Market Taking Place Proceeds Booking Mode - June 01, 2009

After a positive gap opening, the major Indian indices pared off its early gains and slipped from their day’s high. After an early rally the profit booking pressures have creep in across the broader level. On a positive note, Chinese manufacturing data boosted hopes of recovery of world economy.

On a domestic front, according to a survey manufacturing activity in India has expanded for a second straight month in May to its highest in eight months, which is also reflecting growth in domestic demand.

Besides, under a stock specific movement Bharti Shipyard is trading nearly trading nearly 10% up after making an open offer for acquisition of additional shares of Great Offshore of upto 20% of its total paid up share capital.

During the last trading hours, among the BSE sectoral indices, Realty, Metal and Power stocks registered a smart gain of 4.64%, 3.71% and 2.60% respectively, while the Bankex declined by 0.11%.

Overall the market breadth is positive as 2036 stocks are trading in green while 389 stocks are in red

The BSE Sensex is up by 100.65 points at 14,725.91 while NSE Nifty up by 46.94 points at 4,495.9. Besides, the BSE Mid Cap and Small Cap are trading higher by 93.46 points and 112.21 points at 5,150.2 and 6,099.04 respectively.

Gainers from the BSE Sensex Pack are Jaiprakash Associates surged by (7.59%) to Rs. 223.25, along with NTPC Limited by (5.73%) to Rs. 227.8, Tata Steel by (4.80%) at Rs. 425.8, Reliance Communication by (4.07%) at Rs. 318.25, Hindalco Industries by (3.90%) at Rs. 88 and Sterlite Industries by (3.53%) at Rs. 644.7.

Gainers from the NSE Nifty Pack are Suzlon Energy up by (7.35%) at Rs. 105.1 along with Unitech Limited by (6.41%) at Rs.84.7, Cairn India by (6.08%) at Rs. 245.95, NTPC Limited by (5.83%) at Rs. 227.95, Ambuja Cements by (5.35%) at Rs. 96.5 and Tata Steel by (4.87%) at Rs. 425.1.

BSE Realty is trading higher by (4.64%) or 177.12 points at 3,997.01. The top gainers in the index are Unitech Limited surged by (7.27%) to Rs. 85.55 along with Penland Limited by (6.07%) to Rs. 70.80, Orbit Co by (5.34%) to Rs. 177.50, Akruti City by (4.99%) to Rs. 518.40, followed by Anant Raj by (4.98%) at Rs. 133.80.

BSE Metal is trading higher by (3.71%) or 403.58 points at 11,282. The major gainers are Gujarat NRE up by (6.67%) at Rs. 45.60 along with Welsp Guj SR by (6.01%) at Rs. 179, Jai Corp by (5%) at Rs. 287.85 followed by Tata Steel by (4.8%) at Rs. 425.8.

Market Skeptical On US Plan To Heal Banking Industry: Sensex Below 9,600 Mark - Feb 11, 2009

The key benchmark indices extended loss after consecutive gains on the back of profit booking in some sectors and US government move to heal banking industry. The sentiment in the market is weak and investors are playing cautious on every move of news. However, the government will unveil an interim railway budget on February 13, 2009 followed by a mini general budget on February 16, 2009. It is also expected that the government will take measures to boost growth, especially in sectors where jobs are at stake.

Further, Infrastructure Leasing and Finance Company (IL&FS) is expected to acquire management control of the Maytas Infrastructure. This Non-banking Finance Company (NBFC) is erupting as one of government preference given its prominent role in infrastructure finance.

On the sectoral front, traders off-loaded position across sectors. Metal stocks plunged due to fluctuation in commodity prices at international levels and some amount of profit booking. Realty stocks fell due to liquidity crisis faced by corporate which may last much longer than expected. IT pivotal fell on weak sentiments of recovery.

The Market breadth, indicating the overall strength of the market, was weak. On BSE, out of 2,259 stocks traded so far, 990 shares advanced while 1,170 shares declined. Nearly 99 shares are unchanged.

At 1.30PM, the BSE Sensex is trading lower by 85.02 points at 9,562.45 and NSE Nifty is down by 21.34 points at 2,913.15.

The BSE Mid Cap is trading lower by 7.09 points at 2,947.16 and Small cap is trading down by 3.38 points at 3,339.14.

Gainers from the BSE Sensex pack are Maruti Suzuki by 2.43% to Rs. 623.00 along with Jaiprakash Associates advanced by 1.54% to Rs. 76.00, NTPC by 1.00% to Rs. 182.00 and ACC Ltd by 0.14% to Rs. 544.55.

Losers from the BSE Sensex Pack are Reliance Infra by 4.92% to Rs. 534.85 along with Tata Steel by 4.14% to Rs. 188.80, Grasim Industries by 2.64% to Rs. 1,380.10, DLF Ltd by 2.43% to Rs. 148.80, Reliance Industries by 2.33% to Rs. 1368.80, TCS Ltd by 2.17% to Rs. 512.65, Mahindra & Mahindra by 2.15% to Rs. 277.40, Tata Motors by 2.12% Rs. 135.90 and ONGC by 2.11% to Rs. 702.05.

The BSE Metal index is lower by 85.05 points or 1.62% at 5,166.41. Stocks trading in red are Tata Steel down by 3.96% to Rs. 189.15, JSW Steel by 3.40% to Rs. 1,039.50, JSW SL by 3.10% to Rs. 217.00, Sesa Goa Ltd by 2.67% to Rs. 96.65 among others.

Power Grid Corporation of India Ltd fell by 0.17% to Rs. 86.05 despite its plans to set up an overseas subsidiary. It is looking at entering Africa, Central and West Asia as well as India''s neighboring countries.

DLF Ltd plunged by 2.43% to Rs. 148.80 as it is reportedly expected to secure Rs. 2,000 crore of long term debt in two weeks from public sector banks and other financial institutions. The company has already secured Rs. 1,000 crore of long-term debt over the last few months.

Wockhardt Ltd fell by 1.92% to Rs. 94.75 despite it launched a new insulin, Glaritus, in India for the treatment of diabetes. Meanwhile, the promoters of Wockhardt have pledged stake with financial institutions such as IL&FS to raise fund.


Cairn India Ltd declined 3.06% to Rs. 161.70, as crude oil prices tumbled 5% in New York on Tuesday, 10 February 2009.

Jaiprakash Associates gained 1.54% to Rs. 76.00 on profit booking after the stock rose over 9% in the past three trading sessions.

Ranbaxy Laboratories fell 2.43% to Rs. 227.20 on reports it has US drug regulator''s nod to sell acute migraine drug sumatriptan in the US.

House of Pearl Fashions gained 3.63% to Rs. 47.15, after the company said its overseas unit is in the process of restructuring its business.

Reliance Power slipped by 0.97% to Rs. 102.20 after reports stated that the company may face delays in building its largest coal-fired plants as the credit crunch has seen its loan approvals held up.

Maytas Infra hit the upper circuit of 5% at Rs. 54.35, on reports IL&FS may acquire management control of the company.

Market is trading higher - Aug 11 , 2008

Market is trading higher after a positive opening led by cooling oil prices, which eases the inflation worries. NSE Nifty is trading around 4,600 level and BSE Sensex is above 15,400 mark. BSE Midcaps and Smallcaps are trading with gains of more than 1.5% and 1% respectively. On the higher side Bank, Oil & Gas, Capital Goods, Reality and Auto stocks are supporting the market the market with huge buying from these baskets. Among the Sensex pack, 25 stocks are trading in green while 5 are in red.

At 1.30PM, the BSE Sensex is trading higher by 268.31 points at 15,436.13 and NSE Nifty is up by 68.19 points at 4,597.70.

The BSE Mid Cap is trading higher by 94.89 points at 5,981.86 along with Small Cap up by 102.79 points at 7,283.30.

Gainers from the BSE are JP Associates trading up by (7.08%) at Rs196.50 in line with ICICI Bank Ltd by (4.61%) at Rs762.50, Reliance infra by (3.77%) at Rs1,070.50, HDFC Bank Ltd by (3.66%) at Rs1,327.00, Maruti Suzuki by (3.58%) at Rs704.00 and SBI by (3.57%) at Rs1,576.20.

The BSE Bank index is trading higher by 300.19 points at 7,698.22 as Kotak Bank trading up by (4.86%) at Rs670.00 along with ICICI Bank Ltd by (4.64%) at Rs762.75, Bank of India (4.42%) at Rs303.55, Axis Bank (3.97%) at Rs764.00 and Bank of Baroda by (3.97%) at Rs397.15.

The BSE Oil & Gas index is trading up by 265.39 points at 10,404.49. Scrips that are trading higher are Gail India (3.37%) at Rs420.80 followed by Reliance by (3.22%) at Rs2,323.00, IOC by (2.85%) at Rs444.30, HPCL by (2.33%) at Rs235.20 and ONGC by (2.16%) at Rs1,086.95.

The BSE Capital Goods index is trading up by 229.74 points at 12,795.62 as Gammon Indi trading higher by (6.74%) at Rs229.55 along with Elecon Eng C (5.50%) at Rs124.70, Jyoti Struct by (5.24%) at Rs142.65, Aiaengineer (5.12%) at Rs1,540.00 and BEML Ltd by (4.81%) at Rs762.25.

From the telecommunication sector, Reliance Com Ltd is higher by (3.14%) at Rs452.80 along with Tata Communications trading up by (1.12%) at Rs455.00, Idea Cellular by (0.44%) at Rs90.40 and Bharti Airtel by (0.43%) at Rs844.50.

In auto sector Maruti Suzuki is trading higher by (3.31%) at Rs701.85 followed by Tata Motors up by (1.99%) at Rs449.45, M&M Ltd by (1.10%) at Rs582.10 and Hero Honda Motors higher by (0.93%) at Rs829.35.

In cement sector Ambuja Cement is trading up by (1.61%) at Rs88.40, Grasim Indus is higher by (1.44%) at Rs2,067.10 and ACC Ltd is up by (1.22%) at Rs637.05.

Sensex pares gains along with Satyam, Wipro - July 18, 2008

The benchmark indices Sensex and Nifty have shed most of their morning gains due to heavy selling in IT majors and strong resistance encountered by a few old economy blue chip stocks at higher levels

While the Sensex, which rose to a high of 13,274.72 earlier this morning, is up with a gain of 0.31% or 40.67 points at 13,152.24, the Nifty, which has eased to 3950.60 from a high of 3991, is up just marginally (by 3.40 points) over its previous closing mark.

Satyam Computer Services Limited has posted a profit after taxation of Rs 5759.10 million for the quarter ended June 30, 2008 as compared to Rs 3891.40 million for the quarter ended June 30, 2007. Total Income has increased from Rs 18209.30 million for the quarter ended June 30, 2007 to Rs 25565.20 million for the quarter ended June 30, 2008.

The Group has posted a consolidated profit after taxation & minority interest of Rs 5477.00 million (as per Indian GAAP) for the quarter ended June 30, 2008 as compared to Rs 3783.20 million for the quarter ended June 30, 2007. Total Income has increased from Rs 18933.90 million for the quarter ended June 30, 2007 to Rs 26539.50 million for the quarter ended June 30, 2008.

The Satyam Computer Services stock has taken a severe beating this morning. The stock, which opened at Rs 422 and edged higher to Rs 429.85 in early trade, crashed to Rs 380.70 subsequently on selling pressure. At present, the stock is down with a loss of 7.35% at Rs 383.50.

Wipro Limited has posted a net profit of Rs 5460 million for the quarter ended June 30, 2008 where as the same was at Rs 6714 million for the quarter ended June 30, 2007. Total Income is Rs 48074 million for the quarter ended June 30, 2008 where as the same was at Rs 37768 million for the quarter ended June 30, 2007. Wipro has lost 5.8% at Rs 379.80.

Other IT majors in the Sensex, Infosys Technologies and Tata Consultancy Services, are also down in the red with sharp losses. While the former is down with a loss of 4.15% at Rs 1517, the latter has slipped by 3.65% to Rs 750.60.

Tata Steel (down 3.9%), ACC (down 2.15%) and Hindalco (down 1.1%) are the other major losers in the Sensex.

Ambuja Cements, Larsen & Toubro, Reliance Communications, Hindustan Unilever and Reliance Industries have lost 0.4% - 1%. Bharti Airtel is down with a small loss at Rs 748.35.

ICICI Bank rules firm with a sharp gain of 5.5%. HDFC is up by a little over 4.5%. HDFC Bank trades firm around Rs 1000 (up 4.2%).

Reliance Infrastructure, BHEL, State Bank of India, Jaiprakash Associates, DLF, ITC, ONGC and Tata Motors are up by 1% - 2.5%. NTPC, Mahindra & Mahindra and Grasim Industries also trade firm. Bharti Airtel and Maruti Suzuki are up marginally over their previous closing levels.

Indian Bank, Essar Shipping, Gujarat Petronet, Ansal Infrastructure, Nagarjuna Construction Company, Axis Bank, Yes Bank, Hindustan Construction Company, IDFC, Nagarjuna Fertilizers & Chemicals, GE Shipping, Adani Enterprises, HDIL, IndusInd Bank, Rolta India, Kotak Bank and Punjab National Bank have gained 3% - 7% today on strong buying support.

Biocon, Tata Chemicals, Sterlite Industries, Tech Mahindra, HCL Technologies, Cairn India, United Spirits, Educomp Solutions, Sesa Goa, Hindustan Zinc, i-Flex Solutions, Bajaj Hindustan and Piramal Healthcare are among the prominent losers from BSE 'A' Group.

Sensex stays in cautious mood - July 18, 2008

With several blue chip stocks struggling to find support at higher levels, the market has pared a significant portion of its morning gains now.

Though global markets have rallied and crude oil prices have drifted down sharply from historic highs, political concerns appear to be weighing down the sentiment to a significant extent now.

The Sensex, which rose to a high of 13,274.72 this morning, is up with a modest gain of 61.06 points or 0.47% at 13,172.91 at present. At 3954.80, the Nifty is up by 0.19% or 7.60 points over its previous closing mark.

Bank and realty stocks remain firm with most of their gains intact. Select PSU and power stocks are also seen holding on to their gains.

Auto and pharma stocks display a mixed trend. FMCG, capital goods and oil stocks have turned subdued. Metal and information technology stocks have declined sharply on selling pressure.

Due to heavy selling at higher levels, a number of midcap and smallcap stocks too have given up their gains now.

The market breadth remains a bit positive. Out of 2135 stocks traded on BSE now, 1153 stocks are up with gains. 908 stocks have posted losses and 74 stocks trade flat.

HDFC, which tops the list of Sensex gainers now, is up by nearly 6.5% at Rs 2011. HDFC Bank rules firm with a sharp gain of 6.25%. ICICI Bank is up by 5.6% at Rs 582.

Cipla, Reliance Infrastructure, BHEL, DLF, State Bank of India, NTPC, ONGC, Tata Motors and Jaiprakash Associates are up by 1% - 3%. ITC, Grasim Industries and Mahindra & Mahindra are up with modest gains while Maruti Suzuki trades flat.

Essar Shipping tops the list of gainers in the Midcap index. The stock remains firmly locked at the 10% upper circuit at Rs 105.65. Yes Bank has recorded a gain of 6.7%. Gujarat Petronet is up by over 6%.

Ansal Infrastructure, Ballarpur Industries, BF Utilities, Shriram City, Patel Engineering, BGR Energy and Gujarat Gas are up by 4% - 6%.

Asian Hotels, Gujarat Fluorochemicals, FSL, Nagarjuna Construction Company, EID Parry, Nagarjuna Fertilizers & Chemicals, HT Media, Emami, Sobha Developers and Rolta India are among the other prominent gainers in the midcap space.

Sensex moves up further; Reliance Infra, HDFC among top gainers - July 16,2008

Capital goods, bank, oil, power, realty and metal stocks have posted smart gains on the major Indian bourses where trading got off to a rousing start this morning. Pharma major Ranbaxy Laboratories has bounced back strongly after recent losses. The statement from the company's chief executive that the deal with Daiichi Sankyo is very much on track has buoyed up the stock this morning.

The Sensex, which opened with a positive gap of nearly 75 points at 12,740.78 and vaulted to 12,935.25 this morning, is up with a handsome gain of 228.92 points or 1.81% at 12,905.11 now. At 3911.50, a few points down from a high of 3920.05 it touched a few minutes back, the Nifty is up 50.40 points or 1.31% over its previous closing mark.

At Rs 439.10, Ranbaxy Laboratories is up with a big gain of 7.3%. Reliance Infrastructure, HDFC, Jaiprakash Associates and Satyam Computer Services are up by 3% - 4%.

Bharti Airtel, BHEL, Hindalco, Larsen & Toubro, Tata Steel, HDFC Bank, Reliance Industries, ICICI Bank, Reliance Communications, State Bank of India, ITC, DLF, Cipla, Wipro and Infosys Technologies have gained 1% - 3%.

BPCL, Godrej Industries, Essar Shipping, Chambal Fertilizers & Chemicals, Adani Enterprises, United Spirits, Bombay Dyeing, Reliance Capital, Alstom Projects, ABG Shipyard, Lanco Infratech, Triveni Engineering and Hindustan Petroleum Corporation have moved up by 3% - 5%.

Mkts: Zee Entertainment sparkles - June 18, 2008

The benchmark indices Sensex and Nifty, which slipped into the red after opening higher, emerged into the positive territory again thanks to resumption of buying in a few blue chip stocks. However, due to lack of support at higher levels, the indices have drifted down into the negative zone once again.

At 15,665.24, the Sensex is down with a loss of 34.29 points or 0.22% at present. The Nifty is up with a small gain of 2.15 points at 4655.15.

Zee Entertainment has rallied smartly to Rs 248.75, recording a handsome gain of 6.2%. Ranbaxy Laboratories is up by around 4.25% at Rs 606.40. Suzlon Energy has notched up nearly 4% at Rs 254.

Ambuja Cements, ACC and Grasim Industries, the cement pivotals, have gained 3.95%, 3.35% and 2.85% respectively.

Reliance Communications, HDFC, DLF, Reliance Infrastructure, NTPC, Tata Power, Idea Cellular, Power Grid, Hindalco, SAIL, BPCL, Unitech, Sterlite Industries and Tata Communications have also posted strong gains.

HDFC Bank, Sun Pharmaceuticals, HCL Technologies, ICICI Bank, Hero Honda, Wipro, State Bank of India Tata Consultancy Services, ONGC, Hindustan Unilever, Satyam Computer Services, Infosys Technologies, Dr. Reddy's Laboratories, Bharti Airtel and Larsen & Toubro are down with sharp to moderate losses.

Mkts: ICICI Bank, Infosys Rally; Sensex Up Nearly 325 Pts @ 10:55 Hrs - June 16, 2008

The market, which opened on a rousing note this morning, has gained further ground in the positive territory now thanks to sustained buying across the board.

The Sensex, which zoomed to 15,553.37 this morning, is up with a sparkling gain of 323.61 points or 2.13% at 15,513.23 at present. At 4607.65, a few points down from a high of 4616.40 it had touched earlier this morning, the Nifty is up 2% or 90.55 points over its previous closing mark.

Bank, realty, information technology, metal and power stocks have risen sharply. There are impressive gains for several stocks from capital goods, oil and pharma sectors as well. Auto and FMCG stocks also rule firm, albeit with less pronounced gains.

Besides several large cap stocks, a number of stocks from midcap and smallcap segments too have moved up sharply. Mirroring the sharp surge in prices of stocks from these segments, the BSE Midcap and Smallcap indices have advanced by around 1.75% now.

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So positive is the mood that only Tata Motors (down 0.2%) and Hindalco (down marginally), among the Sensex components are down in the negative territory at present. Among Nifty stocks, Cairn India (down 2.05%) and Hero Honda (down 0.15%) have posted losses.

HDFC, the most prominent gainer in the Sensex, is up by around 4.8% at Rs 2235. ICICI Bank and Infosys Technologies are up by nearly 3.5% at present. Bharti Airtel has gained 3.7%. ONGC is up by a little over 3%.

Satyam Computer Services, Jaiprakash Associates, NTPC and BHEL are up by 2% - 2.5%. ACC, Ambuja Cements, Grasim Industries, Cipla, Larsen & Toubro, Ranbaxy Laboratories, Reliance Industries, State Bank of India, Tata Steel, Wipro and Tata Consultancy Services have also posted strong gains.

Power Grid has gained nearly 4.5%. Siemens is up by around 4.25%. Unitech has gained close to 4%. GAIL India, Tata Communications, Sterlite Industries, HCL Technologies, Punjab National Bank, Zee Entertainment, Tata Power, SAIL, Sun Pharmaceuticals, Suzlon Energy and Reliance Petroleum have recorded impressive gains.

Market Opens Flat; Asian Cues Weigh - June 13, 2008

MUMBAI: Indices opened slightly higher on Friday led by technology shares, but slipped into the red within a few minutes. Weak cues from other Asian markets soured sentiment market participants said, adding that inflation data expected around noon will keep traders cautious.

At 10:05 am, the Bombay Stock Exchange’s Sensex was up 21 points at 15,271.27. The index touched a high of 15,337.10 and low of 15,207.73 in early trade.

Major index gainers were Ranbaxy Laboratories (up 2.67%), ICICI Bank (2.61%), Tata Motors (1.51%), Tata Consultancy Services (1.29%) and Satyam Computer (0.87%)

Major index losers were Bharti Airtel (down 1.02%), DLF (0.9%), ONGC (0.87%), Hindustan Unilever (0.84%) and BHEL (0.72%)

Equity funds see strong inflows in May

The National Stock Exchange’s Nifty was down 1 point at 4538.75. The index touched a high of 4563.35 and low of 4517.40 in trade so far.

“Looking at the last 2-3 sessions, the market seems to have formed a short term bottom. Bu the rally can only extend till 4700-4750 in Nifty,” said DD Sharma, senior vice president, AnandRathi.

The rupee was trading around 42.84 to the dollar, from the previous close of 42.83, while crude oil prices dipped slightly to $136.75 a barrel.

India's annual inflation rate is expected to have held above 8 per cent at the end of May.

The mood was somber elsewhere in Asia as investors worried about the credit-market turmoil, slowing global growth and rising inflation in the region. The Nikkei 225 was down 0.26 per cent, the Hang Seng fell 0.84 per cent and the Straits Times lost 0.47 per cent.

US stocks finished higher on Thursday as investors turned optimistic after data showed an uptick in May retail sales. The Dow Jones Industrial Average was up 0.48 per cent, the Standard & Poor's 500 Index gained 0.33 per cent and the Nasdaq Composite Index rose 0.43 per cent.

Mkts: Blue Chips Rebound, Lift Sensex Up By 200 Pts - June 11, 2008

Trading got off to a positive start on the major Indian bourses this morning with pharma, realty, power, capital goods, metal and information technology stocks surging higher in early trade. Though Wall Street ended on a subdued note and Asian markets remain mixed, a few front line stocks from various sectors have moved up sharply on bargain hunting in opening trade.

Mirroring the buoyant start, the Sensex vaulted to 15,115.69 after opening with a positive gap of over 125 points at 15,018.68. At present, the barometer is up with a handsome gain of 199.04 points or 1.34% at 15,088.29. The Nifty, which shot up to a high of 4516.95 in opening trade, is up by 1.16% or 51.65 points at 4501.45.

Ranbaxy Laboratories, which has been moving up sharply of late, has scored a gain of 3.65% this morning. BHEL, Jaiprakash Associates, Reliance Infrastructure, Ambuja Cements, Maruti Suzuki and ONGC have gained 2% - 3.5%.

ACC, Cipla, DLF, Hindalco, HDFC, ICICI Bank, Infosys Technologies, Larsen & Toubro, Mahindra & Mahindra, Reliance Communications, Reliance Industries, Satyam Computer Services, State Bank of India, Tata Motors, Tata Steel, Wipro and Tata Consultancy Services have also risen sharply. Bharti Airtel and Grasim Industries have chipped in with notable gains.

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Hindustan Unilever and ITC have declined sharply in early trade and lost 1.45% and 1.75% respectively in the process. HDFC Bank hovers around its previous closing price.

HCL Technologies, Unitech, Suzlon Energy, SAIL, Dr. Reddy's Laboratories, BPCL, Nalco, Idea Cellular, Power Grid, Sterlite Industries, Reliance Petroleum, Tata Power, GAIL India, Punjab National Bank, Hero Honda and Siemens are among the prominent gainers in the Nifty index. Cairn India and ABB have posted sharp losses.

Mkts: Bears Remain Relentless; Sensex Tanks 565 Pts @ 10:49 Hrs - June 9, 2008

The bears, who reigned supreme and plundered down stocks last week, are proving quite relentless this morning with the stunning rise in crude oil prices and the resultant meltdown in global markets aiding their cause.

The Sensex has now tumbled to 15,006.84, recording a huge loss of 565.24 points or 3.63%. The Nifty is down with a loss of 3.62% or 167.65 points at 4460.15.

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So widespread is the selling that not a single sector has been spared the stick this morning. The BSE Indices Chart presents a dismal picture with all the sectoral indices going down sharply.

Jaiprakash Associates (down 7.25%) is the biggest loser in the Sensex. Reliance Infrastructure has slipped by 6.3%. HDFC is down with a loss of 5.85%. DLF, Ambuja Cements, ONGC, Tata Motors and BHEL have lost 5% - 5.75%.

Bharti Airtel, HDFC Bank, ACC, Wipro, State Bank of India, Mahindra & Mahindra, Reliance Communications, Tata Steel, Larsen & Toubro, Infosys Technologies, Hindalco, Grasim Industries, Cipla and NTPC have also recorded sharp losses.

BPCL has slipped by as much as 7.8%. Unitech has lost 7.45%. Siemens, Punjab National Bank, Tata Power, Power Grid, Suzlon Energy, Sterlite Industries, Tata Communications, SAIL, Idea Cellular, Reliance Petroleum, Nalco, ABB and Hero Honda have also declined sharply.

Sensex Slips Below 17k In Early Trade

MUMBAI: Stocks opened lower on Friday in line with the trend in other Asian markets. Selling pressure in technology and banking majors saw the benchmark sensitive index slip below the psychological 17000 mark in early trade. Apprehension of higher inflation, the data for which is expected around noon, will keep the market in check, analysts said.

At 10:05 am, the Bombay Stock Exchange's Sensex was down 70 points or 0.41 per cent at 17,011.01. The index touched a low of 16,974.62 after opening at 17,020.79.

Biggest Sensex losers were Wipro (down 1.48%), Reliance Energy (1.36%), ICICI Bank (1.27%), Tata Motors (1.06%), Satyam Computer (1.06%) and Infosys Technologies (1.03%).

Bharti Airtel (down 1.08%), DLF (0.03%) and Reliance Communications (0.02%) were the only index gainers.

Market breadth on BSE showed 463 declines against 310 advances.

The National Stock Exchange's Nifty was down 15 points or 0.3 per cent at 5066.60. The index touched a high of 5073.15 and low of 5039.65 in trade so far.

"There may not be any respite for our market this morning inspite of the rise on US indices. The Nifty must keep its head above the 4980 mark to allow the bulls to remain in the reckoning. A close below the 4980 mark is likely to send the market into a tail spin as all the puts that have been written on the 5000 strike price will scamper for cover," Anagram Stock Broking said in a note.

Elsewhere in Asia, stocks were struggling with a stronger yen and a bearish forecast from Toyota Motor as a result of rising raw material costs. The Nikkei 225 was down 1.55 per cent, the Hang Seng fell 1.81 per cent and the Straits Times dipped 0.63 per cent.

US stocks managed to finish higher Thursday, though factors like higher gasoline prices erased some gains. Data showed April retail sales showing consumers still spending, but far more frugally. The Dow Jones Industrial Average added 0.41 per cent, Standards & Poor's 500 Index rose 0.37 per cent and the Nasdaq Composite Index gained 0.52 per cent.

Mkts Shed Some Gains @ 10:44 Hrs

PSU, realty, auto, capital goods and power stocks have moved up sharply this morning. There are smart gains for select oil, FMCG, metal, pharma and bank stocks as well. Consumer durables and information technology stocks have drifted lower due to lack of support.

The Sensex, which shot up to a high of 17,480.74 earlier in the day, has drifted down to 17,412.21 now, but remains in the positive territory with a marginal gain of 33.75 points or 0.19%. At 5210.60, around 20 points down from a high of 25230.75 it had touched earlier this morning, the Nifty is up 0.29% or 15.10 points over its previous closing mark.

Besides a number of large cap stocks, several midcap and smallcap stocks have also risen sharply on strong buying enquiries this morning. Thanks to widespread buying, the market breadth remains pretty strong at present.

MMTC, the biggest gainer in the PSU index, is up by 5% at Rs 29,845.85. NMDC has notched up a gain of 3.5%. Rural Electrification Corporation, Reliance Communications, Idea Cellular, Tata Motors and Mahindra & Mahindra have gained 2% - 2.5% on sustained buying support. Maruti Suzuki, Unitech, SAIL, Suzlon Energy, NTPC, Tata Power, Reliance Petroleum, GAIL India, DLF and BPCL have also moved up sharply.

Siemens, Larsen & Toubro, Bharti Airtel, Dr. Reddy's Laboratories, Zee Entertainment, ITC, Cipla, Sun Pharmaceuticals, Power Grid, Cairn India, BHEL, State Bank of India and ABB have posted modest gains.

Realty stock Mahindra Lifespace has vaulted more than 10% to Rs 542. Puravankara Projects has gained 6.15% at Rs 286. Ansal Infrastructure has gained 5.4%. Sobha Developers (3.65%), Akruti City (2.7%), HDIL (2.55%), Omaxe (2.4%), Unitech (2.4%), Parsvnath Developers (1.45%) and Penland (01%) have also risen sharply. India Bulls Real Estate is up with a modest gain of 0.65%.

Tata Steel Spurts

With the Reserve Bank of India set to announce its credit policy around noon, It is a cautious start for equities on the major Indian bourses this morning. Select metal, oil and power stocks have edged higher in early trade. Bank, auto and information technology stocks display a mixed trend.

The Sensex, which opened at 17,050.87, around 35 points higher than its previous closing mark, eased a bit in early trade, but has rallied to 17,112.88 in subsequent trade, netting a sharp gain of 96.92 points or 0.57%. The Nifty has gained 0.46% or 23.50 points at 5113.15.

Tata Steel has moved up by 3.4% to Rs 804 and is the biggest gainer in the Sensex at present. Hindalco has gained more than a per cent at Rs 188.20. Wipro (1.2%), Jaiprakash Associates (1.6%), ACC (1.2%) and ONGC (1%) are the other major gainers.

Ambuja Cements, DLF, Grasim Industries, HDFC, Larsen & Toubro, Mahindra & Mahindra, Maruti Suzuki, NTPC, Reliance Energy, State Bank of India and Tata Motors have posted notable gains.

TCS, Satyam Computer Services, Reliance Communications, Reliance Industries, ICICI Bank, Infosys Technologies, Ranbaxy Laboratories and BHEL trade flat. Bharti Airtel, HDFC Bank and Hindustan Unilever are down with sharp losses.

Siemens, Sun Pharmaceuticals, Power Grid, Nalco, GAIL India, Tata Power, Dr. Reddy's Laboratories, HCL Technologies, SAIL, Sterlite Industries and Tata Communications are among the prominent gainers in the Nifty. Suzlon Energy, ABB, Unitech and Idea Cellular have posted sharp losses.

Mkts: Spice Tele, RIIL Spurt @ 10:50 Hrs

Due to strong resistance at higher levels, a few blue chip stocks have surrendered a good portion of their early gains now. And the Sensex, which had spurted to a high of 16,844.02 in opening trades, has now eased to 16,768.30 (up 70.26% or 0.42%). At 5039, the Nifty is up 0.32% or 16.20 points over of its previous closing mark.

Unitech, Tata Power, Nalco, HDFC, Bharti Airtel, Hero Honda, Satyam Computer Services, GAIL India, Wipro, Jaiprakash Associates, SAIL, Siemens and Ranbaxy Laboratories are up by 1% - 2% over their previous closing levels.

Mahindra & Mahindra, Zee Entertainment, Cairn India, DLF, Dr. Reddy's Laboratories, Larsen & Toubro, Cipla, Idea Cellular, Grasim Industries and Reliance Petroleum are also up with notable gains.

Tata Consultancy Services, Tata Steel, Maruti Suzuki, ITC, ONGC, Reliance Communications, ACC and BHEL are down in the negative territory with sharp to moderate losses.

Spice Telecom tops the list of gainers in BSE 'A' Group. At Rs 44.10, the stock is up 6.8% over its previous closing price. Reliance Industrial Infrastructure, Rashtriya Chemicals & Fertilizers, Oriental Bank of Commerce, United Spirits, IFCI, Brigade Enterprises, Nicholas Piramal, Hindustan Zinc, Maytas Infra, Omaxe, Exide Industries and HMT have moved up by 3% - 5%.

Parsvnath Developers, Jindal Saw, India Bulls Real Estate, Videocon Industries, Edelweiss Capital and Gujarat NRE Coke have also moved up sharply.

Mkts Open On A Positive Note @ 10:12 Hrs

Stock prices have edged higher in early trade on the major Indian bourses this morning thanks to a firm trend across the globe. Realty, power, auto and capital goods stocks are among the prominent gainers at present.

A few stocks from pharma, information technology, oil and banking sectors have also progressed to higher levels. Metal and FMCG stocks remain a bit subdued. Several mid and small-cap stocks have moved on to higher levels in opening trade.

The Sensex, which opened with a positive gap of nearly 100 points at 16,796.26, rallied to 16,844.02 before retreating to 16,752.10 due to resistance at higher levels. At present, the barometer is up with a modest gain of 85.61 points or 0.51% at 16,783.65. The Nifty is up 0.52% or 25.90 points at 5048.70. Earlier, after opening at 5022.80, it had hit a high of 5072.70 before drifting down to 5022.90.

Jaiprakash Associates (up 3.3% at Rs 251.25) has gained the most among the Sensex components. Satyam Computer Services, ONGC, Mahindra & Mahindra, Maruti Suzuki, Larsen & Toubro, HDFC, HDFC Bank, Grasim Industries, Bharti Airtel, BHEL and Wipro have moved up by 1% - 2%.

Tata Motors, Reliance Industries, NTPC, Hindustan Unilever, ITC and Cipla have also made it to the positive territory. Infosys Technologies is up by around a quarter per cent.

ACC, Hindalco, ICICI Bank and Tata Steel have declined sharply. Tata Consultancy Services, State Bank of India, ONGC and Ambuja Cements exhibit weakness.

SAIL, Tata Power, Suzlon Energy, Siemens, Unitech, Nalco, Zee Entertainment, Hero Honda, GAIL India, Cairn India and Dr.Reddy's Laboratories are among the major gainers in the Nifty index.

Mkts Open On A Positive Note @ 10:10 Hrs

Aided by strong gains posted by a few blue chips including Larsen & Toubro, Infosys Technologies, DLF, BHEL and NTPC, the Sensex has moved up sharply in early trade this morning.

The Sensex, which opened with a positive gap of around 40 points at 16,823.99, edged up to 16,871.27 in early trade, is at present up with a gain of 69.38 points or 0.41% at 16,853.25. The Nifty has gained 0.4% or 20.40 points at 5069.70. Earlier, after opening at 5044.35, it had surged to a high of 5083.50.

Though Wall Street closed on a weak note and Asian markets present mixed cues this morning, the mood at the Indian bourses remains cautiously optimistic at present.

Larsen & Toubro has gained nearly 2.25% at Rs 2985. DLF has moved up by around 2% to Rs 687.90. Infosys Technologies is up by a little over 2%. Jaiprakash Associates has notched up a gain of 1.6%. ACC, Ambuja Cements, BHEL, Bharti Airtel, Mahindra & Mahindra, Maruti Suzuki, Ranbaxy Laboratories, ONGC, Reliance Industries, Reliance Communications, Reliance Energy, State Bank of India and Tata Motors have also posted notable gains.

Wipro, Cipla and ITC are up with marginal gains. Hindalco and HDFC trade flat. Tata Consultancy Services is down with a marginal loss while HDFC Bank, ICICI Bank, Satyam Computer Services and Tata Steel have declined sharply.

Idea Cellular, Unitech, Zee Entertainment, Cairn India, Reliance Petroleum, Power Grid, Tata Power and Nalco are among the prominent gainers in the Nifty index.

SAIL has lost over 3%. HCL Technologies, Dr. Reddy's Laboratories, Suzlon Energy, Hero Honda and GAIL India also exhibit weakness.

Mkts Remain Upbeat @ 10:58 Hrs

With most of the blue chip stocks holding on to their early gains, the benchmark indices Sensex and Nifty, which opened on a rousing note this morning, remain high up in the positive territory now. Though stocks cutting across sectors have moved up sharply, gains posted by metal and information technology stocks remain more pronounced at present.

At 16,738.66, around 40 points down from a high of 16,778.59 it had touched earlier this morning, the Sensex is 257.46 points or 1.56% ahead of its previous closing mark. The Nifty, which spurted to a high of 5053.40 in early trade, is up with a gain of 1.64% or 81.50 points at 5039.90 at present.

Mirroring sustained buying in key metal and software stocks, the BSE Metal and IT indices have gained 2.56% and 1.9% respectively. The Teck index is up nearly 2%. The Capital Goods, Realty, Power, PSU, Oil & Gas, Consumer Durables, FMCG and Healthcare indices have also moved up sharply. The Bankex, which was down in the red in early trade, has now surged 1.32% thanks to a strong comeback by front line bank stocks. The index tracking the movements of auto stocks has advanced by 0.82%.

Besides large caps, a number of stocks from midcap and smallcap space too have risen sharply this morning. Reflecting investor interest for mid and smallcap stocks, the BSE Midcap and Smallcap barometers have shot up by 2.05% and 2.12% respectively.

Tata Steel, the biggest gainer in the Sensex at present, is up by 4.2% at Rs 744.95. Jaiprakash Associates has gained nearly 4% at Rs 225.75. Wipro is up by around 3.25% at Rs 473.95.

Bharti Airtel, Grasim Industries, Hindalco, HDFC Bank, Tata Consultancy Services and Ranbaxy Laboratories are up by 2.5% - 3%. Larsen & Toubro, DLF, Satyam Computer Services, Reliance Energy, ICICI Bank, NTPC, HDFC, Reliance Industries, Cipla, ONGC, ACC, Hindustan Unilever, Infosys Technologies, Ambuja Cements, Maruti Suzuki and Tata Motors are also up with smart gains.

Mahindra & Mahindra and State Bank of India are up marginally over their previous closing levels while BHEL, the lone Sensex stock in the negative territory, is down with a small loss.

Suzlon Energy has gained 5.25% at Rs 315.25 on strong buying support on the back of reports that the company has won some huge orders. Idea Cellular is up with a sharp gain of 4.3%. SAIL, Tata Communications, Nalco and Cairn India have also moved up sharply.

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.

Sensex Up Over 200 Pts @ 10:10 Hrs

Taking cues from strong global markets, equities opened on a buoyant note on the major Indian bourses this morning. Stocks cutting across sectors have surged higher with the bulls thronging the counters in early trade.

The Sensex, which opened at 16,456.04, around 212 points off its previous closing mark, moved on to 16,534.84 in early trade. At present, the barometer is up with a gain of 205.45 points or 1.26% at 16,449.64.

The Nifty, which flared up to 4966.85 after opening at 4890.60, has posted a gain of 1.14% or 55.70 points at 4943.

Information technology stocks, as they had done over the last two sessions, are seen leading the charge up north. Sector bellwether Infosys Technologies has gained over 2.5% at Rs 1640.10. Satyam Computer Services has posted a gain of 2.85%. Wipro and Tata Consultancy Services have gained 2.2% and 1.3% respectively.

Index heavyweight Reliance Industries has notched up a gain of 1.3%. Reliance Energy is up by around 2%. Among banking sector heavyweights, HDFC Bank and ICICI Bank have gained 2.65% and 2.1% respectively while State Bank of India is up with a gain of 1.15%.

Tata Motors, Tata Steel, ONGC, Ranbaxy Laboratories, Larsen & Toubro, Jaiprakash Associates, ICICI Bank, HDFC, Hindalco, Bharti Airtel, BHEL and DLF have gained 1% - 2%.

ACC, Ambuja Cements, Cipla, Grasim Industries, Hindustan Unilever, Mahindra & Mahindra, Maruti Suzuki, Reliance Communications and NTPC have also posted smart gains.

HCL Technologies, Sterlite Industries, Reliance Petroleum, Zee Entertainment, Tata Power, Cairn India, Nalco, BPCL and Idea Cellular are among the top gainers in the Nifty index.

Bombay Dyeing which finished with a hefty gain yesterday, is up by around 10.5% at Rs 887. RNRL (2.3%), Nagarjuna Fertilizers (6.8%) and Reliance Capital (1.7%) have also moved up on strong volumes.