After gap-down opening, the key benchmark indices shrunk on renewed concern over the Greek bailout. Standard & Poor''s, which downgraded ratings for both Greece and Portugal, served to hasten the slide. Back home, high beta realty stocks pullback on higher valuation during recent rally. Stocks worldwide tumbled, with the S&P 500 Index slipping the most since February, and the dollar and Treasuries climbed on downgrade of Greece and Portugal fueled concern debt-laden nations are moving closer to default. Volatility may rise in the near term as traders roll over positions in the derivatives segment from the April 2010 series to the May 2010 series ahead of the expiry of the near-month April 2010 contracts on Thursday, 29 April 2010. | ||
Wednesday, April 28, 2010
Markets continued to trade subdued after veered sharply lower in early trade
Wednesday, August 19, 2009
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).
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.
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.
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 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.
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.
Tuesday, August 18, 2009
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 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.
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