Market Plunged Later Than Initial Surge - June 03, 2009

After subdued opening, the key benchmark indices strengthened on the back of sustained buying interest in Index Pivotals. This was also supported by firm Global markets. This rally may continue as equity analysts are raising earnings forecasts of India Inc on hope that the new government will revolutionize infrastructure sector in addition to other to boost growth.

Further, it is also expected that the market may see a pre-budget rally over the next one month on hopes of accelerated economic reforms and pro-reforms announcements.

On the sectoral front, out of 13 Indices, 9 were trading in green while only 4 were in red. Metal stocks advanced on strong domestic demand and firm metal prices on the London Metal Exchange.

FMCG majors edged higher on defensive buying. Outsourcing focused IT firms fell on rupee appreciation against dollar.

The Market breadth, indicating the overall strength of the market, was weak. On BSE, out of 2,771 stocks traded so far, 1,913 shares advanced while 800 shares declined. Nearly 58 shares are unchanged.

The BSE Sensex is trading lower by 23.11 points at 14,851.79 and NSE Nifty is down by 13.94 points at 4,511.30.

The BSE Mid Cap is trading higher by 18.93 points at 5,265.61 and Small cap is trading up by 69.02 points at 6,322.00.

Major gainers from the BSE Sensex pack are Tata Motors Limited surged 4.78% to Rs. 365.85 along with Sterlite Industries Limited spurted 4.63% to Rs. 722.50, ITC Limited spurted 3.91% to Rs. 199.45, ACC Limited advanced 3.89% to Rs. 815.00, Grasim Industries Limited by 3.73% to Rs. 2,291.80, Hindalco In by 3.53% to Rs. 90.90, Reliance Communication Limited by 3.51% to Rs. 330.55, Jaiprakash Associates Limited rose 3.31% to Rs. 223.25 and Tata Steel Limited 2.52% to Rs. 486.00 among others.

Losers from the BSE Sensex Pack are Mahindra & Mahindra Limited plunged 3.78% to Rs. 697.95 along with State Bank of India Limited fell 2.59% to Rs. 1,860.10, Infosys Technologies Limited by 2.28% to Rs. 1,644.00, ICICI Bank Limited by 1.12% to Rs. 724.25 and Reliance Industries Limited by 0.84% to Rs. 2260.00 among others.

The BSE Consumer Durables is higher by 100.33 points or 3.45% at 3,006.88. Stocks trading in green are Titan Industries Limited 4.95% to Rs. 1,170.00, Blue Star Limited 3.96% to Rs. 310.00, Gitanjali Gems by 2.97% to Rs. 133.50, Videocon Industries Limited 1.86%% to Rs. 186.45 and Rajesh Exports Limited by 0.68% to Rs. 51.90.

DLF Limited grew 0.19% to Rs. 405.50 on reports the Board of Approvals on Special Economic Zones agreed to denotify four zones of the real estate major.

Anu''s Laboratories Limited spurted 3.60% to Rs. 35.95 ahead of a board meeting today, 3 June 2009 to consider issue of bonus shares.

Tata Motors Limited surged 4.78% to Rs. 365.85 after global credit rating agency Moody''s revised upwards outlook on its low investment grade rating from negative to stable.

Jaiprakash Associates Limited rose 3.31% to Rs. 223.25 after cement dispatch jumped 25.7% to 8.07 lakh tons in May 2009 over May 2008.

ACC Limited advanced 3.89% to Rs. 815.00 after cement dispatch surged 4.88% to 9.25 million tons during the period from January-May 2009 over the January-May 2008 period.

HEG Limited fell 1.07% to Rs. 190.05 despite the company said it had repurchased foreign currency convertible bonds worth $3 million.

Shri Lakshmi cotsyn Limited advanced 4.94% to Rs. 65.90 after the company said its board of directors will meet on 9 June 2009 to consider capital expenditure of Rs. 1200 crore for various projects.

Flawless Diamond India Limited galloped 3.89% at Rs. 37.40 after the company bagged two overseas orders aggregating Rs. 33.60 crore.

Essar Oil Limited zoomed by 5.75% to Rs. 176.65 on reports company has decided to raise around $500 million by way of qualified institutional placement route as part of a $2 billion fund-raising program.

Markets Are Trading Through Well-Brought-Up Gains - June 01, 2009

The markets turn range bound in the afternoon trade but are still trading higher as buying momentum continues among the Realty, Metal, IT, Consumer Durables, Auto and Power stocks. However the selective banking stocks are trading under pressure today. Moreover the positive opening of the European markets also lifted the sentiments further.

The BSE Sensex is now trading above the 14,800 mark and the NSE Nifty above the 4,500 mark.

The overall market breadth is positive as 2217 stocks are advancing while 545 stocks are declining in BSE.

Tata Steel reported the top gainer from the BSE Sensex pack, as it is trading up by (6.82%) at Rs. 434 while BHEL reported the top loser trading down by (2.56%) at Rs. 2,119.20.

BSE Sensex is at 14,786.66 up by 161.41 points and Nifty is at 4,520.30 up by 71.35 points.

The BSE Mid Cap is trading higher by 140.31 points at 5,197.05 and the BSE Small Cap increased by 195.37 points to 6,182.19.

The Realty index is trading with strong gains of 176.34 points or 4.62% at 3,996.23. Pushing it are Unitech trading up by 11.79% at Rs89.15 along with Penland by 7.87% at Rs72, HDIL by 6.62% at Rs302.80, Orbitco by 6.20% at Rs178.95, Akruti City by 4.99% at Rs518.40, Anant Raj Inds by 4.98% at Rs133.80, Ansal Infra by 4.96% at Rs70.85, Mahindra Life by 4.95% at Rs295.70, Sobha Developers by 3.64% at Rs199.45 and Parsvnath by 3.62% at Rs100.30.

The Metal index is trading up by 415.68 points or 3.82% at 11,294.10. Gainers from this pack are Gujarat NRE Coke trading up by 9.94% at Rs47 followed by Welpsun Guj by 9.27% at Rs184.50, Jindal Saw by 7.45% at Rs393.70, Tata Steel by 6.92% at Rs434.40, Jindal Steel by 5.44% at Rs2206.25, Jai Corp Limited by 5% at Rs287.85, Hind Zinc by 4.47% at Rs608.10, Sterlite Inds by 4.10% at Rs648.20 and JSW Steel by 3.22% at Rs568.50.

The most active shares on NSE are Unitech trading at Rs 79.60 with a total traded quantity of 93380767 shares followed by Suzlon Energy trading at Rs.114.95 with a total traded quantity of 78693084 shares.

Maruti Suzuki India Limited is trading up by 1.85% at Rs1040. The company sold a total of 79,872 vehicles in May 2009. This includes 9,087 units for export. The company had sold a total of 69,001 vehicles in May 2008.

Maruti Suzuki''s volume in the domestic A2 segment grew by 20.7 per cent while in the A3 segment the sales volume grew by 14.1 per cent during the month as compared to sales in May 2008. The month sales in C Segment grew by 25.1 per cent as compared to May 2008.

On the global markets front, the European markets are trading higher as the FTSE 100, DAX and CAC 40 index are trading up by (1.65%), (3.21%) and (2.32%) respectively.

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.

Markets Gained Momentum And Are Trading At Day’s High - April 23, 2009

The benchmark indices gained further grounds and are now trading at day high as buying continued among the Metal, IT, Auto, Realty and Banking stocks. The significant buying witnessed among the frontline indices today. The BSE Sensex has crossed the 11,000 mark and the NSE Nifty is inching towards the 3,400 mark. The broader indices also gather some momentum and are trading higher.

The overall market breadth is positive as 1,228 stocks are advancing while 1,156 stocks are declining in BSE.

Wipro reported the top gainer from the BSE Sensex pack, as it is trading up by (7.58%) at Rs. 303 while Sun Pharmaceutical reported the top loser down by (1.84%) at Rs. 1,158.50.

BSE Sensex is at 11,046.90 up by 229.36 points and Nifty is at 3,394.05 up by 63.75 points.

The BSE Mid Cap is higher by 29.66 points at 3,512.44 and the BSE Small Cap increased by 25.12 points to 3,987.80.

The Metal index is trading with handsome gains of 276.17 points or 4.10% at 7,012.05. Leading the rally are JSW Steel trading up by 7.09% at Rs336 along with Tata Steel by 6.47% at Rs256.75, Sterlite Inds by 4.58% at Rs384.55, SAIL by 4.23% at Rs112.10, Jindal Steel by 3.74% at Rs1556, Hindalco Inds by 3.39% at Rs56.40, Sesa Goa by 3.38% at Rs119.15, Hind Zinc by 3.02% at Rs500, Jindal Saw by 2.09% at Rs214.50.

The IT index is trading up by 96.38 points or 3.98% at 2,519.71. Gainers from this pack are Wipro trading higher by 8.29% at Rs305 in line with Tech Mahindra by 7.88% at Rs330.45, Oracel Fin by 4.82% at Rs900, Infosys by 4.64% at Rs1443.40, NIIT Ltd by 4.28% at Rs26.80, TCS by 3.20% at Rs560.30, Mphasis by 2.58% at Rs226.85 and Finance Tech by 1.11% at Rs663.

The most active shares on NSE are Unitech trading at Rs.45.80 with a total traded quantity of 59480612 shares followed by Suzlon Energy trading at Rs.62.30 with a total traded quantity of 36758519 shares.

Reliance Petroleum Ltd is trading up by 2.72% at Rs109.60. The company has announced the following Unaudited results for the quarter & year ended March 31, 2009. The Company has posted a net profit after tax of Rs 840 million for the quarter ended March 31, 2009. Total Income is Rs 37020 million for the quarter ended March 31, 2009.

The results for the Year ended March 31, 2009. The Company has posted a net profit after tax of Rs 840 million for the year ended March 31, 2009. Total Income is Rs 37020 million for the year ended March 31, 2009.

LIC Housing Finance is trading higher by 4.28% at Rs312.90. The Company has posted a net profit after tax of Rs 1575.580 million for the quarter ended March 31, 2009 as compared to Rs 1180.954 million for the quarter ended March 31, 2008. Total Income has increased from Rs 6296.774 million for the quarter ended March 31, 2008 to Rs 8060.820 million for the quarter ended March 31, 2009.

On yearly basis, the Company has posted a net profit after tax of Rs 5316.202 million for the year ended March 31, 2009 as compared to Rs 3871.872 million for the year ended March 31, 2008. Total Income has increased from Rs 21733.351 million for the year ended March 31, 2008 to Rs 29033.423 million for the year ended March 31, 2009.

On the global markets front, the European markets are trading lower as the FTSE 100 and the DAX index are trading down by (0.11%) and (0.56%).