January 29, 2013

Market Pulse - Jan 29, 2013


Tue, Jan 29, 2013 at 17:30 PM
Markets ended negative, amid profit booking.
Markets closed negative, amid profit booking by investor on higher levels. Markets after opening weak in the morning gained to day's high in early noon session, but later it slipped from day's high to close negative. Sensex closed down by 112.45 points or 0.56% after at 19,990.90, while Nifty closed down by 25.10 or 0.41% at 6,049.90.

Sector wise, barring FMCG index which closed up by 0.70%, all other indices closed in red. Real-Estate and Auto index closed down by 2.07% and 1.12%, IT, Healthcare, PSU, Bank, Metal and Power indices down between 0.33-0.70% respectively. Mid-cap index was down by 0.57%, while Small-cap index declined by 0.91%.

Overall market breadth was negative, of 2,974 stocks traded, 1,686 shares declined compared to 1,163 shares advanced.

Coal India surged 1.7% to Rs 348, bucking the general trend. ITC added 1% at Rs 304, followed by Hero MotoCorp and ICICI Bank, while Hindalco slumped 3% at Rs 115. Bajaj Auto shed 2.6% at Rs 2,031. HDFC Bank, Bharti Airtel, BHEL and GAIL ended down around 2% each.

RBI lowered its growth projection for the Indian economy as new investment demand continues to remain muted. The banking regulator now expects the domestic gross domestic product (GDP) growth at 5.5% in the current financial year. It had earlier projected 6.5% growth in July, 2012. But lowered it to 5.8% three months later as investment demand slowed, consumption spending moderated and export performance eroded.

RBI said that it has reduced the repo rate, the rate at which RBI lends money to scheduled banks, under the liquidity adjustment facility (LAF) by 25 basis points from 8% to 7.75% with immediate effect. RBI has also decided to reduce the CRR of scheduled banks by 25 basis points from 4.25% to 4% of their net demand and time liabilities (NDTL) effective the fortnight beginning February 9, 2013.

Tue, Jan 29, 2013 at 15:30 PM
Markets ends lower.
Markets ended lower, after opening weak in the morning. Sensex has ended (provisional) at 19,989 - down 114 points. Nifty ended down 25 points at 6,050.

Tue, Jan 29, 2013 at 13:00 PM
Markets continue to trade firm.
Markets continued to trade positive, amid buying in rate sensitive shares after RBI announced a rate cut in repo rate and cash reserve ratio by 25 basis points. Sensex was up 25 points at 20,128, while Nifty was up 18 points at 6,093.

The central bank said that it has reduce the policy repo rate, the rate at which RBI lends money to scheduled banks, under the liquidity adjustment facility (LAF) by 25 basis points from 8% to 7.75% with immediate effect. RBI has also decided to reduce the CRR of scheduled banks by 25 basis points from 4.25% to 4% of their net demand and time liabilities (NDTL) effective the fortnight beginning February 9, 2013.

Sector wise, Real-Estate indice was up by 1.2%, Bank, Metal and Auto indices were also trading up, while Oil & Gas and Consumer Durables were trading negative. Mid-cap index was up by 0.3% and the Small-cap index was up by 0.1%.

Real-Estate shares gained on hopes of revival of home sales on the back of lower interest rates on home loans. DLF gaining up by 1.3%, Sobha Developers up by 4.3%, Dewan Housing gained by 3.1%, while Parsvnath Developers up by 2.1%.

Bank shares were trading firm on hopes of loan growth going forward as when they lower lending rates post the central banks decision to ease key policy rate. ICICI Bank gained up by 2.6%, State Bank of India up by 0.8% and HDFC up by 0.3%.

Tata Motors was up by 1.6%, Hero MotoCorp was up by 0.7%, Maruti Suzuki was up by 0.5%, on hopes that vehicle sales growth would improve going forward on the back of lower interest rates on auto loans. Jindal Steel gained up by 1.4%, Sterlite Industries up by 1.2% and Hindalco Industries up by 0.2%, other gainers include, ITC, Bharti Airtel, Cipla and Coal India.

Overall market breadth is weak, of 2,567 stock traded, 1,303 stocks declined compared to 1,264 stocks gaining.

Tue, Jan 29, 2013 at 11:30 AM
Markets surged up.
Markets spurted up after RBI at its policy meet today announced a cut in repo rate and cash reserve ratio by 25 basis points. However, selling pressure at higher levels wiped off most of the gains only to rebound later led by rate sensitive shares. Sensex is up by 90.27 points or 0.45% at 20,0080.31, while Nifty is up by 35.95 or 0.59% at 6,110.75.

Sector wise, barring Consumer Durables which is down by 0.48%, all other indices turned positive. Real-Estate and Bank indices up by 1.55% and 1.22% each, while Metal, Auto, Healthcare, Capital Goods, PSU, Power, Oil & Gas, FMCG and IT indices were between 0.67-0.05% respectively.

RBI said that it has reduce the policy repo rate, the rate at which RBI lends money to scheduled banks, under the liquidity adjustment facility (LAF) by 25 basis points from 8% to 7.75% with immediate effect. RBI has also decided to reduce the CRR of scheduled banks by 25 basis points from 4.25% to 4% of their net demand and time liabilities (NDTL) effective the fortnight beginning February 9, 2013.

State Bank of India, ICICI Bank and Kotak Mahindra Bank from banking, Sobha Developers, Oberoi Realty and HDIL from realty and Ashok Leyland, Maruti Suzuki India and Hero MotoCorp are trading higher by 1-3%.

Tue, Jan 29, 2013 at 10:45 AM
Markets trading weak.
Markets after opening a bit weak is trading subdued. Sensex is down by 46.98 points or 0.23% at 20,080.31, while Nifty is down by 9 points or 0.15% at 6,065.80.

Sector wise, barring Healthcare which is up by 0.35%, all other sectors are trading negative. Capital Goods, Metal, IT, PSU, Power, FMCG, Oil & Gas, Bank, Auto, Consumer Durables and Real-Estate indices down between 0.03-1.09% respectively.

Tue, Jan 29, 2013 at 09:30 AM
Markets opened weak.
Markets opened weak with investors keenly looking forward to the Reserve Bank of India's review of monetary policy. Sensex is down by 14.80 points or 0.08% at 20,088.55, while Nifty is down by with a loss of 1.10 points or 0.02% at 6073.70.

Sector wise, Real-Estate, Consumer Durables and Oil & Gas sectors have opened negative, while Metal, Healthcare and Auto sectors are up with modest gains. Where as Bank, FMCG and IT stocks are mostly trading flat.

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