Markets Are Facing A Lot Of Volatility - Jan 13, 2009

The markets are facing a lot of volatility today and are swinging between the positive and negative territory. The buyers today have showed their interest in the IT, Realty, FMCG, Capital Goods and Oil & stocks. However the Banking stocks are reeling under pressure today. The BSE Mid Cap And the Small Cap stocks are also trading higher.

The IT bellwether Infosys Technologies has revealed its December 2008 quarterly results that beat the expectations. The company today has declared a healthy performance in the October-December quarter, reporting 14.6% rise in net profit to Rs.1641 crore as against Rs.1432 crore in the previous quarter. The company''s consolidated net sales rose by 6.8% to Rs 5,786 crore versus Rs. 5,418 crore, (QoQ).

On the global markets front, the Asian markets are trading mixed as Straits Times and Seoul Composite index are trading higher by (0.64%) and (0.95%) respectively. However, Nikkei, Shanghai and Hang Seng are trading lower by (4.79%), (1.65%) and (0.74%) respectively.

The overall market breadth is positive as 1047 stocks are advancing while 1007 stocks are declining and the 89 stocks remain unchanged on BSE.

Infosys Technologies reported the top gainer from the BSE Sensex pack as it was trading higher by (6%) at Rs. 1,225.95 while Wipro the top loser down by (3.06%) at Rs.605.50.

The BSE Mid cap is higher by 13.82 points at 3,063.83 and the BSE small Cap advanced by 12.71 points to trade at 3,507.96.

At 12.35 pm, BSE Sensex was at 9,212.89 up by 102.84 points while the NSE Nifty was at 2,790.95 up by 17.85 points.

BSE Auto inclined by 7.41 points to 2,505.59. Leading to its gain are Hero Honda (2.33%), Ashok Leyland (1.34%), Bajaj Auto (1.47%) and Maruti Suzuki (1.09%).

BSE IT index increased by 75.52 points to trade at 2,126.57 as Infosys Technologies (7.01%), Wipro (3.28%), Mphasis (2.45%), HCL Technologies (1.80%) and TCS (1.85%) are trading in positive.

BSE Metal index advanced by 4.70 points to 4,916.05 as NMDC (4.19%), SAIL (3.98%), Sterlite Industries (1.65%), Hindalco Indusries (1.30%) and Jindal Saw (0.91%) are trading in green.

BSE Bankex index is trading lower by 57.45 points at 5,129.33. Losers are Kotak Bank (4.17%), Bank of India (3.61%), HDFC Bank (1.64%), AXIS Bank (1.45%), ICICI Bank (0.63%) and PNB (0.33%).

BSE Oil & Gas index is trading 15.16 points higher at 5,603.49 as BPCL (3.45%), HPCL (3.08%), Essar Oil (2.10%), Reliance Industries (1.71%) and Indian Oil (1.26%) are trading in positive.

BSE Capital goods index improved by 24.47 points to 6,461.12. The main gainers are BHEL (1.55%), L&T (1.76%), Praj Industries (0.80%), Punj Lloyd (0.74%) and Reliance Industrial Infra (1.49%).

BSE Power index is trading 5.06 points higher at 1,720.52. The main gainers are GVK Power (3%), Tata Power (3.79%), Torent Power (1.30%), Suzlon Energy (1.49%) and Reliance Power (1.16%).

BSE Realty index advanced by 40.19 points to 1,813.55. The major gainers are India Bull real (5.55%), HDIL (4.12%), Unitech (2.94%), Parsavnath (2.48%), Omaxe Ltd. (2.43%).

Bell Weather Infosys Technologies And Positive Cues - July 11, 2008

The market today opens higher on the back of better than expected results from the IT bell weather Infosys Technologies and positive cues from the global markets. But suddenly the market lost its momentum and slipped into the negative territory. The significant selling witnessed among the frontline indices mainly led by the IT, Bank, Auto and Oil & Gas stocks. However the Bse Mid Cap and BSE Small Cap stocks are trading marginally higher.

The overall market breadth is positive as 900 stocks are advancing whereas 756 stocks are declining on BSE.

Hindalco Industries reported the top gainer from the BSE Sensex pack, as it is trading with a gain of (2.77%) at Rs.157.90 while Satyam Computer the top loser down by (3.09%) at Rs.463.15.

At 10.30AM, the BSE Sensex was down by 93.94 points at 13,832.30 and the Nifty was up by 129.75 points to 4,157.15.

The BSE Mid Cap increased by 13.10 points to 5,488.30 and the BSE Small Cap advanced by 29.86 points to 6,839.10.

BSE IT index dropped by 105.02 points to trade at 4,084.38. The major losers are Satyam Computer, TCS, Infosys Technologies and Wipro fell by (3.09%), (2.47%), (1.22%) and (1.17%) to Rs.463.15, Rs.846.95, Rs.1783.30 and Rs.426.40 respectively.

BSE Bank index slipped by 71.29 points to trade at 6,093.96. The top losers are AXIX Bank decreased by (2.36%) to Rs.663, HDFC Bank down by (1.58%) to Rs.1038, ICIC Bank declined by (1.26%) to Rs609 followed by Bank of India down by (1.21%) to Rs.253.80.

Infosys Technologies is trading lower by (2.07%) at Rs. 1767.80. The company has posted a 21 percent rise in quarterly profit, beating forecasts, boosted by a weaker rupee. The company’s net income rose to Rs.13.02 billion for the three months ended June 30, from Rs.10.8 billion a year earlier.

HCL Technologies is trading higher by (0.72%) at Rs.251.35. The company has got a 3-year contract from Bergstrom Inc. Under the terms of the contract, HCL would provide engineering services for Bergstrom''s heating, ventilation and air conditioning products

Weekly Wrap: IT Stocks Have A Party; Sensex Jumps 674 Points

Infosys Technologies reported its fourth quarter results on Tuesday, the 15th March 2008. As the numbers, and more importantly, the earnings forecast, turned out to be better than what the market had expected, investors went on a buying spree that lasted the length of the shortened week.

With bellwether Infosys Technologies, its three peers in the Sensex and a few other blue chips surging along merrily on sustained buying interest, the market ended the week with sharp gains. Strong global markets, a marked rise in industrial output, fairly good numbers from a few top notch companies and a host of stock specific stories kept the bulls busy almost right through the three sessions that were available for trading during the week. A drop in inflation and forecast of a near normal monsoon also had a role keeping the market in the positive territory on Thursday afternoon.

While the Sensex ended the week at 16,481.20 with a gain of 673.56 points or 4.26%, the Nifty index of the National Stock Exchange settled at 4958.40, up 180.60 points or 3.77% over its previous week's closing mark.

Mirroring strong and sustained buying in information technology majors, the BSE IT index flared up by 13.43% last week. The BSE Teck moved up by over 9%. Among other sectoral indices, BSE Realty, which shot up by 6.16% was the star performer. The Consumer Durables index surged 5.39%. The Bankex advanced by 5%. The Oil & Gas, PSU, Metal and Healthcare barometers gained 3% - 5%. The Auto, Power and FMCG indices also moved up sharply while the Capital Goods index edged up by 0.94%.

Several stocks from midcap and smallcap segments too had a fine run in the positive territory last week. Reflecting investor interest for these stocks, the BSE Midcap and Smallcap indices ended stronger by 4.89% and 5.57% respectively.

Infosys Technologies, which hogged the limelight all through the week, ended with a hefty gain of 17.15%. Wipro climbed up 13% while Tata Consultancy Services and Satyam Computer Services gained 10.25% and 8.25% respectively.

Telecom stocks Reliance Communications and Bharti Airtel shot up by 7.35% and 2.4% respectively. Private sector bank majors ICICI Bank and HDFC Bank moved up by 5.95% and 5.7% respectively while the PSU heavyweight State Bank of India ended with a marginal gain. Metal stocks Hindalco (5.7%) and Tata Steel (3.35%) finished on a firm note.

Reliance Industries recorded a sharp gain of 3.45%. Power majors Reliance Energy and NTPC firmed up by 4.25% and 1.7% respectively. PSU oil & gas exploration major ONGC edged up by 1.6%. Pharma stocks Cipla (3.6%) and Ranbaxy Laboratories (8.2%) were in demand. Realty major DLF (8.5%) and housing finance stock HDFC (4.6%) rallied higher as well. Jaiprakash Associates finished with a gain of around 1.5%.

Mahindra & Mahindra, Maruti Suzuki and ITC closed with sharp gains. Grasim Industries recorded a marginal gain. Larsen & Toubro closed flat. ACC, Ambuja Cements, BHEL and Tata Motors ended on a negative note.

Orchid Chemicals & Pharmaceuticals posted strong gains on Tuesday and Wednesday. Hectic buying at the counter by Solrex Pharmaceuticals, an associate firm of Ranbaxy Laboratories, made investors scamper for the stock. However, the stock faced severe resistance on Thursday and ended with a sharp loss.

Bombay Dyeing, Chambal Fertilizers & Chemicals, Nagarjuna Fertilizers, i-Flex Solutions, HCL Infosys, HCL Technologies, Hinduja TMT and Neyveli Lignite Corporation were among the most impressive gainers in the truncated week.