Markets Lost Further Grounds - July 06, 2009

The markets lost further grounds and are now trading near the day’s low. The Union Budget failed to provide enthuse the investor’s sentiments today. Finance Minister Pranab Mukherjee withdrew fringe benefit tax (FBT) and abolished the commodities transaction tax (CTT). He also kept the corporate tax unchanged and increased the minimum alternate tax to 15% from 10% of book profit.

The budget focuses more on infrastructure growth. The significant selling witnessed among the Banking, Capital Goods, Metal and Power stocks.

The BSE Sensex is now trading below the 14,100 mark and the NSE Nifty below the 4,200 mark.

The overall market breadth is negative as 624 stocks are advancing while 1848 stocks are declining in BSE.

ITC reported the top gainer from the BSE Sensex pack, as it is trading up by (3.96%) at Rs. 199.40 while Reliance Infra reported the top loser trading down by (11.09%) at Rs. 1,149.

The BSE Sensex is trading down by 828.13 points at 14,084.74 and the NSE Nifty is trading lower by 253.75 points at 4,170.50.

The BSE Mid Cap decreased by 222.71 points to 4,964.51 and the BSE Small Cap fell by 206.75 points to 5,618.20.

The Finance Minister has announced a reduction in the customs duty on LCD television sets to 5 percent from 10 percent currently, in the budget 2009-10 on Monday.

The Metal index is trading with losses of 743.29 points at 10,560.05. Losers from this pack are Tata Steel trading down by 9.03% at Rs398.70 along with Ispat Industries by 7.31% at Rs20.30, Jindal Steel by 7.22% at Rs2,439.90, Hind Zinc by 6.68% at Rs562, SAIL by 6.35% at Rs151.25, Hindalco Inds by 5.73% at Rs78.95, Sesa Goa by 4.88% at Rs178.20, Welspun Guj by 4.86% at Rs187.90, NMDC by 4.59% at Rs344 and Gujarat NRE Coke by 4.61% at Rs40.35.

The Capital Goods index is trading lower by 821.41 points at 12,191.65. Scrips that are trading with deep cut are Punj Lloyd trading down by 10.56% at Rs197.25 followed by Areva by 9.13% at Rs315.50, L&T by 8.01% at Rs1,479, Bharat Bijli by 7.78% at Rs797, Alstom Projects by 6.61% at Rs445.10, ABB by 6.01% at Rs737 and SKF India by 5.15% at Rs242.

The most active shares on NSE are Unitech trading at Rs 76.45 with a total traded quantity of 69435878 shares followed by Suzlon Energy trading at Rs.101.35 with a total traded quantity of 45821027 shares.

Hindustan Dorr Oliver Limited is trading lower by 2.04% at Rs93.55. The company has informed that the Company has bagged an order from CIDCO (City & Industrial Corporation of Maharashtra Limited), Navi Mumbai, for Design, Engineering, Supply, Construction, Erection and Commissioning of their 70 MLD Sewage Treatment Plant coming up in Kharghar, Navi Mumbai.

The project value is 60.3 crores and completion period is 24 months. The project also includes 5 year Operation and Maintenance.

The Company will be installing state-of-the-art Sequential Batch Reactor Technology for treatment of Sewage.

On the global markets front, the European markets are now trading lower as the FTSE 100, DAX and CAC 40 index are trading down by (1.31%), (1.65%) and (1.58%) respectively.

Market Comprehensive Slaughter - July 06, 2009

Markets at broader level plunged in deep red after the UPA budget session which didn’t turn up to investors'' expectations. On a macro level the government allocated Rs. 4,000 crore as an incentive lending to small firms. Also, it extended interest subvention to exporters to seven sectors till March 2010 and will support to exporters hit by global financial crisis.

The government has extended agriculture debt waiver by 6 months and provided additional Rs. 1,000 crore for irrigation.

On the sectoral front, out of 13 Indices, 2 indices advanced whereas 11 indices declined. Fertilizer stocks came under pressure after Finance Minister proposed to change the method of subsidizing fertilizer prices.

Bank stocks fell as government stated that banks and insurance sector will exclude from the divestment plan. Agriculture stocks gained after government thrust on the agriculture sector.

The Market breadth, indicating the overall strength of the market, was weak. On BSE, out of 2,502 stocks traded so far, 705 shares advanced while 1,729 shares declined. Nearly 68 shares are unchanged.

The BSE Sensex is trading lower by 607.60 points at 14,305.44 whereas NSE Nifty is down by 190.59 points at 4,233.65.

The BSE Mid Cap is trading lower by 138.05 points at 5,049.16 and Small cap is trading down by 126.88 points at 5,698.07.

Losers from the BSE Sensex Pack are Reliance Infra plunged 8.31% to Rs. 1184.80 along with Housing Development Finance Co by 7.63% to Rs. 2,388.80, ICICI Bank Limited 7.62% to Rs. 696.60, Tata Steel Limited by 6.67% to Rs. 409.05, HDFC Bank by 6.24% to Rs. 1,421.75, State Bank of India Limited 6.06% to Rs. 1,701.00, Reliance Communication Limited 5.30% to Rs. 276.90, Jaiprakas Associates Limited by 5.08% to Rs. 203.50 and Hindalco Ind slipped 5.01% to Rs. 79.55 among others.

Lone gainer from BSE Sensex was ITC Limited that gained by 2.66% to Rs. 196.90.

The BSE Bankex is lower by 521.85 points or 6.17% at 7,937.85. Stocks trading in red are IDBI Bank Limited fell 8.33% to Rs. 102.95, ICICI Bank Limited 7.62% to Rs. 696.60, Axis Bank 6.29% to Rs. 817.00, HDFC Bank by 6.24% to Rs. 1,421.75 and State Bank of India Limited 6.06% to Rs. 1,701.00 among others.

Glodyne Technoserve Limited fell 2.61% to Rs. 485.95, on profit taking after the stock surged around 24% in the preceding six trading sessions.

SpiceJet Limited gained 0.51% to Rs. 19.55 on reports its major investors have asked to look for acquisition opportunities in the local market.

Hindustan Dorr-Oliver Limited advanced 1.99% to Rs. 97.40 after the company bagged an order worth Rs. 60.30 crore.

Prakash Industries Limited fell 1.39% to Rs. 113.30 despite report the company will raise $100 million through issuing foreign currency convertible bonds to fund its proposed 625 megawatt thermal power project at Chhattisgarh.

DLF Limited plunged 5.04% to Rs. 320.00 despite reports the company has raised Rs. 1,000 crore through sale of land parcels across four cities in the past 4-5 weeks.

Housing Development and Infrastructure Limited fell 2.02% to Rs. 235.05 despite reports a clutch of foreign and domestic institutional investors acquired stakes in the company through a recently completed qualified institutional placement.

Ashok Leyland Limited plunged 5.17% to Rs. 30.25, after total sales declined 44.41% to 3,971 units in June 2009 over June 2008.

Markets Slipped Interested In Negative Territory - July 06, 2009

After a positive start to the market session, the domestic markets off from the early high and slipped into the negative territory after Finance Minister Pranab Mukherjee started presenting the Union Budget in the parliament today. The Finance Minister said to provide all possible assistance for exporters and would help identify new export markets and to extend enhanced export credit guarantee to march 2010. He also said that the agriculture credit target for the fiscal year 2009-10 is Rs3.25 trillion.

The Government would pay additional subvention of 1% to farmers who pay short-term farm loans on schedule and the government would provide additional Rs10bn over the interim budget for irrigation. The Government would also extend agriculture debt waiver by six months.

On a stock specific move, Prakash Industries is trading with a gain of more than 3% as the company is planning to raise $100 million through foreign currency convertible bonds to part-fund its proposed 625 mw thermal power plant at Champa (Chhattisgarh).

During the last hours'''' trading session, buying interest has emerged across Realty, Power, Capital Goods and Banking stocks whereas selling interest seen across Oil & Gas, Metal, Auto and FMCG counters.

Among the BSE sectoral indices, Realty, Power, CG and Banking index inclined by 4.88%, 2.33%, 2.20% and 1.755 respectively, while the Oil & Gas, Auto, Metal index slipped by 0.76%, 0.47% and 0.75% respectively.

Overall the market breadth is positive as 1,441 stocks are trading in red while 678 stocks are in green.

The BSE Sensex down by 14.87 points at 14,898.18 while NSE Nifty down by 15.15 points at 4,409.10.

Besides, the BSE Mid Cap is trading lower by 7.89 points at 5,187.22 while BSE Small Cap is trading marginally higher by 20.31 points at 5,845.26.

Gainers from the BSE Sensex Pack are DLF surged by (5.15%) to Rs. 354.35, along with Reliance Infra by (3.93%) to Rs. 1,343, NTPC by (2.67%) at Rs. 209.80, L&T by (2.60%) at Rs. 1,649.45, Hai Prakash Associate by (2.15%) at Rs. 219 and ICICI Bank by (2.08%) at Rs. 769.75.

Losers from the NSE Nifty Pack are ONGC declined by (1.47%) at Rs. 1,118 along with Tata Steel by (1.29%) at Rs. 432.65, ACC Limited. by (0.90%) at Rs. 760, Grasim Industries by (0.87%) at Rs. 2,387.50, Maruti Suzuki by (0.73%) at Rs. 1,049.10 and HUL by (0.49%) at Rs. 271.85.

BSE Realty is trading up by (3.99%) or 137.07 points at 3,572.30. The major gainers are Mahindra Life inclined by (5.34%) at Rs. 284.90 along with Anant Raj Industries by (5%) at Rs. 117.70, DLF Limited. by (4.81%) at Rs. 353.20, HDIL by (4.67%) at Rs. 251.10 followed by Unitech Limited. by (4.24%) at Rs. 87.20.

BSE Power is trading higher by (2.06%) or 60.22 points at 2,990.45. The top gainers in the index are GVK Power surged by (5.88%) to Rs.45.90 along with Power Grid by (3.82%) to Rs. 117, Suzlon Energy by (2.90%) to Rs. 109.90, followed by NTPC by (2.86%) to Rs. 210.20.

Markets Are Trading At Day High - July 03, 2009

The markets gained further grounds and are now trading at the day’s high after railway Minister presented the populist railway budget. The significant buying witnessed among the Banking, Power, Pharma, Capital Goods and Metal stocks. However, IT and FMCG stocks are still trading lower.

The BSE Sensex is now trading above the 14,800 mark while the NSE Nifty near the 4,400 mark.

The overall market breadth is negative as 1161 stocks are advancing while 1333 stocks are declining in BSE.

HDFC reported the top gainer from the BSE Sensex pack, as it is trading up by (5.60%) at Rs. 2,535 while Hero Honda reported the top loser trading down by (1.63%) at Rs. 1,362.

The BSE Sensex is trading up by 164.36 points at 14,822.85 and the NSE Nifty is trading higher by 50.65 points at 4,399.50.

The BSE Mid Cap increased by 40.92 points to 5,185.19 and the BSE Small Cap grew by 15.03 points to 5,815.27.

The Health Care index is trading with gains by 57.84 points or 1.61% at 3,648.08. Gainers from this pack are Glenmark Pharma trading up by 7.90% at Rs236.20 along with Ranbaxy Labs by 4.24% at Rs252.25, Aurobindo Pharma by 3.94% at Rs504, Cipla by 3.52% at Rs257.25, Lupin Limited by 2.57% at Rs852.05, Biocon by 1.62% at Rs223.35 and Dr. Reddy''s lab by 1.04% at Rs795.25.

The Bank index is trading higher by 137.66 points or 1.66% at 8,415.73. Leading from the gainers pack are ICICI Bank trading up by 2.88% at Rs752.80 in line with SBI by 2.54% to Rs1803.50, Punjab National Bank by 2.53% at Rs684.85, Oriental bank by 2.37% at Rs181.50, Axis bank by 1.98% at Rs870, Bank of India by 1.46% at Rs351.45 and Indian Overseas Bank by 1.38% at Rs88.40.

The most active shares on NSE are Suzlon Energy trading at Rs 106.30 with a total traded quantity of 34209073 shares followed by RNRL Energy trading at Rs.90.10 with a total traded quantity of 27965934 shares.

Sun Pharmaceutical Industries Limited. is trading lower by 0.17% at Rs1143.90. The company has announced receipt of a tentative approval from USFDA for Sun Pharma''''s Abbreviated New Drug Application (ANDA) for generic Optivar, azelastine ophthalmic solution, 0.05%.

Tnls sterile azelastine hydnochloride ophthalmic solution is therapeutically equivalent to Optivar Ophthalmic solution, 0.05% from Medpolnte Pharmaceuticals that has annual sales of approximately USD 48 million.

On the global markets front, the European markets are now trading mixed as the FTSE 100 is trading up by (0.06%) while DAX and CAC 40 index are trading down by (0.07%) and (0.30%) respectively.

Market Traded Unconvinced - July 03, 2009

The key benchmark indices spurted northward after a gyrating opening trade. Weakness in the market came as the improving economic outlook failed a stern test in the form of closely-watched US jobs data. Still market participants are skeptical about swift economic rebound. On the sectoral front, out of 13 Indices, 7 indices advanced whereas 6 indices declined. PSU OMCs advanced for the second day in a row after Government hiked petrol and diesel prices.

Capital Goods stocks gained on hopes the government may boost spending on the infrastructure sector in the upcoming Budget.

Power stocks improved on hopes the government may boost spending on power sector in the budget. However, IT stocks retreated on weak US Job data.

The Market breadth, indicating the overall strength of the market, was negative. On BSE, out of 2,506 stocks traded so far, 1,113 shares advanced while 1,296 shares declined. Nearly 97 shares are unchanged.

The BSE Sensex is trading higher by 53.51 points at 14,712.00 whereas NSE Nifty is up by 14.25 points at 4,363.10.

The BSE Mid Cap is trading higher by 12.65 points at 5,156.93 and Small cap is trading up by 1.88 points at 5,802.12.

Major gainers from the BSE Sensex pack are Housing Development Finance Co spurted 3.32% to Rs. 2,480.20 along with NTPC Limited advanced 1.73% to Rs. 203.30, Mahindra & Mahindra Limited gained 1.62% to Rs. 724.00, Tata Power Limited improved 1.26% to Rs. 1,184.00, State Bank of India Limited advanced 1.20% to Rs. 1780.00, Larsen & Toubro Limited gained 1.11% to Rs. 1,581.00 and Tata Motors Limited improved 0.99% to Rs. 297.20 among others.

Losers from the BSE Sensex Pack are Infosys Technologies Limited plunged 1.84% to Rs. 1762.90 along with Sterlite Technologies Limited by 1.41% to Rs. 625.15, DLF Limited by 1.25% to Rs. 331.25, Hero Honda Motors Limited by 1.18% to Rs. 1368.15, Grasim Industries Limited by 1.07% to Rs. 2,376.05, Bharti Airtel by 2.53% to Rs. 802.00, State Bank of India by 2.52% to Rs. 1,735.00, Reliance Communication Limited 1.06% to Rs. 290.00, Hindalco Industries Limited by 1.06% to Rs. 83.65 and ITC Limited slipped 0.99% to Rs. 189.95.

The BSE Power is higher by 65.80 points or 1.43% at 4,615.76. Stocks trading in green are GVK Power & Infrastructure Limited gained 2.64% to Rs. 42.80, Lanco Infra Limited 2.47% to Rs. 367.00, Power Grid 2.14% to Rs. 112.10, Reliance Infrastructure by 2.03% to Rs. 1,278.00 and NTPC Limited advanced 1.73% to Rs. 203.30 among others.

NTPC Limited advanced 1.73% to Rs. 203.30 on reports it is in talks with Japan Bank for International Cooperation for a loan of $500 million for energy-efficient power projects.

GVK Power & Infrastructure Limited gained 2.64% to Rs. 42.80 on reports a qualified institutional placement by the company was oversubscribed.

EdServ Softsystems Limited spurted 4.91% to Rs. 39.50 after the company bagged an order from the Mother Teresa University.

Balaji Telefilms Limited retreated 3.56% to Rs. 52.80 after the company was slapped on a show cause-cum-demand notice for Rs 63.50 crore by the service tax commissioner

Hindustan Dorr-Oliver Limited fell 0.73% to Rs. 95.20 after the company''s board recommended raising up to Rs. 250 crore by way of rights issue or non-convertible debentures with warrants.

Sun Pharmaceuticals Industries Limited gained 0.46% to Rs. 1,151.10 after the company got tentative approval from the US Food and Drug Administration for marketing the generic version of Optivar.

Cairn India Limited shrunk 2.38% to Rs. 229.25 after crude oil prices slumped nearly 4% on the New York Mercantile Exchange on Thursday, 2 July 2009.

Markets Overseas Across Weakness To The Due Opening - July 03, 2009

Market after a weak opening due to the weakness across overseas markets, the domestic key benchmark indices have recovered lost ground amid high volatility ahead of Rail Budget. On a stock specific move, realty major HDIL is trading up by nearly 0.5% after an announcement that it will raise Rs 1688.4 crore through the issue of shares of QIBs on a private placement basis.

During the last hours'' trading session, buying interest has emerged across Power, Capital Goods (CG) and Healthcare (HC) stocks whereas selling interest seen across IT, TECk and FMCG counters.

Among the BSE sectoral indices, Power, CG and HC stocks inclined by 1.27%, 1.06% and 0.84% respectively, while the IT, TECk and FMCG indices declined by 1.29%, 0.54% and 0.35% respectively.

Overall the market breadth is negative as 1,047 stocks are trading in red while 1007 stocks are in green.

The BSE Sensex marginal up by 0.76 points at 14,659.25 while NSE Nifty down by 2.8 points at 4,346.05.

Besides, the BSE Mid Cap and Small Cap are trading higher by 6.51 points and 7.17 points at 5,150.78 and 5,807.41 respectively.

Gainers from the BSE Sensex Pack are NTPC Limited surged by (1.98%) to Rs. 203.8, along with HDFC by (1.97%) to Rs. 2,447.80, Tata power by (1.62%) at Rs. 1,188.20, Sun Pharmaceutical by (1.24%) at Rs. 1,160.1, BHEL by (1.17%) at Rs. 2,175 and L & T by (0.95%) at Rs. 1,578.50.

Losers from the NSE Nifty Pack are Infosys Tech declined by (1.71%) at Rs. 1,765.9 along with Cairn India by (1.39%) at Rs. 230.65, ONGC by (1.27%) at Rs. 1,112.3, HCL Tech by (1.23%) at Rs. 188.7, Sterlite industries by (1.02%) at Rs. 628.15 and Ambuja Cement by (1.01%) at Rs. 88.5.

BSE IT is trading down by (1.29%) or 42.79 points at 3,276.55. The major losers are Infosys Tech declined by (1.71%) at Rs. 1,765.20 along with NIIT Limited by (1.65%) at Rs. 68.60, Tech Mahindra by (1.38%) at Rs. 760.05, HCL Techno by (1.18%) at Rs. 188.55 followed by Wipro Limited by (0.63%) at Rs. 378.85.

BSE Power is trading higher by (1.27%) or 36.52 points at 2,913.71. The top gainers in the index are Power Grid surged by (2.28%) to Rs.112.25 along with Torrent Power by (2.27%) to Rs. 195.60, Tata Power by (2.04%) to Rs. 1,193.15, followed by Lanco infra by (2.02%) to Rs. 365.40.

Markets Are Unmoving Trading Lower - July 02, 2009

The markets are still trading lower as selling pressure continued among the selective scrips. The investors want to remain in the sidelines ahead of the Budget on Monday. Further the Economic Survey report failed to enthuse the investor’s sentiments. Further the negative opening of the European markets also turned down the sentiments.

The BSE Sensex is now trading below the 14,600 mark while the NSE Nifty below the 4,320 mark.

The overall market breadth is positive as 1369 stocks are advancing while 1157 stocks are declining in BSE.

ONGC reported the top gainer from the BSE Sensex pack, as it is trading up by (5.80%) at Rs. 1,113.60 while Tata Motors reported the top loser trading down by (3.17%) at Rs. 289.80.

The BSE Sensex is trading down by 98.21 points at 14,547.26 and the NSE Nifty is trading lower by 29.45 points at 4,311.45.

The BSE Mid Cap increased by 7.49 points to 5,135 and the BSE Small Cap grew by 39.45 points to 5,796.87.

The Capital Goods index is trading lower by 209.32 points or 1.62% at 12,691.25. Losers from this pack are Usha Martin trading lower by 4.06% at Rs47.25 along with Bhel by 3.03% at Rs2150, Areva by 2.64% at Rs353.70, Alstom Projects by 2.35% at Rs474.55, L&T by 1.67% at Rs1547.90, Walchand In by 1.10% at Rs206 and BEML by 0.72% at Rs1090.

The Metal index is trading with gains of 205.13 points or 1.88% at 11,093.83. Gainers from this pack are Tata Steel trading up by 4.81% at Rs414 in line with Jindal Steel by 4.22% at Rs2620.25, Sterlite Industries by 3.69% at Rs633.75, Hind Zinc by 3.29% at Rs614, Hindalco Industries by 1.68% at Rs84.80, SAIL by 1.63% at Rs156.15 and Sesa Goa by 1.51% at Rs188.40.

The most active shares on NSE are Unitech trading at Rs 82.35 with a total traded quantity of 34814837 shares followed by Suzlon Energy trading at Rs.102.90 with a total traded quantity of 30547004 shares.

Punj Lloyd Limited is trading up by 0.84% at Rs215.80. The company has secured three contracts from Housing and Infrastructure Board, Libya for designing, procurement, installation and commissioning of utilities at Zawara, Ragdaleen and Al Jamail towns in Libya for an aggregate value of Rs 1873.18 Crores (Rupees One Thousand Eight Hundred Seventy Three Crores and Eighteen Lacs only).

The Company has issued a Press Release in this regards. McNally Bharat Engineering Company Limited is trading higher by 7.70% at Rs135. The company has informed regarding receipt of the following Orders. 1.

Order for Ex-works Supply of Pre- Treatment Plant Package for Mauda Super Thermal Power Project (2X500 MW) for NTPC Limited in Noida, U.P for a value of Rs. 15.44 crores including taxes and duties.

The contractual period of completion of the order is 28 months. 2. Order for Supply and Installation of Water- Pre-Treatment Plant Package for Barh Super Thermal Power Project, Stage- II (2X660 MW) for NTPC Limited in Noida, U.P for a value of Rs. 31.44 crores including taxes and duties. The contractual period of completion of the order is 42 months.

On the global markets front, the European markets are now trading lower as the FTSE 100, DAX and CAC 40 index are trading down by (0.86%), (1.54%) and (1.17%) respectively.