Indian Market Today Extended Its Previous Two Days Gains - Feb 10, 2009

The Indian market today extended its previous two days gains on hopes of incentives from interim budget on February 16 to boost the growth along with President Barack Obama’s massive stimulus plan of USD 829 bn economic recovery package, which will be vote on the bill today. Though, during the second half of session, market slipped below the dotted line on some selling pressure led by negative opening of European markets and lower US index futures. Investors from all over the world were cautious after president’s Barak Obama’s administration delayed the announcement of financial recovery plan. Finally, buying by the foreign investors lifted the sentiments.

The domestic market today opened slightly higher on the back of mixed cues form the markets all over the world. The US stock market on Monday closed on flat note as investors continue awaiting Treasury''s bank rescue plan as the bank rescue plan got delayed by 1 day. Further market continued to trade higher with a bit of volatility till after noon trade on significant buying. However, benchmark indices slipped into negative before final trading as weak European markets fueled the sentiments. At the end, market concluded the day on positive note on hopes that an interim budget will contain fiscal incentives to boost the momentum of the economy. The government will unveil an interim railway budget on February 13, 2009 followed by a mini general budget on February 16, 2009. BSE Sensex ended above 9,600 mark and NSE Nifty closed above 2,900 level. On the sectoral front, Reality, Capital Goods, Bank, Pharma, Auto and Power stocks remained supportive during the trading session. Midcap and Smallcap stocks also followed the same trend. However, Metal, Consumer Durables and FMCG stocks were out of favour as witnesses most of the selling from these baskets.

Among the Sensex pack 17 stocks ended in green territory and 13 in red. The market breadth indicating the overall health of the market remained strong as 1387 stocks closed in green while 1080 stocks closed in red and 109 stocks remained unchanged in BSE.

The BSE Sensex closed higher by 63.58 points at 9,647.47 and NSE Nifty ended up by 14.6 points at 2,934.5. Broader market indices were strong as BSE Mid Caps and Small Caps ended with gains of 22.30 points and 9.81 points at 2,954.25 and 3,342.52 respectively. The BSE Sensex touched intraday high of 9,724.87 and intraday low of 9,510.50.

Gainers from the BSE Sensex pack are DLF Ltd (9.05%), BHEL (4.22%), L&T Ltd (3.40%), M&M Ltd (3.35%), RCom (3.16%), HDFC Bank (3.02%), Sun Pharma (2.53%) and Ranbaxy Lab (2.35%).

Losers from the BSE Sensex are Rel Infra (2.60%), Hindalco (1.96%), Tata Motors (1.84%), NTPC Ltd (1.50%) and ITC Ltd (1.42%).

On the global markets front, the Asian markets ended mixed as investors eyeing on the details of U.S. spending plans to revive the economy and lift its troubled financial industry. Shanghai Composite index, Hang Seng and Straits Times closed higher by 40.45, 111.58 and 20.95 points at 2,265.16, 13,880.64 and 1,703.29 respectively. However, Nikkei 225 and Seoul Composite index ended down by 23.09 and 3.82 points at 7,945.94 and 1,198.87 respectively.

European markets which opened after the Indian market are trading in red. In London FTSE 100 is trading lower by 62.23 points at 4,245.38 and in Frankfurt the DAX index is trading down by 86.84 points at 4,579.98.

The BSE Reality index ended higher by (6.58%) or 94.88 points at 1,536.13 advanced on hopes from the forthcoming interim budget. Main gainers are Unitech Ltd (9.45%), DLF Ltd (9.05%), Indiabull Real (6.22%), Anant Raj (5.00%) and Housing Development (4.63%).

The BSE Capital Goods index closed with gains of (3.14%) or 197.32 points at 6,484.30. Scrips that gained are Praj Indus (11.25%), BEML Ltd (5.78%), Gammon Indi (5.11%), BHEL (4.22%), Punj Lloyd (4.20%) and Aiaengineer (3.40%).

The BSE Bank index also ended higher by (1.16%) or 57.18 points at 4,972.69 on hopes that lower interest rates would accelerate lending growth. Gainers are HDFC Bank (3.02%), Kotak Bank (2.93%), Allahabad Bank (2.68%), IDBI Bank (2.27%) and Union Bank (2.22%).

The BSE Pharma index ended up by (1.14%) or 31.15 points to close at 2,756.31. Divi’s Lab (4.79%), Orchid Chem (4.50%), Sun Pharma (2.53%), Ranbaxy Lab (2.35%) and Lupin Ltd (2.30%) ended in positive territory.

The BSE Auto index advanced by (1%) or 24.96 points to close at 2,511.14 as India''s auto exports zoom at 63% in passenger car sales during April to January period of current financial year. M&M Ltd (3.35%), Maruti Suzuki (2.33%), Amtek Auto (1.81%), Bajaj Auto (1.45%), Exide Indus (1.24%) and Cromton Greaves (3.34%) ended in green.

The BSE Metal stocks under performed the benchmark indices as ended down by (1.43%) or 76.42 points at 5,251.46. Scrips that lost are Steel Authority (3.89%), Ispat Indus (2.84%), Hindustan Zinc (2.06%), Hindalco (1.96%) and Jindal Saw (1.78%).

Markets Open Sharply Lower Today - Jan 20, 2009

The markets open sharply lower today tracking weak cues from the Asian markets. All the sectorial indices are trading in red in the opening trade. The significant selling pressure witnessed among the Oil & Gas, Banking, Metal, Realty and Capital Goods stocks. The market also keep an eye on the Barrack Obama’s swearing in as the new President of the United States of America later Tuesday, which could probably provide some positive sentiment to global equities.

The BSE Mid Cap and the Small Cap are also trading lower with a cut of around 1% each.

The BSE Sensex is now trading below the 9,100 mark and the NSE Nifty trading below the 2,800 mark.

Asian markets are trading sharply lower taking their cue from Europe, on news that Royal Bank of Scotland expects to post $41 billion loss in 2008, largest in UK history. RBS said that loss would be largely on account of goodwill impairment charge of nearly $22-30 billion related to its acquisition of ABN Amro in 2007. This has made the RBS shares plunged nearly 65% to 11.6 pence. Further the UK government also increasing its stake in RBS to nearly 70% from 58%. This news has overshadowed the British government’s new stimulus plan to boost the nation''s financial industry.

The Asian Markets are trading significantly lower as Hang Seng, Shanghai Composite, Nikkei, Straits Times and Seoul Composite index are trading down by (3.33%), (1.36%), (2.92%), (2.44%) and (2.21%) respectively.

The US stock markets were closed on Monday on account of Martin Luther King Junior Day.

There are now no gainers among the BSE Sensex pack today. However, Bharti Airtel reported a top loser among the BSE Sensex pack down by (4.06%) at Rs. 620.70 followed by Reliance Communication slipped by (3.65%) at Rs. 178.20.

The overall market breadth is negative as 421 stocks are advancing while 822 stocks are declining on BSE.

At 10.33AM, the BSE Sensex was down by 281.38 points at 9,048.19 and the Nifty was down by 85.80 points to 2,760.40.

The BSE Mid Cap decreased by 34.50 points to 3,009.03 and the BSE Small Cap slipped by 20.83 points to 3,430.63.

BSE Bank index is trading lower by 130.20 points or (2.61%) to trade at 4,858.92. The top losers are HDFC Bank decreased by (3.28%) to Rs.909.15, ICICI Bank down by (2.72%) to Rs.401.80, AXIS Bank declined by (2.82%) to Rs.426 followed by SBI fell (2.57%) to Rs. 1,117.90.

BSE Realty index is trading lower by 43.65 points or (2.48%) to trade at 1,717.43. The major losers are Penland declined by (2.89%) to Rs. 21.85, Ansal Infra down by (2.44%) to Rs.26, DLF decreased by (2.25%) to Rs.190.75 followed by Sobha Developers fell by (2.15%) to Rs.84.

DLF is trading lower by (3.05%) at Rs.189.20. The company has announced expansion plans worth Rs 550 crores in Punjab with the launch of its first office-cum-retail venture “The Galleria, DLF Ludhiana.

Suzlon Energy declining by (3.22%) to Rs.52.65. The company has entered the Sri Lankan market with an order to supply 10 MW of wind turbine capacity to a project developed by Senok Wind Power.

Indian Market To Trade With Losses To Trade With Losses - Aug 13 , 2008

Weak cues from the US and the Asian markets have dragged the Indian market to trade with losses. Domestic market recovered from the day’s low but is still in negative territory. Investors are eyeing on SEBI meeting scheduled today to review the regulatory framework governing P-notes. Bank, Auto and Oil & Gas stocks are witnessing most of the selling from these baskets. The market breadth is positive as 1194 stocks are trading in green while 987stocks are trading in red.

At 11:31 AM the BSE Sensex is trading lower by 67.73 points at 15,144.40 and NSE Nifty is trading down by 17.50 points at 4,534.75. The BSE Mid Cap and BSE Small Cap are trading higher by 39.30 points and 33.61 points at 5,974.83 and 7,254.04 respectively.

Losers from the NSE are ICICI Bank Ltd trading lower by (2.98%) at Rs718.55 in line with HDFC Bank Ltd by (2.61%) at Rs1,232.00, Maruti Suzuki by (2.11%) at Rs664.75, DLF Ltd by (1.48%) at Rs558.70, HDFC by (1.41%) at Rs2,432.00, Siemens Ltd by (1.31%) at Rs562.40 and ONGC by (1.16%) at Rs1,075.65.

The BSE Bank index is trading lower by 85.23 points at 7,352.04 as ICICI Bank Ltd trading down by (2.63%) at Rs719.00 along with HDFC Bank Ltd by (2.22%) at Rs1,235.80, Canara Bank (1.43%) at Rs223.80, Bank of India (1.39%) at Rs287.10 and Bank of Baroda by (1.16%) at Rs281.10.

The BSE Auto index is trading down by 13.05 points at 3,986.65 as Maruti Suzuki trading lower by (2.06%) at Rs664.10 along with Amtek Auto by (2.07%) at Rs192.00, Bharat Forge (0.80%) at Rs267.70, Cummins India (0.63%) at Rs314.00 and Tata Motors by (0.23%) at Rs435.05.

The BSE Metal index is trading up by 131.94 points at 12,792.67 as Sterlite In trading higher by (2.59%) at Rs612.50 along with ISpat Indus by (2.19%) at Rs28.05, Nalco (2.03%) at Rs405.50, NMDC Ltd by (2.01%) at Rs367.20 and Jai Corp Ltd by (1.27%) at Rs399.05.

Sterlite Industries is trading up by (2.51%) at Rs612.05. The company got Supreme Court approval for the bauxite mining in Niyamgiri mines in Orissa. The bauxite mining project along with the Lanjigarh alumina refinery is expected to generate employment and economic livelihood for the local people and contribute to the overall development of the region.

INdian Market Opened In Positive Note - July 31, 2008

The market is trading volatile on continuous buying and selling. Indian Market opened in positive note but soon after start slipped into negative territory and further skipping up and down. Metal, Oil & Gas and Reality stocks are in favor while Bank, FMCG and Auto stocks are major sufferers of selling pressure. The market breadth is positive as 1209 stocks are trading in green while 915 stocks are trading in red.

At 11:32 AM the BSE Sensex is trading higher by 1.11 points at 14,288.33 and NSE Nifty is trading up by 21.34 points at 4,334.90. The BSE Mid Cap is trading higher by 33.68 points at 5,614.69 and BSE Small Cap is trading up by 28.93 points 6,956.54 respectively.

Gainers from the NSE are Cairn India trading higher by (4.68%) at Rs246.20 in line with Gail India by (4.11%) at Rs390.05, Suzlon Energy by (3.93%) at Rs227.25, Tata Steel by (3.63%) at Rs653.00, Siemens Ltd by (3.44%) at Rs542.00, Wipro Ltd by (3.35%) at Rs436.80 and SAIL by (3.28%) at Rs140.30.

Lossers from the NSE are ZEE Entertainment trading lower by (5.65%) at Rs193.05 in line with Tata Motors (5.18%) at Rs394.25, ITC Ltd by (4.35%) at Rs180.10, BPCL by (2.03%) at Rs322.95, HDFC Bank Ltd by (1.79%) at Rs1,074.50, Maruti Suzuki by (1.72%) at Rs577.75 and PNB by (1.60%) at Rs475.50.

The BSE Metal index is trading up by 274.14 points at 12,972.84. Scrips that are trading higher are NMDC Ltd (4.98%) at Rs329.60 followed by Tata Steel by (3.06%) at Rs649.30, Steel Authority by (2.90%) at Rs140.00, JSW SL by (2.34%) at Rs767.00 and Ispat Indus by (2.14%) at Rs26.25.

The BSE Bank index is trading lower by 74.84 points at 6,447.81 as Axis Bank trading down by (3.97%) at Rs652.60 along with PNB by (1.83%) at Rs458.00, Kotak Bank (1.71%) at Rs536.00, Bank of India by (1.67%) at Rs267.10 and HDFC Bank Ltd by (1.51%) at Rs1,076.00.

Wipro Ltd is trading higher by (3.77%) at Rs653.80. Wipro Infotech, the India and Middle East IT business of Wipro Ltd, bags a 10 year, Rs132.00 Crore contract from Lodha Group, which is a Mumbai based real estate player.

Tata Motors is trading down by (4.88%) at Rs396.00. The company reported a 30.13% drop in its net profit to Rs 26 Crore in the quarter ended June 2008, due to forex losses on its long-term loans and increase in the cost of raw materials.

Nifty Feb Trading At 23 pts Discount; Open Interest Up 3.81%

MUMBAI: Tracking global cues, the Indian market on Wednesday opened higher. The National Stock Exchange’s 50-share Nifty was higher by 2.55 per cent at 4961.50. However, the index future for February was at a discount. At 11:11 am, Nifty February futures was 4938.00, discount of 23 points to the spot index but up from the previous close of 4795.35. Thus far in trade, the near month contract has seen a high and low of 4964.00 and 4853.00, respectively. The number of contracts traded was 1,88,212 and turnover Rs 4631.37 crore. Open interest was up 3.81 per cent at 4,27,34,000.

Tuesday, foreign institutional investors were net buyers of Rs 679 crore in futures on NSE and net sellers of Rs 120 crore in options. Nifty February put-call ratio open interest decreased to 0.84 from 0.86 Monday. In stocks futures, the highest turnover was seen in Reliance Natural Resources February contracts (Rs 160.81 crore), Reliance Energy (Rs 142.58 crore) and Reliance Capital (Rs 115.97 crore) and Reliance Industries (Rs 111.55 crore).

Reliance Industries and JP Associates February futures have seen the highest number of contracts being traded in trade so far. Reliance Power February futures was trading close to the spot price of Rs 363.