Market Operate Stressed Out On Weak Sentiment - July 24, 2009

Market after witnessing wild swing in opening trade, which was short lived, the key benchmark indices is now hovering around the base line after gyrating in positive and negative terrain. Meanwhile, as per the provisional figures on the NSE, Foreign Institutional Investors (FIIs) bought shares worth Rs. 511.94 crore yesterday while domestic institutional investors sold shares worth Rs 34.16 crore.

This was augmented by latest economic data indicated improving economic activity. Assimilation of six infrastructure industries, that accounts for 26.7% of India''s industrial output, namely Cement, Coal, Crude Oil, Refining, Electricity and Steel together improved at an annual rate of 6.5% in June 2009 faster compared to 2.8% in previous month.

On the sectoral front, out of 13 Indices, 11 indices advanced whereas 2 indices declined. Auto stocks remained strong on better-than-expected first quarter results from auto major Maruti Suzuki India yesterday.

Metal stocks gains as LMEX, a gauge of six metals traded on the London Metal Exchange rose 1.29% overnight. Bank stocks weaken ahead of quarterly monetary policy review meet on Tuesday, 28 July 2009.

The Market breadth, indicating the overall strength of the market, was strong. On BSE, out of 2,582 stocks traded so far, 1,524 shares advanced while 971 shares declined. Nearly 87 shares are unchanged.

The BSE Sensex is trading higher by 73.70 points at 15,304.74 whereas NSE Nifty is up by 23.25 points at 4,547.

The BSE Mid Cap is trading higher by 73.64 points at 5,367.01 and Small cap is trading up by 78.42 points at 6,021.28.

Major gainers from the BSE Sensex pack are Tata Motors Limited surged 6.79% to Rs. 363.50 along with Maruti Suzuki India Limited 3.66% to Rs. 1343.00, Tata Steel Limited 3.45% to Rs. 429.05, Sterlite Industries Limited improved 3.11% to Rs. 652.35, DLF Limited improved 2.80% to Rs. 380.00, Hindalco Industries Limited gained 2.76% to Rs. 93.20, Jaiprakash Associates Limited gained 1.96% to Rs. 234.15, Infosys Technologies Limited by 1.70% to Rs. 1993.10, BHEL by 1.55% to Rs. 2201.10, Hero Honda Motors by 1.34% to Rs. 1688.00, Mahindra & Mahindra Limited by 1.23% to Rs. 811.75 and TCS Limited by 0.88% to Rs. 480.00 among others.

Major losers from the BSE Sensex Pack are Bharti Airtel Limited weaken by plunged 48.05% to Rs. 422.85, Housing Development Finance Co by 2.75% to Rs. 2385.00, Reliance Industries Limited by 1.80% to Rs. 2001.50, State Bank of India by 1.22% to Rs. 1704.80, HDFC Bank Limited by 0.95% to Rs. 1441.90, Reliance Infrastructure by 0.80% to Rs. 1157.30 and ACC Limited by 0.78% to Rs. 848.00.

The BSE Auto is higher by 143.53 points or 2.72% at 5,417.76. Stocks trading in green are Tata Motors Limited spurted 6.79% to Rs. 363.50, Bharat Forge Limited 6.72% to Rs. 170.00, Amtek Auto Limited 6.42% to Rs. 123.55, MRF Limited 4.29% to Rs. 3663.95, Exide Industries Limited by 4.05% to Rs. 78.30, Maruti Suzuki India Limited by 3.66% to Rs. 1,343.00 and Escorts Limited 3.21% to Rs. 64.35 among others.

Alstom Projects India Limited advanced 0.97% to Rs. 524.60 after net profit increased phenomenally 100.60% to Rs. 38.75 crore in Q1 June 2009 compared to Q1 June 2008.

Essel Propack Limited spurted 4.94% to Rs. 27.60 after the company posted net profit of Rs 5.24 crore in Q2 June 2009 as against net loss of Rs 9.75 crore in Q2 June 2008, on a consolidated basis.

Maruti Suzuki India Limited spurted 3.66% to Rs. 1343.00 after reporting higher-than-expected net profit in Q1 June 2009.

Gujarat State Petronet Limited zoomed 4.83% to Rs. 66.15 after net profit increased phenomenally 146.6% to Rs. 80.49 crore on a 76.4% rise in sales to Rs. 210.82 crore in Q1 June 2009 over Q1 June 2008.

Bharat Forge Limited shoot up 6.72% to Rs. 170.00 after the company expressed positive outlook for the future at the time of announcing Q1 June 2009 results

Idea Cellular surged 3.53% to Rs. 80.55 after net profit grew 14.7% to Rs. 309.21 crore on a 29.7% increase in sales to Rs. 2817.94 crore in Q1 June 2009 over Q1 June 2008.

Ambuja Cements Limited plunged 2.06% to Rs. 94.95 after net profit sunk 43.74% to Rs 324.65 crore in Q2 June 2009 over Q2 June 2008.

Market Obtain Back Its Strong Point - July 20, 2009

Market after a spectacular start, the key benchmark indices extended gains to touch fresh days high in early afternoon trade on firm global cues and strong gains from IT, Realty, Bank and Oil&Gas pivotals, as investors digested further results from India Inc. However, possibility of disruption in rail raises a risk of low agricultural output and hence high food inflation.

On the sectoral front, out of 13 Indices, 12 indices advanced whereas only 1 index declined. Oil exploration firms rose as oil gained at $64 a barrel mark bolstered by a rally in Asian stocks and fall in the dollar on hopes of a global economic recovery.

IT stocks zoomed on better-than-expected results from TCS on of the prominent Company in IT sector.

Bank stocks advanced on hopes building after Finance Minister announced that the government is committed to financial sector reforms.

The Market breadth, indicating the overall strength of the market, was strong. On BSE, out of 2,595 stocks traded so far, 1,728 shares advanced while 789 shares declined. Nearly 78 shares are unchanged.

The BSE Sensex is trading higher by 380.06 points at 15,124.99 whereas NSE Nifty is up by 112.30 points at 4,487.25.

The BSE Mid Cap is trading higher by 105.59 points at 5,211.18 and Small cap is trading up by 128.45 points at 5,809.35.

Major gainers from the BSE Sensex pack are TCS Limited surged 17.18% to Rs. 508.10 along with Wipro Limited 10.85% to Rs. 476.00, Infosys Technologies Limited spurted 5.17% to Rs. 1,963.50, ICICI Bank Limited improved 4.22% to Rs. 773.75, DLF Limited improved 4.12% to Rs. 346.55, Reliance Industries Limited gained 3.96% to Rs. 2,010.00 and Jaiprakash Associates Limited gained 3.69% to Rs. 220.70 among others.

Losers from the BSE Sensex Pack are Hero Honda Motos Limited plunged 1.41% to Rs. 1,615.00 along with ITC Limited plunged 1.22% to Rs. 227.20, Reliance Infra Limited 0.96% to Rs. 1,139.00, Reliance Communication Limited by 0.82% to 270.90 and Hindustan Uniliver Limited by 0.28% to Rs. 266.55.

The BSE IT is higher by 290.32 points or 8.28% at 3,795.60. Stocks trading in green are TCS Limited surged 17.18% to Rs. 508.10, Wipro Limited 10.85% to Rs. 476.00, HCL Technologies Limited surged 10.08% to Rs. 237.55, Mphasis Limited improved 9.30% to Rs. 422.00 and Tech Mahindra Limited 8.02% to Rs. 794.00 among others.

Kirloskar Pneumatic Company Limited plunged 7.04% to Rs. 369.00 after the company posted a net loss of Rs. 4.87 crore in Q1 June 2009 over net profit of Rs 6.20 crore in Q1 June 2009.

Reliance Industries Limited gained 3.96% to Rs. 2,010.00 ahead of a Supreme Court hearing today, of a gas dispute between the company and Anil Dhirubhai Ambani-controlled Reliance Natural Resources.

State Bank of Mysore Limited zoomed 7.54% to Rs. 660.05 after net profit spurted 474% to Rs. 82.19 crore in Q1 June 2009 as against Q1 June 2008.

Flawless Diamond (India) Limited spurted 8.57% to Rs. 34.85 after the company bagged two export orders aggregating Rs. 32 crore for supply of diamond and designer jewellery.

HCL Technologies Limited surged 10.08% to Rs. 237.55 after its unit HCL Axon bought the SAP division of South Africa''s UCS Group.

Apollo Hospitals Enterprise Limited gained 3.14% to Rs. 568.90 after net profit jumped 53.05% to Rs. 44.80 crore on a 26.33% rise in total income to Rs. 420.63 crore in Q1 June 2009 over Q1 June 2008.

Nagarjuna Construction Company Limited gained 4.06% to Rs. 139.60 after the company bagged three orders aggregating Rs. 776 crore

TCS Limited spurted 17.18% to Rs. 508.10 after net profit rose 15.27% to Rs 1276.44 crore on 0.12% decline in sales to Rs 5609.60 crore in Q1 June 2009 over Q4 March 2009.

Allahabad Bank Limitedspurted 10.57% to Rs. 87.85 after net profit soared 224.4% to Rs. 302.86 crore in Q1 June 2009 as against Q1 June 2008.

Market In Choppy Trade On The Back Of Asian Firm - June 19, 2009

After tentative opening, the key benchmark indices hit intraday high in mid morning trade in choppy trade on the back of firm Asian stocks and higher US index futures. Back home, the indices snapped a four-day slide after upbeat US factory and jobs data provided more evidence that the global economy is recovering from its deep recession.

Meanwhile, investor expectations from the new government are high in financial sector in the shape of reforms such as increase in the cap on foreign direct investment in insurance sector to 49%, from 26% at present.

On the sectoral front, out of 13 Indices, 10 were traded in green whereas 3 were in red. Bank stocks advanced on higher advance tax payment in Q1 June 2009.

IT stocks advanced on reports the forthcoming Union Budget may extend the corporate tax holiday enjoyed by export-oriented units and software parks by three more years, as the government looks forward to clearing the air for companies in these segments reeling under a demand slump in key Western markets.

Auto stocks advanced on bargain hunting after a recent slide. Capital goods stocks advanced on hopes the government may boost spending on the infrastructure sector.

The Market breadth, indicating the overall strength of the market, was weak. On BSE, out of 2,552 stocks traded so far, 1,156 shares advanced while 1,313 shares declined. Nearly 83 shares are unchanged.

The BSE Sensex is trading higher by 13.68 points at 14,279.21 whereas NSE Nifty is down by 12.94 points at 4,238.45.

The BSE Mid Cap is trading higher by 1.80 points at 4,878.66 and Small cap is trading down by 11.23 points at 5,561.20.

Major gainers from the BSE Sensex pack are Tata steel Limited 4.37% to Rs. 406.00, along with Tata Motors Limited advanced 4.14% to Rs. 342.20, Larsen & Toubro Limited 2.94% to Rs. 1,456.95, Infosys Technologies Limited by 2.62% to Rs. 1,766.50, Sterlite Industries Limited advanced 2.34% to Rs. 603.00, Jaiprakash Associates Limited spurted 2.30% to Rs. 195.70, Reliance Infrastructure advanced 1.99% to Rs. 1,225.10 and BHEL Limited advanced 1.97% to Rs. 2,073.00 among others.

Losers from the BSE Sensex Pack are NTPC Limited plunged 2.89% to Rs. 196.70 along with ACC Limited plunged 2.42% to Rs. 740.00, Mahindra & Mahindra Limited plunged 2.21% to Rs. 725.05, ONGC Limited plunged 1.72% to Rs. 995.00, Tata Power Limited 1.24% to Rs. 1,162.20, ICICI Bank Limited by 1.12% to Rs. 696.00, Bharti Airtel by 0.28% to Rs. 803.00 and State Bank of India Limited 0.01% to Rs. 1,702.00 among others.

Punj Lloyd Limited jumped 4.27% to Rs. 191.60 on value buying after it shed 12.62% in preceeding two sessions.

Oriental Bank of Commerce Limited advanced 1.80% to Rs. 180.70 after a block deal of 4.43 lakh shares was executed on NSE at Rs 181 per share.

Bank of Baroda Limited advanced 0.13% to Rs. 429.20 after a block deal of 1.52 lakh shares was executed on NSE at Rs. 431.50 per share.

Jaiprakash Associates Limited spurted 2.30% to Rs. 195.70 after it raised Rs. 500 crore through sale of 2.5 crore treasury shares in a block deal on Thursday, 18 June 2009.

Lupin Limited advanced 0.16% to Rs. 819.00 after the company received US drug regulator''s nod for a generic drug.

Reliance Infrastructure advanced 1.99% to Rs. 1,225.10 on reports a consortium of the company and Hyundai Engineering is likely to win a contract worth Rs 1500 crore to connect Mumbai''s Bandra-Worli sea link with Haji Ali.

Dr Reddy''s Laboratories Limited advanced 1.38% to Rs. 740.50 after the company secured US drug regulator''s nod for a generic drug.

Opto Circuits India Limited spurted 4.33% to Rs. 156.75 after consolidated net profit surged 59.8% to Rs 209.80 crore in the year ended March 2009 over the year ended March 2008.