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Sat, 2nd May 2009  The benchmark indices rallied smartly on the back of positive global cues and ended the session as well as April series on a strong note. This uptrend was supported by technology, oil & gas, metal, rate sensitives and infrastructure stocks followed by midcaps and smallcaps. The Sensex surpassed the 11,400 level while the Nifty closed above the 3450 level; both the indices recovered all of Tuesday's losses.
The 30-share BSE Sensex shut shop at 11,403.25, with a gain of 401.50 points or 3.65% over previous close, and ended this truncated week with a gain of 0.65%. The 50-share NSE Nifty surged 3.32% or 111.60 points, to settle at 3,473.95 and lost 0.2% this week.
Leading heavyweights like Reliance Industries, ONGC, Bharti, Infosys, ICICI Bank, NTPC, BHEL, SBI, TCS, Wipro, HUL and HDFC gained 2.5-9%.
The Sensex ended the April series with 17.5% gain while the Nifty surged 15% from the closing of March series, which were at 9708.50 and 3020.95, respectively. But the experts are cautious for the May series.
R Venkat Subramanium, Head-Alternate Investments Group, Kotak Securities, said he would be extremely cautious while stepping into the May series.
Ajay Loganadan, Head-Investment Advisory Group Private Banking, HSBC Private Banking also said, "We have got enough uncertainty in May, one is election results; secondly on May 4 we get the stress test result from the global banks. Today’s news was that 6 out of 19 will need additional capital. So there is some amount of uncertainty given the month ahead."
Indian markets are closed on Thursday and Friday.
On the sectoral front, the BSE IT Index was up 5% and the Bankex shot up 4.5%. The Oil & Gas Index went up 3.5%. Power, Auto, Metal, Realty and Capital Goods indices gained 2-3%.
Volumes increased as compared to previous session but did not cross Rs 1 lakh crore mark. Total traded turnover was at Rs 99,710.81 crore. This included Rs 15,501.44 crore from NSE cash segment, Rs 80,063.40 crore from NSE F&O and the balance Rs 4,145.97 crore from BSE cash segment.
Global markets also bounced back in today's trade. At the time of closing of Indian equities, European markets were trading higher. The FTSE went up 45 points, to 4,141. The CAC was trading at 3,094, up 43 points and the DAX rose 48 points, to 4,655.
Among the US futures, the Dow Jones futures were trading at 8,043, up 76 points and the Nasdaq futures went up 12.25 points, to 1,372.75.
Asian markets rallied strongly; Shanghai, Hang Seng, Seoul Composite and Jakarta Composite gained 2.76-3%. Straits Times was up 2.28% and Taiwan Weighted rose 0.31%. Nikkei shut today.
Sectoral indices
The BSE IT Index outperformed other indices, surged 125.51 points or 4.95%, to settle at 2,663.35. Infosys, Wipro, TCS, HCL Tech and Tech Mahindra were up 3-5.3%.
Bank and oil & gas were other strong supportive sectors in today's trade; the BSE Bankex shot up 4.47% or 243.47 points, to 5,685.22 and the Oil & Gas Index went up 273.82 points or 3.48%, to 8,132.62.
Among the banking stocks, ICICI Bank surged 8.74%. Axis Bank, SBI, HDFC Bank and PNB were up 1-4.7%.
In the oil & gas space, ONGC, Reliance Industries and Reliance Petroleum gained 3.7-4%.
Power stocks charged up; Tata Power, Suzlon Energy, Reliance Infrastructure, GVK Power, GMR Infra and NTPC went up 2.4-6.6%. Respective Index rose 3.17% or 64.87 points, to 2,112.76.
Buying was also seen in auto, metal, realty and capital goods stocks; BSE Auto Index was up 99.22 points or 2.92%, to close at 3,498.24, as Ashok Leyland, Hero Honda and Tata Motors were up 4-5.7%. Bharat Forge, M&M and Maruti Suzuki gained 1.9-3.9%.
Sterlite Industries, JSW Steel, Hindustan Zinc, Jindal Saw, Tata Steel and SAIL went up 1-6.8% in the metal space. Respective Index shut shop at 6,885.81, up 2.84% or 190.25 points.
The Realty Index went up 2.6% or 53.94 points, to 2,130.41, as HDIL, Puravankara Projects, Akruti City, Indiabulls Real, DLF and Unitech gained 2.7-5.5%.
Capital Goods stocks like Siemens, BHEL, Punj Lloyd and ABB shot up 2-4.9%; L&T was up 0.79%, which helped the respective index to close 2.24% or 173.54 points higher at 7,908.75.
The BSE FMCG Index rose 1.53% or 31.62 points, to 2,095 and the Healthcare Index went up 30.14 points or 0.99%, to 3,067.98.
Broader indices also followed the same trend; the BSE Midcap Index closed 63.15 points or 1.83% higher at 3,513.86 and the Smallcap Index went up 1.35% or 52.58 points, to settle at 3,940.90.
Among the midcap stocks, Dish TV India, Nirma, LIC Housing Finance, SKF India and Welspun Gujarat gained 9.6-11.7%.
In the small cap space, JK Tyre, Shanthi Gears, Zylog Systems, Ceat and Garden Silk Mills shot up 10-15%.
Leading sugar stocks like Bajaj Hindusthan, Balrampur Chini, Dwarikesh Sugar, Oudh Sugar Mill, Shree Renuka and Triveni Engg were up 5-7.5%.
The market breadth was positive due to gain in broader indices; about 1667 shares advanced while 1305 shares declined. Nearly 138 shares remained unchanged.
Nifty above 3450; IT, Bank, Oil, Power indices up 3-5%
At 15:03 hours IST, the markets were witnessing huge buying interest on the back of uptrend in oil & gas, power, technology, banking, metal, realty, FMCG and select telecom stocks. Positive global cues were also supportive to our markets.
Heavyweights like Reliance Industries, ONGC, NTPC, Infosys, Bharti, ICICI Bank, TCS, Wipro, HUL, BHEL, SBI, HDFC and Reliance Communication surged 2.5-8.5%.
The Sensex was trading at 11,377, up 375 points and the Nifty was up 105 points, to 3,467, at 15:03 hours IST. Rollovers were increasing; marketwide and stocks futures rollover were seen at 64% each and the Nifty futures have seen a rollover of 63%. The Nifty May futures were trading in premium. Broader indices - BSE Midcap and Smallcap indices were up 1.4-1.8%.
The market breadth was positive; about 1642 shares advanced while 1322 shares declined. Nearly 146 shares were unchanged.
BSE IT, Bank, Oil & Gas, Power, Auto, Metal, Realty, Capital Goods indices were up 2-5%
Among the midcap stocks, Nirma, LIC Housing Finance, SKF India, Welspun Gujarat and Dish TV India were up 9.5-12.5%. In the smallcap space, JK Tyre & Industries, Shanthi Gears, Zylog Systems, Balaji Telefilm and Ruby Mills gained 12-16.5%.
European markets were trading higher. The FTSE went up 27 points to 4,123. The CAC was up 34 points, to 3,085 and the DAX was trading at 4,643, up 36 points.
Mkts surge; IT, banks, oil & gas, power gain
At 14.05 hrs IST, the markets were trading higher. All the BSE sectoral indices were trading positive. Good buying interest was seen in IT, banks, oil & gas, power, auto, realty, metal and FMCG stocks. Reliance, Infosys, ICICI Bank, ITC and Bharti Airtel were positive contributors to the Sensex.
The Sensex was up 234.94 points or 2.14% at 11236.69, and the Nifty was up 72.95 points or 2.17% at 3435.30, at 14.05 hrs IST.
The market breadth was positive, about 1593 shares advanced, 1370 shares declined, and 147 shares were unchanged.
Andrew Holland, CEO, Institutional Equity and Equity Proprietary Trading, Ambit Capital, is surprised by the extent of rally. "It is based on liquidity momentum, and is not factoring a positive election outcome." He sees more risks on the downside in the current environment. "The markets may re-test lows in coming months. We see Sensex trading ranged between 7,500 and 10,500 levels."
Top gainers on the Sensex were Infosys at Rs 1,493 up 4.29%, HDFC at Rs 1,741.90 up 4.24%, ICICI Bank at Rs 457.65 up 4.17%, HUL at Rs 233.50 up 3.73% and Sterlite Ind Rs 397.00 3.60%.
The BSE midcap and smallcap indices were up 1% each.
Top gainers on the BSE Midcap - Nirma, SKF India, Patni Computer, LIC Housing Fin and Bajaj Hind were up 6-13%
Top gainers on the BSE Smallcap - JK Tyre & Ind, Shanthi Gears, Zylog Systems, Ceat and Noida Toll were up 9-16%.
Nifty holds 3400; RIL, ONGC, Infy, HDFC, ICICI Bank lead
At 13:08 hours IST : Continuous buying in shares of oil & gas exploration, banking, technology, power, telecom and FMCG was aiding the markets to trade strong.
The Sensex was trading at 11,230, up 229 points and the Nifty went up 69 points, to 3,431, at 13:08 hours IST. Broader indices - BSE Midcap Index was up 0.8% and Smallcap Index gained 1%.
Among the frontliners, Infosys, DLF, ICICI Bank, Sun Pharma, Wipro, Suzlon Energy, Hero Honda and HDFC were top gainers, went up 3.5-6%.
On the sectoral front, BSE IT Index shot up 3.5%. Bank and Oil & Gas indices gained 2% each. Realty, Power, Auto, FMCG and Healthcare indices rose 1-1.9%.
Unitech, Reliance Industrial Infrastructure, Reliance Industries, Tata Steel, Reliance Capital, ICICI Bank, Bharti Airtel and Jaiprakash Associates were most active shares on the bourses.
Among midcap stocks, Nirma and SKF India were up 12-14%. Patni Computer, Balrampur Chini and Puravankara Projects gained 5-7%. However, BF Utilities, Indiabulls, Anant Raj Industries, IVRCL Infrastructure and Jai Corp fell 4-5%.
In the smallcap space, Shanthi Gears, Ceat, Noida Toll, Zylog Systems and Natco Pharma rose 10-12.6%. However, Zodiac Clothing, Solar Industries, UB Holdings, Nucleus Software and Uflex declined 5-7%.
European markets were positive; the FTSE went up 7 points, to 4,103. The CAC was trading at 3,075, up 24 points and the DAX was up 31 points, to 4,638.
Mkts trade strong; IT, financials, telecom, power lead
At 11:51 hours IST, the markets moved up further following strong Asian markets. Buying continued in shares of telecom, banking, oil & gas, technology, power and metal companies while select shares of auto and oil marketing companies were under pressure. The Nifty was consistently trading above the 3400 mark while the Sensex above the 11,200 level.
There was a bit of selling pressure at higher levels ahead of F&O expiry. 90% of CNBC-TV18 poll respondents see expiry for April series around 3400, whereas, 10% of them feel expiry for April series will lie between 3300-3350.
Tushar Mahajan of Edelweiss Securities said, "The Nifty should close around 3400-3420 today."
The Sensex went up 227 points, to 11,228 and the Nifty was trading at 3,431, up 69 points, at 11:51 hours IST. These indices outperformed broader indices - BSE Midcap and Smallcap indices gained 0.8-1%.
Reliance Industries, ONGC, Reliance Communication, Infosys, TCS, NTPC, SBI, ICICI Bank, BHEL, HDFC, Wipro and DLF were leading counters, gained 2.2-4%.
The market breadth was weak on the BSE; about 1557 shares advanced while 1397 shares declined. Nearly 156 shares were unchanged.
BSE IT Index was up over 3%, as Infosys, Wipro and TCS rose 2.3-3.7%.
Banking stocks like ICICI Bank, Bank of Baroda, Axis Bank, PNB, SBI and HDFC Bank went up 1.5-3.7%. BSE Bankex gained 2.2%.
Power stocks also charged up; Suzlon Energy, Torrent Power, GMR Infra, Reliance Infrastructure, CESC, NTPC, Tata Power, Reliance Power and Power Grid Corp went up 1.4-5.7%. BSE Power Index was up 2.2%.
BSE Oil & Gas Index went up 2%, as ONGC, HPCL, Reliance Petroleum and Reliance Industries surged 2-3%.
Among other indices, Healthcare, Auto, Realty, FMCG, Metal and Capital Goods indices were up 0.7-0.9%.
Man Industries shot up 10%, as the company bagged the order worth Rs 1,340 crore.
On the global front, Asian markets were trading higher. Kospi, Shanghai and Jakarta Composite were up 2.3-3%. Hang Seng and Straits Times gained 1.6-1.8%. Taiwan Weighted was up 0.31%.
Mkts extend gains; oil & gas, banks, telecom, IT, power up
At 10:43 hours IST - the benchmark indices extended gains on the back of buying in oil & gas, telecom, banking, technology, power and metal stocks. The broader indices were also following the same trend. There was some selling pressure at higher levels.
Reliance Industries, ONGC, Infosys, NTPC, TCS, SBI, ICICI Bank, HDFC, Wipro, BHEL, Reliance Communication, DLF and HDFC Bank were leading players.
The Sensex was trading at 11,167, up 166 points and the Nifty fell 50 points, to 3,412, at 10:43 hours IST. BSE Midcap and Smallcap indices gained 0.9% each.
Deven Choksey, KR Choksey Securities said, "The correction is largely over and I expect the Nifty to settle between 3400-3500 levels on expiry."
The market breadth was positive; about 1586 shares advanced while 1379 shares declined. Nearly 144 shares were unchanged.
Asian markets were trading lower. Shanghai, Hang Seng, Jakarta, Straits Times and Kospi gained 1-2.3%. Taiwan Weighted went up 0.6%.
Mkts bounce back on +ve Asian cues, Bharti earnings
The markets bounced back in the early trade following positive Asian cues and good earnings from Bharti Airtel along with stock split announcement. Metal, banking, telecom and some infrastructure stocks were witnessing buying interest. There was some volatility in the markets ahead of F&O expiry today.
At 9:57 am, the Sensex was trading at 11,141, up 139 points and the Nifty was up 38 points, to 3,400. The CNX Midcap went up 43 points, to 3,847.
Among the frontliners, HDFC, Reliance Communication, Reliance Infrastructure, ICICI Bank, Suzlon, Bharti, Idea, Axis Bank, SAIL, Tata Steel, HDFC Bank and SBI were the gainers.
Unitech (down 7% and still in F&O curb) and HCL Technologies were the losers.
Bharti surged over 2%, after good numbers for the quarter ended March 2009. The company has announced stock split from Rs 10 to Rs 5.
Midcap and Smallcap space
Noida Toll Bridge, Reliance Industrial Infra, Firstsource, Hexaware Tech (post earnings) and City Union Bank gained 4-10%. However, MindTree and India Infoline fell over 2% post earnings.
Global cues
Asian markets were trading higher. Hang Seng, Kospi and Jakarta Composite gained 2.2% each. Straits Times and Shanghai were up over 1%. Taiwan Weighted was up 0.6%. Nikkei shut today.
The US markets slipped in the last minutes of trade on reports that Citi and Bank of America needs additional capital. The markets shrugged off better-than-expected consumer confidence data. Base metals and commodities continued to decline.
There were reports that US regulators have told Citigroup and Bank of America to raise more capital following stress test.
The Dow Jones Industrial Average ended 8 points lower at 8,017 and the Nasdaq Composite ended down 5.6 points at 1,674. The S&P 500 was down 2.3 points at 855.
Commodities
June Crude declined for third day and settled down 0.5% at $49.92 a barrel.
Gold declined 1.6% to $893/ounce and was trading at 3-week low. Silver fell 4.3% to $12.42 an ounce.
Copper slipped 3% to 3-week lows and Nickel fell 5% to $10800/tonne. Tin declined 5% to $11700/tonne.
Market cues:
-World Health Organisation, WHO raises alert level for Swine Flu to 4, this is 2 short of pandemic
-Final FII net buy figure for April 27 at $368.1 m, this includes proceeds from Unitech QIP
-NSE F&O Apr series expiry today, Open Int down by Rs 1398 crore at Rs 90408 crore
-FIIs net sell Rs 257 crore in cash markets on April 28 (prov)
-DIIs net sell Rs 202 crore in cash markets on April 28 (prov)
-FIIs net sell Rs 598 crore in F&O
F&O cues:
-Futures Open Int down Rs 2,023 crore, Options Open Int up by Rs 625 crore
-Stock Futures shed 4.5 crore shares in Open Int, have shed 8 cr shares in last 2 days
-Nifty Futures shed 2 lakh shares in net Open Int
-Nifty Apr at 7-point discount; May at par with spot
-Nifty Futures rollover at 61% versus 65% seen on one day ahead of expiry last series
-Stock Futures' rollover at 54% versus 63% seen on one day ahead of expiry day last series
-Nifty Open Int Put Call Ratio at 1.39 versus 1.51
-Nifty Puts shed 18 lakh shares, Calls add 38 lakh shares in Open Int
-Nifty 3400 Put sheds 15 lakh shares in Open Int
-Nifty 3500 Put sheds 12 lakh shares in Open Int
-Nifty 3300 Call adds 10.6 lakh shares in Open Int
-Nifty 3400 Call adds 12 lakh shares in Open Int  |
