Volatility Grips The Markets In The Present Day - May 25, 2009

The markets lost further grounds after witnessing a sharp volatile trade. The selling pressure witnessed among the frontline indices today. However the broader market indices have maintained their upward rally and were outperforming the benchmark index. Shares of Consumer durables, Realty, FMCG, Pharma and Metal socks were witnessing significant buying interest today. However, selective IT stocks are under pressure.

The BSE Mid Cap is now trading with a gain of more than 2% and the BSE Small Cap with a gain of more than 4%.

The BSE Sensex is now trading below the 13,900 mark and the NSE Nifty around the 4,200 mark.

The overall market breadth is positive as 2377 stocks are advancing while 343 stocks are declining in BSE.

Ranbaxy Laboratories reported the top gainer from the BSE Sensex pack, as it is trading up by (20.89%) at Rs. 267.05 while Bharti Airtel reported the top loser trading down by (7.45%) at Rs. 793.90.

BSE Sensex is at 13,879.47 down by 7.68 points and Nifty is at 4,217.95 down by 20.55 points.

The BSE Mid Cap is trading higher by 115.72 points at 4,871.40 and the BSE Small Cap increased by 240.78 points to 5,753.94.

The Realty index is trading with decent gains of 112.71 points or 3.40% at 3,423.50. Leading the rally are Parsvnath trading up by 8.91% at Rs88 along with Orbitco by 5.69% at Rs151.50, DLF by 5.49% at Rs352.30, Akruti City by 4.99% at Rs494.15, Unitech by 4.98% at Rs74.80, Anant Raj by 4.98% at Rs108.65, Omaxe by 3.78% at Rs93.25 and Ansal Infra by 3.74% at Rs55.50.

The Consumer Durables index is trading up by 84.46 points or 3.37% at 2,592.25. Gainers from this pack are Videocon Inds trading higher by 10.09% at Rs158.75 in line with Gitanjali GE by 9.67% at Rs108.30, Rajesh Exports by 5.96% at Rs40.90 and Titan Inds by 2.68% at Rs1051.10.

The most active shares on NSE are Unitech trading at Rs 75.20 with a total traded quantity of 50176102 shares followed by RNRL trading at Rs.81.55 with a total traded quantity of 47583776 shares.

Parsvnath Developers is trading up by 8.91% at Rs88. The company announced that its Board of Directors at its meeting held on May 23, 2009, has decided to raise funds by various means including through issuance of further securities to persons other than the existing equity Shareholders of the Company and also by way of Qualified Institutions Placement (QIP) to Qualified Institutional Buyers (QIBs) as provided under Chapter XIII A of the Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines, 2000 for an aggregate sum upto Rs 2500 Crores (Rupees Two Thousand Five Hundred Crores) and to seek the approval of the Shareholders for the said purpose.

Hindustan Dorr Oliver is trading higher by 5% at Rs72.50. The company has announced that it has bagged an order from National Aluminium Corporation Ltd valued at Rs 24.5 crores for their Phase II expansion project at Alumina Refinery, Damanjodi, Orissa.

On the global markets front, the European markets are trading lower as the DAX and CAC 40 index are trading down by (1.25%) and (0.89%) respectively.

Market Recovers Again Trading With Marginal Gains - May 22, 2009

The Indian stock market is trading with marginal gains due to selective buying by the investors from the capital goods as well as health care and bankex stocks. The market is swinging in the positive and negative territory since the initial bell as the profit booking takes a lead at the higher level. The Indian benchmark indices are struggling to maintain the momentum as the volatility grips the market.

The investors are taking calculated steps to book their positions tracking the weak Asian markets and broke down of the cabinet seat sharing talks between the Congress and DMK party. The bank of Japan today acknowledged that there are signs of improvement in the economy for the first time in almost three years.

More the unfavoring cues from the US markets also hurting the investors sentiments. The worse-than-expected jobless claims in US reiterated the fact that economic conditions of US is still worsening. Initial claims for the week ended May 16 inclined by 631,000 to pile up the continuing claims climbed to a new record of 6.66 million.

The Fed had yesterday pointed out the economic worry of US and sooner than later Standard & Poor has down graded the UK economy by lowering the rating of the government’s bonds on deep concerns of the net deficit which is expected to reach 100% of the GDP.

On the sectoral front, buying is seen from the Capital Goods as well as Health Care and Bankex index, which are trading with gains of more than 1% each. While the Auto, and Consumer Durables are trading with losses of more than 1% each.

The market breadth, indicating the overall strength of the market, was strong. On BSE, out of 2,661 stocks traded so far, 1,760 shares advanced while 846 shares declined. Nearly 55 shares are unchanged.

The BSE Sensex is trading higher by 86.35 points at 13,822.89 and NSE Nifty is trading up by 13 points at 4,223.90.

The BSE Mid Cap is trading up by 25.09 points at 4,698.96 and Small cap is trading higher by 95.38 points at 5,437.91.

Losers from the BSE Sensex Pack are ONGC trading lower by 4.25% to Rs. 1029 along with Sterlite Inds by 3.94% to Rs. 510, M&M by 3.52% to Rs. 630.20, ACC by 3.37% at Rs 718, Tata Motors by 3.06% at Rs346.50 and DLF by 2.54% at Rs333.25.

The BSE Consumer Durables index is trading lower by 48.31 points or 1.90% at 2,488.09. Stocks trading in on the backfoot are Titan Inds trading down by 3% at Rs 1,046.55 followed by Videoon Inds by 1.59% to Rs. 142.80 and Gitanjali GE by 0.26% at Rs 94.45.

The BSE Metal index is trading with deep cut of 159.10 points or 1.63% at 9,599.42. Losers from this pack are Sterlite Industries trading down by 3.96% at Rs. 509.90 along with Sesa Goa Ltd by 3.03% at Rs. 156.70, Nalco by 2.47% at Rs. 354, Hindalco Inds by 1.96% at Rs. 77.35 and SAIL by 1.27% at Rs. 155.80.

Ranbaxy Laboratories Ltd is trading lower by 0.47% at Rs222.60. Ranbaxy Labs has acquired trademarks, product dossiers and marketing rights from Ochoa Laboratories Ltd (Ochoa) for its entire range of Dermatological and Lidrstyle products.

The acquired brands command considerable equity with doctors and are market leaders in their respective categories. They complement Ranbaxy’s existing derma portfolio. The products enjoy high margins because of their novelty and brand appeal and will be initially marketed in India.

Market Is Showing Firm Trading - July 7,2008

The market is trading firm due to the sustained buying across the board. After opening on upbeat note market remains high in the positive territory now. Metal, Capital Goods, Bank and Reality Stocks are giving strong support to the market. Bank and Metal Indices advanced by more than 3%. Among the Sensex pack, 26 stocks are trading in green while 4 stocks are in red.

At 1.32PM, the BSE Sensex is trading higher by 270.42 points at 13,724.42 and NSE Nifty is up by 80.80 points at 4,096.80.

The BSE Mid Cap and Small Cap are trading higher by 127.42 points and 195.09 points at 5,405.66 and 6,644.77 respectively.

Gainers from the BSE are JP Associates up by (6.16%) at Rs162.75 followed by Reliance Infra by (5.88%) at Rs819.00, ACC Ltd by (5.07%) at Rs502.20, Maruti Suzuki by (4.80%) at Rs476.85, ITC Ltd by (4.16%) at Rs177.90, SBI (3.95%) at Rs1,172.00 and Bharti Airtel by (3.92%) at Rs744.35.

The Metal index is trading up by 399.75points at Rs12,437.39 as JSW SL is trading higher by (6.68%) at Rs802.50 along with Jindal Steel (5.68%) at Rs1,780.00, Isapt Industries (5.57%) at Rs21.80, Jindal Saw by (5.27%) at Rs501.00 and Steel Authority by (4.15%) at Rs133.10.

The Capital goods index is trading up by 230.14 points at Rs10,916.69 as Elecon Eng C is trading higher by (7.84%) at Rs93.50 along with Thermax Ltd by (6.36%) at Rs402.00, Areva (6.30%) at Rs1,508.95, Jyoti Struct C (5.62%) at Rs110.00 and Siemens Ltd (5.32%) at Rs450.30.

The Bank index is trading up by 194.90 points at Rs6,015.73 as Bank of India is trading higher by (5.56%) at Rs244.00 along with Kotak Bank Ltd (4.99%) at Rs472.60, SBI (3.94%) at Rs1,171.90, ICICI Bank ltd (3.87%) at Rs623.90 and Bank of Baroda (3.74%) at Rs216.30.

From the telecommunication sector, Bharti Airtel is trading higher by (4.32%) at Rs748.10 followed by Idea Cellular by (3.45%) at Rs91.50 and Tata Communications by (1.93%) at Rs372.20 while Reliance Communications is trading lower by (2.10%) at Rs4247.60.

In auto sector Maruti Suzuki is trading higher by (4.96%) at Rs576.00 along with Hero Honda Motors up by (2.61%) at Rs684.00 and M&M Ltd by (1.06%) at Rs480.15 while Tata Motors is down by (1.27%) at Rs395.15.

In cement sector ACC Ltd is trading up by (5.73%) at Rs504.70 along with Grasim Ind trading high by (3.04%) at Rs1,742.20 and Ambuja Cement by (2.41%) at Rs76.60.

Gail India is trading up by (5.73%) at Rs330.40. Gail India with Reliance industries is going to up a USD 1.3 billion mega petrochemical plant in the gas rich nation Quatar. They had signed a MoU to jointly set up a mega gas-based petrochemical plant.

Market Is Trading On The Back Foot

The market tumbles since the initial bell by tracking the unfavoring cues from the global markets like the surging crude oil prices above $123. This led the investors to take calculated steps in booking their positions. The market breadth is weak as 1537 stocks are trading in red while 710 stocks are trading in green.

At 11.29AM, BSE Sensex is trading lower by 242.78 points at 17,096.53 and NSE Nifty is trading down by 51.6 points at 5,083.90. The BSE Mid Cap and Small Cap are also trading lower by 59.74 points and 71.02 points at 7,141.83 and 8,656.15 respectively.

The IT index is trading lower by 160.22 points at 4,253.08. Pulling it are Satyam Computers trading lower by 4.39% at Rs467.80 along with Infosys by 3.81% at Rs1772.95, TCS by 3.78% at Rs929.70, Wipro by 3.64% at Rs481, NIIT by 2.46% at Rs107.20, Niit Techno by 1.84% at Rs143.75, Aptech by 1.43% at Rs245.50, HCL Techno by 1.21% at Rs289.85 and Finance Tech by 1.08% at Rs1769.90.

The Capital Goods index is trading down by 157.88 points at 13,483.74 as Jyoti structures trading lower by 3.05% at Rs157.50 followed by L&T by 2.23% at Rs2920, AIA Engineering by 2.16% at Rs1575, Kalpataru Power by 1.96% at Rs1048.95, Crompton Greaves by 1.47% at Rs248, Thermax by 1.47% at Rs490.50, KIR Oil Eng by 1.26% at Rs110.10, Punj Lloyd by 0.97% at Rs351, Siemens by 0.39% at Rs581.25 and SKF India by 0.29% at Rs294.

Losers from the BSE are Reliance industrial infrastructure trading down by 5% at Rs1465.90 in line with Satyam Comp by 4.38% at Rs465, Infosys by 3.92% at Rs1771, Indiabulls by 3.88% at Rs502, Mangalore Refineries by 3.85% at Rs98.70, TCS by 3.81% at Rs929.35 and GTL Infra by 3.78% at Rs52.25.

Tata Communication is trading up by (3.21%) at Rs504.3. The government is looking at the option of divesting its 26% stake in Tata Communication and going by the market price, the value of the stake of the government is over Rs3650 crore. The telecom commission is meeting today on New Delhi to discuss the divestment of the stake in the company.

Market Opens Marginally Higher.

The market today opens marginally higher and suddenly turned volatile within a few minutes of trading. The buying momentum is seen in the Realty, Capital Goods Auto and Pharma stocks. However, the Metal, Bank and Consumer Durables stocks are reeling under pressure in the opening trade. The broader market however outperformed the benchmark index in the opening trade.

The overall market breadth is positive as 1134 stocks are advancing whereas 653 stocks are declining on BSE.

At 10.30AM, the BSE Sensex was down by 33.78 points at 16,750.08 while the Nifty was marginally up by 2.20 points to 5,051.50.

The BSE Mid Cap increased by 57.78 points to 7,095.41 and the BSE Small Cap advanced by 21.16 points to 8,819.24.

DLF reported the top gainer from the BSE Sensex pack. It is trading with a gain of 2.23% at Rs.689.45 while Tata Steel reported the top loser down by 2.51% at Rs.761.30.

BSE Realty index surged by 240.29 points to trade at 8,146.43. The major gainers are India Bull Real, Ansal Infra, Omaxe Ltd. and Unitech grew by (5.56%), (4.18%), (3.35%) and (3.74%) to Rs.529.10, Rs.170.75, Rs.231.40 and Rs.291 respectively.

BSE Capital Goods index advanced by 150.58 points to trade at 14,079.29. The top gainers are Praj Industries inclined by (4.33%) to Rs.183, L&T increased by (1.61%) at Rs.2,967.55 followed by Bharat Electrical and BEML up by (1.41%) and (0.83%) to Rs.1,250 and Rs.1,105.

Ranbaxy Laboratories is trading higher by (0.30%) at Rs.489. The company has decided to enter into a business alliance with Chennai-based Orchid Chemicals & Pharmaceuticals Ltd, rather than mount a hostile takeover bid through an open offer by wholly-owned subsidiary Solrex Pharmaceuticals Ltd.