December 31, 2012

Market Pulse - Dec 31, 2012


Mon, Dec 31, 2012 at 17:00 PM
Markets end flat on global worries.
Markets ended marginally lower as investors remained cautious over US lawmakers not reaching a deal in time to avert the fiscal cliff. Sensex ended down 18 points at 19,427, while Nifty slipped three points at 5,905. Both benchmark indices closed in redin final session for the calendar year 2012, however, both the benchmark indices gained over 25% each in 2012. Sensex and Nifty gained 25.7% and 27.7%, respectively.

Sectoral wise, Realty index jumped 1%, Consumer durables, PSU and Power index were also in the green. Auto index was mixed, while IT index endd lower amid US fiscal cliff.

Among gainers stock, Tata Power, Hindalco, ONGC, Gail And NTPC were noticeable. Tata Motors advanced by 1%. Hero MotoCorp and Mahindra & Mahindra also advanced marginally, while Wipro added 0.80%.

Among looser stock, Larsen & Toubro dropped 0.7%, followed by Cipla, Maruti Suzuki, HDFC and Sun Pharma, while TCS shedding 0.5%.

FMCG shares slipped marginally, after statement from Ministry of Agriculture saying, the sowing of rabi or winter crop is picking up, while sowing of coarse cereals and oilseed crops is higher, after trading hours on friday, ITC down by 0.8%, while Hindustan unilever mangaed to hold gains and closed up by 0.8%.

Shares in Bharti Infratel rose 1% to Rs 193 after the FTSE said on Friday it would include the mobile tower company to its large cap index starting on January 7, with an investability weighting of 9%.

Indian Overseas Bank is planning to raise funds by way of rights issue. The bank informed the BSE that the board has decided that they will be going for a rights issue of 20 crore equity shares of face value of Rs 10 each at a premium to be decided based on the market conditions. Shares of IOB ended up 0.6% at Rs 85.65.

Going forward, markets would be looking at the HSBC India Manufacturing PMI, which gauges the business activity of India's factories, for December 2012 on Wednesday. This will be unveiled by Markit Economics.

BSE market breadth was marginally positive. Out of 3,013 stocks traded, 1,591 shares advanced while 1,296 shares advanced.

Total market turnover on both the Bombay Stock Exchange and National Stock Exchange was Rs 79,000 crore. On the Bombay Stock Exchange, turnover in the cash segment amounted to Rs 1,780 crore while the derivatives segment registered a turnover of Rs 20,944 crore. On the National Stock Exchange, turnover in the cash segment was Rs 7,531 crore while the turnover in the derivatives segment was Rs 48,895 crore.

Mon, Dec 31, 2012 at 15:30 PM
Markets ended marginally lower.
Markets after starting on a slightly listless note, stayed side ways through the session ahead of worries about US fiscal cliff. Sensex ended at 19,418.10 (provisional) with a loss of 26.74 points or 0.14%, while Nifty closed at 5899.65, down 8.70 points or 0.15%.

Capital Goods, FMCG and IT stocks were mostly subdued. Realty, PSU, Power and Automobile stocks found support, while Metal, Healtchare, Bank and Oil stocks mostly ended flat.

Mid-caps were subdued, while some small-cap stocks posted strong gains.

The market breadth was slightly positive.

Mon, Dec 31, 2012 at 14:30 PM
Markets continue lackluster trades
Markets continued to trade negative as worries over US fiscal cliff, as US lawmakers might not reach a deal in time to avert US fiscal cliff, which is due to begin effect tomorrow. Sensex is down by 26 points at 19,418, while Nifty has slipped by 8 points at 5,900.

Sectoral wise, Realty index jumped by 1.13%, Consumer Durables, PSU and Power were also in the green. Auto stocks were mixed ahead monthly sales data for December 2012, with Tata Motors has adding 0.7%, and Hero MotoCorp and Mahindra & Mahindra also advanced marginally.

IT stocks were mostly lower amid concerns about upcoming US fiscal cliff, IT index was down by 0.12%. TCS and Infosys shed half a per cent each, while Wipro added 1.4% to Rs 397. HDFC dropped by 0.6%, followed by Cipla, Maruti Suzuki, Larsen & Toubro and Sun Pharma.

From the gainers - Tata Power, Hindalco, ONGC, Gail And NTPC were noticeable.

Mon, Dec 31, 2012 at 09:30 PM
Markets opened marginally positive.
Markets have opened positive, and declining a bit, is now trading flat in opening trades, amid cautious move by the investors. Sensex, is up by 12 points or 0.06% at 19,456.84 after declining to 19,423, while Nifty is down by 3.40 or 0.06% at 5904.60

December 29, 2012

Weekly Pulse - Dec 29, 2012


Weekly Update - Dec 29, 2012

Shares of oil companies shoot, amid governments diesel price hike.
Shares of Oil & Gas companies were the best performers on the bourses Friday, after the oil ministry announcing proposed minimising fuel subsidies over the next two years by increasing diesel and kerosene prices. The oil ministry proposed raising prices of diesel by Rs 10 a litre over the next 10 months and of kerosene by Rs 10 a litre over the next two years.

BSE’s Oil & Gas index rose 2.4 per cent, while the Sensex gained 0.6 per cent. Among oil marketing companies, HPCL rose 4.2 per cent to Rs 292.90, BPCL gained 2.2 per cent to Rs 353 and IOC rose three per cent to Rs 268.80.

Investors disappointed by Bharti Infratel debut.
Bharti Infratel disappointed investors on its trading debut, with the stock ending 13% below the issue price in its initial public offering (IPO). Analysts said uncertain outlook for the country’s telecom tower business and premium pricing in the IPO, which helped the company raise Rs 4,170 crore, were the main reasons for the weak opening.

Bharti Infratel shares closed at Rs 191.20 on the Bombay Stock Exchange (BSE) and Rs 191 on the National Stock Exchange (NSE). It had offered 160.59 million shares in a price band of Rs 220-Rs 240 and the IPO was priced at the lower end of the band. Retail investors had bid for only 19 per cent of the shares set aside for them despite the offer for getting the units at 10 per cent discount to the issue price. Retail investors got the shares at Rs 210 a piece in the IPO, the biggest after state-run Coal India’s Rs 15,480-crore ($3.5 billion) issue in 2010.

Bharti Infratel has about 34,000 towers and owns 42 per cent of Indus Towers, the world’s largest tower company. Bharti Infratel has a 38 per cent share of India’s telecommunications tower market.

Markets post gains this week.
Markets posted its weekly gain after continues three weeks of down trend, led by Banks, Real-Estate and Oil & Gas sector.

Sensex was up by 121.04 points (weekly) at 19,444.84, while Nifty was up by 38.25 points (weekly) at 5,908.35.

Major stock gainers were, Reliance Industries Limited up by 3%, Hindalco Industries up by 1%, Sterlite Industries up by 2.3%, HDFC up by 0.6%, Infosys and TCS up by 1%, ONGC up by 2.5%, Hero MotoCorp up by 1.3% and MAruti Suzuki up by 1.4%.

Major stock losers were, Sun Pharma down by 1%, Mahindra & Mahindra down by 0.7%, Bharti Airtel down by 0.1%, State Bank of India down by 0.5% and Jindal Steel down by 0.3%.

FII were strong buyers with inflows of over $4 billion this month, totaling for around $24 billion this year.

Investors are likely to focus on India's current account data for July-September due on Monday coupled with any hikein petrol prices by the government to reduce the mounting subsidy burden of oil marketing companies.

Globally, the key focus area will be the progress to avoid 'fiscal cliff' in US that is nearing its deadline of December 31. The Purchasing Manufacturing Index data released by China, US, Europe along with FOMC minutes of the meeting will also gain limelight.

December 28, 2012

Market Pulse - Dec 28, 2012


Fri, Dec 28, 2012 at 16:30 PM
Markets closes positive.
Markets after firm start, retreated a bit on mild selling pressure, but later gained in strength as the session progressed, and finally, despite some selling at a few front line counters, managed to close positive. Sensex, which surged to 19,465.74, ended the day with gain of 121.04 points or 0.63% at 19,444.84, while Nifty surging to high of 5,915.75, closed with gain of 38.25 points or 0.65% at 5,908.75.

Recent announcements on additional incentives to boost exports and the statement from finance minister that the economy will grow at a healthy rate thanks to strong fundamentals and high savings rate helped lift sentiment to an extent. Investors were also betting on hopes the U.S. government would come out with measures to fix the fiscal cliff.

Sectoral wise, PSUs oil stocks had a good day, amid rate hike expectations in fuel prices, leading Oil & Gas index surged by 2.40%. IT sector stocks also started on a subdued note, later gaining in strength, along with select Metal, Consumer Durables, Capital Goods and Power stocks posting impressive gains. However, Automobile, FMCG and Realty stocks found modest support. Bank and Healthcare stocks mostly ending flat, after a choppy ride. While several stocks from the Mid-cap space moved up smartly, buying was quite selective in the Small-cap segment.

Reliance Industries (2.8%) and ONGC (2.5%) rose sharply and contributed substantially to the market's bright close. Infosys chipped in with a smart gain of 1.4%, while Wipro and Tata Consultancy Services ended higher by around 1.3%. Sterlite Industries gained around 2.3%. Hero Motocorp, Maruti Suzuki, GAIL India, Hindalco, HDFC, NTPC, BHEL, Hindustan Unilever, ICICI Bank and Tata Power also closed on a firm note. BPCL, Indian Oil Corporation and Hindustan Petroleum Corporation closed sharply higher on sustained buying interest. IDFC, Cairn India, Sesa Goa, Asian Paints, Siemens and Ambuja Cements also ended higher. Cholamandalam Investment, Kalpataru Power Transmission, Suzlon Energy, Union Bank of India and Karnataka Bank moved higher on stock specific news. Pantaloon Retail gained nearly 7% on impressive volumes. Bharti Infratel made a weak debut. The stock ended at Rs 191, down more than 13% from the issue price of Rs 220. The Bharti Infratel counter on the National Stock Exchange clocked a volume of over 35 million shares today.

Axis Bank, State Bank of India, HDFC Bank, Tata Steel, Mahindra & Mahindra, Sun Pharmaceutical Industries and Dr Reddy's Laboratories ended weak.

Overall market breadth was marginally positive, from 3019 stocks 1514 stocks moved up, while 1371 stocks declined and 134 stocks ended flat.

Fri, Dec 28, 2012 at 14:15 PM
Markets trading firm.
Markets trading firm, with Sensex up by 51.60 points or 0.27% at 19,375.40, around 60 points off the day's high of 19,445.04, while Nifty is up by 17.20 points or 0.28% at 5887.30.

ONGC and Reliance Industries are trading firm, gaining 2.5% and 2%, respectively. Sterlite Industries and Infosys are up nearly 1.5%. Maruti Suzuki, Hero Motocorp and Wipro are trading higher by 1% - 1.4%.

Fri, Dec 28, 2012 at 12:30 PM
Markets firm.
Markets is now trading firm with Sensex gaining 0.54 percent, while Nifty is up 0.56 percent.

Oil companies are leading the gains after petroleum ministry had proposed a gradual rise in diesel prices, by 1 rupee a liter every month over a 10-month period. Fuel subsidies in India are borne by the government, marketing and refining companies, as well as explorers.

Hindustan Petroleum Corp Ltd gains 4.39 percent, Indian Oil Corp Ltd rises 2.72 percent, while Bharat Petroleum Corp Ltd is up 3.81 percent. Oil and Natural Gas Corp shares are up 2.92 percent.

Fri, Dec 28, 2012 at 10:00 AM
Bharti Infratel lists at discount.
Bharti Infratel is trading at Rs 195, a 2.5% discount to its issue price of Rs 200 to retail investors. The stock opened at Rs 200 and hit a high of Rs 201 so far. A combined 7.16 million shares have changed hands on the counter on both the exchanges at 1007 hours.

The issue was subscribed 1.3 times. Of the total shares reserved for retail investors, there were bids for 19%, while non-institutional investor’s category was subscribed 29%. On the other hand, the Qualified Institutional Buyers (QIBs) book, was subscribed 2.84 times

Fri, Dec 28, 2012 at 10:00 AM
Markets edged higher.
Markets after edging higher in early trades is maintaining the early gains. Sensex is up 72 points or 0.37% at 19,395.80, after surging to 19,427.79, while Nifty is up 25 points or 0.41% at 5895.

Hindalco and ONGC are trading stronger by over 2%. Sterlite Industries, Reliance Industries, NTPC, Hero Motocorp, GAIL India, Cipla, Infosys, Maruti Suzuki and BHEL are up 1% - 1.6%.

Among other shares, Suzlon Energy is trading higher by over 4% to Rs 18.75, extending its previous day’s about 2% gain, after the foreign institutional investor, Morgan Stanley Mauritius Company acquired more than 30 million shares of the company from its promoter via an open market transaction.

Shares of public sector undertakings (PSU) oil marketing companies (OMCs) like BPCL, HPCL and IOC are trading higher by up to 4% in morning trades on reports that the Government is looking at the option of increasing diesel and kerosene prices by Rs 10 per litre in phases.

Fri, Dec 28, 2012 at 09:30 AM
Markets edged up.
Markets edged higher in early trades, tracking positive cues from Asian markets. Sensex, which rose to 19,420.52, is currently up by 70 points or 0.35% at 19,393.80. Nifty edged up by 25 points or 0.43% at 5,895.

December 27, 2012

Market Pulse - Dec 27, 2012


Thu, Dec 27, 2012 at 16:30 PM
Markets slipped down.
Markets closed down amid profit booking in IT and index-heavy weights beside lack of concrete resolution to US budget negotiations also fanned risk-off sentiments. Investors off loaded IT stock on the last day of December derivatives expiry as concerns over companies' profitability in the coming quarters weighted on sentiments. Sensex down by 93.66 points or 0.48% at 19,323.80, while Nifty down by 35.50 points or 0.61% at 5,870.10. Sectoral wise, Auto, PSUs, IT, Metals, Consumer Durables, FMCG, Capital Goods all barred down. Mid-cap and Small-cap declined nearly 0.4-0.7%.

On the gainers list were, Tata Motors rising 1.3%, ONGC gaining 1%, Dr Reddy's adding 0.5% and Maruti Suzuki rising 0.15%. The other notable movers include, Aurobindo Pharma gained after the company said it has received final approvals from USFDA to manufacture and market Nafcillin Injections in the United States. Clariant Chemicals (India) moved higher by 3% to Rs 639 after the company said that SK Capital has agreed to purchase textile chemicals, paper specialties and emulsions businesses for an undisclosed amount. Manaksia soared % to Rs 50 on the NSE, ahead of the board of directors meeting today to consider restructuring plans of the company. Hotel Leelaventure surged 2% to Rs 30 on back of heavy volumes on reports that Reliance Industries (RIL) will buy the company’s business park in Chennai for Rs 172 crore. Kalpataru Power Transmission ended higher by 3% at Rs 92 after the company said it has received new orders worth over Rs 955 crore for supply and installation of transmission lines.

While on looser list were, BHEL felling 2%, Reliance Industries declining 1.2%, while Jindal Steel, Sterlite and Hindalco Industries declining over 1.5% each in Metal sector. In Auto sector, Bajaj Auto was down 0.3%, Mahindra & Mahindra and Hero MotoCorp felling 1% and 0.3% while ICICI and HDFC Bank declining 1% and 0.3%.

The overall market breadth was weak as 1,666 stocks declined while 1,230 stocks advanced.

Thu, Dec 27, 2012 at 15:30 PM
Markets slipped down.
Markets after a firm positive start early in the morning could not hang on to it and slipped down paring early morning gains. Risk appetite was also frail on fear US may slip into recession as US 'fiscal-cliff' talks stalled. Sensex down by 81.76 points at 19,335.70 (provisionally), while Nifty down by 35.50 points at 5,870.10 (provisionally).

Oil, IT and Metal Stocks lost notable ground, also FMCG, Capital Goods and Realty stocks too mostly ended weak. Pharma stocks failed to hold early gains. Power, automobile and bank stocks found some support, but ended off their highs. Mid-cap and small-cap stocks too closed on a weak note.

The market breadth was weak.

Thu, Dec 27, 2012 at 14:15 PM
Markets slightly negative.
Markets after positive start, is trading slightly in negative zone. Sensex is down by 12.86 points or 0.07% at 19,404.60, while Nifty is down by 9.45 points or 0.16% at 5896.55.

Automobile and Healthcare stocks are finding modest support. Power, Bank, Oil and Metal stocks are mostly off from their high levels. FMCG, Capital Goods and Realty stocks is also off the day's highs. IT and Consumer Durables stocks are also trading weak amid lackluster moves.

BHEL is trading lower by more than a percent along with Mahindra & Mahindra, Hindustan Unilever, Coal India, Tata Consultancy Services, Sun Pharmaceutical Industries, Infosys and HDFC are down 0.3% - 0.8%.

Thu, Dec 27, 2012 at 13:00 PM
Markets flat in noon deals.
Markets trading almost on an absolutely flat note with volatility in the market, as traders rolling over position in the futures & options (F&O) segment of December 2012 series to January 2013 series. Sensex unchanged at 19,418, while Nifty flat at 5,902.

Sector wise, Auto stocks rose as auto companies will start unveiling sales data for December 2012 from 1 January 2013. On the other hand, Consumer Durables, FMCG and IT indices are trading marginally lower.

BHEL is the loser down by 1.2% at Rs 227, following it are Coal India, Mahindra & Mahindra, ICICI Bank and Hindustan Unilever are down half a per cent each.

On the gaining side, Tata Motors has moved up 2% at Rs 312, along with Dr Reddy's. ONGC, Maruti Suzuki and Tata Steel have added 1-1% each. Aurobindo Pharma gained after the company said it has received final approvals from USFDA to manufacture and market Nafcillin Injections in the United States.

Overall market breadth is neutral. Out of 2,706 stocks traded, 1,197 shares have advanced while 1,351 shares have declined.

Thu, Dec 27, 2012 at 12:15 PM
Markets pares early gains.
Markets which opened positive early in the morning is trading flat, due to December 2012 derivatives expiry day.

Sectoral wise, Bank Oil, Metal and capital goods stocks are trading mixed. Realty sector which saw some buying early in the morning have turned a bit negative. Not much buying is happening in Mid-cap and Small-cap segments.

Tata Motors is trading firm with a gain of 2.2%. Lupin is up 1.6% and Axis Bank is trading 1.2% higher, while Maruti Suzuki, Punjab National Bank and Tata Steel are up nearly a percent. IDFC, State Bank of India, Cipla and Dr Reddy's Laboratories are up with modest gains.

Thu, Dec 27, 2012 at 12:00 PM
Markets trading in a tight range.
Markets are trading flat with positive bias ahead of December 2012 F&O expiry along with hopes of quick resolution to US 'fiscal-cliff' issue. Sensex which rose to 19,504.40 is now up by 10.38 points or 0.05% at 19,427.84, while Nifty up by 3.25 points or 0.05% at 5,909.25, off from early high of 5,930.80.

Sectoral wise, Realty, Auto and Metal indices surging by almsot 1% each and Healthcare, PSU, Banks, Capital Goods and TECk are trading marginally higher, while IT, FMCG, Oil & Gas and Consumer Durable have declined slightly. Mid-cap and Small-cap indices have gained between 0.1-0.4%.

Gainers include Tata Motors, Tata Steel, Maruti Suzuki, Sterlite and Hindalco, all surging between 1-2%.

Whereas, loosers were, Coal India, ITC, HDFC and RIL have declined between 0.2-1%.

The overall market breadth in remains positive with 1068 shares advancing and 768 shares declining.

Thu, Dec 27, 2012 at 10:30 AM
Markets pare some gains.
Markets after firm positive start, is now trading flat on derivatives expiry day, with traders rolling over their monthly derivatives position to next month January 2013 series.Sensex up by 9 points at 19,426, while Nifty up by 1 point at 5,907.

The scheduled meeting of Prime Minister Manmohan Singh with top government officials on the next five-year plan will set the outlook for various sectors that need focus from the government, traders said.

Sector wise, Realty, Auto and Metal indices surging by almost 1% each and sectors like Healthcare, PSU, Banks, Capital Goods and TECk are trading marginally higher, while sectors like Counters like IT, FMCG, Oil & Gas and Consumer Durable have declined slightly. Mid-cap and Small-cap indices have gained between 0.1-0.4%.

Gainser for this session include Tata Motors, Tata Steel, Maruti Suzuki, Sterlite and Hindalco, all surging between 1-2%. Among other shares, Hindustan Oil Exploration Company (HOEC) has rallied 20% to Rs 121 in opening deals on the on reports that Eni, the Italian petroleum exploration and production firm, which holds 47.18% stake in the company is talks with US- based Anadarko Petroleum Corporation to sell its entire stake. Berger Paints is trading higher by 2.5% at Rs 164, extending its past two-days 8% rally, after the company said that UK Paints India has acquired an additional 0.35 million shares in the company from open market purchase.

Loosers for this session were Coal India, ITC, HDFC and RIL, declining between 0.2-1%.

PC Jewellers has listed at Rs 137, a marginal 1.5% premium against its issue price of Rs 135.
The overall market breadth in remains positive with 1068 shares advancing and 768 shares declining.

Thu, Dec 27, 2012 at 10:00 AM
Markets pare some gains.
Markets after positive start, pares some gains with Tata Motors and Maruti Suzuki edging higher in early trades. Sensex which rose to 19,504.40 is now up by 18 points or 0.08% at 19,435.46, while Nifty up by 5.65 points or 0.1% at 5,911.25 at 5,911.25, off from early high of 5,930.80

Thu, Dec 27, 2012 at 09:30 AM
Markets open positive.
Markets opened up led by a select Pharma, Realty, Power and Metal sectors edging higher in early trades. Sensex up by 36 points or 0.81% at 19,453.72, while Nifty up by 8.40 points or 0.14% at 5,914.

December 26, 2012

Market Pulse - Dec 26, 2012


Wed, Dec 26, 2012 at 14:15 PM
Markets ended up.
Markets after opening positively and sustaining the early noon gains ended up. Risk appetite was firm on hopes of growth recovery in Asia after minutes of Bank of Japan monetary policy hinted towards easing. Meanwhile, hopes of quick resolution to US 'fiscal-cliff' issue after President Barack Obama cut short his Christmas holidays, also supported risk-on sentiments. Sensex closed up by 162.37 points or 0.84% at 19,417.46, while Nifty ended up by 49.6 points or 0.84% at 5,905.60.

Sector wise Capital Goods, Power, Pharmaceuticals, Metal, Banks indexes lead the gain while IT was only sector declined. Mid-cap and Small-cap gained nearly 0.4-0.7% each.

Among key stocks, Bharti Airtel gained 3%, Sterlite Industries rose 1% and Jindal Steel gained 2% in Metal sector, whereas among Bank sector, SBI and ICICI rose nearly 2% while HDFC Bank closed up 1%, while among Auto sector, Bajaj Auto gained 2% and Mahindra & Mahindra rose 1%. Reliance Industries, gained 1% on reports that a panel appointed by the government had recommended a pricing formula that could sharply raise the prices of natural gas.

The other notable movers include, Credit Analysis and Research Limited (CARE) which traded at Rs 925, a 23% premium against its issue price of Rs 750 per share. Binani Industries rose 8% to Rs 142.20 after its Board gave an in-principle approval to divest its holding in subsidiary firm Binani Cement by up to 40%. Essar Ports ended up 1.2% at Rs 95.80, extending its Monday’s over 2% gain after the company announced the commissioning of its 16 million metric tonnes per annum (MMTPA) dry bulk terminal at Paradip in Odisha, taking the aggregate handling capacity of the company to 104 MMTPA. Glenmark Pharmaceuticals rallied over 4% to Rs 540.85, its highest level since September 2008 on back of heavy volumes on the NSE. The stock opened at Rs 522 and has seen a combined 1.28 million shares changing hands on the counter so far compared to less than one million shares that were traded daily in past two weeks.

On the losing side, Hindustan Unilever fell 1.4%, Tata Motors and Hero MotoCorp fell 0.4% and 1% while TCS, Infosys declined 0.1-0.3%. Suzlon Energy dipped 2% at Rs 17.60 in an otherwise firm market after the company said that its promoters have sold part of their stake to raise around Rs 63 crore for corporate debt restructuring (CDR) process.

The overall market breadth was strong as 1,522 stocks advanced while 1,417 stocks declined.

Wed, Dec 26, 2012 at 15:30 PM
Markets closed on a firm note.
Markets closed higher due largely on some hectic short covering ahead of F&O expiry. Sensex ended at 19,421.04 (provisional) with a gain of 165.95 points or 0.86%, while Nifty closed at 5905.60 (provisional) up 49.85 points or 0.85%.

Sectoral wise Capital Goods and Bank stocks had a good session, along with Realty, Power, Oil and Pharma stocks also posted notable gains. Metal stocks too found some support. FMCG and Automobile stocks ended on a mixed note. Information technology stocks were mostly subdued.

While several midcap stocks ended with strong gains, smallcaps closed off their highs.

The market breadth was slightly positive.

Wed, Dec 26, 2012 at 15:00 PM
Markets trading firm.
Markets continued to trade firm in late-afternoon trades led by buying in index heavy-weights such as Reliance Industries, ICICI Bank, among others. Sensex is up by 183.29 points or 0.95% at 19,438.38, while Nifty is up by 51.75 points or 0.88% at 5,907.75.

Sectoral wise, Consumer Goods, Pharmaceuticals, Metal, Real-Estate, Banks indexes lead the gain, while IT declined. Mid-cap and Small-cap gained nearly 1%

Among key Sensex stocks, Bharti Airtel gained 3%, Sterlite Industries and Jindal Steel gained nearly 2% while Hindalco Industries rose 1% in Metal sector. Among Banks sectors, SBI and ICICI rose nearly 2%, while in Auto sector, Bajaj Auto gained 2% and Mahindra & Mahindra rose 1%. On the other hand, Tata Motors and Hero MotoCorp fell 0.6% and 0.3% while TCS, Infosys declined 0.1%.

Reliance Industries, the owner of world's biggest refining complex in Gujarat, surged 1.4% on reports that a panel appointed by the government had recommended a pricing formula that could sharply raise the prices of natural gas.

The other notable movers include, Credit Analysis and Research Limited (CARE) which is trading at Rs 925, a 23% premium against its issue price of Rs 750 per share.

Binani Industries has surged 9% to Rs 142.50 in opening deals after its Board gave an in-principle approval to divest its holding in subsidiary firm Binani Cement by up to 40%.

Essar Ports is trading higher by 3% at Rs 97.30, extending its Monday’s over 2% gain after the company announced the commissioning of its 16 million metric tonnes per annum (MMTPA) dry bulk terminal at Paradip in Odisha, taking the aggregate handling capacity of the company to 104 MMTPA.

Glenmark Pharmaceuticals rallied over 5% to Rs 547, its highest level since September 2008 on back of heavy volumes on the NSE. The stock opened at Rs 522 and has seen a combined 1.28 million shares changing hands on the counter so far compared to less than one million shares that were traded daily in past two weeks.

Suzlon Energy has dipped over 3% at Rs 17.30 in an otherwise firm market after the company said that its promoters have sold part of their stake to raise around Rs 63 crore for corporate debt restructuring (CDR) process.

Wed, Dec 26, 2012 at 14:15 PM
Markets sustains day's high.
Markets which opened positive and gained day's high by early noon trades has managed to sustain the early gains. Sensex is now up by 187.25 points or 0.97% at 19,442.34 from its previous closing mark, while Nifty is up by 55.80 points or 0.95% at 5911.55.

Among the stocks in the Capital Goods index, BHEL, Larsen & Toubro, AIA Engineering, AIL, Bharat Electronics, Crompton Greaves, Jindal Saw, Lakshmi Machine Works, Punj Lloyd, Siemens and Thermax are trading higher by 1% - 3%.

In the metal space, Sterlite Industries, Sesa Goa, Bhushan Steel, Jindal Steel & Power and JSW Steel are up 1% - 2%. Hindalco, NMDC, SAIL and Tata Steel are up with modest gains.

State Bank of India and ICICI Bank are up 1.8% and 2.2%, respectively. Axis Bank, HDFC Bank, Bank of India, Bank of Baroda, Canara Bank, Federal Bank, Kotak Bank, Union Bank of India and Yes Bank are also up in positive territory with notable gains.

Wed, Dec 26, 2012 at 13:00 PM
Markets at day's high.
Markets have spurted in noon trades backed by Realty, Bank and Metal shares. Sensex, after opening at 19,302 has surged by 194 points to 19449, while Nifty up by 57 points at 5,912.

Realty index has jumped by 1.6%, while Capital Goods, Bankex and Metal shares are up by around 1.5% each. However, IT sector is the only one trading in red down by 0.11%.

Bharti Airtel has added 2.5% to Rs 317. Sun Pharma is up 2.3%, followed by Bajaj Auto, Sterlite and Jindal Steel. Banking shares - ICICI Bank and SBI are up 2% each. Market heavyweight, Reliance is up 1.7% at Rs 834. Hindustan Unilever is down 1.2% at Rs 524. Hero MotoCorp, Wipro and Infosys are down by 0.50% each. Tata Steel rose 0.27%. The company said some contract workers and the company's security personnel clashed at its factory in Jamshedpur town on Monday. Cigarette maker ITC was down 0.28% to Rs 286.20. The Ministry of Health and Family Welfare in October 2012 notified new pictorial health warnings to be depicted on tobacco product packs which will come into effect from 1 April 2013.

BSE market breadth was positive. Out of 2,728 stocks traded, 1,472 shares have advanced while 1,117 have declined.

Mon, Dec 26, 2012 at 12:00 PM
Markets consolidate gains.
Markets have consolidated gains and trading near day's high in early noon deals, amid positive cues from Asian markets. Sensex is now up by 173.62 points or 0.9% at 19,428.71, while Nifty is up by 47.70 points or 0.8% at 5902.95.

Bharti Airtel is up nearly 3% at Rs 317.85, on sustained buying at the counter. Sterlite Industries has gained 2.5%. Larsen & Toubro, Bajaj Auto, Sun Pharmaceutical Industries, Jindal Steel & Power, Tata Power, ICICI Bank, GAIL India, Mahindra & Mahindra, Hindalco, HDFC, BHEL, Reliance Industries and State Bank of India are all trading higher by 1% - 2%. ONGC, Tata Steel, Cipla, NTPC and HDFC Bank are up with modest gains.
Wed, Dec 26, 2012 at 10:15 AM
Markets consolidating.
Markets consolidated gains in early morning trades as investor's traded cautious on concerns over looming US 'fiscal-cliff' issue coupled with Futures and Option's expiry for December derivative contracts tomorrow. Sensex up by 46.21 points at 19,302.94, while Nifty up by 10 points at 5,865.95.

Sectoral wise Consumer Goods, Pharmaceuticals, Metal, Real-Estate, Banks indexes lead the gain while fast moving Consumer Durable Goods and IT declined. Mid-cap and Small-cap gained nearly 0.5%.

The overall market breadth is strong as 1,136 stocks advanced against 700 stocks declined.

Wed, Dec 26, 2012 at 09:30 AM
Markets opened positive.
Markets opened on a positive note this morning, amid a slightly steady trend in Asian markets. Sensex, which rose to 19,321.41, is now up 47.21 points or 0.25% at 19,302.30, while Nifty is up 11.55 points or 0.2% at 5867.30.

Oil, Metal, Realty and Pharma stocks are edging higher along with select Consumer Durables, Capital Goods and Power stocks are also moving up.

IT and Bank stocks have opened on a mixed note, while Automobile and FMCG stocks are a bit subdued.

December 25, 2012

Market Pulse, Dec 25 2012


Tue, Dec 25, 2012
Markets are closed today due to Christmas Holiday.
Trading will resume on Wednesday 26th December 2012.

BSE to suspend trading of 31 companies.
Bombay Stock Exchange (BSE) will be suspending trading of 31 companies shares. These companies have not fulfilled the Exchanges requirements for continuous listing till the quarter ended 2012.

"Trading in securities of these 31 Companies will be suspended with effect from January 16, 2013 (being 15 trading days from issue of notice), on account of non-compliance with the provisions of the listing agreement," BSE said.

The companies facing suspension include Aditya Forge, Aster Silicates, Indo-Pacific Software & Entertainment, TeleCanor Global, Prime Industries, Ellora Paper Mills, Sarang Chemicals, Linkhouse Industries and Mahalaxmi Seamless.

Other companies include Gujarat Meditech, Marvel Capital & Finance (India) Ltd, Socrus Bio Sciences, Powersoft Global Solutions, TeleCanor Global and Silktex.

The exchange said if these companies comply with listing provisions on or before January 8, trading in their securities would be suspended for five days up to January 22.

However, If they fail to do so, the suspension would continue till such time the company complies with the procedure laid for revoking suspension, it added.
Courtesy: Business-Standard

December 24, 2012

Market Pulse - Dec 24, 2012


Mon, Dec 24, 2012 at 16:00 PM
Markets closed flat.
Markets pared most of the day's gains as investors booked profits at higher levels ahead of the Christmas holiday tomorrow and expiry of December derivative contracts on Thursday. Sensex ended up by 13 points at 19,255, while Nifty ended up by 8 at 5,856.

Sectoral wise IT, Healthcare, Auto and Realty indices surged by almost 1% each, while Oil ∓ Gas index declined by nearly 1%. The broader markets outperformed the benchmark indices with the Mid-cap up 0.32% and the Small-cap up 0.36%.

. IT shares like Wipro, Infosys and TCS surged between 0.4-2% on support of weak rupee, which helps enhance revenue as major portion of their revenues come from exports to the US. From the Auto sector, Tata Motors was the top gainer, up 3%, while Bajaj Auto gained nearly 1%. Sun Pharma surged over 2% on completion of acquisition of DUSA Pharmaceuticals, Inc.U.S.A by its US subsidiary. Other notable gainer includes Tata Power, HUL, Bharti Airtel, Coal India and GAIL.

Kingfisher Airlines was locked in upper circuit of 5% at Rs 15.97, bouncing back over 9% from intra-day low on reports that the company has submitted a revival plan to the aviation regulator, the Director General of Civil Aviation (DGCA).

FDC spurted 11% to Rs 98 on back of heavy volumes on report of promoters planning to sell their majority stake in the company.

Lanco Infratech soared 7% to Rs 13.46 after the company announcing that Supreme Court of Western Australia has allowed the Griffin Coal Mining Company Pty Limited (GCMC), a subsidiary of company to enter into revised Coal Supply Agreement (CSA) with Griffin Power entities which is in process of being acquired by Japanese consortium of Sumitomo Corp and Kansai Electric Power Co.

Glenmark Pharmaceuticals soared by 4% after the company announcing it has signed development agreement with Forest Laboratories for worldwide collaboration on Novel Agents to treat chronic inflammatory conditions.

On the losing side, index heavyweight RIL declined marginally. ONGC declined by almost 2%. JSPL, Maruti Suzuki, Sterlite, ICICI Bank and Hindalco are other notable losers.

The overall market breadth was almost neutral.

Mon, Dec 24, 2012 at 15:30 PM
Markets ends flat.
Markets sheds most of the day's gains as investor kept booking profits at higher levels ahead of Christmas holiday and expiry of December derivative contracts. Sensex provisionally ended up 16 points at 19,258 after touching an intra-day high of 19,348, while Nifty ended up 8 points at 5,856 after touching an intra-day high of 5,872.

Mon, Dec 24, 2012 at 14:30 PM
Markets almost flat
Markets are trading in a tight range amid profit booking by investors ahead for Christmas holiday tomorrow and expiry of December derivative contracts. Sensex up by 14 points at 19,256, while Nifty up by 3 points at 5,850 levels.

Sectoral wise IT, Healthcare, Auto and Realty indices have surged by almost 1% each, while Oil & Gas and metal indices have declined by nearly 1% each. The broader markets have outperformed the benchmark indices with the BSE Mid-cap up 0.28% and the BSE Small-cap up 0.34%.

IT shares like Wipro, Infosys and TCS have gained between 0.3-1% on the back of weak rupee which helps boosts revenue as major portion of their revenues come from exports to the US. From the Auto sector, Tata Motors is the top gainer, up 3%, while Bajaj Auto has gained over 1%. Sun Pharma is up over up 2% on completion of acquisition of DUSA Pharmaceuticals, Inc.U.S.A by its US subsidiary. Other notable gainer includes Tata Power, HUL, NTPC, Coal India and GAIL.

On the losing side, index heavyweight RIL has dropped nearly 1% and ONGC losing down almost 2%. JSPL, Maruti Suzuki, Sterlite, ICICI Bank and Hindalco are other notable losers.

Among other shares, Kingfisher Airlines has locked in upper circuit of 5% at Rs 15.97, bouncing back over 9% from intra-day low on reports that the company has submitted a revival plan to the aviation regulator, the Director General of Civil Aviation (DGCA).

Hindustan Construction Company (HCC) has moved higher by 3% at Rs 18.30 after the company said it secured a construction order worth of Rs 231 crore in joint venture with Coastal Projects from the Northeast Frontier Railway.

The overall market breadth is almost neutral.

Mon, Dec 24, 2012 at 14:15 PM
Markets pare early gain, almost flat
Markets continued to trade on a volatile note almost flat as investors booked profits ahead of the Christmas holiday. Indices are expected to be volatile through the week as traders roll over their positions for the end of the December series on Thursday. Sensex is up by 7.80 points or 0.04% at 19,249.80, while Nifty is up by 2.35 points or 0.04% at 5,850.35.

Mon, Dec 24, 2012 at 12:15 PM
Markets off day's high
Markets came off day's high as investor booked profits at higher levels ahead of Christmas holiday and December derivative contracts expiry on Thursday. Sensex which had touched an intra-day high of 19,347 was up 36 points at 19,278, while Nifty was up 8 points at 5,856 after touching an intra-high of 5,872.

Mon, Dec 24, 2012 at 10:30 AM
Markets trade in narrow range
Markets trading in narrow range amid looming concerns over US fiscal cliff. Sensex, which rose to 19,347.64 in early trades, has eased to 19,275.62, but still remains in positive territory, netting a gain of 33.62 points or 0.17%, Nifty is up 7.65 points or 0.13% at 5855.35, off an early high of 5871.90.

IT stocks are edging higher, thanks to the rupee's recent weakness against the U.S. dollar. Select Pharmaceuticals, Realty, Metal and Automobile stocks are also up in positive territory. Bank, FMCG, capital goods and oil stocks are a bit subdued. Buying is stock specific in Mid-cap and Small-cap segments.

Mon, Dec 24, 2012 at 09:30 AM
Markets open positive
Markets opened up tracking steady Asian markets, however, concerns loomed over US fiscal cliff resolution to avert automatic spending cuts and tax increases in next year. Sensex opened up by 36 points at 19,278, while Nifty opened up by 21 points at 5,869.

IT, Pharma, Metal and Realty stocks have edged higher in early trades where the mood is a bit positive at present, with select Automobile, Power and FMCG stocks too are up in positive territory.

Oil, capital goods and bank stocks are a bit subdued.

December 22, 2012

Weekly Pulse - Dec 22, 2012


Weekly Update - Dec 22, 2012

Why is market worried about US Fiscal Cliff?
Markets have corrected almost by 2% in last few days ahead of deadline of the US Fiscal Cliff. US Fiscal Cliff is considered to be the biggest road block for the global markets including India because, if the Fiscal Cliff deal is not reached that could have a huge impact on the global markets and economies including India.

Markets end lower on profit taking
Markets closed lower for the second straight week , amid weak global cues, weighed down by profit taking in Capital Goods and Private Banks. Sensex ended down by 75 points or 0.4% at 19,242, while Nifty closed by 32 points or 0.5% lower at 5,848.

In the broader markets, the Mid-cap ending marginally lower by 0.02%, while the Small-cap index ended by 0.4% lower. Among other sectoral indices Capital Goods, Oil & Gas, Bankex, and FMCG were the top losers while Metal and Auto indices were among the top gainers during the week.

Reserve Bank of India, in its mid-quarter policy review on Tuesday, maintained a status quo on key policy rates and left the cash reserve ratio unchanged. The central bank, however, reiterated there is scope for loosening monetary policy in January-March and said the easing of inflation gives scope to shift focus of its policy to growth. RBI kept the Repo Rate (R.R.) unchanged at 8% and also kept the banks' Cash Reserve Ratio (CRR) steady at 4.25%.

Engineering major Larsen & Toubro was the loser down by 3% on lack of fresh orders. FMCG major ITC ended by 2.7% lower at Rs 288 on profit taking after the stock recently touched a high of Rs 306 last week. Private bank shares which had rallied followed the approval of the Banking (Amendment) Bill also witnessed profit taking at higher levels. ICICI Bank ended down by 1.2% while HDFC Bank ended by 1.8% lower. Mortgage lender HDFC ended by 2.8% lower on concerns that home buyers continue to postpone availing of home loans in wake of the high interest rates.

Index heavyweight Reliance Industries ended down by 1.9% at Rs 839, while Telecom major Bharti Airtel slipped by 1.5% to end at Rs 307 after the CBI (Central Bureau of Investigation) Friday filed a charge sheet in connection with alleged irregularities in spectrum allocation during the NDA regime involving three telecom companies, including Bharti Airtel and Vodafone India, while pegging the loss at Rs 846 crore. Among the gainers metal shares toppped the list on the back of encouraging economic data from China, the world's largest consumer of metals. Tata Steel was the top gainer up by 8% followed by Hindalco, Jindal Steel and Sterlite Industries.

Auto shares held firm during the week on expectation of robust sales during the third quarter which comprises of major festivals. Tata Motors, Maruti Suzuki and Hero MotoCorp were among the top gainers in the sector. However, Mahindra & Mahindra ended lower after the company which bought its foreign partner stake in the struggling commercial vehicle joint venture, said that it will invest more money in the venture, which will eventually become a subsidiary. The company acquired 49% from its US joint venture partner Navistar for around Rs 175 crore and said that turnaround may happen only by 2014.

Government, late Monday, cleared the Banking Laws (Amendment) Bill in Lok Sabha, 2011, after Finance Minister P Chidambaram agreed to drop the contentious proposal on allowing banks to do futures trading. With this, the government cleared the decks for the Reserve Bank of India (RBI) to initiate the process to issue new banking licenses and widened the window for infusion of capital into the banking sector.

Further, the Government on Tuesday approved the much-awaited Companies Bill 2011, in Lok Sabha, making it mandatory for profit-making companies to spend on activities related to corporate social responsibility (CSR). If a company does not do so, it will have to explain the reasons for it. The changes in the Bill include provisions that make it mandatory for firms — those that have reported profits of Rs 5 crore or more in last three years — to spend at least two per cent of their average net profit on CSR activities. Companies failing to meet the obligation and not disclosing reasons for it in their books of account would face action, including penalty.

Investors are likely to keep a close on watch on the developments on the US 'fiscal cliff' and markets are likely to remain volatile in the early part of the week ahead of the expiry of December derivative contracts on December 27.

Market Pulse - Dec 21, 2012


Fri, Dec 21, 2012 at 16:00 PM
Markets end lower.
Markets extended losses to end over 1% lower, amid weak global cues, dragged by index heavyweights Reliance Industries Ltd and banking shares. Sensex which touched an intra-day low of 19,221 ended down 212 points at 19,242, while Nifty which touched an intra-day low of 5,842 ended lower by 69 points at 5,848.

Sectoral wise, Realty index was down by almost 4% followed by Metal, Healthcare, Capital Goods, Power and Oil & Gas, all down by nearly 2% each. The broader markets underperformed the benchmark indices. Mid-cap and Small-cap indices plunged by almost 1.5% each.

Among metal shares, JSPL was the top Sensex loser, down nearly 4%. Sterlite and Hindalco slipped between 2-3%. From the Realty space, Prestige Estates, DLF, HDIL and Prestige Estates fell between 2-5%. Index heavyweight Reliance Inds plunged nearly 2%. ONGC has slipped over 1%. Banks which are a proxy to the economy also faced the brunt of selling pressure. SBI, ICICI Bnak and HDFC Bank fell between 1-2%. Auto shares like Tata Motors, M&M, Maruti Suzuki and Bajaj Auto declined between 1-2%. Other prominent losers included Sun Pharma, DRL, BHEL, L&T, Tata Power, Cipla and CIL.

Bharti Airtel declined by over 3%, amid reports of Central Bureau of Investigation (CBI) filed charges against Bharti Airtel Ltd and Vodafone Group Plc's India unit today as part of a probe into alleged corruption in allocation of mobile phone airwaves a decade ago, a lawyer said.

Overall breadth in market ended dismal as 1,937 stocks are declining while 979 are advancing.

Fri, Dec 21, 2012 at 09:30 AM
Markets open lower.
Markets drifted lower in early trades this morning, tracking weak cues from Asian markets. Sensex, which tumbled to around 19,318, is now down 106 points or 0.55% at 19,348, while Nifty is down 37 points or 0.6% at 5879.40.

Oil, realty, metal, FMCG and power stocks are among the notable losers, along with Bank, capital goods and automobile stocks too have opened on a weak note. Only select IT and pharma stocks have edged higher.

December 20, 2012

Market Pulse - Dec 20, 2012


Thu, Dec 20, 2012 at 16:30 PM
Markets ends lower.
Markets after a weak start and a subsequent smart rebound, faltered and plunged into the red around mid morning, but recovered once again and regained most of the lost ground towards close. Sensex, which declined to 19,335.72 after, ended the day with a loss of 22.08 points or 0.11% at 19,453.92, while Nifty settled at 5916.40, down 13.20 points or 0.22%. It touched a high of 5937.60 and a low of 5881.45 during the session.

While weak global markets and the Bhartiya Janata Party's win in the Gujarat state assembly elections rendered the market weak early on, expectations of more economic reforms pulled it from lower levels.

Metal stocks started off on a weak note on profit taking, but bounced back to end the session well off their lows, with a few of them even posting smart gains. Select FMCG, IT and Healthcare stocks moved up. Automobile, Capital Goods, Consumer Durables and Realty stocks mostly closed weak. Oil&Gas and Bank stocks ended on a mixed note.

Sun Pharmaceutical Industries lost over 2%. Mahindra & Mahindra, Bajaj Auto, Larsen & Toubro and Wipro ended lower by 1% - 1.6%. BHEL, ITC, Tata Motors, HDFC Bank, Dr Reddy's Laboratories and Hero Motocorp also ended notably lower.

Ambuja Cements lost around 3%. BPCL, Jaiprakash Associates, Cairn India, IDFC, Axis Bank, Kotak Bank, HCL Technologies, ACC, Reliance Infrastructure, Lupin and Power Grid Corporation closed with sharp to moderate losses.

Jindal Steel & Power, Hindalco and Tata Steel ended with strong gains. Hindustan Unilever, Tata Consultancy Services, Cipla, GAIL India, Maruti Suzuki, Tata Power and Sesa Goa also closed on a firm note.

Thu, Dec 20, 2012 at 15:30 PM
Markets ends marginally lower.
Markets ended low on uncertainty over US Budget talks drawing resolution before year-end coupled with Congress' defeat in Gujarat assembly elections. Sensex fell 49.85 points to end at 19,426.15 provisionally, while Nifty declined 13.20 points and provisionally ended at 5,916.40.

Banks such as HDFC Bank falls on profit-taking after recent gains as optimism surrounding the passing of a banking bill began to fade. HDFC Bank falls 0.72 percent while State Bank of India is down 0.45 percent.

The Rajya Sabha will consider amendments to the banking bill on Thursday afternoon.

Thu, Dec 20, 2012 at 14:00 PM
Markets regains momentum.
Markets pared loses in late afternoon trades on value-buying in metal and other defensive sectors such as pharmaceuticals and FMCG. Sensex index fell 11 points and traded at 19,463.24 while Nifty declined 13 points at 5,917.60.

Sector wise top losers included Real-esate, Power, Banks, Capital Goods while metals, FMCG, pharmaceuticals gained. Mid-cap and Small-cap fell 0.1-0.4%.

Among stocks, metal stocks gained with Tata Steel, Jindal Steel and Hindalco rising above 1% each while Cipla and HUL gained 1% while among laggards, Mahindra & Mahindra and Bajaj Auto declined 1.5% and 1.2%, HDFC Bank fell 0.6% and Reliance Industries dropped 0.4%. The other notable movers are BGR Energy Systems which has surged 4% to Rs 274.60 after the company said that it has bagged orders for supply of steam turbine and generators from state owned NTPC for the proposed 2X800 MW super thermal power project at Lara in Chattisgarh. The value of the order is Rs 1,548 crore. Reliance Power is trading lower by 2% at Rs 96.50 after the company said that the offer for sale (OFS) transaction was completed at a price of Rs 95 per share on a proportionate allocation method. Opto Circuits (India) has surged 4% to Rs 110 after the board approved issue of warrants to promoter at Rs 145 per share.

Overall breadth remained negative as 1,586 stocks declined while 1,185 stocks advanced.

Thu, Dec 20, 2012 at 13:00 PM
Markets remains subdued.
Markets after opening on a negative note on weak global cues, the Indian stock market pared some losses subsequently as investors indulged in some buying at lower levels in a few blue chip stocks. However, the mood remains a bit cautious amid renewed worries about the U.S. fiscal cliff.

Sensex, which recovered to 19,520 after declining to 19,408 in early trades, is currently down 84.25 points at 19,391.75, while Nifty is down 32 points at 5,898. Healthcare and information technology stocks have edged higher. Realty and bank stocks are mostly subdued. Oil, power, metal and capital goods stocks have recovered after a weak start. Automobile and FMCG stocks are trading mixed.

Among the gainers in the Sensex, Cipla is up by over 2% at Rs 428.50, Sun Pharmaceutical Industries is trading 1.5% up at Rs 772.60 and Maruti Suzuki is up 1.3% at Rs 1528.60.

Hindustan Unilever and Jindal Steel & Power are up nearly a percent from their previous closing levels. Wipro, Tata Consultancy Services and Infosys are up 0.6% - 0.9%. Coal India, Tata Power, Tata Motors and GAIL India are also up in positive territory.

Asian Paints, Siemens, HCL Technologies, Lupin and Ranbaxy Laboratories are among the notable gainers in the Nifty index.

BHEL, Sesa Goa and Bharti Airtel are trading lower by 1% - 1.2%. IDFC, HDFC Bank, Ambuja Cements, Bank of Baroda, Reliance Infrastructure, Jaiprakash Associates, ITC, Kotak Bank and Reliance Industries are also trading weak.

Adani Enterprises has tumbled to Rs 274.75, losing 5.83%, on strong volumes. Karnataka Bank (down 2.09%) has declined on reports the stock is under the lens of the market regulator following recent frenzied trading at the counter.

Thu, Dec 20, 2012 at 11:30 AM
Markets under pressure.
Markets which were high in early trade, tumbled to day's low. Sensex, which rose to 19,520.51 in early trades, tumbled to a low of 19,335.72 and is currently at 19,363.47, down 112.53 points or 0.58% from its previous closing mark, while Nifty is down 32.30 points or 0.55% at 5897.30.

Thu, Dec 20, 2012 at 10:30 AM
Markets remain range bound.
Markets continued to remain volatile in a narrow range with the Sensex and the Nifty oscillating between negative and positive zone. Investors remain cautious ahead of the outcome of the Gujarat elections later today and amid looming uncertainty over US budget deal resolution. Sensex was down 20 points at 19,456, while Nifty was down 11 points at 5,918.
Sectoral wise, Realty index has declined by almost 1% followed by counters like Banks, Power, Capital Goods, Oil & Gas, Auto, Consumer Durable and Metal, all declining marginally. However, Healthcare and IT indices are up nearly 1%. Mid-cap index has slipped by 0.2%, whereas Small-cap index is almost flat.

The main losers at this hour include Bharti Airtel, Sterlite, BHEL, HDFC Bank, ITC, Bajaj Auto and M&M, all falling down by 1% each. Among other shares, Gujarat Apollo Industries has rallied 12% to Rs 152 after the company said that the Swiss building materials maker Ammann Group is picking 70% stake in the consolidated road construction equipment business of Apollo Group in a deal valuing the business at Rs 400 crore.

On the gaining side, Cipla, Wipro, TCS, HUL, JSPL, CIL, Maruti Suzuki and Sun Pharma have gained between 1-2%. Reliance Power is trading lower by 2% at Rs 96.50 after the company said that the offer for sale (OFS) transaction was completed at a price of Rs 95 per share on a proportionate allocation method.

Overall market breadth remains unhealthy with 1,036 shares declining and 943 shares advancing.
Thu, Dec 20, 2012 at 10:00 AM
Markets recovers a bit.
The BSE benchmark Sensex, which recovered to 19,520 after declining to 19,408 in early trades, is currently down 13.31 points at 19,462.69.

The Nifty index of the National Stock Exchange is down 8.25 points at 5921.35, off an early low of 5908.45.

Among the gainers in the Sensex, Cipla is up by over 2% at Rs 428.50, Sun Pharmaceutical Industries is trading 1.5% up at Rs 772.60 and Maruti Suzuki is up 1.3% at Rs 1528.60.

Thu, Dec 20, 2012 at 09:30 AM
Markets opened on a weak note.
Markets opened lower this morning with investor pressing sell button, tracking weak global cues. Sensex, which declined to 19,408, is now down 49.60 points or 0.25% at 19,426.40, while Nifty is down 14.80 points or 0.25% at 5914.80.

Metal, realty, oil and bank stocks have opened on a weak note. Select pharma and IT stocks have edged higher.

December 19, 2012

Market Pulse - Dec 19, 2012


Wed, Dec 19, 2012 at 17:00 PM
Markets closed higher.
Markets extended gains, amid firm global cues, as the approval of the Banking Laws (Amendment) Bill in the Lok Sabha boosted market sentiment.Sensex ended at 19,476 up 111 points or 0.57%, while Nifty ended at 5,930 up 33 points or 0.56%. The Sensex and the Nifty touched an intra-day high of 19,516 levels and 5,939 mark, respectively.

Auto and Healthcare indices surged by almost 2% followed by counters like Metal, IT, Oil & Gas, IT and PSU, all gaining by 1% each. However, Capital Goods index declined by nearly 1%. Mid-cap and Small-cap indices ended up 0.4-1%.

Tata Motors gained over3%, extending its past four days gain after the company's UK subsidiary Jaguar Land Rover (JLR) reported a stronger-than-expected November sales. Maruti Suzuki, Bajaj Auto and Hero Moto gained between 1-3%.

Metal shares like Tata Steel, Hindalco, JSPL and Sterlite surged between 1-2%. Metal shares extended the gains after a preliminary version of HSBC's China manufacturing purchasing managers' index (PMI) hit a 14-month high in December 2012. Oil and Natural Gas Corporation (ONGC) moved higher by over 3% on back of heavy volumes on reports that US-based ConocoPhillips is in talks with state-run oil exploration firm to pick up stake in more than one of its ultra-deep water blocks. Index heavyweight RIL gained over 1%. IT shares like Wipro, Infosys and TCS rose between 1-3%. TCS gained by nearly 2% after Morgan Stanley upgraded the stock price.

Sun Pharmaceutical Industries was the top Sensex gainer, up over 3% at Rs 762, also its record high on the Bombay Stock Exchange. The stock has rallied over 5% in past two trading sessions after the company said it has entered into a definitive agreement to acquire the generics business of URL Pharma, the US subsidiary of Japanbased Takeda Pharmaceuticals, for an undisclosed amount. Shares of non-banking financial companies (NBFC) and banking shares also rallied up to 8% in opening deals after the Lok Sabha on Monday after market hours passed a banking bill paving way for foreign investments in the sector and establishment of new private banks.

On laggard side, HDFC, ITC, L&T and ICICI Bank declined between 1-2%.

Overall market breadth in ended positively with 1,649 advancing and 1,312 shares declining.

Wed, Dec 19, 2012 at 15:00 PM
Markets remain firm.
Markets are trading on a higher note led by Auto, Metal and Oil & Gas shares. Meanwhile, building confidence that the US will reach a budget deal with Congress to avoid fiscal cliff has also buoyed the sentiments.Sensex

Meanwhile, Midcap index has gained 0.48% whereas Smallcap index is up 0.4%. Auto index has surged by almost 2% followed by counters like Metal, Healthcare, Oil & Gas, Realty, IT, TECk and PSU, all gaining by 1% each. However, BSE Capital Goods index has declined by nearly 1%.

Tata Motors is the top Sensex gainer, up around 3%, extending its past four days gain after the company's UK subsidiary Jaguar Land Rover (JLR) reported a stronger-than-expected November sales. Maruti Suzuki, Bajaj Auto and Hero Moto have gained between 1-3%.

Metal shares like Tata Steel, Hindalco, JSPL and Sterlite have surged between 1-2%. Metal shares have extended the gains after a preliminary version of HSBC's China manufacturing purchasing managers' index (PMI) hit a 14-month high in December 2012. Oil and Natural Gas Corporation (ONGC) has moved higher by over 3% at Rs 265 on back of heavy volumes on reports that US-based ConocoPhillips is in talks with state-run oil exploration firm to pick up stake in more than one of its ultra-deep water blocks. Index heavyweight RIL has gained over 1%. IT shares like Wipro and TCS have risen by almost 2%. TCS has gained by nearly 2% after Morgan Stanley upgraded the stock price. Sun Pharmaceutical Industries is trading higher by 3% at Rs 759, also its record high on the Bombay Stock Exchange. The stock has rallied over 5% in past two trading sessions after the company said it has entered into a definitive agreement to acquire the generics business of URL Pharma, the US subsidiary of Japanbased Takeda Pharmaceuticals, for an undisclosed amount.

On the losing side, HDFC, ITC, L&T and ICICI Bank have declined between 1-2%. Among other shares, GTL Infra has locked in lower circuit of 10% at Rs 4.08 for the fifth day in a row after the company’s new shares allotted on conversion of foreign currency convertible bonds (FCCBs) got listed on the stock exchanges. Suzlon Energy and Gujarat Flurochemicals are trading lower by over 2% each after the National Stock Exchange decided to exclude these stocks from the future and options (F&O) segment from March 1.

Overall market breadth in remains positive with 1,621 shares advancing and 1,231 shares declining.

Wed, Dec 19, 2012 at 14:00 PM
Markets firm in noon trades.
Markets continue to trade on a firm note in the late noon deals on the back of sustained buying visible in the auto, metal, oil&gas and realty stocks. The Sensex advanced 89 points to 19,454 and the 50-share Nifty was up 26 points at 5,923.

Tata Motors advanced over 3% to Rs 307 extending its past four days gain after the company's UK subsidiary Jaguar Land Rover reported a stronger-than-expected November sales.

The stock has outperformed the market by surging 10% in past one week compared to about 4% gain in auto sector index. The benchmark Sensex rose less than 1% during the same period.

Bajaj Auto, Maruti Suzuki, ONGC, Tata Steel, TCS, Cipla, Sun Pharma, Sterlite Industries and BHEL were teh other notable gainers which added 1-3%.

On the other hand, HDFC, ICICI Bank, Larsen & Toubro, ITC, HUL and NTPC were the losers among the Sensex-30.

All the sectoral indices barring capital goods and FMCG are trading higher. The BSE auto index was the top gainer, up nearly 2% followed by Realty, metal, oil & gas, healthcare which was up nearly 1-1.5% each.

Among the individual stocks, Rashtriya Chemicals and Fertilizers (RCF) was trading higher by 2.5% at Rs 57 on reports that the government may divest their stake through offer for sale to meet the minimum public shareholding requirement.

The overall breadth was positive as 1,580 stocks advanced while 1,170 stocks declined on the BSE

Wed, Dec 19, 2012 at 13:00 PM
Markets remain firm.
Markets are trading higher led by consistent buying demand among rate-sensitive sectors like Auto, Realty and banking stocks. Sensex gained by 68.16 points at 19,432.91, while Nifty was 18.50 points at 5,915.50.

Sector wise, Auto, Realty and Metal indices have surged by almost 2% followed by counters like Oil & Gas, Healthcare, Consumer Durable, IT and PSU, all gaining by 1% each.

From the Auto space, Tata Motors is up by 3%, extending its past four days gain after the company's UK subsidiary Jaguar Land Rover (JLR) reported a stronger-than-expected November sales. Bajaj Auto and Maruti Suzuki have surged by 2%.

Bank stocks rose after government cleared the banking bill paving way for foreign investments in the sector and establishment of new private banks. Moreover, hopes of policy easing by the Reserve Bank of India in January monetary policy after positive undertone in Tuesday's review aided buying in other rate-sensitives too.

Among individual shares, DLF has moved higher by 2% at Rs 227 after the company said it will sell its Aman Resorts luxury hotel chain in a management buy-out with an enterprise value of around $300 million (approx Rs 1,600 crore).

Rashtriya Chemicals and Fertilizers (RCF) is trading higher by 3% at Rs 57 on reports that the government may divest their stake through offer for sale to meet the minimum public shareholding requirement.

Overall market breadth in remains positive with 1,575 shares advancing and 1,027 shares declining.

Wed, Dec 19, 2012 at 12:00 PM
Markets maintaining morning gain.
Markets after opening high this morning on positive global cues, has maintained it's positive gain. Sensex with high of 19,513.11 and low of 19,447.10 is up by 106.31 points or 0.55% at 19,471.06, while Nifty with a high of 5,936.65 and low of 5,920.80 is up by 27.45 points or 0.46% at 5,924.45

Automobile and Realty stocks are trading firm, with investors betting hopes of some monetary easing early next year. Bank stocks, however, are trading mixed.

Metal stocks are extending recent gains thanks to encouraging manufacturing sector data from China. Healthcare, Oil, Consumer Durables, PSU and IT stocks are also trading firm. FMCG and capital goods stocks are a bit subdued.

Tata Motors is trading 2.75% up. Bajaj Auto is up by around 2.6% and Maruti Suzuki is trading 2.5% up. Hero Motocorp is trading higher by 0.8% and Mahindra & Mahindra is up marginally.

M&M announced that it has acquired 49% from its US joint venture partner Navistar for around Rs 175 crore, thirty months since the first product was rolled out by the JV partners. The company said it will invest more money in the venture, which will eventually become a subsidiary.

Wed, Dec 19, 2012 at 10:00 AM
Markets extend gains.
Market extended opening gains led by buying in rate sensitive sectors such as Automobiles, Real-Estate and Banking stocks, amid building confidence that the US will reach a budget deal with Congress to avoid fiscal cliff. Sensex trading up by 120 points at 19,491.91, while Nifty up by 34 points at 5,931.30.

Sectoral wise, Automobiles, Real-Estate, Banks, Metals, IT were gainers on the counter. Mid-cap and Small-cap gained 0.3-0.7%.

While laggards include HDFC falling 1%, Hindustan Unilever declined 0.3% while ICICI Bank was tad down by 0.1%.

Bank stocks rose after government cleared the banking bill paving way for foreign investments in the sector and establishment of new private banks. Moreover, hopes of policy easing by the Reserve Bank of India in January monetary policy after positive undertone in Tuesday's review aided buying in other rate-sensitives too.

Maruti Suzuki, country's biggest car maker gained 2.5% while DLF, the biggest developer in India, rose 1.4%.

Among the banking stocks, Edelweiss Financial Services, Religare Enterprises, Bajaj Finserv and Mahindra and Mahindra Financials from NBFC and State Bank of Bikaner and Jaipur, State Bank of Mysore and State Bank of Travancore from banking sector are trading higher by 3-8%.

The other notable moers include, Eros International Media which is trading higher by 2.5% at Rs 215 after the promoter of film distribution company propose to sell 2.8% of its holding in the company through Offer for Sale (OFS) to meet the minimum public shareholding requirement.

Overall market breadth is strong as 1,330 stocks gained while 601 stocks declined on the BSE.

Wed, Dec 19, 2012 at 09:30 AM
Markets open high.
Markets got off to a buoyant start this morning on positive global cues along with hopes of reforms announcement from the government too contributed to the positive start. Sensex which rose to 19,502.47 is now up 131.33 points or 0.68% at 19,494.75, while Nifty is up 36.15 points or 0.61% at 5,932.95.

Automobile, Realty, IT, Metal, Bank and Oil stocks are among the notable gainers.

December 18, 2012

Market Pulse - Dec 18, 2012


Tue, Dec 18, 2012 at 16:00 PM
Markets end higher amid volatility.
Markets ended higher, amid volatile trading session, led by Bharti Airtel and recovery in rate sensitive shares on hopes that the central bank would ease key interest rates at its next policy meet in January.

Earlier, markets had opened marginally higher ahead of the policy announcement but fell sharply after the Reserve Bank of India kept key policy rates and the cash reserve ratio unchanged. Later, markets rebounded from their intra-day lows led by Bharti Airtel and recovery in bank shares. Sensex ended higher by 120.33 points or 0.63% at 19,364.75, while Nifty ended higher by 38.80 points or 0.66% at 5,896.88. Sensex touched the intra-day high of 19,396 and low of 19,149. While, Nifty touched an intra-day high of 5,906 and the low of 5,823.

RBI kept the Cash Reserve Ratio (CRR), Repo rate and SLR unchanged. Repo rate was unchanged at 8%. CRR has been kept unchanged at 4.25%. Reverse Repo Rates has been kept unchanged at 7%.
Sectoral wise, Oil & Gas index ended on a positive note, along with Realty index, which gained 2.4% to close. Metal, Capital Goods, IT, Power, Consumer Durables, Healthcare and PSU indices also closed on higher by 0.6-1.8% each. Shares of interest-rate sensitive sectors bounced back from intra-day lows and ended higher by up to 6% after the Reserve Bank of India’s (RBI) said it expects inflation pressure to ease in the next few months, raising the hopes of a rate cut as early as January.

Bharti Airtel closed higher by 4.2% at Rs 313 after the stock recently corrected following the luke warm response from retail investors for the 4,500-crore public issue of it tower arm Bharti Infratel.

L&T ended higher by 1.3% and BHEL was closed higher by 4% after the stock recently corrected from Rs 340 levels. Metal stocks such as Tata Steel, Hindalco, jindal Steel, Sterlite Industries and Coal India advanced up to 3% each, extending their past two days gain after a preliminary version of HSBC's China manufacturing purchasing managers' index (PMI) hit a 14-month high in December 2012. Sun Pharma, Wipro, HDFC, Tata Motors, State Bankl of India, Cipla, Hero MotoCorp, Mahindra & Mahindra, NTPC and ICICI Bank also closed on a positive note up 0.6-2.6% each.

On the other hand, Maruti Suzuki, ONGC, Dr Reddys Labs, Bajaj Auto, Reliance Industries and HDFC Bank were among the notable laggards. Liberty Phosphate slumped 10% to Rs 175, extending its previous day’s about 10% fall, after the company denied a news report stating that Coromandel International plans to acquire the company. Jaiprakash Power Ventures dipped 7% to Rs 38.70 on back of huge volumes on reports that promoter sold stake in the company. A combined 18.11 million shares have changed hands on the BSE and NSE.

Overall market breadth was positive, with gainers outscoring losers by a modest margin.

Tue, Dec 18, 2012 at 15:00 PM
Markets trading firm.
Markets trading firm post Reserve Bank of India's mid-quarter monetary policy review after the central bank said that it expects inflation pressure to ease in the next few months, raising the hopes of a rate cut as early as January. Sensex has advanced 105 points to 19,350, while Nifty is up 32 points at 5,890 levels.

RBI kept the Cash Reserve Ratio (CRR), Repo rate and SLR unchanged. Repo rate was unchanged at 8%. CRR has been kept unchanged at 4.25%. Reverse Repo Rates has been kept unchanged at 7%.

Bharti Airtel is the top gainer among the Sensex stocks, up 3.6% at Rs 311. BHEL, Tata Steel, Hindalco, Sun Pharma, Larsen & Toubro, Tata Motors, Jindal Steel, Wipro, Cipla, NTPC, State Bank of India, Mahindra & Mahindra, ICICI Bank and HDFC are also trading higher by 0.6-3.4% each. On the other hand, Maruti Suzuki, Bajaj Auto, ONGC, TCS, Reliance Industries and Infosys are among the notable gainers.

Tue, Dec 18, 2012 at 14:30 PM
Markets rebound from intra-day lows
Markets rebounded from intra-day lows to break the day's high. Sensex is up by 116.83 points or 0.61% at 19,361.25, while Nifty is up by 32.70 points or 0.56% at 5,890.70. Banking shares recover after RBI leaves interest rates on hold on Tuesday but signals a cut in the repo rate in the January-March quarter. State Bank of India gains over 1 percent, while ICICI Bank is up marginally.

Tata Motors gains 1.4 percent, up for a fourth day, after stronger-than-expected November sales at Jaguar Land Rover (JLR) reduced concerns about the outlook for the key unit of the Indian auto maker.

Sun Pharmaceutical Industries gains 2.2 percent after it said on Monday Caraco Pharmaceutical Laboratories Ltd., its wholly-owned subsidiary, has acquired URL generic business from Takeda Pharmaceutical Company.

Tue, Dec 18, 2012 at 13:00 PM
Markets rise after sharp decline due to RBI’s policy maintained a status quo.
Markets raised higher, after sharp decline due to RBI maintained a status quo. Sensex is up by 72.79 points or 0.38% at 17,317.21, while Nifty up by 22.85 points or 0.39% at 5,885.85

RBI kept the Cash Reserve Ratio (CRR), Repo rate and SLR unchanged. Repo rate was unchanged at 8%. CRR has been kept unchanged at 4.25%. Reverse Repo Rates has been kept unchanged at 7%.

Shares of metal companies are trading higher by up to 3%, extending their past two days gain after a preliminary version of HSBC's China manufacturing purchasing managers' index (PMI) hit a 14-month high in December 2012.

Tata Steel, Hindalco Industries, Sterlite Industries, Sesa Goa, JSW Steel and Jindal Steel and Power are trading higher by 2-3%.

The BSE metal index, the largest gainer among sectoral indices, has surged almost 2% against less than 1% rise in benchmark Sensex at 1230 hours. The index has rallied 6% in past three trading sessions.

Tue, Dec 18, 2012 at 11:45 AM
Markets slump, key rates unchanged
Markets came off from day’s high and have skidded into negative zone after the Reserve Bank of India maintained a status quo on key policy rates and also disappointed market expectations of a cut in the cash reserve ratio. The RBI has said that liquidity will be managed to support growth.

The RBI kept the Cash Reserve Ratio (CRR), Repo rate and SLR unchanged. Repo rate was unchanged at 8%. CRR has been kept unchanged at 4.25%. Reverse Repo Rates has been kept unchanged at 7%.

By 1120 hrs, Sensex which had earlier touched an intra-day high of 19,330.60 was down 44 points at 19,200 and the 50-share Nifty which had touched an intra-day high of 5,882.70 dipped 18 points at 5,840.

Among the sectoral indices, rate sensitive Bankex and Realty indices were down between 1-2%.

Among the Sensex shares, SBI, ICICI Bank and HDFC Bank have declined between 1-2% while index heavyweights Reliance Industries and Infosys were down nearly 0.6% each.

Tue, Dec 18, 2012 at 11:30 AM
Banking shares dip post RBI policy
Banking shares are under pressure after the Reserve Bank of India (RBI) keeps repo rate and cash reserve ratio (CRR) unchanged in its mid-quarter monetary policy review today.

State Bank of India, ICICI Bank, Union Bank of India and Canara Bank are trading lower by more than 2% each on the Bombay Stock Exchange.

The banking index Bankex, the largest loser among sectoral indices, is down almost 2% compared to less than 0.50% fall in benchmark Sensex at 1105 hours.

CRR is the proportion of total deposits a bank has to keep with RBI as cash. Most of the analyst expected the central bank will cut the CRR by 25 bps points.

Tue, Dec 18, 2012 at 11:15 AM
Markets in RED as RBI maintain status quo.
Markets reversed early gains and dipped into negative terrain after the Reserve Bank of India kept key policy rates and cash reserve ratio unchanged.

Sensex which had touched a high of 19,331 was down 55 points at 19,189, while Nifty which had touched a high of 5,883 was down 21 points at 5,837.

Among Sensex shares, ICICI Bank, SBI, HDFC Bank and index heavyweights Reliance Industries, Infosys and ICICI Bank were among the top losers.

Tue, Dec 18, 2012 at 10:45 AM
Markets flat ahead of RBI policy.
Markets continue trade flat ahead of the Reserve Bank of India's mid-quarter policy review. Sensex is up by 60 points at 19,308, while Nifty has advanced 15 points to 5,872 levels.

Meanwhile, banking stocks are witnessing selling pressure in the morning deals. BSE banking index- Bankex is down 0.3% at 14,229. Oil & Gas and Metal indices are also down, while Auto, Capital Goods, Consumer Durables and Power indices are up 0.5-1% each.

Among the individual stocks, Sun Pharmaceutical Industries is trading higher by 2% at Rs 732 after the company said it has buys generic business of URL pharma through its subsidiary for an undisclosed amount.

Liberty Phosphate has slumped 10% to Rs 175, extending its previous day’s about 10% fall, after the company denied a news report stating that Coromandel International plans to acquire the company.

Jaiprakash Power Ventures has dipped 10% to Rs 37.30 in opening deals on back of huge volumes on promoter stake sale report. A combined 18.11 million shares have changed hands on the BSE and NSE.

Tue, Dec 18, 2012 at 10:15 AM
Markets sustains higher ahead of RBI policy.
Market which opened up after positive global cues and ahead of RBI policy sustaining higher side. Sensex which rose to 19,330.60 after opening nearly 74 points up 19,319, is currently up 66.40 points or 0.35% at 19,310.82, while Nifty is up by 17.80 points or 0.3% at 5875.70.

Sun Pharmaceutical Industries shares are up 1.6% at Rs 731 following a wholly-owned subsidiary of the company entered into a definitive agreement with Takeda Pharmaceuticals USA to acquire Takeda's URL Pharma, Inc. generic business.

Tue, Dec 18, 2012 at 09:30 AM
Markets opens higher ahead of RBI policy.
Markets opens firm this morning amid positive global cues, ahead of RBI policy. Sensex, opened 74 points up at 19,319, while Nifty opened 23 points up at 5,881.

However, the mood is slightly cautious ahead of the central bank's monetary policy review. Metal, Realty, Capital Goods, Power and Consumer Durables stocks are among the notable gainers. Healthcare, FMCG and Oil stocks too are finding modest support. Auto, IT and bank stocks are a bit subdued.

December 17, 2012

Market Pulse - Dec 17, 2012


Mon, Dec 17, 2012 at 15:30 PM
Markets paused ahead of RBI policy.
Markets after opening on a cautious note and trading in a tight range for couple of hours drifted lower as investor chose to take some profits ahead of the RBI's monetary policy review. A weak trend in global market amid concerns about the U.S. fiscal cliff and doubts about the near term outlook for global economies contributed as well to the market's decline. A downward revision in India's growth forecast weighed as well. Sensex hit the high of 19,346.78 and low of 19,221.87 before closing with the loss of 72.83 points or 0.38%, while Nifty slightly off the day's low of 5,850.15, losing 21.70 points or 0.37% to close at 5857.90.

Sectorial wise IT stocks traded weak almost right through the session, FMCG, Oil and Capital Goods stocks too mostly ended on a weak note. Bank, Realty and Consumer Durables stocks lacked support. Metal stocks had a good session, along with select Automobile, Healthcare and Power stocks too closed on a firm note. Mid-cap and small-cap stocks attracted buyers.

Bharti Airtel ended lower by 3.6%. Tata Consultancy Services lost around 2.8%. HDFC, BHEL, HDFC Bank and Wipro declined by 1.4% - 1.8%. ITC, Coal India, Reliance Industries, GAIL India and Infosys also closed weak. BPCL, Siemens, Jaiprakash Associates, Ambuja Cements, Lupin, Reliance Infrastructure, Asian Paints and Ultratech Cement ended with sharp to moderate losses.

Metal stocks had a good session thanks to an encouraging report on Chinese manufacturing activity. Sterlite Industries (4.1%), Hindalco (3.5%), Sesa Goa (2.85%), Jindal Steel & Power (2.4%) and Tata Steel (up nearly 0.5%) closed on a high note.

Maruti Suzuki, Bajaj Auto, Mahindra & Mahindra and Tata Motors gained 0.7% - 1.8%. Grasim Industries, Ranbaxy Laboratories, Punjab National Bank, Cipla, NTPC, State Bank of India, Hindustan Unilever, Power Grid Corporation, Tata Power, ICICI Bank, Dr Reddy's Laboratories and Sun Pharmaceutical Industries also moved higher. Honeywell Automation, Fortis Healthcare, Nalco and Suzlon Energy surged higher on stock specific news.

Out of 3028 stocks traded on BSE, 1540 stocks moved up. 1350 stocks declined and 138 stocks ended flat.

Mon, Dec 17, 2012 at 15:30 PM
Markets ends lower.
Markets ended lower, ahead of the RBI's mid-quarter monetary policy review, weighed down by selling pressure in HDFC Group shares along with ITC and TCS. Sensex provisionally ended down 72 points at 19,245, while Nifty ended down 23 points at 5,857.

IT, Oil, FMCG and Consumer Durables stocks edged lower, while Capital Goods stocks too mostly ended on a subdued note and Realty and bank stocks mostly ended flat. Metal stocks had a good outing , along with it Automobile, Pharma and Power stocks moved higher. Select midcap and smallcap stocks posted strong gains.

The market breadth was slightly positive.

Mon, Dec 17, 2012 at 14:30 PM
Markets trading lower in noon trades
Market is trading lower in noon trades after government lowered its official growth forcast to between 5.7% and 5.9% for this fiscal year. The finance ministry's mid-year economic review, has however, said it was on track to meet a fiscal deficit target of 5.3%. Meanwhile Sensex is now down by 87.77 or 0.45% from its previous close, while Nifty is down by 27.75 points or 0.47% at 5852.25.

Mon, Dec 17, 2012 at 14:00 PM
India has lowered its official growth forecast to between 5.7 and 5.9 percent for this fiscal year, the finance ministry's mid-year economic review said on Monday, but said it was on track to meet a fiscal deficit target of 5.3 percent.

The budgeted forecast for GDP growth in the 2012/13 fiscal year was 7.6 percent, but growth was just 5.4 percent in the first half of the year. Finance Minister P. Chidambaram recently projected growth of between 5.5 and 6 percent for the year.

The government has struggled to contain the deficit, which has swelled because of costly oil subsidies and sluggish tax revenues, prompting global ratings agencies to warn of a possible credit downgrade.

Mon, Dec 17, 2012 at 10:30 AM
Markets trade cautiously, RBI policy key
Markets continued to trade cautiously in morning trades ahead of the RBI's policy announcement tomorrow amid fear it may maintain status-quo and wait until January before cutting interest rates. Sensex rose 16 points and traded at 19,333, while Nifty gained 2 points and traded at 5,881.

Technology, Consumer Durables and fast moving Consumer Goods indexes led fall while Metal, Automobiles, Health Care sector led gains.
he laggards include Bharti Airtel falling 1%, ITC declined 0.6% and Tata Consultancy Services, Wipro fell 1% each in technology space while among gainers Maruti Suzuki rose 2.3% and Hindalco rose 2%, Sterlite Industries gained 1% in metal space.

Mon, Dec 17, 2012 at 09:30 AM
Markets starts off cautious.
Markets got off to a cautious start this morning with investors tracking weak global cues. Sensex declined to 19,284 from its previous close, while Nifty down by 4 points to 5,875.60.

Capital goods, FMCG, oil, bank and realty stocks are mostly subdued. IT, metal and healthcare stocks are finding modest support.

December 15, 2012

Weekly Pulse - Dec 15, 2012

Weekly Update - Dec 15, 2012

Bharti Infratel IPO
Bharti Infratel IPO subscribed 1.3 times. Of the total shares reserved for retail investors, there were bids for just 6%, while institutional investors category was subscribed 10%.

The biggest IPO in over 2 year, made by telecom tower company Bharti Infratel, has received total subscription of over Rs 4,365 crore or 1.3 times the issue size. The IPO, biggest since Coal India's offer in October 2010, attracted bids for over 20.78 crore shares -- of the 18.89 crore equity shares offered in the main book building process -- translating to 1.3 times subscription.

Of the total shares reserved for retail investors, there were bids for just 6%, while institutional investors category was subscribed 10%.

On the other hand, the Qualified Institutional Buyers (QIBs) book, which closed yesterday, was subscribed 2 times.

The issue was in the price band of Rs 210-240 a share. It had opened on December 11.

At the upper end of the price band, Bharti Infratel was to raise about Rs 4,533.60 crore, while at the lower end it could end up with Rs 3,966.90 crore.

The equity shares are proposed to be listed on the Bombay Stock Exchange and the National Stock Exchange.

Sunil Bharti Mittal led-company Bharti Airtel, which owns about 86% of Bharti Infratel, is not participating in the share sale.

The company has said the proceeds from the IPO will be used to fund its expansion and future acquisitions.

Bharti Infratel on Monday received Rs 651.7 crore from 18 anchor investors, including Morgan Stanley and Sundaram MF.

The company had priced shares for the anchor investors at Rs 230 a piece, and allocated 2.83 crore shares (15% of the issue size) to them, Bharti Infratel had said in a filing to the BSE.

The joint book running lead managers to the IPO are DSP Merrill Lynch, JP Morgan India, Standard Chartered Securities (India) and UBS Securities India.

The issue's lead managers are Barclays Securities (India), Deutsche Equities India, Enam Securities, HSBC Securities and Capital Markets (India) and Kotak Mahindra Capital Company.

The co-book running lead managers to the issue are BNP Paribas, DBS Bank, HDFC Bank and ICICI Securities.

Bharti Infratel is the first tower company to come out with an IPO. Other players in the tower business include Anil Ambani-led Reliance Infratel, and Viom Networks -- a joint venture between Tata Teleservices and Kolkata-based Quippo Infrastructure.

Market Turn Over
Total market turnover for both the Bombay Stock Exchange and National Stock Exchange was Rs 1.81 lakh crore on Friday.

On the Bombay Stock Exchange, turnover in the cash segment amounted to Rs 2,423 crore while the derivatives segment registered a turnover of Rs 36,665 crore.

On the National Stock Exchange, turnover in the cash segment was Rs 11,382 crore while the turnover in the derivatives segment was Rs 1,30,742 crore.

Markets ended marginally lower for the week.

Markets ended lower for the week neglecting better than expected IIP data and easing inflation numbers with the Sensex down by 0.5% to 19,317.25, while Nifty down by 0.47% at 5,879.60 to end the week.

Sectoral wise, after weeks of out-performace, Small-cap and Mid-cap corrected over 1% each, underperforming the benchmark indices.

On the macro front, inflation fell to a 10-month low of 7.24% in November, from 7.45% in the previous month, increasing hopes of a rate cut by the RBI. It's the last crucial data before the RBI's monetary policy review on December 18. A rate cut by RBI would improve economic growth, languishing below six per cent for three quarters in a row till July-September 2012-13.

Economists, expects RBI will maintain a status however, said RBI will maintain a status quo on the rate front on December 18. YES Bank Chief Economist Shubhada Rao said: “We expect RBI to maintain status quo in its mid-quarter review on December 18, though it is likely to acknowledge the early moderation in price pressures.”

Also, industrial production growth rate bounced back to a 16-month high of 8.2% in October on good performance of the manufacturing, power sector and higher output of capital as well as consumer goods, indicating sudden recovery in the economy. The factory output, as measured by the Index of Industrial Production (IIP), contracted by 5% in October last year.

Meanwhile, India's exports in November contracted 4.17% year-on-year, for the seventh month in a row, to $22.2 billion, due to slowdown in demand in the US and European markets. However imports grew by 6.35% to $41.5 billion in November, leaving a trade deficit of $19.28 billion. The trade deficit increased to $19.28 billion in November 2012 from $15.83 in November 2011.

Amidst the improving macros, foreign institutional investors continued to remain positive with a purchase of shares worth Rs 13,278.20 crore for the month of December so far .

Back to the markets, among the sectoral indices, Consumer Durables, Power, Capital Goods, PSU, Realty and FMCG indices lost 1.5-4.6% and Oil & Gas slipped 0.8%. On the other hand, the winners were Health Care up 0.1%, Bankex added 0.6% and the top gainer was Auto index which rode up 2%.

The movers in the auto space were Bajaj Auto, Tata Motors, Hero MotoCorp and Mahindra & Mahindra which gained 1-7%.

Apart from the auto names, the top gainers among the Sensex-30 were Jindal Steel, Sun Pharma and HDFC which added 2-5%. The other notable gainers were Tata Steel, Reliance Industries, ICICI Bank, SBI and Sterlite which stepped up between 0.3-0.6%. Among the draggers were BHEL, NTPC, Tata Power, Bharti Airtel, Hindalco, ONGC, Coal India, HUL, Maruti Suzuki, TCS, L&T, ITC and Infosys lost 2-7%.

For the coming week, markets are likely to reamin volatile with the RBI's mid-quarter monetary policy which is scheduled on 18th of this month wherein a rate cut is anticipated.

December 14, 2012

Market Pulse - Dec 14, 2012


Fri, Dec 14, 2012 at 17:00 PM
Markets closes up, as NOV WPI eases.
Markets gained on the last trading session of the week, led by bank shares after unpredicted November inflation, impelling hopes for a rate cut by RBI. November inflation eased from 7.45% to 7.24%, against estimation evaluated by analysts of 7.6%, supported by easing annual fuel and manufacturing inflation. Sensex ended up by 88 points or 0.5% at 19,317.25, while Nifty ended up by 28 points or 0.5% at 5,879.60.

Sector wise, Bank, Real-Estate, Auto and Metal index gained, while Power, Consumer Durables and Power sector declined.

Stock wise, gainers include Sterlite Industries and Hindalco Industries gained nearly 4%, Wipro rose 1%, TCS gained 1.6%, Tata Motor gained 1%, Mahindra & Mahindra gained 1%, and SBI gained 3% and ICIC Bank Ltd 1% respectively. Decliners were BHEL down by 1.4%, Bharati Airtel down by 1.5%, while Dr. Reddy’s and Cipla both were down by 1% each.

The other notable movers include, fertiliser companies that rallied up to 18% in opening deals after the Cabinet Committee on Economic Affairs (CCEA), on Thursday, approved a urea investment policy, which is likely to incentives fertilizer companies to set up new plants and expand existing capacity. Fertilisers and Chemicals Travancore (FACT) rallied 16% to Rs 31.95 on the BSE. National Fertilisers, RCF, Chambal Fertilisers and GSFC gained nearly 1% each today. ABG Shipyard gained 2% after the company has bagged a repeat order worth Rs 485 crore from the Ministry of Defence for building an additional cadet training vessel for the Indian Navy.

Honeywell Automation India dipped almost 7% iintra-day after its promoter - Honeywell Asia Pacific Inc. - fixed the floor price for the offer-for-sale (OFS) at Rs 2,150, a 10% discount to Thursday’s closing on the BSE. Geodesic fell 5% for eighth day in a row, and was locked in lower circuit at Rs 29.45 with no buyers on the counter after the company said that lenders have invoked large number of pledge shares held by them.

Bharti Airtel, country's biggest mobile-phone operator's arm, Bharti Infratel's initial public offering for up to $830 million was fully covered on Thursday amid lukewarm response from retail and NIIs.

Tata Motors extended Thursday's gains triggered by its British car unit Jaguar Land Rover (JLR) reporting good November sales. The stock ended up 1%.

The BSE mid-cap rose 0.6% while small-cap gained 0.1%. Overall market breadth was negative as 1,470 stocks declined compared to 1,455 stocks advanced on the BSE.

Fri, Dec 14, 2012 at 15:30 PM
Markets ending up, aided by easing NOV WPI.
Market ended up aided by unpredictably easing inflation in November, impelling hope of RBI’s easing interest rates early next year. Sensex index gained 93 points or 0.5% to end at 19,322.2 provisionally while Nifty gained 32 points or 0.55% to provisionally end at 5,884.

Fri, Dec 14, 2012 at 15:00 PM
Markets continue to applaud slackening WPI rate.
Markets continued to gain in afternoon session trades on rate cut hope by the RBI by early next year after country’s headline inflation eased unpredictably. Sensex gained by 60 points to 19,289, while Nifty gained by 18 points at 5,869.

Fri, Dec 14, 2012 at 14:00 PM
Markets volatile in noon trades
Markets are trading on a volatile fashion this afternoon with the Sensex gaining 45 points at 19,279. Nifty is down 14 points at 5,865. November inflation fell to 7.24% from 7.45% in October, government data showed on Friday. The street was expecting November WPI to be around 7.6%.

Realty index has added 1%, while Metal, Bankex and IT indiecs are up half a per cent each. Meanwhile, weakness can be seen in Consumer Durables index which is down a per cent at 7784.

SBI is gaining up by 1.7%, TCS is up by 1.5%. Tata Motors has extended Thursday's gains triggered by its British car unit Jaguar Land Rover (JLR) reporting good November sales. The stock is up 1.5% at Rs 292. Metal stocks have moved up as a preliminary version of HSBC's manufacturing Purchasing Managers' Index hit a 14-month high in December 2012. Sterlite, Jindal Steel, Tata Steel and Hindalco are up 0.5-1.5% each.

Bharti Airtel, country's biggest mobile-phone operator's arm, Bharti Infratel's initial public offering for up to $830 million was fully covered on Thursday amid lukewarm response from retail and NIIs. Shares of Bharti AIrtel were trading at Rs 310 - down 2%.

The other notable movers include, Shares of fertiliser companies rallied up to 18% in opening deals after the Cabinet Committee on Economic Affairs (CCEA), on Thursday, approved a urea investment policy, which is likely to incentives fertilizer companies to set up new plants and expand existing capacity.

Overall market breadth is neutral. Out of 2,751 stocks traded, 1308 shares have advanced while 1317 shares delcined.

Fri, Dec 14, 2012 at 12:00 PM
November WPI inflation at 7.24 percent vs October WPI at 7.45 percent
India's wholesale price index (WPI) rose a slower-than-expected 7.24 percent in November from a year earlier, government data showed on Friday. Analysts had expected WPI to rise 7.6 percent. The reading for September was revised up to 8.07 percent from 7.81 percent earlier.

Fri, Dec 14, 2012 at 12:00 PM
Markets range bound.
Markets range bound after opening flat with Sensex is up 0.01 percent while the Nifty falls 0.02 percent. Traders are cautious and aawaiting outcome of the inflation data due later in the day and for more clarity on the RBI's policy meet next week.

Capital goods maker, Larsen & Toubro gains 1 percent after cabinet approved the creation of a special panel on Thursday to speed up the implementation of big-ticket infrastructure projects.

ITC falls 1.6 percent, down for a second day after FTSE lowered its free float weighting for the cigarette maker in its global equity index series.

Fertiliser shares gain after the government approved a new policy to encourage investment in urea manufacturing, in a move seen expediting $6.5 billion in projects that have been held back.

National Fertilizers is up 3.2 percent, Rashtriya Chemicals and Fertilizers gains 2.8 percent, while Chambal Fertilisers and Chemicals rise 1.7 percent.

Fri, Dec 14, 2012 at 10:00 AM
Markets range bound.
Markets opened flat on caution ahead of inflation data scheduled later today that is likely to decide the RBI's monetary policy stance next week. Experts fear inflation may quicken from 7.45% in October as weak currency pushed up the price of imported fuel. Sensex up by 5 points at 19,234, while Nifty down by 2 points at 5849.

Among key stocks, in Information Technology sector, Wipro, Tata Consultancy Services and Infosys gained 0.4-1% while in Automobiles sector, Bajaj Auto, Maruti Suzuki and Mahindra and Mahindra rose nearly 0.5%. The laggards include, ITC which fell 1%, ICICI Bank dropped 0.3% while Bahrti Airtel was down 0.1%.

The other notable movers include, Shares of fertiliser companies rallied up to 18% in opening deals after the Cabinet Committee on Economic Affairs (CCEA), on Thursday, approved a urea investment policy, which is likely to incentives fertilizer companies to set up new plants and expand existing capacity.

Fertilisers and Chemicals Travancore (FACT) has rallied 18% to Rs 32.60 on the BSE. National Fertilisers, RCF, Chambal Fertilisers, GSFC and Deepak Fertiliser are trading higher by 2-5%.

Public sectors banks such as Punjab National Bank, Bank of Baroda and Canara Bank fell 0.5-1.5% after the rating agency Moody's revised the rating outlook to negative from stable due to worsening asset quality.

ABG Shipyard gained 2% after the company has bagged a repeat order worth Rs 485 crore from the Ministry of Defence for building an additional cadet training vessel for the Indian Navy.

Honeywell Automation India has dipped almost 7% in opening deals after its promoter - Honeywell Asia Pacific Inc. - fixed the floor price for the offer-for-sale (OFS) at Rs 2,150, a 10% discount to Thursday’s closing on the BSE.

Bharti Airtel, country's biggest mobile-phone operator's arm, Bharti Infratel's initial public offering for up to $830 million was fully covered on Thursday amid lukewarm response from retail and NIIs.

The BSE mid-cap and small-cap indices rose by nearly 0.3-0.4%. Overall market breadth is positive as 956 stocks have advanced while 731 stocks declined on the BSE.

Fri, Dec 14, 2012 at 09:30 AM
Markets opens positive.
Markets edging up a bit in early trades, now eased to lower levels amid cautions move by the investors. Sensex, which advanced to 19,263.63, dropped down to around 19,195 before moving up to 19,250, gaining about 20 points. While Nifty is up 7 points at 5858.50.

Realty, Healthcare, Metal, Power and Bank stocks are finding some support, while FMCG and Consumer Durables have opened on a weak note.

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