Market Private Convention Suitable To Firm Global Cues - July 15, 2009

After a firm opening, the key benchmark indices are trading with positive sentiments on the back of higher capital inflows by foreign funds and a firming global market. Besides, short covering by speculators also helped market to march towards the northward direction. On a stock specific move, DLF Limited is trading higher by 2.5% after it raised Rs 1000 crore through the sale of hotel plots and will also raise another Rs 1900 crore by the end of this fiscal year through the sale of more plots and its wind power business.

During the last hours’ trading session, buying interest has emerged across Realty, Metal and Capital Goods (CG) while selling pressure has emerged across FMCG, IT and Bankex.

Among the BSE Sectoral indices Realty, Metal and CG surged by 3.19%, 2.68% and 2.01% respectively, while FMCG stocks fell by nearly 0.56%.

Overall market breadth is positive. Out of the total 2,052 stocks traded at BSE, 1,470 advanced, 510 declined while 72 remained unchanged.

Tthe BSE Sensex is surged by 112.56 points at 13,966.27 while NSE Nifty up by 37.9 points at 4,149.3.

Besides, the BSE Mid Cap and Small Cap are trading higher by 107.4 points and 118.91 Points to 4,887.68 and 5,401.94 respectively.

Gainers from the BSE Sensex Pack are Tata Steel Limited surged by (3.91%) to Rs. 372.20, along with Hindalco Industries by (3.60%) to Rs. 76.25, Jaiprakash Associate by (3.53%) at Rs. 198.05, Hero Honda by (3.44%) at Rs. 1,450, BHEL by (2.97%) at Rs. 2,107.75 and Sun Pharmaceutical by (2.79%) at Rs. 1,210.

Gainers from the NSE Nifty Pack are Idea Cellular up by (4.10%) at Rs. 71.05 along with Tata Steel by (3.97%) at Rs. 372, Siemens Limited by (3.94%) at Rs. 415, Hero Honda by (3.75%) at Rs. 1,452.1, SAIL by (3.60%) at Rs. 158.1 and Hindalco Industries Limited by (3.46%) at Rs. 76.15.

BSE Realty is trading higher by (3.19%) or 95.52 points at 3,090.68. The top gainers in the index are Indiabul Real surged by (6.50%) to Rs. 203.10 along with Ansal Infra by (5.40%) to Rs. 50.75, Orbit Co by (4.97%) to Rs. 136.30, Akruti by (4.75%) to Rs. 473.40 followed by Penland Limited by (4.10%) at Rs. 58.40.

BSE Metal is trading higher by (2.68%) or 275.49 points at 10,549.24. The major gainers are Wels Guj SR surged by (5.05%) at Rs. 194.50 along with Jai Corp by (4.75%) at Rs. 209.55, Sesa Goa by (4.56%) at Rs. 207.4 followed by NMDC Limited by (4.38%) at Rs.334.

Markets Plunged On Weak Global Cues - July 08, 2009

The key benchmark indices plunged after tumbling sharply on weak global cues lingered by lower Asian stocks and overnight pullback in US stocks. The market has pared some early losses on reports that the government will have a disinvestment plan in three months to bridge the high fiscal deficit which is mounting heavily.

The government has set a target of Rs. 1,120 crore from divestment during financial year ending March 2010 in the Union Budget 2009-2010. Meanwhile, selling by foreign funds weighed on the investors sentiments.

On the sectoral front, all 13 Indices shrunk. Oil stocks came under pressure as crude oil fell to a six-week low on overnight on speculation that a US government report will show rise in weekly US crude inventories as the recession cut demand.

Bank stocks fell as government skipped financial sector reforms in the Budget which were high. Capital goods and construction stocks slipped despite Budget laid a major emphasis on infrastructure development.

Cement stocks gained as a thrust on the infrastructure sector in the Budget may boost cement demand.

Metal stocks plunged after LMEX, a measure of six metals traded on the London Metal Exchange, fell 1.18% overnight.

The Market breadth, indicating the overall strength of the market, was weak. On BSE, out of 2,442 stocks traded so far, 482 shares advanced while 1,900 shares declined. Nearly 60 shares are unchanged.

The BSE Sensex is trading lower by 251.80 points at 13,918.64 whereas NSE Nifty is down by 91.40 points at 4,112.55.

The BSE Mid Cap is trading lower by 126.92 points at 4,837.42 and Small cap is trading down by 145.37 points at 5,398.89.

Major gainers from the BSE Sensex pack are ACC Limited surged 3.32% to Rs. 787.80 along with Tata Motors Limited 2.89% to Rs. 287.95, Grasim Industries Limited gained 2.46% to Rs. 2,476.00, Hindalco Industries Limited improved 1.22% to Rs. 79.00, Maruti Suzuki India Limited advanced 0.75% to Rs. 1,079.95, NTPC Limited improved 0.60% to Rs. 194.20 and Reliance Industries Limited gained 0.53% to Rs. 1,865.20 among others.

Losers from the BSE Sensex Pack are Tata Steel Limited plunged 6.61% to Rs. 371.80 along with Sterlite Industries by 5.55% to Rs. 562.90, ICICI Bank Limited 4.96% to Rs. 660.50, Reliance Infrastructure Limited by 4.75% to Rs. 1,101.25, DLF Limited by 4.74% to Rs. 293.50, Larsen & Toubro Limited 3.80% to Rs. 1,443.80, State Bank of India Limited 3.02% to Rs. 1,587.00 and Housing development finance corporation Limited slipped 2.97% to Rs. 2,294.00 among others.

The BSE Realty is lower by 209.69 points or 6.59% at 2,972.45. Stocks trading in red are Unitech Limited plunged 10.75% to Rs. 68.10, Indiabulls Realty Limited 7.14% to Rs. 191.20, Omaxe Limited 6.74% to Rs. 84.45, Parsvnath by 6.72% to Rs. 77.00 and Ansal Infrastructure 6.53% to Rs. 48.65 among others.

Hindustan Unilever Limited fell 1.59% to Rs. 269.35 after a block deal of 1.99 lakh shares was executed on NSE at Rs. 273 per share. TRF Limited plunged 3.18% to Rs. 776.00 on profit taking after a recent sharp surge.

Reliance Industries Limited gained 0.53% to Rs. 1,865.20 despite the Supreme Court yesterday declined to stay the Bombay High Court''s verdict.

Sun Pharmaceuticals Industries Limited gained 0.01% to Rs. 1,143.50 after receiving approval from the US Food and Drug Administration to launch generic version of AstraZeneca Plc''s prostate cancer drug Casodex.

Cairn India Limited fell 4.30% to Rs. 210.35 after the crude oil prices dropped nearly 2% on the New York Mercantile Exchange on overnight.

Market Traded Outside Contracted Collection - June 24, 2009

Market after gap up opening, the key benchmark indices traded choppy. Some support was seen from rise in Asian stocks whereas worries about agricultural production due to uncertainty prevailing in monsoon kept the market fragile. Moreover, the market is skeptical about rolled over positions from June 2009 series to July 2009.

Rollover in the Nifty futures was 29.19% as at end of Tuesday''s trade. The rollover was 34.47% in Mini Nifty futures.

Among individual stocks, rollover has been weak in Wipro, Ranbaxy Lab, GAIL India, Reliance Capital and Steel Authority of India.

On the sectoral front, out of 13 Indices, 9 were traded in green whereas 4 were in red. IT stocks mixed after the World Bank said the US economy will shrink 3% in 2009 and also due to fluctuation in currency prices.

FMCG stocks mixed on delay in India’s annual monsoon. Capital Goods stocks advanced on hopes the government may boost spending on the infrastructure sector including increase in power generation. Bank stocks slipped after American depository receipts (ADR) fell overnight.

The Market breadth, indicating the overall strength of the market, was strong. On BSE, out of 2,459 stocks traded so far, 1,535 shares advanced while 848 shares declined. Nearly 76 shares are unchanged.

The BSE Sensex is trading higher by 45.04 points at 14,369.06 whereas NSE Nifty is up by 23.25 points at 4,270.25.

The BSE Mid Cap is trading higher by 94.14 points at 5,036.49 and Small cap is trading up by 99.03 points at 5,691.44.

Major gainers from the BSE Sensex pack are Jaiprakash Associates Limited advanced 3.73% to Rs. 208.80 along with Reliance Infrastructure Limited 2.68% to Rs. 1,256.25, DLF Limited by 2.18% to Rs. 323.30, Hindalco Industries Limited improved 2.08% to Rs. 83.25, Grasim Industries Limited advanced 2.01% to Rs. 2,273.50, Sun Pharmaceuticals Limited jumped 1.87% to Rs. 1,305.00, TCS Limited 1.80% to Rs. 372.80, Reliance Communication Limited by 1.74% to Rs. 301.25 and Larsen & Toubro Limited gained 1.01% to Rs. 1,501.00 among others.

Losers from the BSE Sensex Pack are Sterlite Industries Limited plunged 2.46% to Rs. 563.00 along with ICICI Bank Limited plunged 1.85% to Rs. 684.55, Mahindra & Mahindra Limited plunged 1.83% to Rs. 691.00, Housing Development Finance Co plunged 1.72% to Rs. 2,315.00, HDFC Bank Limited 0.59% to Rs. 1,476.80, Infosys Technologies Limited by 0.52% to Rs. 1,737.00, NTPC Limited 0.43% to Rs. 195.00 and Reliance Industries Limited slipped 0.35% to Rs. 2,009.00 among others.

The BSE Realty is higher by 101.75 points or 3.17% at 3,111.35. Stocks trading in green are Akruti City Limited 5.00% to Rs. 494.85, Indiabulls Realty 4.86% to Rs. 203.90, Omaxe Limited 3.62%% to Rs. 97.25, Parsvanath by 2.84% to Rs. 81.50 and Ansal Infra 2.75% to Rs. 57.90 among others.

Reliance Industries Limited slipped 0.35% to Rs. 2,009.00 on reports it will incur a loss if it sells natural gas from its D6 block in the Krishna-Godavari basin at $2.34 per million British thermal unit.

IRB Infrastructure Developers advanced 4.08% to Rs. 154.20 after it emerged as the lowest bidder for a national highway project in Rajasthan estimated at Rs. 1,500 crore.

Flawless Diamond (India) Limited zoomed 4.93% to Rs. 35.10 after the company said its board will meet on 1 July 2009 to consider stock split.

Orient Abrasives Limited spurted 2.98% to Rs. 39.80 after net profit jumped 63.4% to Rs 31.84 crore in the year ended March 2009 over the year ended March 2008.

Sun TV Network Limited jumped 5.24% to Rs. 249.00 ahead of its year ended March 2009 results later today, 24 June 2009.

Hindalco Industries Limited improved 2.08% to Rs. 83.25 after the government has imposed a safeguard duty on aluminium products imported from China.

Great Offshore Limited advanced 1.11% to Rs. 418.20 after Bharati Shipyard''s chief said the company will top a counter bid by rival ABG Shipyard for a controlling stake in Great Offshore.

Aurobindo Pharma Limited gained 4.77% to Rs. 479.00 after the company secured nod from South Africa''s Medicines Control Council to manufacture and market five more products in that country.

Dr Reddy''s Laboratories Limited gained 1.27% to Rs. 753.10 after the company launched Bispec, a drug which is useful for the management of over active bladder, in the domestic market.

Market Drifted Downward Advance - June 11, 2009

After subdued opening, the key benchmark indices traded in narrow range with volatility on high end due to lack of news to drive the market direction. The recent rally was seen as foreign funds were aggressively buying in Indian stocks. However, most of the Asian stocks are also trading lower today contrary to the European markets which have mostly opened positive.

Meanwhile, the government is considering a proposal to restore the rate of service tax to its earlier level of 12% that was reduced to 10% in the third stimulus package in February 2009.

On the sectoral front, out of 13 BSE Indices, 4 were traded in green whereas 9 were in red. Oil stocks were mixed as oil climbed $72 a barrel on Thursday after data showed falling US crude and product inventories, adding to signs that oil demand may have bottomed out.

Metal stock rose on emerging domestic demand. Banking stocks plunged as surging bond yields will result in diminution in value of their bond portfolio. IT stocks declined on worries higher borrowing costs and oil prices will threaten a recovery of the US economy.

Telecom stocks advanced on hopes government may speed up the auction process for the 3G WiMax services.

The Market breadth, indicating the overall strength of the market, was weak. On BSE, out of 2,671 stocks traded so far, 780 shares advanced while 1,830 shares declined. Nearly 61 shares are unchanged.

The BSE Sensex is trading lower by 119.50 points at 15,347.31 and NSE Nifty is down by 34.09 points at 4,621.15.

The BSE Mid Cap is trading lower by 31.09 points at 5,328.41 and Small cap is trading down by 88.67 points at 6,117.75.

Major gainers from the BSE Sensex pack are Mahindra & Mahindra Limited 4.40% to Rs. 801.65, along with Hindalco Industries Limited spurted 4.20% to Rs. 98.00, HDFC Bank Limited spurted 2.80% to Rs. 1,536.00, Sterlite Industries Limited 2.46%% to Rs. 680.00, Tata Steel Limited by 2.09% to Rs. 448.70, Bharti Airtel Limited by 1.90% to Rs. 850.95 and NTPC Limited 1.66% to Rs. 223.15 among others.

Losers from the BSE Sensex Pack are BHEL plunged 4.45% to Rs. 2,248.00 along with ACC Limited fell 3.79% to Rs. 863.30, Jaiprakash Associates 3.78% to Rs. 215.30, State Bank of India by 3.78% to Rs. 1,690.40, Infosys Technologies Limited 3.67% to Rs. 1,737.00, ONGC by 3.03% to Rs. 1,129.35, Reliance Infra by 2.77% to Rs. 1,184.40 and Wipro Limited by 2.73% to Rs. 420.90 among others.

The BSE IT is lower by 105.06 points or 3.10% at 3,287.86. Stocks trading in red are Finance Tech Limited plunged 3.93% to Rs. 1,407.00, Rolta India Limited 3.71% to Rs. 139.00, Infosys Technologies Limited 3.67% to Rs. 1,737.00, Oracle Finance Limited 3.61%% to Rs. 1,290.00 and Patni Computers Limited by 3.06% to Rs. 251.95.

Tata Tea Limited declined 1.96% to Rs. 799.00 after consolidated net profit dipped 54.48% to Rs. 700.55 crore despite 12.14% rise in total income to Rs. 4,907.30 crore in the year ended March 2009 over the year ended March 2008

Lanco Infratech Limited plunged 4.47% to Rs. 423.75 on profit taking after the stock jumped nearly 24% in the preceding two trading sessions.

ING Vysya Bank Limited slides 3.06% to Rs. 177.15 after the bank termed media reports of ING looking to sell out of ING Vysya Bank as speculative.

Gitanjali Gems Limited surged 3.50% to Rs 133.25 after the company''s unit decided to set up a joint venture in India in association with Damas LLC for retail trading

Mercator Lines Limited surged 2.48% to Rs. 68.15 on reports it is set to acquire three gearless post-Panamax bulk carriers totalling 2.77 lakh dead-weight tonnage on a charter basis.

Larsen & Toubro Limited declined 0.48% to Rs. 1625.80 on reports it is selling 8.3% stake in UltraTech Cement today, 11 June 2009 to financial investors for around Rs. 757 crore.

Monsanto India Limited deteriorated 7.81% to Rs. 1,775.25 on reporting a net loss of Rs. 26.74 crore in Q4 March 2009 as compared to net profit of Rs 11.62 crore in Q4 March 2008.

Cairn India Limited declined 0.14% to Rs. 258.30 as crude oil rose 1.02% or 73 cents to $72.06 per barrel on Asian electronic trading on Thursday, 11 June 2009.