X

Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2017 Edition) on picking money-making stocks.

This is an entirely free service. No payments are to be made.


Download Now Subscribe to our free daily e-letter, The 5 Minute WrapUp and get this complimentary report.
We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
Global markets: ADRís up and running - Views on News from Equitymaster
 
 
  • PRINT
  • E-MAIL
  • FEEDBACK
  • A  A  A
  • Nov 27, 2004

    Global markets: ADRís up and running

    All the major US indices closed with modest gains in a shorter trading week thanks to ĎThanksgiving Dayí. The Dow and S&P 500 have advanced for five and six weeks respectively in succession. For the week ended November 26, 2004, Nasdaq was up 1.5%, while Dow was up 0.6%.

    While the week started on strong note with gains in technology stock, Tuesday ended rather flat with investors reacting to changes in the oil prices and dollar. Indices made further move on Wednesday, as tech rally picked up some steam in the last hour of trading. While new home sales grew at 1.2 m units, jobless claims were lesser in the month of October. Also, the consumer sentiment was up to 92.8 compared 91.7 in October survey, which also gives a better picture of the US economy.

    Indices 19-Nov-04 26-Nov-04 Change
    NASDAQ 2,071 2,102 1.5%
    Hang Seng 13,788 13,895 0.8%
    Nikkei 11,083 10,834 -2.2%
    BSE 5,962 6,035 1.2%
    FTSE 4,761 4,742 -0.4%
    Dow 10,457 10,522 0.6%
    Dax 4,135 4,154 0.5%

    Markets across the world remained more or less flat with the exception of the Japanese benchmark, Nikkei, which fell sharply by 2.2% mainly due to weakening of dollar. While steel and shipping stocks on Nikkei rose due to strength in steel prices and shipping freights, other stocks tumbled on concerns over fall in exports earnings due to weak dollar. Also, stocks in European markets traded lacklustre with drug makers falling due to weakening of dollar. The profit of these companies will have impact due to falling dollar as the US markets consume more than 50% of the total global drug consumption.

    (Price in US$) 19-Nov-04 26-Nov-04 Change
    Dr.Reddy's 17.5 18.0 2.7%
    ICICI Bank 17.5 18.3 4.6%
    Infosys 65.5 65.7 0.3%
    MTNL 8.2 8.6 4.9%
    Rediff 8.7 9.8 12.8%
    Satyam 25.9 26.8 3.7%
    VSNL 8.4 9.6 14.7%
    Wipro 22.6 23.7 4.6%

    Across the board buying was witnessed among Indian ADRs during the week. Telecom major VSNL led the charge among gainers with gains of 15% while on the other hand, dotcom major Rediff, closed 12% higher. ICICI Bank, Wipro and MTNL were among the other gainers with gains of 5% each. Gains in VSNL, the countryís largest ILD player is probably a continuation of revived interest in the stock post its acquisition of Tyco global network for a sum of around Rs 6 bn. On the other hand, gains in the ICICI bank could be attributed to a hike in deposit and lending rates effected by it and which is likely to push the earnings higher as there seems to be no let up on the credit off take front currently. The technology stocks also saw run up in their prices as the outsourcing to India is increasing and the hiring spree of these technology major continues.

     

     

    Equitymaster requests your view! Post a comment on "Global markets: ADRís up and running". Click here!

      
     

    More Views on News

    How to Ride Alongside India's Best Fund Managers (The 5 Minute Wrapup)

    Jun 10, 2017

    Forty Indian investing gurus, as worthy of imitation as the legendary Peter Lynch, can help you get rich in the stock market.

    You've Heard of Timeless Books... Ever Heard of Timeless Stocks? (The 5 Minute Wrapup)

    Aug 19, 2017

    Ever heard of Lindy Effect? Find out how you can use it to pick timeless stocks.

    Why NOW Is the WORST Time for Index Investing (The 5 Minute Wrapup)

    Aug 18, 2017

    Buying the index now will hardly help make money in stocks even in ten years.

    Trump Takes a Beating (Vivek Kaul's Diary)

    Aug 18, 2017

    Donald J Trump, a wrasslin' fan, took a 'Holy Sh*t!' blow on Tuesday.

    How To Read Your Mutual Fund Account Statement Correctly (Outside View)

    Aug 17, 2017

    PersonalFN simplifies the mutual fund account statement for you.

    More Views on News

    Most Popular

    Demonetisation Barely Made Any Difference to Tax Collections(Vivek Kaul's Diary)

    Aug 7, 2017

    The data tells us quite a different story from the one the government is trying to project.

    A 'Backdoor' to Multibaggers: It's Like Investing in Asian Paints Ten Years Ago(The 5 Minute Wrapup)

    Aug 10, 2017

    Don't miss these proxy bets on growing companies or in a few years you will be looking back with regret.

    Should You Invest In Bharat-22 ETF? Know Here...(Outside View)

    Aug 8, 2017

    Bharat-22 is one of the most diverse ETFs offered so far by the Government. Know here if you should invest...

    Signs of Life in the India VIX(Daily Profit Hunter)

    Aug 12, 2017

    The India VIX is up 36% in the last week. Fear has gone up but is still low by historical standards.

    7 Financial Gifts For Your Sister This Raksha Bandhan(Outside View)

    Aug 7, 2017

    Raksha Bandhan signifies the brother-sister bond. Here are 7 thoughtful financial gifts for sisters...

    More
    Copyright © Equitymaster Agora Research Private Limited. All rights reserved.
    Any act of copying, reproducing or distributing this newsletter whether wholly or in part, for any purpose without the permission of Equitymaster is strictly prohibited and shall be deemed to be copyright infringement.

    LEGAL DISCLAIMER: Equitymaster Agora Research Private Limited (hereinafter referred as 'Equitymaster') is an independent equity research Company. Equitymaster is not an Investment Adviser. Information herein should be regarded as a resource only and should be used at one's own risk. This is not an offer to sell or solicitation to buy any securities and Equitymaster will not be liable for any losses incurred or investment(s) made or decisions taken/or not taken based on the information provided herein. Information contained herein does not constitute investment advice or a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual subscribers. Before acting on any recommendation, subscribers should consider whether it is suitable for their particular circumstances and, if necessary, seek an independent professional advice. This is not directed for access or use by anyone in a country, especially, USA or Canada, where such use or access is unlawful or which may subject Equitymaster or its affiliates to any registration or licensing requirement. All content and information is provided on an 'As Is' basis by Equitymaster. Information herein is believed to be reliable but Equitymaster does not warrant its completeness or accuracy and expressly disclaims all warranties and conditions of any kind, whether express or implied. Equitymaster may hold shares in the company/ies discussed herein. As a condition to accessing Equitymaster content and website, you agree to our Terms and Conditions of Use, available here. The performance data quoted represents past performance and does not guarantee future results.

    SEBI (Research Analysts) Regulations 2014, Registration No. INH000000537.

    Equitymaster Agora Research Private Limited. 103, Regent Chambers, Above Status Restaurant, Nariman Point, Mumbai - 400 021. India.
    Telephone: +91-22-61434055. Fax: +91-22-22028550. Email: info@equitymaster.com. Website: www.equitymaster.com. CIN:U74999MH2007PTC175407
     

    Become A Smarter Investor In
    Just 5 Minutes

    Multibagger Stocks Guide 2017
    Get our special report, Multibagger Stocks Guide (2017 Edition) Now!
    We will never sell or rent your email id.
    Please read our Terms

    S&P BSE SENSEX


    Aug 18, 2017 (Close)

    MARKET STATS