Market Revolve By The Side Of The Base Line - July 28, 2009

Market after jittery opening, the key benchmark indices traded in a narrow range with negative bias. Some relief came from RBI, when it kept key policy rates unchanged at its quarterly monetary policy review announced today. The central bank said it will actively control liquidity to avoid government borrowing crowding out private credit demand.

Meanwhile, the government has allowed some relief to housing projects with a tax holiday under section 80 IB (10) of the Income Tax Act on profits from projects approved between 1 April 2007 and 31 March 2008.

The benefit comes with a condition that the projects are completed on or before 31 March 2012. The government has also extended tax holiday to developers of industrial parks by two years until March 2011.

The RBI, in its monetary policy, has kept the key rates unchanged and increased the inflation forecast to 5% by end March 2010 as against earlier 4%.

The Repo Rate, at which the central bank lends cash to banks, stays at 4.75%, which is its lowest in 9 years, and the Reverse Repo rate, at which it absorbs surplus cash from the banking system, stays at 3.25%. The statutory liquidity ratio (SLR) was also kept unchanged at 24%.

On the sectoral front, out of 13 Indices, 9 indices advanced whereas 4 indices declined. Banking stocks plunged after RBI revised its wholesales price inflation forecast to 5% by end March 2010 as against 4% projected earlier.

Auto stocks were mixed. IT stocks weaken on profit booking. Realty stocks toped the indices on fresh government announcement of tax benefits.

The Market breadth, indicating the overall strength of the market, was strong. On BSE, out of 2,583 stocks traded so far, 1,602 shares advanced while 898 shares declined. Nearly 83 shares are unchanged.

The BSE Sensex is trading higher by 10.44 points at 15,385.49 whereas NSE Nifty is down by 1.44 points at 4,570.85.

The BSE Mid Cap is trading higher by 66.72 points at 5,536.22 and Small cap is trading up by 113.26 points at 6,256.00.

Major gainers from the BSE Sensex pack are Tata Motors Limited surged 8.17% to Rs. 405.60 along with DLF Limited 3.49% to Rs. 426.50, Reliance Communication Limited 3.07% to Rs. 290.75, Bharti Airtel Limited improved 2.14% to Rs. 432.50, Mahindra & Mahindra Limited improved 2.13% to Rs. 833.50, Tata Power Limited gained 1.78% to Rs. 1,259.10, NTPC Limited by 1.49% to Rs. 217.65, Reliance Infra gained 1.42% to Rs. 1,181.00, Sun Pharmaceuticals Limited by 1.23% to Rs. 1,260.00 and ACC Limited by 1.16% to Rs. 858.00 among others.

Major losers from the BSE Sensex Pack are ICICI Bank Limited plunged 2.96% to Rs. 735.15, Infosys technologies Limited by 1.99% to Rs. 1985.00, State Bank of India Limited by 1.49% to Rs. 1,684.00, Reliance Industries Limited by 1.46% to Rs. 1,910.20, HDFC Bank Limited by 1.37% to Rs. 1,415.00, Matuti Suzuki by 0.83% to Rs. 1358.60 and Tata Steel Limited by 0.62% to Rs. 454.50.

The BSE Realty is higher by 160.73 points or 4.11% at 4,069.44. Stocks gained are Mahindra LifeScience Limited 7.78% to Rs. 300.00, Unitech Limited 5.80% to Rs. 93.10, Housing Development 4.72% to Rs. 288.40, Phoenix Mills Limited 4.07% to Rs. 118.80, Anant Raj Industries Limited by 3.79% to Rs. 130.00, DLF Limited by 3.49% to Rs. 426.50 and Ansal Infrastructure 3.05% to Rs. 65.90 among others.

Rashtriya Chemicals & Fertilizers Limited spurted 7.77% to Rs. 70.70 after net profit increased phenomenally 65.5% to Rs. 31.55 crore in Q1 June 2009 as against Q1 June 2008.

Tata Motors Limited jumped 8.17% to Rs. 405.60 after net profit increased significantly 57.5% to Rs 513.76 crore whereas 7.8% decline in sales to Rs. 6,350.20 crore in Q1 June 2009 as against Q1 June 2008.

Escorts Limited zoomed 4.44% to Rs. 70.50 after net profit increased in triple digit 138.7% to Rs 22.22 crore in Q3 June 2009 over Q3 June 2008.

NTPC Limited gained 1.49% to Rs. 217.65 after net profit increased extensively 27.1% to Rs. 2,193.62 crore on a 25.8% increase in sales to Rs. 12,002.68 crore in Q1 June 2009 as against Q1 June 2008.

Market On Top Of A Cautious Path - June 29, 2009

Market after opening on a positive note, the key benchmark indices drifted down into red on the back of mixed global cues. However, the market witnessed some stock-specific buying ahead of the announcement of Union Budget early next week, but valuation concerns and the delayed monsoon rains are made traders a bit cautious to take any fresh positions.

On a stock specific news, Tata Motors is trading lower by nearly 4.5% after it posted its first annual loss in eight years and announced more job cuts and plant closures at Jaguar and Land Rover due to the worst global recession.

During the last hours'' trading session, selling pressure has emerged across IT, TECk and FMCG stocks while buying interest has emerged across Realty, Consumer Durable (CD) and Metal counters.

Among the BSE sectoral indices IT, TECk and FMCG stocks declined by 2.03%, 1.01% and 0.58% respectively, while the Realty, CD and Metal indices surged by 3.73%, 3.32% and 0.98% respectively.

Overall the market breadth is positive as 1,375 stocks are trading in green while 709 stocks are in red.

The BSE Sensex lower by 26.48 points at 14,738.16 while NSE Nifty down by 6.44 points at 4,369.05.

Besides, the BSE Mid Cap and Small Cap are trading higher by 76.46 points and 98.77 points at 5,247.36 and 5,899.52 respectively.

Losers from the BSE Sensex Pack are Tata Motors down by (4.06%) to Rs. 326.50, along with Sun Pharmaceutical by (4.03%) to Rs. 1,094.50, Grasim Industries by (3.07%) at Rs. 2,300, Infosys Tech by (2.83%) at Rs. 1,775, HDFC by (2.53%) at Rs. 2,374 and TCS Limited by (2.02%) at Rs.388.90.

Losers from the NSE Nifty Pack are Suzlon Energy dipped by (5.30%) at Rs. 116.95 along with Tata Motors Limited by (4.25%) at Rs. 325.8, Sun Pharmaceutical by (3.65%) at Rs. 1,099.45, Grasim Industries by (2.92%) at Rs. 2,303, Infosys Technologies by (2.48%) at Rs. 1,781.8 and HDFC (2.47%) at Rs. 2,375.

BSE IT is trading lower by (2.03%) or 68.44 points at 3,306.88. The top losers in the index are Infosys Tech declined by (2.83%) to Rs.1,775 along with TCS Limited by (2.02%) to Rs. 388.90, Wipro by (0.94%) to Rs. 380.10 followed by Mphasis Limited by (0.37%) to Rs. 407.

BSE Realty is trading higher by (3.73%) or 125.67 points at 3,491.77. The major gainers are Housing Dev surged by (5.73%) at Rs. 266.55 along with Sobha Dev by (4.99%) at Rs. 214.7, Orbit Co by (4.81%) at Rs. 169.95 followed by Parsvnath by (4.53%) at Rs. 87.60.

Market Well Again On Or After Its Low - June 23, 2009

After weak opening the key benchmark Indices remained choppy on weak Asian stocks. The pull back in the realty, metals and banking sector pulled the benchmark, with traders shedding off in these sectors on the back of news that the World Bank has cut its global growth forecast for the current year. Meanwhile, volatility was high as traders rolled over positions in the futures & options segments to July 2009 from June 2009 ahead of expiry of June 2009 contracts on Thursday, 25 June 2009.

On the sectoral front, out of 13 Indices, 4 were traded in green whereas 9 were in red. Oil stocks fell as fall in crude oil prices would result in lower realizations from crude sales for oil exploration companies.

IT stocks dipped on renewed economic worries as World Bank said the US economy will shrink 3% in 2009.

Auto stocks fell on profit taking. Realty stocks fell on profit taking. Metal stocks slipped after LMEX, a gauge of six metals traded on the London Metal Exchange, fell 5.39% overnight.

The Market breadth, indicating the overall strength of the market, was weak. On BSE, out of 2,446 stocks traded so far, 751 shares advanced while 1,635 shares declined. Nearly 60 shares are unchanged.

The BSE Sensex is trading lower by 94.96 points at 14,231.26 whereas NSE Nifty is down by 12.44 points at 4,222.80.

The BSE Mid Cap is trading lower by 55.09 points at 4,875.42 and Small cap is trading down by 89.00 points at 5,510.57.

Major gainers from the BSE Sensex pack are NTPC Limited advanced 2.77% to Rs. 196.30 along with Tata Motors Limited 2.61% to Rs. 342.30, Tata Power by 2.13% to Rs. 1,131.00, Reliance Industries Limited advanced 2.13% to Rs. 1994.00, ONGC Limited jumped 1.76% to Rs. 1,011.15, Sun Pharma Limited 1.62% to Rs. 1,305.00, State Bank of India by 1.44% to Rs. 1,719.20, TCS Limited by 1.43% to Rs. 375.05 and BHEL Limited gained 1.41% to Rs. 2,125.00.

Losers from the BSE Sensex Pack are ICICI Bank Limited plunged 4.07% to Rs. 697.30 along with Hindalco Industries Limited plunged 3.68% to Rs. 81.25, Sterlite Industries Limited plunged 2.85% to Rs. 577.00, HDFC Bank Limited plunged 2.71% to Rs. 1,498.40, ITC Limited 2.69% to Rs. 197.35, Larsen & Toubro Limited by 2.61% to Rs. 1,471.00, DLF Limited by 2.34% to Rs. 315.50 and ACC Limited 1.96% to Rs. 726.00 among others.

The BSE Realty is lower by 101.75 points or 3.17% at 3,111.35. Stocks trading in red are Orbitco plunged 4.98% to Rs. 153.45, Unitech Limited 4.96% to Rs. 73.80, Omaxe Limited 4.68%% to Rs. 91.60, Anant Raj by 4.55% to Rs. 87.10 and Sobha Developers 4.39% to Rs. 196.00.

Hindustan Dorr-Oliver Limited gained 1.21% to Rs. 88.00 after the company bagged an order worth Rs. 53.05 crore.

AIA Engineering Limited advanced 1.04% to Rs. 223.45, after five lakh shares changed hands in two block deals on BSE and NSE combined.

Gujarat Industries Power Company Limited fell 3.07% to Rs. 78.85 after net profit declined 16.6% to Rs. 85.32 crore in the year ended March 2009 over the year ended March 2008.

Great Offshore Limited zoomed 8.28% to Rs. 415.00 after ABG Shipyard made an open offer to buy stake in the former at Rs 375 per share, countering a bid by rival Bharati Shipyard.

Vishal Information Technologies Limited fell 0.19% to Rs. 53.90 after the company''s board recommended a 1:2 bonus issue.

Siemens Limited improved 0.43% to Rs. 462.60 after the company bagged an order worth Rs 112 crore.

ONGC Limited jumped 1.76% to Rs. 1,011.15 on reports the company has struck oil and gas in three new blocks.

Cairn India Limited plummeted 1.65% to Rs. 224.05 after crude oil prices slumped nearly 4% on the New York Mercantile Exchange on Monday, 22 June 2009.

Market Tanks Due To Weak Global Cues - June 15, 2009

After a weak opening, the equities on the major Indian bourses are still trading in red territory following the weak Asian markets. Going ahead, lack of prominent triggers from the home front to offset negative cues from global markets encourages the domestic investors to trade on a cautious path after a sharp rally since early March.

On a stock specific move, Suzlon is trading higher by nearly 3.5% after world’s fifth-largest wind turbine maker informed that it is exploring the option of selling a large portion of its stake in Belgian company Hansen Transmissions, to raise money for retiring part of its Rs 12,000-crore debt.

During the last hours'' trading session, selling pressure has emerged across Oil & Gas, Metal and Auto stocks whereas moderate buying interest seen across Banking, PSU and FMCG counters.

Among the BSE sectoral indices, Oil & Gas, Metal and Auto stocks declined by 1.03%, 0.72% and 0.54% respectively, while the Bankex, PSU and FMCG indices surged by 1.41%, 1.06% and 0.49% respectively.

Overall the market breadth is negative as 1,267 stocks are trading in red while 860 stocks are in green.

The BSE Sensex declined by 76.15 points at 15,161.78 while NSE Nifty down by 6.94 points at 4,576.45. Besides, the BSE Mid Cap and Small Cap are trading down by 15.41 points and 25.81 points at 5,219.61 and 5,988.85 respectively.

Losers from the BSE Sensex Pack are Reliance Industries down by (4.53%) to Rs. 2,249.95, along with Sterlite Industry by (4.32%) to Rs. 687.1, Tata Motors by (4.16%) at Rs. 341.8, Tata Power by (3.79%) at Rs. 1,129, Hindalco Industries by (2.24%) at Rs. 98.2 and Mahindra & Mahindra Limited by (2.21%) at Rs. 765.95.

Losers from the NSE Nifty Pack are Reliance Industries declined by (5.51%) at Rs. 2,232 along with RPL by (5.44%) at Rs. 139.1, Sterlite Industries by (4.81%) at Rs. 685.35, Tata Power by (4.09%) at Rs. 1,129.65, Tata Motors Limited by (3.47%) at Rs. 344.85 and Hindalco Industries by (2.88%) at Rs. 97.9.

BSE Oil & Gas is trading down by (1.03%) or 108.41 points at 10,401.31. The major losers are Reliance Industries declined by (4.53%) at Rs. 2,249.95 along with RPL by (3.84%) at Rs. 141.30, Gail India Limited by (1.48%) at Rs. 282.75, Essar Oil Limited by (1.40%) at Rs. 166.10 followed by Indian Oil Corp by (0.73%) at Rs. 552.05.

BSE Metal is trading lower by (0.72%) or 87.91 points at 12,132.54. The top losers in the index are Sterlite Industries declined by (4.32%) to Rs.687.1 along with Welsp Guj SR by (3.97%) to Rs. 220.10, Gujarat NRE by (2.63%) to Rs. 49.90, followed by Hindalco Industries by (2.59%) to Rs. 97.85.

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.