January 11, 2013

Market Pulse - Jan 11, 2013


Fri, Jan 11, 2013 at 16:30 PM
Markets ends lower.
Markets, after optimistic start, skid into negative zone and finally ended marginally lower, amid investors opted to trade cautiously ahead of inflation data scheduled next week. Trading was volatile with IT companies leading gains after better than expected Infosys' third quarter results, however, gains were capped on growth recovery concerns after weaker-than-expected November industrial output. Sensex inched up by 0.09 point at 19,663.64, while Nifty felling by 17.35 points at 5,951.30.

Sectoral wise, barring IT, Consumer Durables indexes, all sectoral indices plunged down with FMCG, PSU, Power, Real-Estate, Banks, Capital Goods sectors leading declines. Mid-caps and Small-caps also declining by 1.6% each.

Major loosing stocks were, ONGC down by 3.3%, ITC and HUL down by over 2.5% and 3.5%, Bharti Airtel declined by 1.6% , BHEL declined by 2%, SBI and ICICI Bank down by 2% and 1.5% each, while Reliance Industries down by 1.2%.

Major gainer stocks were, Infosys gaining by 16%, Wipro and TCS rising by 4-6%, while Sterlite Industries up by 1%. Shares of information technology (IT) companies are in focus after Infosys reported a better-than-expected net profit for the third quarter ended December 2012 (Q3) and upped its full year guidance.

The other key notable movers are, Scooters India locked in lower circuit of 5%, on reports that the government deferred the revival plan of the company.

Parkeh Aluminex tanking by 10%, locked in maximum lower permissible limit for second day in a row after the company said Mr Amitabh Parekh, the founder chairman and managing director of the company expired on January 06, 2013.

Overall market breadth was negative, of 3,078 stocks traded, 1,963 stocks declined compared to 985 advanced.

Fri, Jan 11, 2013 at 15:30 PM
Markets ends lower.
Markets ended down after a volatile session as investors kept booking profits in index heavyweights, mid-cap, small-cap stocks after weaker-than-expected November industrial output. Sensex down by 24 points and ending at 19,639.34 (provisionally), while Nifty down by 17.35 points at 5,951.30 (provisional)

Fri, Jan 11, 2013 at 15:00 PM
Markets trading flat.
Sensex is up by 0.15 percent, while the NSE Nifty is down 0.14 percent.

The gains were primarily led by a rally in software services exporters, after Infosys surprised markets by raising its revenue outlook and posting better-than expected earnings.

Infosys is up 16.4 percent, while Tata Consultancy Services Ltd (TCS.NS) shares gain 4.2 percent ahead of earnings on Monday.

Outside of IT stocks, most sectors and stocks fell.

Fri, Jan 11, 2013 at 11:30 AM
Markets trading flat.
Markets which opened firm, amid better than expected Q3 Infosys result. Sensex, which rose declined to around 19,727.12 after rising to 19,839.80 in early trades, is currently at 19,756.80, up by 93.25 points or 0.47% from its previous close, while Nifty is up by 18 points or 0.3% at 5986.65, more than 30 points off the day's high of 6018.85.

Fri, Jan 11, 2013 at 11:30 AM
Markets trading firm.
Markets trading firm after upbeat Infosys third quarter results ignoring sudden contraction in November industrial output. Sensex gaining by 95 points at 19,758.55, while Nifty rising by 18 points at 5,986.65.

Fri, Jan 11, 2013 at 11:30 AM
IIP.
India's Industrial Production fell 0.1% in November from a year earlier, government data showed on Friday.

Analysts polled by Reuters had expected output to grow 0.7% annually. Revised data for October showed production at factories, mines and utilities grew 8.3% compared with 8.2% earlier.

Manufacturing, which constitutes about 76 percent of industrial production, rose by 0.3% from a year earlier, the federal statistics office said.

In the April-November period, industrial production expanded an annual 1.0%.

Fri, Jan 11, 2013 at 10:00 AM
Markets open firm.
Sensex, which spurted to 19,839.80 in early trades, is currently up by 111 points or 0.57% at 19,774.55, while Nifty is up by 23.95 points or 0.4% at 5992.60.

Infosys Limited has reported a net profit of Rs 2265 crore for the quarter ended December 2012, as compared to a net profit of Rs 2235 crore it had recorded in the previous quarter. However, the standalone revenue for the third quarter rose by 8.3%. The company reported a revenue of Rs 9,878 crore as compared to Rs 9,118 crore in the corresponding period a year ago.

On consolidated basis too the IT giant reported a flat net profit at Rs 2,369 crore as against Rs 2,372 crore in the previous quarter ended September 2012. The revenue rose 12.4% at Rs 10,927 crore as against Rs 9,720 crore in the previous quarter.

Fri, Jan 11, 2013 at 09:30 AM
Markets open firm.
Markets have opened firm this morning, piggybacking on a strong set of numbers from IT bellweather Infosys. Sensex spurted to 19,839.80 in early trades, and is currently up by 118 points or 0.65 at 19,781.55, while Nifty is up by 30 points or 0.5% at 5998.65, off an early high of 6012.40.

IT index is up nearly 6.5% with Infosys gaining as much as 12%. HCL Technologies, TCS, Wipro, Tech Mahindra and Mahindra Satyam are also up with strong gains. However, FMCG index has slipped by 1%, Oil & Gas, Capital Goods, Power and Bankex shedding by 0.2-0.5% each.

Sterlite and Tata Steel are also in the green. On the other hand, ONGC has slipped by 2%, ITC down by 1.7%, among other losers are Tata Power and GAIL.

Overall market breadth is neutral, of 1,877 stocks traded, 919 shares advancing compared to 887 shares declining.

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