Markets Gained Further Grounds - June 26, 2009

The markets are now trading near the day’s high and with strong gains as buying momentum continued across the board. Further the positive opening of the European markets also boosted the sentiments. The Capital Goods and Banking index outperformed the benchmark index today and are now trading with a gain of more than 3% each.

The broader market indices are also trading significantly higher as both the BSE Mid Cap and the BSE Small Cap index are now trading with a gain of more than 1% each.

The BSE Sensex is now trading above the 14,600 mark while the NSE Nifty above the 4300 mark.

The overall market breadth is positive as 1546 stocks are advancing while 996 stocks are declining in BSE.

ICICI Bank reported the top gainer from the BSE Sensex pack, as it is trading up by (6.26%) at Rs. 742.45 while Sun Pharmaceuticals reported the top loser trading down by (12.13%) at Rs. 1,140.90.

The BSE Sensex is trading up by 281.56 points at 14,627.18 and the NSE Nifty is trading higher by 95.70 points or (2.26%) at 4,337.55.

The BSE Mid Cap increased by 94.88 points or (1.88%) to 5,144.78 and the BSE Small Cap grew by 88.81 points or (1.56%) to 5,781.83.

The Capital Goods index is trading with gains of 486.82 points or 3.87% at 13,065.88. Gainers from this pack are Larsen and Toubro trading up by 5.49% at Rs1611.50 along with Suzlon Energy by 4.50% at Rs123.15, Thermax Ltd by 4.20% at Rs412, Reliance Industrial Infra by 3.86% at Rs1009.90, Areva by 3.02% at Rs342.50, Punj Lloyd by 2.66% at Rs214.50, Bhel by 2.57% at Rs2,188 and Gammon India by 2.13% at Rs172.50.

The Bankex index is trading higher by 250.05 points or 3.14% at 8,220.91. Leading the rally are ICICI bank trading up by 6.63% at Rs745 along with Kotak bank by 5.07% at Rs648.60, Axis bank by 4.60% at Rs813.05, IDBI bank by 3.33% at Rs116.25, Indusind bank by 3.26% at Rs88.65, Union bank by 2.53% at Rs235, Canara bank by 2.52% at Rs264.50, Punjab National Bank by 2.32% at Rs644.05, SBI by 1.95% at Rs1737.60 and Yes bank by 1.85% at Rs142.80.

The most active shares on NSE are IFCI trading at Rs 55.20 with a total traded quantity of 51798385 shares followed by Unitech trading at Rs.82.45 with a total traded quantity of 43125103 shares.

State Bank of Mysore is trading up by 0.86% at Rs584.90. The bank has informed that the Bank has revised the following rates with effect from June 29, 2009. Bench-Mark Prime Lending Rate: Reduction by 50 basis points and the deposit Rates Reduction by 25 basis points.

Tata Steel Ltd is trading lower by 3.32% at Rs384.75. The company has announced the following Audited results for the year ended March 31, 2009.

The Company has posted a net profit of Rs 52017.40 million for the year ended March 31, 2009 as compared to Rs 46870.30 million for the year ended March 31, 2008.

Total Income has increased from Rs 199338.30 million for the year ended March 31, 2008 to Rs 246240.40 million for the year ended March 31, 2009.

On the global markets front, the European markets are now trading higher as the FTSE 100, DAX and CAC 40 index are trading up by (0.70%), (0.84%) and (0.55%) respectively.

Market Sentiments The GDP Information Drifted - May 29, 2009

After a spectacular opening the key bench market indices spurred on better than expected fourth quarter Gross Domestic Product (GDP) data which grew by 5.8% for Jan-Mar quarter as compared to 5.3%. The market anticipated GDP at 5%. Further, bounce back in global markets also supported the market momentum.

Meanwhile, Swiss Bank UBS AG''s lead India economic indicator was up for the fourth consecutive month in April 2009, indicating to a rebound in industrial activity by June 2009.

On the sectoral front, all 13 Indices were trading in green. Bank stocks rose on expectations that the UPA government will spur financial sector reforms.

Metal stocks spurted on strong domestic demand and on rise in US copper futures. Realty stocks advanced on expectations that stability at the Centre will attract FDI into the sector which in turn will boost growth.

The Market breadth, indicating the overall strength of the market, was strong. On BSE, out of 2,759 stocks traded so far, 2,216 shares advanced while 488 shares declined. Nearly 55 shares are unchanged.

The BSE Sensex is trading higher by 372.65 points at 14,668 and NSE Nifty is up by 126.64 points at 4,463.75.

The BSE Mid Cap is trading higher by 129.73 points at 5,265.30 and Small cap is trading up by 180.03 points at 5,991.73.

Major gainers from the BSE Sensex pack are Mahindra & Mahindra zoomed 8.14% to Rs. 690.00 along with ACC Limited advanced 7.01% to Rs. 771.80, ONGC Limited by 6.74% to Rs. 1,207.00, Jaiprakash Associates by 6.41% to Rs. 204.05, TCS Limited spurted 4.80% to Rs. 691.50, Larsen & Toubro Limited by 4.11% to Rs. 1,397.00, Tata Steel Limited by 3.77% to Rs. 398.05, Bharti Airtel Limited by 3.55% to Rs. 823.40 and DLF Limited spurted 3.31% to Rs. 384.30 among others.

Losers from the BSE Sensex Pack are Sun Pharmaceuticals Limited plunged 6.55% to Rs. 1,232.00 along with Grasim Industries Limited fell 0.33% to Rs. 2,177.00, and Tata Power Limited by 0.22% to Rs. 1,095.00.

The BSE Realty is higher by 144.51 points or 4.04% at 3,722.45. Stocks trading in green are Phoenix Mills Limited spurted 9.97% to Rs. 137.90, Ansal Infra Limited surged 8.36% to Rs. 66.75, Orbitco Limited by 5.63% to Rs. 165.20, Akruti City 5.00%% to Rs. 493.75 and Parsvnath by 4.99% to Rs. 96.80.

Aro Granite Industries Limited advanced 19.79% to Rs. 52.05, after the company said its board will meet on 8 June 2009 to consider buyback of equity shares.

Visa Steel Limited surged 3.66% to Rs. 29.75 on reports the firm expects to grow at 15-20% in the financial year-ending March 2010 and plans to raise Rs 2500 crore for expansion.

Bajaj Electricals Limited galloped 10% at Rs. 423.05, extending gains for the third consecutive day, after net profit surged 42.90% to Rs 47.47 crore in Q4 March 2009 over Q4 March 2008.

DLF Limited spurted 3.31% to Rs. 384.30 on reports promoters are planning to sell another 5.5% stake to raise Rs 1000-1500 crore.

Nagarjuna Construction Company Limited advanced 3.21% to Rs. 130.15, after consolidated net profit rose 8.28% to Rs 181.34 crore in the year ended March 2009 over the year ended March 2008.

Mahindra & Mahindra zoomed 8.14% to Rs. 690.00 extending recent gains after net profit jumped 89% to Rs 418.07 crore in Q4 March 2009 over Q4 March 2008.

Siemens Limited inclined 3.19% to Rs. 493.65 after the company said it will invest Rs 275 crore to triple the capacity of its steam turbine facility located at Vadodara in Gujarat.

Tata Motors Limited improved 1.83% to Rs. 338.75 after it launched a new range of premium trucks called on Thursday, 28 May 2009, which is expected to give its commercial vehicles business a much-needed push.

GMR Infrastructure Limited billed up 2.40% to Rs. 166.60, after the company won an order for a highway project in Andhra Pradesh through international bidding process.

Market Trading Calm Resting On Explosive Assembly - May 28, 2009

After a subdued opening the volatility seems to have caught the day''s trade ahead of F&O expiry today. The mixed global cues are also adding fuel to fire the volatility. In a major concern, the global rating agency Moody''s Investors Service said India''s credit rating may come under pressure if the government is not bale to restrict its widening budget deficit.

On the sectoral front, out of 13 Indices, majority of the Indices were trading in green while Banking, Health Care and Consumer durables were under pressure. Metal stocks traded mixed as copper dropped around 2% on the London Metal Exchange overnight.

Capital Goods stocks advanced on expectations of increased infrastructure spending by the UPA government to boost growth. Healthcare stocks gained on hopes UPA government will give primary importance to healthcare segment and health of citizens.

Realty stocks continued its gains on expectations that stability at the Centre will attract more FDI into the sector which in turn will boost growth.

The Market breadth, indicating the overall strength of the market, was strong. On BSE, out of 2,703 stocks traded so far, 1,717 shares advanced while 927 shares declined. Nearly 59 shares are unchanged.

The BSE Sensex is trading higher by 189.20 points at 14,308 and NSE Nifty is up by 53.39 points at 4,329.45.

The BSE Mid Cap is trading higher by 44.88 points at 4,942.25 and Small cap is trading up by 33.06 points at 5,830.80.

Major gainers from the BSE Sensex pack are Mahindra & Mahindra Limited spurted 4.59% to Rs. 654.00 along with Larsen & Toubro Limited advanced 3.88% to Rs. 1,362.30, Tata Steel Limited by 3.13% to Rs. 384.95, Sterlite Industries by 3.70% to Rs. 613.00, Bharti Airtel Limited spurted 2.94% to Rs. 791.50, ACC Limited by 2.60% to Rs. 727.50, TCS Limited by 2.39% to Rs. 660.45, Maruti Suzuki Limited by 2.35% to Rs. 996.50 and Reliance Industries Limited 2.29% to Rs. 2,237.20 among others.

Losers from the BSE Sensex Pack are ACC Limited plunged 1.68% to Rs. 698.30 along with Tata Motors Limited fell 3.87% to Rs. 330.25, Reliance Infra Limited by 2.65% to Rs. 1,254.00, ICICI Bank Limited slipped 0.55% to Rs. 706.65 and Jaiprakash Associates Limited by 0.34% to Rs. 189.65 among others.

The BSE Metals is higher by 317.56 points or 3.09% at 10,584.35. Stocks trading in green are NMDC Limited spurted 8.57% to Rs. 416.85, JSW Steel Limited surged 7.96% to Rs. 557.00, Steel Authority of India by 6.58% to Rs. 164.35, Jai Corp 4.99%% to Rs. 261.10 and Sterlite Industries by 3.70% to Rs. 613.00.

Bharat Heavy Electricals Limited rose 0.71% to Rs. 2,093.00, on profit taking after a recent sharp surge.

LIC Housing Finance Limited surged 7.30% to Rs. 513.60 after the company said its board will meet on 1 June 2009 to consider issuing shares on a preferential basis and qualified institutional placement of shares.

Torrent Power Limited fell nearly 0.11% to Rs. 142.10 after a block deal of five lakh shares was executed on NSE at Rs 144 per share.

Bharti Airtel Limited spurted 2.94% to Rs. 791.50 on value buying after the stock fell 10.36% in the preceding three trading sessions.

Religare Enterprises zoomed 2.28% to Rs. 464.90 on reports it is in talks with Swiss Re, the world''s second-largest re-insurer, to form a joint venture health insurance company in India.

Larsen & Toubro Limited advanced 3.88% to Rs. 1,362.30 ahead of its Q4 March 2009 results later today, 28 May 2009

Jindal Steel & Power Limited rose 0.25% to Rs. 2,086.20 after consolidated net profit jumped 140.65% to Rs 3007.15 crore in the year ended March 2009 over the year ended March 2008.

Novartis India Limited jumped 14.19% to Rs. 444.90 after its Swiss parent raised open offer price to Rs. 450 a share from Rs. 351 a share earlier.