Thursday, July 30, 2009

Market Since Place To Corner Board Of The Increase - July 30, 2009

Market after a subdued opening, the key benchmark indices gusted northward tracking recovery in Asian stocks. Wholesale prices in India slide for the seventh consecutive week at -1.54% from a year earlier in the week to July 18. The index had fallen 1.17 per cent in the previous week. Volatility is expected to continue ahead of expiry of rolled over positions from July 2009 contract to August 2009 contracts in the Future & Options segment.

Rollover of Nifty contracts was about 60% by end of trading session yesterday. Rollover in Mini Nifty futures was about 43%.

On the sectoral front, out of 13 Indices, 11 indices advanced whereas 2 indices declined. Oil Exploration stocks slipped as crude futures tumbled around 6% overnight as US oil inventories unexpectedly rose, raising fresh concerns of weak demand.

The Market breadth, indicating the overall strength of the market, was strong. On BSE, out of 2,585 stocks traded so far, 1,447 shares advanced while 1,049 shares declined. Nearly 89 shares are unchanged.

The BSE Sensex is trading higher by 103.98 points at 15,277.44 whereas NSE Nifty is up by 21.60 points at 4,535.10.

The BSE Mid Cap is trading higher by 37.60 points at 5,514.70 and Small cap is trading up by 48.57 points at 6,203.33.

Major gainers from the BSE Sensex pack are TCS Limited surged 3.39% to Rs. 516.75 along with Hindustan Uniliver Limited 3.34% to Rs. 277.00, Housing Development Finance Co by 2.94% to Rs. 2,432.30, State Bank of India by 2.90% to Rs. 1,704.45, Wipro Limited by 2.00% to Rs. 476.05, Tata Steel Limited by 1.93% to Rs. 450.45, DLF Limited by 1.83% to Rs. 405.35, Reliance Infra by 1.62% to Rs. 1,183.00, NTPC by 1.50% to Rs. 217.00 and Tata Motors by 1.36% to Rs. 399.00 among others.

Major losers from the BSE Sensex Pack are Sun Pharmaceuticals Limited plunged 5.32% to Rs. 1,125.00, BHEL Limited by 1.49% to Rs. 2,205.00, ITC Limited by 1.29% to Rs. 234.20, Bhrati Airtel Limited by 1.25% to Rs. 418.00, Sterlite Industries Limited by 0.99% to Rs. 615.00, ACC Limited by 0.83% to Rs. 849.00, Reliance Communication Limited by 0.81% to Rs. 281.35, Hero Honda Motors Limited by 0.60% to Rs. 1,630.00 and Reliance Industries Limited by 0.48% to Rs. 1,917.00.

The BSE IT is higher by 81.88 points or 2.16% at 3,867.77. Stocks gained are Patni Computers Limited 14.39% to Rs. 333.10, Mphasis Limited 4.85% to Rs. 461.50, Oracle Fin 4.05% to Rs. 1,458.00, TCS Limited 3.39% to Rs. 516.75, Aptech Limited by 2.82% to Rs. 172.90, Rolta Ind Limited by 2.09% to Rs. 151.35 and Wipro Limited 2.00% to Rs. 476.05 among others.

Sun Pharmaceuticals Industries Limited slumped 5.32% to Rs. 1,125.00 after net profit declined sharply 56.7% to Rs 121.51 crore on a 39.5% decline in sales to Rs 405.88 crore in Q1 June 2009 as against Q1 June 2008

Shoppers'' Stop Limited gained 2.04% to Rs. 180.45, after it reported consolidated net profit of Rs. 1.01 crore in Q1 June 2009 as against net loss of Rs. 21.36 crore in Q1 June 2008.

Sesa Goa Limited weaken 3.03% to Rs. 231.85 after net profit declined significantly 36.9% to Rs. 406.94 crore on a 23.6% decline in sales to Rs. 941.27 crore in Q1 June 2009 as against Q1 June 2008.

Provogue India Limited spurted 4.99% to Rs. 51.50, after the company said its board will meet 14 August 2009 to consider buyback of its own shares.

Sobha Developers Limited slipped 1.21% to Rs. 216.35 after net profit declined phenomenally 74.9% to Rs 12.70 crore in Q1 June 2009 over Q1 June 2008.

Reliance Industries Limited waken 0.48% to Rs. 1,917.00 after Anil Ambani said he will approach the Supreme Court on Thursday, 30 July 2009, seeking a final hearing on the two-year-old gas supply dispute on 1 September 2009.

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