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.

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.

Markets opened flat.

The stock markets today opened on a flat note and suddenly turned volatile and slipped into the negative territory as investors booked profits after a sharp rally in the previous session. The IT, Realty, Auto and Banking stocks are facing the selling pressure in the early trade. However, some buying among the Oil & Gas, PSU, Consumer Durables and Metal stocks are supporting the markets today. The broader market indices however trading flat in the opening trade

The BSE Sensex is now trading below the 15500 mark and the NSE Nifty below the 4600 mark in the early trade.

At 10.32 IST, the BSE Sensex is trading down by 71.46 points or (0.46%) at 15,447.03 and the NSE Nifty is trading lower by 21.50 points or (0.47%) at 4,583.50.

The BSE Mid Cap is trading lower by 9.26 points at 5,599.63 while the BSE Small Cap grew by 20.69 points or (0.32%) to 6,407.74.

ONGC reported the top gainer from the BSE Sensex pack, as it is trading up by (3.33%) at Rs.1,203.15 while Jai Prakash Associate reported the top loser trading down by (2.21%) at Rs. 219.35.

The Overall market breadth is positive as 965 stocks are advancing while 831 stocks are declining and the 59 stocks remained unchanged on BSE.

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. Upward movement was also contributed by the news that the German and French economies both exceeded expectations by posting second quarter growth of 0.3%. The Dow Jones Industrial Average (DJIA) ended up by 36.58 points at 9,398.19, NASDAQ index inclined by 10.63 points to 2009.35 and the S&P 500 (SPX) closed higher by 6.92 points at 1,012.73.

Asian markets were trading mixed today as the Nikkei 225, Straits Times and Seoul Composite index are trading up by (0.79%), (0.24%) and (1.27%) respectively. Whiel Hang Seng index is trading down by (0.79%).

BSE Consumer Durable index advanced by 23.88 points or (0.78%) at 3,091.31. The top gainers are Gitanjali Gems grew by (3.78%) to Rs.112.50, Rajesh Export inclined by (3.11%) to Rs.44.70 followed by Titan Industries increased by (1.28%) to Rs.1,210.

BSE Metal index grew by 90.73 points or (0.71%) at 12,870.45. The top gainers are Jindal Saw grew by (2.46%) to Rs.579.90, Sterlite Industries inclined by (1.65%) to Rs.671, SAIL increased by (1.56%) to Rs.173 followed by Nalco up by (1.25%) to Rs.323.50.

Sterlite Industries is trading higher by (1.72%) at Rs. 670.30 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 (1.20%) at Rs. 2,334.75.