Friday, July 31, 2009

Mid Session Indian stock Market Commentary Jul-31-2009

The markets have turned little volatile after hitting 2009 highs in the early trade. The strong buying continued across the board on the first day of the August series. The significant buying witnessed among the FMCG, Banking, Oil &Gas, Consumer Durables and Capital Goods stocks. The broader markets stocks are also on the buyer’s ride today as the BSE Mid Cap is now trading with a gain of more than 0.5% and the BSE Small Cap index with a gain of more than 1%. The BSE Sensex is now trading near the 15700 mark and the NSE Nifty above the 4650 mark.

ONGC reported the top gainer from the BSE Sensex pack, as it is trading higher by (5.65%) at Rs.1,161.70. While Bharti Airtel reported the top loser from the BSE Sensex pack, as it is trading down by (0.85%) at Rs.419.90.

The overall market breadth is positive as 1555 stocks are advancing while 918 stocks are declining and the 88 stocks remain unchanged on BSE.

At 12.41 pm, BSE Sensex was at 15,693.56 up by 305.60 points and the NSE Nifty was at 4,651.95 up by 80.50 points.

The BSE Mid cap is trading higher by 78.22 points at 5,584.62 and the BSE small Cap grew by 47.41 points to trade at 6,251.42.

Reliance Infra has reported a net profit of Rs 316.57 crore for the first quarter ended June 30 2009 up 25.35% over the corresponding period last fiscal. Total income rose to Rs 2,690.51 crore during the April-June quarter from Rs 2,400.55 crore in the same period last fiscal. The company has also bagged Mumbai Metro II project, a 32-km elevated rail line between Charkop to Mankhurd in the suburbs. The stock is now trading higher by (1.78%) at Rs.1205.10.

DLF has reported a 79% drop in its consolidated net profit for the quarter ended June 30 2009 at Rs.396 crore due to sluggish demand and a crash in prices. The consolidated revenue in the first quarter fell by 56.70% to Rs. 1,649.86 crore as against Rs. 3,810.62 crore in the same period previous fiscal. The stock is now trading higher by (0.91%) at Rs.405.20.

BSE Consumer Durables index grew by 58.14 points to 3,128.22 as Bluestar (3.50%), Gitanjali Gems (2.63%), Titan Industries (0.99%), Rajesh Export (0.97%), and Videocon Industries (0.86%) are trading higher.

BSE Capital Goods index advanced by 223.22 points to 12,688.35. The main gainers are Everest Kanto (3.75%), Lakshmi Machine Works (3.03%), Reliance Industrial Infra (2.80%), siemens (2.45%), AIA Engineering (1.40%) and BHEL (1.26%).

BSE Bankex index is trading higher by 213.21 points at 8,519.12. The main gainers are SBI (4.89%), Kotak Bank (4.22%), Indus Ind Bank (3.31%), HDFC Bank (2.27%), Bank of India (2.18%) and ICICI Bank (1.74%).

BSE Oil & Gas index up by 225.05 points to 9,460.09 as ONGC (6.25%), Aban Offshore (3.09%), Essar Oil (2.92%), Reliance Industries (1.94%), Cairn India (1.50%) and RPL (1.35%) are trading in positive.

BSE Auto index is trading higher by 92.22 points at 5,735.97. The major gainers are MRF (5.31%), Apollo Tyre (3.52%), Bharat Forge (2.71%), Ashok Leyland (1.87%) and Bosch Ltd. (1.66%).

On the global markets front, the Asian markets are trading higher as the Hang Seng, Shanghai Composite, Nikkei 225, Seoul Composite and Straits Times index are trading up by (2.15%), (2.75%), (1.89%), (1.47%) and (0.66%) respectively.

No comments: