Indian stock Market rebounded sharply from its initial lows to close the day with gains on suignificant buying support. Firm Asian stocks along with recovery in US index futures led sharp rebound from initial lows in the domestic bourses. Firm trading in European markets also contributed to the constructive attitude. Market gained ground amid instability as strong buying emerged across the board. Key benchmark indices witnessed upswing despite worries of lesser than normal rains. On 10th August 2009, the India Meteorological Department (IMD) slashed its forecast for the June-September South West monsoon for a second time in three months and said state governments were free to announce drought. The BSE Sensex ended above 15,050 level and NSE Nifty closed above 4,450 mark.
Market belled the day on flat note with negative bias tracking unfavorable cues from the US markets. The US stocks markets closed lower on Monday amid profit booking after a four-week rally. Stocks slipped also ahead of vital economic data, including Federal Reserve''s statement on interest rates, due this week. Further, Indian benchmark indices rebounded sharply and continued to trade with gains as most of the Asian stocks witnessed rise. Investors were hopeful that economic reforms would advance economic growth and corporate earnings over the medium term. However, market skidded from the day’s high during final trading but managed to recover again to end on positive terrain. From the sectoral front, all indices ended in green barring PSU stocks. Auto, Realty, Metal, Pharma, Power, Oil & Gas and Teck stocks supported the market. BSE Midcap and Smallcap indices also witnessed buying during the trading.
Among the Sensex pack 17 stocks ended in red territory and 13 in green. The market breadth indicating the overall health of the market remained positive as 1356 stocks closed in green while 1281 stocks closed in red and 95 stocks remained unchanged in BSE.
The BSE Sensex closed higher by 64.82 points at 15,074.59 and NSE Nifty ended up by 33.70 points at 4,471.35. BSE Mid Caps and Small Caps closed with gains of 58.94 and 33.19 points at 5,399.42 and 6,106.22 respectively. The BSE Sensex touched intraday high of 15,218.65 and intraday low of 14,864.23.
Gainers from the BSE Sensex pack are Tata Motors (6.81%), M&M Ltd (3.55%), Hindalco (3.38%), Maruti Suzuki (3.23%), Bharti Airtel (2.23%), Tata Power (1.81%), Tata Steel (1.57%), Sun Pharma (1.44%), HUL (1.04%), SBI (1.04%), ACC Ltd (1.03%) and ITC Ltd (0.67%).
Losers from the BSE Sensex pack are JP Associates (2.64%), HDFC (1.11%), NTPC Ltd (0.88%), ONGC Ltd (0.70%), Wipro Ltd (0.64%), ICICI Bank (0.38%), Herohonda Motors (0.34%) and Infosys Tech (0.25%).
On the global markets front the Asian markets that opened before the Indian market, ended higher after the recent data revealed that China''s industrial production and investments in urban fixed assets increased at a rapid in July 2009. China''s industrial production jumped 10.8% in July 2009 after 10.7% rise in June 2009. Shanghai Composite, Nikkei 225, Hang Seng, Straits Times Index and Seoul Composite ended higher by 14.97, 144.69, 61.20, 47.95 and 3.1 points at 3,264.73, 21,074.21, 10,585.46, 2,597.30 and 1,579.21 respectively.
European markets, which opened after the Indian market, are trading in green. In Frankfurt the DAX index is trading up by 6.13 points at 5,424.25 and in London FTSE 100 is trading higher by 6.04 points at 4,728.74.
The BSE Auto index ended higher by (3.07%) or 160.21 points at 5,370.48. Scrips that gained are Cummins Indi (8.66%), Bharat Forge (6.98%), Tata Motors (6.81%), Ashok Leyland (5.51%) and M&M Ltd (3.55%).
The BSE Realty index advanced by (2.14%) or 77.21 points at 3,693.02. Gainers are Anant Raj (12.17%), Penland Ltd (7.92%), Orbit Co (4.99%), Pheonix Mill (4.91%) and Ansal Infra (4.70%).
The BSE Metal index gained (2%) or 240.76 points at 12,305.66 on strong Chinese economic data. Main gainers are Jindal Steel (5.81%), Jindal Saw (4.70%), Welspan Gujarat SR (3.43%), Hindalco (3.38%) and JSW Steel (2.63%).
The BSE Pharma index advanced by (0.95%) or 35.97 points at 3,806.26. Gainers are Ranbaxy Lab (6.17%), Bil Care Ltd (3.69%), Dr Reddy’s Lab (3.02%), Orchid Chem (2.22%) and Opto Circuit (2.16%).
The BSE Power index ended up by (0.81%) or 22.83 points at 2,811.42. As GVK Power (6.87%), Torrent Power (6.57%), Suzlon Energy (3.20%), Tata Power (1.81%) and Crompton Greaves (1.75%) ended in green.
The BSE Oil & Gas index closed higher by (0.68%) or 64.9 points at 9,582.34. Gainers are Aban Offshore (4.53%), Gail India (4.47%), Cairn Ind (2.03%), RNRL (1.37%) and Essar Oil Ltd (0.78%).
Tata Motors Ltd rose 6.81% on reports the company has secured a debt facility for its Jaguar and Land Rover operations.
Ranbaxy Laboratories Ltd advanced by 6.17%. The company received final approval from US Food & Drug Administration (USFDA) to manufacture and market Sumatriptan Succinate Tablets 25 mg (base) and 50 mg (base).
Fortis Healthcare Limited went up by 1.43%. The Issue Committee of the Directors of the company fixed the ratio for the Rights issue at 2 (two) for every 5 (five) equity shares held. The subscribers to the Rights Issue will also be entitled to 2 (two) detachable warrants (one each of Series A and Series B) for every 2 (two) Rights
Shares allotted.
Consolidated Construction Consortium Ltd increased by 2.17%. The integrated construction service provider announced that it has bagged project worth Rs. 431 crores from Oil and Natural Gas Corporation Limited (ONGC) to build its corporate office - "Rajiv Gandhi Urja Bhavan" in Vasant KunJ, New Delhi.
Gujarat NRE Coke Ltd ended higher by 1.03%. The Australian subsidiary of the company, Gujarat NRE Minerals Ltd announced that it is in the final stages of commissioning of its longwall at its Wongawilli hard coking coal mine near Wollongong in New South Wales.
Gammon Infrastructure Projects Ltd closed higher by 4.97%. The Board of Directors of the Company has by circular resolution approved the sub-division of the issued and un-issued equity shares of the Company of the face value of Rs 10/- (Ten) each into 5 (Five) equity shares of Rs 2/- (Two) each, subject to the approval of the shareholders.
Petronet LNG Ltd zoomed 2.54% after the company signed a pact with ExxonMobil to source 1.5 million tons per annum of liquefied natural gas for 20 years from the proposed Gorgon LNG Project in Western Australia.
Aurobindo Pharma dropped marginally by 0.27%. The company’s approved ANDA for Sumatriptan Succinate Tablets 25 mg, 50, mg and 100 mg has received final approval from the US Food & Drug Administration (USFDA).
Market belled the day on flat note with negative bias tracking unfavorable cues from the US markets. The US stocks markets closed lower on Monday amid profit booking after a four-week rally. Stocks slipped also ahead of vital economic data, including Federal Reserve''s statement on interest rates, due this week. Further, Indian benchmark indices rebounded sharply and continued to trade with gains as most of the Asian stocks witnessed rise. Investors were hopeful that economic reforms would advance economic growth and corporate earnings over the medium term. However, market skidded from the day’s high during final trading but managed to recover again to end on positive terrain. From the sectoral front, all indices ended in green barring PSU stocks. Auto, Realty, Metal, Pharma, Power, Oil & Gas and Teck stocks supported the market. BSE Midcap and Smallcap indices also witnessed buying during the trading.
Among the Sensex pack 17 stocks ended in red territory and 13 in green. The market breadth indicating the overall health of the market remained positive as 1356 stocks closed in green while 1281 stocks closed in red and 95 stocks remained unchanged in BSE.
The BSE Sensex closed higher by 64.82 points at 15,074.59 and NSE Nifty ended up by 33.70 points at 4,471.35. BSE Mid Caps and Small Caps closed with gains of 58.94 and 33.19 points at 5,399.42 and 6,106.22 respectively. The BSE Sensex touched intraday high of 15,218.65 and intraday low of 14,864.23.
Gainers from the BSE Sensex pack are Tata Motors (6.81%), M&M Ltd (3.55%), Hindalco (3.38%), Maruti Suzuki (3.23%), Bharti Airtel (2.23%), Tata Power (1.81%), Tata Steel (1.57%), Sun Pharma (1.44%), HUL (1.04%), SBI (1.04%), ACC Ltd (1.03%) and ITC Ltd (0.67%).
Losers from the BSE Sensex pack are JP Associates (2.64%), HDFC (1.11%), NTPC Ltd (0.88%), ONGC Ltd (0.70%), Wipro Ltd (0.64%), ICICI Bank (0.38%), Herohonda Motors (0.34%) and Infosys Tech (0.25%).
On the global markets front the Asian markets that opened before the Indian market, ended higher after the recent data revealed that China''s industrial production and investments in urban fixed assets increased at a rapid in July 2009. China''s industrial production jumped 10.8% in July 2009 after 10.7% rise in June 2009. Shanghai Composite, Nikkei 225, Hang Seng, Straits Times Index and Seoul Composite ended higher by 14.97, 144.69, 61.20, 47.95 and 3.1 points at 3,264.73, 21,074.21, 10,585.46, 2,597.30 and 1,579.21 respectively.
European markets, which opened after the Indian market, are trading in green. In Frankfurt the DAX index is trading up by 6.13 points at 5,424.25 and in London FTSE 100 is trading higher by 6.04 points at 4,728.74.
The BSE Auto index ended higher by (3.07%) or 160.21 points at 5,370.48. Scrips that gained are Cummins Indi (8.66%), Bharat Forge (6.98%), Tata Motors (6.81%), Ashok Leyland (5.51%) and M&M Ltd (3.55%).
The BSE Realty index advanced by (2.14%) or 77.21 points at 3,693.02. Gainers are Anant Raj (12.17%), Penland Ltd (7.92%), Orbit Co (4.99%), Pheonix Mill (4.91%) and Ansal Infra (4.70%).
The BSE Metal index gained (2%) or 240.76 points at 12,305.66 on strong Chinese economic data. Main gainers are Jindal Steel (5.81%), Jindal Saw (4.70%), Welspan Gujarat SR (3.43%), Hindalco (3.38%) and JSW Steel (2.63%).
The BSE Pharma index advanced by (0.95%) or 35.97 points at 3,806.26. Gainers are Ranbaxy Lab (6.17%), Bil Care Ltd (3.69%), Dr Reddy’s Lab (3.02%), Orchid Chem (2.22%) and Opto Circuit (2.16%).
The BSE Power index ended up by (0.81%) or 22.83 points at 2,811.42. As GVK Power (6.87%), Torrent Power (6.57%), Suzlon Energy (3.20%), Tata Power (1.81%) and Crompton Greaves (1.75%) ended in green.
The BSE Oil & Gas index closed higher by (0.68%) or 64.9 points at 9,582.34. Gainers are Aban Offshore (4.53%), Gail India (4.47%), Cairn Ind (2.03%), RNRL (1.37%) and Essar Oil Ltd (0.78%).
Tata Motors Ltd rose 6.81% on reports the company has secured a debt facility for its Jaguar and Land Rover operations.
Ranbaxy Laboratories Ltd advanced by 6.17%. The company received final approval from US Food & Drug Administration (USFDA) to manufacture and market Sumatriptan Succinate Tablets 25 mg (base) and 50 mg (base).
Fortis Healthcare Limited went up by 1.43%. The Issue Committee of the Directors of the company fixed the ratio for the Rights issue at 2 (two) for every 5 (five) equity shares held. The subscribers to the Rights Issue will also be entitled to 2 (two) detachable warrants (one each of Series A and Series B) for every 2 (two) Rights
Shares allotted.
Consolidated Construction Consortium Ltd increased by 2.17%. The integrated construction service provider announced that it has bagged project worth Rs. 431 crores from Oil and Natural Gas Corporation Limited (ONGC) to build its corporate office - "Rajiv Gandhi Urja Bhavan" in Vasant KunJ, New Delhi.
Gujarat NRE Coke Ltd ended higher by 1.03%. The Australian subsidiary of the company, Gujarat NRE Minerals Ltd announced that it is in the final stages of commissioning of its longwall at its Wongawilli hard coking coal mine near Wollongong in New South Wales.
Gammon Infrastructure Projects Ltd closed higher by 4.97%. The Board of Directors of the Company has by circular resolution approved the sub-division of the issued and un-issued equity shares of the Company of the face value of Rs 10/- (Ten) each into 5 (Five) equity shares of Rs 2/- (Two) each, subject to the approval of the shareholders.
Petronet LNG Ltd zoomed 2.54% after the company signed a pact with ExxonMobil to source 1.5 million tons per annum of liquefied natural gas for 20 years from the proposed Gorgon LNG Project in Western Australia.
Aurobindo Pharma dropped marginally by 0.27%. The company’s approved ANDA for Sumatriptan Succinate Tablets 25 mg, 50, mg and 100 mg has received final approval from the US Food & Drug Administration (USFDA).
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