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).

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.

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.

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.

Post Session Indian stock Market Commentary, 13/08/2009

Markets extended its initial upsurge to close near days’ high on significant buying over the ground led by firm global cues. Market rallied sharply following firm European markets along with positive US index futures and higher Asian stocks. Further, strong industrial production (IIP) also boosted investor’s sentiments, which expanded 7.8% in June 2009, at the fastest pace in 16 months. The draft direct tax code, which proposes to reduce tax rates on individual and corporate and scrapping of the Securities Transaction Tax (STT) also contributed to the upward movement across the board. Meanwhile, inflation fell to the lowest in three decades to (-) 1.74% for the week ended 1st August 2009. The BSE Sensex ended above 15,500 level and NSE Nifty closed above 4,600 mark

Market opened significantly up backed by favorable cues from the US markets after Fed reassured of improved outlook for the economy. The US stocks markets closed higher on Wednesday, on improved outlook from the Fed and a cheering housing report. The Federal Reserve kept its benchmark short-term interest rates steady near zero and said it would likely stay there for an extended period. The existing home sales increased 3.8%. Further, the Indian benchmark indices continued to extend gains on positive sentiments led by direct tax code unveiled by the government after the market hours yesterday. Strong global cues also added to the northward journey. During final trading hours, market gained further grounds and concluded its upward journey with strong gains. From the sectoral front, all indices ended in green. Besides, Realty, Metal, Bank, Auto, Capital Goods, FMCG, PSU and Power witnessed most of the buying from these baskets. The BSE Midcap and Smallcap indices also followed same trend.

Among the Sensex pack all 30 stocks ended in green territory. The market breadth indicating the overall health of the market remained extremely positive as 2215 stocks closed in green while 514 stocks closed in red and 62 stocks remained unchanged in BSE.

The BSE Sensex closed higher by 498.33 points or (3.32%) at 15,518.49 and NSE Nifty ended up by 147.50 points or (3.31%) at 4,605. BSE Mid Caps and Small Caps closed with gains of 194.36 and 252.12 points at 5,608.89 and 6,387.05 respectively. The BSE Sensex touched intraday high of 15,545.13 and intraday low of 15,207.96.

Gainers from the BSE Sensex pack are DLF Ltd (7.21%), ICICI Bank (6.53%), Maruti Suzuki (6.41%), Tata Steel (6.04%), Tata Motors (5.86%), Sterlite Industries (5.81%), SBI (5.68%), L&T Ltd (5.20%), ITC Ltd (5.15%), Hindalco (4.93%), Herohonda Motors (4.78%), JP Associates (4.72%), Reliance Infra (3.51%), HDFC (3.21%), Rcom (3.18%) and ONGC Ltd (2.99%).

Inflation fell to (-) 1.74% for the week ended August 1, which is the lowest in three decades, even as prices of essential food items like pulses, cereals fruit and vegetables continued to rise. The wholesale price index during the corresponding week a year ago was as high as 12.91% while in the previous week, it was (-) 1.58%. The food prices continued on a higher path with barley, jowar and gram gaining 2% each and condiments & spices, arhar and fruits & vegetables costlier by 1%. However, the prices of tea fell by 9% in the concerned week.

In order to reduce the tax burden and streamline the over four-decade-old income tax, the government proposed radical tax reforms through a draft code. As per the proposal, the tax rates on individuals are set to decline to 10% for incomes up to Rs 10 lakh while 20% for up to Rs 25 lakh and 30% for above that. Moreover, the incentives on savings are also set to rise to Rs 3 lakh, even as securities transaction tax (STT) is scrapped, capital gains tax unified to one in the long and short term and wealth tax slashed to 0.25% from one per cent with an increase in limit to Rs 50 crore.

On the global markets front the Asian markets that opened before the Indian market, ended up. Shanghai Composite, Hang Seng, Nikkei 225 and Singapore''s Straits Times Index ended higher by 27.84, 426.06, 82.19 and 42.87 points at 3,140.56, 20,861.30, 10,517.19 and 2,614.18 respectively. However, Seoul Composite dropped slightly by 0.71 points at 1,564.64.

European markets, which opened after the Indian market, are trading in green. In Frankfurt the DAX index is trading higher by 79.89 points at 5,428.98 and in London FTSE 100 is trading up by 53.19 points at 4,769.95.

The BSE Realty index outperformed the benchmark indices as gained (6.86%) or 258.67 points at 4,031.26. Gainers are Parsvnath (9.96%), Housing Dev (9.05%), Ansal Infra (9.02%), Penland Ltd (8.53%) and Omaxe Ltd (8.40%).

The BSE Metal index advanced by (5.57%) or 674.63 points at 12,779.72. Scrips that gained are Jindal Saw (9.62%), Ispat Industries (7.73%), JSW Steel (7.69%), Gujarat NRE C (6.71%) and Sesa Goa Ltd (6.19%).

The BSE Auto index closed higher by (4.41%) or 237.90 points at 5,627.82. Gainers are Maruti Suzuki (6.41%), Tata Motors (5.86%), Ashok Leyland (5.57%), Cummins Indi (5.10%) and Herohonda Motors (4.78%).

The BSE Bank index gained (4.34%) or 347.13 points at 8,354.08. Main gainers are Yes Bank (6.92%), ICICI Bank (6.53%), SBI (5.68%), Kotak Bank (5.64%) and IDBI Bank (5.46%).

The BSE Capital Goods index ended up by (4.20%) or 500.28 points at 12,417.75. Gainers are Usha Martin (13.25%), Kalpat Power T (8.22%), L&T Ltd (5.20%), SKF India (4.96%) and Suzlon Energy (4.87%).

The BSE FMCG index increased by (3.94%) or 97.98 points at 2,585.28. As Ruchi Soya (9.79%), United Spr (5.23%), ITC Ltd (5.15%), Godrej Cons (4.64%) and Colgate Palm (3.78%) ended in green.

L&T Ltd surged 5.20%. The company has signed a Rs 4,000-crore agreement to supply power equipment to Jaypee Group-promoted Jaiprakaskh Power Venture (JPVL). Under the agreement, L&T will supply boiler and steam turbine generator to a thermal power project in Nigrie, Madhya Pradesh.

Orchid Chemicals advanced by 3.90%. The company has received the final approval from the US Food and Drug Administration (US FDA) for its drug Sumatriptan Succinate tablets, 25. mg, 5.0 mg and 100 mg.

Adlabs films ended up by 4.17%. The Board of Adlabs Films Limited {Adlabs) approved raising an amount upto Rs. 600 crore (US $ 124 million) by way of rights offer of equity shares to the Company’s shareholders, subject to necessary sanctions and applicable provisions of law.

National Aluminium Company Ltd spurted 3.89% after the company raised aluminium prices for the second time this month following a rise in international prices of the metal.

Mastek Ltd gained 1.97% after the company launched a platform for life insurance carriers for India and Asia Pacific markets.

Dr. Reddy''s Lab went up by 0.89%. The company has launched Strea Professional, the company''s first product in the non-invasive aesthetics segment in India.

Indian stock Market Commentary Headline : Post Session Market

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).

Indian stock Market Commentary Headline : Post Session Market

Markets closed the unstable session on a lackluster note on the back of huge selling pressure over the indices, offsetting gains in Asian Stocks. Lower than normal monsoon rains and spread of the deadly swine flu in the country fueled the sentiment. On the other hand, negative European markets along with lower US index futures also weighed on the attitude of the investors. However, stocks witnessed upward movement at the initial stage on better than expected news about U.S. job losses. The BSE Sensex ended below 15,050 level and NSE Nifty closed below 4,450 mark.

Market belled the day on positive note backed by the firm cues from the US and Asian markets. The US stocks markets closed higher on Friday by logging impressive gains for the week due to the better-than-expected jobs report. Moreover, US jobs report revealed that fewest amount of job losses in nearly one year by coming in at 247,000 for July as against the consensus estimate called for 350,000 job losses. Further, Indian benchmark indices turned volatile soon after start and pared all initial gains. However, market managed to regain strength and moved into positive before losing strength yet again. Going ahead, stocks continued to swing between positive and negative terrain without any sign of recovery. During the final trading hours, market slipped sharply to close with losses on weak European markets. Investors’ were also worried on lesser than normal rain that may interrupt a hopeful revival in the domestic economy. From the sectoral front, most of the selling was observed in Auto, FMCG, Capital Goods, Realty, PSU, Power and Bank stocks. The border market indices also followed the same trend as BSE Midcap and Smallcap indices ended with losses of more than 2% each. However, IT and Teck stocks remained in limelight as witnessed most of the buying from these baskets.

Among the Sensex pack 23 stocks ended in red territory and 7 in green. The market breadth indicating the overall health of the market remained negative as 1800 stocks closed in red while 850 stocks closed in green and 76 stocks remained unchanged in BSE.

The BSE Sensex closed lower by 150.47 points or (0.99%) at 15,009.77 and NSE Nifty ended down by 43.75 points or (0.98%) at 4,437.65. BSE Mid Caps and Small Caps closed with losses of 92.77 and 120.73 points at 5,340.48 and 6,073.03 respectively. The BSE Sensex touched intraday high of 15,417.34 and intraday low of 14,902.02.

Losers from the BSE Sensex pack are M&M Ltd (9.12%), ACC Ltd (6.52%), Herohonda Motors (3.80%), HUL (3.48%), Tata Motors (3.27%), Maruti Suzuki (3.09%), Grasim Industries (3.00%), ITC Ltd (2.69%), ICICI Bank (2.54%), Bharti Airtel (2.51%), HDFC (2.09%), L&T Ltd (1.84%), JP Associates (1.83%), SBI (1.72%), DLF Ltd (1.52%), BHEL (1.41%) and RCom (0.96%).

Gainers from the BSE Sensex pack are TCS (6.02%), Wipro Ltd (2.80%), Infosys Tech (2.20%), Tata Power (2.12%), ONGC Ltd (1.90%), Hindalco (0.69%) and Sterlite Industries (0.50%).

On the global markets front the Asian markets that opened before the Indian market, ended mostly higher as better-than-expected news about U.S. job losses and Japan''s business spending raised hopes for recovery of the world''s two largest economies. Nikkei 225, Hang Seng and Seoul Composite ended higher by 554.15, 112.17 and 0.11 points at 20,929.52, 10,524.26 and 1,576.11 respectively. However, Shanghai Composite lost 10.93 points at 3,249.76. Singapore''s Straits Times Index remained closed in observance of National Day and it will re-open on Tuesday.

European markets, which opened after the Indian market, are trading in red. In Frankfurt the DAX index is trading down by 41.89 points at 5,417.07 and in London FTSE 100 is trading lower by 33.26 points at 4,698.30.

The BSE Auto index dropped by (4.52%) or 246.82 points at 5,210.27 on profit booking. Scrips that lost are M&M Ltd (9.12%), Bajaj Auto (9%), Escorts Ltd (5.07%), Bharat Forge (4.60%) and Apollo Tyre (4.11%).

The BSE FMCG index lost (2.96%) or 75.5 points at 2,479.02 on concerns over annual monsoon. Main losers are Colgate Palm (8.11%), United Spr (5.03%), HUL (3.48%), Marico Ltd (2.86%) and Godrej Cons (2.78%).

The BSE Capital Goods index dropped by (2.03%) or 247.11 points at 11,909.91. Losers are Suzlon Energy (6.67%), Praj Industries (6%), Aiaengineer (5.45%), Punj Lloyd (4.81%) and Gammon Indi (4.79%).

The BSE Realty index plunged (1.66%) or 61.14 points at 3,615.81. Losers are Pheonix Mill (8.01%), Sobha Dev (4.61%), Ansal Infra (4.15%), Ackruti (2.96%) and Omaxe Ltd (2.36%).

The BSE Consumer Durables index ended down by (1.49%) or 44.94 points at 2,968.31. As Gitanjali GE (6.09%), Rajesh Export (5.40%) and Videocon Ind (3.25%) ended in red.

The BSE IT index closed higher by (2.64%) or 103.31 points at 4,022.43 as better than expected US jobs data raised hopes for a recovery in the world''s largest economy. Gainers are Patni Computer (7.04%), Mphasis Ltd (6.02%), TCS Ltd (6.02%), Wipro Ltd (2.80%) and Infosys Tech (2.20%).

IDBI Bank dropped by 2.50%. The bank has slashed the interest rates on deposits in the range of 25 basis points to 50 basis points across various maturities effective August 12. Along with this, the bank has also announced reduction of one percentage point in lending rates for automobile loans. The bank has not made any changes in rates for deposits up to six months and all changes are for duration beyond six months.

Reliance Communications Ltd lost 0.96%. The company has posted a net profit of Rs 48026.50 million for the year ended March 31, 2009 as compared to Rs 25864.40 million for the year ended March 31, 2008. Total Income has increased from Rs 134266.50 million for the year ended March 31, 2008 to Rs 136946.70 million for the year ended March 31, 2009.

Hindustan Unilever Ltd slumped 3.48% after four lakh shares changed hands in two block deals on NSE.

Mundra Port and Special Economic Zone Ltd gained 3.36%. The largest private port in India has won the bid for the development of coal handling terminal at port of Mormugao, Goa, on design build, finance, operate and transfer (DBFOT) basis.

Austral Coke and Projects Ltd advanced by 5.01%. The company through its Guinea based sub-subsidiary Astra Energy Ltd SARL, has acquired 16 prospecting licenses of rich iron ore, bauxite and manganese ore blocks measuring 12,63,000 acres in Guinea in West Africa. The contract term is for 30 years with an extendable term of another 30 years.

Nucleus Software Exports Limited went up by 3.64%. The company has won a core banking order for their product FinnOne from Malayan Bank, Philippines for the implementation of Complete Banking Solution to enhance bank''s operations. Complete suite of FinnOne will be implemented at 9 branches of the bank including the head office.

Post Session Stock Market Headline

Indian stock market concluded its journey for the week on weak note on account of sustained selling over the ground. Cues from the market all over the world were unfavorable, which contributed to the downward journey of the domestic bourses. Consequently, lower US index futures and weak European markets took beating on the bourses. Poor monsoon also played a key role to add to the gloom. However, market tried to recover during initial trading after the report that IPO of state-run NHPC was fully bid. NHPC is planning to raise Rs 6,040 crore at the upper end of the issue price band of Rs 36. The government has kick started the divestment process by selling shares in NHPC. Meanwhile, the recovery was momentary and stocks slipped again. The BSE Sensex ended below 15,200 level and NSE Nifty closed below 4,500 mark.

Market extended yesterday’s losses and opened sharply lower backed by negative cues from the global markets. The US stocks markets ended on downbeat note on Thursday for the second straight session after a solid start. The major indices opened higher following smaller-than-expected weekly initial jobless claims, even though continuing claims were more-than-expected. Further, benchmark indices were trading with volatility and managed to lessen some of the losses. However, market was unable to hold the same momentum and slipped again as profit booking continued across the sectorial indices. Further, the weak cues across the Asian markets also fueled the sentiments today. Market continued to extend losses and slipped sharply during final trading to end the day with huge losses. From the sectoral front, all indices closed in red. Among those, Consumer Durables, Auto, Realty, Bank, Power, Capital Goods, FMCG and Metal stocks were major draggers, which pulled down the market. Continuous selling also pulled down the border market indices as BSE Midcap and Smallcap indices ended lower.

Among the Sensex pack 27 stocks ended in red territory and 3 in green. The market breadth indicating the overall health of the market remained negative as 1922 stocks closed in red while 748 stocks closed in green and 78 stocks remained unchanged in BSE.

The BSE Sensex closed lower by 353.79 points or (2.28%) at 15,160.24 and NSE Nifty ended down by 104.10 points or (2.27%) at 4,481.40. BSE Mid Caps and Small Caps closed with losses of 126.01 and 121.03 points at 5,433.25 and 6,193.76 respectively. The BSE Sensex touched intraday high of 15,501.94 and intraday low of 15,104.

Losers from the BSE Sensex pack are RCom (5.79%), JP Associates (5.46%), M&M Ltd (5.41%), Maruit Suzuki (5.33%), Tata Power (4.78%), BHEL (4.11%), Bharti Airtel (3.88%), ICICI Bank (3.62%), HUL (3.35%), SBI (3.08%), DLF Ltd (3.05%), Sterlite Industries (2.96%), Herohonda Motors (2.51%), Reliance Infra (2.48%), Reliance (2.47%), Hindalco (2.27%), TCS Ltd (1.82%), ITC Ltd (1.56%), HDFC Bank (1.50%) and ACC Ltd (1.45%).

Gainers from the BSE Sensex pack are NTPC Ltd (0.71%), Tata Steel (0.31%) and Wipro Ltd (0.13%).

On the global markets front the Asian markets that opened before the Indian market, ended mostly lower. Shanghai Composite, Hang Seng and Straits Times ended down by 95.64, 523.87 and 52.15 points at 3,260.69, 20,375.37 and 2,549.35 respectively. However, Nikkei 225 and Seoul Composite gained 24 and 10.96 points at 10,412.09 and 1,576 respectively.

European markets, which opened after the Indian market, are trading in red. In Frankfurt the DAX index is trading down by 34.70 points at 5,354.28 and in London FTSE 100 is trading lower by 50.55 points at 4,639.98.

The BSE Consumer Durables index closed lower by (3.92%) or 122.85 points at 3,013.23. Losers are Videocon Ind (5.44%), Rajesh Export (4.80%), Titan Ind (4.11%), Gitanjali GE (3.93%) and Blue Star L (2.14%).

The BSE Auto index dropped by (3.87%) or 219.86 points at 5,457.09 on profit booking. Scrips that lost are Bajaj Auto (7.10%), M&M Ltd (5.41%), Maruti Suzuki (5.33%), Apollo Tyre (4.18%) and MRF Ltd (3.78%).

The BSE Realty index plunged (3.29%) or 125.25 points at 3,676.95. Losers are Anant Raj (8.08%), Ansal Infra (6.68%), Unitech Ltd (5.70%), Parsvnath (4.36%) and Mahindra Life (4.17%).

The BSE Bank index ended down by (2.96%) or 247.3 points at 8,110.98. As IDBI Bank (6.38%), Canara Bank (5.38%), Indian Overseas Bank (4.69%), Yes Bank (4.20%) and Punjab National Bank (3.68%) ended in red.

The BSE Power index lost (2.65%) or 77.52 points at 2,848.15. Main losers are Suzlon Energy (5.95%), Tata Power (4.78%), BHEL (4.11%), Torrent Power (4.09%) and Siemens Ltd (3.43%).

The BSE Capital Goods index dropped by (2.39%) or 297.35 points at 12,157.02. Losers are Suzlon Energy (5.95%), Walchand In (5.21%), Praj Industries (5.06%), Jyoti Sturct (4.95%) and SKF India (4.64%).

Indiabulls Financial Services Ltd sunk 5.27% after a block deal of 62.50 lakh shares was executed on NSE at Rs. 187.95 per share.

Ashok Leyland Ltd plunged 3.41% on poor sales in July 2009.

Dewan Housing Finance Corporation Ltd slipped 1.65% on reports a unit of the company will float a private equity fund in joint venture with a US firm.

Jagran Prakashan fell 2.38% after a block deal of 9.50 lakh shares was executed on NSE at Rs. 89.05 per share.

Aurobindo Pharma Limited dropped by 0.19%. The company announced that it has received the final approval for Carisoprodol Tablets USP 350mg (ANDA 40-792) from the US Food & Drug Administration (USFDA). Aurobindo now has a total of 100 ANDA approvals (71 Final approvals and 29 Tentative approvals) from USFDA.

Tata Power plunged 4.78%. The company is eyeing big as it has lined up capital expenditure plan of Rs 29,300 crore for the next three years. Out of this, Rs 9,800 crore would come from internal accruals and the company would raise about Rs 18,000 crore debt, said the Chairman, Mr Ratan Tata, addressing shareholders at the company''s annual general meeting on Thursday.

Tata Steel increased by 0.31%. The company witnessed an 18% increase in its net sales during July to 4.78 lakh tones while last year its sales stood at 4.05 lakh tones due to the strong demand from the auto and construction sectors. Additionally, steel production increased by 24% to 5.39 lakh tonnes last month as against 4.35 tonnes in July 2008 whereas Tata''s hot metal production too went up to 5.97 lakh tones as compared to 4.82 lakh tonnes produced in 2008, rising by 24%.

Post Session Indian stock Market Commentary Jul-31-2009

The domestic stock market closed on a firm note on last hour substantial buying in index heavyweights like Hindalco, Tata Motors, ONGC and SBI that closed more than 5% each. The speculators took fresh positions on the first day of the August future and option series. After a strong opening, the key benchmark indices gained more strength and continued its northward journey, hitting their highest level in more than a year coupled with positive cues from the global markets and better than expected India Inc. results. Also, the domestic markets have joined the rally across US and Asian markets with the hope of global economic recovery on track backed by solid overseas corporate results. World equity funds gathered $9.5 billion in the week ending 29 July 2009, as per global fund tracker EPFR Global, highest since June 2008. BRIC (Brazil, Russia, India and China) equity funds seeing net inflows for a 19th consecutive week. India equity funds took in a year-to-date high of $211 million in the most recent week, while China and Greater China stock funds reported $711 million in fresh money. The BSE Sensex ended above15,350 level and NSE Nifty closed above 4,550 mark.

The market opened with strong gains and kept on marching forward till the mid session however, selective profit booking in the late after noon trade led the market to shed most of its gains tracking the weakness in the European markets. However, the market gained strength in the last hour on substantial buying across the counter. The US stock markets on Thursday closed higher. Better than expected earnings report and lack of negative news helped markets gain at broader level. The markets witnessed broad based buying effort along with shot covering. The material sector was in the limelight supported by higher commodity prices and also Dow Chemical (DOW 21.51, +1.24). Visa (V 67.05, +0.27) and MasterCard (MA 194.17, +5.62) both reported upside earnings results of their own and also provided support to the financial sector. The northward movement in the markets was supported by news that the four-week moving average for initial jobless claims fell to its lowest level in months, even though weekly claims climbed more than expected. During final trading hours, market witnessed sharp gains on good buying interest backed by rise in Asian stocks. From the sectoral front, the realty stocka witnessed heavy selling pressures while FMCG along with Oil & Gas and Bankex indices attracted investors’ confidence to close with decent gains.

Among the Sensex pack 23 stocks ended in green territory and 7 in red. The market breadth indicating the overall health of the market remained positive as 1,401 stocks closed in green while 1,299 stocks closed in red and 101 stocks remained unchanged in BSE.

The BSE Sensex closed higher by 282.35 points or (1.83%) at 15,670.31 and NSE Nifty ended up by 65 points or (1.42%) at 4,636.45. BSE Mid Caps and Small Caps closed with gains 64.62 and 1.82 points at 5,571.02 and 6,205.83 respectively. The BSE Sensex touched intraday high of 15,732.81 and intraday low of 15,449.47.

Gainers from the BSE Sensex pack are Hindalco (6.65%), Tata Motors (6.61%), ONGC (5.91%), SBI (5.29%), HUL (3.32%), Reliance Inds (3.01%), ITC (2.99%), Sterlite Inds (2.91%), HDFC Bank (2.73%) and HDFC (2.69%).

Losers from the BSE Sensex pack are Bharti Airtel (3.06%), Reliance Communication (2.11%), Hero Honda (2.08%) and DLF (1.48%) and NTPC (0.78%).

On the global markets front, the Asian markets that opened before the Indian market, ended higher. Shanghai Composite, Nikkei 225, Hang Seng , Seoul Composite and Straits Times ended up by 2.72%, 1.89%, 1.68%, 1.47% and 0.87% at 3,412.06, 10,356.83, 20,573.33, 1,557.29 and 2,659.20 respectively.

The BSE FMCG index ended up by (3.17%) or 84.01 points at 2,738.15. Scrips that gained are United Spirits (6.40%), Nestle Ltd. (6.40%), HUL (3.32%), Tata Tea (3.27%), Godrej Consumer (2.61%) and Ruchi Soya (2.52%).

The BSE Oil and Gas index closed higher by (2.65%) or 245.45 points at 9,480.09. ONGC (5.91%), Aban Offshore (4.57%), Essar Oil (3.89%), Reliance Industries (3.01%) and RPL (2.53%) ended in green territory.

The BSE Bankex index increased by (1.92%) or 159.85 points to close at 8,465.76. Main gainers are SBI (5.29%), Kotak Bank (4.03%), HDFC Bank Ltd. (2.73%), Indus Ind Bank (2.54%), Bank of Baroda (2.50%) and Canara Bank (2.24%).

The BSE IT index advanced by (1.81%) or 70.28 points at 3,962.12. Gainers are Patni Computer (10.31%), Financial Technologies (4.06%), Oracle Fin (5.52%), Infosys Technologies (2.66%) and Mphasis Ltd. (1.23%).

The BSE Consumer Durable index gained (1.60%) or 49.01 points at 3,119.09. Blue Star Ltd. (4.12%), Titan Industries (1.27%) and Gitanjali Gems (1%) closed in positive territory.

The BSE Metal index ended higher by (1.47%) or 180.11 points at 12,395.26. Scrips that gained are Hindalco Industries (6.65%), Gujarat NRE (5.09%), NALCO (5.15%), Sesa Goa (3.82%), Sterlite Industries (2.91%), Jindal Saw (2.64%) and Tata Steel (2.12%).

The BSE Realty index ended down by (1.36%) or 53.79 points at 3,908.77. Scrips that lost are Omaxe Ltd. (3.57%), Akruti City (2.91%), Unitech Ltd. (2.01%), Orbit Co (1.78%) and Phoenix Mill (1.66%).

Hindalco Industries Ltd closed up by 6.65% at Rs. 100.20. The company has posted a net profit of Rs 4805.60 million for the quarter ended June 30, 2009 where as the same was at Rs 6967.60 million for the quarter ended June 30, 2008. Total Income is Rs 39748.10 million for the quarter ended June 30, 2009 where as the same was at Rs 48621.90 million for the quarter ended June 30, 2008.

Tata Power Company Ltd closed higher by 0.63% at Rs. 1302.05. The company posted a net profit after tax and Statutoty Appropriations of Rs 3969.70 million for the quarter ended June 30, 2009 as compared to Rs 1625.50 million for the quarter ended June 30, 2008. Total Income has increased from Rs 21133.30 million for the quarter ended June 30, 2008 to Rs 21232.00 million for the quarter ended June 30, 2009.

Aban Offshore Ltd closed up by 4.57% at Rs. 1038.78. The company has posted a net profit of Rs 794.988 million for the quarter ended June 30, 2009 as compared to Rs 715.090 million for the quarter ended June 30, 2008. Total Income has increased from Rs 2714.852 million for the quarter ended June 30, 2008 to Rs 3442.608 million for the quarter ended June 30, 2009.

Great Eastern Shipping Company Ltd (GE Shipping) closed up by 1.94% at Rs. 257.40. The company has posted a net profit after tax of Rs 1262.80 million for the quarter ended June 30, 2009 as compared to Rs 3875.90 million for the quarter ended June 30, 2008. Total Income has decreased from Rs 9914.80 million for the quarter ended June 30, 2008 to Rs 6290.20 million for the quarter ended June 30, 2009.