Post Session Indian stock Market Commentary, 19/08/2009

Stock market lost its opening strength and extended its losses towards the closing to end the session with losses backed by significant selling pressure. Weak Asian markets along with negative European stocks took huge strike on the bourses. Lower US index futures also weighed on sentiments. Investors were worried regarding the weak monsoon rain that is putting pressure on food prices and energy supplies. However, market pared some losses during last trading hours on a little buying in key stocks. Meanwhile, foreign direct investment in India stood at $2.58 billion in June, with rise of 8% as compared with the same month last year. The BSE Sensex ended below 14,850 level and NSE Nifty closed below 4,400 mark.

Market opened slightly higher tracking positive cues from the US markets. On Tuesday, the US stocks markets rebounded from previous session’s sharp fall to close higher as buyers picked up stocks at low prices to give a good start for the markets. The rally was directed by financial, retail and technology as stocks posted gains over the ground. However, Indian stocks suddenly turned choppy backed by lower Asian markets. Further, benchmark indices continued to trade with losses on profit booking pressure at higher level. The selling pressure was mainly led by more than 4% fall in the Chinese markets. During final trading hours, market managed to reduce losses a bit but was still in negative territory. From the sectoral front, all indices ended in red. Besides, Oil & Gas, Metal, Auto, Power, PSU, Realty, Power and Teck stocks contributed to most of the selling pressure. Broader markets also remained out of favour as BSE Midcap and Smallcap stocks closed with losses.

Among the Sensex pack 27 stocks ended in red territory and 3 stocks ended in green territory. The market breadth indicating the overall health of the market remained negative as 1490 stocks closed in green while 1134 stocks closed in red and 89 stocks remained unchanged in BSE.

The BSE Sensex closed lower by 225.62 points or (1.50%) at 14,809.64 and NSE Nifty ended down by 64.80 points or (1.45%) at 4,394.10. BSE Mid Caps and Small Caps closed with losses of 62.49 and 33.06 points at 5,434.06 and 6,308.69 respectively. The BSE Sensex touched intraday high of 15,096.94 and intraday low of 14,684.45.

Losers from the BSE Sensex pack are ACC Ltd (5.08%), Reliance Infra (4.86%), RCom (4.38%), Grasim Industries (4.20%), Tata Steel (3.93%), M&M Ltd (3.58%), Reliance (3.23%), Hindalco (3.20%), JP Associates (2.80%), SBI (2.46%), Herohonda Motors (2.27%), Tata Motors (2.27%), TCS Ltd (2.11%), ONGC Ltd (1.99%), NTPC Ltd (1.90%), Bharti Airtel (1.44%) and Wipro Ltd (1.43%).

Gainers from the BSE Sensex pack are HDFC (1.56%), HDFC Bank (0.44%) and L&T Ltd (0.22%).

Foreign direct investment (FDI ) in India stood at $2.58 billion in June, with rise of 8 per cent as compared with the same month last year, a senior official said. In June 2008, the FDI inflow was $2.39 billion.

On the global markets front the Asian markets that opened before the Indian market, ended with losses with financial and airline stocks weighed on the markets. Shanghai Composite, Hang Seng, Nikkei 225, Singapore''s Straits Times Index and Seoul Composite closed lower by 125.30, 352.04, 80.96, 44.94 and 4.28 points at 2,785.58, 19,954.23, 10,204, 2,522.78 and 1,545.96 respectively.

European markets, which opened after the Indian market, are trading in red, as equities had slid across Asia. In Frankfurt the DAX index is trading lower 68.69 points at 5,182.05 and in London FTSE 100 is trading down by 39.96 points at 4,645.82.

The BSE Oil & Gas index dropped by (2.68%) or 254.71 points at 9,259.60 despite crude oil gained for the first time in three days overnight. Losers are Essar Oil Ltd (4.60%), Reliance (3.23%), RNRL (3.19%), Reliance Petroleum (2.66%) and Gail India (2.31%).

The BSE Metal index closed tumbled (2.33%) or 284.33 points at 11,929.02. Losers are Gujarat NRE C (3.98%), Tata Steel (3.93%), Sesa Goa Ltd (3.30%), Hindalco (3.20%) and JSW Steel (2.98%).

The BSE Auto index lost (2.14%) or 115.48 points at 5,277.76 on worries arising from scanty rains as auto firms derive larger revenue from rural India. Main losers are Bharat Forge (5.59%), Ashok Leyland (3.63%), M&M Ltd (3.58%), Bajaj Auto (3.52%) and Cummins Indi (3.25%).

The BSE Power index tumbled (1.93%) or 55.49 points at 2,812.57 as Reliance Infra (4.86%), Suzlon Energy (3.90%), GMR Infra (3.10%), Siemens Ltd (2.81%) and Crompton Greaves (2.75%) ended in red.

The BSE PSU index closed lower by (1.88%) or 153.87 points at 8,048.22. Losers are Rashtriya Chem & Fert (4.07%), Canara Bank (3.50%), Corporation (3.41%), MRPL (3.30%) and Power Financ (3.08%).

The BSE Realty index ended down by (1.86%) or 69.63 points at 3,680.77 on profit taking. Losers are Unitech Ltd (3.28%), Orbit Co (3.03%), Housing Dev (2.76%), Penland Ltd (2.68%) and Anant Raj (2.42%).

DLF Ltd lost 1.08%. The company is set to bag India''s largest land deal in Gurgaon, Haryana as DLF has emerged as the sole bidder for the 350.71-acre land parcel in Gurgaon put up for auction by a Haryana state corporation. The state corporation has fixed the minimum reserve price as Rs 1,700 crore for the land.

Cairn India dropped by 1.88%. The company and state-owned ONGC will jointly invest $4 billion (Rs 20,000 crore) in an attempt to scale up the production capacity of their oil fields at Barmer in Rajasthan by 25,000 barrels of oil per day (bopd) to two lakh bopd.

Glenmark Pharma tumbled 14.68%. Glenmark Pharmaceuticals S.A. (Switzerland), a subsidiary of the company and Forest Laboratories, Inc announced top-line results from a Phase lib dose range finding study of Oglemilast in patients with Chronic Obstructive Pulmonary Disease (COPD).

Gujarat Industries Power Company Ltd fell 0.46% despite a block deal of five lakh shares was executed on NSE at Rs. 100 per share.

Bharat Forge Ltd plunged 5.59% on profit booking after the stock rose 8.50% in the preceding trading session.

Dish TV surged 1.84% on back of plans to raise funds up to $200 million. As per reports, the company plans to raise $200 million (around Rs 1,000 crore) by way of equity issue in either domestic or international markets.

PSL Ltd ended up by 2.58%. The company has secured an order valued approximately Rs 500 crore from Gail (India) Limited for supplying quality API 5L X-80 grade PSL-2 Pipes for their Dahej-Vijaipur Pipe Line Upgradation Project (DVPL-II).

Markets off the day’s low

The stock markets managed to gain some grounds from the day’s low but are still trading lower. The sharp sell off among the Chinese markets has led to a strong fall in the domestic markets today. All the sectorial indices are trading in red mainly led by the Oil & Gas, Metal, Auto and IT stocks. The broader market indices however managed to recover from the lows and are now trading flat as the BSE Mid Cap index is now trading with a loss of around 0.5% while the BSE Small Cap is now trading in positive.

The BSE Sensex is now trading near the 14900 mark and the NSE Nifty above the 4400 mark in the afternoon trade.

The overall market breadth is negative as 1136 stocks are advancing while 1433 stocks are declining in BSE.

HDFC reported the top gainer from the BSE Sensex pack, as it is now trading higher by (1.85%) at Rs. 2,364.10. While ACC reported the top loser from the BSE Sensex pack, as it is trading down by (3.68%) at Rs.767.65.

At 2.31PM the BSE Sensex is trading lower by 137.68 points at 14,897.58 and the NSE Nifty is trading lower by 40.30 points at 4,418.60.

The BSE Mid Cap decreased by 19.90 points to 5,476.66 and the BSE Small Cap grew by 10.53 points to 6,351.98.

The Metal index is trading lower by 202.21 points or 1.66% at 12,039.21. Scrips that are trading in negative are Tata Steel trading down by 2.87% at Rs. 438.50 followed by Gujarat NRE Coke by 2.56% at Rs. 51.35, Sesa Goa by 2.35% at Rs. 220.35, Jai Corp by 1.71% at Rs. 206.70, JSW Steel by 1.60% at Rs. 698, Ispat Inds by 1.14% at Rs. 21.60.

The most active shares on NSE are Unitech trading at Rs. 82.90 with a total traded quantity of 50522446 shares followed by IFCI trading at Rs. 51.80 with a total traded quantity of 45396942 shares.

Housing Development Finance Corp (HDFC) is trading up by 2.07% at Rs. 2,369. The company plans to mobilize Rs 40 billion through two- and three-year bonds along with the issuing of 10.95 million warrants convertible into shares within three years where the dilution on conversion of all warrants would be 3.5%

PSL Ltd is trading up by 4.82% at Rs. 148. The company has secured an order valued approximately Rs 500 crore from Gail (India) Limited for supplying quality API 5L X-80 grade PSL-2 Pipes for their Dahej-Vijaipur Pipe Line Upgradation Project (DVPL-II).

Glenmark Pharmaceuticals is trading lower by 13.76% at Rs. 225.60. Glenmark Pharmaceuticals S.A. (Switzerland), a subsidiary of Glenmark Pharmaceuticals India (GPL) and Forest Laboratories, Inc announced top-line results from a Phase lib dose range finding study of Oglemilast in patients with Chronic Obstructive Pulmonary Disease (COPD). Once-daily treatment with Oglemilast did not show a statistically meaningful increase from baseline compared to placebo in the primary endpoint trough FEV1, a measure of pulmonary function that is decreased in patients with COPD. Oglemilast was well-tolerated at all doses studied.

On the global markets front, the European markets are now trading lower as the FTSE 100, DAX and CAC 40 index are trading down by (0.93%), (1.34%) and (0.86%) respectively.

Market shrunk on weak global cues

Stock Market plunged after swinging between the positive and negative terrain at the early trade of the trading session led by huge sell-off in Oil&Gas, Realty, Metals and Auto stocks, drifted the bourses towards southward journey. A sustained fall was reported as most of Asian stocks slipped into negative terrain. Scanty monsoon rains pushed India to the edge of drought, forcing pressure on food prices and energy supplies. Meanwhile, India''s merchandise exports soften for the 10th straight month in July 2009, but its balance-of-trade account improved as imports declined at a faster pace, according to the sources.

On the sectoral front, all indices declined. Oil exploration stocks slipped despite crude oil gained for the first time in three days overnight, on better-than-estimated earnings at Home Depot Inc. and Target Corp of US. Auto, Realty and Bank stocks fell on profit taking after recent gains on bargain hunting.

The Market breadth, indicating the overall strength of the market, was weak On BSE, out of 2,576 stocks traded so far, 903 shares advanced while 1,580 shares declined. Nearly 93 shares are unchanged.

At 1.22PM, the BSE Sensex is trading lower by 313.72 points at 14,721.53 whereas NSE Nifty is down by 91.69 points at 4,367.20.

The BSE Mid Cap is trading lower by 81.00 points at 5,415.55 and Small cap is trading down by 55.38 points at 6,286.06.

Major losers from the BSE Sensex Pack are Reliance Infrastructure Ltd plunged 4.20% to Rs. 1,088.00, ACC Ltd by 4.02% to Rs. 765.00, Tata Steel by 3.82% to Rs. 434.20, Grasim Industries Ltd by 3.59% to Rs. 2,481, Reliance Industries Ltd by 3.53% to Rs. 1,877.75, State Bank of India by 3.22% to Rs. 1,678, Reliance Communication Ltd by 3.10% to Rs. 243.45, Mahindra & Mahindra Ltd by 3.04% to Rs. 745, Jaiprakash Associates Ltd by 2.99% to Rs. 206 and Hero Honda Motors Ltd by 2.79% to Rs. 1,351.90.

Major gainers from the BSE Sensex pack are Housing Development Finance Co Ltd by 1.69% to Rs. 2,360.30 and Tata Power Ltd by 0.63% to Rs. 1,270.00.

The BSE Realty is lower by 81.50 points or 2.17% at 3,668.90. Stocks declined include Unitech Ltd 3.40% to Rs. 82.40, Anant Raj Industries 2.98% to Rs. 130.25, Orbitco Ltd by 2.97% to Rs. 168, Housing Development by 2.76% to Rs. 271.25, Penland Ltd 2.55% to Rs. 76.40, Ansal Infra Ltd 2.47% to Rs. 59.25, Parsvnath Ltd by 1.61% to Rs. 110.05 and DLF Ltd 1.43% to Rs. 369.80 among others.

Gujarat Industries Power Company Ltd fell 0.41% to Rs. 98.00 despite a block deal of five lakh shares was executed on NSE at Rs. 100 per share.

PSL Ltd advanced 0.78% to Rs. 142.30 after the company bagged an order worth Rs. 210 crore from GAIL.

Sintex Industries Ltd improved 0.40% to Rs. 198.35 after a block deal of 3.28 lakh shares was executed on BSE at Rs 200 per share.

Bharat Forge Ltd plunged 5.07% to Rs. 218.05 on profit booking after the stock rose 8.50% in the preceding trading session.

Rallis India Ltd gusted up 2.85% to Rs. 750.80 on buzz the Tata Group is considering merging Rallis India with Tata Chemicals.

Mid Session Indian stock Market Commentary

India stock market ended the session with handsome gains backed by significant buying that emerged after Asian markets reversed losses. Higher US index futures also added to sentiments. Market touched the day’s high during afternoon trade mirroring firm European markets though afterwards pared gains a bit. However, monsoon worries continued to remain a key concern as 9 States have declared drought. Meanwhile, Finance Minister Pranab Mukherjee said that government has no proposal to write off loans taken by farmers as it did in 2008 in its first term in office. Further, India’s July export is down 26% from a year earlier. The BSE Sensex ended above 15,000 level and NSE Nifty closed above 4,450 mark.

Market opened on flat note today after reporting heavy selling in previous session. The US stocks markets closed lower on Monday, marking the worst single-session percentage loss in six weeks due to huge selling pressure. Slower-than-expected economic growth in Japan prompted a global sell-off on worries that an economic rebound may be further off than previously considered. Investors were not exciting by the news that the empire state manufacturing index moved into positive territory, signaling growth for the first time since April 2008. Further, Indian benchmark indices bounced back, as investors looked for some bargain chasing after yesterday’s sharp fall. Market touched day’s high during afternoon trade in line with recovery in other Asian stocks along with positive European markets.

Finally, market closed on positive note on account of sustained buying. From the sectoral front, all indices ended in green. Among those, most of the buying was seen in Capital Goods, Realty, Metal, Power, PSU, Auto, Bank, and FMCG stocks. Broader markets also followed the same trend as BSE Midcap and Smallcap stocks gained more than 2% each.

Among the Sensex pack 26 stocks ended in green territory and 4 stocks ended in red territory. The market breadth indicating the overall health of the market remained positive as 1741 stocks closed in red while 896 stocks closed in green and 78 stocks remained unchanged in BSE.

The BSE Sensex closed higher by 250.34 points or (1.69%) at 15,035.26 and NSE Nifty ended up by 71 points or (1.62%) at 4,458.90. BSE Mid Caps and Small Caps closed with gains of 111.04 and 129.74 points at 5,496.55 and 6,341.45 respectively. The BSE Sensex touched intraday high of 15,134.51 and intraday low of 14,740.26.

Gainers from the BSE Sensex pack are Hindalco (6.08%), JP Associates (4.73%), L&T Ltd (4.66%), HUL (3.45%), Tata Steel (3.14%), HDFC (3.06%), DLF Ltd (2.95%), Mahindra & Mahindra Ltd (2.89%), Bharti Airtel (2.87%), BHEL (2.76%), HDFC Bank (2.39%), RCom (2.36%), ICICI Bank (2.10%), Reliance Infra (2.08%), Maruti Suzuki (2.04%), ONGC (1.46%) and SBI (1.21%).

Losers from the BSE Sensex pack are Infosys Tech (0.59%), Grasim Industries (0.35%), TCS Ltd (0.19%), Sun Pharma (0.19%).

India''s exports fell 26% from a year earlier in July, federal Commerce Secretary Rahul Khullar said on Tuesday. The country''s imports during July fell 35%-36% from the same month last year.

On the global markets front the Asian markets that opened before the Indian market, ended with gains. Shanghai Composite, Hang Seng, Nikkei 225, Singapore''s Straits Times Index and Seoul Composite closed higher by 40.25, 169.20, 16.35, 21.74 and 3.18 points at 2,910.88, 20,306.27, 10,284.96, 2,567.72 and 1,550.24 respectively.

European markets, which opened after the Indian market, are trading in green helped by some upbeat German economic data. In Frankfurt the DAX index is trading higher 29.77 points at 5,231.38 and in London FTSE 100 is trading up by 31.39 points at 4,676.40.

The BSE Capital Goods index was at 12,313.50 up by 432.33 points or by (3.64%). The main gainers were Siemens Ltd up by (5.2%), Punj Lloyd up by (4.86%), Larsen & Toubro Ltd. up by (4.66%), Aiaengineer up by (3.98%) and Jyoti Struct up by (3.68%).

The BSE Realty index was at 3,750.40 up by 87.70 points or by (2.39%). The main gainers were Indbul Real up by (5.47%), Housing Dev up by (4.01%), Penland Ltd up by (3.43%), Anant Raj In up by (3.03%) and DLF Ltd up by (2.95%).

The BSE Metal index was at 12,213.25 up by 274.34 points or by (2.3%). The main gainers were Hindalco up by (6.08%), JSW Steel up by (3.8%), Nalco up by (3.55%), Jindal Saw up by (3.48%) and Welsp Guj Sr up by (3.27%).

The BSE Power index was at 2,868.06 up by 59.30 points or by (2.11%). The main gainers were Siemens Ltd up by (5.2%) at Rs.453.95, Suzlon Energy up by (3.57%), Gmr Infrastr up by (3.44%), Crompton Greaves Ltd. up by (3.12%) and BHEL up by (2.76%).

The BSE PSU index was at 8,202.09 up by 144.20 points or by (1.79%). The main gainers were Andhra Bank up by (5.1%) at, Power Finan up by (5%), Corporation up by (4.47%), Contain Corp up by (4.38%) and Mangalore Refineries & Petroch up by (3.81%).

The BSE Auto index was at 5,393.24 up by 89.74 points or by (1.69%). The main gainers were Bharat Forge up by (8.5%), Mahindra & Mahindra Ltd up by (2.89%), Ashok Leylnd up by (2.73%), Escorts Ltd. up by (2.44%) and Apollo Tyre up by (2.3%).

Ahluwalia Contracts India Ltd advanced by 4.13%. The company informed regarding the recent Awards of New Projects worth of Rs 215.06 Crores.

HDFC ended up by 3.06%. The leading mortgage lender has started its Rs 4,300 crore immediate fund raising exercise. The amount to be raised from the issue of NCDs would be about Rs 4,000 crore. Further the company is issuing 1.1 crore warrants, each convertible into one equity share of the company within three years, at a price of Rs 3,000. The stock is now trading higher by (3.12%) at Rs. 2,320.

Bharti Airtel ended higher by 2.87% after telecom major received bids from more than a dozen overseas banks keen to fund its around USD 23-bn merger deal with top South African mobile company MTN.

Nava Bharat Ventures Ltd spurted 7.18% after the Reserve Bank of India raised the foreign portfolio investment limit in the company to 40%.

Moser Baer increased by 1.88%. The company launched new optical Media high-end products in India.

HCL Technologies Ltd. lost 0.85%. The company said that it has been informed by Reader''s Digest Association (RDA) that the latest developments at its end do not affect its relationship and engagement with HCL.

Tata Communications closed lower by 0.56%. The company, together with its supplier, Tyco Telecommunications, a business unit of Tyco Electronics and an industry pioneer in undersea communications technology, today announced that they have completed the installation, testing and commissioning of the TGN-lntra Asia {TGN-IA) Cable System.

Market on a selling spree

After a flat start, the key benchmark indices are continuously trading with negative sentiments on the back of mixed cues from the global market. The frontline stocks are facing resistance at upper level and witnessing profit booking pressure on a regular interval. On a stock specific move, DLF Ltd has emerged as the sole bidder for the 350.71-acre land parcel in Gurgaon put up for auction by Haryana State Corporation. With a reserve price of Rs 1,700 crore, the land deal would be the biggest since March 2008. The stock is currently trading lower by 0.24%. During the last hours’ trading session heavy selling pressure has emerged across Auto, Oil & Gas and Banking counters. Among BSE sectoral indices, Auto, Oil & Gas and Bankex is trading lower by 1.68%, 1.37% and 1.25% respectively, while a moderate buying interest seen across Consumer Durable counter. Overall the market breadth is positive as out of total 2,211 stocks traded in BSE, 1,110 advanced, 1,023 declined and 78 remained unchanged.

At 11:28:26 AM BSE SENSEX was at 14,836.92 down by 198.34 points or by (1.32%) and the NSE Nifty was at 4403.00 down by 55.9 points or by (1.25%). The BSE MIDCAP was at 5,459.27 down by 37.28 points or by (0.68%) and the BSE SMLCAP was at 6,333.85 down by 7.6 points or by (0.12%)

Losers from the BSE Sensex Pack are Hero Honda down by (3.07%) to Rs. 1,348, along with Rel Infra by (2.80%) to Rs. 1,103, Jaiprakash associate by (2.45%) to Rs. 207.15, TCS Ltd by (2.40%) at Rs. 497.50, RIL by (2.38%) at Rs. 1,900 and Tata Steel by (2.31%) at Rs. 441.

Losers from the NSE Nifty Pack are Hero Honda decreased by (2.99%) at Rs. 1,350 along with Reliance infrastructure by (2.44%) at Rs. 1,107.6, Wipro Ltd by (2.12%) at Rs. 489.8, ACC Ltd by (2.04%) at Rs. 781.55, SBI by (1.99%) at Rs. 1,699.85 and Tata Steel by (1.97%) at Rs. 442.8.

BSE AUTO index was at 5,302.56 down by 90.68 points or by (1.68%) The main losers were Bharat Forge down by (5.29%) at Rs.217.55, Cummins Indi down by (4.08%) at Rs.314.25, Herohonda M down by (3.07%) at Rs. 1,348, Mahindra & Mahindra Ltd. down by (2.06%) at Rs.752.5, Bajaj Auto down by (2.03%) at Rs.1,114.8. The main gainers were Apollo Tyre up by (1.75%) at Rs. 40.7, Bosch Ltd up by (0.93%) at Rs.3900, Exide Indus up by (0.65%) at Rs.84.75.

BSE OIL&GAS index was at 9,383.90 down by 130.41 points or by (1.37%) The main losers were Hindustan Petroleum Corp. Ltd. down by (3.08%) at Rs. 358.4, Reliance down by (2.38%) at Rs. 1,900 Essar Oil Ltd. down by (2.19%) at Rs. 131.95, Ril Nat Res down by (2.02%) at Rs. 79.9, Bharat Petroleum Corporation L down by (2%) at Rs. 508. The main gainers were Cairn Ind up by (0.19%) at Rs. 239.4.

Post Session Indian stock Market Commentary

Indian stock market ended the session with handsome gains backed by significant buying that emerged after Asian markets reversed losses. Higher US index futures also added to sentiments. Market touched the day’s high during afternoon trade mirroring firm European markets though afterwards pared gains a bit. However, monsoon worries continued to remain a key concern as 9 States have declared drought. Meanwhile, Finance Minister Pranab Mukherjee said that government has no proposal to write off loans taken by farmers as it did in 2008 in its first term in office. Further, India’s July export is down 26% from a year earlier. The BSE Sensex ended above 15,000 level and NSE Nifty closed above 4,450 mark.

Market opened on flat note today after reporting heavy selling in previous session. The US stocks markets closed lower on Monday, marking the worst single-session percentage loss in six weeks due to huge selling pressure. Slower-than-expected economic growth in Japan prompted a global sell-off on worries that an economic rebound may be further off than previously considered. Investors were not exciting by the news that the empire state manufacturing index moved into positive territory, signaling growth for the first time since April 2008. Further, Indian benchmark indices bounced back, as investors looked for some bargain chasing after yesterday’s sharp fall. Market touched day’s high during afternoon trade in line with recovery in other Asian stocks along with positive European markets.

Finally, market closed on positive note on account of sustained buying. From the sectoral front, all indices ended in green. Among those, most of the buying was seen in Capital Goods, Realty, Metal, Power, PSU, Auto, Bank, and FMCG stocks. Broader markets also followed the same trend as BSE Midcap and Smallcap stocks gained more than 2% each.

Among the Sensex pack 26 stocks ended in green territory and 4 stocks ended in red territory. The market breadth indicating the overall health of the market remained positive as 1741 stocks closed in red while 896 stocks closed in green and 78 stocks remained unchanged in BSE.

The BSE Sensex closed higher by 250.34 points or (1.69%) at 15,035.26 and NSE Nifty ended up by 71 points or (1.62%) at 4,458.90. BSE Mid Caps and Small Caps closed with gains of 111.04 and 129.74 points at 5,496.55 and 6,341.45 respectively. The BSE Sensex touched intraday high of 15,134.51 and intraday low of 14,740.26.

Gainers from the BSE Sensex pack are Hindalco (6.08%), JP Associates (4.73%), L&T Ltd (4.66%), HUL (3.45%), Tata Steel (3.14%), HDFC (3.06%), DLF Ltd (2.95%), Mahindra & Mahindra Ltd (2.89%), Bharti Airtel (2.87%), BHEL (2.76%), HDFC Bank (2.39%), RCom (2.36%), ICICI Bank (2.10%), Reliance Infra (2.08%), Maruti Suzuki (2.04%), ONGC (1.46%) and SBI (1.21%).

Losers from the BSE Sensex pack are Infosys Tech (0.59%), Grasim Industries (0.35%), TCS Ltd (0.19%), Sun Pharma (0.19%).

India''s exports fell 26% from a year earlier in July, federal Commerce Secretary Rahul Khullar said on Tuesday. The country''s imports during July fell 35%-36% from the same month last year.

On the global markets front the Asian markets that opened before the Indian market, ended with gains. Shanghai Composite, Hang Seng, Nikkei 225, Singapore''s Straits Times Index and Seoul Composite closed higher by 40.25, 169.20, 16.35, 21.74 and 3.18 points at 2,910.88, 20,306.27, 10,284.96, 2,567.72 and 1,550.24 respectively.

European markets, which opened after the Indian market, are trading in green helped by some upbeat German economic data. In Frankfurt the DAX index is trading higher 29.77 points at 5,231.38 and in London FTSE 100 is trading up by 31.39 points at 4,676.40.

The BSE Capital Goods index was at 12,313.50 up by 432.33 points or by (3.64%). The main gainers were Siemens Ltd up by (5.2%), Punj Lloyd up by (4.86%), Larsen & Toubro Ltd. up by (4.66%), Aiaengineer up by (3.98%) and Jyoti Struct up by (3.68%).

The BSE Realty index was at 3,750.40 up by 87.70 points or by (2.39%). The main gainers were Indbul Real up by (5.47%), Housing Dev up by (4.01%), Penland Ltd up by (3.43%), Anant Raj In up by (3.03%) and DLF Ltd up by (2.95%).

The BSE Metal index was at 12,213.25 up by 274.34 points or by (2.3%). The main gainers were Hindalco up by (6.08%), JSW Steel up by (3.8%), Nalco up by (3.55%), Jindal Saw up by (3.48%) and Welsp Guj Sr up by (3.27%).

The BSE Power index was at 2,868.06 up by 59.30 points or by (2.11%). The main gainers were Siemens Ltd up by (5.2%) at Rs.453.95, Suzlon Energy up by (3.57%), Gmr Infrastr up by (3.44%), Crompton Greaves Ltd. up by (3.12%) and BHEL up by (2.76%).

The BSE PSU index was at 8,202.09 up by 144.20 points or by (1.79%). The main gainers were Andhra Bank up by (5.1%) at, Power Finan up by (5%), Corporation up by (4.47%), Contain Corp up by (4.38%) and Mangalore Refineries & Petroch up by (3.81%).

The BSE Auto index was at 5,393.24 up by 89.74 points or by (1.69%). The main gainers were Bharat Forge up by (8.5%), Mahindra & Mahindra Ltd up by (2.89%), Ashok Leylnd up by (2.73%), Escorts Ltd. up by (2.44%) and Apollo Tyre up by (2.3%).

Ahluwalia Contracts India Ltd advanced by 4.13%. The company informed regarding the recent Awards of New Projects worth of Rs 215.06 Crores.

HDFC ended up by 3.06%. The leading mortgage lender has started its Rs 4,300 crore immediate fund raising exercise. The amount to be raised from the issue of NCDs would be about Rs 4,000 crore. Further the company is issuing 1.1 crore warrants, each convertible into one equity share of the company within three years, at a price of Rs 3,000. The stock is now trading higher by (3.12%) at Rs. 2,320.

Bharti Airtel ended higher by 2.87% after telecom major received bids from more than a dozen overseas banks keen to fund its around USD 23-bn merger deal with top South African mobile company MTN.

Nava Bharat Ventures Ltd spurted 7.18% after the Reserve Bank of India raised the foreign portfolio investment limit in the company to 40%.

Moser Baer increased by 1.88%. The company launched new optical Media high-end products in India.

HCL Technologies Ltd. lost 0.85%. The company said that it has been informed by Reader''s Digest Association (RDA) that the latest developments at its end do not affect its relationship and engagement with HCL.

Tata Communications closed lower by 0.56%. The company, together with its supplier, Tyco Telecommunications, a business unit of Tyco Electronics and an industry pioneer in undersea communications technology, today announced that they have completed the installation, testing and commissioning of the TGN-lntra Asia {TGN-IA) Cable System.

Market gusted northward on bargain hunting

The indian stock market after opening lower, regained strength on bargain hunting with traders buying out in Realty, Capital Goods and Metals stocks despite heavy losses in Chinese equities, which turned lower amid fears that the summer rally could have over heaped the index too far, too fast. Meanwhile, the monsoon situation remains fragile with the country heading into the worst drought year over the last two decades.

On the sectoral front, all indices inclined. Oil exploration stocks gained as crude oil rose, as the dollar''s decline spurred investors to purchase commodities as an alternative investment. Realty and Bank stocks advanced on bargain hunting after being hammered in recent past.

The Market breadth, indicating the overall strength of the market, was strong On BSE, out of 2,532 stocks traded so far, 1,714 shares advanced while 737 shares declined. Nearly 81 shares are unchanged.

At 1.22PM, the BSE Sensex is trading higher by 289.35 points at 15,074.27 whereas NSE Nifty is up by 82.95 points at 4,470.85.

The BSE Mid Cap is trading higher by 110.51 points at 5,496.03 and Small cap is trading up by 127.80 points at 6,339.51.

Major gainers from the BSE Sensex pack are Hindalco Industries Ltd by 5.59% to Rs. 105.85 along with, Jaiprakash Associates Ltd surged 4.00% to Rs. 210.85, DLF Ltd by 3.92% to Rs. 378.70, Larsen & Toubro Ltd by 3.80% to Rs. 1,465.55, Tata Steel Ltd by 3.78% to Rs. 454.25, HDFC Bank Ltd by 2.97% to Rs. 1,449.00, Hindustan Uniliver Ltd by 2.93% to Rs. 256.75, Maruti Suzuki India Ltd by 2.86% to Rs. 1,313.00, Housing Development Finance Co by 2.78% to Rs. 2,314.80, Reliance Communication Ltd by 2.65% to Rs. 251.95, Mahindra & Mahindra Ltd by 2.52% to Rs. 765.60, Wipro Ltd by 2.44% to Rs. 508.50 and Bharti Airtel Ltd by 2.44% to Rs. 408.90.

Major losers from the BSE Sensex Pack are TCS Ltd plunged 0.61% to Rs. 507.6 and Infosys Technologies Ltd by 0.25% to Rs. 1,978.10.

The BSE Realty is higher by 133.21 points or 3.64% at 3,795.91. Stocks inclined include Phoenix Mills Ltd 5.33% to Rs. 131.50, Indiabulls Realty 4.96% to Rs. 229.50, Ansal Infrastructure Ltd by 4.39% to Rs. 61.85, Housing Development by 4.33% to Rs. 279.80, Penland Ltd 4.22% to Rs. 79.00, DLF Ltd 3.92% to Rs. 378.70, Anant Raj by 3.22% to Rs. 134.50 and Sobha Developers Ltd 3.08% to Rs. 209.45 among others.

Nava Bharat Ventures Ltd spurted 7.17% to Rs. 372.40 after the Reserve Bank of India raised the foreign portfolio investment limit in the company to 40%.

Numeric Power Systems Ltd gusted by 19.99% to Rs. 446.20 after it said its board will meet on 22 August 2009 to consider issue of bonus shares.

MVL Ltd improved 2.40% to Rs. 160.10 after its board approved splitting one share of face value Rs. 10 into five shares of face value Rs. 2 each.

Everonn Systems India Ltd gained 1.42% to Rs. 354.25 after a block deal of 2.94 lakh shares was executed on NSE at Rs. 353 per share.

Kiri Dyes & Chemicals Ltd spurted 5.98% to Rs. 410.25 after the company said it is looking for an overseas acquisition.

Mid Session Indian stock Market Commentary

The indian stock markets gained grounds from the early lows and are now trading at the day’s high as strong buying emerged across the board. The BSE Senex has crossed above the 15000 mark and the NSE Nifty above the 4450 mark in the mid trade. All the sectorial indices are trading in green in the mid trade. The significant amount of buying witnessed among the Realty, Capital Goods, Metal and Banking stocks after sharply beaten down in t he previous session. The broader market indices also remained in limelight as the both the BSE Mid Cap and the BSE Small Cap are now trading with a gain of around 2% each.

Hindalco Industries reported the top gainer from the BSE Sensex pack, as it is trading higher by (5.54%) at Rs.105.80 while TCS reported the top loser trading down by (0.51%) at Rs.508.10.

The overall market breadth is positive as 1583 stocks are advancing while 758 stocks are declining and the 79 stocks remain unchanged on BSE.

At 12.31 pm, BSE Sensex was at 15,036.38 up by 251.46 points and the NSE Nifty was at 4,473.25 up by 85.35 points.

The BSE Mid cap is trading higher by 100.53 points at 5,486.04 and the BSE small Cap grew by 119.88 points to trade at 6,331.59.

HDFC, the leading mortgage lender has started its Rs 4,300 crore immediate fund raising exercise. The amount to be raised from the issue of NCDs would be about Rs 4,000 crore. Further the company is issuing 1.1 crore warrants, each convertible into one equity share of the company within three years, at a price of Rs 3,000. The stock is now trading higher by (3.12%) at Rs. 2,320.

BSE REALTY indexwas at 3,783.29 advanced by 120.59 points or by (3.29%) The main gainers were Phoenix Mill up by (5.73%) at Rs.132, Indbul Real up by (4.69%) at Rs.228.9, Penland Ltd up by (4.16%) at Rs.78.95, Housing Dev up by (3.93%) at Rs.278.75, Ansal Infras up by (3.8%) at Rs.61.5.

BSE METAL index was at 12,240.13 surged by 301.22 points or by (2.52%) The main gainers were Hindalco In up by (5.34%) at Rs.105.6, Welsp Guj Sr up by (3.71%) at Rs.209.6, Jsw Sl up by (3.46%) at Rs.707, Jindal Steel up by (3.37%) at Rs.3010.1, Tata Stl up by (3.06%) at Rs.451.1.

BSE BANKEX index was at 8,123.46 inclined by 175.59 points or by (2.21%) The main gainers were HDFC Bank Lt up by (2.76%) at Rs.1446.1, Allahabad Bank up by (2.68%) at Rs.86.1, ICICI Bank up by (2.67%) at Rs.723.7, Idbi Bank up by (2.41%) at Rs.97.6, Federal Bank up by (2.38%) at Rs.221.1.

BSE CG index was at 12,220.40 surged by 339.23 points or by (2.86%) The main gainers were Punj Lloyd up by (4.86%) at Rs.234.2, Larsen & Toubro Ltd. up by (3.82%) at Rs.1465.8, Elecon Eng C up by (3.35%) at Rs.75.5, Usha Martin up by (3.29%) at Rs.53.45, Siemens Ltd up by (3.27%) at Rs.445.6, The main losers were Thermax Lmtd down by (1.05%) at Rs.399.55.

BSE FMCG index was at 2,492.30 increased by 43.36 points or by (1.77%) The main gainers were Unitd Spr up by (5.15%) at Rs.884.9, United Brew up by (3.52%) at Rs.150.1, Hind Uni Lt up by (2.39%) at Rs.255.4, Ruchi Soya up by (2.21%) at Rs.73.85, Colgate Palm up by (1.49%) at Rs.611.

BSE AUTO index was at 5,408.27 grew by 104.77 points or by (1.98%) The main gainers were Bharat Forge up by (5.48%) at Rs.223.3, Apollo Tyre up by (4.6%) at Rs.40.9, Marutisuzuki up by (2.63%) at Rs.1310.05, Amtek Auto L up by (2.62%) at Rs.139.15, Mahindra & Mahindra Ltd. up by (2.44%) at Rs.765.

BSE CD index was at 3,016.95 increased by 30.75 points or by (1.03%) The main gainers were Videocon Ind up by (3.32%) at Rs.199, Rajesh Expot up by (2.26%) at Rs.43, Gitanjali Gem up by (1.94%) at Rs.110.3.

BSE PSU index was at 8,205.06 advanced by 147.17 points or by (1.83%) The main gainers were Power Finan up by (4.52%) at Rs.218.5, Hindustan Petroleum Corp. Ltd. up by (3.47%) at Rs.370.8, Andhra Bank up by (3.17%) at Rs.88, Nat Alum Co up by (3.03%) at Rs.314.5, Dredg Corp up by (2.96%) at Rs.445.

BSE POWER index was at 2,854.67 rose by 45.91 points or by (1.63%) The main gainers were Siemens Ltd up by (3.27%) at Rs.445.6, Suzlonenergy up by (2.81%) at Rs.87.75, Neyveli Lig up by (2.39%) at Rs.130.5, Rel Infra up by (2.08%) at Rs.1135.75, Bhel up by (2.02%) at Rs.2227.

BSE HC index was at 3,802.82 improved by 18.74 points or by (0.5%) The main gainers were Orchid Chem up by (4.94%) at Rs.104, Dishman Phar up by (3.75%) at Rs.204.5, Glenmark Pha up by (3.43%) at Rs.256.3, Wockhardt Lt up by (2.33%) at Rs.160.55, Sunpha Adv up by (1.95%) at Rs.70.6.

BSE OIL&GAS index was at 9,542.37 jumped by 109.86 points or by (1.16%) The main gainers were Hindustan Petroleum Corp. Ltd. up by (3.47%) at Rs.370.8, Essar Oil Ltd. up by (3.27%) at Rs.134.15, Aban Offsho up by (3.05%) at Rs.1127.6, Cairn Ind up by (3.04%) at Rs.244, Indian Oil up by (2.76%) at Rs.585.

BSE TECk index was at 2,865.50 grew by 28.27 points or by (1%) The main gainers were Rolta Ind up by (6.11%) at Rs.160.6, Mphasis Ltd up by (4.72%) at Rs.517.2, Deccan Chr up by (4.33%) at Rs.96.45, Tanla up by (3.54%) at Rs.52.6, Patni Comput up by (3.5%) at Rs.387.05.

BSE IT index was at 3,874.58 inclined by 6.73 points or by (0.17%) The main gainers were Rolta Ind up by (6.11%) at Rs.160.6, Mphasis Ltd up by (4.72%) at Rs.517.2, Patni Computer up by (3.5%) at Rs.387.05, Tech Mah up by (2.08%) at Rs.822.2, Niit Ltd up by (2.08%) at Rs.66.2.

On the global markets front, the Asian markets are trading higher as the Hang Seng, Shanghai Composite , Nikkei 225, Straits Times and Seoul Composite index are trading up by (1.04%), (1.68%), (0.16%), (0.82%) and (0.21%) respectively.

Market recovers early losses

After a subdued opening, the frontline stocks have bounced back strongly on the major Indian bourses as investors looked for some bargain hunting after yesterday’s terrible fall. On a stock specific move, Bharti Airtel is trading higher by 1.08% after telecom major received bids from more than a dozen overseas banks keen to fund its around USD 23-bn merger deal with top South African mobile company MTN. During the last hours'' trading session, buying interest have been persistent across Realty, Capital Goods (CG) and Metal stocks whereas selling pressure has emerged across Consumer Durable (CD) counter. Among the BSE sectoral indices, Realty, CG and Metal stocks surged by 2.54%, 2% and 1.87% respectively, while the CD index declined by -0.02%. Overall the market breadth is positive as 1,325 stocks are trading in green while 696 stocks are in red

At 11:30 AM BSE SENSEX was at 14,964.85 up by 179.93 points or by (1.22%) and the NSE Nifty was at 4434.55 up by 46.65 points or by 1.06% The BSE MIDCAP was at 5,471.07 up by 85.56 points or by (1.59%)and the BSE SMLCAP was at 6,315.35 up by 103.64 points or by (1.67%)

Gainers from the BSE Sensex Pack are Hindalco Industries up by (3.34%) to Rs. 103.60, along with Jaiprakash Associate by (3.13%) to Rs. 209.10, L&T Ltd by (2.63%) at Rs. 1,449, DLF Ltd by (2.51%) at Rs. 373.55, Mahindra and Mahindra by (2.46%) at Rs. 765.20 and Reliance Communication by (2.26%) at Rs.251.

Gainers from the NSE Nifty Pack are Idea Cellular surged by (3.19%) at Rs. 79.15 along with Hindalco Industries by (3.14%) at Rs. 103.4, Siemens Ltd by (3.12%) at Rs. 445, DLF Ltd by (3.05%) at Rs. 375.5, L&T Ltd by (2.93%) at Rs. 1,454.35 and HUL (2.54%) at Rs. 254.7.

BSE Realty is trading higher by (2.54%) or 92.98 points at 3,755.68. The top gainers in the index are Phoenix mill surged by (6.33%) to Rs. 132.75 along with Penland Ltd by (4.35%) to Rs. 79.10, Indiabul Real by (3.36%) to Rs. 226, followed by Housing Dev by (3.21%) at Rs. 276.80.

BSE CG is trading higher by (2%) or 237.04 points at 12,118.21. The major gainers are Elecon Eng surged by (3.56%) at Rs. 75.65 along with Siemens Ltd by (3.31%) at Rs. 445.80, AIA Eng by (2.85%) at Rs. 236.50 followed by L&T Ltd by (2.63%) at Rs. 1,449.

Indian stock Market Opening, 18/09/2009

The Indian stock markets opened flat today after a sharp sell off in the previous session. However the markets are witnessing a little bit of volatility in the early trade. The Realty, Capital Goods and Consumer Durables stocks edged higher in the opening trade. While, the Pharma and IT stocks are trading with modest losses. The broader market indices also trading with modest gain as both the BSE Mid Cap and the BSE Small Cap index are now trading with a gain of around 0.5% each.

The BSE Sensex is now trading near the 15800 mark and the NSE Nifty above the 4400 mark in the early trade.

At 10.32 IST, the BSE Sensex is trading marginally up by 12.13 points or (0.08%) at 14,797.05 and the NSE Nifty is trading marginally higher by 4.85 points or (0.11%) at 4,392.75.

The BSE Mid Cap is trading higher by 28.56 points at 5,414.07 and the BSE Small Cap grew by 29.06 points or (0.47%) to 6,240.77.

HUL reported the top gainer from the BSE Sensex pack, as it is trading up by (1.52%) at Rs.253.25 while Tata Motors reported the top loser trading down by (2.44%) at Rs. 425.

The Overall market breadth is negative as 870 stocks are advancing while 794 stocks are declining and the 54 stocks remained unchanged on BSE.

The US stocks markets closed lower on Monday, marking the worst single-session percentage loss in six weeks due to huge selling pressure. Profit booking also prevailed, as slower-than-expected economic growth in Japan prompted a global sell-off on worries that an economic rebound may be further off than previously considered. Investors were not exciting by the news that the empire state manufacturing index moved into positive territory, signaling growth for the first time since April 2008. The Dow Jones Industrial Average (DJIA) ended down by 186.06 points at 9,135.34, NASDAQ index declined by 54.68 points to 1,930.84 and the S&P 500 (SPX) closed lower by 24.36 points at 979.73.

Asian markets were trading down today as the Hang Seng, Nikkei 225, Straits Times and Seoul Composite index are trading lower by (0.31%), (0.54%), (0.02%) and (0.79%) respectively.

BSE Realty index advanced by 62.05 points or (1.69%) at 3,724.75. The top gainers are Phoenix Mil grew by (4.12%) to Rs.130, Penland inclined by (2.90%) to Rs.78, Ansal Infra grew by (1.86%) to Rs. 60.35 followed by Mahindra Life increased by (1.67%) to Rs.303.90.

BSE IT index fell by 22.95 points or (0.59%) at 3,844.90. The top losers are Patni Computer fell by (2.77%) to Rs.384.30, TCS declined by (1.12%) to Rs.505, Financial Technologies decreased by (0.65%) to Rs.1,454.30 followed by Infosys Technologies down by (0.50%) to Rs.1,973.15.

HDFC, the leading mortgage lender has started its Rs 4,300 crore immediate fund raising exercise. The amount to be raised from the issue of NCDs would be about Rs 4,000 crore. Further the company is issuing 1.1 crore warrants, each convertible into one equity share of the company within three years, at a price of Rs 3,000. The stock is now trading marginally lower by (0.75%) at Rs. 2,233.

Pre Session Indian stock Market Commentary, 18/08/2009

Today indian stock market are likely to open negative as the US markets closed in negative territory after the disappointment over the Japanese economy which showed lower than expected growth of 0.9% during the second quarter. The sentiments across Asia are weak and therefore in the domestic market one could witness another day of selling pressure. During the day the domestic markets are likely to trade range bound with negative bias.

On Monday, Domestic markets closed with heavy losses. The domestic market today nosedived deep into red terrain on huge selling pressure over the ground as unsatisfactory US consumer sentiment report weakened concerns about the recovery in global economy. Market closed near day’s low tracking negative European markets. In addition, weak Asian markets along with lower US index futures also took huge beating on the bourses. Meanwhile, benchmark indices also exhibited weakness on monsoon worries as the country is going towards the worst drought year over the last two decades. The BSE Sensex ended below 14,800 level and NSE Nifty closed below 4,400 mark. During final trading hours, market slipped sharply and widened its negative gap to end the day with huge losses on intense selling pressure over the stocks. From the sectoral front, investors offloaded positions across the sectors. Besides, Realty, Metal, Auto, Oil & Gas, Bank, Capital Goods, FMCG and Consumer Durables stocks contributed to most of the selling pressure. Broader markets also supported the negative sentiments as BSE Midcap and Smallcap stocks lost more than 3% each.

The BSE Sensex closed lower by 626.71 points or (4.07%) at 14,784.92 and NSE Nifty ended down by 24.95 points at 4,580.05. BSE Mid Caps and Small Caps closed with losses of 218.30 and 200.85 points at 5,385.51 and 6,211.71 respectively. The BSE Sensex touched intraday high of 15,284.23 and intraday low of 14,740.63.

On Monday, US stock markets closed lower. Profit taking in the wake of slower-than-expected economic growth in Japan triggered a global sell-off that sent stocks below their recent trading ranges and handed the major U.S. indices their worst single-session percentage loss in six weeks. With stocks looking overextended in the near term, overseas participants moved against stocks upon learning that Japan''s economy expanded at a slower-than-expected rate of 0.9% in the second quarter. In turn, Japan''s Nikkei shed 3.1%, while several other major Asian averages also finished with losses exceeding 3%. US light crude oil futures for September delivery closed at $66.75 per barrel lower by 1.1% on the New York Mercantile Exchange.

The Dow Jones Industrial Average (DJIA) closed lower by 186.06 points at 9,135.34, NASDAQ index declined by 54.68 points to 1,930.84 and the S&P 500 (SPX) closed lower by 24.36 points at 979.73.

Today major stock markets in Asia are trading negative. Japan''s Nikkei is trading down by 21.42 points at 10,247.19 followed by Hang Seng which is trading lower by 155.59 points at 19,982.155.59, and Taiwan Weighted is trading also trading lower by 132.77 points at 6,843.27.

Indian ADRs plunged on Monday. In the IT space, Satyam Computers was down 6.36%, Patni Computers was down 5.77%, Wipro was down 4.8% and Infosys was down 3.13%. In the banking space, ICICI Bank was down 6.82% and HDFC Bank was down 2.75%. In the telecom space, Tata Communication was down 6.12% and MTNL was down 4.8%. In other sectors, Sterlite Industries was down 8.63%, Tata Motors was down 7.63% and Dr Reddy''s Labs was down 5.04%.

The FIIs on Monday stood as net buyers in equity and net sellers in debt. Gross equity purchased stood at Rs 2,639.90 Crore and gross debt purchased stood at Rs 447.60 Crore while the gross equity sold stood at Rs 1,609.20 Crore and gross debt sold stood at Rs 821.00 Crore. Therefore, the net investment of equity reported was Rs 1,030.70 Crore and net debt was Rs (373.40) Crore.

On Monday, the partially convertible rupee ended at 48.95/96 per dollar, 1.47% weaker than previous close at 48.24/25. Rupee lost the strength against the dollar on the back of huge selling pressure in the local stock markets that led to huge losses in benchmark indices raising further concerns of greenback inflow.

On BSE, total number of shares traded were 37.72 Crore and total turnover stood at Rs 4,977.50 Crore. On NSE, total number of shares traded were 83.57 Crore and total turnover was Rs 15,425.56 Crore.

Top traded volumes on NSE Nifty – Suzlon Energy with total volume traded 60045516 shares, followed by Unitech with 48357785, DLF with 10765817, Tata Steel with 9396975 and Idea Cellular with 8828467 shares.

On NSE Future and Options, total number of contracts traded in index futures was 787408 with a total turnover of Rs 16,578.8 Crore. Along with this total number of contracts traded in stock futures were 526933 with a total turnover of Rs 16,261.97 crore. Total numbers of contracts for index options were 1596210 with a total turnover of Rs 36,217.85 Crore and total numbers of contracts for stock options were 60574 and notional turnover was Rs 1,924.57 Crore.

Today, Nifty would have a support at 4,491 and resistance at 4,596 and BSE Sensex has support at 14,536 and resistance at 14,896.

Raw jute prices witnesses fall

Raw jute prices in the domestic market, witnessed fall of 40 per cent to reach around Rs 18,000 a tonne this month.

The steep fall in raw jute prices has been seen amid concerns of a possible 25 per cent dilution in Jute Packaging Materials Act (JPMA) of 1987. JPMA provided 100 per cent reservation for jute bags in packaging of food grains and sugar procured by the government.

The Centre''s Standing Advisory Committee chaired by the Union textiles secretary recommended the 25 per cent dilution in JPMA. The matter was expected to be taken up for discussion by the Cabinet Committee on Economic Affairs (CCEA). The sharp fall in raw jute prices has also been attributed to the sugar industry''s move to refrain from procuring jute bags, on the feedback that the Union textiles ministry is bent on 25 per cent dilution.

Spot rubber turns weak

On Monday, the spot rubber rates turned weak. A bearish mood in the domestic and international rubber futures weighed on the sentiments during the day. Sheet rubber dropped to Rs 102 (102.50) a kg on buyer resistance The trend was mixed as ISNR 20 and Latex 60 per cent finished flat with dull volumes

The September futures for RSS 4 ended at Rs 102.21 (104), October at Rs 101.10 (102.16), November at Rs 99.80 (101.09) and December at Rs 100.89 a kg on National Multi Commodity Exchange (NMCE). RSS 3 declined sharply at its August futures to Yen 195.2 (Yen 204.5) (Rs 101.10), September to Yen 189.2 (Yen 200.6), October to Yen 188.3 (Yen 201.2), November to Yen 190.9 (Yen 203.2), December to Yen 193.2 (Yen 205.5) and January to Yen 195.6 (Yen 208.1) a kg during the day session on TOCOM. The September futures for the grade finished at Yen 187.1, October at Yen 187, November at Yen 189.2, December at Yen 191.4 and January at Yen 193.5 a kg while the August futures remained inactive during the night session. RSS 3 slipped to Rs 99.42 (101.12) a kg on Singapore Commodity Exchange (SICOM). The grade (spot) improved to Rs 100.49 (100.08) a kg at Bangkok.

Spot rates were (Rs/kg): RSS-4: 102 (102.50); RSS-5: 100 (100.50); ungraded: 98 (99); ISNR 20: 94.50 (94.50) and latex 60 per cent: 79 (79).

Cardamom prices went up

Cardamom prices went up at the auctions held in Kerala and Tamil Nadu on the squeeze in supply due to poor early crop and a strong demand in view of the ensuing festival season.

The average price increased to Rs 717 a kg at the Sunday auction held by KCPMC, Kumily, from Rs 697 at the Tuesday morning auction.

However, at the first auction of the CPA, which began on Monday at Bodinayakkanur, the average fell to Rs 698.67 a kg because of the inferior quality material. The arrivals were 17 tonnes of which 15 tonnes were sold out.

The buyers were aggressive due to the ensuing festival season and squeeze in availability. Exporters were also active in view of the Ramzan season beginning on September 22.

Pepper futures end higher

On Monday, the pepper futures market witnessed high volatility and went up at the end on reports that enquiries started floating from overseas buyers following tight supply position in other origins and rise in prices.

The tight supply position is emerging in all the origins as buyers in the major consuming markets, who did not cover earlier, have returned to the market from their summer vacation.

There were no sellers for spot. August contract on the NCDEX increased by Rs 271 to close at Rs 14,725 a quintal. September and October contract increased by Rs 290 and Rs 270 respectively to close at Rs 15,088 and Rs 15,283 a quintal. Total turnover dropped by 480 tonnes to close at 9,143 tonnes. Total open interest moved up by 82 tonnes to 9,601 tonnes. August open interest fell by 172 tonnes.

Post Session Indian stock Market Commentary, 17/08/2009

The stock market today nosedived deep into red terrain on huge selling pressure over the ground as unsatisfactory US consumer sentiment report weakened concerns about the recovery in global economy. Market closed near day’s low tracking negative European markets. In addition, weak Asian markets along with lower US index futures also took huge beating on the bourses. Meanwhile, benchmark indices also exhibited weakness on monsoon worries as the country is going towards the worst drought year over the last two decades. The BSE Sensex ended below 14,800 level and NSE Nifty closed below 4,400 mark.

Market extended its previous session’s losses as opened in negative mirroring unfavorable global markets. The Asian stocks were in deep red today and US stocks markets closed lower on Friday, backed by the August consumer sentiment survey. A disappointing report on consumer sentiment sent the benchmark indices in the red as revealed that sentiment unpredictably declined to 63.2, the lowest level since March. Further, Indian benchmark indices continued to extend losses as selling emerged across the counters. There was not a single hope of recovery during the trading on weak sentiments led by losses in Asian and US stocks. During final trading hours, market slipped sharply and widened its negative gap to end the day with huge losses on intense selling pressure over the stocks. From the sectoral front, investors offloaded positions across the sectors. Besides, Realty, Metal, Auto, Oil & Gas, Bank, Capital Goods, FMCG and Consumer Durables stocks contributed to most of the selling pressure. Broader markets also supported the negative sentiments as BSE Midcap and Smallcap stocks lost more than 3% each.

Among the Sensex pack all 30 stocks ended in red territory. The market breadth indicating the overall health of the market remained negative as 1929 stocks closed in red while 674 stocks closed in green and 73 stocks remained unchanged in BSE.

The BSE Sensex closed lower by 626.71 points or (4.07%) at 14,784.92 and NSE Nifty ended down by 24.95 points at 4,580.05. BSE Mid Caps and Small Caps closed with losses of 218.30 and 200.85 points at 5,385.51 and 6,211.71 respectively. The BSE Sensex touched intraday high of 15,284.23 and intraday low of 14,740.63.

Losers from the BSE Sensex pack are DLF Ltd (7.75%), Hindalco (7.35%), Tata Steel (6.82%), Sterlite Industries (6.69%), Tata Motors (6.67%), JP Associates (6.31%), Reliance Infra (6.15%), Herohonda Motors (5.92%), ITC Ltd (5.56%), M&M Ltd (5.31%), ICICI Bank (5.28%), Maruti Suzuki (5.18%), RCom (5.07%), L&T Ltd (5.00%), ACC Ltd (4.84%), ACCL Ltd (4.69%), Reliance (4.66%), ONGC Ltd (4.59%), Sun Pharma (3.39%) and Infosys Tech (2.78%).

On the global markets front the Asian markets that opened before the Indian market, ended in deep red. Shanghai Composite, Hang Seng, Nikkei 225, Singapore''s Straits Times Index and Seoul Composite closed lower by 176.34, 756.26, 328.72, 85.53 and 44.35 points at 2,870.63, 20,137.07, 10,268.61, 2,545.98 and 1,547.06 respectively. Chinese stocks plunged to their lowest level on renewed worries over the economic outlook and government policy. However, Japan’s economy made a sharp turnaround in the second quarter (April-June) as it expanded at an annual pace of 3.7% on a strong rebound in exports. Exports grew 6.3% from the previous quarter, the highest growth since the second quarter of 2002 though it failed to produce a positive revelation.

European markets, which opened after the Indian market, are trading in red tracking Wall Street losses overnight. In Frankfurt the DAX index is trading lower 97.90 points at 5,211.21 and in London FTSE 100 is trading down by 79.28 points at 4,634.39.

The BSE Realty index lost (7.58%) or 300.36 points at 3,662.70 on profit taking. Losers are Pheonix Mill (12.69%), Housing Dev (9.19%), Parsvnath (8.02%), DLF Ltd (7.75%) and Unitech Ltd (7.70%).

The BSE Metal index closed tumbled (6.15%) or 781.93 points at 11,938.91 after LMEX, a gauge of six metals traded on the London Metal Exchange, fell 3.05% last Friday. Losers are Hindalco (7.35%), JSW Steel (7.08%), Tata Steel (6.82%), Sterlite Industries (6.69%) and Jindal Steel (6.66%).

The BSE Auto index lost (4.77%) or 265.72 points at 5,303.50 on worries arising from scanty rains as auto firms derive larger revenue from rural India. Main losers are Tata Motors (6.67%), Bharat Forge (6.45%), Apollo Tyre (6.12%), Herohonda Motors (5.92%) and M&M Ltd (5.31%).

The BSE Oil & Gas index dropped by (4.42%) or 436.70 points at 9,432.51 oil prices extended losses. Losers are Aban Offshore (6.69%), Essar Oil Ltd (5.97%), Cairn Ind (4.98%), RNRL (4.91%) and Reliance Petroleum (4.68%).

The BSE Bank index dropped by (4.42%) or 436.70 points at 7,947.87. Scrips that lost are Kotal Bank (7.30%), IDBI Bank (5.55%), ICICI Bank (5.28%), Canara Bank (5.13%) and SBI (4.69%).

The BSE FMCG index ended down by (4.07%) or 103.86 points at 2,448.94 as United Spr (6.05%), ITC Ltd (5.56%), United Brew (4.95%), Tata Tea (4.60%) and Godrej Cons (4.43%) ended in red.

Bank of Baroda lost 3.21%. The bank revealed that it is likely to start life insurance venture with the UK-based Legal and General Group is expected in the next seven months.

Krypton Industries Ltd ended lower by 2.28%. The company has informed that the Board of Directors of the Company at its meeting held on August 14, 2009 took a decision to raise an Amount not exceeding Rs 11 Crore by issue of shares on right basis at such price as may be decided later by board.

LIC Housing Finance closed down by 3.66%. With effect from August 1, LIC Housing Finance cut interest rates for new loans by 0.5% where for customers opting for floating rate loans between Rs 30 lakh and Rs 75 lakh, the new rates will be 8.755 against 9.25%.
Berger Paints (India) Ltd fell 4.28% despite its board approved issuing 72 lakh shares of a face value of Rs 2 each to Nalanda India Fund.

Provogue India Ltd lost 3.14% after its board approved spending Rs. 50 crore to buy back 50 lakh shares at up to Rs 100 each.

KSK Energy Ventures Ltd tumbled 4.29%. The company said it will seek shareholders approval to raise as much as Rs 2000 crore by selling preferential shares.

Hindalco Industries ended down by 7.39%. The company has closed the Rogerstone (UK) operations of its Canadian subsidiary, resulting in 400 job losses. The plant was in deep trouble like Corus'' Teesside cast outfit, so nobody protested against the closure, said sources in the know.

Sensex slips below the 15000 mark

The stock markets continued their downward momentum and are now trading near the day’s low as strong selling pressure continued across the board. Further the negative European markets also turned the sentiments. The BSE Sensex has slipped below the 15000 mark and the NSE Nifty below the 4450 mark in the afternoon trade. The Realty, Metal, Auto, Banking and Oil & Gas stocks stocks continued o remain under pressure. The broader market indices are also witnessing the selling heat as the BSE Mid Cap is now trading with a cut of more than 2% and the BSE small Cap indices with a loss of more than 1%.

The overall market breadth is negative as 788 stocks are advancing while 1722 stocks are declining in BSE.

There were no gainers from the BSE Sensex pack in the afternoon trade. However, DLF reported the top loser from the BSE Sensex pack, as it is trading down by (6.96%) at Rs.367.50 followed by Tata Steel trading down by (5.61%) at Rs. 443.40.

At 2.31PM the BSE Sensex is trading lower by 496.01 points at 14,915.62 and the NSE Nifty is trading lower by 155.75 points at 4,424.30.

The BSE Mid Cap decreased by 155.39 points to 5,448.42 and the BSE Small Cap fell by 120.78 points to 6,291.78.

The Realty index is trading with deep cut of 257.12 points or 6.49% at 3,705.94. Losers from this pack are Phoenix Mill trading lower by 9.09% at Rs. 130 followed by HDIL by 7.77% at Rs.272.40, DLF by 7.01% at Rs. 367.30, Parsvnath by 6.35% at Rs. 112.15, Indiabull Real by 6.24% at Rs. 221.80, Unitech by 6.03% at Rs. 87.25, Orbitco by 5% at Rs. 179.65, Sobha Dev by 4.70% at Rs. 207 and Anant Raj In by 3.71% at Rs. 132.30.

The Metal index is trading with losses of 604.60 points or 4.75% at 12,116.24. The main losers are JSW Steel trading down by 5.91% at Rs. 692 along with Tata Steel by 5.89% at Rs. 442.10, Sterlite Inds by 5.46% at Rs. 626.20, Hindalco Inds by 5.08% at Rs. 102.70, Jindal Steel by 5.05% at Rs. 2,962, Ispat Inds by 4.62% at Rs. 21.70 and Jai Corp by 4.36% at Rs. 209.40.

The most active shares on NSE are Suzlon Energy trading at Rs. 86.75 with a total traded quantity of 46912527 shares followed by Unitech trading at Rs. 86.20 with a total traded quantity of 34007008 shares.

Krypton Industries Ltd is trading lower by 2.28% at Rs. 32.20. The company has informed that the Board of Directors of the Company at its meeting held on August 14, 2009 took a decision to raise an Amount not exceeding Rs 11 Crore by issue of shares on right basis at such price as may be decided later by board.

LIC Housing Finance is trading down by 2.23% at Rs. 602. With effect from August 1, LIC Housing Finance cut interest rates for new loans by 0.5% where for customers opting for floating rate loans between Rs 30 lakh and Rs 75 lakh, the new rates will be 8.755 against 9.25%
On the global markets front, the European markets are now trading lower as the FTSE 100, DAX and CAC 40 index are trading down by (1.48%), (1.70%) and (2.17%) respectively.

Market continued its downtrend Date :Aug-17-2009 13:32

After a gap down opening, the key benchmark indices continued its downtrend on the back of sharp drop in Asian stocks led by around 5% fall in Chinese stocks and an unexpected decline in a U.S. consumer confidence index that raised concern about the strength of a revival in global outlook. Back home, worries of poor progress of India''s annual monsoon rains further ruined sentiment.

On the sectoral front, all indices declined. Oil exploration stocks drifted down as oil prices extended losses. Metal shares fell after LMEX, a gauge of six metals traded on the London Metal Exchange, fell 3.05% last Friday. Auto stocks slipped on concerns arising from scanty rains as auto firms derive substantial revenue from rural India. Construction, capital goods and cement shares fell on profit booking after recent gains.

The Market breadth, indicating the overall strength of the market, was weak On BSE, out of 2,510 stocks traded so far, 796 shares advanced while 1,637 shares declined. Nearly 77 shares are unchanged.

At 1.30PM, the BSE Sensex is trading lower by 432.30 points at 14,979.33 whereas NSE Nifty is down by 135.94 points at 4,444.10.

The BSE Mid Cap is trading lower by 133.64 points at 5,470.17 and Small cap is trading down by 93.52 points at 6,319.04.

Major losers from the BSE Sensex Pack are Hero Honda Motors Ltd plunged 5.22% to Rs. 1,401, Tata Steel Ltd 4.58% to Rs. 448.25, DLF Ltd plunged 4.42% to Rs. 377.55, Sterlite Industries Ltd 4.36% to Rs. 633.50, Hindalco Industries Ltd by 4.34% to Rs. 103.5, Tata Motors Ltd by 4.10% to Rs. 447.65, ACC Ltd by 3.88% to Rs. 798.05, ICICI Bank Ltd by 3.65% to Rs. 717, Mahindra & Mahindra Ltd by 3.49% to Rs. 761.20, Reliance Infrastructure Ltd by 3.46% to Rs. 1,144.5 and Jaiprakash Associates Ltd by 3.42% to Rs. 209.

Lone gainer from the BSE Sensex pack was BHEL that gained 0.37% to Rs. 2,209.35.

The BSE Realty is lower by 184.27 points or 4.65% at 3,778.79. Stocks plunged are Phoenix Mills Ltd 7.17% to Rs. 132.75, Indiabulls Realty 5.52% to Rs. 223.50, Unitech Ltd 5.06% to Rs. 88.15, Orbitco Ltd 5% to Rs. 179.65, Housing Development by 4.86% to Rs. 281 and Parsvnath 4.80% to Rs. 114 among others.

Berger Paints (India) Ltd fell 0.73% to Rs. 47.50 despite its board approved issuing 72 lakh shares of a face value of Rs 2 each to Nalanda India Fund.

Provogue India Ltd gained 1.46% to Rs. 66.15 after its board approved spending Rs. 50 crore to buy back 50 lakh shares at up to Rs 100 each.

KSK Energy Ventures Ltd climbed 1.19% to Rs. 182.80 after it said it will seek shareholders approval to raise as much as Rs 2000 crore by selling preferential shares.

The stock markets lost further grounds and with the BSE Sensex trading near the 15000 mark. The sharp sell off across the Asian markets also turned down the sentiments today. The Chinese market was down 5%. All the sectorial indices are trading in red today. The Realty, Meta, Auto, Banking and Oil & Gas stocks remained in pressure today. The broader market indices also remained in pressure as the BSE Mid Cap is now trading with a cut of more than 2% each and the BSE Small Cap with a loss of more than 1%.. The BSE Sensex is now trading below the 15050 mark and the NSE Nifty below the 4500 mark.

BHEL reported the top gainer from the BSE Sensex pack, as it is trading higher by (0.55%) at Rs.2,213.50 while Hero Honda reported the top loser trading down by (5.22%) at Rs.1,401.

The overall market breadth is negative as 815 stocks are advancing while 1539 stocks are declining and the 67 stocks remain unchanged on BSE.

At 12.31 pm, BSE Sensex was at 15,016.70 down by 395.56 points and the NSE Nifty was at 4,456.35 down by 123.70 points.

The BSE Mid cap is trading lower by 116.23 points at 5,487.58 and the BSE small Cap fell by 70.36 points to trade at 6,342.20.

BSE REALTY indexwas at 3,783.28 down by 179.78 points or by (4.54%) The main losers were Penland Ltd down by (-0.83%) at Rs.78, Anant Raj In down by (1.42%) at Rs.135.45, Ansal Infras down by (1.58%) at Rs.62.45, Sobha Dev down by (2.28%) at Rs.212.25, Omaxe Ltd down by (2.69%) at Rs.101.35.

BSE METAL index was at 12,190.18 down by 530.66 points or by (4.17%) The main losers were Nmdc Ltd down by (0.99%) at Rs.361, Jindal Saw down by (1.44%) at Rs.553, Nat Alum Co down by (1.82%) at Rs.311, Hind.Zinc down by (2.84%) at Rs.709.1, Welsp Guj Sr down by (2.94%) at Rs.210,

BSE BANKEX index was at 8,063.03 down by 222.96 points or by (2.69%) The main losers were Federal Bank down by (0.18%) at Rs.225.5, Indus Ind Bk down by (0.84%) at Rs.94.8, Allahabad Bk down by (1.17%) at Rs.84.5, Bank Of India down by (1.19%) at Rs.315.6, Hdfc Bank Lt down by (1.37%) at Rs.1407.25,

BSE CG index was at 12,119.89 down by 227.51 points or by (1.84%) The main losers were Suzlonenergy down by (0.57%) at Rs.87.75, Thermax Lmtd down by (0.82%) at Rs.404.9, Jyoti Struct down by (1.27%) at Rs.136, Abb Ltd down by (1.53%) at Rs.667.55, Crompton Greaves Ltd. down by (1.54%) at Rs.277.95.

BSE FMCG index was at 2,492.37 down by 60.43 points or by (2.37%) The main losers were Ruchi Soya down by (0.87%) at Rs.73.65, Tata Tea Ltd down by (1.43%) at Rs.922.15, Britania In down by (1.84%) at Rs.1688, Godrej Cons down by (1.95%) at Rs.218.95, Hind Uni Lt down by (1.99%) at Rs.251.35.

BSE AUTO index was at 5,377.54 down by 191.68 points or by (3.44%) The main losers were Bosch Ltd down by (0.26%) at Rs.3890, Amtek Auto L down by (2.67%) at Rs.134.8, Marutisuzuki down by (2.99%) at Rs.1306, Ashok Leylnd down by (3.27%) at Rs.35.5, Bajaj Auto down by (3.48%) at Rs.1081.8.

BSE CD index was at 3,076.33 down by 27.84 points or by (0.9%) The main losers were Blue Star L down by (0.63%) at Rs.340, Gitanjali Ge* down by (1.02%) at Rs.111.7, Rajesh Expot down by (3.05%) at Rs.42.9, Videocon Ind down by (3.52%) at Rs.201.7.

BSE PSU index was at 8,198.79 down by 126.36 points or by (1.52%) The main losers were Ntpc Ltd down by (0.39%) at Rs.205.4, Engineers In down by (0.57%) at Rs.1000.45, Shipping Cor down by (0.93%) at Rs.128, Nmdc Ltd down by (0.99%) at Rs.361, Andhra Bank down by (1.21%) at Rs.86.

BSE POWER index was at 2,862.20 down by 34.73 points or by (1.2%) The main losers were Tata Power down by (0.36%) at Rs.1278.8, Ntpc Ltd down by (0.39%) at Rs.205.4, Suzlon energy down by (0.51%) at Rs.87.8, Tornt Power down by (1.07%) at Rs.241.1, Abb Ltd down by (1.53%) at Rs.667.55, The main gainers were Bhel up by (0.66%) at Rs.2215.8,

BSE HC index was at 3,830.02 down by 56.05 points or by (1.44%) The main losers were Glaxosmith down by (-0.05%) at Rs.1433, Bilcare Lt down by (-0.09%) at Rs.399.55, Aurobindo Ph down by (0.36%) at Rs.660.65, Apollo Hos E down by (0.54%) at Rs.535, Dr.Reddys Laboratories Ltd. down by (0.64%) at Rs.795.95.

BSE OIL&GAS index was at 9,622.45 down by 246.76 points or by (2.5%) The main losers were ONGC down by (2.14%) at Rs.1194.1, Gail India down by (2.57%) at Rs.333.55, Rel Pet down by (2.58%) at Rs.122.8, Reliance down by (2.76%) at Rs.1978.1, Ril Nat Res down by (3.03%) at Rs.80.05.

BSE TECk index was at 2,860.40 down by 60.42 points or by (2.07%) The main losers were Iol Net Com down by (0.17%) at Rs.29.5, Idea Cell down by (0.32%) at Rs.77.8, Oracle Fin down by (0.5%) at Rs.1530.05, Gtl Limited down by (0.57%) at Rs.298.1, Aptech Ltd down by (0.84%) at Rs.212.9.

BSE IT index was at 3,892.01 down by 85.72 points or by (2.15%) The main losers were Oracle Fin down by (0.5%) at Rs.1530.05, Aptech Ltd down by (0.84%) at Rs.212.9, Wipro Ltd. down by (1.23%) at Rs.503.9, Tech Mah down by (1.39%) at Rs.831.5, Tcs Ltd down by (2.23%) at Rs.509.


On the global markets front, the Asian markets are trading lower as the Hang Seng, Shanghai Composite , Nikkei 225, Straits Times and Seoul Composite index are trading down by (3.36%), (5.72%), (3.10%), (1.91%) and (2.79%) respectively. Japan''s economy made a sharp turnaround in the second quarter (April-June) as it expanded at an annual pace of 3.7% on a strong rebound in exports. Exports grew 6.3% from the previous quarter, the highest growth since the second quarter of 2002.

Market tanks due to global cues

After a gap down opening, the benchmark indices are continuously trading with weak sentiments on the back of losses in Asian and US stock markets. Selling pressure has emerged across the board with frontline stocks leading the laggards list. On a stock specific move, Religare Enterprises is trading higher by 1.89% after it submitted a non-indicative bid to buy the Asian private banking assets of Dutch insurance and banking major ING Bank. During the last hours’ dull session, selling interest emerged across Realty, Metal and Auto counters. Among BSE sectoral indices, Realty, Metal and Auto dipped by 3.4%, 3.10% and 2.76% respectively. Overall market breadth is negative as out of total 2,165 stocks traded in the BSE, 1,303 stocks declined, 805 stocks advanced while 57 remain unchanged.

At 11.30 AM, the BSE Sensex is down by 326.62 points at 15,085.01 while NSE Nifty declined by 101.15 points at 4,478.9. Besides, the BSE Mid Cap and Small Cap are trading lower by 64.14 points and 18.38 points at 5,539.67 and 6,394.18 respectively.

Losers from the BSE Sensex Pack are Hero Honda Motors declined by (5.65%) to Rs. 1,394.7, along with Jaiprakash Associate by (3.95%) to Rs. 207.85, Mahindra and Mahindra Ltd by (3.66%) to Rs. 759.85, Sterlite Industries by (3.40%) at Rs. 639.8, DLF Ltd by (3.28%) at Rs. 382.05, and ICICI Bank by (3.26%) at Rs. 719.90.

Losers from the NSE Nifty Pack are Hero Honda Motors decreased by (5.44%) at Rs. 1,397.7, along with Unitech Ltd by (4.68%) at Rs. 88.6, Jindal Steel and power by (4.02%) at Rs. 2,994.65, Reliance Capital Ltd by (3.93%) at Rs. 822.2, Mahindra and Mahindra Ltd by (3.65%) at Rs. 761.25 and Hindalco Industries by (3.60%) at Rs. 104.45.

BSE Realty is trading lower by (3.40%) or 134.92 points at 3,828.14. The top losers in the index are Orbit corp declined by (5%) to Rs. 179.65 along with Phoenix Mill by (4.79%) to Rs. 136.15, Unitech Ltd by (4.63%) to 88.55, Parsvnath Dev by (4.05%) to Rs. 114.9, followed by Indiabul Real by (3.53%) to Rs. 228.2.

BSE Metal is trading lower by (3.10%) or 393.73 points at 12,327.11. The top losers are Jindal Steel dipped by (4.14%) at Rs. 2,990.35 along with Gujarat NRE by (3.94%) at Rs. 52.40, Hindalco Industries by (3.65%) at Rs. 104.25, Sterlite Industries by (3.40%) to Rs. 639.8 followed by Tata Steel by (3.14%) at Rs. 455.

Markets opened sharply lower.

The indian stock markets today opened sharply lower tracking weak global markets. The selling pressure witnessed across the board. The Realty, Metal, Auto and Banking stocks are fronting the decline in the opening trade. The broader market indices also remained out of favor in the early trade as the BSE Mid Cap is now trading with a cut of more than 1% each and the BSE Small Cap with a loss of more than 0.5%.

The BSE Sensex is now trading below the 15100 mark and the NSE Nifty below the 4500 mark in the early trade.

At 10.32 IST, the BSE Sensex is trading down by 318.37 points or (2.07%) at 15,093.26 and the NSE Nifty is trading lower by 95.65 points or (2.09%) at 4,484.40.

The BSE Mid Cap is trading lower by 73.24 points at 5,530.57 and the BSE Small Cap fell by 40.91 points or (0.64%) to 6,371.65.

NTPC reported the top gainer from the BSE Sensex pack, as it is trading up by (0.15%) at Rs.206.50 while Hero Honda reported the top loser trading down by (4.58%) at Rs. 1,410.50.

The Overall market breadth is negative as 586 stocks are advancing while 1134 stocks are declining and the 45 stocks remained unchanged on BSE.

The US stocks markets closed lower on Friday, backed by the August consumer sentiment survey. A disappointing report on consumer sentiment sent the benchmark indices in the red but they however managed to close off the day’s low. The report revealed that sentiment unpredictably declined to 63.2, the lowest level since March. However, consumer prices were flat in July from June and Industrial production increases for the first time in July this year. The Dow Jones Industrial Average (DJIA) ended down by 76.79 points at 9,321.40, NASDAQ index declined by 23.83 points to 1,985.82 and the S&P 500 (SPX) closed lower by 8.64 points at 1,004.09.

Asian markets were trading down today as the Hang Seng, Nikkei 225, Straits Times and Seoul Composite index are trading lower by (2.64%), (2.69%), (1.82%) and (1.95%) respectively. Japan''s economy made a sharp turnaround in the second quarter (April-June) as it expanded at an annual pace of 3.7% on a strong rebound in exports. Exports grew 6.3% from the previous quarter, the highest growth since the second quarter of 2002.


BSE Realty index dropped by 119.59 points or (3.02%) at 3,843.47. The top losers are Orbit Co fell by (4.68%) to Rs.180.25, Unitech declined by (3.98%) to Rs.89.15, Parsavnath fell by (3.97%) to Rs. 115 followed by India Bull Real decreased by (3.47%) to Rs.228.35.

BSE Metal index dropped by 327.38 points or (2.57%) at 12,393.46. The top losers are Sterlite Industries fell by (3.86%) to Rs.636.80, Gujarat NRE declined by (3.67%) to Rs.52.55, Hindalco Industries decreased by (3.65%) to Rs.104.25 followed by Jai Corp down by (3.49%) to Rs.211.30.

Pre Session Indian stock Market Commentary, 17/08/2009

Today Indian stock market are likely to open negative as majority of Asian markets are trading with heavy losses. Nikkei has conceded more than 2% loss on the back of concerns of weak consumer sentiment in the US. However Japan’s economy grew by 0.9% in April-June quarter marking its fist expansion in the last five quarters. The sentiments across Asia are weak and therefore in the domestic market one could witness an early selling pressure erupting across broader level. During the day the domestic markets are likely to trade negative.

On Friday, domestic markets closed with staggering gains. After previous session’s strong rally, the domestic market closed the today’s instable session in red terrain on profit booking. Depressing US index futures weighed on the sentiments. Benchmark indices were under pressure also on concerns regarding poor monsoon. However, market tried to recover during mid session on the positive Asian markets and firm European markets, though were unable to continue the respite. The BSE Sensex ended below 15,450 level and NSE Nifty closed below 4,500 mark.

The BSE Sensex closed lower by 106.86 points at 15,411.63 and NSE Nifty ended down by 24.95 points at 4,580.05. BSE Small Caps closed with gains of 25.51 points at 6,412.56 whereas BSE Mid Caps ended with losses of 50.8 points at 5,603.81. The BSE Sensex touched intraday high of 15,535.47 and intraday low of 15,367.61.

On Friday, US stock markets closed lower. There was broad based selling pressure on the back of some latest dose of data. July CPI and core CPI were released ahead of the opening bell, which showed a monthly growth of 0.1%. The July CPI data was inline with expectations and therefore hardly affected the market sentiments. The Industrial production data for July recorded a stronger than expected growth of 0.5%. Material stocks were the laggards of the day with a loss of 2.7% followed by Retailers that shed 1.7%. Financial stocks provided a lot of support to the markets as they pared their early losses of 2% to close with modest loss of 0.5% only. US light crude oil futures for September delivery closed at $67.29 per barrel lower by 4.6% on the New York Mercantile Exchange.

The Dow Jones Industrial Average (DJIA) closed lower by 76.79 points at 9,321.40, NASDAQ index declined by 23.83 points to 1,985.52 and the S&P 500 (SPX) closed lower by 8.64 points at 1004.09.

Today major stock markets in Asia are trading negative. Japan''s Nikkei is trading down by 246.62 points at 10,521.02 followed by Hang Seng which is trading lower by 596.60 points at 20,471.77 and Taiwan Weighted is trading also trading lower by 84.02 points at 7,034.27.

Indian ADRs ended mixed on Friday. In the IT pack, Infosys was down 2.19%, Satyam was down 1.96%, Wipro was down 1.53%, while Patni was up 0.93%. In the Telecom space, MTNL was down 3.65% but Tata Comm was up 1.88%. In the banking lot, ICICI Bank was down 2.93%, while HDC Bank was up 0.59%. In the other sectors, Dr Reddys was down 0.72%, Tata Motors was down 3.51% and Sterlite was down 1.38%.


On Friday, the partially convertible rupee ended at 48.24/25 per dollar, 0.3% weaker than previous close at 48.11/12. It rupee weakened duet to lackluster local stocks markets and also slowing economic growth after weak monsoon rains dented the outlook for farm output.

On BSE, total number of shares traded were 44.38 Crore and total turnover stood at Rs 5,649.97 Crore. On NSE, total number of shares traded were 90.76 Crore and total turnover was Rs 16,421.25 Crore.

Top traded volumes on NSE Nifty – Unitech with total volume traded 40787003 shares, followed by Suzlon Energy with 38859379, DLF with 14406199, Hindalco with 12990865 and Tata Steel with 11898887 shares.

On NSE Future and Options, total number of contracts traded in index futures was 712281 with a total turnover of Rs 15,422.16 Crore. Along with this total number of contracts traded in stock futures were 548389 with a total turnover of Rs 17,775.52 crore. Total numbers of contracts for index options were 1243373 with a total turnover of Rs 28,858.95 Crore and total numbers of contracts for stock options were 55779 and notional turnover was Rs 1,835.09 Crore.

Today, Nifty would have a support at 4,486 and resistance at 4,532 and BSE Sensex has support at 15,065 and resistance at 15,236.

Stock Market Reports : Foreign Stock Market Headline dated 17/08/2009

Friday, US stocks market closed lower backed by the August consumer sentiment survey. A disappointing report on consumer sentiment sent the benchmark indices in the red but they however managed to close off the day’s low. The report revealed that sentiment unpredictably declined to 63.2, the lowest level since March. However, consumer prices were flat in July from June and Industrial production increases for the first time in July this year.

The Dow Jones Industrial Average (DJIA) ended down by 76.79 points at 9,321.40, NASDAQ index declined by 23.83 points to 1,985.82 and the S&P 500 (SPX) closed lower by 8.64 points at 1,004.09.

Retailers stocks also had a weak session following downside guidance from JCPenney .The dour outlook overshadowed the company''s better-than-expected second quarter earnings results.

In economic news, consumer prices in July remained flat from June, but plunged 2.1% from corresponding period of previous year. This is largest decline since January 1950. However, the industrial production increased 0.5% in July, for the first time this year on inventory rebuilding and the reopening of auto plants.

US light crude oil futures for September delivery ended at $67.29 per barrel down by 4.6% on the New York Mercantile Exchange on diminished hopes that an economic recovery would boost oil demand.

Gold futures for the month of December delivery finished the session at $948.70 per ounce lower by 0.8% on the New York Mercantile Exchange.

Sufficient food grain stock to limit price rise

Sufficient food grain stocks may put a stop to rise in price due topoor monsoon, said a commodities broking firm. “Poor rainfall this year can have an obvious impact on food prices, thereby impacting inflation. However, India has some respite in the form of comfortable levels of food grain stocks,” broking firm Angel Commodities said in a report. In 2002-03, the release of these stocks had aided to contain rise in inflation, mainly in food grains.

The government has confirmed that it has sufficient food grain stocks to meet demand under the public distribution system (PDS) and other welfare schemes during 2009-10, the report said. As on June 1, food grain stocks stood over 535 lakh tonne against the government’s annual requirement of 496 lakh tonne.

Cardamom prices witness rise

Cardamom prices witnessed rise due to delay in the start of the new cardamom season that has squeezed fresh arrivals into the market. The cardamom prices are hovering around Rs 700 per kg level.

Generally, the season picks up in the month of August with new cardamom arrivals from the harvest flooding the market. However, this year the season has been delayed by a month because of inadequate rains. Consequently, the arrivals are expected to improve only by September.

The average spot prices at Vandanmedu auctions on Wednesday stood at Rs 710 per kg with arrivals keeping as low as 19 tonnes as compared with 30 tonnes in a year-ago period.

Pepper futures remain volatile

The pepper futures market witnessed high volatility last week with the prices shooting up in beginning and then falling sharply to move up at the weekend close.

On NCDEX, August, September and October contracts dropped by Rs 430, Rs 330 and Rs 347 respectively to close at Rs 14,460, Rs 14,806 and Rs 15,026 a quintal on Friday. Total turnover during the week increased by 2,735 tonnes to close at 59,409 tonnes. Total open interest went up by 352 tonnes to 9,519 tonnes.

August open interest dropped by 981 tonnes to 764 tonnes while September and October increased by 909 tonnes and 416 tonnes respectively, indicating switching over from August. Spot prices, however, remained at the previous weekend closing levels of Rs 14,000 (un-garbled) and Rs 14,500 (MG 1) a quintal.

Post Session Indian stock Market Commentary, dated 14/08/2009

After previous session’s strong rally, the Indian stock closed the today’s instable session in red terrain on profit booking. Depressing US index futures weighed on the sentiments. Benchmark indices were under pressure also on concerns regarding poor monsoon. However, market tried to recover during mid session on the positive Asian markets and firm European markets, though were unable to continue the respite. The BSE Sensex ended below 15,450 level and NSE Nifty closed below 4,500 mark.

Market belled the day on a slight positive note after a sharp rise on the previous working day. The US stocks markets closed higher on Thursday, on strong performance by Wal-Mart. In addition, investors applauded an encouraging business-inventories report, which indicated that the recession might be winding down. Wal-Mart beats Street expectations and reported better-than-expected earnings along with solid outlook. However, Indian benchmark indices suddenly turned volatile and started losing ground as selling emerged among the key stocks. Further, market continued to extend its losses despite little unsuccessful attempt to recover. After skipping up and down on account of continuous buying and selling activity witnessed in heavyweights, market finally landed to negative terrain. From the sectoral front, most of the selling was seen in Realty, FMCG, IT, Teck, Auto and Pharma stocks. However, Oil & Gas and Consumer Durables stocks were in limelight as witnessed most of the buying from these baskets.

Among the Sensex pack 25 stocks ended in red territory and 5 in green. The market breadth indicating the overall health of the market remained negative as 1417 stocks closed in red while 1243 stocks closed in green and 72 stocks remained unchanged in BSE.

The BSE Sensex closed lower by 106.86 points at 15,411.63 and NSE Nifty ended down by 24.95 points at 4,580.05. BSE Small Caps closed with gains of 25.51 points at 6,412.56 whereas BSE Mid Caps ended with losses of 50.8 points at 5,603.81. The BSE Sensex touched intraday high of 15,535.47 and intraday low of 15,367.61.

Losers from the BSE Sensex pack are JP Associates (3.52%), HUL (2.60%), NTPC Ltd (2.41%), RCom (2.34%), ACC Ltd (2.21%), HDFC (2.19%), Maruti Suzuki (1.99%), Herohonda Motors (1.93%), ITC Ltd (1.78%), ICICI Bank (1.69%), Sun Pharma (1.63%), Grasim Industries (1.39%), Tata Motors (1.38%), DLF Ltd (1.25%) and Infosys Tech (1.26%).

Gainers from the BSE Sensex pack are ONGC Ltd (4.79%), Reliance Infra (1.49%), Reliance (0.54%), Sterlite Industries (0.34%) and HDFC Bank (0.13%).

On the global markets front the Asian markets that opened before the Indian market, ended mostly higher on indication that the world economy is emerging from a deep recession. Hang Seng, Nikkei 225, Singapore''s Straits Times Index and Seoul Composite ended higher by 32.03, 80.14, 17.33 and 26.77 points at 20,893.33, 10,597.33, 2,631.51 and 1,591.41 respectively. However, Shanghai Composite lost 93.58 points at 3,046.97.

European markets, which opened after the Indian market, are trading in green, as investors remained hopeful over signs that a global economic slowdown may be coming to an end. GDP data released on Thursday indicated Europe''s powerhouses Germany and France had returned to growth as both grew by 0.3% between April and June. In Frankfurt the DAX index is trading higher by 26.48 points at 5,427.59 and in London FTSE 100 is trading up by 17.71 points at 4,773.17.

The BSE Realty index lost (1.69%) or 68.2 points at 3,963.06 on profit taking. Losers are Orbit Co (4.97%), Penland Ltd (4.14%), Ackruti (4.01%), Omaxe Ltd (3.88%) and Ansal Infra (3.72%).

The BSE FMCG index ended down by (1.26%) or 32.48 points at 2,552.80. As HUL (2.60%), ITC Ltd (1.78%), United Spr (1.45%), United Brew (1.10%) and Ruchi Soya (0.40%) ended in red.

The BSE IT index closed lower by (1.16%) or 46.86 points at 3,977.73 on weak US retail sales data. Losers are HCL Tech (4.15%), Financ Tech (3.25%), Tech Mahindra (1.43%), Infosys Tech (1.23%) and TCS Ltd (1.21%).

The BSE Teck index dropped by (1.05%) or 31.12 points at 2,920.82. Scrips that lost are HCL Tech (4.15%), Financ Tech (3.25%), Wire & Wirles (2.70%), RCom (2.34%) and Him Futr Com (2.13%).

The BSE Auto index lost (1.04%) or 58.6 points at 5,569.2 on worries arising from scanty rains as auto firms derive larger revenue from rural India. Main losers are Bharat Forge (3.00%), Maruti Suzuki (1.99%), Herohonda Motors (1.93%), Tata Motors (1.38%) and MRF Ltd (1.06%).

The BSE Oil & Gas index advanced by (1.73%) or 167.60 points at 9,869.21 as oil prices inclined overnight on gains in US stock markets. Gainers are ONGC Ltd (4.79%), HPCL (3.60%), Cairn Ind (3.27%), Gail India (3.27%) and IOC Ltd (3.13%).

HDFC dropped by 2.19%. The country’s largest home loan financer has reduced the interest rate by 50 basis points on loan amount ranging between Rs.30-50 lakh. After this cut, the new rate will carry 9% per annum down from 9.5% earlier. However, the stock is now trading down by (2.16%) at Rs. 2,312.

Punjab National Bank ended lower by 1.34%. The bank has slashed home and car loan rates by 50 basis points where the bank has launched ''''PNB Festival Season Bonanza Offer 2009'''' that offers attractive rates to people during the festival season. However, PNB''''s campaign is said to come a week after SBI''''s three-month-long home loan campaign, offering loans at 8%.

Sterlite Industries is closed higher by 0.34% amid reports that the government is planning to sell its 49% stake in Bharat Aluminium Company (Balco) to Sterlite Industries at around Rs.2000 crore. Sterlite Industries had earlier bought 51% stake in Balco in 2001.

Tulsyan NEC Ltd gained 0.69% after the company said its board will meet on 18 August 2009 to consider issue of equity shares on rights basis.

IndusInd Bank Ltd spurted 2.69% after the bank said its capital adequacy ratio, or CAR, has risen to over 15% following its Rs. 480 crore qualified institutional placement.

eClerx Services Ltd gained 1.70% after private equity firm Sequoia Capital bought a 6% stake in the company from Burwood Ventures for nearly Rs. 40 crore in a block deal on Wednesday, 12 August 2009.

Indraprastha Gas Ltd gained 12.49% on buzz that the company signed a pact with Reliance Industries and its partner NIKO for purchasing of gas from D6 block of Krishna-Godavari basin at $4.2 per million British thermal unit.

Man Industries India Ltd went up by 10.49%. The company has informed that the Company has secured an order worth Rs 200 crore from Gail (India) Ltd and orders worth of Rs 550 crore from Middle East and African Continent for supply of LSAW pipes.

Markets are still choppy.

The stock markets remained choppy today and are swinging around the unchanged mark. The FMCG, IT, Tech and Pharma stocks continued o remain under pressure. The Oil & Gas inex outperformed the benchmark indices as it is now trading with a gain of more than 2%. The broader market indices are however witnessing the buying momentum as both the BSE Mid Cap and the small Cap indices are now trading higher.

The overall market breadth is positive as 1409 stocks are advancing while 1179 stocks are declining in BSE.

ONGC reported the top gainer from the BSE Sensex pack, as it is trading up by (4.73%) at Rs.1,219.50 while Jai Prakash associate reported the top loser trading down by (2.90%) at Rs. 217.80.

At 2.31PM the BSE Sensex is trading lower by 71.44 points at 15,447.05 and the NSE Nifty is trading lower by 16.45 points at 4,588.55.

The BSE Mid Cap increased by 4.53 points to 5,613.42 and the BSE Small Cap grew by 49.56 points to 6,436.61.

The FMCG index is trading with losses of 44.48 points or 1.72% at 2,540.80. Losers from this pack are HUL trading lower by 3.04% at Rs. 255.30 along with ITC by 2.45% at Rs. 233.10, United Spirits by 1.41% at Rs. 896.05, Ruchi Soya by 1.21% at Rs. 73.70 and Colgate Palmolive by 0.65% at Rs. 602.

The Oil and Gas index is trading gains of 193.92 points or 2% at 9,895.53. Gainers from this pack are ONGC trading higher by 5.12% at Rs. 1224, HPCL by 3.42% at Rs. 366.10, Gail India by 3.32% at Rs. 342.50, IOCL by 3.13% at Rs. 567.25, RNRL by 2.47% at Rs. 82.85, Cairn India by 2.20% at Rs. 246.60 and BPCL by 2.17% at Rs. 522.90.

The most active shares on NSE are IFCI trading at Rs. 52.75 with a total traded quantity of 40559417 shares followed by Unitech trading at Rs. 93.60 with a total traded quantity of 31578630 shares.

Punjab National Bank is trading lower by 0.86% at Rs. 696. The bank has slashed home and car loan rates by 50 basis points where the bank has launched ''''PNB Festival Season Bonanza Offer 2009'''' that offers attractive rates to people during the festival season. However, PNB''''s campaign is said to come a week after SBI''''s three-month-long home loan campaign, offering loans at 8%.

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 (0.46%), (0.47%) and (0.60%) respectively.

Market traded volatile in a narrow range

After a subdued opening, the key benchmark indices traded volatile in a range bound session on profit taking despite Federal Reserve''s statement that "economic activity is levelling out". The US''s central bank gave no signal on any increase in its $300 billion quantitative easing programme which was necessary and its outlook on recovery prospects improved.

On the sectoral front, out of 13 Indices, 4 indices advanced whereas 9 indices declined. Oil exploration stocks advanced as crude oil gained for a second day after the German and French economies unexpectedly grew, sprinkling hopes for a recovery in fuel demand. Realty stocks plunged on profit taking. Auto stocks slipped on worries arising from scanty rains as auto firms derive larger revenue from rural India. IT stocks drifted down on weak US retail sales data.

The Market breadth, indicating the overall strength of the stock market, was strong On BSE, out of 2,559 stocks traded so far, 1,358 shares advanced while 1,122 shares declined. Nearly 79 shares are unchanged.

At 1.18PM, the BSE Sensex is trading lower by 40 points at 15,478 whereas NSE Nifty is down by 13.20 points at 4,591.50.

The BSE Mid Cap is trading higher by 13.18 points at 5,622.08 and Small cap is trading up by 48.22 points at 6,435.28.

Major losers from the BSE Sensex Pack are ITC Ltd plunged 2.91% to Rs. 232.00, Housing Development Finance Co Ltd 2.48% to Rs. 2,304, Jaiprakash Associates Ltd plunged 2.30% to Rs. 219.15, Wipro Ltd 2.21% to Rs. 504.10, Hero Honda Motors Ltd by 2.01% to Rs. 1,477, Hindustan Uniliver Ltd by 1.94% to Rs. 258.20, Infosys Technologies Ltd by 1.85% to Rs. 2,027, ICICI Bank by 1.83% to Rs. 743.10, Tata Motors by 1.72% to Rs. 465.20, Sun Pharmaceuticals Ltd by 1.52% to Rs. 1,224.30 and TCS Ltd by 1.33% to Rs. 520.00.

Major gainers from the BSE Sensex pack are ONGC Ltd up by 4.27% to Rs. 1,214.10 along with, Tata Steel Ltd surged 1.30% to Rs. 476.60, Hindalco Industries Ltd by 1.20% to Rs. 109.90, Reliance Infrastructure Ltd by 1.10% to Rs. 1,181, Sterlite Industries by 0.98% to Rs. 666 and Reliance Industries Ltd by 0.58% to Rs. 2,035.15 among others.

The BSE FMCG is lower by 52.23 points or 2.02% at 2,533.05. Stocks plunged are ITC Ltd 2.91% to Rs. 232.00, Hindustan Uniliver Ltd 1.94% to Rs. 258.20, Ruchi Soya Ltd 1.61% to Rs. 73.40, United Brew Ltd 0.78% to Rs. 153.05, United Spr Ltd by 0.54% to Rs. 904 and Colgate Palm 0.23% to Rs. 604.55 among others.

IndusInd Bank Ltd spurted 3.54% to Rs. 96.40 after the bank said its capital adequacy ratio, or CAR, has risen to over 15% following its Rs. 480 crore qualified institutional placement.

Indraprastha Gas Ltd zoomed 6.23% to Rs. 162.85 on buzz the company signed a pact with Reliance Industries and its partner NIKO for purchasing of gas from D6 block of Krishna-Godavari basin at $4.2 per million British thermal unit.

eClerx Services Ltd gained 1.50% to Rs. 328.10 after private equity firm Sequoia Capital bought a 6% stake in the company from Burwood Ventures for nearly Rs. 40 crore in a block deal on Wednesday, 12 August 2009.

Tulsyan NEC Ltd gained 0.29% to Rs. 51.10 after the company said its board will meet on 18 August 2009 to consider issue of equity shares on rights basis.

Mid Session Indian stock Market Commentary...

The stock markets are witnessing a volatile session today with negative bias as profit booking continued after a sharp rally in the previous session. Further the mixed Asian markets also led to a choppy session. The FMCG, IT, Tech and Banking stocks remained in pressure today. However, some buying among the Oil & Gas, Consumer Durables, PSU and Metal stocks have provided some support to the markets. The broader market indices are however trading flat as the BSE Mid Cap is trading near the unchanged mark while the BSE Small Cap is now trading higher. The BSE Sensex is now trading below the 15450 mark and the NSE Nifty below the 4600 mark.

ONGC reported the top gainer from the BSE Sensex pack, as it is trading higher by (4.77%) at Rs.1,220 while ITC reported the top loser trading down by (2.70%) at Rs.232.50.

The overall market breadth is positive as 1330 stocks are advancing while 1069 stocks are declining and the 70 stocks remain unchanged on BSE.

At 12.31 pm, BSE Sensex was at 15,420.04 down by 98.45 points and the NSE Nifty was at 4,572.90 down by 32.10 points.

The BSE Mid cap is trading flat at 5,680.73 and the BSE small Cap grew by 35.32 points to trade at 6,422.37.

Sterlite Industries is trading higher by (1.31%) at Rs. 667.60 amid reports that the government is planning to sell its 49% stake in Bharat Aluminium Company (Balco) to Sterlite Industries at around Rs.2000 crore. Sterlite Industries had earlier bought 51% stake in Balco in 2001.

HDFC, the country’s largest home loan financer has reduced the interest rate by 50 basis points on loan amount ranging between Rs.30-50 lakh. After this cut, the new rate will carry 9% per annum down from 9.5% earlier. However, the stock is now trading down by (2.16%) at Rs. 2,312.

BSE REALTY index was at 3,989.29 down by (41.97) points or by (1.04%) The main gainers were Anant Raj In up by (5.17%) at Rs.136.25, Orbitco up by (3.77%) at Rs.191.5, Omaxe Ltd up by (3%) at Rs.105.1, Penland Ltd up by (2.86%) at Rs.79.7, Ansal Infras up by (2.5%) at Rs.64.25.

BSE METAL index was at 12,787.82 up by 8.10 points or by (0.06%) The main gainers were Gujara Nre C up by (2.3%) at Rs.55.15, Jindal Saw up by (2.08%) at Rs.577.7, Welsp Guj Sr up by (1.58%) at Rs.217.5, Nmdc Ltd up by (1.4%) at Rs.367, Hind.Zinc up by (1.33%) at Rs.731.15.

BSE BANKEX index was at 8,243.73 down by (110.35) points or by (1.32%) The main gainers were Indus Ind Bk up by (3.11%) at Rs.96, Oriental Bk up by (2.17%) at Rs.167, Punjab Natbk up by (2.14%) at Rs.687, Kotak Bank up by (2.02%) at Rs.739, Icici Bank L up by (1.92%) at Rs.742.4.

BSE CG index was at 12,337.86 down by (79.89) points or by (0.64%) The main gainers were Everest Kant up by (4.85%) at Rs.193.5, Havellsindia up by (2.52%) at Rs.291, Elecon Eng C up by (2.15%) at Rs.80.75, Praj Industries Ltd. up by (2.13%) at Rs.91.2, Reliance Industrial Infrastruc up by (1.55%) at Rs.993.4.

BSE FMCG index was at 2,538.00 down by (47.28) points or by (1.83%) The main gainers were Tata Tea Ltd up by (3.65%) at Rs.936.4, I T C Ltd up by (3.01%) at Rs.231.75, Britania In up by (2.59%) at Rs.1718.95, Hind Uni Lt up by (2.16%) at Rs.257.6, Godrej Cons up by (1.79%) at Rs.224.75.

BSE AUTO index was at 5,582.50 down by (45.32) points or by (0.81%) The main gainers were Apollo Tyre. up by (3.63%) at Rs.41.35, Herohonda up by (2.09%) at Rs.1475.9, Tata Motors up by (1.38%) at Rs.466.8, Marutisuzuki up by (1.28%) at Rs.1356, Bharat Forge up by (0.99%) at Rs.231.

BSE CD index was at 3,114.01 up by 46.58 points or by (1.52%) The main gainers were Gitanjali Ge up by (4.52%) at Rs.113.3, Videocon Ind up by (2.27%) at Rs.205, Rajesh Expot up by (2.19%) at Rs.44.3, Titan Ind. up by (1.7%) at Rs.1215, Blue Star L up by (0.16%) at Rs.344.6.

BSE PSU index was at 8,331.28 up by 43.44 points or by (0.52%) The main gainers were St Trad Corp up by (4.39%) at Rs.323.35, Ong Corp Ltd up by (4.32%) at Rs.1214.7, Gail India up by (3.47%) at Rs.343, Hind.Copper up by (3.47%) at Rs.243, Hindustan Petroleum Corp. Ltd. up by (2.4%) at Rs.362.5.

BSE POWER index was at 2,903.55 down by (13.29) points or by (0.46%) The main gainers were Tornt Power up by (2.51%) at Rs.245, Gmr Infrastr up by (2.11%) at Rs.134.5, Lanco Infra up by (1.56%) at Rs.440.6, Ntpc Ltd up by (1.21%) at Rs.208.75, Rel Infra up by (1.16%) at Rs.1181.6.

BSE HC index was at 3,888.96 down by (32.17) points or by (0.82%) The main gainers were Sunpha Adv up by (3.93%) at Rs.72.05, Sun Pharmaceuticals Ltd. up by (1.86%) at Rs.1220, Wockhardt Lt up by (1.84%) at Rs.160, Lupin Ltd up by (1.69%) at Rs.994, Opto Circuit up by (1.37%) at Rs.179.5.

BSE OIL&GAS index was at 9,828.95 up by 127.34 points or by (1.31%) The main gainers were ONGC Ltd up by (4.32%) at Rs.1214.7, Gail India up by (3.47%) at Rs.343, Hindustan Petroleum Corp. Ltd. up by (2.4%) at Rs.362.5, RNRL up by (2.29%) at Rs.82.7, Indian Oil C up by (2.17%) at Rs.562.

BSE IT index was at 3,957.83 down by (66.76) points or by (1.66%) The main gainers were Hcl Techno up by (4.65%) at Rs.268.9, Aptech Ltd up by (3.93%) at Rs.217, NIIT Ltd up by (3.57%) at Rs.68.25, Rolta Ind up by (2.67%) at Rs.163.3, Wipro Ltd. up by (2.33%) at Rs.503.5.

On the global markets front, the Asian markets are trading mixed as the Nikkei 225 and Seoul Composite index are trading up by (0.76%) and (1.71%) respectively. However, Hang Seng, Shanghai Composite and Straits Times index are trading down by (0.71%), (2.43%) and (0.08%) respectively.