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.

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