Wall Street posted modest losses on Monday, as traders cashed in on
recent gains ahead of some key economic reports on tap for this week,
including data on retail sales, industrial production and weekly jobless
claims. The key benchmark indices Dow Jones was down by 0.34%
and NASDAQ was down by 0.40%. The Asian bourses are trading
mixed with Nikkei marginally up by 0.20%, Hang Seng down by 0.67%
and Singapore Nifty up by 0.27%.
While most of the global markets are in the negative terrain, short
covering after the three straight days of fall is likely to keep the markets
flat for the day. Technically spot nifty may take resistance at
4465/4535/4630 levels and support at 4370/4305/4140 levels.
POST-MARKET ANALYSIS:
Concerns on below-normal rains and the speard of Swine flu, made the
Indian markets extend losses for the third straight day.The key
benchmark indices Sensex and Nifty were down by 0.99% and 0.98%
respectively.
FIIs’ were net sellers in equity and net buyers in derivatives.
ADRs: ICICI Bank(-5.91%), MTNL (-5.71%), DR Reddys labs (-3.75%)
& HDFC Bank (-3.01%).
NEWS TO USE:
POSITIVE
TATA MOTORS-owned Jaguar Land Rover (JLR) had successfully
secured a financing facility of up to £75 million (Rs 600 crore) with
Burdale Financial Ltd, a member of the Bank of Ireland Group.
July automobile sales released by the Society of Indian Automobile
Manufacturers (Siam) show a growth of 20.8% over the same month
last year, the highest such rise till now for the current financial year.
This growth comes from record sales of cars and utility vehicles, which
grew by 29.2%, and two-wheelers, whose sales surged by 20.1% last
month over the corresponding period last year.
GLENMARK PHARMACEUTICAL’S attempts to become the first
Indian company to develop a new drug may succeed by next year, as
its candidate for the anti-diarrhoea associated with HIV, named
Crofelemer, has moved into the final stage of clinical trials.
IOC and Adani Energy combine has bagged rights to retail CNG to automobiles and piped gas to industries in
Chandigarh and Allahabad by quoting a nil or zero pipeline tariff.
Daiichi Sankyo offer to acquire an additional 20% stake in ZENOTECH will not open on August 11.
India cut down heavily on the quantity of sugarcane used for producing sugar in 2008-09 season and diverted
more than 100 million tonnes (mt) of the crop for other purposes, even as the production of the sweetener
recorded a huge shortfall.
PETRONET LNG signed an agreement to import 1.5 million tons of LNG Australia.
TATA STEEL is scouting for coking coal and iron ore mines abroad, including in Brazil and Australia, to ensure
raw material security for its European operations.
Close on the heels of poor rain in June, deficient rainfall in July has pushed up tea prices further. If the current
trend of deficient rainfall continues, the year will end with a record shortfall of tea, more than what was
anticipated at the beginning of the year.
DABUR expects its health supplement brand Glucose D to clock in sales of around Rs 100 crore by the end of
this fiscal.
UNITECH Group has launched two residential projects in Chennai including Uni Homes in the affordable
segment in a southern suburb, and a Rs 4,500-crore township in North Chennai.
NEUTRAL
GMR GROUP is considering listing its global holding company on the London Stock Exchange (LSE) as a step
towards building a $10 billion global assets portfolio.
Direct to Home (DTH) operators could be asked to provide inter-operable set-top boxes to their customers with
the Competition Commission of India (CCI) seeing prima facie merit in a complaint filed by a consumer
organisation that it is in violation of competition laws.
FMCG majors like BRITANNIA, ITC and Parle Products are mulling price hikes and cost-cutting measures on
the back of a weak monsoon season, coupled with soaring sugar prices.
TATA MOTORS would deliver 3,000 Nano cars in Orissa in 2009-10 and 2010-11.
RBI is of the view that there is no case for an extension of deadline for restructuring of loans beyond August 30.
PUNJ LLOYD has raised Rs 670 crore through the issue of shares to institutional investors on a private
placement basis.
INDUSIND BANK has won the mandate from the Haj Committee of India to cater to the business of import and
distribution of Saudi Riyal currency notes for all government sponsored Haj pilgrims going to Saudi Arabia this
year.
FORTIS HEALTHCARE LTD fixed the ratio for the rights issue at two for every five equity shares held.
IDBI BANK announced the repayment of its 11.5 per cent SLR bonds, 2009 on September 26, 2009.
Showing posts with label Market Report. Show all posts
Showing posts with label Market Report. Show all posts
Tuesday, August 11, 2009
Saturday, August 8, 2009
WEEKLY MARKET OUTLOOK :- 8-8-2009
Watch NIFTY 4420 – 4380 Levels…
Overseas equity markets like US Index DOW JONES, Japanese Index NIKKEI, and
UK Index FTSE 100 witnessed considerable profit booking in the last week.
However, technically, the intermediate global market trend is likely to remain
uptrend. On the domestic front, the key benchmark indices witnessed selling
pressure in the preceding week on account of poor monsoon as well as profit taking
by investors. Foreign funds bought Rs. 1077.09 crore more shares than they sold
Rs.657.72 crores in the futures and options market, which indicates the increase in
risk appetite among the FII fraternity. Looking to the week ahead, we may see the
markets consolidating around the current levels of 4420 – 4560.
NIFTY created new
52 week high of 4731.45 and broken the key support level of 4620 suggesting
weakness may persist till 4420 levels. The intermediate trend would remain
uptrend, but if NIFTY breaks 4380 levels on daily closing basis then short sellers
would be capturing the market. However, if Nifty trades convincingly above 4560
levels, and then it is likely to test 4591-4653 levels.
Post Market Analysis
Domestic markets concluded the week in the negative terrain on account of selling
pressure across secors. unfavorable global cues and concern over monsoon led to
the bearish sentiments .
Wednesday, August 5, 2009
MONEY MORNING -> 5th Aug 2009
Wall Street posted modest rise as traders took a break from the recent
heavy buying. The key benchmark indices Dow Jones was up by 0.36%
and NASDAQ was up by 0.13%. The Asian bourses are trading mixed
with Nikkei down by 0.08%, Hang Seng up by 0.76% and Singapore
Nifty up by 0.62%.
While near-term trend continues to be positive, for intraday high degree
volatility can be expected. Technically spot nifty may take resistance at
4725/4775/4860 levels and support at 4640/4595/4505 levels.
POST-MARKET ANALYSIS:
Profit booking at higher levels limited the upside for the domestic
bourses. The key benchmark indices Sensex and Nifty were down by
0.59% and 0.66% respectively.
FIIs’ were net buyers in equity and net sellers in derivatives.
ADRs: Satyam Computers (+7.41%), Tata Motors (+4.33%), Patni
Computers (-4.93%) and Sterlite Ind. (-3.21%).
NEWS TO USE:
POSITIVE
RIL gas sales from its eastern offshore fields have risen to 35 million
cubic metres a day (mmscmd), the highest since the nation's most
prolific fields started producing in April.
Ministry has approved the sale of 8.38%of government equity in NMDC
that could fetch the exchequer around Rs 12,000 crore.
SAIL and TATA STEEL have hiked prices of flat steel products by up to
Rs 1,000 a tonne on account of improving demand in the country.
HCL INFOSYSTEMS has bagged an order of Rs 40 crore from SBI and
associated banks to deploy maintain and service automated teller
machines (ATMs).
RELIANCE INFRA has been awarded the Rs 11,000-crore Mumbai
Metro-II project on a Build Operate Transfer (BOT) basis.
HCC has bagged Rs 228.79 crore contract from Vidharbh Irrigation
Development Corporation for infrastructure.
The proposed 50:50 foundry and forging joint venture between Heavy Engineering Corporation and BHEL may
be incorporated and become operational within this fiscal.
ANDHRA BANK is targeting Rs 3,400 crore business during the current financial year.
DABUR entered the Rs 1,100 crore fairness cream market to take on the likes of HUL's 'Fairly & Lovely',
launching a new range of Ayurvedic products in the skin care segment.
TATA STEEL will take its annual production capacity to 16 million tonnes per annum (MTPA) by 2014 at an
estimated investment of about Rs 40,000 crore.
WIPRO TECHNOLOGIES has bagged a five-year IT services deal with Charming Shoppes Inc, the US-based
multi-brand speciality apparel retailers primarily focussed on plus-size women’s apparel.
NEUTRAL
Govt extends NELP VIII bid date by two months to October 12, 2009.
National Highways Authority of India (NHAI) is working on a proposal to scrap the 30 to 35% premium on toll
charged on highways that bypass cities.
ABG SHIPYARD has raised the open offer price to buy out drilling firm GREAT OFFSHORE to Rs 520 a share
from the Rs 450 announced last week.
STERLITE INDUSTRIES may get the support of rival bidder Harbinger Capital Partners in its takeover plan for
the bankrupt US copper mining firm, Asarco. Harbinger has decided to withdraw from the race, informing the
bankruptcy.
RIL will pick up a 67% stake in Krishna Godavari Gas Network Ltd (KGGNL), a joint venture promoted by the
Andhra Pradesh government, for undertaking city gas distribution in the state.
A follow-on public offer of REC to raise around Rs 2,900 crore is likely to come up by the end of the current
financial year
The public spat between the government and the Anil Dhirubhai Ambani (ADA) group continued today, with
downstream petroleum regulator Directorate General of Hydrocarbons (DGH) defending the $8.8-billion capex
plan of RIL for the KG-D6 field and reiterating the importance of the production sharing contract (PSC).
The civil construction of the 15 million tonne per annum (mtpa) refinery of the IOC at Paradeep is expected to
start by Decembder this year.
AXIS BANK will issue 71.4 million fresh equity shares through Global Depository Receipts (GDRs) or qualified
institutional placement (QIP) to support growth.
TATA STEEL is exploring possibilities for supplying skin panels to the world's largest car maker Toyota's
upcoming 'strategic' small car in India, to be launched by 2011.
DIVIS LABORATORIES has allotted over 6.48 crore equity shares of Rs 2 each as bonus to the shareholders
of the company in the ratio of 1:1.
KOTAK GROUP purchased a 51% stake in the Ahmedabad Commodity Exchange (ACE) and plans to convert
the regional exchange into a national one within a year.
BHARTI AIRTEL announced the creation of a new terrestrial cable network to Bhutan. As part of this initiative,
Airtel has inked an MoU with the Royal Government of Bhutan to extend fibre connectivity to the Himalayan
Kingdom.
GUJARAT ALKALIES AND CHEMICALS LTD plans to outsource manufacturing of its new toluene-based
products.
Strategy to be followed:
Buy on every decline and sell on every rally.
However, given the current high volatility of the markets, investors are advised to take a long-term investment
perspective.
Investors are advised to book profit even when the stock reaches 60-70% of the target.
Diversify the portfolio as it reduces the risk.
BOARD MEETING:
DATE COMPANY NAME PURPOSE
08 08 2009 HANUNG TOYS AND TEXTILES LIMITED Postal Ballot
10 08 2009 SMS PHARMACEUTICALS LIMITED Audited Accounts
13 08 2009 COLGATE PALMOLIVE (INDIA) LTD Interim Dividend/Record Date
08 09 2009 SHRENUJ & CO LTD Miscellaneous
TO VIEW
heavy buying. The key benchmark indices Dow Jones was up by 0.36%
and NASDAQ was up by 0.13%. The Asian bourses are trading mixed
with Nikkei down by 0.08%, Hang Seng up by 0.76% and Singapore
Nifty up by 0.62%.
While near-term trend continues to be positive, for intraday high degree
volatility can be expected. Technically spot nifty may take resistance at
4725/4775/4860 levels and support at 4640/4595/4505 levels.
POST-MARKET ANALYSIS:
Profit booking at higher levels limited the upside for the domestic
bourses. The key benchmark indices Sensex and Nifty were down by
0.59% and 0.66% respectively.
FIIs’ were net buyers in equity and net sellers in derivatives.
ADRs: Satyam Computers (+7.41%), Tata Motors (+4.33%), Patni
Computers (-4.93%) and Sterlite Ind. (-3.21%).
NEWS TO USE:
POSITIVE
RIL gas sales from its eastern offshore fields have risen to 35 million
cubic metres a day (mmscmd), the highest since the nation's most
prolific fields started producing in April.
Ministry has approved the sale of 8.38%of government equity in NMDC
that could fetch the exchequer around Rs 12,000 crore.
SAIL and TATA STEEL have hiked prices of flat steel products by up to
Rs 1,000 a tonne on account of improving demand in the country.
HCL INFOSYSTEMS has bagged an order of Rs 40 crore from SBI and
associated banks to deploy maintain and service automated teller
machines (ATMs).
RELIANCE INFRA has been awarded the Rs 11,000-crore Mumbai
Metro-II project on a Build Operate Transfer (BOT) basis.
HCC has bagged Rs 228.79 crore contract from Vidharbh Irrigation
Development Corporation for infrastructure.
The proposed 50:50 foundry and forging joint venture between Heavy Engineering Corporation and BHEL may
be incorporated and become operational within this fiscal.
ANDHRA BANK is targeting Rs 3,400 crore business during the current financial year.
DABUR entered the Rs 1,100 crore fairness cream market to take on the likes of HUL's 'Fairly & Lovely',
launching a new range of Ayurvedic products in the skin care segment.
TATA STEEL will take its annual production capacity to 16 million tonnes per annum (MTPA) by 2014 at an
estimated investment of about Rs 40,000 crore.
WIPRO TECHNOLOGIES has bagged a five-year IT services deal with Charming Shoppes Inc, the US-based
multi-brand speciality apparel retailers primarily focussed on plus-size women’s apparel.
NEUTRAL
Govt extends NELP VIII bid date by two months to October 12, 2009.
National Highways Authority of India (NHAI) is working on a proposal to scrap the 30 to 35% premium on toll
charged on highways that bypass cities.
ABG SHIPYARD has raised the open offer price to buy out drilling firm GREAT OFFSHORE to Rs 520 a share
from the Rs 450 announced last week.
STERLITE INDUSTRIES may get the support of rival bidder Harbinger Capital Partners in its takeover plan for
the bankrupt US copper mining firm, Asarco. Harbinger has decided to withdraw from the race, informing the
bankruptcy.
RIL will pick up a 67% stake in Krishna Godavari Gas Network Ltd (KGGNL), a joint venture promoted by the
Andhra Pradesh government, for undertaking city gas distribution in the state.
A follow-on public offer of REC to raise around Rs 2,900 crore is likely to come up by the end of the current
financial year
The public spat between the government and the Anil Dhirubhai Ambani (ADA) group continued today, with
downstream petroleum regulator Directorate General of Hydrocarbons (DGH) defending the $8.8-billion capex
plan of RIL for the KG-D6 field and reiterating the importance of the production sharing contract (PSC).
The civil construction of the 15 million tonne per annum (mtpa) refinery of the IOC at Paradeep is expected to
start by Decembder this year.
AXIS BANK will issue 71.4 million fresh equity shares through Global Depository Receipts (GDRs) or qualified
institutional placement (QIP) to support growth.
TATA STEEL is exploring possibilities for supplying skin panels to the world's largest car maker Toyota's
upcoming 'strategic' small car in India, to be launched by 2011.
DIVIS LABORATORIES has allotted over 6.48 crore equity shares of Rs 2 each as bonus to the shareholders
of the company in the ratio of 1:1.
KOTAK GROUP purchased a 51% stake in the Ahmedabad Commodity Exchange (ACE) and plans to convert
the regional exchange into a national one within a year.
BHARTI AIRTEL announced the creation of a new terrestrial cable network to Bhutan. As part of this initiative,
Airtel has inked an MoU with the Royal Government of Bhutan to extend fibre connectivity to the Himalayan
Kingdom.
GUJARAT ALKALIES AND CHEMICALS LTD plans to outsource manufacturing of its new toluene-based
products.
Strategy to be followed:
Buy on every decline and sell on every rally.
However, given the current high volatility of the markets, investors are advised to take a long-term investment
perspective.
Investors are advised to book profit even when the stock reaches 60-70% of the target.
Diversify the portfolio as it reduces the risk.
BOARD MEETING:
DATE COMPANY NAME PURPOSE
08 08 2009 HANUNG TOYS AND TEXTILES LIMITED Postal Ballot
10 08 2009 SMS PHARMACEUTICALS LIMITED Audited Accounts
13 08 2009 COLGATE PALMOLIVE (INDIA) LTD Interim Dividend/Record Date
08 09 2009 SHRENUJ & CO LTD Miscellaneous
TO VIEW
Monday, August 3, 2009
Nifty closes at 14-month up ; realty,auto, metals lead: SENSEX UP 254 PTS
The Sensex and the Nifty surged smartly in the last one hour of the trade and closed at 14-month high. The Nifty closed above the 4,700 mark for the first time since June 6, 2008. The rally was led by auto, realty, metal and oil & gas stocks. Good buying was also seen in power, capital goods and pharma stocks.
Stocks like Reliance, Infosys, ICICI Bank, L&T, SBI, BHEL, Reliance Comm and ONGC were the positive contributors to the Sensex and the Nifty.
The BSE midcap and smallcap indices closed up 2.3% and 1.69% respectively.
The Sensex closed up 253.92 points or 1.62% at 15924.23, and the Nifty was up 74.95 points or 1.62% at 4711.40.
About 1801 shares advanced, 1034 shares declined, and 337 shares were unchanged.
The BSE auto index closed up 4.60% or 262.77 points at 5976.45. Stocks like Bharat Forge, Amtek Auto, Cummins, Mah and Mah and Bajaj Auto were up 6-18%.
The BSE realty index was up 4.19% or 163.73 points at 4072.49. Stocks like Phoenix Mills, Mahindra Life, Anant Raj Ind, Indiabulls Real and Peninsula Land were up 6-9%.
The BSE metal index was up 3.41% or 422.76 points at 12818.02. Stocks like Hindalco, JSW Steel, Hind Zinc, Jindal Saw and Tata Steel were up 4-8%.
The BSE power index was up 2.19% or 65.17 points at 3,035.63. Stocks like BHEL, Tata Power, Torrent Power, ABB and Lanco Infratech were up 2-5%.
The BSE oil & gas index was up 2.04% or 192.99 points at 9,673.08. Stocks like Aban Offshore, Cairn India, Reliance, Reliance Petro and ONGC were up 1-9%.
The BSE capital goods index was up 1.82% or 229.28 points 12,825.22. Stocks like Praj Industries, Usha Martin, BHEL, ABB and Alstom Projects were up 4-10%.
The BSE healthcare index was up 1.41% or 53.54 points 3,858.59. Stocks like Biocon, Aurobindo Pharma, Opto Circuits, Piramal Health and Bilcare were up 2-10%.
The BSE bankex was up 1.20% or 101.93 points at 8,567.69. Stocks like IOB, Karnataka Bank, Oriental Bank, IDBI Bank and Allahabad Bank closed up 2-3%.
The BSE IT index was up 0.99% or 39.37 points at 4,001.49. Stocks liek Mphasis, Patni Computer, Financial Tech, HCL Tech and Aptech were up 5-8%.
However, the BSE FMCG index was down 0.71% or 19.45 points at 2,718.70. Stocks like HUL, Nestle, Britannia, Marico and Colgate were down 1-2%.
Volumes were lower; total traded turnover stood at Rs 73090.81 crore. This included Rs 16687.11 crore from the NSE cash segment, Rs 50805.16 crore from the NSE F&O segment and the balance Rs 5598.54 crore from the BSE cash segment.
Nifty @ 14-month high; RIL, BHEL, Rel Comm, ONGC surge
At 15.02 hrs IST, the Nifty touched 2009 high and was trading with over 1% gains at 4695. It was trading at 14-month high. The positive contributors to the Nifty were Reliance, BHEL, Reliance Comm, ONGC and Sterlite Ind. Good buying was seen in auto, realty, metal, power, oil & gas, capital goods and pharma stocks.
The BSE midcap and smallcap indices were up 2.27% and 1.62% respectively.
The Sensex was up 164.92 points or 1.05% at 15835.23, and the Nifty was up 59.10 points or 1.27% at 4695.55.
About 1682 shares have advanced, 1133 shares declined, and 357 shares are unchanged.
Top gainers on the bourses were Hindalco up 5.74% at Rs 105.95, Mah and Mah up 5.39% at Rs 903, BHEL up 4.56% at Rs 2,329.70, Tata Steel up 4.28% at Rs 482.50, Sterlite Ind up 4.19% at Rs 672, HCL Tech up 4.98% at Rs 253. and NALCO up 4.73% at Rs 323.20.
However, top losers on the bourses were HUL down 2.56% at Rs 283.75, HDFC Bank down 1.24% Rs 1,480.95, ITC down 0.98% at Rs 247.60, Bharti Airtel down 0.66% at Rs 407.85, Wipro down 0.28% at Rs 489.30, Suzlon Energy down 4.21% at Rs 95.60, BPCL down 1.76% at Rs 465.65, GAIL down 1.14% at Rs 328.15 and Ambuja Cements down 0.88% at Rs 107.55.
Sensex gains further; auto, realty, metal surge
At 13.55 hrs IST, the Sensex gained further and was inching towards the 15800 mark. Strong buying was seen in auto, realty, metal, power, capital goods, pharma and oil & gas stocks. RIL, L&T, Bharti Airtel, SBI and ONGC were positive contributors to the Sensex.
The Sensex was up 120.66 points or 0.77% at 15790.97, and the Nifty was up 39.45 points or 0.85% at 4675.90.
The advanced- declined ratio was in favour of advances; about 1608 shares advanced, 1182 shares declined, and 381 shares were unchanged.
The selling pressure was seen in the consumer durable, bank and FMCG space.
Hindalco, Tata Power, BHEL, Mahindra and Mahindra, Maruti Suzuki and NALCO were the top gainer on the indices, with 4-6% gain. However, top losers were HUL, IDFC Bank, Reliance Infra, HDFC, ITC, Suzlon Energy, BPCL, GAIL and HDFC Bank.
The midcap and smallcap indices were trading with 1.5% gain.
Nifty holds 4650; RIL, L&T, Bharti Airtel, SBI lead
At 13.00 hrs IST, the Sensex was trading with positive bias. Stocks like Reliance, L&T, Bharti Airtel, SBI and BHEL were the positive contributors to the Sensex. However, Infosys, ICICI Bank, ITC, HDFC and HDFC Bank were the negative contributors. The BSE auto index outperformed all the other sectoral indices, it was up nearly 3%.
The Sensex was up 63.95 points or 0.41% at 15734.26, and the Nifty was up 23.35 points or 0.50% at 4659.80.
About 1530 shares advanced, 1234 shares declined, and 407 shares were unchanged.
Sanjeev Prasad, Executive Director and Co-Head, Kotak Institutional Equities, didn't see significant re-rating of companies post the Q1 FY10 earnings. "We are looking at Sensex earnings per share of about Rs 1,075 for FY11." According to him, the market was trading at 17.7 and 15 times FY10 and FY11 earnings per share respectively. "We need serious upgrades for the market to sustain,” he added.
Good buying interest was seen in realty, metal, pharma, oil & gas and capital goods stocks while FMCG and banks stocks were trading weak.
Top gainers on the Sensex were BHEL at Rs 2,310.10 up 3.68%, Sterlite Ind at Rs 668.50 up 3.65%, Maruti Suzuki at Rs 1,463.30 up 3.54%, Hindalco at Rs 103.70 up 3.49% and Reliance Comm at Rs 284.35 up 3.16%.
However, top losers on the Sensex were HUL at Rs 283.65 down 2.59%, HDFC Bank at Rs 1,473.25 down 1.76%, HDFC at Rs 2,491 down 1.58%, Reliance Infra at Rs 1,190.20 down 1.24% and ITC at Rs 247 down 1.22%.
Top gainers on the BSE Midcap - Bharat Forge, Phoenix Mills, Bajaj Holdings, United Breweries and Anant Raj Ind were up 8-10%.
Top gainers on the BSE Smallcap - Empee Distiller, Allied Digital, Elgi Equipments, Sanghi Ind and CMI FPE were up 10-20%.
Nifty volatile; RIL, Rel Comm, BHEL up
At 11.53 am, the Nifty was volatile in tarde and was hovering around the 4650 mark. Auto, realty, metal oil & gas and pharma stocks were trading with some gains. Reliance, Reliance Comm, BHEL, Maruti Suzuki and Cairn India were the positive contributors to the Nifty. However, FMCG and consumer durable stocks were trading weak.
At 11.53 am, the Sensex was up 52 points at 15722, and the Nifty was up 18 points at 4654.60.
Top gainers on the Sensex were Reliance Communication, Maruti Suzuki, Hindalco, Sterlite Industries and Tata Steel.
The first quarter earning season just went by springing some pleasant and welcome surprises. Commenting on corporate India’s performance, Raamdeo Agrawal, Director and Co Founder of Motilal Oswal said that there were many positive surprises from the Q1 results, adding that he expected 2-3% earnings upgrades for FY10 results. He said that there was some uncertainty about the FY11 numbers due to Reliance Industries, which had unfortunately disappointed the street this quarter. Agarwal further said that the auto industry would sustain 12-15% of volume growth.
Reliance Comm, Maruti Suzuki, Cairn India, Unitech and Hindalco were the top gainers on the Nifty.
However, top losers on the Nifty were Suzlon Energy, HUL, Tata Comm, BPCL and HDFC Bank.
The most active shares on NSE were Aban Offshore, Suzlon Energy, Unitech, DLF and Tata Steel.
Top percentage gainers on the NSE were Empee Distiller at Rs 117.55 up 20.01%, TVS Srichakra at Rs 118.80 up 20.00%, Tips Industries at Rs 48.90 up 18.26%, Wanbury at Rs 69.50 up 17.40% and Bharat Gears at Rs 37.05 up 15.24%.
Sensex hovers around 15700; auto, metal, oil & gas up
At 10.40 am, the Sensex was volatile and was hovering around the 15700 mark. Buying interest was seen in auto, metal, oil & gas, pharma and capital goods stocks. However, FMCG, realty and banking stocks were witnessing selling pressure. The BSE midcap and smallcap indices were trading with half a percent gain.
At 10.40 am, the Sensex was down 13 points at 15656.31, and the Nifty was down 1 point at 4635.
Jagdish Malkani, Taib India, said the market undertone continued to be positive and the Nifty could go up to 4800 levels. "But the run has been too fast & I expect bouts of volatility. Valuations look expensive at current levels," he added.
HUL, DLF, HDFC Bank, JP Associates, Reliance Infra, HDFC were the top losers on the Sensex.
However, Sterlite Industries, Hindalco, Reliance Comm, Tata Steel and M&M were the top gainers on the Sensex.
Sensex choppy in early trade; Suzlon crashes on bad nos
The Sensex opened higher and continued Friday's rally further. However, the markets were volatile in trade. Metal and oil & gas exploration and pharma were the gainers in the early trade.
At 9:58 hours IST, the Nifty rose 13 points, to 4,649 and the Sensex was up 45 points at 15,715. The CNX Midcap was up 11 points at 5,961 and the BSE Smallcap Index rose 30 points, to 6,236. About 488 shares advanced while 196 shares declined on the NSE.
Among the frontliners, Cairn, Tata Power, Hindalco Industries, Reliance Power, Maruti, HCL Tech, Sterlite, Ranbaxy Labs, Reliance Communication, ONGC, Sun Pharma and Bharti Airtel were the gainers.
However, Suzlon Energy lost 7%, as the company reported loss of Rs 453 crore. Reliance Capital was down 2.25% on weak numbers.
BPCL, Tata Motors, HUL and ICICI Bank were the other losers.
Midcap space
Excel Infoways listed at Rs 86 on the NSE and Rs 93.05 on the BSE.
GMR Infra lost 3%. Hotel Leela and Indian Hotel were down 2%.
Divis Labs lost 6.7% on bad results. Maytas Infra lost 5%.
Rolta was down 1.5% ahead of numbers. However, Aban Offshore was up 3% on the back of better-than-expectations numbers.
Global Cues:
Asian markets were trading mixed. Shanghai, Hang Seng, Jakarta and Kospi were up 0.5-1.1%. However, Taiwan Weighted fell 0.4% and Straits Times down 0.25%. Nikkei was flat.
Market cues:
-FIIs net buy USD 244 million on July 30
-DIIs net sell Rs 49.2 crore July 30
-Total F&O Open Interest up by Rs 3,258 crore to Rs 59,893 crore
-FIIs net buy Rs 582 crore in Cash on July 31 (Prov)
-DIIs net buy Rs 316 crore in Cash July 31 (Prov)
-FIIs ney by Rs 660 crore in F&O July 31
F&O cues:
-Total Futures Open Int up by Rs 1372 crore and Total Options Open Int up by Rs 1886 crore
-Nifty up 1.4%, Futures Open Int up 4%
-Nifty August Futures traded at 1- pt premium
-Nifty IVs at 34-36%
-Nifty Open Int Put Call Ratio up from 0.95 to 0.98
-Nifty Puts add 18.9 lakh shares
-Nifty Calls add 10.9 lakh shares
-Nifty 4600 Puts add 6 lakh shares in Open Int
-Nifty 4800 Calls add 3.6 lakh shares in Open Int
-Nifty 4900 Calls add 3.54 lakh shares in Open Int
-Nifty 4600 Call sheds 2.9 lakh shares in Open Int
-Stock Futures add 3.3 cr shares in Open Interest
Stocks like Reliance, Infosys, ICICI Bank, L&T, SBI, BHEL, Reliance Comm and ONGC were the positive contributors to the Sensex and the Nifty.
The BSE midcap and smallcap indices closed up 2.3% and 1.69% respectively.
The Sensex closed up 253.92 points or 1.62% at 15924.23, and the Nifty was up 74.95 points or 1.62% at 4711.40.
About 1801 shares advanced, 1034 shares declined, and 337 shares were unchanged.
The BSE auto index closed up 4.60% or 262.77 points at 5976.45. Stocks like Bharat Forge, Amtek Auto, Cummins, Mah and Mah and Bajaj Auto were up 6-18%.
The BSE realty index was up 4.19% or 163.73 points at 4072.49. Stocks like Phoenix Mills, Mahindra Life, Anant Raj Ind, Indiabulls Real and Peninsula Land were up 6-9%.
The BSE metal index was up 3.41% or 422.76 points at 12818.02. Stocks like Hindalco, JSW Steel, Hind Zinc, Jindal Saw and Tata Steel were up 4-8%.
The BSE power index was up 2.19% or 65.17 points at 3,035.63. Stocks like BHEL, Tata Power, Torrent Power, ABB and Lanco Infratech were up 2-5%.
The BSE oil & gas index was up 2.04% or 192.99 points at 9,673.08. Stocks like Aban Offshore, Cairn India, Reliance, Reliance Petro and ONGC were up 1-9%.
The BSE capital goods index was up 1.82% or 229.28 points 12,825.22. Stocks like Praj Industries, Usha Martin, BHEL, ABB and Alstom Projects were up 4-10%.
The BSE healthcare index was up 1.41% or 53.54 points 3,858.59. Stocks like Biocon, Aurobindo Pharma, Opto Circuits, Piramal Health and Bilcare were up 2-10%.
The BSE bankex was up 1.20% or 101.93 points at 8,567.69. Stocks like IOB, Karnataka Bank, Oriental Bank, IDBI Bank and Allahabad Bank closed up 2-3%.
The BSE IT index was up 0.99% or 39.37 points at 4,001.49. Stocks liek Mphasis, Patni Computer, Financial Tech, HCL Tech and Aptech were up 5-8%.
However, the BSE FMCG index was down 0.71% or 19.45 points at 2,718.70. Stocks like HUL, Nestle, Britannia, Marico and Colgate were down 1-2%.
Volumes were lower; total traded turnover stood at Rs 73090.81 crore. This included Rs 16687.11 crore from the NSE cash segment, Rs 50805.16 crore from the NSE F&O segment and the balance Rs 5598.54 crore from the BSE cash segment.
Nifty @ 14-month high; RIL, BHEL, Rel Comm, ONGC surge
At 15.02 hrs IST, the Nifty touched 2009 high and was trading with over 1% gains at 4695. It was trading at 14-month high. The positive contributors to the Nifty were Reliance, BHEL, Reliance Comm, ONGC and Sterlite Ind. Good buying was seen in auto, realty, metal, power, oil & gas, capital goods and pharma stocks.
The BSE midcap and smallcap indices were up 2.27% and 1.62% respectively.
The Sensex was up 164.92 points or 1.05% at 15835.23, and the Nifty was up 59.10 points or 1.27% at 4695.55.
About 1682 shares have advanced, 1133 shares declined, and 357 shares are unchanged.
Top gainers on the bourses were Hindalco up 5.74% at Rs 105.95, Mah and Mah up 5.39% at Rs 903, BHEL up 4.56% at Rs 2,329.70, Tata Steel up 4.28% at Rs 482.50, Sterlite Ind up 4.19% at Rs 672, HCL Tech up 4.98% at Rs 253. and NALCO up 4.73% at Rs 323.20.
However, top losers on the bourses were HUL down 2.56% at Rs 283.75, HDFC Bank down 1.24% Rs 1,480.95, ITC down 0.98% at Rs 247.60, Bharti Airtel down 0.66% at Rs 407.85, Wipro down 0.28% at Rs 489.30, Suzlon Energy down 4.21% at Rs 95.60, BPCL down 1.76% at Rs 465.65, GAIL down 1.14% at Rs 328.15 and Ambuja Cements down 0.88% at Rs 107.55.
Sensex gains further; auto, realty, metal surge
At 13.55 hrs IST, the Sensex gained further and was inching towards the 15800 mark. Strong buying was seen in auto, realty, metal, power, capital goods, pharma and oil & gas stocks. RIL, L&T, Bharti Airtel, SBI and ONGC were positive contributors to the Sensex.
The Sensex was up 120.66 points or 0.77% at 15790.97, and the Nifty was up 39.45 points or 0.85% at 4675.90.
The advanced- declined ratio was in favour of advances; about 1608 shares advanced, 1182 shares declined, and 381 shares were unchanged.
The selling pressure was seen in the consumer durable, bank and FMCG space.
Hindalco, Tata Power, BHEL, Mahindra and Mahindra, Maruti Suzuki and NALCO were the top gainer on the indices, with 4-6% gain. However, top losers were HUL, IDFC Bank, Reliance Infra, HDFC, ITC, Suzlon Energy, BPCL, GAIL and HDFC Bank.
The midcap and smallcap indices were trading with 1.5% gain.
Nifty holds 4650; RIL, L&T, Bharti Airtel, SBI lead
At 13.00 hrs IST, the Sensex was trading with positive bias. Stocks like Reliance, L&T, Bharti Airtel, SBI and BHEL were the positive contributors to the Sensex. However, Infosys, ICICI Bank, ITC, HDFC and HDFC Bank were the negative contributors. The BSE auto index outperformed all the other sectoral indices, it was up nearly 3%.
The Sensex was up 63.95 points or 0.41% at 15734.26, and the Nifty was up 23.35 points or 0.50% at 4659.80.
About 1530 shares advanced, 1234 shares declined, and 407 shares were unchanged.
Sanjeev Prasad, Executive Director and Co-Head, Kotak Institutional Equities, didn't see significant re-rating of companies post the Q1 FY10 earnings. "We are looking at Sensex earnings per share of about Rs 1,075 for FY11." According to him, the market was trading at 17.7 and 15 times FY10 and FY11 earnings per share respectively. "We need serious upgrades for the market to sustain,” he added.
Good buying interest was seen in realty, metal, pharma, oil & gas and capital goods stocks while FMCG and banks stocks were trading weak.
Top gainers on the Sensex were BHEL at Rs 2,310.10 up 3.68%, Sterlite Ind at Rs 668.50 up 3.65%, Maruti Suzuki at Rs 1,463.30 up 3.54%, Hindalco at Rs 103.70 up 3.49% and Reliance Comm at Rs 284.35 up 3.16%.
However, top losers on the Sensex were HUL at Rs 283.65 down 2.59%, HDFC Bank at Rs 1,473.25 down 1.76%, HDFC at Rs 2,491 down 1.58%, Reliance Infra at Rs 1,190.20 down 1.24% and ITC at Rs 247 down 1.22%.
Top gainers on the BSE Midcap - Bharat Forge, Phoenix Mills, Bajaj Holdings, United Breweries and Anant Raj Ind were up 8-10%.
Top gainers on the BSE Smallcap - Empee Distiller, Allied Digital, Elgi Equipments, Sanghi Ind and CMI FPE were up 10-20%.
Nifty volatile; RIL, Rel Comm, BHEL up
At 11.53 am, the Nifty was volatile in tarde and was hovering around the 4650 mark. Auto, realty, metal oil & gas and pharma stocks were trading with some gains. Reliance, Reliance Comm, BHEL, Maruti Suzuki and Cairn India were the positive contributors to the Nifty. However, FMCG and consumer durable stocks were trading weak.
At 11.53 am, the Sensex was up 52 points at 15722, and the Nifty was up 18 points at 4654.60.
Top gainers on the Sensex were Reliance Communication, Maruti Suzuki, Hindalco, Sterlite Industries and Tata Steel.
The first quarter earning season just went by springing some pleasant and welcome surprises. Commenting on corporate India’s performance, Raamdeo Agrawal, Director and Co Founder of Motilal Oswal said that there were many positive surprises from the Q1 results, adding that he expected 2-3% earnings upgrades for FY10 results. He said that there was some uncertainty about the FY11 numbers due to Reliance Industries, which had unfortunately disappointed the street this quarter. Agarwal further said that the auto industry would sustain 12-15% of volume growth.
Reliance Comm, Maruti Suzuki, Cairn India, Unitech and Hindalco were the top gainers on the Nifty.
However, top losers on the Nifty were Suzlon Energy, HUL, Tata Comm, BPCL and HDFC Bank.
The most active shares on NSE were Aban Offshore, Suzlon Energy, Unitech, DLF and Tata Steel.
Top percentage gainers on the NSE were Empee Distiller at Rs 117.55 up 20.01%, TVS Srichakra at Rs 118.80 up 20.00%, Tips Industries at Rs 48.90 up 18.26%, Wanbury at Rs 69.50 up 17.40% and Bharat Gears at Rs 37.05 up 15.24%.
Sensex hovers around 15700; auto, metal, oil & gas up
At 10.40 am, the Sensex was volatile and was hovering around the 15700 mark. Buying interest was seen in auto, metal, oil & gas, pharma and capital goods stocks. However, FMCG, realty and banking stocks were witnessing selling pressure. The BSE midcap and smallcap indices were trading with half a percent gain.
At 10.40 am, the Sensex was down 13 points at 15656.31, and the Nifty was down 1 point at 4635.
Jagdish Malkani, Taib India, said the market undertone continued to be positive and the Nifty could go up to 4800 levels. "But the run has been too fast & I expect bouts of volatility. Valuations look expensive at current levels," he added.
HUL, DLF, HDFC Bank, JP Associates, Reliance Infra, HDFC were the top losers on the Sensex.
However, Sterlite Industries, Hindalco, Reliance Comm, Tata Steel and M&M were the top gainers on the Sensex.
Sensex choppy in early trade; Suzlon crashes on bad nos
The Sensex opened higher and continued Friday's rally further. However, the markets were volatile in trade. Metal and oil & gas exploration and pharma were the gainers in the early trade.
At 9:58 hours IST, the Nifty rose 13 points, to 4,649 and the Sensex was up 45 points at 15,715. The CNX Midcap was up 11 points at 5,961 and the BSE Smallcap Index rose 30 points, to 6,236. About 488 shares advanced while 196 shares declined on the NSE.
Among the frontliners, Cairn, Tata Power, Hindalco Industries, Reliance Power, Maruti, HCL Tech, Sterlite, Ranbaxy Labs, Reliance Communication, ONGC, Sun Pharma and Bharti Airtel were the gainers.
However, Suzlon Energy lost 7%, as the company reported loss of Rs 453 crore. Reliance Capital was down 2.25% on weak numbers.
BPCL, Tata Motors, HUL and ICICI Bank were the other losers.
Midcap space
Excel Infoways listed at Rs 86 on the NSE and Rs 93.05 on the BSE.
GMR Infra lost 3%. Hotel Leela and Indian Hotel were down 2%.
Divis Labs lost 6.7% on bad results. Maytas Infra lost 5%.
Rolta was down 1.5% ahead of numbers. However, Aban Offshore was up 3% on the back of better-than-expectations numbers.
Global Cues:
Asian markets were trading mixed. Shanghai, Hang Seng, Jakarta and Kospi were up 0.5-1.1%. However, Taiwan Weighted fell 0.4% and Straits Times down 0.25%. Nikkei was flat.
Market cues:
-FIIs net buy USD 244 million on July 30
-DIIs net sell Rs 49.2 crore July 30
-Total F&O Open Interest up by Rs 3,258 crore to Rs 59,893 crore
-FIIs net buy Rs 582 crore in Cash on July 31 (Prov)
-DIIs net buy Rs 316 crore in Cash July 31 (Prov)
-FIIs ney by Rs 660 crore in F&O July 31
F&O cues:
-Total Futures Open Int up by Rs 1372 crore and Total Options Open Int up by Rs 1886 crore
-Nifty up 1.4%, Futures Open Int up 4%
-Nifty August Futures traded at 1- pt premium
-Nifty IVs at 34-36%
-Nifty Open Int Put Call Ratio up from 0.95 to 0.98
-Nifty Puts add 18.9 lakh shares
-Nifty Calls add 10.9 lakh shares
-Nifty 4600 Puts add 6 lakh shares in Open Int
-Nifty 4800 Calls add 3.6 lakh shares in Open Int
-Nifty 4900 Calls add 3.54 lakh shares in Open Int
-Nifty 4600 Call sheds 2.9 lakh shares in Open Int
-Stock Futures add 3.3 cr shares in Open Interest
MONEY MORNING - 3-Aug-09
Wall Street stayed in the green for much of the day after the Q2 GDP
showed a less than expected contraction. The key benchmark indices
Dow Jones was up by 0.19% and NASDAQ was down by 0.29%. The
Asian bourses are trading positive with Nikkei up by 0.03%, Hang Seng
up by 0.88% and Singapore Nifty up by 0.13%.
Considering Global cues, the domestic bourses are likely to trade range
bound. Technically spot nifty may take resistance at 4680/4725/4820
levels and support at 4580/4525/4430 levels.
POST-MARKET ANALYSIS:
Recovery in IT, FMCG, banks and real estate stocks helped Indian
markets to show positive close yesterday. However, the key benchmark
indices pared gains in mid-afternoon trade as European stocks
declined. Sensex and Nifty were up by 1.83% and 1.42% respectively.
FIIs’ were net buyers both in equity and derivatives.
ADRs: Tata comm. (-4.68%), MTNL (-3.66%), Satyam Computers (-
2.33%) and Patni Computers (+2.35%).
NEWS TO USE:
ONGC has begun an ambitious exploration programme in the Kerala–
Konkan basin from today, engaging an ultra-deepwater drill ship. With a
Rs 400-crore investment outlay, the company has charted an
exploration programme to be completed within 100 days.
RELIANCE INFRASTRUCTURE order-book position was all set to
cross the Rs 50,000-crore mark.
JAIPRAKASH ASSOCIATES will invest Rs. 1,050 crore for setting up a
greenfield cement plant in Assam.
M&M has opened its new 3-S (sales, service and spare parts)
infrastructure facility in Hyderabad.
SAIL has registered 14% growth in production of steel to over 1 million
tonnes during July over the year-ago period.
TATA MOTORS will deliver up to 60,000 units of the Nano, which is touted as the world's cheapest car, by July
next year while remaining committed to handing over the first one lakh cars by 2010 once its mother plant in
Sanand goes on stream.
RCOM consolidated Net profit increased by 8.23% (YoY) to Rs 1636.61 crore as against Rs 1512.15 crore in
Q1FY10. Net Sales increased by 5.28% (YoY) to Rs 5505.49 crore as against Rs 5229.47 crore.
NEUTRAL
TATA STEEL has prepared a plan to produce half the iron ore and coking coal — the raw materials used to
make steel — for Corus, its European subsidiary, by 2012.
TATA MOTORS edged closer to signing a financial aid package with the British government for its struggling
UK subsidiary Jaguar Land Rover.
PFC will soon approach banks and financial institutions to raise Rs 90,000 crore as part of the National
Electricity Fund, which was set up for the development of the power sector.
BAJAJ AUTO will launch its second new motorcycle for the year.
The government may soon levy a 10% royalty on iron ore on ad valorem basis as the mines ministry has sent a
proposal in this regard to the Union Cabinet for its approval.
BHARTI AIRTEL and South Africa's MTN are likely to announce the status this week of the proposed merger to
create a $23-billion entity as period for exclusive talks between them expired on July 31.
KOTAK MAHINDRA BANK has decided to reduce its unsecured loans in the months ahead but has ruled out
the possibility of winding up the portfolio completely.
ALLAHABAD BANK has raised Rs 450-crore worth tier-II capital with a view to fund its growth needs and
shore up its capital adequacy ratio.
TCS and WIPRO, apart from several others, are in pursuit of up to Rs 2,500-crore outsourcing contract at
Indian Railways.
JK TYRE could soon join the bandwagon of radial tyre companies setting up shops near Chennai.
GAMMON INDIA standalone Net profit decreased by 52.20% (YoY) to Rs 25.06 crore as against Rs 52.43
crore in Q1FY10. Net Sales increased by 45.32% (YoY) to Rs 850.45 crore as against Rs 585.24 crore.
NEGATIVE
ORCHID CHEM reported standalone Net loss of Rs 29.76 crore as against Net loss of Rs 31.65 crore in
Q1FY10. Net Sales increased by 6.31% (YoY) to Rs 305.82 crore as against Rs 287.66 crore.
PURAVANKARA PROJECT consolidated Net profit decreased by 83.45% (YoY) to Rs 10.24 crore as against
Rs 61.89 crore in Q1FY10. Net Sales decreased by 64.48% (YoY) to Rs 55.97 crore as against Rs 157.58
crore.
ADLABSFILM reported standalone Net loss of Rs 63.70 (YoY) crore as against Rs 2.32 crore in Q1FY10. Net
Sales decreased by 54.84% (YoY) to Rs 103.41 crore as against Rs 228.97 crore.
showed a less than expected contraction. The key benchmark indices
Dow Jones was up by 0.19% and NASDAQ was down by 0.29%. The
Asian bourses are trading positive with Nikkei up by 0.03%, Hang Seng
up by 0.88% and Singapore Nifty up by 0.13%.
Considering Global cues, the domestic bourses are likely to trade range
bound. Technically spot nifty may take resistance at 4680/4725/4820
levels and support at 4580/4525/4430 levels.
POST-MARKET ANALYSIS:
Recovery in IT, FMCG, banks and real estate stocks helped Indian
markets to show positive close yesterday. However, the key benchmark
indices pared gains in mid-afternoon trade as European stocks
declined. Sensex and Nifty were up by 1.83% and 1.42% respectively.
FIIs’ were net buyers both in equity and derivatives.
ADRs: Tata comm. (-4.68%), MTNL (-3.66%), Satyam Computers (-
2.33%) and Patni Computers (+2.35%).
NEWS TO USE:
ONGC has begun an ambitious exploration programme in the Kerala–
Konkan basin from today, engaging an ultra-deepwater drill ship. With a
Rs 400-crore investment outlay, the company has charted an
exploration programme to be completed within 100 days.
RELIANCE INFRASTRUCTURE order-book position was all set to
cross the Rs 50,000-crore mark.
JAIPRAKASH ASSOCIATES will invest Rs. 1,050 crore for setting up a
greenfield cement plant in Assam.
M&M has opened its new 3-S (sales, service and spare parts)
infrastructure facility in Hyderabad.
SAIL has registered 14% growth in production of steel to over 1 million
tonnes during July over the year-ago period.
TATA MOTORS will deliver up to 60,000 units of the Nano, which is touted as the world's cheapest car, by July
next year while remaining committed to handing over the first one lakh cars by 2010 once its mother plant in
Sanand goes on stream.
RCOM consolidated Net profit increased by 8.23% (YoY) to Rs 1636.61 crore as against Rs 1512.15 crore in
Q1FY10. Net Sales increased by 5.28% (YoY) to Rs 5505.49 crore as against Rs 5229.47 crore.
NEUTRAL
TATA STEEL has prepared a plan to produce half the iron ore and coking coal — the raw materials used to
make steel — for Corus, its European subsidiary, by 2012.
TATA MOTORS edged closer to signing a financial aid package with the British government for its struggling
UK subsidiary Jaguar Land Rover.
PFC will soon approach banks and financial institutions to raise Rs 90,000 crore as part of the National
Electricity Fund, which was set up for the development of the power sector.
BAJAJ AUTO will launch its second new motorcycle for the year.
The government may soon levy a 10% royalty on iron ore on ad valorem basis as the mines ministry has sent a
proposal in this regard to the Union Cabinet for its approval.
BHARTI AIRTEL and South Africa's MTN are likely to announce the status this week of the proposed merger to
create a $23-billion entity as period for exclusive talks between them expired on July 31.
KOTAK MAHINDRA BANK has decided to reduce its unsecured loans in the months ahead but has ruled out
the possibility of winding up the portfolio completely.
ALLAHABAD BANK has raised Rs 450-crore worth tier-II capital with a view to fund its growth needs and
shore up its capital adequacy ratio.
TCS and WIPRO, apart from several others, are in pursuit of up to Rs 2,500-crore outsourcing contract at
Indian Railways.
JK TYRE could soon join the bandwagon of radial tyre companies setting up shops near Chennai.
GAMMON INDIA standalone Net profit decreased by 52.20% (YoY) to Rs 25.06 crore as against Rs 52.43
crore in Q1FY10. Net Sales increased by 45.32% (YoY) to Rs 850.45 crore as against Rs 585.24 crore.
NEGATIVE
ORCHID CHEM reported standalone Net loss of Rs 29.76 crore as against Net loss of Rs 31.65 crore in
Q1FY10. Net Sales increased by 6.31% (YoY) to Rs 305.82 crore as against Rs 287.66 crore.
PURAVANKARA PROJECT consolidated Net profit decreased by 83.45% (YoY) to Rs 10.24 crore as against
Rs 61.89 crore in Q1FY10. Net Sales decreased by 64.48% (YoY) to Rs 55.97 crore as against Rs 157.58
crore.
ADLABSFILM reported standalone Net loss of Rs 63.70 (YoY) crore as against Rs 2.32 crore in Q1FY10. Net
Sales decreased by 54.84% (YoY) to Rs 103.41 crore as against Rs 228.97 crore.
Saturday, August 1, 2009
SENSEX CLOSES AT 2009 HIGH; UP 282 POINTS
Buoyed by good corporate results, Sensex touched its 2009 high, closing 1.8% up at 15670. Nifty closed at 4636, up 65 months.
The Sensex witnessed huge buying interest on the first day of the August series and closed July month on a strong note, up 8% during the month. It closed at 13-month high on the back of strong earnings and global cues. The Nifty closed above the 4600 level. The upsurge in shares of oil & gas exploration, banking, FMCG, capital goods, metal and select pharma companies supported the markets throughout the session.
The indices saw some blip around 14:15 hours IST due to realty stocks, Bharti Airtel, TCS, Reliance Communication, Hero Honda, SAIL, BPCL and Unitech. But in the last one hour of the trade, they gained more strength again. The 30-share BSE Sensex surged 282.35 points or 1.83%, to settle at 15,670.31, after seeing an intraday high of 15,732.81. Its previous closing high in the last 13 months was at 15,503.92
The 50-share NSE Nifty shut shop at 4636.45, up 1.42% or 65 points over previous close, after seeing a day's high of 4669.75.
Both the indices gained 8% each for the month and up 1.5-1.9% for the week. The BSE Auto, Realty, FMCG and IT were the strong sectors this month, their indices were up 25%, 22%, 21% and 20%, respectively. The Nifty August futures closed with 17 points premium (provisional figures).
ONGC and SBI were the star performers of the day, both surged 5-6% on the back of institutional buying. Deven Choksey of KR Choksey Securities said the market looked little bit promising and some of the heavyweights started taking up the positions in the market and that included Oil & Natural Gas Corporation (ONGC). "Some of the long only foreign institutional investors (FII) funds, who have started acting into the market, have started allotting funds to some of these large size market companies where the growth is now looking little bit more certain. That is where we are seeing the kind of buying also emerging from that side," he said.
SBI Q1 numbers were good on Thursday posted 42% jump in net profit. He added, "We are expecting that the market having gone up to 4,660 on the Nifty, probably may make some small correction. But thereafter probably it would go up because of higher allocation of funds and largely towards some of the heavyweight counters including those of banks like State Bank of India. So from that perspective, we are seeing the kind of buying continuing in coming days. Maybe we should be having some kind of profit booking in the beginning of the next week but thereafter one should see an upside continuing in the market."
Hindalco Industries surged 6.65% as the company's bottomline numbers were above the estimates though it was down 31% at Rs 480 crore versus Rs 696.8 crore, YoY. The markets expected around Rs 226 crore.
Adani Power initial public offering (IPO) witnessed huge investors' interest and was subscribed 21.59 times. The issue received bids for more than 537 crore shares as against the issue size of 30,16,52,031 shares. Its founder company, Adani Enterprises was up 0.33%.
The BSE FMCG Index outperformed other indices, surged 3%, as Nestle, United Spirits, HUL, Tata Tea, Britannia (Q1 net was up 17% and sales up 5%), ITC, Godrej Consumer and Ruchi Soya were up 2.5-6.4%.
The Oil & Gas Index went up 2.65% led by exploration companies. ONGC shot up 5.91% Aban Offshore, Essar Oil, Reliance Industries and Reliance Petroleum were up 2.5-4.5%. Cairn India was up 1.33%. Crude was up over 5% on Thursday. However, BPCL, HPCL, IOC and GAIL fell 1-3%.
Bankex was up 1.9% led by SBI, which rose over 5%. Kotak Mahindra, HDFC Bank, Bank of Baroda and Canara Bank were up 2-4%. ICICI Bank was up 0.5%.
In the technology space, Patni Computer surged another 10%, after seeing over 10% rally on Thursday (the company posted strong numbers for the quarter). Infosys rose 2.66% and Wipro up 0.43%. However, HCL Tech went down 1.7% and TCS fell 0.68%.
Metal stocks like Hindalco surged 6.65%. Sesa Goa, Sterlite Industries, Jindal Saw, Hindustan Zinc, Tata Steel and JSW Steel were up 1-3.8%. However, Jindal Steel fell 2.72%.
In the auto space, Bharat Forge jumped 10.27% and Tata Motors was up 6.61%. Maruti Suzuki, Apollo Tyres, M&M and Bajaj Auto went up 0.5-1%. However, Hero Honda was up 2.08%.
In the capital goods space, ABB, Punj Lloyd, Siemens, BHEL and L&T went up 1-1.7%.
Telecom stocks like Idea Cellular surged 4.23%. However, Bharti Airtel lost 3.06%. Today was the last day for Bharti-MTN talks and sources said that they could extend date for talks further. Reliance Communication slipped 2.11%.
In the power pack, Neyveli Lignite was up 5% and Reliance Infrastructure rose 1.69%. Tata Power, Torrent Power and Suzlon Energy gained 0.5% each. However, Lanco Infratech lost 2.84%. GVK Power, GMR Infra, NTPC, Power Grid Corp and Reliance Power slipped 0.5-1%.
Pharma stocks like Ranbaxy Labs, Sun Pharma, Biocon, Apollo Hospital and Glenmark went up 1-2.5%. However, Wockhardt lost 4.42%. Cipla, Dr Reddys Labs and Matrix Lab were down 0.5-1.3%.
However, realty stocks lost the ground today. Omaxe, Ackruti City, Unitech, Orbit Corporation, DLF and Indiabulls Real declined 1.4-3.5%.
Volumes were lower; total traded turnover stood at Rs 83,315.90 crore. This included Rs 19,894.54 crore from the NSE cash segment, Rs 57,151.46 crore from the NSE F&O segment and the balance Rs 6,269.90 crore from the BSE cash segment.
Among the broader indices, the BSE Midcap Index was up 1% and Smallcap Index was flat. About 1,452 shares advanced while 1,356 shares declined on the BSE. Nearly 363 shares remained unchanged.
Global cues:
At the time of closing of Indian equities, European markets and US futures were flat in trade.
Asian markets ended higher. Shanghai surged 2.7%. Hang Seng, Nikkei and Kospi were up 1.5-1.9%. Straits Times and Taiwan Weighted rose 0.7-0.9%.
Nifty holds 4600; oil exploration, banks, FMCG gain
At 15:07 hours IST - the Nifty gave up 1/2 of gains and was still holding above 4600 level. Heavyweights ONGC and SBI were up over 5%. Leading counters like Reliance Industries, HUL, Infosys, ITC, HDFC, HDFC Bank, Sterlite, BHEL, Tata Motors, Nalco, Idea, Tata Steel, Ambuja Cements, Hindalco and Maruti were trading higher.
However, heavyweight Bharti Airtel plunged over 4%; today is the last day of Bharti-MTN talks and sources believe that the company may extend further. Shares of power, realty and oil marketing companies were also under pressure.
The Nifty rose 48 points, to 4,620 and the Sensex gained 212 points at 15,600. About 1430 shares advanced while 1376 shares declined on the BSE. Nearly 365 shares were unchanged.
Sensex trades strong despite selling at higher levels
At 14:23 hours IST - the Sensex continued its uptrend on the back of buying in heavyweights, despite selling pressure at higher levels. Shares of oil & gas exploration, banking, FMCG, capital goods and select metal stocks were witnessing buying interest. Infosys, Tata Motors, HDFC, Idea Cellular, Reliance Capital, Sun Pharma, Reliance Infrastructure, Ambuja Cements, Maruti, Ranbaxy and Suzlon Energy were other gainers.
Hindalco and Nalco surged 2.5% and 4.8%, respectively, ahead of their Q1FY10 numbers.
However, on the losing side, heavyweight Bharti Airtel tumbled over 3.5%. Jindal Steel tanked 4%. TCS, Hero Honda, DLF, Reliance Communication, PNB, HCL Tech, BPCL and Unitech were down 1-1.8%. SAIL was down 0.5%.
The Nifty rose 41 points, to 4,612 and the Sensex went up 180 points, to 15,568. About 1432 shares advanced while 1370 shares declined on the BSE. Nearly 369 shares were unchanged.
Reliance Industries, Infosys, ICICI Bank, L&T, ITC, ONGC, SBI and HUL were leading counters.
In the midcap space, Godfrey Phillip, Sunteck Realty, Patni Computer, Max India and 3M India were up 6-14%. However, REI Six Ten, Simplex Infra, Atlas Copco, Dish TV India and Wockhardt were down 4-5.6%.
In the smallcap space, Sonata Software, Fresenius Kabi, Kirloskar Ferro, Kothari Product and Automotive Axle went up 10-12%. However, Vishal Info, Tanla Solutions, Vikas WSP, Arshiya International and Ganesh Housing fell 5-13%.
Nifty hovering around 4650; Nalco, ONGC, SBI up
At 13.05 hrs IST, the Nifty was trading with good gains. It was hovering around the 4650 mark. Buying interest was seen across all the sectors. The BSE FMCG index outperformed the other sectoral indices. Strong buying interest was seen in banks, oil & gas, capital goods, metal, IT, auto and power stocks. Reliance, Infosys, ICICI Bank, L&T and ITC were major contributors to the Sensex.
The Sensex was up 328.64 points or 2.14% at 15716.60, and the Nifty was up 85.30 points or 1.87% at 4656.75.
About 1657 shares advanced, 1117 shares declined, and 397 shares were unchanged.
Sandeepa Arora, of IIFL, India Infoline, said that the Nifty could hit 5,000 if it crossed 4,650–4,700. She said, in an interview to CNBC-TV18, “Earlier, we were between 4,000 and 4,500. I think you will see that moving upwards between 4,400 to maybe 4,800 or 5,000 even.
Top gainers on the Sensex were ONGC at Rs 1,166.35 up 6.08%, Tata Motors at Rs 416.00 up 5.21%, SBI at Rs 1,811.90 up 5.17%, Sterlite Ind at Rs 648.40 up 3.46% and ITC at Rs 251 up 3.38%.
Top gainers on the Nifty were NALCO at Rs 310.45 up 6.41%, ONGC at Rs 1,167.15 up 6.00%, SBI at Rs 1,812.15 up 5.19%, Tata Motors at Rs 415.95 up 5.18% and Idea Cellular at Rs 79.30 up 4.27%.
ABG Shipyard said it has increased stake in Great Offshore to 8% and revised open offer to Rs 450/share. The stock rose 2.5%. Great Offshore went up 2% and Bharati Shipyard rose over 1%.
Sensex trades strong; oil exploration, banks, FMCG lead
At 12:15 hours IST, the Nifty was trading strong and was holding the 4600 level, despite seeing profit booking at higher levels. Shares of oil & gas exploration, banking, FMCG, telecom (barring Bharti Airtel), capital goods and select metal stocks were witnessing buying interest.
However, selling in Bharti Airtel, Jindal Steel, Power Grid, NTPC, BPCL, ACC, PNB and Hero Honda was putting some pressure on the markets.
The Sensex rose 271 points, to 15,658 and the Nifty went up 71 points, to 4,643. The market breadth was positive; about 1714 shares advanced while 1046 shares declined on the BSE. Nearly 411 shares were unchanged. The broader indices have come off from highs and were up 1-1.4%.
In the oil & gas space, ONGC surged nearly 6%. Reliance Industries, Cairn India and Reliance Petroleum were up 1.5-2%. GAIL and IOC went up 0.5-0.6%.
Banking stocks like SBI shot up 4.80% as yesterday the company reported strong numbers for Q1FY10. Kotak Mahindra, HDFC Bank, ICICI Bank, Bank of Baroda and Axis Bank moved up 1.5-4.5%. Federal Bank was up 3.22% on good Q1FY10 numbers.
FMCG stocks like Nestle, United Spirits, United Breweries, Ruchi Soya, Tata Tea, Britannia, ITC, HUL and Godrej Consumer were up 2-7.8%.
In the capital goods space, Siemens, Suzlon Energy, L&T, Punj Lloyd, BHEL and ABB gained 1-2.5%.
Metal stocks like Gujarat NRE Coke rose 5.09%. Sterlite Industries, Hindustan Zinc, Sesa Goa, JSW Steel, Tata Steel, Ispat Industries, Jindal Saw and Hindalco (ahead of numbers) were up 1.5-3.7%. NMDC and SAIL went up 0.6-0.9%.
Sensex gains strength; all sectoral indices in green
At 10:56 hours IST, the Sensex gained more strength on the first day of August series. It touched the 15,700 level on the back of huge buying in across the sectors, especially banking, auto, metal, oil & gas and capital goods stocks. The Nifty was trading above the 4650 level.
The broader indices were in line with the benchmark indices, gained 1.7-2.3%. The market breadth was strong; about 1901 shares advanced while 821 shares declined on the BSE. Nearly 449 shares were unchanged.
The Sensex surged 325 points, to 15,713 and the Nifty rose 92 points, to 4663. The Nifty August future was trading with 7 points premium.
On the sectoral front, the BSE Metal Index shot up 3%. Bank, Oil & Gas, Auto, Capital Goods, Realty and IT indices went up 2-2.7%. FMCG, TECk, Power and Healthcare indices gained 1-1.7%.
Reliance Industries, Infosys, ICICI Bank, L&T, ITC, ONGC and SBI were the leading counters.
Tata Motors, SBI, Sterlite, ONGC, Hindalco and NALCO were top gainers and surged over 4% each. However, Bharti and BPCL were the only losers.
In the midcap space, Sunteck Realty surged 16%. Godfrey Phillip, Patni Computer, India Infoline and Monnet Ispat moved up 7.7-10.7%.
In the smallcap space, Fresenius Kabi, Hinduja Venture, Marathon Nextgen, Kothari Product and Supreme Petro went up 8.5-13.5%.
Nifty trades above 4600; Sensex at 2009 highs
The markets opened strong following positive global cues and the Sensex was trading at 2009 highs. Heavyweights were witnessing huge buying interest. Shares of oil & gas exploration, auto, realty, metal and infrastructure stocks were supporting the markets.
At 9:56 am, the Nifty rose 76 points, to 4,647 and the Sensex gained 264 points at 15,652. The CNX Midcap surged 83 points, to 5,963 and the BSE Smallcap Index went up 82 points, to 6,286. About 660 shares advanced while 64 shares declined on the NSE.
Among the frontliners, Cairn (4% as crude surged 5%), Sterlite Industries, Suzlon (ahead of numbers), DLF, M&M, Tata Motors, Reliance Capital, SBI (on good numbers), L&T, ONGC, Tata Steel, Reliance Industries, Ranbaxy Labs, Hero Honda and HDFC were the gainers.
Midcap Space:
Lanco Infratech was up 0.4%, after doing successful QIP.
Deccan Chronicle was up 4.5% and PTC surged 5% on good numbers.
WWIL was up 2.5% and SEAMAC up 5% on good numbers.
Indiabulls Real, Parsvnath, HDIL, Sesa Goa and Gujarat NRE Coke were up 1-3%.
Adlabs lost 3%.
Global cues:
Asian markets were strong. Hang Seng rose 2%. Shanghai, Nikkei and Kospi were up 1.2-1.8%. Jakarta, Straits Times and Taiwan Weighted gained 0.4-0.8%.
The US markets hit 9-month high amid strong earnings and lower jobless claims, although slipped from the day's high. The Nasdaq hit 2,000 level in the intraday trade for the first time since October, 2008.
The Dow Jones Industrial Average was up 84 points at 9,154 and was off nearly 90 points from day's high of 9,247.
The S&P 500 Index rose 11.6 points at 987, after slipping 10 points from day's high of 997. The Nasdaq Composite gained 16.5 points to 1,984, after slipping 25 points from day's high of 2,010.
Commodities:
The Reuter CRB was up 3.98%, biggest gain since March 19.
Crude went up 5.5% at $67/bbl after dropping nearly 6% in the previous session.
Base metal recovered. Copper rose 4% to 10-month highs.
Lead went up 3%, Zinc gained 4% and Nickel up 5% to 10-month highs.
Gold was up 0.8% to $935/ounce and Silver rose 1.7% to $13.48/ounce.
Raw sugar made fresh 3-year high at 18.75cents/pound.
Market cues:
-FIIs net buy USD 28.7 million in equities on July 29
-MFs net sell Rs 292 crore in equities on July 29
-NSE F&O Aug series begins with Open Int of Rs 56,635 crore versus Rs 48,993 crore in July (16% higher)
-Value terms higher because Nifty has rallied 8% this series
-FIIs net buy Rs 367 crore in cash markets on July 30 (prov)
-DIIs net sell Rs 287 crore in cash markets on July 30 (prov)
-FIIs net sell Rs 339 crore in F&O on July 30
F&O cues:
-Initial Open Int July June
-Nifty Futures Open Int by Rs 10,552 crore versus Rs 9,069 crore
-Stock Futures Open Int Rs 22,135 crore versus Rs 19,861 crore
-Total Options Open Int Rs 23169 crore versus Rs 19,502 crore
-Market-wide rollover at 75% versus 77% last series
-Nifty Rollover at 69% versus 63% last series
-Nifty August futures trading at 1-point premium
-Strong Rollovers: Textiles (88%), Cement (85%), Power (85%)
-Weak Rollovers: Metals (71%), Sugar (72%), FMCG (75%)
-Nifty Open Int PCR starts at 0.95 (Same as last series beginning)
-Nifty Puts add 23.8 lakh, Calls add 21.9 lakh shares in Open Int
-Nifty Aug 4700 Call adds 7.3 lakh shares in Open Int
-Nifty Aug 4500 Put adds 5.3 lakh shares in Open Int
-Nifty Aug 4600 Call adds 5.2 lakh shares in Open Int
-Nifty Aug 5000 Call adds 3.7 lakh shares in Open Int
The Sensex witnessed huge buying interest on the first day of the August series and closed July month on a strong note, up 8% during the month. It closed at 13-month high on the back of strong earnings and global cues. The Nifty closed above the 4600 level. The upsurge in shares of oil & gas exploration, banking, FMCG, capital goods, metal and select pharma companies supported the markets throughout the session.
The indices saw some blip around 14:15 hours IST due to realty stocks, Bharti Airtel, TCS, Reliance Communication, Hero Honda, SAIL, BPCL and Unitech. But in the last one hour of the trade, they gained more strength again. The 30-share BSE Sensex surged 282.35 points or 1.83%, to settle at 15,670.31, after seeing an intraday high of 15,732.81. Its previous closing high in the last 13 months was at 15,503.92
The 50-share NSE Nifty shut shop at 4636.45, up 1.42% or 65 points over previous close, after seeing a day's high of 4669.75.
Both the indices gained 8% each for the month and up 1.5-1.9% for the week. The BSE Auto, Realty, FMCG and IT were the strong sectors this month, their indices were up 25%, 22%, 21% and 20%, respectively. The Nifty August futures closed with 17 points premium (provisional figures).
ONGC and SBI were the star performers of the day, both surged 5-6% on the back of institutional buying. Deven Choksey of KR Choksey Securities said the market looked little bit promising and some of the heavyweights started taking up the positions in the market and that included Oil & Natural Gas Corporation (ONGC). "Some of the long only foreign institutional investors (FII) funds, who have started acting into the market, have started allotting funds to some of these large size market companies where the growth is now looking little bit more certain. That is where we are seeing the kind of buying also emerging from that side," he said.
SBI Q1 numbers were good on Thursday posted 42% jump in net profit. He added, "We are expecting that the market having gone up to 4,660 on the Nifty, probably may make some small correction. But thereafter probably it would go up because of higher allocation of funds and largely towards some of the heavyweight counters including those of banks like State Bank of India. So from that perspective, we are seeing the kind of buying continuing in coming days. Maybe we should be having some kind of profit booking in the beginning of the next week but thereafter one should see an upside continuing in the market."
Hindalco Industries surged 6.65% as the company's bottomline numbers were above the estimates though it was down 31% at Rs 480 crore versus Rs 696.8 crore, YoY. The markets expected around Rs 226 crore.
Adani Power initial public offering (IPO) witnessed huge investors' interest and was subscribed 21.59 times. The issue received bids for more than 537 crore shares as against the issue size of 30,16,52,031 shares. Its founder company, Adani Enterprises was up 0.33%.
The BSE FMCG Index outperformed other indices, surged 3%, as Nestle, United Spirits, HUL, Tata Tea, Britannia (Q1 net was up 17% and sales up 5%), ITC, Godrej Consumer and Ruchi Soya were up 2.5-6.4%.
The Oil & Gas Index went up 2.65% led by exploration companies. ONGC shot up 5.91% Aban Offshore, Essar Oil, Reliance Industries and Reliance Petroleum were up 2.5-4.5%. Cairn India was up 1.33%. Crude was up over 5% on Thursday. However, BPCL, HPCL, IOC and GAIL fell 1-3%.
Bankex was up 1.9% led by SBI, which rose over 5%. Kotak Mahindra, HDFC Bank, Bank of Baroda and Canara Bank were up 2-4%. ICICI Bank was up 0.5%.
In the technology space, Patni Computer surged another 10%, after seeing over 10% rally on Thursday (the company posted strong numbers for the quarter). Infosys rose 2.66% and Wipro up 0.43%. However, HCL Tech went down 1.7% and TCS fell 0.68%.
Metal stocks like Hindalco surged 6.65%. Sesa Goa, Sterlite Industries, Jindal Saw, Hindustan Zinc, Tata Steel and JSW Steel were up 1-3.8%. However, Jindal Steel fell 2.72%.
In the auto space, Bharat Forge jumped 10.27% and Tata Motors was up 6.61%. Maruti Suzuki, Apollo Tyres, M&M and Bajaj Auto went up 0.5-1%. However, Hero Honda was up 2.08%.
In the capital goods space, ABB, Punj Lloyd, Siemens, BHEL and L&T went up 1-1.7%.
Telecom stocks like Idea Cellular surged 4.23%. However, Bharti Airtel lost 3.06%. Today was the last day for Bharti-MTN talks and sources said that they could extend date for talks further. Reliance Communication slipped 2.11%.
In the power pack, Neyveli Lignite was up 5% and Reliance Infrastructure rose 1.69%. Tata Power, Torrent Power and Suzlon Energy gained 0.5% each. However, Lanco Infratech lost 2.84%. GVK Power, GMR Infra, NTPC, Power Grid Corp and Reliance Power slipped 0.5-1%.
Pharma stocks like Ranbaxy Labs, Sun Pharma, Biocon, Apollo Hospital and Glenmark went up 1-2.5%. However, Wockhardt lost 4.42%. Cipla, Dr Reddys Labs and Matrix Lab were down 0.5-1.3%.
However, realty stocks lost the ground today. Omaxe, Ackruti City, Unitech, Orbit Corporation, DLF and Indiabulls Real declined 1.4-3.5%.
Volumes were lower; total traded turnover stood at Rs 83,315.90 crore. This included Rs 19,894.54 crore from the NSE cash segment, Rs 57,151.46 crore from the NSE F&O segment and the balance Rs 6,269.90 crore from the BSE cash segment.
Among the broader indices, the BSE Midcap Index was up 1% and Smallcap Index was flat. About 1,452 shares advanced while 1,356 shares declined on the BSE. Nearly 363 shares remained unchanged.
Global cues:
At the time of closing of Indian equities, European markets and US futures were flat in trade.
Asian markets ended higher. Shanghai surged 2.7%. Hang Seng, Nikkei and Kospi were up 1.5-1.9%. Straits Times and Taiwan Weighted rose 0.7-0.9%.
Nifty holds 4600; oil exploration, banks, FMCG gain
At 15:07 hours IST - the Nifty gave up 1/2 of gains and was still holding above 4600 level. Heavyweights ONGC and SBI were up over 5%. Leading counters like Reliance Industries, HUL, Infosys, ITC, HDFC, HDFC Bank, Sterlite, BHEL, Tata Motors, Nalco, Idea, Tata Steel, Ambuja Cements, Hindalco and Maruti were trading higher.
However, heavyweight Bharti Airtel plunged over 4%; today is the last day of Bharti-MTN talks and sources believe that the company may extend further. Shares of power, realty and oil marketing companies were also under pressure.
The Nifty rose 48 points, to 4,620 and the Sensex gained 212 points at 15,600. About 1430 shares advanced while 1376 shares declined on the BSE. Nearly 365 shares were unchanged.
Sensex trades strong despite selling at higher levels
At 14:23 hours IST - the Sensex continued its uptrend on the back of buying in heavyweights, despite selling pressure at higher levels. Shares of oil & gas exploration, banking, FMCG, capital goods and select metal stocks were witnessing buying interest. Infosys, Tata Motors, HDFC, Idea Cellular, Reliance Capital, Sun Pharma, Reliance Infrastructure, Ambuja Cements, Maruti, Ranbaxy and Suzlon Energy were other gainers.
Hindalco and Nalco surged 2.5% and 4.8%, respectively, ahead of their Q1FY10 numbers.
However, on the losing side, heavyweight Bharti Airtel tumbled over 3.5%. Jindal Steel tanked 4%. TCS, Hero Honda, DLF, Reliance Communication, PNB, HCL Tech, BPCL and Unitech were down 1-1.8%. SAIL was down 0.5%.
The Nifty rose 41 points, to 4,612 and the Sensex went up 180 points, to 15,568. About 1432 shares advanced while 1370 shares declined on the BSE. Nearly 369 shares were unchanged.
Reliance Industries, Infosys, ICICI Bank, L&T, ITC, ONGC, SBI and HUL were leading counters.
In the midcap space, Godfrey Phillip, Sunteck Realty, Patni Computer, Max India and 3M India were up 6-14%. However, REI Six Ten, Simplex Infra, Atlas Copco, Dish TV India and Wockhardt were down 4-5.6%.
In the smallcap space, Sonata Software, Fresenius Kabi, Kirloskar Ferro, Kothari Product and Automotive Axle went up 10-12%. However, Vishal Info, Tanla Solutions, Vikas WSP, Arshiya International and Ganesh Housing fell 5-13%.
Nifty hovering around 4650; Nalco, ONGC, SBI up
At 13.05 hrs IST, the Nifty was trading with good gains. It was hovering around the 4650 mark. Buying interest was seen across all the sectors. The BSE FMCG index outperformed the other sectoral indices. Strong buying interest was seen in banks, oil & gas, capital goods, metal, IT, auto and power stocks. Reliance, Infosys, ICICI Bank, L&T and ITC were major contributors to the Sensex.
The Sensex was up 328.64 points or 2.14% at 15716.60, and the Nifty was up 85.30 points or 1.87% at 4656.75.
About 1657 shares advanced, 1117 shares declined, and 397 shares were unchanged.
Sandeepa Arora, of IIFL, India Infoline, said that the Nifty could hit 5,000 if it crossed 4,650–4,700. She said, in an interview to CNBC-TV18, “Earlier, we were between 4,000 and 4,500. I think you will see that moving upwards between 4,400 to maybe 4,800 or 5,000 even.
Top gainers on the Sensex were ONGC at Rs 1,166.35 up 6.08%, Tata Motors at Rs 416.00 up 5.21%, SBI at Rs 1,811.90 up 5.17%, Sterlite Ind at Rs 648.40 up 3.46% and ITC at Rs 251 up 3.38%.
Top gainers on the Nifty were NALCO at Rs 310.45 up 6.41%, ONGC at Rs 1,167.15 up 6.00%, SBI at Rs 1,812.15 up 5.19%, Tata Motors at Rs 415.95 up 5.18% and Idea Cellular at Rs 79.30 up 4.27%.
ABG Shipyard said it has increased stake in Great Offshore to 8% and revised open offer to Rs 450/share. The stock rose 2.5%. Great Offshore went up 2% and Bharati Shipyard rose over 1%.
Sensex trades strong; oil exploration, banks, FMCG lead
At 12:15 hours IST, the Nifty was trading strong and was holding the 4600 level, despite seeing profit booking at higher levels. Shares of oil & gas exploration, banking, FMCG, telecom (barring Bharti Airtel), capital goods and select metal stocks were witnessing buying interest.
However, selling in Bharti Airtel, Jindal Steel, Power Grid, NTPC, BPCL, ACC, PNB and Hero Honda was putting some pressure on the markets.
The Sensex rose 271 points, to 15,658 and the Nifty went up 71 points, to 4,643. The market breadth was positive; about 1714 shares advanced while 1046 shares declined on the BSE. Nearly 411 shares were unchanged. The broader indices have come off from highs and were up 1-1.4%.
In the oil & gas space, ONGC surged nearly 6%. Reliance Industries, Cairn India and Reliance Petroleum were up 1.5-2%. GAIL and IOC went up 0.5-0.6%.
Banking stocks like SBI shot up 4.80% as yesterday the company reported strong numbers for Q1FY10. Kotak Mahindra, HDFC Bank, ICICI Bank, Bank of Baroda and Axis Bank moved up 1.5-4.5%. Federal Bank was up 3.22% on good Q1FY10 numbers.
FMCG stocks like Nestle, United Spirits, United Breweries, Ruchi Soya, Tata Tea, Britannia, ITC, HUL and Godrej Consumer were up 2-7.8%.
In the capital goods space, Siemens, Suzlon Energy, L&T, Punj Lloyd, BHEL and ABB gained 1-2.5%.
Metal stocks like Gujarat NRE Coke rose 5.09%. Sterlite Industries, Hindustan Zinc, Sesa Goa, JSW Steel, Tata Steel, Ispat Industries, Jindal Saw and Hindalco (ahead of numbers) were up 1.5-3.7%. NMDC and SAIL went up 0.6-0.9%.
Sensex gains strength; all sectoral indices in green
At 10:56 hours IST, the Sensex gained more strength on the first day of August series. It touched the 15,700 level on the back of huge buying in across the sectors, especially banking, auto, metal, oil & gas and capital goods stocks. The Nifty was trading above the 4650 level.
The broader indices were in line with the benchmark indices, gained 1.7-2.3%. The market breadth was strong; about 1901 shares advanced while 821 shares declined on the BSE. Nearly 449 shares were unchanged.
The Sensex surged 325 points, to 15,713 and the Nifty rose 92 points, to 4663. The Nifty August future was trading with 7 points premium.
On the sectoral front, the BSE Metal Index shot up 3%. Bank, Oil & Gas, Auto, Capital Goods, Realty and IT indices went up 2-2.7%. FMCG, TECk, Power and Healthcare indices gained 1-1.7%.
Reliance Industries, Infosys, ICICI Bank, L&T, ITC, ONGC and SBI were the leading counters.
Tata Motors, SBI, Sterlite, ONGC, Hindalco and NALCO were top gainers and surged over 4% each. However, Bharti and BPCL were the only losers.
In the midcap space, Sunteck Realty surged 16%. Godfrey Phillip, Patni Computer, India Infoline and Monnet Ispat moved up 7.7-10.7%.
In the smallcap space, Fresenius Kabi, Hinduja Venture, Marathon Nextgen, Kothari Product and Supreme Petro went up 8.5-13.5%.
Nifty trades above 4600; Sensex at 2009 highs
The markets opened strong following positive global cues and the Sensex was trading at 2009 highs. Heavyweights were witnessing huge buying interest. Shares of oil & gas exploration, auto, realty, metal and infrastructure stocks were supporting the markets.
At 9:56 am, the Nifty rose 76 points, to 4,647 and the Sensex gained 264 points at 15,652. The CNX Midcap surged 83 points, to 5,963 and the BSE Smallcap Index went up 82 points, to 6,286. About 660 shares advanced while 64 shares declined on the NSE.
Among the frontliners, Cairn (4% as crude surged 5%), Sterlite Industries, Suzlon (ahead of numbers), DLF, M&M, Tata Motors, Reliance Capital, SBI (on good numbers), L&T, ONGC, Tata Steel, Reliance Industries, Ranbaxy Labs, Hero Honda and HDFC were the gainers.
Midcap Space:
Lanco Infratech was up 0.4%, after doing successful QIP.
Deccan Chronicle was up 4.5% and PTC surged 5% on good numbers.
WWIL was up 2.5% and SEAMAC up 5% on good numbers.
Indiabulls Real, Parsvnath, HDIL, Sesa Goa and Gujarat NRE Coke were up 1-3%.
Adlabs lost 3%.
Global cues:
Asian markets were strong. Hang Seng rose 2%. Shanghai, Nikkei and Kospi were up 1.2-1.8%. Jakarta, Straits Times and Taiwan Weighted gained 0.4-0.8%.
The US markets hit 9-month high amid strong earnings and lower jobless claims, although slipped from the day's high. The Nasdaq hit 2,000 level in the intraday trade for the first time since October, 2008.
The Dow Jones Industrial Average was up 84 points at 9,154 and was off nearly 90 points from day's high of 9,247.
The S&P 500 Index rose 11.6 points at 987, after slipping 10 points from day's high of 997. The Nasdaq Composite gained 16.5 points to 1,984, after slipping 25 points from day's high of 2,010.
Commodities:
The Reuter CRB was up 3.98%, biggest gain since March 19.
Crude went up 5.5% at $67/bbl after dropping nearly 6% in the previous session.
Base metal recovered. Copper rose 4% to 10-month highs.
Lead went up 3%, Zinc gained 4% and Nickel up 5% to 10-month highs.
Gold was up 0.8% to $935/ounce and Silver rose 1.7% to $13.48/ounce.
Raw sugar made fresh 3-year high at 18.75cents/pound.
Market cues:
-FIIs net buy USD 28.7 million in equities on July 29
-MFs net sell Rs 292 crore in equities on July 29
-NSE F&O Aug series begins with Open Int of Rs 56,635 crore versus Rs 48,993 crore in July (16% higher)
-Value terms higher because Nifty has rallied 8% this series
-FIIs net buy Rs 367 crore in cash markets on July 30 (prov)
-DIIs net sell Rs 287 crore in cash markets on July 30 (prov)
-FIIs net sell Rs 339 crore in F&O on July 30
F&O cues:
-Initial Open Int July June
-Nifty Futures Open Int by Rs 10,552 crore versus Rs 9,069 crore
-Stock Futures Open Int Rs 22,135 crore versus Rs 19,861 crore
-Total Options Open Int Rs 23169 crore versus Rs 19,502 crore
-Market-wide rollover at 75% versus 77% last series
-Nifty Rollover at 69% versus 63% last series
-Nifty August futures trading at 1-point premium
-Strong Rollovers: Textiles (88%), Cement (85%), Power (85%)
-Weak Rollovers: Metals (71%), Sugar (72%), FMCG (75%)
-Nifty Open Int PCR starts at 0.95 (Same as last series beginning)
-Nifty Puts add 23.8 lakh, Calls add 21.9 lakh shares in Open Int
-Nifty Aug 4700 Call adds 7.3 lakh shares in Open Int
-Nifty Aug 4500 Put adds 5.3 lakh shares in Open Int
-Nifty Aug 4600 Call adds 5.2 lakh shares in Open Int
-Nifty Aug 5000 Call adds 3.7 lakh shares in Open Int
Friday, July 31, 2009
WEEKLY MARKET OUTLOOK :- 31-07-2009
Still, the short term sentiment is bullish…
With the help of Firm trend in global markets, short covering in F&O segment and
better than expected quarterly earnings, NIFTY extended gains of 1.76 percent in
the preceding week. Q1 earning announcement for most of the heavy weight index
stocks are almost over. The volumes appear to have taken the south path all
through the week largely aided selling by the foreign institutions in the futures and
options segment. On the Futures & Options front, the NIFTY August futures open
interest improved against previous week coupled with positive cost of carry
suggesting bullish signal. NIFTY August futures trading at a narrowing premium of
around 2-5 points against spot market over a couple of days.
The Put-Call ratio ofopen interest slithered from 1.46 to 1.10 against preceding week as Call options
ruled the accumulation over the Put options. The implied volatility (IV) trend of Put
options indicates short build up in the beginning of the week and reversal towards
the end. The IV of Call options rose initially; however, the Nifty is restricted to move
around the 4700 mark reflected by the shorting of higher Call options. Considering
the above said factors, nothing is changed since last week, still the short-term
sentiment is bullish and if NIFTY sustains above 4693 levels we may see the rally
upto 4910 levels. The weekly key support is likely to be seen at 4530 and 4474
levels.
Post Market Analysis
Domestic market concluded the week in the positive terrain on account of sustained
buying. Favorable global cues, mainly from Asian markets contributed to the sharp
rally. The rollover of Nifty positions for July 2009 series stood at 69% versus 63%
last month while market wide rollover of positions was at 75% versus 77% last
series. 22
Wednesday, July 29, 2009
Sensex ends lower; realty, metals, FMCG, infra, banks dip
The Sensex ended lower on the back of fall in shares of metal, realty, power, capital goods, telecom and banking companies, after seeing a recovery of around 285 points from the day's low of 14,888.41. Volumes remained above the Rs 1 lakh crore for second consecutive day. The markets were extemely volatile ahead of July settlement on Thursday.
Equity benchmarks were flat for the first two hours of trade. But they saw sharp fall after 12 hours IST following more than 7.5% fall in Shanghai, which managed to show some recovery and ended with 5% loss on the back of sell-off in property and steel shares. Investors booked profits as they worried that banks may restrict lending to control risks that threaten on asset bubble. Chinese government also reduced gasoline prices.
Among the other Asian markets, Hang Seng fell 2.4%. Jakarta, Straits Times and Taiwan Weighted were down 0.5-0.8%. Nikkei and Kospi were flat.
However, the markets managed to show smart recovery post the European markets' positive opening, which rose 0.7-1.5%. The 50-share NSE Nifty saw recovery of 92.7 points from day's low of 4420.80, before closing at 4513.50, down 1.11% or 50.60 points. The 30-share BSE Sensex fell 158.48 points or 1.03%, to settle at 15,173.46. The Nifty July futures closed with 17.3 points discount and August futures with 5.5 points discount.
Sudarshan Sukhani of Technical Trends said, "Traders should be very careful and cautious, investors can as well wait for either 4,700 to be broken or for a deeper correction. These are volatile areas and not much is going to come out between 4,400 and 4,700."
The markets recorded highest turnover ever; total turnover increased 39% to Rs 1,47,352.24 crore as against Rs 1,05,933.55 crore. This included Rs 23,333.69 crore from the NSE cash segment, Rs 1,16,508.34 crore from the NSE F&O and the balance Rs 7,510.21 crore from the BSE cash segment.
The market breadth was negative; about 1,144 shares advanced while 1,639 shares declined on the BSE. Nearly 387 shares remained unchanged. The broader indices fell 1-1.5%.
All the sectoral indices ended in red barring Oil & Gas and IT. The BSE Realty Index underperformed other indices, fell 4.4%. The Metal and FMCG indices declined 2% each. Fall in property and metal shares in Chinese markets had some ripple effects on our markets as well.
In the realty space, HDIL, Omaxe, DLF, Ansal Properties, Parsvnath and Unitech were down 5-7%.
Metal stocks like Tata Steel, Sterlite Industries (revenues were below estimates while profit was better-than-expectations) and SAIL lost 4.57-5.8%. NMDC, Sesa Goa and Hindustan Zinc lost 2.4-2.9%. However, Jindal Steel was up 3.41%. Hindalco and JSW Steel were up 0.5-1.3%.
In the FMCG space, Nestle, United Spirits, United Breweries, HUL, ITC and Marico declined 1-5.5%.
Capital goods stocks like ABB, L&T and BHEL were down 1-4%. In the power pack, Suzlon Energy, Reliance Infrastructure, Lanco Infratech, Neyveli Lignite, GMR Infra, Reliance Power, NTPC and GVK Power lost 1-5%.
In the pharma space, Wockhardt, Sun Pharma (disappointing numbers for Q1FY10) and Glenmark were down 4-5.5%. Cipla, Biocon and Apollo Hospital slipped 1.4-2.9%. However, Ranbaxy Labs, Matrix Lab and Dr Reddys Labs were up 0.4-0.7%.
Banking stocks like Kotak Mahindra, Axis Bank, SBI and ICICI Bank went down 1-5.8%. HDFC Bank was down 0.51% while PNB surged 3.45% on good set of numbers for Q1FY10 (numbers were above estimates).
In the auto space, Tata Motors plunged 4.96%. Hero Honda, Bharat Forge, Bajaj Auto and Ashok Leyland lost 1-2% while M&M was up 2.31% and Maruti Suzuki gained 0.55%.
In the telecom pack, MTNL, Tata Teleservices, Reliance Communication, Idea Cellular and Bharti Airtel declined 1-3.5%.
In the oil & gas space, IOC, BPCL, Reliance Petroleum, HPCL and Reliance Industries were up 0.8-1.5%. However, GAIL and
Cairn India fell over 2.5%.
Among the technology stocks, TCS shot up 4.18% and Wipro up 0.58%. However, HCL Tech lost 2.42% and Infosys down 0.55%.
In the midcap space, Gujarat Gas, Deccan Chronicle, Kansai Nerolac, Balrampur Chini and Jubilant were up 6.5-14% while Amtek Auto, IVRCL Infrastructure and Reliance Industrial Infra fell 6.5-7.5%.
In the smallcap space, VIP Industries, TVS Motor, Goodricke Group, EIH Associated Hotel and Rico Auto gained 10-20% while Vishal Info, NIIT Tech, Marathon Nextgen, Oil Country and ABG Infralogistics slipped 8-19.5%.
At 14:06 hours IST - the Sensex continued to trade lower despite showing recovery over 250 points. The Nifty has recovered over 70 points from day's low. Realty, banking, metal, power, telecom, capital goods and FMCG stocks were still seeing selling pressure. There was a huge volatility.
However, Jindal Steel, which surged over 6%. TCS and PNB gained over 2%. Wipro, M&M, Maruti, BPCL and Ranbaxy Labs went up 0.5-1.5%. About 0.8-1.5% upside in European markets also helped in the recovery.
The Nifty was down 62 points, to 4,503 and the Sensex fell 193 points, to 15,138. The broader indices slipped over 1%.
In the largecaps, DLF, Sun Pharma, SAIL, Unitech and Tata Steel were down over 6%. Suzlon Energy, Axis Bank, Tata Motors, Sterlite Industries and Reliance Infrastructure fell 4-5.5%.
Cipla, ABB, Reliance Capital, Idea Cellular, Cairn India, L&T, GAIL, HUL, Reliance Communication, Hindalco, SBI, HCL Tech and ACC were down 2-3.7%.
The market breadth was negative; about 1000 shares advanced while 1754 shares declined on the BSE. Nearly 416 shares were unchanged.
Nifty trades sharply lower; Realty, Metal indices tank 4-5%
At 13:15 hours IST - the sell-off in metal, realty, infrastructure, banking, cement, telecom and FMCG stocks was putting pressure on the Nifty, which was trading below the 4500 level. The Sensex was hovering around the 15,000 mark.
About 5% fall in China's Shanghai and 3% slide in Hong Kong's Hang Seng weighed on our markets. Property and steel shares tumbled in Chinese markets. Chinese government cut gasoline prices. Investors worried that banks may restrict lending to control risks. Crude also slipped 2% below USD 66 a barrel.
The Sensex was down 289 points, to 15,046 and the Nifty fell 98 points, to 4,465. The market breadth was negative; about 264 shares advanced while 968 shares declined on the NSE. The broader indices lost over 2%.
All sectoral indices were in the red. The BSE Metal and Realty indices lost over 5%. Power, FMCG, Capital Goods and Bank indices fell 2-3%.
In the realty space, Omaxe, Parsvnath, HDIL, DLF, Unitech and Ansal Properties were down 6.7-9%.
Metal stocks like SAIL, Ispat Industries, Sterlite, Tata Steel, Hindalco, Gujarat NRE Coke and JSW Steel lost 5-7%. Sesa Goa, Jindal Steel, Welspun Gujarat, Hindustan Zinc, NMDC and Jindal Saw declined 2-4%.
In the power space, Suzlon Energy, Reliance Infrastructure, GVK Power, ABB, GMR Infra, Neyveli Lignite, Lanco Infratech, Reliance Power, NTPC, BHEL and Tata Power slipped 2-5%.
In the midcap space, Gujarat Gas, Carborundum, Kansai Nerolac, Birla Corp and Great Offshore were up 4.5-14% while Essar Shipping and Godfrey Phillip fell over 7%.
In the smallcap space, VIP Industries jumped 20%. EIH Associated Hotel, Revathi CP, Rico Auto and Hinduja Global were up 6-9.5% while Vishal Info, Oil Country, NIIT Tech, Action Construction and Kewal Kiran tanked 8-17%.
Sensex down 300 pts; HK, China down on asset bubble worries
At 12.36 hours IST - the Sensex was witnessing huge selling pressure following big slide in Asian markets. Shanghai Composite tanked 5% led by fall in property and steel shares. Chinese government cut gasoline prices. Hang Seng and Straits Times slipped 1.6-2%.
Shares of China Petroleum & Chemical and PetroChina fell in Hong Kong after China unexpectedly cut fuel prices. Sinopec slipped 3% while PetroChina lost 2%.
Realty, metal, telecom, FMCG, power and capital goods stocks were the major losers.
At 12.36 hrs IST, the Sensex was down 330.84 points or 2.16% at 15001.10, and the Nifty was down 102.95 points or 2.26% at 4461.15.
About 843 shares advanced, 1895 shares declined, and 432 shares were unchanged. Only three stocks - TCS, Ranbaxy and PNB were in the green on the Nifty.
In the largecaps, DLF was at Rs 395, down 7.3%; Tata Motors was at Rs 385, down 7.05%; Sterlite Industries was at Rs 611.25, down 7.03%; Reliance Infrastructure was at Rs 1,142, down 5.62%; Tata Steel was at Rs 443, down 5.53% and Unitech was at Rs 89.25, down 6.74%.
All sectoral indices were in the red. The BSE Realty Index tanked 7% and Metal Index fell 6%. Power, FMCG, Capital Goods, Bank, Healthcare and Auto indices were down 2-4%.
Nifty flat; banks, realty, metals dip, oil & gas, cement up
At 10:52 hours IST, the Nifty was extremely volatile in trade. Buying in oil & gas, telecom, cement and select auto stocks along with HDFC, TCS and Tata Power was supporting the markets.
However, selling continued in realty, metal and banking stocks along with BHEL, Infosys and Sun Pharma.
The Sensex was up just 7 points, to 15,339 while the Nifty fell 5 points, to 4,558. However, the broader indices were up 0.8% each. About 1604 shares advanced while 1087 shares declined on the BSE. Nearly 479 shares were unchanged.
Top gainers - M&M, ONGC, Hero Honda, TCS, Tata Power and Ranbaxy Labs were up 1.4-3%.
Top losers - Tata Motors, DLF, Sun Pharma, SBI, Tata Steel and Axis Bank slipped 1-3%.
Aban Offshore, Great Offshore, RNRL, Unitech, Tata Steel and Reliance Industries were most active shares on the bourses.
In the midcap space, Gujarat Gas surged 15.79%. Kansai Nerolac, Jubilant, Torrent Pharma and Patni Computer gained 5-7.5%. However, Godfrey Phillip, Everest Kanto, Monsanto India, HDIL and Gammon Infra declined 3-6%.
In the smallcap space, VIP Industries shot up 19.94%. TVS Motor, EIH Associated Hotel, Marathon Nextgen and Bliss GVS were up 10-12%. However, Gammon India, GSFC, Clariant, GMR Industries and Sundaram-Clayton lost 4.5-5.5%.
Sensex weak on negative Asian cues; metals dip
The Sensex opened weak on the back of negative Asian cues. Metal, realty, infrastructure and select banking stocks were under pressure. There was some volatility ahead of F&O expiry on Thursday.
At 9:56 am, the Nifty fell 32 points, to 4,531 and the Sensex slipped 102 points, to 15,229. The CNX Midcap declined 14 points, to 5,886 and the BSE Smallcap Index fell 10 points, to 6,235.
Among the frontliners, Cairn (ahead of numbers), Tata Steel (ahead of numbers), Suzlon Energy, DLF, SAIL, Tata Motors, ICICI Bank, HDFC, Jindal Steel & Power, SBI, Axis Bank, Sun Pharma (ahead of numbers), Wipro, Reliance Capital, Reliance Infrastructure, NTPC and Bharti Airtel were down 1-2.5%.
Cipla was up 2.4% and Hero Honda up over 1% ahead of Q1FY10 numbers. BPCL was up 1.7% on good set of numbers.
Maruti Suzuki, Ambuja Cements, GAIL and HUL were the other gainers.
Midcap space:
Kingfisher Airlines was up 4% on fund raising plans. Great Offshore rose 3%.
Gujarat Gas was up 1% as the company announced bonus and EBITDA numbers were good as well.
Balrampur Chini and Bajaj Hindusthan were also up.
Gammon India was down 7.5%.
GVK Power and Punj Lloyd were other losers.
Alembic shot up 6% on good numbers. Firstsource was up 3% as its numbers were ahead of estimates.
Maytas Infra and Mcleod Russel were up 3% each.
Global cues:
Asian markets were trading lower. Shanghai and Hang Seng fell 1.7% each. Straits Times and Taiwan Weighted declined 0.5% each. Nikkei and Kospi were flat in trade.
The US markets recovered from the day's low amid mix economic data. Commodities declined as USD rebounded.
The Dow Jones Industrial Average ended down 12 points at 9,097, after seeing recovery of 90 points from day's low of 9,007.
The Nasdaq Composite was up 7.6 points at 1,976, after seeing recovery of 28 points from day's low of 1,948 and the S&P 500 Index was down 2.5 points at 980, after seeing recovery of 10 points from day's low of 970.
Commodities:
The CRB Index was down 1%.
Crude declined 1.7% at $67.23/bbl.
LME metals index was down 1.2%.
Copper was down 1%, Nickel down 2%, Tin down 3% and Zinc down 2%.
Gold was down 1.7% at $938/ounce, at 1-week lows.
Baltic Dry index was up 2%.
Market cues:
-FIIs net buy USD 92.5 million in equity on July 27
-MFs net sell Rs 176.8 crore in equity on July 27
-NSE F&O Open Int up by Rs 1960 crore at Rs 96,180 crore
-FII turnover as a % of Total F&O turnover at 27.7% versus 17.6%
-FIIs net buy Rs 59 crore in cash markets on July 28 (Prov)
-DIIs net buy Rs 448 crore in cash markets on July 28 (Prov)
-FIIs net sell Rs 670 crore in F&O on July 28
F&O cues:
-Stock Futures add 51 lakh shares in Open Int
-Futures Open Int up by Rs 1171 crore and Options Open Int up by Rs 789 crore
-Nifty July Futures shed 26.7 lakh shares in Open Int
-Nifty Aug Futures add 41.4 lakh shares in Open Int
-Nifty Aug Futures at 10-pt premium versus 11-pt premium
-Nifty IVs at 34-37%
-Nifty Open Int Put Call Ratio remains at 1.31
-Nifty Puts add 7.7 lakh shares in Open Int
-Nifty Calls add 6.2 lakh shares in Open Int
-Nifty August 4500 Put adds 3.75 lakh shares in Open Int
-Nifty August 4600 Put adds 3.4 lakh shares in Open Int
-Nifty July 4600 Call adds 3.4 lakh shares in Open Int
-Nifty August 4600 Call adds 2.6 lakh shares in Open Int
Equity benchmarks were flat for the first two hours of trade. But they saw sharp fall after 12 hours IST following more than 7.5% fall in Shanghai, which managed to show some recovery and ended with 5% loss on the back of sell-off in property and steel shares. Investors booked profits as they worried that banks may restrict lending to control risks that threaten on asset bubble. Chinese government also reduced gasoline prices.
Among the other Asian markets, Hang Seng fell 2.4%. Jakarta, Straits Times and Taiwan Weighted were down 0.5-0.8%. Nikkei and Kospi were flat.
However, the markets managed to show smart recovery post the European markets' positive opening, which rose 0.7-1.5%. The 50-share NSE Nifty saw recovery of 92.7 points from day's low of 4420.80, before closing at 4513.50, down 1.11% or 50.60 points. The 30-share BSE Sensex fell 158.48 points or 1.03%, to settle at 15,173.46. The Nifty July futures closed with 17.3 points discount and August futures with 5.5 points discount.
Sudarshan Sukhani of Technical Trends said, "Traders should be very careful and cautious, investors can as well wait for either 4,700 to be broken or for a deeper correction. These are volatile areas and not much is going to come out between 4,400 and 4,700."
The markets recorded highest turnover ever; total turnover increased 39% to Rs 1,47,352.24 crore as against Rs 1,05,933.55 crore. This included Rs 23,333.69 crore from the NSE cash segment, Rs 1,16,508.34 crore from the NSE F&O and the balance Rs 7,510.21 crore from the BSE cash segment.
The market breadth was negative; about 1,144 shares advanced while 1,639 shares declined on the BSE. Nearly 387 shares remained unchanged. The broader indices fell 1-1.5%.
All the sectoral indices ended in red barring Oil & Gas and IT. The BSE Realty Index underperformed other indices, fell 4.4%. The Metal and FMCG indices declined 2% each. Fall in property and metal shares in Chinese markets had some ripple effects on our markets as well.
In the realty space, HDIL, Omaxe, DLF, Ansal Properties, Parsvnath and Unitech were down 5-7%.
Metal stocks like Tata Steel, Sterlite Industries (revenues were below estimates while profit was better-than-expectations) and SAIL lost 4.57-5.8%. NMDC, Sesa Goa and Hindustan Zinc lost 2.4-2.9%. However, Jindal Steel was up 3.41%. Hindalco and JSW Steel were up 0.5-1.3%.
In the FMCG space, Nestle, United Spirits, United Breweries, HUL, ITC and Marico declined 1-5.5%.
Capital goods stocks like ABB, L&T and BHEL were down 1-4%. In the power pack, Suzlon Energy, Reliance Infrastructure, Lanco Infratech, Neyveli Lignite, GMR Infra, Reliance Power, NTPC and GVK Power lost 1-5%.
In the pharma space, Wockhardt, Sun Pharma (disappointing numbers for Q1FY10) and Glenmark were down 4-5.5%. Cipla, Biocon and Apollo Hospital slipped 1.4-2.9%. However, Ranbaxy Labs, Matrix Lab and Dr Reddys Labs were up 0.4-0.7%.
Banking stocks like Kotak Mahindra, Axis Bank, SBI and ICICI Bank went down 1-5.8%. HDFC Bank was down 0.51% while PNB surged 3.45% on good set of numbers for Q1FY10 (numbers were above estimates).
In the auto space, Tata Motors plunged 4.96%. Hero Honda, Bharat Forge, Bajaj Auto and Ashok Leyland lost 1-2% while M&M was up 2.31% and Maruti Suzuki gained 0.55%.
In the telecom pack, MTNL, Tata Teleservices, Reliance Communication, Idea Cellular and Bharti Airtel declined 1-3.5%.
In the oil & gas space, IOC, BPCL, Reliance Petroleum, HPCL and Reliance Industries were up 0.8-1.5%. However, GAIL and
Cairn India fell over 2.5%.
Among the technology stocks, TCS shot up 4.18% and Wipro up 0.58%. However, HCL Tech lost 2.42% and Infosys down 0.55%.
In the midcap space, Gujarat Gas, Deccan Chronicle, Kansai Nerolac, Balrampur Chini and Jubilant were up 6.5-14% while Amtek Auto, IVRCL Infrastructure and Reliance Industrial Infra fell 6.5-7.5%.
In the smallcap space, VIP Industries, TVS Motor, Goodricke Group, EIH Associated Hotel and Rico Auto gained 10-20% while Vishal Info, NIIT Tech, Marathon Nextgen, Oil Country and ABG Infralogistics slipped 8-19.5%.
At 14:06 hours IST - the Sensex continued to trade lower despite showing recovery over 250 points. The Nifty has recovered over 70 points from day's low. Realty, banking, metal, power, telecom, capital goods and FMCG stocks were still seeing selling pressure. There was a huge volatility.
However, Jindal Steel, which surged over 6%. TCS and PNB gained over 2%. Wipro, M&M, Maruti, BPCL and Ranbaxy Labs went up 0.5-1.5%. About 0.8-1.5% upside in European markets also helped in the recovery.
The Nifty was down 62 points, to 4,503 and the Sensex fell 193 points, to 15,138. The broader indices slipped over 1%.
In the largecaps, DLF, Sun Pharma, SAIL, Unitech and Tata Steel were down over 6%. Suzlon Energy, Axis Bank, Tata Motors, Sterlite Industries and Reliance Infrastructure fell 4-5.5%.
Cipla, ABB, Reliance Capital, Idea Cellular, Cairn India, L&T, GAIL, HUL, Reliance Communication, Hindalco, SBI, HCL Tech and ACC were down 2-3.7%.
The market breadth was negative; about 1000 shares advanced while 1754 shares declined on the BSE. Nearly 416 shares were unchanged.
Nifty trades sharply lower; Realty, Metal indices tank 4-5%
At 13:15 hours IST - the sell-off in metal, realty, infrastructure, banking, cement, telecom and FMCG stocks was putting pressure on the Nifty, which was trading below the 4500 level. The Sensex was hovering around the 15,000 mark.
About 5% fall in China's Shanghai and 3% slide in Hong Kong's Hang Seng weighed on our markets. Property and steel shares tumbled in Chinese markets. Chinese government cut gasoline prices. Investors worried that banks may restrict lending to control risks. Crude also slipped 2% below USD 66 a barrel.
The Sensex was down 289 points, to 15,046 and the Nifty fell 98 points, to 4,465. The market breadth was negative; about 264 shares advanced while 968 shares declined on the NSE. The broader indices lost over 2%.
All sectoral indices were in the red. The BSE Metal and Realty indices lost over 5%. Power, FMCG, Capital Goods and Bank indices fell 2-3%.
In the realty space, Omaxe, Parsvnath, HDIL, DLF, Unitech and Ansal Properties were down 6.7-9%.
Metal stocks like SAIL, Ispat Industries, Sterlite, Tata Steel, Hindalco, Gujarat NRE Coke and JSW Steel lost 5-7%. Sesa Goa, Jindal Steel, Welspun Gujarat, Hindustan Zinc, NMDC and Jindal Saw declined 2-4%.
In the power space, Suzlon Energy, Reliance Infrastructure, GVK Power, ABB, GMR Infra, Neyveli Lignite, Lanco Infratech, Reliance Power, NTPC, BHEL and Tata Power slipped 2-5%.
In the midcap space, Gujarat Gas, Carborundum, Kansai Nerolac, Birla Corp and Great Offshore were up 4.5-14% while Essar Shipping and Godfrey Phillip fell over 7%.
In the smallcap space, VIP Industries jumped 20%. EIH Associated Hotel, Revathi CP, Rico Auto and Hinduja Global were up 6-9.5% while Vishal Info, Oil Country, NIIT Tech, Action Construction and Kewal Kiran tanked 8-17%.
Sensex down 300 pts; HK, China down on asset bubble worries
At 12.36 hours IST - the Sensex was witnessing huge selling pressure following big slide in Asian markets. Shanghai Composite tanked 5% led by fall in property and steel shares. Chinese government cut gasoline prices. Hang Seng and Straits Times slipped 1.6-2%.
Shares of China Petroleum & Chemical and PetroChina fell in Hong Kong after China unexpectedly cut fuel prices. Sinopec slipped 3% while PetroChina lost 2%.
Realty, metal, telecom, FMCG, power and capital goods stocks were the major losers.
At 12.36 hrs IST, the Sensex was down 330.84 points or 2.16% at 15001.10, and the Nifty was down 102.95 points or 2.26% at 4461.15.
About 843 shares advanced, 1895 shares declined, and 432 shares were unchanged. Only three stocks - TCS, Ranbaxy and PNB were in the green on the Nifty.
In the largecaps, DLF was at Rs 395, down 7.3%; Tata Motors was at Rs 385, down 7.05%; Sterlite Industries was at Rs 611.25, down 7.03%; Reliance Infrastructure was at Rs 1,142, down 5.62%; Tata Steel was at Rs 443, down 5.53% and Unitech was at Rs 89.25, down 6.74%.
All sectoral indices were in the red. The BSE Realty Index tanked 7% and Metal Index fell 6%. Power, FMCG, Capital Goods, Bank, Healthcare and Auto indices were down 2-4%.
Nifty flat; banks, realty, metals dip, oil & gas, cement up
At 10:52 hours IST, the Nifty was extremely volatile in trade. Buying in oil & gas, telecom, cement and select auto stocks along with HDFC, TCS and Tata Power was supporting the markets.
However, selling continued in realty, metal and banking stocks along with BHEL, Infosys and Sun Pharma.
The Sensex was up just 7 points, to 15,339 while the Nifty fell 5 points, to 4,558. However, the broader indices were up 0.8% each. About 1604 shares advanced while 1087 shares declined on the BSE. Nearly 479 shares were unchanged.
Top gainers - M&M, ONGC, Hero Honda, TCS, Tata Power and Ranbaxy Labs were up 1.4-3%.
Top losers - Tata Motors, DLF, Sun Pharma, SBI, Tata Steel and Axis Bank slipped 1-3%.
Aban Offshore, Great Offshore, RNRL, Unitech, Tata Steel and Reliance Industries were most active shares on the bourses.
In the midcap space, Gujarat Gas surged 15.79%. Kansai Nerolac, Jubilant, Torrent Pharma and Patni Computer gained 5-7.5%. However, Godfrey Phillip, Everest Kanto, Monsanto India, HDIL and Gammon Infra declined 3-6%.
In the smallcap space, VIP Industries shot up 19.94%. TVS Motor, EIH Associated Hotel, Marathon Nextgen and Bliss GVS were up 10-12%. However, Gammon India, GSFC, Clariant, GMR Industries and Sundaram-Clayton lost 4.5-5.5%.
Sensex weak on negative Asian cues; metals dip
The Sensex opened weak on the back of negative Asian cues. Metal, realty, infrastructure and select banking stocks were under pressure. There was some volatility ahead of F&O expiry on Thursday.
At 9:56 am, the Nifty fell 32 points, to 4,531 and the Sensex slipped 102 points, to 15,229. The CNX Midcap declined 14 points, to 5,886 and the BSE Smallcap Index fell 10 points, to 6,235.
Among the frontliners, Cairn (ahead of numbers), Tata Steel (ahead of numbers), Suzlon Energy, DLF, SAIL, Tata Motors, ICICI Bank, HDFC, Jindal Steel & Power, SBI, Axis Bank, Sun Pharma (ahead of numbers), Wipro, Reliance Capital, Reliance Infrastructure, NTPC and Bharti Airtel were down 1-2.5%.
Cipla was up 2.4% and Hero Honda up over 1% ahead of Q1FY10 numbers. BPCL was up 1.7% on good set of numbers.
Maruti Suzuki, Ambuja Cements, GAIL and HUL were the other gainers.
Midcap space:
Kingfisher Airlines was up 4% on fund raising plans. Great Offshore rose 3%.
Gujarat Gas was up 1% as the company announced bonus and EBITDA numbers were good as well.
Balrampur Chini and Bajaj Hindusthan were also up.
Gammon India was down 7.5%.
GVK Power and Punj Lloyd were other losers.
Alembic shot up 6% on good numbers. Firstsource was up 3% as its numbers were ahead of estimates.
Maytas Infra and Mcleod Russel were up 3% each.
Global cues:
Asian markets were trading lower. Shanghai and Hang Seng fell 1.7% each. Straits Times and Taiwan Weighted declined 0.5% each. Nikkei and Kospi were flat in trade.
The US markets recovered from the day's low amid mix economic data. Commodities declined as USD rebounded.
The Dow Jones Industrial Average ended down 12 points at 9,097, after seeing recovery of 90 points from day's low of 9,007.
The Nasdaq Composite was up 7.6 points at 1,976, after seeing recovery of 28 points from day's low of 1,948 and the S&P 500 Index was down 2.5 points at 980, after seeing recovery of 10 points from day's low of 970.
Commodities:
The CRB Index was down 1%.
Crude declined 1.7% at $67.23/bbl.
LME metals index was down 1.2%.
Copper was down 1%, Nickel down 2%, Tin down 3% and Zinc down 2%.
Gold was down 1.7% at $938/ounce, at 1-week lows.
Baltic Dry index was up 2%.
Market cues:
-FIIs net buy USD 92.5 million in equity on July 27
-MFs net sell Rs 176.8 crore in equity on July 27
-NSE F&O Open Int up by Rs 1960 crore at Rs 96,180 crore
-FII turnover as a % of Total F&O turnover at 27.7% versus 17.6%
-FIIs net buy Rs 59 crore in cash markets on July 28 (Prov)
-DIIs net buy Rs 448 crore in cash markets on July 28 (Prov)
-FIIs net sell Rs 670 crore in F&O on July 28
F&O cues:
-Stock Futures add 51 lakh shares in Open Int
-Futures Open Int up by Rs 1171 crore and Options Open Int up by Rs 789 crore
-Nifty July Futures shed 26.7 lakh shares in Open Int
-Nifty Aug Futures add 41.4 lakh shares in Open Int
-Nifty Aug Futures at 10-pt premium versus 11-pt premium
-Nifty IVs at 34-37%
-Nifty Open Int Put Call Ratio remains at 1.31
-Nifty Puts add 7.7 lakh shares in Open Int
-Nifty Calls add 6.2 lakh shares in Open Int
-Nifty August 4500 Put adds 3.75 lakh shares in Open Int
-Nifty August 4600 Put adds 3.4 lakh shares in Open Int
-Nifty July 4600 Call adds 3.4 lakh shares in Open Int
-Nifty August 4600 Call adds 2.6 lakh shares in Open Int
Friday, July 24, 2009
Mkts see second weekly gain; auto, realty, metal, IT rally
The benchmark indices ended higher and continued their run-up for the second straight day. Huge upsurge in auto, realty and metal stocks helped the Nifty to end the week above the 4550 level. Power, telecom, technology and capital goods stocks were the other gainers. The markets rallied for the second straight week post the budget week.
Over 2-2.5% surge in US markets late Thursday night due to good earnings and economic data, more than 0.5% upside in European markets and 0.4-2% gains in Asian markets also helped our markets to remain on the higher side in the second half of the trade. They were volatile in the first half of the trade.
The 30-share BSE Sensex closed 15,378.96, up 147.92 points or 0.97% and the 50-share NSE Nifty rose 0.99% or 44.80 points, to settle at 4568.55. The former index gained 4.3% and later one up 4.43% this week. The broader indices outperformed the benchmark indices; the BSE Midcap went up 1.7% and Smallcap Index gained 1.8%.
Technical Analyst, Rajat K Bose said the chances were that next target for the Nifty would be 4,609 and after that it would be 4,641 to about 4,654. "I think the Nifty is actually moving into the higher trajectory in which we will conquer that 4,650 kind of level from there to about 4,680 and once we get a close above 4,680 you will see real upward momentum ushering in"
Auto space was the real star of the day led by Maruti Suzuki, which has seen an all-time high of 1,397.50. It closed at 1,377.85, up 6.35% on the BSE. The company reported strong growth in Q1FY10 numbers on Thursday. The auto space continued its run-up for the second day and the index gained 5.14%.
Bharat Forge surged 14.06%. The company bagged USD 25 million order from General Motors. Chairman and Managing Director, Baba Kalyani said 2011 would see real impact of the GM order. Its Q1FY10 net sales increased 23% on QoQ basis.
Amtek Auto, Tata Motors, MRF, Ashok Leyland and Exide Industries were up 6-11%. Hero Honda, M&M, Bosch, Cummins and Bajaj Auto were up 1-4%
On the earnings front, Amit Dalal, Amit Nalin Securities said the results have been definitely better-than-expected in many segments - for instance, in banking, in auto definitely, cement. "It is a very creditable thing for our companies that we have done better. Secondly, there have been huge cost savings exercises, which have started paying off and are visible in the bottomline, which also was not taken into account by analysts."
Bharti Airtel went ex-split today. The company split the face value from Rs 10 to Rs 5 a share. It has gone into non-delivery period and would be out on July 31. The stock was up nearly 2%.
Anus Laboratories stock has gone ex-bonus with ratio of 1:1 (the company issued one share for every one share held). The stock shot up 19.7%.
All the BSE sectoral indices ended in the green barring the Bankex. The BSE Realty Index surged 4.3%, as Parsvnath, DLF, Omaxe, Orbit Corporation, HDIL, Ackruti City and Unitech gained 3-7.9%. Indiabulls Real was up 1.42%.
In the metal space, Tata Steel and Jindal Saw were up nearly 6% each. Hindalco and Sterlite were up 3% each. Jindal Steel, JSW Steel and Gujarat NRE Coke gained 1-2.7%.
Technology stocks like HCL Tech, Mphasis, Infosys, Tech Mahindra and TCS went up 1-4%. Wipro was up 0.69%.
In the telecom space, Idea Cellular surged 4.82% on good numbers for Q1FY10. MTNL, Bharti Airtel and Tata Teleservices were up 1.5-3.7%. Reliance Communication rose 0.58%.
In the power space, Suzlon Energy, Lanco Infratech, Reliance Power, Tata Power and NTPC were up 1.4-7%.
Capital goods stocks like ABB, Punj Lloyd and BHEL gained 1.6-3.4%. L&T was up 0.68%.
In the FMCG space, Godrej Consumer, Nestle, United Spirits, HUL and Britannia were up 2-5.7%. Tata Tea and ITC moved up just 0.7%.
Banking stocks like Union Bank was up 5%. PNB, SBI and ICICI Bank (Q1FY10 numbers to be announced on July 25) lost 1-2.5%. HDFC Bank and Axis Bank fell marginally.
Oil & gas stocks like Cairn India and ONGC went up 3% each. HPCL was up 1.27%.
On the losing side, Reliance Industries, HDFC, SAIL, Sun Pharma, Ambuja Cements and ACC were down 1-2%.
The market breadth was positive; about 1839 shares advanced while 951 shares declined on the BSE. Nearly 375 shares remained unchanged.
Total traded turnover was at Rs 99,910.90 crore as against Rs 1,01,981.66 crore on Thursday. This included Rs 20,496.03 crore from the NSE cash segment, Rs 72,581.23 crore from the NSE F&O and the balance Rs 6,833.64 crore from the BSE cash segment.
Nifty trades above 4550; Maruti at all-time high
At 14:55 hours IST, the markets were trading higher led by buying in metal, auto, technology, power, capital goods, realty and telecom stocks. ONGC was the leading player in the Nifty, rose 3%.
Bharti Airtel went ex-split today. The company split the face value from Rs 10 to Rs 5 a share. It has gone into non-delivery period and will be out on July 31. The stock was up nearly 3%.
Anus Laboratories stock has gone ex-bonus with ratio of 1:1 (the company issued one share for every one share held). The stock shot up 19.7%.
However, Reliance Industries, SBI, HDFC, SAIL, HDFC Bank, Sun Pharma, PNB, ICICI Bank, Ambuja Cements, Cipla, ACC and Siemens were under pressure, which was putting pressure at higher levels.
The Nifty rose 41 points, to 4,565 and the Sensex gained 135 points at 15,366. The broader indices were up 1.6%. About 1768 shares advanced while 1005 shares declined on the BSE. Nearly 392 shares were unchanged.
On the sectoral front, Auto Index surged 4.5%. Realty Index rose 3.5% and Metal up 2.4%. TECk, IT, Capital Goods, Power and FMCG indices were up 1.4-1.9%.
In the auto space, Maruti Suzuki shot up 6% and touched a new 52-week high at Rs 1397.50. Bharat Forge surged 11.24%, as its sales went up 23% on QoQ basis while saw sharp decline on YoY basis.
Tata Motors was up 8.93%. Ashok Leyland, Amtek Auto, Exide Industries, Hero Honda, Escorts, Bosch and M&M were up 2.5-7%.
Metals, auto lead mkts higher; Maruti at all-time high
At 13:45 hours IST - the markets gained strength, after seeing consolidation since early trade. Metal, telecom, capital goods, power, realty, technology and auto stocks were seeing buying interest. ONGC, ICICI Bank and Axis Bank were also supporting the markets. The broader indices extended their gains, up 1.7% each. There was a bit of volatility.
However, Reliance Industries, HDFC, SAIL, SBI, HDFC Bank, PNB, Ambuja Cements and Sun Pharma were losers.
The Nifty surged over 4550 levels and was trading at 4,569, up 46 points. The Sensex rose 147 points, to 15,378. The Nifty July future was trading with 5-8 points premium.
On the sectoral front, Auto, Realty, TECk, IT and Metal indices gained 2-3.4%. Power and Capital Goods indices rose 1.7% each. All sectoral indices were almost in the green.
Maruti Suzuki has touched a 52-week high of Rs 1,371.70. It has touched an intraday high of Rs 1,371.70 and an intraday low of Rs 1,295.
In the laregcaps, Tata Motors was up 7% and Suzlon up 6%. ONGC, Bharti, Infosys, DLF, BHEL, Maruti, Cairn, Tata Steel, Idea and Hero Honda were up 2-4.7%. NTPC and TCS rose 1.5% each.
The market breadth was positive; about 1764 shares advanced while 982 shares declined on the BSE. Nearly 419 shares were unchanged.
Mkts choppy; midcap, smallcap indices outperform
At 12:54 hours IST, the benchmark indices were extremely volatile in trade. Reliance Industries and HDFC lost over 2%. SBI, SAIL, HDFC Bank, PNB, ITC, HUL, Ambuja Cements, Reliance Infrastructure, Siemens, Cipla, Grasim and ACC were the losers among largecaps.
However, buying in auto, metal, realty, technology and telecom stocks was helping the markets. Bharti Airtel shot up 4%; the company reduced its face value to Rs 5 from Rs 10. F&O lot size for the stock now is 500.
The Sensex was up 12 points, to 15,243 and the Nifty rose 5 points, to 4,529. About 824 shares advanced while 389 shares declined on the NSE. The broader indices were up 1% each.
On the sectoral front, the BSE Auto Index rose 2.7%. TECk, Realty, Metal, IT and Capital Goods indices went up 1-1.7%. However, Oil & Gas and Bank indices fell 0.7-1.2%.
In the midcap space, Havells India, Phoenix Mills, Tulip Telecom, TV18 and Amtek Auto were up 6-8%. In the smallcap space, Rico Auto, Shoppers Stop, Whirlpool, Premier and eClerx Services advanced 10-20%.
In the metal space, Jindal Saw, Sterlite, Tata Steel, Hindalco and JSW Steel gained 1-4%. Hindustan Zinc and Jindal Steel gained 0.5% each.
Auto stocks like Tata Motors surged 6.7%. Bharat Forge went up 6%. Maruti Suzuki, Ashok Leyland, Hero Honda and M&M moved up 1-3.7%. Bajaj Auto was up 0.52%.
In the technology space, Tech Mahindra, Infosys and TCS were up 0.9-1.5%. HCL Tech and Wipro were flat. In the realty space, Orbit Corporation, Parsvnath, DLF, HDIL, Omaxe and Unitech gained 1.8-5%.
Telecom stocks like Idea Cellular was up 3%. MTNL and Reliance Communication were up marginally.
However, Union Bank, PNB, Kotak Mahindra, SBI and HDFC Bank slipped 1-4%. ICICI Bank was down just 0.33%.
In the FMCG space, Dabur India, United Breweries and Ruchi Soya declined 1.6-2%. ITC, HUL and Colgate were down 0.4-0.7%.
Mkts consolidate; banks, FMCG, cement dip, auto, metals up
At 11:48 hours IST, the markets were consolidating at current levels after seeing a rally of over 2.5% on Thursday. Realty, auto, metal and technology stocks along with BHEL, Bharti, Idea, ABB and Ranbaxy Labs (the company likely to report good earnings on forex gains) were seeing buying interest.
However, selling in banking, FMCG and cement stocks along with Reliance Communication, SAIL, Reliance Industries, ONGC, Cipla and Siemens capped the gains.
The Sensex was down 27 points, to 15,203 and the Nifty fell 8 points, to 4,515. However, the broader indices were up 0.7% each. The market breadth was positive; about 1591 shares advanced while 1088 shares declined on the BSE. Nearly 486 shares were unchanged.
Satyam, Suzlon Energy, Unitech, DLF, Tata Steel, ICICI Bank and Reliance Industries were the most active shares on the bourses.
Top percentage gainers - Rico Auto, Wendt, Hyderabad Industries, Shoppers Stop, Munjal Auto, GKW and Bhartiya International gained 11-20%.
Top percentage losers - Sarup Tanneries, Alfred Herbert, Sanwaria Agro, Money Matters, Voith Paper, Hitech Plast, Unichem Labs and AI Champdany lost 5-9%.
Mkts volatile with positive bias; auto, telecom, realty up
At 10:30 hours IST, the benchmark indices were trading marginally higher but they were seeing some volatility. FMCG, cement and select oil & gas stocks along with HDFC Bank, HDFC and SAIL were witnessing selling pressure. Reliance Industries was volatile in trade.
However, capital goods, telecom, metal, auto, realty and private power counters were seeing buying interest along with Infosys and TCS.
The Nifty was trading at 4,547, up 23 points and the Sensex rose 82 points, to 15,313. About 807 shares advanced while 276 shares declined on the NSE.
BHEL, Bharti Airtel, Infosys, Sterlite, DLF, Maruti, Idea (good set of numbers), TCS, Tata Steel, Tata Motors and Tata Power were leading counters.
In the midcap space, Havells India, HT Media, Amtek Auto, Gujarat State Petronet (on strong earnings) and KEC International gained 5-9% while Thomas Cook, United Breweries, Novartis India, Madras Cements and Allcargo Global fell 1.5-3%.
In the smallcap space, Rico Auto, Shoppers Stop, Ahmednagar Forgings, MIC Electronics and Vipul were up 9-20% while Panyam Cements, HSIL, Kwality Dairy, Sanwaria Agro and WABCO-TVS slipped 3.5-7%.
Mkts open positive on good global cues; Infy, ICICI Bank up
The markets opened positive on strong global cues especially led by the US markets. The Nifty tested the 4550, but both the indices turned into consolidation, as they rallied smartly on Thursday. Metal, telecom, realty and select infrastructure stocks were the gainers.
At 9:56 am, the Nifty was up 31 points, to 4,555 and the Sensex gained 103 points, at 15,334. The CNX Midcap rose 61 points, to 5,737 and the Nifty Junior went up 81 points, to 8,196. About 600 shares advanced while 73 shares declined on the NSE.
Among the frontliners, Suzlon Energy, Idea Cellular, Nalco, Reliance Power, Unitech, Infosys, ICICI Bank (ahead of numbers on July 25). Bharti Airtel, Tata Steel, Cairn, Jindal Steel & Power, L&T and DLF were the gainers.
Infosys Technologies was trading above Rs 2000 mark.
However, Ambuja Cements was down 3.6%, as its bottomline declined sharply. ONGC was down 1.5% on weak earnings.
ITC, GAIL and HUL were the other losers.
Midcap space:
Bhart Forge slipped 1.5% as its Q1 bottomline as well as topline performance was weak.
GSPL surged 4.5% and PNB Gilts up 8.5% on good Q1 earnings.
Alston Projects was up 2.6%. Mahindra Satyam rose 3.8%. Aban Offshore went up 2.4%. Maytas Infra shot up 5%.
However, Hexaware Tech was down 2.5%.
Global cues:
Asian markets were trading higher. Shanghai, Jakarta and Straits Times were up 1.3% each. Hang Seng, Nikkei and Kospi were up 0.3-0.7%. Taiwan was flat. SGX Nifty was up 0.7%.
US markets rallied on Thursday. The S&P 500 Index closed at 2009 highs and broke past the 960 mark. It was at highest level since November. The Dow Jones closed above 9000 for the first time since Jan 2009. The Nasdaq clocked 12th straight day of gain.
The Dow gained 188.03 points, or 2.1%, to 9,069.29. The S&P 500 index rose 22.22 points, or 2.3%, to 976.29. The Nasdaq Composite Index rose 47.22 points, or 2.5%, to 1,973.60.
Triggers were good results and existing home sales data. Higher home sales offset weak jobless claims data.
Commodity watch:
Reuters CRB gained nearly 2%.
Crude was trading at 3-week highs. It was up 2.7% to $67/bbl level. US fuel demand was down 4.8% (YoY).
Base metals headed for second weekly gain. Copper gained 1% to $5545/tonne.
Sugar was up 2% to 3-year high.
Gold went up over 1 dollar to $954.80/ounce.
Market cues:
-Numbers today: RIL, numbers tomorrow: ICICI Bank
-FIIs net buy USD 30.1 million in equity on July 22
-MFs net sell Rs 284.9 crore in equity on July 22
-NSE F&O Open Int up by Rs 4643 crore at Rs 90697 crore
-FIIs net buy Rs 512 crore in cash markets on July 23 (Prov)
-DIIs net sell Rs 34 crore in cash markets on July 23 (Prov)
-FIIs net buy Rs 292 crore in F&O on July 23
F&O cues:
-Stock Futures add 6 cr shares in Open Int
-Futures Open Int up Rs 3974 crore and Options Open Int up Rs 669 crore
-Nifty July Futures add 8 lakh shares in Open Int
-Nifty Aug Futures add 21 lakh shares in Open Int
-Nifty Jul at 11-point premium, Aug at 12-point premium
-Nifty Open Int PCR at 1.29 versus 1.22
-Nifty Puts add 21 lakh shares in Open Int
-Nifty Calls shed 9 lakh shares in Open Int
-Nifty 4400 Put adds 5 lakh shares in Open Int
-Nifty 4500 Put adds 5 lakh shares in Open Int
-Nifty 4600 Put adds 5 lakh shares in Open Int
-Nifty 4400 Call sheds 5 lakh shares in Open Int
-Nifty 4300 Call sheds 5 lakh shares in Open Int
Over 2-2.5% surge in US markets late Thursday night due to good earnings and economic data, more than 0.5% upside in European markets and 0.4-2% gains in Asian markets also helped our markets to remain on the higher side in the second half of the trade. They were volatile in the first half of the trade.
The 30-share BSE Sensex closed 15,378.96, up 147.92 points or 0.97% and the 50-share NSE Nifty rose 0.99% or 44.80 points, to settle at 4568.55. The former index gained 4.3% and later one up 4.43% this week. The broader indices outperformed the benchmark indices; the BSE Midcap went up 1.7% and Smallcap Index gained 1.8%.
Technical Analyst, Rajat K Bose said the chances were that next target for the Nifty would be 4,609 and after that it would be 4,641 to about 4,654. "I think the Nifty is actually moving into the higher trajectory in which we will conquer that 4,650 kind of level from there to about 4,680 and once we get a close above 4,680 you will see real upward momentum ushering in"
Auto space was the real star of the day led by Maruti Suzuki, which has seen an all-time high of 1,397.50. It closed at 1,377.85, up 6.35% on the BSE. The company reported strong growth in Q1FY10 numbers on Thursday. The auto space continued its run-up for the second day and the index gained 5.14%.
Bharat Forge surged 14.06%. The company bagged USD 25 million order from General Motors. Chairman and Managing Director, Baba Kalyani said 2011 would see real impact of the GM order. Its Q1FY10 net sales increased 23% on QoQ basis.
Amtek Auto, Tata Motors, MRF, Ashok Leyland and Exide Industries were up 6-11%. Hero Honda, M&M, Bosch, Cummins and Bajaj Auto were up 1-4%
On the earnings front, Amit Dalal, Amit Nalin Securities said the results have been definitely better-than-expected in many segments - for instance, in banking, in auto definitely, cement. "It is a very creditable thing for our companies that we have done better. Secondly, there have been huge cost savings exercises, which have started paying off and are visible in the bottomline, which also was not taken into account by analysts."
Bharti Airtel went ex-split today. The company split the face value from Rs 10 to Rs 5 a share. It has gone into non-delivery period and would be out on July 31. The stock was up nearly 2%.
Anus Laboratories stock has gone ex-bonus with ratio of 1:1 (the company issued one share for every one share held). The stock shot up 19.7%.
All the BSE sectoral indices ended in the green barring the Bankex. The BSE Realty Index surged 4.3%, as Parsvnath, DLF, Omaxe, Orbit Corporation, HDIL, Ackruti City and Unitech gained 3-7.9%. Indiabulls Real was up 1.42%.
In the metal space, Tata Steel and Jindal Saw were up nearly 6% each. Hindalco and Sterlite were up 3% each. Jindal Steel, JSW Steel and Gujarat NRE Coke gained 1-2.7%.
Technology stocks like HCL Tech, Mphasis, Infosys, Tech Mahindra and TCS went up 1-4%. Wipro was up 0.69%.
In the telecom space, Idea Cellular surged 4.82% on good numbers for Q1FY10. MTNL, Bharti Airtel and Tata Teleservices were up 1.5-3.7%. Reliance Communication rose 0.58%.
In the power space, Suzlon Energy, Lanco Infratech, Reliance Power, Tata Power and NTPC were up 1.4-7%.
Capital goods stocks like ABB, Punj Lloyd and BHEL gained 1.6-3.4%. L&T was up 0.68%.
In the FMCG space, Godrej Consumer, Nestle, United Spirits, HUL and Britannia were up 2-5.7%. Tata Tea and ITC moved up just 0.7%.
Banking stocks like Union Bank was up 5%. PNB, SBI and ICICI Bank (Q1FY10 numbers to be announced on July 25) lost 1-2.5%. HDFC Bank and Axis Bank fell marginally.
Oil & gas stocks like Cairn India and ONGC went up 3% each. HPCL was up 1.27%.
On the losing side, Reliance Industries, HDFC, SAIL, Sun Pharma, Ambuja Cements and ACC were down 1-2%.
The market breadth was positive; about 1839 shares advanced while 951 shares declined on the BSE. Nearly 375 shares remained unchanged.
Total traded turnover was at Rs 99,910.90 crore as against Rs 1,01,981.66 crore on Thursday. This included Rs 20,496.03 crore from the NSE cash segment, Rs 72,581.23 crore from the NSE F&O and the balance Rs 6,833.64 crore from the BSE cash segment.
Nifty trades above 4550; Maruti at all-time high
At 14:55 hours IST, the markets were trading higher led by buying in metal, auto, technology, power, capital goods, realty and telecom stocks. ONGC was the leading player in the Nifty, rose 3%.
Bharti Airtel went ex-split today. The company split the face value from Rs 10 to Rs 5 a share. It has gone into non-delivery period and will be out on July 31. The stock was up nearly 3%.
Anus Laboratories stock has gone ex-bonus with ratio of 1:1 (the company issued one share for every one share held). The stock shot up 19.7%.
However, Reliance Industries, SBI, HDFC, SAIL, HDFC Bank, Sun Pharma, PNB, ICICI Bank, Ambuja Cements, Cipla, ACC and Siemens were under pressure, which was putting pressure at higher levels.
The Nifty rose 41 points, to 4,565 and the Sensex gained 135 points at 15,366. The broader indices were up 1.6%. About 1768 shares advanced while 1005 shares declined on the BSE. Nearly 392 shares were unchanged.
On the sectoral front, Auto Index surged 4.5%. Realty Index rose 3.5% and Metal up 2.4%. TECk, IT, Capital Goods, Power and FMCG indices were up 1.4-1.9%.
In the auto space, Maruti Suzuki shot up 6% and touched a new 52-week high at Rs 1397.50. Bharat Forge surged 11.24%, as its sales went up 23% on QoQ basis while saw sharp decline on YoY basis.
Tata Motors was up 8.93%. Ashok Leyland, Amtek Auto, Exide Industries, Hero Honda, Escorts, Bosch and M&M were up 2.5-7%.
Metals, auto lead mkts higher; Maruti at all-time high
At 13:45 hours IST - the markets gained strength, after seeing consolidation since early trade. Metal, telecom, capital goods, power, realty, technology and auto stocks were seeing buying interest. ONGC, ICICI Bank and Axis Bank were also supporting the markets. The broader indices extended their gains, up 1.7% each. There was a bit of volatility.
However, Reliance Industries, HDFC, SAIL, SBI, HDFC Bank, PNB, Ambuja Cements and Sun Pharma were losers.
The Nifty surged over 4550 levels and was trading at 4,569, up 46 points. The Sensex rose 147 points, to 15,378. The Nifty July future was trading with 5-8 points premium.
On the sectoral front, Auto, Realty, TECk, IT and Metal indices gained 2-3.4%. Power and Capital Goods indices rose 1.7% each. All sectoral indices were almost in the green.
Maruti Suzuki has touched a 52-week high of Rs 1,371.70. It has touched an intraday high of Rs 1,371.70 and an intraday low of Rs 1,295.
In the laregcaps, Tata Motors was up 7% and Suzlon up 6%. ONGC, Bharti, Infosys, DLF, BHEL, Maruti, Cairn, Tata Steel, Idea and Hero Honda were up 2-4.7%. NTPC and TCS rose 1.5% each.
The market breadth was positive; about 1764 shares advanced while 982 shares declined on the BSE. Nearly 419 shares were unchanged.
Mkts choppy; midcap, smallcap indices outperform
At 12:54 hours IST, the benchmark indices were extremely volatile in trade. Reliance Industries and HDFC lost over 2%. SBI, SAIL, HDFC Bank, PNB, ITC, HUL, Ambuja Cements, Reliance Infrastructure, Siemens, Cipla, Grasim and ACC were the losers among largecaps.
However, buying in auto, metal, realty, technology and telecom stocks was helping the markets. Bharti Airtel shot up 4%; the company reduced its face value to Rs 5 from Rs 10. F&O lot size for the stock now is 500.
The Sensex was up 12 points, to 15,243 and the Nifty rose 5 points, to 4,529. About 824 shares advanced while 389 shares declined on the NSE. The broader indices were up 1% each.
On the sectoral front, the BSE Auto Index rose 2.7%. TECk, Realty, Metal, IT and Capital Goods indices went up 1-1.7%. However, Oil & Gas and Bank indices fell 0.7-1.2%.
In the midcap space, Havells India, Phoenix Mills, Tulip Telecom, TV18 and Amtek Auto were up 6-8%. In the smallcap space, Rico Auto, Shoppers Stop, Whirlpool, Premier and eClerx Services advanced 10-20%.
In the metal space, Jindal Saw, Sterlite, Tata Steel, Hindalco and JSW Steel gained 1-4%. Hindustan Zinc and Jindal Steel gained 0.5% each.
Auto stocks like Tata Motors surged 6.7%. Bharat Forge went up 6%. Maruti Suzuki, Ashok Leyland, Hero Honda and M&M moved up 1-3.7%. Bajaj Auto was up 0.52%.
In the technology space, Tech Mahindra, Infosys and TCS were up 0.9-1.5%. HCL Tech and Wipro were flat. In the realty space, Orbit Corporation, Parsvnath, DLF, HDIL, Omaxe and Unitech gained 1.8-5%.
Telecom stocks like Idea Cellular was up 3%. MTNL and Reliance Communication were up marginally.
However, Union Bank, PNB, Kotak Mahindra, SBI and HDFC Bank slipped 1-4%. ICICI Bank was down just 0.33%.
In the FMCG space, Dabur India, United Breweries and Ruchi Soya declined 1.6-2%. ITC, HUL and Colgate were down 0.4-0.7%.
Mkts consolidate; banks, FMCG, cement dip, auto, metals up
At 11:48 hours IST, the markets were consolidating at current levels after seeing a rally of over 2.5% on Thursday. Realty, auto, metal and technology stocks along with BHEL, Bharti, Idea, ABB and Ranbaxy Labs (the company likely to report good earnings on forex gains) were seeing buying interest.
However, selling in banking, FMCG and cement stocks along with Reliance Communication, SAIL, Reliance Industries, ONGC, Cipla and Siemens capped the gains.
The Sensex was down 27 points, to 15,203 and the Nifty fell 8 points, to 4,515. However, the broader indices were up 0.7% each. The market breadth was positive; about 1591 shares advanced while 1088 shares declined on the BSE. Nearly 486 shares were unchanged.
Satyam, Suzlon Energy, Unitech, DLF, Tata Steel, ICICI Bank and Reliance Industries were the most active shares on the bourses.
Top percentage gainers - Rico Auto, Wendt, Hyderabad Industries, Shoppers Stop, Munjal Auto, GKW and Bhartiya International gained 11-20%.
Top percentage losers - Sarup Tanneries, Alfred Herbert, Sanwaria Agro, Money Matters, Voith Paper, Hitech Plast, Unichem Labs and AI Champdany lost 5-9%.
Mkts volatile with positive bias; auto, telecom, realty up
At 10:30 hours IST, the benchmark indices were trading marginally higher but they were seeing some volatility. FMCG, cement and select oil & gas stocks along with HDFC Bank, HDFC and SAIL were witnessing selling pressure. Reliance Industries was volatile in trade.
However, capital goods, telecom, metal, auto, realty and private power counters were seeing buying interest along with Infosys and TCS.
The Nifty was trading at 4,547, up 23 points and the Sensex rose 82 points, to 15,313. About 807 shares advanced while 276 shares declined on the NSE.
BHEL, Bharti Airtel, Infosys, Sterlite, DLF, Maruti, Idea (good set of numbers), TCS, Tata Steel, Tata Motors and Tata Power were leading counters.
In the midcap space, Havells India, HT Media, Amtek Auto, Gujarat State Petronet (on strong earnings) and KEC International gained 5-9% while Thomas Cook, United Breweries, Novartis India, Madras Cements and Allcargo Global fell 1.5-3%.
In the smallcap space, Rico Auto, Shoppers Stop, Ahmednagar Forgings, MIC Electronics and Vipul were up 9-20% while Panyam Cements, HSIL, Kwality Dairy, Sanwaria Agro and WABCO-TVS slipped 3.5-7%.
Mkts open positive on good global cues; Infy, ICICI Bank up
The markets opened positive on strong global cues especially led by the US markets. The Nifty tested the 4550, but both the indices turned into consolidation, as they rallied smartly on Thursday. Metal, telecom, realty and select infrastructure stocks were the gainers.
At 9:56 am, the Nifty was up 31 points, to 4,555 and the Sensex gained 103 points, at 15,334. The CNX Midcap rose 61 points, to 5,737 and the Nifty Junior went up 81 points, to 8,196. About 600 shares advanced while 73 shares declined on the NSE.
Among the frontliners, Suzlon Energy, Idea Cellular, Nalco, Reliance Power, Unitech, Infosys, ICICI Bank (ahead of numbers on July 25). Bharti Airtel, Tata Steel, Cairn, Jindal Steel & Power, L&T and DLF were the gainers.
Infosys Technologies was trading above Rs 2000 mark.
However, Ambuja Cements was down 3.6%, as its bottomline declined sharply. ONGC was down 1.5% on weak earnings.
ITC, GAIL and HUL were the other losers.
Midcap space:
Bhart Forge slipped 1.5% as its Q1 bottomline as well as topline performance was weak.
GSPL surged 4.5% and PNB Gilts up 8.5% on good Q1 earnings.
Alston Projects was up 2.6%. Mahindra Satyam rose 3.8%. Aban Offshore went up 2.4%. Maytas Infra shot up 5%.
However, Hexaware Tech was down 2.5%.
Global cues:
Asian markets were trading higher. Shanghai, Jakarta and Straits Times were up 1.3% each. Hang Seng, Nikkei and Kospi were up 0.3-0.7%. Taiwan was flat. SGX Nifty was up 0.7%.
US markets rallied on Thursday. The S&P 500 Index closed at 2009 highs and broke past the 960 mark. It was at highest level since November. The Dow Jones closed above 9000 for the first time since Jan 2009. The Nasdaq clocked 12th straight day of gain.
The Dow gained 188.03 points, or 2.1%, to 9,069.29. The S&P 500 index rose 22.22 points, or 2.3%, to 976.29. The Nasdaq Composite Index rose 47.22 points, or 2.5%, to 1,973.60.
Triggers were good results and existing home sales data. Higher home sales offset weak jobless claims data.
Commodity watch:
Reuters CRB gained nearly 2%.
Crude was trading at 3-week highs. It was up 2.7% to $67/bbl level. US fuel demand was down 4.8% (YoY).
Base metals headed for second weekly gain. Copper gained 1% to $5545/tonne.
Sugar was up 2% to 3-year high.
Gold went up over 1 dollar to $954.80/ounce.
Market cues:
-Numbers today: RIL, numbers tomorrow: ICICI Bank
-FIIs net buy USD 30.1 million in equity on July 22
-MFs net sell Rs 284.9 crore in equity on July 22
-NSE F&O Open Int up by Rs 4643 crore at Rs 90697 crore
-FIIs net buy Rs 512 crore in cash markets on July 23 (Prov)
-DIIs net sell Rs 34 crore in cash markets on July 23 (Prov)
-FIIs net buy Rs 292 crore in F&O on July 23
F&O cues:
-Stock Futures add 6 cr shares in Open Int
-Futures Open Int up Rs 3974 crore and Options Open Int up Rs 669 crore
-Nifty July Futures add 8 lakh shares in Open Int
-Nifty Aug Futures add 21 lakh shares in Open Int
-Nifty Jul at 11-point premium, Aug at 12-point premium
-Nifty Open Int PCR at 1.29 versus 1.22
-Nifty Puts add 21 lakh shares in Open Int
-Nifty Calls shed 9 lakh shares in Open Int
-Nifty 4400 Put adds 5 lakh shares in Open Int
-Nifty 4500 Put adds 5 lakh shares in Open Int
-Nifty 4600 Put adds 5 lakh shares in Open Int
-Nifty 4400 Call sheds 5 lakh shares in Open Int
-Nifty 4300 Call sheds 5 lakh shares in Open Int
Thursday, July 23, 2009
Nifty ends above 4500 led by metals, realty, FMCG, auto
It was a spectacular recovery for the markets after two consecutive days of fall. Huge buying across all the sectors, especially realty, metal, FMCG, auto and infrastructure supported the Nifty to end above the 4500 mark and the Sensex above the 15,000 level successfully. All the sectoral indices ended in the green.
Strong earnings from largecaps like Maruti Suzuki, ITC and ACC also cheered the street; respective stocks surged over 5%. Bharti Airtel's US GAAP numbers were also good but the stock tanked a bit. Today's star performer was Mahindra Satyam, which joined the league of top 5 IT companies on the basis of market cap. The stock surged 14.2% on huge volumes and ended above the Rs 100 mark after more than six months (It had seen Rs 100 mark on January 7, 2009) and Tech Mahindra gained just 1.87%.
ACC's Q2CY09 net profit rose 73.54% to Rs 471 crore and revenues were up 15.27% to Rs 2,100 crore, YoY. However, Bharti Airtel's Q1 numbers were good but the stock fell 1%. Bharti Airtel's net profit went up 12.4% to Rs 2,517 crore and revenues increased 1.19% to Rs 9,941.6 crore, QoQ (US GAAP).
Ajay Loganadan, Head of Investment Advisory Group at HSBC Private Banking said earnings have surprised on the upside. "So far the numbers have just been much better than what the street was expecting. On an average, 280 companies have reported their numbers so far and 7-8% topline growth is probably better-than-expected but on the bottomline side we have seen 32-33% growth which is much better than what the market was expecting."
"A reflection that raw material costs have come off fairly significantly and the cost tightening that most companies have adopted over the last quarter or two, so that seems to be very strong. If we continue to get flows both from the foreign institutional investor (FII) as well as domestic money continuing to participate then we could certainly see the markets move higher."
In the realty space, DLF, HDIL, Unitech and Orbit Corporation gained 5-6.8%. Indiabulls Real rose 3.36%. Respective Index shot up 5%.
Metal stocks like Hindalco, Sterlite, Hindustan Zinc, Jindal Steel, Jindal Saw, SAIL, JSW Steel and Tata Steel were up 4-6%. The Index was up over 4%.
In the FMCG space, United Breweries went up 11.4%. Britannia, HUL, Colgate, Nestle and Tata Tea were up 2-4%. Auto stocks like Tata Motors, M&M, Bharat Forge, Hero Honda and Ashok Leyland gained 1.9-4.8%.
In the pharma pack, Glenmark, Dr Reddys Labs, Cipla, Biocon (Q1 sales up 86% and net profit up 314%), Ranbaxy Labs, Apollo Hospital and Sun Pharma were up 1.5-6.7%.
In the power space, Reliance Infrastructure, Suzlon Energy, Power Grid Corp, Reliance Power, Lanco Infratech, GMR Infra, Neyveli Lignite, Tata Power and NTPC moved up 2-7%.
Oil & gas stocks like Reliance Industries, Reliance Petroleum and BPCL were up 2.4-3%. HPCL was up 0.83%.
In the capital goods pack, L&T, Punj Lloyd, Siemens (Q1 numbers were good), Crompton Greaves, ABB and BHEL went up 0.8-2.9%.
Technology stocks like HCL Tech, TCS, Infosys and Wipro gained 1-3.5%. In the banking space, PNB, Axis Bank, Kotak Mahindra, SBI, ICICI Bank and Bank of Baroda were up 1.4-4.5%. HDFC Bank was up 0.66%.
In the telecom pack, Reliance Communication, Idea Cellular and Tata Communication surged 3.7-4.9%. Tata Teleservices and MTNL were up 1.7-2.2%.
Volumes remained above the Rs 1 lakh crore mark; total traded turnover was at Rs 1,01,981.66 crore as against Rs 1,19,647.60 crore. This included Rs 19,043.47 crore from the NSE cash segment, Rs 74,885.56 crore from the NSE F&O and the balance Rs 8,052.63 crore from the BSE cash segment.
The market breadth was in favour of advances; about 1864 shares advanced while 903 shares declined on the BSE. Nearly 398 shares remained unchanged.
In the midcap space, United Breweries, Birla Corporation, Era Infra Engg, OnMobile Global and KEC International were up 8.7-11%.
In the smallcap space, Kirloskar Ferro, Eveready Industries, KRBL, Hexaware Tech and Automotive Axle gained 11-19%.
Global cues:
Asian markets ended higher. Hang Seng surged nearly 3%. Shanghai, Jakarta and Straits Times were up 1-1.65%. Nikkei was up 0.7%. Kospi and Taiwan Weighted were flat.
At the time of closing of Indian equities, European markets were marginally in the red while the US futures were trading with modest gains.
Mkts surge; Maruti, ITC, ACC strong on good nos
At 14:22 hours IST - the benchmark indices were trading strong and maintained their uptrend. Good numbers from Maruti, ITC, ACC and Indian Bank were also buoyed the street; respective stocks surged 3.7-6%.
Technology, banking, FMCG, realty, oil & gas, infrastructure and auto stocks were witnessing buying interest. Only two stocks - Sun Pharma, Bharti Airtel - were trading lower among the Nifty 50 and Sensex 30 stocks.
The Nifty surged 108 points, to 4,507 and the Sensex gained 336 points at 15,179. About 920 shares advanced while 305 shares declined on the NSE.
Reliance Industries, ITC, SAIL, DLF, Infosys, L&T, Sterlite, TCS, SBI, NTPC, Maruti, Reliance Communication, Reliance Infrastructure, ICICI Bank and ONGC were leading contributors.
All sectoral indices were in the green. The BSE Metal, Realty, FMCG and Auto indices rose 3-4%. IT, Oil & Gas, Capital Goods, Power and Healthcare indices gained 2% each. Bank and TECk indices rose 1.5%. The broader indices went up 2% each.
In the midcap space, United Breweries, OnMobile Global, Birla Corporation, HT Media and Glenmark were up 7.5-11%.
In the smallcap space, Eveready Industries, KRBL, Vipul, Jindal Drilling and Hexaware Tech went up 9-14%.
Mkts trading strong; realty, metal, FMCG, IT surge
At 13.19 hrs IST - the markets were trading higher as buying was seen across the sectors. The Sensex and Nifty continued to trade above the 15000 and 4450 levels. Buying was seen in realty, metal, FMCG, IT, auto, capital goods, oil & gas, pharma, power and banking stocks.
Reliance, Infosys, ICICI Bank, L&T and HDFC were positive contributors to the Sensex. Out of the BSE Sensex 30 stocks, only 3 stocks were trading negative - Bharti Airtel, Sun Pharma and ONGC.
The Sensex was up 258.53 points or 1.74% at 15101.65, and the Nifty was up 77.50 points or 1.76% at 4476.40.
About 1703 shares advanced while 1001 shares declined on the BSE. Nearly 461 shares were unchanged.
Top gainers on the Sensex was Hindalco at Rs 90.15 up 5.44%, Sterlite Ind at Rs 633 up 5.27%, ITC at Rs 227.55 up 4.45%, Tata Motors at Rs 337.25 up 3.91% and DLF at Rs 359.50 up 3.84%.
Vibhav Kapoor, IL&FS: The Nifty is likely to be ranged between 4200-4600. Quarterly earnings are better-than-expected but have been priced in as valuations are not cheap. The downside looks capped in the near-term.
The midcap and smallcap indices were up 1.5% each.
Top gainers on the BSE Midcap - United Breweries, OnMobile Global, Blue Star, HT Media and Birla Corp were up 6-12%.
Top gainers on the BSE Smallcap – KRBL, Eveready Ind, Jindal Drilling, Elantas Beck and Hexaware Tech were up 10-12%.
Mkts northbound; ITC, RIL, Infy, L&T, Sterlite, SBI lead
At 12:11 hours IST, buying in metal, banking, auto, realty, technology, power and capital goods stocks was helping the markets to stay on the higher side. However, selling in few stocks like Bharti, Sun Pharma, Ambuja Cements, HDFC Bank, Tata Power and ONGC capped the gains.
The Sensex was up 163 points, to 15,007 and the Nifty rose 52 points, to 4,451. The Nifty July future was trading with 10-11 points premium. The broader indices were up over 1%.
The market breadth also reduced its gap; about 1656 shares advanced while 1010 shares declined on the BSE. Nearly 499 shares were unchanged.
KEC International bagged orders worth Rs 471 crore. The stock shot up over 5%.
All sectoral indices were in the green; BSE Metal, FMCG and Realty indices were up 2-2.9%. IT, Auto, Capital Goods and Power indices gained 1-1.5%. Healthcare, Bank, TECk and Oil & Gas indices rose 0.8% each.
Reliance Industries, Infosys, ICICI Bank, L&T, HDFC, ITC, SAIL and Sterlite were leading contributors.
Top percentage gainers - Vadilal Industries, United Breweries, ABM Knowledge, Liberty Shoes, Galaxy Multimedia, GKW, OnMobile Global and Kaveri Seed were up 12-19%.
In the midcap space, Piramal Healthcare, MindTree, Karnataka Bank, Gammon Infra and BOC India fell 3-4.5%. In the smallcap space, Forbes Gokak, Mastek, KGN Industries, TRF and Infomedia 18 fell 5-8.5%.
Mkts extend rally; all sectoral indices in green
At 10:58 hours IST, the benchmark indices moved up further on the back of upside in rate sensitive, infrastructure, metal, FMCG and technology stocks. The broader indices were also following the same trend, gained 1.7% each.
The Sensex surged 271 points, to 15,114 and the Nifty gained 85 points at 4,484. The Nifty July future was trading with 10 points premium.
All the sectoral indices were in the green. Bharti Airtel and Sun Pharma were only two losers among the Nifty 50 and Sensex 30 stocks. ONGC and Ambuja Cements were flat.
The market breadth was positive; about 1792 shares advanced while 864 shares declined on the BSE. Nearly 509 shares were unchanged.
In the banking space, Kotak Mahindra, Axis Bank, ICICI Bank, Bank of Baroda, SBI and PNB were up 1.8-3.4%. Union Bank and HDFC Bank were up 0.6% each.
Realty stocks like Orbit Corporation, DLF, Indiabulls Real, HDIL and Unitech went up 2.7-4.5%. Auto stocks like Tata Motors, M&M, Maruti Suzuki, Hero Honda, Bharat Forge, Bajaj Auto and Ashok Leyland were up 1-2.8%.
In the metal space, Sterlite Industries, Hindalco, Tata Steel, JSW Steel, Jindal Saw, SAIL, Jindal Steel, Sesa Goa and Hindustan Zinc gained 2.2-4.8%.
Technology stocks like TCS, HCL Tech, Patni Computer, Infosys and Wipro went up 1.5-3%.
In the midcap space, OnMobile Global was up 14%. Blue Star, Opto Circuits, Era Infra Engg and United Breweries were up 5-7.6%.
In the smallcap space, Jindal Drilling, Swan Mills, Manappuram, Elantas Beck and Kesoram went up 7.7-11.4%.
Sensex above 15K led by telecom, banks, metals, realty
The markets bounced back with good gains after two days of downfall. Positive Asian cues were helping the markets. Buying was seen in banking, telecom, realty and metal stocks. The Sensex turned back above the 15,000 mark and the Nifty was above the 4400 level.
At 9:57 am, the Nifty was up 69 points, to 4,468 and the Sensex gained 229 points at 15,073. The CNX Midcap and BSE Smallcap indices were up 1% each, to 5,658 and 5,889, respectively. About 660 shares advanced while 79 shares declined on the NSE.
Suzlon Energy, Reliance Infrastructure, Reliance Communication, Tata Steel, Sterlite, DLF, Unitech, ICICI Bank, Reliance Capital, Hindalco, SBI, TCS, Infosys were the gainers.
Bharti Airtel was up 3.5%, as its Q1 bottomline was better-than-expected, went up 12%. Reliance Communication rose 3.5% and Idea gained 3%.
Sun Pharma lost 7%, as its arm Caraco is facing class action suit in US for allegedly failing to disclose adequate information.
Midcap space
IFCI was up 3% and Mahindra Satyam gained 3.3%. Biocon was up 2.3% on good Q1FY10 numbers. Finolex Cables was also up 5.6% on good numbers.
Indiabulls Securities and Moser Baer went up 3.5% each. WWIL rose 1% and Jindal Drilling gained 7.5% on good set of numbers.
However, Deccan Chronicle lost 2% and Tech Mahindra fell 1%.
Global Cues:
Asian markets were trading higher. Hang Seng surged 2.4%. Nikkei, Jakarta and Straits Times were up 1% each. Kospi rose 0.6%. Taiwan Weighted was flat. SGX Nifty was up 1%.
The US markets lost some momentum after rallying nearly 10% in the last 7 trading sessions. They ended flat. The Nasdaq Composite ended in the green for 11th day, longest stretch since 1996; it was helped by Apple, which rallied 3.5% post good results.
The Dow Jones Industrial Average ended down 35 points at 8,881. The Nasdaq Composite was up 10 points at 1,927 and the S&P 500 was flat at 954.
Commodities:
Crude declined 0.3% to $65.4/bbl after crude supplies fell by 1.8 million barrels.
Baltic Dry Index was down 1.5%, bringing its 3-day decline to 4%.
Gold was up 0.7% to $953.3 an ounce.
Copper gained 2% to settle above $5500/tonne, at 9-month highs.
Aluminium was up 10% in 2 weeks.
Market cues:
-FIIs net buy USD 10.4 milion in cash on July 21
-MFs net buy Rs 104 crore in cash on July 21
-Total F&O Open Int down by Rs 74 crore at Rs 86,053 crore
-FIIs net buy Rs 66 crore in cash on July 22 (prov)
-DIIs net sell Rs 224 crore in cash on July 22 (prov)
-FIIs net sell Rs 451 crore in F&O on July 22
F&O cues:
-Total Futures Open Interest down by Rs 732 crore and Total Options Open Interest up by Rs 659 crore
-Nifty down 1.6%, Futures Open Interest up unchanged
-Nifty July Futures trading at a 6-pt prem versus 4-pt prem
-Nifty IVs at 32-35% levels
-Nfty Open Interest Put Call Ratio at 1.22 versus 1.23
-Nifty Calls add 7.9 lakh shares in Open Interest
-Nifty Puts add 4.3 lakh shares in Open Interest
-Nifty 4400 Call adds 4.8 lakh shares
-Nifty 4000 Put adds 2.4 lakh shares
-Nifty 4100 Put sheds 3.7 lakh shares
-Nifty 4200 Call sheds 3 lakh shares
-Stock Futures shed 79 lakh shares in Open Interest
Strong earnings from largecaps like Maruti Suzuki, ITC and ACC also cheered the street; respective stocks surged over 5%. Bharti Airtel's US GAAP numbers were also good but the stock tanked a bit. Today's star performer was Mahindra Satyam, which joined the league of top 5 IT companies on the basis of market cap. The stock surged 14.2% on huge volumes and ended above the Rs 100 mark after more than six months (It had seen Rs 100 mark on January 7, 2009) and Tech Mahindra gained just 1.87%.
ACC's Q2CY09 net profit rose 73.54% to Rs 471 crore and revenues were up 15.27% to Rs 2,100 crore, YoY. However, Bharti Airtel's Q1 numbers were good but the stock fell 1%. Bharti Airtel's net profit went up 12.4% to Rs 2,517 crore and revenues increased 1.19% to Rs 9,941.6 crore, QoQ (US GAAP).
Ajay Loganadan, Head of Investment Advisory Group at HSBC Private Banking said earnings have surprised on the upside. "So far the numbers have just been much better than what the street was expecting. On an average, 280 companies have reported their numbers so far and 7-8% topline growth is probably better-than-expected but on the bottomline side we have seen 32-33% growth which is much better than what the market was expecting."
"A reflection that raw material costs have come off fairly significantly and the cost tightening that most companies have adopted over the last quarter or two, so that seems to be very strong. If we continue to get flows both from the foreign institutional investor (FII) as well as domestic money continuing to participate then we could certainly see the markets move higher."
In the realty space, DLF, HDIL, Unitech and Orbit Corporation gained 5-6.8%. Indiabulls Real rose 3.36%. Respective Index shot up 5%.
Metal stocks like Hindalco, Sterlite, Hindustan Zinc, Jindal Steel, Jindal Saw, SAIL, JSW Steel and Tata Steel were up 4-6%. The Index was up over 4%.
In the FMCG space, United Breweries went up 11.4%. Britannia, HUL, Colgate, Nestle and Tata Tea were up 2-4%. Auto stocks like Tata Motors, M&M, Bharat Forge, Hero Honda and Ashok Leyland gained 1.9-4.8%.
In the pharma pack, Glenmark, Dr Reddys Labs, Cipla, Biocon (Q1 sales up 86% and net profit up 314%), Ranbaxy Labs, Apollo Hospital and Sun Pharma were up 1.5-6.7%.
In the power space, Reliance Infrastructure, Suzlon Energy, Power Grid Corp, Reliance Power, Lanco Infratech, GMR Infra, Neyveli Lignite, Tata Power and NTPC moved up 2-7%.
Oil & gas stocks like Reliance Industries, Reliance Petroleum and BPCL were up 2.4-3%. HPCL was up 0.83%.
In the capital goods pack, L&T, Punj Lloyd, Siemens (Q1 numbers were good), Crompton Greaves, ABB and BHEL went up 0.8-2.9%.
Technology stocks like HCL Tech, TCS, Infosys and Wipro gained 1-3.5%. In the banking space, PNB, Axis Bank, Kotak Mahindra, SBI, ICICI Bank and Bank of Baroda were up 1.4-4.5%. HDFC Bank was up 0.66%.
In the telecom pack, Reliance Communication, Idea Cellular and Tata Communication surged 3.7-4.9%. Tata Teleservices and MTNL were up 1.7-2.2%.
Volumes remained above the Rs 1 lakh crore mark; total traded turnover was at Rs 1,01,981.66 crore as against Rs 1,19,647.60 crore. This included Rs 19,043.47 crore from the NSE cash segment, Rs 74,885.56 crore from the NSE F&O and the balance Rs 8,052.63 crore from the BSE cash segment.
The market breadth was in favour of advances; about 1864 shares advanced while 903 shares declined on the BSE. Nearly 398 shares remained unchanged.
In the midcap space, United Breweries, Birla Corporation, Era Infra Engg, OnMobile Global and KEC International were up 8.7-11%.
In the smallcap space, Kirloskar Ferro, Eveready Industries, KRBL, Hexaware Tech and Automotive Axle gained 11-19%.
Global cues:
Asian markets ended higher. Hang Seng surged nearly 3%. Shanghai, Jakarta and Straits Times were up 1-1.65%. Nikkei was up 0.7%. Kospi and Taiwan Weighted were flat.
At the time of closing of Indian equities, European markets were marginally in the red while the US futures were trading with modest gains.
Mkts surge; Maruti, ITC, ACC strong on good nos
At 14:22 hours IST - the benchmark indices were trading strong and maintained their uptrend. Good numbers from Maruti, ITC, ACC and Indian Bank were also buoyed the street; respective stocks surged 3.7-6%.
Technology, banking, FMCG, realty, oil & gas, infrastructure and auto stocks were witnessing buying interest. Only two stocks - Sun Pharma, Bharti Airtel - were trading lower among the Nifty 50 and Sensex 30 stocks.
The Nifty surged 108 points, to 4,507 and the Sensex gained 336 points at 15,179. About 920 shares advanced while 305 shares declined on the NSE.
Reliance Industries, ITC, SAIL, DLF, Infosys, L&T, Sterlite, TCS, SBI, NTPC, Maruti, Reliance Communication, Reliance Infrastructure, ICICI Bank and ONGC were leading contributors.
All sectoral indices were in the green. The BSE Metal, Realty, FMCG and Auto indices rose 3-4%. IT, Oil & Gas, Capital Goods, Power and Healthcare indices gained 2% each. Bank and TECk indices rose 1.5%. The broader indices went up 2% each.
In the midcap space, United Breweries, OnMobile Global, Birla Corporation, HT Media and Glenmark were up 7.5-11%.
In the smallcap space, Eveready Industries, KRBL, Vipul, Jindal Drilling and Hexaware Tech went up 9-14%.
Mkts trading strong; realty, metal, FMCG, IT surge
At 13.19 hrs IST - the markets were trading higher as buying was seen across the sectors. The Sensex and Nifty continued to trade above the 15000 and 4450 levels. Buying was seen in realty, metal, FMCG, IT, auto, capital goods, oil & gas, pharma, power and banking stocks.
Reliance, Infosys, ICICI Bank, L&T and HDFC were positive contributors to the Sensex. Out of the BSE Sensex 30 stocks, only 3 stocks were trading negative - Bharti Airtel, Sun Pharma and ONGC.
The Sensex was up 258.53 points or 1.74% at 15101.65, and the Nifty was up 77.50 points or 1.76% at 4476.40.
About 1703 shares advanced while 1001 shares declined on the BSE. Nearly 461 shares were unchanged.
Top gainers on the Sensex was Hindalco at Rs 90.15 up 5.44%, Sterlite Ind at Rs 633 up 5.27%, ITC at Rs 227.55 up 4.45%, Tata Motors at Rs 337.25 up 3.91% and DLF at Rs 359.50 up 3.84%.
Vibhav Kapoor, IL&FS: The Nifty is likely to be ranged between 4200-4600. Quarterly earnings are better-than-expected but have been priced in as valuations are not cheap. The downside looks capped in the near-term.
The midcap and smallcap indices were up 1.5% each.
Top gainers on the BSE Midcap - United Breweries, OnMobile Global, Blue Star, HT Media and Birla Corp were up 6-12%.
Top gainers on the BSE Smallcap – KRBL, Eveready Ind, Jindal Drilling, Elantas Beck and Hexaware Tech were up 10-12%.
Mkts northbound; ITC, RIL, Infy, L&T, Sterlite, SBI lead
At 12:11 hours IST, buying in metal, banking, auto, realty, technology, power and capital goods stocks was helping the markets to stay on the higher side. However, selling in few stocks like Bharti, Sun Pharma, Ambuja Cements, HDFC Bank, Tata Power and ONGC capped the gains.
The Sensex was up 163 points, to 15,007 and the Nifty rose 52 points, to 4,451. The Nifty July future was trading with 10-11 points premium. The broader indices were up over 1%.
The market breadth also reduced its gap; about 1656 shares advanced while 1010 shares declined on the BSE. Nearly 499 shares were unchanged.
KEC International bagged orders worth Rs 471 crore. The stock shot up over 5%.
All sectoral indices were in the green; BSE Metal, FMCG and Realty indices were up 2-2.9%. IT, Auto, Capital Goods and Power indices gained 1-1.5%. Healthcare, Bank, TECk and Oil & Gas indices rose 0.8% each.
Reliance Industries, Infosys, ICICI Bank, L&T, HDFC, ITC, SAIL and Sterlite were leading contributors.
Top percentage gainers - Vadilal Industries, United Breweries, ABM Knowledge, Liberty Shoes, Galaxy Multimedia, GKW, OnMobile Global and Kaveri Seed were up 12-19%.
In the midcap space, Piramal Healthcare, MindTree, Karnataka Bank, Gammon Infra and BOC India fell 3-4.5%. In the smallcap space, Forbes Gokak, Mastek, KGN Industries, TRF and Infomedia 18 fell 5-8.5%.
Mkts extend rally; all sectoral indices in green
At 10:58 hours IST, the benchmark indices moved up further on the back of upside in rate sensitive, infrastructure, metal, FMCG and technology stocks. The broader indices were also following the same trend, gained 1.7% each.
The Sensex surged 271 points, to 15,114 and the Nifty gained 85 points at 4,484. The Nifty July future was trading with 10 points premium.
All the sectoral indices were in the green. Bharti Airtel and Sun Pharma were only two losers among the Nifty 50 and Sensex 30 stocks. ONGC and Ambuja Cements were flat.
The market breadth was positive; about 1792 shares advanced while 864 shares declined on the BSE. Nearly 509 shares were unchanged.
In the banking space, Kotak Mahindra, Axis Bank, ICICI Bank, Bank of Baroda, SBI and PNB were up 1.8-3.4%. Union Bank and HDFC Bank were up 0.6% each.
Realty stocks like Orbit Corporation, DLF, Indiabulls Real, HDIL and Unitech went up 2.7-4.5%. Auto stocks like Tata Motors, M&M, Maruti Suzuki, Hero Honda, Bharat Forge, Bajaj Auto and Ashok Leyland were up 1-2.8%.
In the metal space, Sterlite Industries, Hindalco, Tata Steel, JSW Steel, Jindal Saw, SAIL, Jindal Steel, Sesa Goa and Hindustan Zinc gained 2.2-4.8%.
Technology stocks like TCS, HCL Tech, Patni Computer, Infosys and Wipro went up 1.5-3%.
In the midcap space, OnMobile Global was up 14%. Blue Star, Opto Circuits, Era Infra Engg and United Breweries were up 5-7.6%.
In the smallcap space, Jindal Drilling, Swan Mills, Manappuram, Elantas Beck and Kesoram went up 7.7-11.4%.
Sensex above 15K led by telecom, banks, metals, realty
The markets bounced back with good gains after two days of downfall. Positive Asian cues were helping the markets. Buying was seen in banking, telecom, realty and metal stocks. The Sensex turned back above the 15,000 mark and the Nifty was above the 4400 level.
At 9:57 am, the Nifty was up 69 points, to 4,468 and the Sensex gained 229 points at 15,073. The CNX Midcap and BSE Smallcap indices were up 1% each, to 5,658 and 5,889, respectively. About 660 shares advanced while 79 shares declined on the NSE.
Suzlon Energy, Reliance Infrastructure, Reliance Communication, Tata Steel, Sterlite, DLF, Unitech, ICICI Bank, Reliance Capital, Hindalco, SBI, TCS, Infosys were the gainers.
Bharti Airtel was up 3.5%, as its Q1 bottomline was better-than-expected, went up 12%. Reliance Communication rose 3.5% and Idea gained 3%.
Sun Pharma lost 7%, as its arm Caraco is facing class action suit in US for allegedly failing to disclose adequate information.
Midcap space
IFCI was up 3% and Mahindra Satyam gained 3.3%. Biocon was up 2.3% on good Q1FY10 numbers. Finolex Cables was also up 5.6% on good numbers.
Indiabulls Securities and Moser Baer went up 3.5% each. WWIL rose 1% and Jindal Drilling gained 7.5% on good set of numbers.
However, Deccan Chronicle lost 2% and Tech Mahindra fell 1%.
Global Cues:
Asian markets were trading higher. Hang Seng surged 2.4%. Nikkei, Jakarta and Straits Times were up 1% each. Kospi rose 0.6%. Taiwan Weighted was flat. SGX Nifty was up 1%.
The US markets lost some momentum after rallying nearly 10% in the last 7 trading sessions. They ended flat. The Nasdaq Composite ended in the green for 11th day, longest stretch since 1996; it was helped by Apple, which rallied 3.5% post good results.
The Dow Jones Industrial Average ended down 35 points at 8,881. The Nasdaq Composite was up 10 points at 1,927 and the S&P 500 was flat at 954.
Commodities:
Crude declined 0.3% to $65.4/bbl after crude supplies fell by 1.8 million barrels.
Baltic Dry Index was down 1.5%, bringing its 3-day decline to 4%.
Gold was up 0.7% to $953.3 an ounce.
Copper gained 2% to settle above $5500/tonne, at 9-month highs.
Aluminium was up 10% in 2 weeks.
Market cues:
-FIIs net buy USD 10.4 milion in cash on July 21
-MFs net buy Rs 104 crore in cash on July 21
-Total F&O Open Int down by Rs 74 crore at Rs 86,053 crore
-FIIs net buy Rs 66 crore in cash on July 22 (prov)
-DIIs net sell Rs 224 crore in cash on July 22 (prov)
-FIIs net sell Rs 451 crore in F&O on July 22
F&O cues:
-Total Futures Open Interest down by Rs 732 crore and Total Options Open Interest up by Rs 659 crore
-Nifty down 1.6%, Futures Open Interest up unchanged
-Nifty July Futures trading at a 6-pt prem versus 4-pt prem
-Nifty IVs at 32-35% levels
-Nfty Open Interest Put Call Ratio at 1.22 versus 1.23
-Nifty Calls add 7.9 lakh shares in Open Interest
-Nifty Puts add 4.3 lakh shares in Open Interest
-Nifty 4400 Call adds 4.8 lakh shares
-Nifty 4000 Put adds 2.4 lakh shares
-Nifty 4100 Put sheds 3.7 lakh shares
-Nifty 4200 Call sheds 3 lakh shares
-Stock Futures shed 79 lakh shares in Open Interest
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