status and accorded recognition as a full-fledged

There was little hoopla locally the other day, but there should have been: Israel’s economy was upgraded by Morgan Stanley Capital Index (MSCI) from “emerging market” status and accorded recognition as a full-fledged “developed market.”

This is no mean feat for a young country, a severely embattled one with few natural resources; one where virtually everything had to be started from scratch, often under the most adverse of conditions — including belligerence, boycotts and bad press.
The MSCI did more than pat Israel on the back. In the Tel Aviv Stock Exchange, this is regarded as breaking the glass ceiling. Israel has been admitted to play in the exclusive and prestigious top league.
To put the reclassification into context, we need to realize that when it takes effect, in May 2010, Israel will rank 18th among the 24 developed market members, with a similar market weight to Denmark and Belgium and greater than Norway, Ireland, New Zealand, Portugal and Greece.
Why was Israel thus honored? Plainly, because we are doing well. With $134.5 billion in stock-market value, the TASE outdid most of its counterparts globally during the present crisis.
We ought to congratulate ourselves on our tiny, beleaguered country’s achievements, welcome the recognition these achievements are receiving from objective international assessors, and do our utmost to justify the confidence we inspire.

Source : www.timesleader.com/opinion/Israel_economy_matures_06-22-2009.html

SAP AG, whose new software sales plunged 33 percent from oracle

SAP AG, whose new software sales plunged 33 percent last quarter, is struggling to wrest orders from Oracle Corp. as more customers like Jeff Kuckenbaker opt for the U.S. company's software and services to run businesses.
Kuckenbaker, who manages technology at Star Trac, an Irvine, California-based fitness-equipment company with four million clients in 75 countries, picked Oracle over SAP last month to tie its diverse computers into a seamless network.
"Oracle demonstrated the best ability to address our globalization, working in multiple languages and currencies," said Kuckenbaker, the vice president for information systems. Oracle's range of products let him link operations "without having to be in the business of software integration."
SAP, the world's biggest maker of business-management software that tracks purchases and handles payroll, is losing market share to No. 2 Oracle. Corporations are reining in spending and seeking to buy more software from one company to get a better price. Oracle Chief Executive Officer Larry Ellison has been the most acquisitive in the industry to expand his offerings. SAP CEO Leo Apotheker has made few deals, preferring to lean on internal development.
SAP is "clearly losing market share," said Adam Wood, a Paris-based analyst at Exane BNP Paribas who rates SAP "underperform." "Because of the acquisitions Oracle has made recently, it's left them with a bigger product range for their existing customers."


For further details visit as : www.dailyherald.com/story/?id=302001

MSCI Emerging Markets Index may climb to 985 by June 2010

June 19 (Bloomberg) -- Emerging-market stocks may rise a further 32 percent in the next year as earnings decline less and recover faster than predicted, Morgan Stanley said.

The MSCI Emerging Markets Index may climb to 985 by June 2010, 21 percent higher than the brokerage’s earlier prediction, strategists led by Jonathan Garner wrote in a report dated June 18. Still, the brokerage reduced its equity allocation in its recommended investment portfolio, saying the global economic recovery may face a “setback” in the short term.
“Our revised base case earnings forecast trajectory is for a slightly shallower and shorter earnings recession than our previous forecast,” Garner wrote. “We are tactically cautious here because we expect a lop-sided ‘W’ shape to the global economic recovery.”
The MSCI index for developing-market shares climbed 0.3 percent to 745.74 at 3:33 p.m. in Singapore, halting a five-day, 6 percent slump. The measure has rallied 32 percent this year, outpacing a 4.2 percent gain in the MSCI World Index.
Morgan Stanley reduced its equity allocation in its recommended investment portfolio to 54 percent of assets from 56 percent and advised investors to place 5 percent of funds in cash, higher than an earlier recommendation of 3 percent.
The emerging-market index could face a “correction” of between 17 percent and 33 percent from its recent peak over the next three months, Morgan Stanley said, citing its “technical, funds flow, factor model, and seasonal indicators.”


For further details visit as : www.bloomberg.com/apps/news?pid=20601091&sid=azC1JOQuPkjU

British housebuilder Taylor Wimpey

LONDON, June 19 (Reuters) - British housebuilder Taylor Wimpey (TW.L) said it had seen enduring stability in the housing market in the past six weeks, and it might increase the number of new sites in the second half, lifting shares in the sector.

"We have been encouraged by the ongoing stability in the UK housing market, but remain cautious with regard to the prospects of the wider economy and, in particular, the potential impact of rising unemployment," Taylor Wimpey said on Friday.
Its shares, which had fallen over 20 percent in the past fortnight and have underperformed the stock market .FTAS by 11 percent over the past year, were up 7.3 percent at 33.25 pence at 0740 GMT. Other housebuilders' shares .FTASX3720 also rose.
KBC Peel Hunt analyst Robin Hardy said Taylor Wimpey stock could bounce after a sharp recent correction, but it "cannot shake off the wider issues of unemployment and a poor lending environment. The pricing environment is not going to improve any time soon, and this is the worst scenario for new build".
The number of Britons claiming jobless benefit rose less than expected in May but still enough to push the unemployment rate to its highest in more than a decade. [ID:nLH826126]
Recession and rising unemployment have led to house prices falling about a fifth from their peaks in the autumn of 2007.
But prices in May rose 2.6 percent, the biggest monthly gain in 6-1/2 years, according to the Halifax, Britain's biggest home loan lender, while the Nationwide Building Society reported a 1.2 percent rise for the month. [ID:nL4210746] [ID:nLAG003459]
Taylor Wimpey said its current order book was 971 million pounds ($1.59 billion), up 73 percent from its end-2008 level.
"Our net private reservation rate remains at around 0.6 per site per week, with prices broadly flat and cancellation rates below the long-run average," Taylor Wimpey said, adding: "The severe downside scenarios for which we have been planning now appear less likely to materialise".


For further details visit as : www.reuters.com/article/rbssHomebuilding/idUSLJ16370720090619

Australian share market close lower on thurday

The Australian share market closed lower on Thursday amid weaker commodity prices and resource stocks and high volumes as index futures expired.

At 1615 AEST the benchmark S&P/ASX200 index was down 12 points, or 0.31 per cent, at 3,892.1 points, while the broader All Ordinaries index gave up 16.8 points, or 0.43 per cent, to 3,887.4 points.
On the Sydney Futures Exchange, the June share price index contract, which rolled over at noon, was 25 points higher at 3,922 on a volume of 10,403 contracts.
The September share price index contract had lost 14 points to 3,856 on a volume of 28,651 contracts.
Shaw Stockbroking senior dealer Jamie Spiteri said volumes were excessively high and driven by the expiry of the June share price index contract.
"A lot of the volumes are inflated by the heavy trading related to index futures expiry today."
Trading in Rio Tinto ex-dividend and other resources stocks was weighed heavily on the market.
"The big mark down in the Rio share price today - going ex dividend yesterday they were relatively resilient but not so here today," Mr Spiteri said.
Rio dropped $5.16, or 8.95 per cent, to $52.52 and was the second highest traded stock by volume, with 9.4 million shares changing hands for $501 million.
Rio's fall combined with weaker commodity prices in offshore markets overnight dragged the rest of the resources sector down.
BHP Billiton was down 96 cents at $34.70.
"Other major mining groups were noticeably weaker across Europe and North America last night," Mr Spiteri said.
Santos was the resource sectors bright spot, firming 51 cents, or 3.59 per cent, to $14.70 after signing the first supply agreement for its proposed Gladstone liquefied natural gas (GLNG) project with Malaysia's Petronas.


For further details visit as : news.smh.com.au/breaking-news-business/resource-stocks-pull-market-down-20090618-cibm.html