Market after gap up opening, the key benchmark indices traded choppy. Some support was seen from rise in Asian stocks whereas worries about agricultural production due to uncertainty prevailing in monsoon kept the market fragile. Moreover, the market is skeptical about rolled over positions from June 2009 series to July 2009.
Rollover in the Nifty futures was 29.19% as at end of Tuesday''s trade. The rollover was 34.47% in Mini Nifty futures.
Among individual stocks, rollover has been weak in Wipro, Ranbaxy Lab, GAIL India, Reliance Capital and Steel Authority of India.
On the sectoral front, out of 13 Indices, 9 were traded in green whereas 4 were in red. IT stocks mixed after the World Bank said the US economy will shrink 3% in 2009 and also due to fluctuation in currency prices.
FMCG stocks mixed on delay in India’s annual monsoon. Capital Goods stocks advanced on hopes the government may boost spending on the infrastructure sector including increase in power generation. Bank stocks slipped after American depository receipts (ADR) fell overnight.
The Market breadth, indicating the overall strength of the market, was strong. On BSE, out of 2,459 stocks traded so far, 1,535 shares advanced while 848 shares declined. Nearly 76 shares are unchanged.
The BSE Sensex is trading higher by 45.04 points at 14,369.06 whereas NSE Nifty is up by 23.25 points at 4,270.25.
The BSE Mid Cap is trading higher by 94.14 points at 5,036.49 and Small cap is trading up by 99.03 points at 5,691.44.
Major gainers from the BSE Sensex pack are Jaiprakash Associates Limited advanced 3.73% to Rs. 208.80 along with Reliance Infrastructure Limited 2.68% to Rs. 1,256.25, DLF Limited by 2.18% to Rs. 323.30, Hindalco Industries Limited improved 2.08% to Rs. 83.25, Grasim Industries Limited advanced 2.01% to Rs. 2,273.50, Sun Pharmaceuticals Limited jumped 1.87% to Rs. 1,305.00, TCS Limited 1.80% to Rs. 372.80, Reliance Communication Limited by 1.74% to Rs. 301.25 and Larsen & Toubro Limited gained 1.01% to Rs. 1,501.00 among others.
Losers from the BSE Sensex Pack are Sterlite Industries Limited plunged 2.46% to Rs. 563.00 along with ICICI Bank Limited plunged 1.85% to Rs. 684.55, Mahindra & Mahindra Limited plunged 1.83% to Rs. 691.00, Housing Development Finance Co plunged 1.72% to Rs. 2,315.00, HDFC Bank Limited 0.59% to Rs. 1,476.80, Infosys Technologies Limited by 0.52% to Rs. 1,737.00, NTPC Limited 0.43% to Rs. 195.00 and Reliance Industries Limited slipped 0.35% to Rs. 2,009.00 among others.
The BSE Realty is higher by 101.75 points or 3.17% at 3,111.35. Stocks trading in green are Akruti City Limited 5.00% to Rs. 494.85, Indiabulls Realty 4.86% to Rs. 203.90, Omaxe Limited 3.62%% to Rs. 97.25, Parsvanath by 2.84% to Rs. 81.50 and Ansal Infra 2.75% to Rs. 57.90 among others.
Reliance Industries Limited slipped 0.35% to Rs. 2,009.00 on reports it will incur a loss if it sells natural gas from its D6 block in the Krishna-Godavari basin at $2.34 per million British thermal unit.
IRB Infrastructure Developers advanced 4.08% to Rs. 154.20 after it emerged as the lowest bidder for a national highway project in Rajasthan estimated at Rs. 1,500 crore.
Flawless Diamond (India) Limited zoomed 4.93% to Rs. 35.10 after the company said its board will meet on 1 July 2009 to consider stock split.
Orient Abrasives Limited spurted 2.98% to Rs. 39.80 after net profit jumped 63.4% to Rs 31.84 crore in the year ended March 2009 over the year ended March 2008.
Sun TV Network Limited jumped 5.24% to Rs. 249.00 ahead of its year ended March 2009 results later today, 24 June 2009.
Hindalco Industries Limited improved 2.08% to Rs. 83.25 after the government has imposed a safeguard duty on aluminium products imported from China.
Great Offshore Limited advanced 1.11% to Rs. 418.20 after Bharati Shipyard''s chief said the company will top a counter bid by rival ABG Shipyard for a controlling stake in Great Offshore.
Aurobindo Pharma Limited gained 4.77% to Rs. 479.00 after the company secured nod from South Africa''s Medicines Control Council to manufacture and market five more products in that country.
Dr Reddy''s Laboratories Limited gained 1.27% to Rs. 753.10 after the company launched Bispec, a drug which is useful for the management of over active bladder, in the domestic market.
Rollover in the Nifty futures was 29.19% as at end of Tuesday''s trade. The rollover was 34.47% in Mini Nifty futures.
Among individual stocks, rollover has been weak in Wipro, Ranbaxy Lab, GAIL India, Reliance Capital and Steel Authority of India.
On the sectoral front, out of 13 Indices, 9 were traded in green whereas 4 were in red. IT stocks mixed after the World Bank said the US economy will shrink 3% in 2009 and also due to fluctuation in currency prices.
FMCG stocks mixed on delay in India’s annual monsoon. Capital Goods stocks advanced on hopes the government may boost spending on the infrastructure sector including increase in power generation. Bank stocks slipped after American depository receipts (ADR) fell overnight.
The Market breadth, indicating the overall strength of the market, was strong. On BSE, out of 2,459 stocks traded so far, 1,535 shares advanced while 848 shares declined. Nearly 76 shares are unchanged.
The BSE Sensex is trading higher by 45.04 points at 14,369.06 whereas NSE Nifty is up by 23.25 points at 4,270.25.
The BSE Mid Cap is trading higher by 94.14 points at 5,036.49 and Small cap is trading up by 99.03 points at 5,691.44.
Major gainers from the BSE Sensex pack are Jaiprakash Associates Limited advanced 3.73% to Rs. 208.80 along with Reliance Infrastructure Limited 2.68% to Rs. 1,256.25, DLF Limited by 2.18% to Rs. 323.30, Hindalco Industries Limited improved 2.08% to Rs. 83.25, Grasim Industries Limited advanced 2.01% to Rs. 2,273.50, Sun Pharmaceuticals Limited jumped 1.87% to Rs. 1,305.00, TCS Limited 1.80% to Rs. 372.80, Reliance Communication Limited by 1.74% to Rs. 301.25 and Larsen & Toubro Limited gained 1.01% to Rs. 1,501.00 among others.
Losers from the BSE Sensex Pack are Sterlite Industries Limited plunged 2.46% to Rs. 563.00 along with ICICI Bank Limited plunged 1.85% to Rs. 684.55, Mahindra & Mahindra Limited plunged 1.83% to Rs. 691.00, Housing Development Finance Co plunged 1.72% to Rs. 2,315.00, HDFC Bank Limited 0.59% to Rs. 1,476.80, Infosys Technologies Limited by 0.52% to Rs. 1,737.00, NTPC Limited 0.43% to Rs. 195.00 and Reliance Industries Limited slipped 0.35% to Rs. 2,009.00 among others.
The BSE Realty is higher by 101.75 points or 3.17% at 3,111.35. Stocks trading in green are Akruti City Limited 5.00% to Rs. 494.85, Indiabulls Realty 4.86% to Rs. 203.90, Omaxe Limited 3.62%% to Rs. 97.25, Parsvanath by 2.84% to Rs. 81.50 and Ansal Infra 2.75% to Rs. 57.90 among others.
Reliance Industries Limited slipped 0.35% to Rs. 2,009.00 on reports it will incur a loss if it sells natural gas from its D6 block in the Krishna-Godavari basin at $2.34 per million British thermal unit.
IRB Infrastructure Developers advanced 4.08% to Rs. 154.20 after it emerged as the lowest bidder for a national highway project in Rajasthan estimated at Rs. 1,500 crore.
Flawless Diamond (India) Limited zoomed 4.93% to Rs. 35.10 after the company said its board will meet on 1 July 2009 to consider stock split.
Orient Abrasives Limited spurted 2.98% to Rs. 39.80 after net profit jumped 63.4% to Rs 31.84 crore in the year ended March 2009 over the year ended March 2008.
Sun TV Network Limited jumped 5.24% to Rs. 249.00 ahead of its year ended March 2009 results later today, 24 June 2009.
Hindalco Industries Limited improved 2.08% to Rs. 83.25 after the government has imposed a safeguard duty on aluminium products imported from China.
Great Offshore Limited advanced 1.11% to Rs. 418.20 after Bharati Shipyard''s chief said the company will top a counter bid by rival ABG Shipyard for a controlling stake in Great Offshore.
Aurobindo Pharma Limited gained 4.77% to Rs. 479.00 after the company secured nod from South Africa''s Medicines Control Council to manufacture and market five more products in that country.
Dr Reddy''s Laboratories Limited gained 1.27% to Rs. 753.10 after the company launched Bispec, a drug which is useful for the management of over active bladder, in the domestic market.
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