Stock Updates

Mkts ranged; SBI, DLF, ICICI, Tata Steel, L&T gain

2008-12-03T01:28:00.000-08:00

The markets are trading rangebound. The Nifty is swinging between 2693.65 and 2620.60. SBI, DLF, ICICI Bank, Tata Steel, L&T, PNB, SAIL, Maruti, Reliance Infrastructure, HDFC, and Tata Motors are trying to support the markets. However, selling continues in Infosys, ONGC, Bharti, Wipro, NTPC, RIL, ITC, Reliance Communications, Hero Honda, Hindalco, Ranbaxy Laboratories, Satyam, BHEL, and TCS.

The Sensex fell 41 points to 8,697 and the Nifty lost 19 points to 2,638, at 2:07 hours IST. However, BSE Midcap Index gained 1% and Small Cap Index rose 0.3%.

Market breadth is mixed; about 1414 shares have advanced while 1335 shares have declined. Nearly 449 shares are unchanged.

On the global front, European markets are trading weak. FTSE 100 fell 0.60 points to 4,098. CAC and DAX tumbled 1.10% and 1.49% to 3,118 and 4,464, respectively.

Markets @ 12:42 pm : Mkts choppy; RIL seeing high volatility

The benchmark indices are still trading volatile. Buying is seen in banking, metal, power, realty and select capital goods stocks. Midcap and smallcap stocks are on buyers' radar. However, selling continues in ONGC, Bharti, Infosys, Wipro, Idea, HUL, Hero Honda, Sun Pharma, Satyam, and Hindalco. Reliance Industries is the most volatile stock in today's session.

The Sensex rose 20 points to 8,759 and the Nifty gained 0.65 points at 2,658, at 12:42 hours IST. BSE Midcap Index shot up nearly 1.5% and Small Cap Index rose 0.7%.

Among the frontliners, Tata Steel, DLF, Suzlon Energy, SBI and ICICI Bank rose 4-8.5%.

Market breadth is slightly positive; about 1424 shares have advanced while 1329 shares have declined. Nearly 445 shares are unchanged.

In the midcap space, GMDC, Advanta, Kingfisher Airlines, LIC Housing Finance and Shoppers Stop jumped 8-14%. Among the small cap stocks, Force Motors, Piramal Glass, Indo Tech Transformers, Sparsh BPO Svcs and Techno Electric gained 10-20%.

Markets @ 11:32 am : Mkts volatile; Nifty hovering around 2650

The benchmark indices are trading volatile. Buying is seen in SBI, Reliance Industries, Tata Steel, ICICI Bank, SAIL, L&T, HDFC, TCS, Sterlite, Suzlon Energy, DLF, Unitech, and Tata Motors. However, Bharti, ONGC, Infosys, ITC, Wipro, HUL, Idea, Hero Honda, Satyam, Ambuja Cements, Hindalco, Maruti, Tata Power, and M&M are pulling the indices down.

The Sensex lost 28 points to 8,711 and the Nifty fell 13.5 points to 2,644, at 11:32 hours IST. BSE Midcap gained 1% and Small Cap Index rose marginally.

Market breadth is slightly weak; about 1301 shares have advanced while 1444 shares have declined. Nearly 453 shares are unchanged.

Markets @ 10:31 am : Mkts weak; Bharti, ONGC, NTPC, Infosys, TCS down

The markets are trading weak and are seeing some volatility. Telecom, technology, FMCG, power, select oil and capital goods stocks are under pressure. However, major metal stocks are on the buyers' radar. The Nifty is trading below 2650 level.

The Sensex fell 82 points to 8,657 and the Nifty lost 29 points to 2,628, at 10:31 hours IST. BSE Midcap and Small Cap indices gained marginally.

Bharti Airtel, ONGC, NTPC, Infosys, TCS, ITC, HDFC Bank, BHEL, DLF, Maruti, HDFC, Tata Power, Ambuja Cements, Hindalco, M&M and Reliance Communication are weak. However, Tata Steel, Sterlite Industries, SAIL, Suzlon Energy, Tata Motors and Unitech are gainers.

Amit Khurana, Head-Equity, Collins Stewart, expects the markets to remain rangebound. “The markets will be unable to break this range for quite sometime. With the stimulus packages that the government is likely to announce, the market may hold within its range. However, the market would take time to discount any news flows going forward.”

Market breadth is in favour of declines; about 1242 shares have advanced while 1509 shares have declined. Nearly 447 shares are unchanged.

On the global front, Asian markets are trading mixed. Shanghai, Hang Seng, Nikkei and Straits Times rose 1-1.6%. However, Kospi and Taiwan fell 0.5-1%.

Markets @ 9:57 am : Mkts choppy; RIL, SBI, Tata Steel, L&T, SAIL up

The markets bounced back in early trade following positive global cues, but immediately turned volatile. The Nifty is hovering around 2650 level.

At 9:57 am, the Sensex rose 21 points to 8,760 and the Nifty gained 2.7 points at 2,660.50. CNX Midcap 100 went up 29 points to 3,258.

Unitech, Tata Steel, Reliance Infrastructure, Reliance Industries, Tata Motors, Suzlon Energy, HDFC, Jaiprakash Associates, ICICI Bank, DLF, SAIL, L&T, SBI and Dr Reddys Labs are gainers.

However, ONGC, Bharti Airtel, Infosys, HDFC Bank, ITC, Wipro, TCS, Idea, Maruti, Sun Pharma and Ambuja Cements are under pressure.

Dr Reddys Labs jumped nearly 4%, as German drug maker AOK shortlisted the company for supply of several drugs. AOK had called for tenders for supply of 64 products.

Tata Steel rose 5.5% after its consolidated numbers. Its net sales increased to Rs 44,198.97 crore from Rs 32424.9 crore and net profit was up at Rs 4,703.64 crore versus Rs 3342.4 crore. Margins shot up to 17.6% versus 15.2%.

US markets rallied, rebounding from the market's worst tumble since October, after General Electric announced plans to maintain its dividend and the Federal Reserve extended terms of three emergency loan programs.

On closing bell, Dow Jones ended up 270 points at 8419, Nasdaq ended up 51 points at 1449 while the S&P 500 index rose 33 points at 848.

Market Cues:

US markets rally 4%, Asian markets mixed

NSE multiplies lot sizes of 243 F&O stocks by 2-14X to bring contract sizes above Rs 2 lakh

SEBI's move on cross margining may lead to higher arbitrage volumes

FIIs net buy $38.1 million in equity on December 1: SEBI

MFs net sell Rs 75 crore in equity on December 1: SEBI

NSE F&O Open Interest up Rs 616 crore at Rs 39,540 crore

F&O Cues:

Futures Open Interest down Rs 217 crore, Options Open Int up Rs 833 crore

Nifty Futures shed 8 lakh shares in Open Interest, at 5-point discount

Nifty Open Int Put-Call ratio at 1.05 Vs 1.03

Nifty Puts add 16 lakh, Calls add 11.8 lakh shares in Open Int

Nifty 2500 Put adds 6.8 lakh shares in Open Int

Nifty 2600 Put adds 6.2 lakh shares in Open Int

Nifty 2600 Call adds 5.7 lakh shares in Open Int

Nifty 2700 Call adds 4.9 lakh shares in Open Int

Stock Futures add 1.8 crore shares in Open Int

Mkts close flat amid choppy trade; Realty, bank dip over 3%

2008-11-24T05:07:00.001-08:00

It was a lacklustre session for the markets, as it remained choppy throughout the day, after sharp rally seen in Friday's trade. The benchmark indices closed flat. The Nifty has tried number of times to get back above 2700 mark and in the final trade, it managed to close above the same level. Global cues were mixed, as Asian markets ended weak while European indices were trading sharply higher. US markets futures were also trading in green.

The Sensex shed just 12.09 points or 0.14%, to close at 8,903.12, after swinging between an intraday high of 9,042.02 and low of 8,701.93. However, the 50-share NSE Nifty shut shop at 2708.25, up 0.55% or 14.80 points over previous close.

The BSE Midcap Index was down 14.37 points or 0.49% at 2,902.29 and the Small Cap Index fell 26.80 points or 0.79% to 3,363.96.

Among the frontliners, Satyam, ICICI Bank, DLF, M&M, SBI, Unitech, Suzlon Energy and Tata Communication were down 3-9%. However, Reliance Infrastructure, Maruti Suzuki, Tata Power, TCS, Bharti Airtel, Reliance Power, GAIL, NALCO, Idea Cellular and HCL Tech rose 2.5-6%.

Market breadth was weak; about 1,136 shares have advanced while 1,490 shares have declined. Nearly 570 shares are unchanged.

Rate sensitives remained under pressure in today's trade. Bank and Realty indices closed lower by 3%.

BSE Realty Index was down by 62.12 points or 3.78% at 1,583.30. Unitech plunged 9.11% and DLF fell 3.81%.

Bankex fell 144.22 points or 3.14% to 4,454.68. ICICI Bank, Axis Bank, SBI, HDFC Bank and PNB lost 2.7-3.9%.

Metal stocks like JSW Steel, Jindal Saw, Tata Steel, Sterlite Industries, JSL, SAIL and Hindalco were losers. BSE Metal Index lost 67.87 points or 1.55% to 4,309.73.

Capital Goods Index ended flat at 6,554.72. BHEL gained 1.56% while L&T lost 0.20%.

However, power stocks like Power Index gained 30.80 points or 1.94% at 1,619.44. Reliance Power, Reliance Infrastructure, Tata Power, Power Grid Corp, Torrent Power and NTPC rose 2-6%. However, Suzlon Energy was down 5.63%.

BSE Oil & Gas Index was up by 75.78 points or 1.37% at 5,626.67. Reliance Industries was up 1.56% while ONGC fell 1.61%. Oil marketing companies like IOC, HPCL and BPCL gained 3-7%. Crude was trading at around USD 50 to a barrel on the NYMEX.

FMCG Index rose 20.66 points or 1.09% to 1,908.41. United Spirits, Marico, Britannia, Godrej Consumer and ITC were gainers.

Telecom stocks like Idea Cellular was up 4.19% and Bharti Airtel gained 2.73%. However, Tata Communication lost 3.91% and Reliance Communication fell 0.63%.

Pharma stocks like Healthcare Index went up by 17.40 points or 0.62% to 2,830.10. Dr Reddys Labs, Wockhardt, Cipla and Glenmark ended in green.

Auto Index gained 9.23 points or 0.40% at 2,314.35. Maruti Suzuki and Hero Honda were up over 3%. However, M&M fell 3%.

IT Index ended at 2,462.95, up 0.22% or 5.40 points over previous close. HCL Tech, TCS, Wipro and Infosys were gainers while Tech Mahindra and Satyam were losers.

Among the midcap stocks, Bhushan, Sadbhav Engg, Redington, Adhunik Metalik and Bombay Rayon lost 9-13%.

In the small cap space, Mukta Arts, PVP Ventures, Electrotherm, Nahar Industrial and Arihant Foundation plunged 12-16.5%.

Total traded turnoved stood at 57,920.55 crore. This includes Rs 8,500 crore from NSE Cash segment, Rs 46,218.94 crore NSE F&O and the balance Rs 3,201.61 crore from BSE Cash segment.

On the global front, Asian markets finished weak. Shanghai lost 3.67% and Kospi fell 3.35%. Straits Times went down 2.52% and Hang Seng fell 1.59%. Jakarta and Taiwan closed marginally in red. Japan's Nikkei was shut today.

However, European markets were trading sharply higher, as Citigroup received rescue package. FTSE 100 was up 175.61 points or 4.64% to 3,956.57, at 3:42 hours IST. CAC 40 gained 140.69 points or 4.88% at 3,021.95 and DAX surged 163.32 points or 3.96% to 4,290.73.

Dow Jones Futures was up 79 points at 8,115 and the Nasdaq Futures gained 14.25 points at 1,105, at 3:42 hours IST.

Citigroup received USD 20 billion cash and USD 306 billion loan guarantee from US government.

StanChart planned to raise USD 2.7 billion via rights issue. Its rights issue price fixed at 390 pence per share, 48.7% discount to last closing price.

President-elect Barrack Obama is expected to announce his economic team. US existing home sales will be announced as well.

Obama selects Geithner as treasury head; Dow up 494 pts

2008-11-23T20:29:00.000-08:00

US markets surged in late trade. The S&P 500 index rebounded from an 11-year low, Dow back above the 8,000 mark after President elect Barack Obama has picked Timothy Geithner head of the Federal Reserve Bank of New York, for the post of treasury secretary. Geithner had lead the US response to the deepest financial crisis in seven decades.

Crude prices rose for the first time in six days as OPEC members cut production and governments step up efforts to revive economic growth. It rose 51 cents to settle at USD 49.93 a barrel on the NYMEX.

At closing bell, the Dow Jones ended up 494 points at 8046.42, Nasdaq ended up 68.2 points at 1384.35 while the S&P up 47.5 points at 800.

Mkts sets new 2008 lows; how should one trade now?

2008-11-20T06:27:00.000-08:00

The seventh-day losing streak continued on Dalal Street. The markets started gap down, and then spent the entire session in negative territory as dismal global cues wreaked havoc. A sharp slump in the US as well as in Asian and European markets, due to cut in US economic growth forecast of 2008-2010 by Fed and weak housing data, has weighed on our markets. The Sensex and the Nifty closed below October 27, 2008 closing values. The benchmark indices remained under pressure throughout the session, despite showing a bit of recovery in the last 15 minutes of trade due to short covering. The Nifty closed at 2,553 down 81 points, while the Sensex shut shop at 8,451 down 322 points.

Anand Tandon, Director Equities at Brics Securities believes that the current levels do not leave too much value on the downside. “It’s quite possible that the index may tend down but given the kind of fall that we have witnessed from the peak to now, the percentage to be gained from the further shorts here for the most part is not a huge lot.”

Tandon said markets are at a level where the downside to upside ratios are now too much in the favour of the bears. According to him, one should look at a situation where there will be a surge in the liquidity overall in the system. “We are already seeing that in the banking system, it hasn’t yet translated into the corporate loan figures because the banks are holding cash and not looking out to lend. But that said once the global presses start to roll and currency starts coming out, I find it difficult to imagine that we will have a situation where there is anything but surplus cash floating around. In that kind of a situation unless we assume that India will go into a position of Japan and there will be no demand growth you have to look at a rebound for most asset classes and that will have to include equities as well irrespective of what the corporate performance is like.”

He sees markets at a level higher than where it is right now over the next two-three months.

Where should assets be allocated?

According to Tandon, gilt is a good place to look at not necessarily from the point of view of hiding but one will continue to see move down on the interest rates and from that point of view gilt funds should do reasonably well. “At some stage equities will have to start moving up again as well as commodities because I am now working on a scenario where you are now expecting to see all global countries printing a lot of currency backed by nothing more than thin hair promises and consequently hard assets have to come back into favour. The only scenario which, negate this kind of analysis would be a situation where there is absolutely no demand revival which at least for a country like India seems little farfetched. So, my most preferred scenario would be a revival of hard asset prices and therefore an easing of liquidity in a significant way.”

How should one trade this market?

Rajat Bose, rajatkbose.com said, “If I had a short position on the Nifty, I would actually try and cover that short position because I do not want to keep that short position running, since in my understanding this downswing is on the last leg. I was projecting 2,700 earlier and then again I projected about 2,500. Now what I think is that 2,488 to about 2,477 is a major support area and we would see a bounce back from there.”

He advises to sell puts, book profits and get out because there would be some more downside left. “I would not like to keep positions running at this stage, even though the international cues are still negative. My view is that there would be a time very soon, when we would be actually trading on the long side because contrary to the received wisdom, my feeling is that we would be positively surprised by the market in December and there would be a good rally."

Sectoral watch:

Tandon said sectors which have the best order books are the ones that are most likely to disappoint because expectations even now run high that these order books will fructify and lead to a bottomline increases. “Banking sector is where the market is already factoring in reasonable amount of NPA (Non Performing Asset) increase but that could surprise on the downside because I do not know how much the actual NPA be as and when they turn out.”

He believes that commodities are probably nearing the bottom. “I am working on a scenario where my main preferred thesis is that there will be a huge surge in liquidity and therefore there will be an increase in the value of all hard assets including commodities all over again. It need not happen in a hurry but the next big leg has to be on the upside and therefore I would be betting actually on increase in prices for metals as well as for oil.”

Are markets close to the end of bear market globally?

Tandon said markets are not nearing end of a bear market globally as far as equity market go but you cannot have trillions of dollars being printed without something changing; you cannot have a situation where all asset prices are falling and yet more and more money gets printed even as it gets lost in the real estate bubble and the CDO (Collateralized Debt Obligations) bubbles that are there in the US eventually we will get to a stage where more money will be getting printed than its required to absorb this and this will have to drive up asset prices. “The doomsday scenario that can negate this is that the governments go burst before that. The regulatory balance will be so strong that you will be able to rectify most of the financial market eventually. But, in the interim the flow of money will drive up hard asset prices.”

Where are the markets headed?

Tandon feels market can continue to trend down because this quarter will be easily one of the worst quarters for corporate earnings and we will see that again for the next quarter as well. “It is quite possible that the sentiment will remain sour except that macros have improved significantly over the last few months, commodity prices are down, interest rates are down, liquidity is better and most importantly there is a global attempt to rig the markets up. So something has to give, we cannot have a situation where it continues to slide down one way.”

Tandon said markets already had very long run of down slides so at this point, the percentage to be gained by shorting is not necessarily a huger lot and it is not in your favour to go and take fresh shorts.

Disclosure:

Anand Tandon: It is safe to assume that my clients & I may have an investment interest in the stocks/sectors discussed.

Rajat Bose: It is safe to assume that my clients & I may have an investment interest in the stocks/sectors discussed.

Source : CNBC-TV18

Mkts continue six day losing streak; Nifty ends below 2650

2008-11-19T03:30:00.000-08:00

The markets wiped out earlier gains in the last hour of trade and ended on a weak note. Dismal cues from European markets and sliding US futures can be attributed as reasons for today's fall. The markets have closed weak for the sixth day in a row. However, at the start of trade, it looked like the markets would reverse this trend and hold on to their psychological levels, but that did not happen. The Nifty closed below 2,650 level while the Sensex settled below 8,800.

Selling pressure was seen in capital goods, power, banking, oil, metal, telecom and technology stocks. Midcap and small cap stocks also followed the same trend, due to which breadth remained weak.

Short covering rally was shortlived as stoplosses got triggered in late trade. Flows continue to be negative at FII desk, as there was a basket selling from leading FIIs in late trade. Reliance Industries witnessed profit booking in last half an hour of trade, after buying support by long only funds in early trade. Experts believe that the Nifty broke crucial 2650 level, so it may trigger stoplosses further.

Leading contributors to this fall were L&T, ICICI Bank, HDFC, HDFC Bank, SBI, Reliance Communication, Bharti Airtel, ONGC, BHEL, Satyam and Reliance Industries.

The Sensex shed 163.42 points or 1.83%, to close at 8,773.78, after hitting an intraday high of 9,236.27 and low of 8,726.80. The 50-shares NSE Nifty touched a high/low of 2772.40 and 2617.90, before finishing the session at 2635, down 1.79% or 48.15 points over previous close.

Daryl Guppy, Founder and Director of guppytraders.com expects the markets to retest the October lows in a week or a fortnight. He sees support for Nifty at 2400 and said that the 2900 would serve as a resistance for the Nifty.

Jeff Chowdhry, Head of Emerging Equities at F&C Investments, expects markets to retest October lows before year-end and volatility to continue for the next couple of weeks. "Long-only and Hedge Funds are sitting on cash and redemptions will ease. There are high chances of rally in late December as redemption pressure would be over."

BSE Midcap Index lost 61.93 points or 2.02% to 2,998.39 and Small Cap Index fell 65.54 points or 1.84% to 3,493.12.

Total traded turnover stood at Rs 54,488.05 crore in today's trade. This includes Rs 9,285.71 crore from NSE Cash segment, Rs 41,656.37 crore from NSE F&O and the balance Rs 3,545.97 crore from BSE Cash segment.

The BSE Capital Goods Index underperformed other indices, tumbled 229.74 points or 3.47%, to settle at 6,396.76. Punj Lloyd, L&T and BHEL fell 2.8-4.6%.

Banking stocks were the real draggers in today's trade. ICICI Bank, HDFC Bank and SBI tumbled 2.6-3.6%. BSE Bankex plummeted 135.53 points or 2.86% to 4,596.95.

Power Index fell 42.06 points or 2.68%, to close at 1,529.92. GMR Infrastructure, Suzlon Energy, Reliance Infrastructure, Torrent Power and NTPC fell 2.3-9.4%.

Telecom stocks like Tata Communication, Reliance Communication, Idea Cellular and Bharti Airtel slipped 1.8-6.6%.

Metal stocks like Hindalco, NALCO, JSL, SAIL and Tata Steel lost 1.7-5%. Metal Index was down by 80.14 points or 1.77% to 4,436.14.

IT Index closed with a loss of 37.12 points or 1.52% to 2,410.64. Tech Mahindra, Satyam, Wipro, Infosys and TCS were losers.

Oil & Gas Index fell 64.54 points or 1.16%, to settle at 5,507.48. ONGC lost 2.28% and Reliance Industries fell 0.66%. Oil marketing companies like HPCL, IOC and BPCL slipped 0.7-0.9%.

Pharma stocks like Sun Pharma, Ipca Labs, Wockhardt, Aurobindo Pharma and Cipla fell 2.5-4.65%. Healthcare Index was down by 26.79 points or 0.95% at 2,804.81. However, Ranbaxy Labs was among the gainers.

Realty Index shed 7.93 points or 0.43%, to close at 1,830.94. Puravankara Projects and Unitech lost 1.1-2.2. However, DLF gained marginally.

However, FMCG Index was up by 27.94 points or 1.52% to 1,866.02. Nestle, United Spirits, ITC and Marico rose 2-3%.

Auto Index gained 13.74 points or 0.59% at 2,350.24. Hero Honda jumped 3.69%. M&M and Maruti Suzuki were up 0.7-1%.

Market breadth was extremely weak; about 858 shares have advanced while 1881 shares have declined. Nearly 454 shares remained unchanged.

On the global front, European markets were trading weak. FTSE was down 77 points to 4,134. CAC and DAX fell 52 points and 62 points to 3,165 and 4,517, respectively.

US futures were also witnessing selling pressure. The Dow Jones Futures was down 119 points to 8,375 and the Nasdaq Futures went down 21 points to 1,153, at 3:43 hrs IST.

Asian markets ended lower barring Shanghai. Hang Seng lost 0.77% and Nikkei fell 0.66%. Taiwan and Jakarta tumbled 0.49% and 0.80%, respectively. Straits Times and Kospi fell 1.59% and 1.87%. However, Shanghai Composite gained 6.05%

US mkts end lower; Nasdaq down 5%

2008-11-14T21:15:00.000-08:00

US markets end lower. An effort to rally in late trade could not be sustained as selling pressure intensified to rapidly send the stock market back to session lows. The Dow plunged 337.93 points, or 3.82%, to 8,497.31. The Nasdaq tumbled 79.85 points, or 5%, to 1,516.85 and the Standard & Poor's 500 index down 38 points, or 4.17%, to 873.29.

Decrease in retail sales and weaker demand for mobile phones capped second straight weekly loss for US markets, which raised concern about the depth of the recession.

Sears Holdings Home Depot and Office Depot sank more than 7.6% as retailer sales declined 2.8% last month. Qualcomm, the biggest maker of mobile phone chips, slid 5.4% and Motorola dropped 11% after Nokia OYJ predicted global shipments will shrink next year.

The S&P 500 index erased about two-thirds of yesterday's 6.9% rally and extended its weekly loss to 6.2%.

Asian markets end lower

2008-11-13T04:32:00.000-08:00

Asian markets ended lower. Hong Kong's Hang Seng fell 5.15% or 717.74 points at 13,221.35.

Japan's Nikkei plunged 5.25% or 456.87 points at 8,238.64.

Singapore's Straits Times declined 1.6% or 28.54 points at 1,755.47.

South Korea's Seoul Composite lost 3.15% or 35.42 points at 1,088.44.

Taiwan's Taiwan Weighted slipped 3.85% or 177.74 points at 4,437.83.

However, China's Shanghai Composite rose 3.68% or 68.5 points at 1,927.61.

Inflation reaches single-digit, touches 8.98%

2008-11-13T00:48:00.000-08:00

Inflation for the week-ended November 1 has reached single-digit and come in at 8.98% compared with 10.72% the week earlier.

So what do experts make of this number?

Yes Bank feels week-ended November 1 inflation below 10% has come in sooner than expected. It feels the time is ripe for RBI to further cut rates. "We see a 50 bps repo rate and 25-50 bps reverse repo rate cut in the near-term. We expect RBI to infuse more liquidity."

ICICI Securities sees inflation at 4.5% by March. It expects inflation to continue its downturn trend.

Nifty ends below 2950; Realty dips 10%, Power down 8%

2008-11-11T02:43:00.000-08:00

Benchmark indices snapped two days rally and witnessed sharp cut. Both indices washed out Monday's gain on account of huge profit booking in realty, metal, capital goods, oil, banking and power stocks. The Nifty closed below 2950 level and the Sensex settled below 9900 level. Midcap and small cap stocks followed the same trend. Weak global cues also fueled to negative sentiment.

Heavyweights like Reliance Industries, ONGC, Bharti Airtel, NTPC, BHEL, DLF, SBI, Infosys, ICICI Bank, L&T, SAIL, HDFC and HDFC Bank were leading contributors in today's fall.

The Sensex plunged 696.47 points or 6.61% to 9,839.69, after hitting an intraday low of 9,799.45. The 50-share NSE Nifty touched a low of 2919.45, before closing the day with a loss of 209.6 points or 6.665 at 2938.65. All BSE sectoral indices closed in red.

BSE Midcap Index fell 118.39 points or 3.41%, to settle at 3,356.70 and Small Cap Index lost 100.02 points or 2.51%, to close at 3,888.01.

Volumes got improved in today's session. Total traded turnover stood at Rs 52,927.06 crore. This includes Rs 8,816.35 crore from NSE cash segment, Rs 40,386.80 crore from NSE F&O and the balance Rs 3,723.91 crore from BSE cash segment.

Market breadth was extremely weak; declines outnumbered advances. About 971 shares have advanced while 2015 shares have declined. Nearly 206 shares remained unchanged.

Nifty slips below 3100; RIL, Bharti, BHEL, Infy, ONGC drag

2008-11-10T21:18:00.001-08:00

The markets have drifted down further, as profit booking continues in metal, capital goods, realty, oil, power and banking stocks — the same stocks that led Monday's rally. The Nifty has now slipped below the 3,100 mark.

The Sensex tumbled 310 points to 10,225 and the Nifty lost 81 points to 3,067 at 10:16 am. The BSE Midcap fell 0.9% and Small Cap lost 0.5%.

Market breadth is negative; about 1411 shares have advanced while 1558 shares have declined. Nearly 223 shares are unchanged.

Reliance Industries, Bharti Airtel, BHEL, Infosys, ONGC, NTPC, ICICI Bank, DFL, Cairn India, HDFC Bank, ICICI Bank, Sterlite Industries, Tata Steel, L&T, SBI, SAIL and HDFC are putting pressure on the markets.

Markets @ 9:56 am : Markets retreat; metal, oil, realty stocks dip

The markets retreated on the back of profit booking, snapping two days of gains. Selling is seen in realty, oil, metal, and select capital goods and banking stocks. Global cues are slightly negative today.

At 9:56 am, the Sensex went down 168 points to 10,367 and the Nifty fell 41 points to 3,106. CNX Midcap 100 lost 25 points to3,835.

ICICI Bank, Hindalco, DLF, Cairn India, Reliance Industries, Sterlite Industries, Reliance Petroleum, Unitech, Suzlon Energy, Tata Steel, BHEL, Infosys and ONGC are under pressure. However, BPCL, ITC and Sun Pharma are gainers.

However, sugar stocks like Bajaj Hindustan and Balrampur Chini are up 1.5-2.5%.

Asian markets are mixed, after recovering from lows of the day. Shanghai, Hang Seng and Kospi gained over 0.35% each. However, Straits Times and Taiwan fell around 1%. Nikkei and Jakarta lost marginally.

Crude December Futures made a low at $59.10 to a barrel on the NYMEX. Currently, it is hovering around USD 61/bbl, due to weak demand. IMF warned of simultaneous recession in Japan, Europe and US.

US markets dropped as a worsening outlook for companies from Goldman Sachs to Google overshadowed China's $ 586 billion stimulus plan and pledges by the world's biggest nations to bolster economic growth. The Dow plunged 73.27 points, or 0.82%, to 8,870.54. The S&P 500 index declined 11.78 points, or 1.27%, to 919.21, and the Nasdaq composite index dropped 30.66 points, or 1.86%, to 1,616.74.

Market cues:

SEBI puts all fresh FMP offer documents that allow exit option on hold

SEBI to relook at FMP norms

SEBI doubles bank borrowing limit for MFs, to be only used for redemption & repurchase

FIIs net buy USD 15 million in equity

MFs net sell Rs 81.7 crore in equity

NSE F&O Open Int up by Rs 2,971 crore at Rs 51,657 crore

F&O cues:

Stock Futures add 2 crore shares in Open Interest

Futures Open Interest up by Rs 2,042 crore and Options Open Interest up by Rs 929 crore

Nifty Futures add 13.6 lakh shares in Open Interest, at 12-pt premium

Nifty Open Interest Put-Call ratio at 1.23 versus 1.15

Nifty Puts add 27 lakh shares in Open Interest

Nifty Calls Open Interest unchanged

Nifty 3000 Put adds 9.2 lakh shares in Open Interest

Nifty 2900 Put adds 4.8 lakh shares in Open Interest

Nifty 2800 Put adds 4.6 lakh shares in Open Interest

Nifty 3200 Call adds 2.1 lakh shares in Open Interest

Positive global cues boost mkts; Metals shine, Power gains

2008-11-10T02:53:00.001-08:00

It was a spectacular session for the markets. Positive global cues led by announcement of China's USD 586 billion economic stimulus package, helped benchmark indices to remain strong. However, volumes have been quite tepid at around Rs 44,000 crore. Metal sector was the leader in today's rally followed by power, capital goods, telecom, oil & gas and technology sectors. Midcap and small cap stocks were also in the limelight.

The Sensex rose 571.87 points or 5.74%, to close at 10,536.16, after hitting an intraday high of 10,570.58. The 50-share Nifty Fifty gained 175.25 points or 5.89%, to settle at 3148.25. It has hit a high of 3161.25.

BSE Midcap Index was up by 119.71 points 3.57% to 3,475.09 and Small Cap Index jumped 87.93 points or 2.25% to 3,988.03.

Volumes were very low; total traded turnover stood at Rs 43,245.80 crore. This includes Rs 30,290.49 crore from NSE F&O segment, Rs 9,261.71 crore from NSE cash and the balance Rs 3,693.60 crore from BSE Cash segment.

Major Asian markets posted strong rally, as China announced USD 586 million package and Taiwan cut rate. Shanghai closed higher by 7.27% and Nikkei jumped 5.81%. Hang Seng rose 3.52%. Straits Times and Kospi were up 1-1.6%. Jakarta and Taiwan ended flat.

After announcement of China's economic stimulus package, base metal prices surged and Japanese Yen fell. Copper Futures jumped 8%, Nickel up 11%, Lead & Zinc gained 5% and aluminum was up 4%. BHP Billiton, Arcelor-Mittal and ABB jumped over 8% in the European markets.

European markets were trading higher. FTSE, CAC and DAX rose at around 3.5% each. Dow Jones and Nasdaq Futures were up 164 points and 25.50 points respectively, at 3:48 pm.

Sensex above 10500; Metal up 10%, CG, O&G, Power up 6-8%

2008-11-10T01:58:00.000-08:00

Huge buying in metal, power, capital goods, and oil stocks is propeling the markets northbound. The Nifty is trading above 3,100 while the Sensex is trying to sustain above 10,500. Upsurge in European markets is another positive factor which helping the markets a lot. Buying is also seen in realty, banking, telecom, and technology stocks. Sterlite, Tata Steel, and Hindalco are up 11-14%.

The Sensex jumped 579 points to 10,543 and the Nifty rose 176 points to 3149, at 3:12 pm. BSE Midcap gained 3% and Small Cap Index rose nearly 2%.

Among the frontliners, Sterlite Industries, Tata Steel and Hindalco went up 12-14.5%. Reliance Infrastructure, Jaiprakash Associates, ONGC, BHEL, ICICI Bank, NALCO, Unitech, Siemens and ABB gained 7.5-10.5%. However, ITC, Maruti Suzuki, Suzlon Energy and BPCL are top losers.

Market breadth is positive; about 1886 shares have advanced while 1103 shares have declined. Nearly 203 shares are unchanged.

BSE Metal Index gained over 10.5%. Power, Capital Goods, Oil & Gas, Bankex, TECK and Realty indices rose 4-8%.

On the global front, Dow Jones Futures rose 164 points and Nasdaq Futures gained 19.50 points.

European markets are trading strong. FTSE, DAX and CAC surged 3-4%.

On the global front, Asian markets closed strong due to China's USD 586 billion economic stimulus package. Shanghai went up 7.27%. Nikkei rose 5.81%. Hang Seng jumped 3.52%. Straits Times and Kospi rose 1-1.5%. However, Jakarta and Taiwan fell marginally.

Nifty surges above 3000; metal, power, oil stocks gain

2008-11-09T20:54:00.000-08:00

The markets went up higher in early trade, following positive global cues and have continued their upsurge further. Asian markets surged too following China's USD 586 billion economic stimulus package. Yen depreciated to 99.1/$, which was a factor for the Nikkei gaining 5%. SGX Nifty is also suggesting that markets would trade in positive terrain.

Metal, realty, oil, capital goods, power and telecom stocks are on buyers' radar.

At 9:56 am, the Sensex rose 176 points to 10,141 and the Nifty gained 52 points at 3,024. CNX Midcap 100 surged 1.36% to 3,770.

Ambuja Cements, Unitech, Reliance Industries, Idea, Sterlite, Cairn India, Suzlon Energy, ICICI Bank, SAIL, Tata Steel, Hindalco, Nalco, Satyam Computer, BHEL, ABB, DLF, ONGC, Bharti Airtel and Ranbaxy Labs are gainers.

Asian markets are trading higher. Shanghai and Nikkei jumped nearly 5%. Hang Seng rose 2.7%. Kospi and Jakarta went up around 1%. However, Taiwan and Straits Times fell marginally.

The US markets bounced back on Friday, after a two-day slump despite another round of weak economic and earnings data on speculation that the Federal Reserve will lower interest rates, after traders shrugged off a bigger than expected loss in jobs. The Dow gained 248.02 points, or 2.85%, to 8,943.81. The S&P 500 index advanced 26.11 points, or 2.89%, to 930.99, and the Nasdaq composite index added 38.70 pints, or 2.41%, to 1,647.40.

Market cues:

FIIs net sell Rs 414 crore in the cash market

MFs net sell Rs 120.5 crore in the cash market

NSE F&O Open Int up by Rs 3,282 crore at Rs 48,686 crore

F&O cues:

Stock Futures add 3.5 crore shares in Open Int

Futures Open Int up by Rs 1,690 crore, Options Open Int up by Rs 1,592 crore

Nifty Futures add 13.6 lakh shares in Open Int, at 13-pt premium

Nifty Open Int Put-Call ratio at 1.15 versus 1.14

Nifty Puts add 29 lakh, Calls add 22.2 lakh shares in Open Int

Nifty 2500 Put adds 11 lakh shares in Open Int

Nifty 3400 Call adds 7.4 lakh shares in Open Int

Nifty 3000 Call adds 4.4 lakh shares in Open Int

Mkts end in red on higher inflation nos, weak global cues

2008-11-06T03:59:00.000-08:00

Markets ended in red after an unexpected increase in inflation numbers and sell-off in global indices. The Nifty closed below the 3,000 mark and the Sensex slipped below the 10,000 level. Metal stocks led the crash followed by oil, telecom, technology, banking and auto stocks. Midcap and small cap stocks were also under pressure.

Reliance Industries, Bharti Airtel, Infosys, SBI, HDFC, ICICI Bank, Tata Steel, HDFC Bank, Sterlite Industries, Reliance Communication and Tata Motors were real culprits.

Frontline indices had opened with huge gap down following profit booking in global indices and remained weak till the afternoon. After 1:30 pm, indices had started recovery and was near to Wednesday's close, but more than expected increase in Inflation numbers and further dip in European indices pushed the markets sharply lower again.

The Sensex closed with a loss of 385.79 points or 3.81% at 9,734.22, after hitting an intraday low of 9,635.22 (down 484.79 points from previous close). The Nifty ended at 2892.65, a drop of 102.3 points or 3.42% over previous close. It has touched a low of 2860.25, (down 134.7 points).

Inflation came in at 10.72% for the week ended October 25 as against 10.68% in previous week. This was more than expectations, as CNBC-TV18 was estimating inflation at 10.45%.

“People expected the inflation figure to be much lower,” said Mehraboon Irani, VP, PMS, Centrum Broking. “While it’s a disappointment, I think it’s an aberration.” Irani said that inflation numbers may be headed to single digits by December. “It is a disappointment definitely but the trend is downwards,” he added.

However, Irani said the immediate, subsequent fall in the markets could not necessarily be attributed to inflation news. “I don't think I would link the inflation figure to that — there could be an adjustment here and there — but I personally feel it [the markets’ fall] is either creation of new positions or squaring off of old positions.”

Metal stocks took huge beating on the bourses; Tata Steel plunged 13.67%. JSW Steel, Hindalco and SAIL fell 6.7-10.8%. BSE Metal Index lost 458.30 points or 8.4% to 4,993.44.

Sterlite Industries fell 11.33%, as Vedanta's first half yearly attributable profit was down by 24.7% to USD 350 million. Vedanta, which is not listed on the indices bourses, slipped over 10%. It has reviewed capex program and can cut investments by USD 5.1 billion. The company may temporarily cut down production at some operations. It will reduce capex by USD 1.5 billion for expansion of Alumina, Aluminium Projects. The company will defer investment of USD 2 billion in the 1980 MW Jharsuguda Power Project.

Reliance Industries has extended losses further, declined 7.71%, after losing 12.5% on Wednesday. Essar Oil and ONGC fell 1.43-3.9%. Oil & Gas Index plummeted 295.17 points or 4.83% to 5,816.94.

Telecom stocks like Bharti Airtel, Idea Cellular and Reliance Communication fell 4.6-6.2%.

BSE IT Index was down by 116.55 points or 4.26% at 2,617.80. Wipro, Infosys, Satyam and TCS lost 1-6.3%.

Bankex lost 192.18 points or 3.41% to 5,441.76. SBI, PNB, ICICI Bank and HDFC Bank plunged 3-4.6%.

Auto stocks took huge beating; Auto Index fell 79.60 points or 2.92% to 2,648.22. Tata Motors crashed 12.17%. Hero Honda, Bharat Forge and Maruti Suzuki fell 2.6-3%.

Ashok Leyland closed down over 9% at Rs 17.45 due to weak sales numbers. The company's October total sales declined to 3397 units versus 6825 units (YoY).

Vinod Dasari, COO, Ashok Leyland, said the company is looking for a production cut and will finalise on the same in the next few days. The liquidity crisis resulted in down turn in sales, he said. The company sees 15-25% decline in the commercial vehicle industry, he said. He does not see margin erosion in Q3FY09.

Power Index lost 34.69 points or 2% to 1,702.23. Reliance Power, Torrent Power, Tata Power, Power Grid Corp, Reliance Infrastructure and NTPC fell 2.3-4.6%.

Capital Goods Index was down by 77.50 points or 1.02% at 7,514.14. Siemens lost 4.80%. L&T lost 0.51%.

FMCG Index closed down by just 1.62 points at 1,925.91. United Spirits, Tata Tea, GlaxoSmith Consumer, Nestle and Dabur India dropped 1.5-8.3%.

BSE Midcap Index lost 76.20 points or 2.24% to 3,318.41 and Small Cap Index fell 84.51 points or 2.13% to 3,880.27.

In the midcap space, UTV Software lost 30%. Aurobindo Pharma, Patel Engg, Consolidated Construction and Nagarjuna Construction fell 9.5-14.6%.

Among the small cap stocks, Uflex, Balkrishna Inds, Arshiya Intl, ETC Networks and Stride Arcolab plunged 11-17%.

However, Realty Index gained just 13.68 points or 0.60% at 2,280.68. Indiabulls Real, DLF and Puravankara Projects gained 1.8-3%.

Healthcare Index rose 8.13 points or 0.28% to 2,921.35. Ranbaxy Labs, Sun Pharma, Apollo Hospital, Glenmark and Dr Reddys Labs rose 1-3.7%.

On the global front, European markets were trading sharply lower. FTSE, CAC and DAX lost 4-4.5%, at 4 hrs IST.

The Dow Jones Futures fell 1.5% and the Nasdaq Futures was down 3%%, at 4 hrs IST. There are rumours of another economic stimulus package in the US by Christmas.

Asian markets ended in negative terrain on disappointing results and negative outlook. Hang Seng lost 7.08% and Kospi fell 7.56%. Nikkei and Taiwan tumbled 6.53% and 5.71%, respectively. Shanghai, Jakarta and Straits Times fell 2.44-4.27%

Mkts under pressure; Tata Motors, Tata Steel, Sterlite lag

2008-11-05T22:41:00.000-08:00

The markets are still witnessing selling pressure on weak global cues along with some bouts of volatility at lower levels. The Nifty is struggling at around 2,900 levels. Reliance Industries, Bharti Airtel, SBI, NTPC, SAIL, HDFC, ICICI Bank, BHEL, Infosys, L&T, Tata Steel, and HDFC Bank are taking a heavy beating on the bourses.

The Sensex declined 266 points to 9,853 and the Nifty lost 71 points to 2,923, at 11:35 am. BSE Midcap and Small cap indices fell over 2% each.

Daryl Guppy, Founder and Director, guppytraders.com, said the relief rally that took place in global markets has stalled and that markets may retest lows. The Sensex may retest levels of 7,500-8,500, and if it goes below that, it may test 6,000, Guppy said, adding that the Nifty could test 2,500, but major support exists only at 2,200.

Tata Steel, Tata Motors, Sterlite Industries, Hindalco, Reliance Industries, Tata Power, SBI, SAIL, Idea Cellular and BPCL plunged 5-10.5%.

However, ONGC, HUL, TCS, GAIL, Sun Pharma, Ranbaxy Labs and Unitech are gainers on the bourses.

Market breadth is in favour of declines; about 991 shares have advanced while 1953 shares have declined. Nearly 247 shares are unchanged.

Among the CNX Midcap stocks, Hotel Leela Jindal Saw, United Phos, Aurobindo Pharma and Anant Raj Inds fell 7-11%.

In the Nifty Junior, JSW Steel, IDFC, United Spirits, IDBI Bank, Bank of India, Jindal Steel and Reliance Capital tumbled 5-11.7%.

The markets are still trading sharply lower, despite showing some recovery from the day's lows. Weak global cues and a 400 points dip in the Dow on poor economic numbers is cited as reason for the gap down. Asian markets are also trading in the red. The Nifty has clawed back above the 2,900 mark. Selling is seen in metal, power, auto, capital goods, banking, and select oil stocks. Midcap and smallcap stocks are also under pressure.

The Sensex lost 234 points to 9885 and the Nifty plunged 61 points to 2,933, at 10:42 am. BSE Midcap and Small Cap indices fell over 2% each.

Market breadth is negative; about 962 shares have advanced while 1990 shares have declined. Nearly 239 shares are unchanged.

Tata Steel, Tata Motors, Tata Power and Sterlite Industries are top losers. However, Ranbaxy Labs, HUL, TCS, GAIL and Suzlon Energy are gainers.

Among the midcap stocks, UTV Software fell over 27%. Simplex Infra, Lakshmi Energy, Panacea Biotech and Aurobindo Pharma lost 8-9.5%.

In the small cap space, Sanwaria Agro, ETC Networks, Bajaj Electrical, Stride Arcolab, PVP Ventures and NRB Bearings plunged 12-15%.

Nifty opens below 2900; ICICI Bank, Unitech, Bharti lag

2008-11-05T20:47:00.001-08:00

Benchmark indices tumbled in early trade following weak sentiment across the globe. US markets crashed due to disappointing economic data and Asian markets lost 2.5-6.8%. Selling is seen in metal, realty, power, banking and capital goods stocks.

At 9:56 am, the Sensex fell 356 points to 9,763 and the Nifty lost 99 points and is at 2,895. CNX Midcap lost 3% to 3,632.

Suzlon Energy, Unitech, ICICI Bank, Bharti Airtel, Tata Steel, SAIL, Tata Motors, DLF and L&T are top losers.

Asian markets are trading sharply lower. Nikkei, Hang Seng, Kospi and Taiwan plunged 5.6-6.7%. Shanghai, Jakarta and Straits Times fell 2.5-4%.

Crude December futures declined to trade around $65 to a barrel on the NYMEX. US supply figures were higher while demand figures lower. Gasoline inventories rose 1.12 million barrels to 196.1 million barrels and distillates were up 1.21 million barrels to 127.8 million barrels.

US fuel demand declined by 6.7% on year-on-year basis to 19.1 million barrels per day. US ISM non Manufacturing and unemploymnet data was worse than expected.

US markets posted its biggest plunge following a presidential election as reports on jobs and service industries stoked concern that the economy will worsen even as president-elect Barack Obama tries to stimulate growth. Financials took a major hit.

The Dow tumbled 486.01 points, or 5.05%, to 9,139.27. The S&P 500 index lost 52.98 points, or 5.27%, to 952.77. The Nasdaq composite index declined 98.48 points, or 5.53%, to 1,681.64.

Market cues:

Global markets plunge, led by near 500 points fall in Dow

Asian markets down nearly 5% in early trade

Inflation data today, market buzz of single-digit figure

NSE F&O Open Int down by Rs 539 crore at Rs 46,396 crore

F&O cues:

Stock Futures shed 4.4 crore shares in Open Int

Futures Open Int down by Rs 1,389 crore, Options Open Int up by Rs 850 crore

Nifty Futures add 4.3 lakh shares in Open Int, at 2-pt discount

Nifty Open Int Put-Call ratio at 1.10 versus1.14

Nifty Puts add 6.6 lakh, Calls add 16.2 lakh shares in Open Int

Nifty 3000 Put adds 2.1 lakh shares in Open Int

Nifty 3100 Put adds 1.8 lakh shares in Open Int

Nifty 3200 Call adds 7 lakh shares in Open Int

Nifty 3300 Call adds 3 lakh shares in Open Int

Asian markets tumble; Hang Seng slips 6%

2008-11-05T20:19:00.001-08:00

Asian markets were trading lower. China's Shanghai Composite fell 2.73% or 48.07 points at 1,712.54.

Hong Kong's Hang Seng slipped 5.95% or 882.48 points at 13,957.68.

Japan's Nikkei plunged 5.68% or 541.06 points at 8,980.18.

Singapore's Straits Times tumbled 4.69% or 87.65 points at 1,781.17.

South Korea's Seoul Composite lost 6.66% or 78.70 points at 1,102.80.

Taiwan's Taiwan Weighted declined 4.85% or 241.47 points at 4,736.79.

Dismal close for mkts; Sensex, Nifty down 5%, RIL dips 12%

2008-11-05T03:13:00.000-08:00

It was a crucial day for the markets on account of heavy sell off in heavyweights and weak global markets. The benchmark indices broken five days winning streak and tumbled nearly 5%. Huge beaten down sectors were oil, metal, realty, capital goods and telecom. Reliance Industries, HDFC, L&T, Bharti Airtel, Reliance Communication, SAIL and Tata Steel were real culprits for today's fall.

The Sensex has touched an intraday low of 10,051.52, before closing the day at 10,120.01, down 511.11 points or 4.81% over previous close. The Nifty closed below 3,000 mark. It plunged 147.15 points or 4.68%, to settle at 2994.95.

Arcelor-Mittal is going to cut production in US and Europe. It will reduce supplies to Asia and Africa due to lower steel prices.

European markets were trading sharply lower. FTSE, CAC and DAX plunged 2.5-3%, at 3:42 pm. Poor outlook projected by heavyweights led to profit booking and selloff.

The profit of France's largest bank, BNP Paribas has declined by 56% on account of bad loan provisioning in third quarter.

Carlsberg, largest brewer in the Nordic region, has cut annual earnings and sales forecast. It closed its UK plant along with job cuts.

Dow Jones Futures was down 1.5% and Nasdaq Futures fell 1.8%.

There are speculation that new US President, Barack Obama may double low cost loans sanctioned to US auto makers.

Asian markets ended higher barring Jakarta and Taiwan. Shanghai and Hang Seng jumped 3.16% each. Nikkei rose 4.46%. Straits Times and Kospi gained 2.14% and 2.44%, respectively. However, Taiwan and Jakarta lost 0.26-0.29%.

Mkts off day's high; TCS, ICICI Bank, Rel Infra top gainers

2008-11-04T21:18:00.000-08:00

The markets are trading off day's high, after giving up some early gain. Realty, banking, power and capital good stocks are on buyers' radar while selling pressure is seen in telecom, and select oil and metal stocks.

ONGC, ICICI Bank, DLF, NTPC, BHEL, Suzlon Energy, HDFC Bank, TCS, Sun Pharma, L&T, SBI, Wipro, HDFC, Maruti, Hero Honda, Unitech are supporting the markets while Reliance Industries, Reliance Communication, Idea Cellular, BPCL, Bharti Airtel, SAIL, GAIL and Reliance Petroleum are under pressure.

The Sensex went up 48 points to 10,679 and the Nifty gained 12 points at 3,154, at 10:39 am. BSE Midcap and Small Cap indices rose over 2%.

Market breadth is positive; about 1990 shares have advanced while 973 shares declined. Nearly 228 shares are unchanged.

Dipan Mehta, Member of BSE and NSE feels market sentiment has improved. He believes fear has gone out of the market and said this would be positive for all equities. Considering the velocity with which the market has moved up, he believes there is still some steam left.

Markets @ 9:57 am : Markets gain on strong global cues

The markets surged in early trade, following strong global cues, as Barack Obama is elected as the 44th US President. Benchmark indices continued its earlier rally. Buying is seen in banking, capital goods, realty, oil and metal stocks.

At 9:56 am, the Sensex rose 283 points to 10,914 and the Nifty gained 89 points at 3,231.

Suzlon, DLF, Cairn India, Siemens, Reliance Infrastructure, ONGC, Reliance Power, Tata Steel, HDFC, L&T, SBI, ICICI Bank, Bharti Airtel and Unitech are major gainers.

Asian markets are trading strong. Shanghai, Hang Seng, Nikkei, Straits Times, Kospi and Jakarta shot up 2.8-4.4%. Taiwan rose 0.6%.

Crude takes support from decline in USD, Strength in Equities
OPEC cuts from Nigeria, Algeria, UAE, S Arab support

US weekly oil invnetories may show gain in inventories, refining numbers
NEar term range $ 62 - 71 a barrel

Wall Street logs in solid gains as it breathes a gigantic sigh of relief that the presidential election and the uncertainty that comes with it is almost over. The Dow gained 305.45 points, or 3.28%, to 9,625.28. The S&P 500 index rose 39.45 points, or 4.08%, to 1,005.75. The Nasdaq composite index advanced 53.79 points, or 3.12%, to 1,780.12.

Market cues:

FIIs net buy USD 188.8 million in equity

NSE F&O Open Int up by Rs 3,253 crore at Rs 46,935 crore

Crude above $69/bbl after Saudi cuts supplies

F&O cues:

Futures Open Int up by Rs 1,881 crore, Options Open Int up by Rs 1,372 crore

Nifty Futures add 14 lakh shares in Open Int, at 20-pt premium

Nifty Open Int Put-Call ratio at 1.14 versus 1.05

Nifty Puts add 34 lakh, Calls add 8 lakh shares in Open Int

Nifty 2800 Put adds 8 lakh shares in Open Int

Nifty 2900 Put adds 6.5 lakh shares in Open Int

Nifty 3000 Put adds 6 lakh shares in Open Int

Nifty 3400 Call adds 4.4 lakh shares in Open Int

Stock Futures add 3.2 cr shares in Open Int

Rate sensitive, infra stks aid mkts; Nifty ends above 3100

2008-11-04T07:12:00.001-08:00

Finance Minister P Chidambaram's meeting today with the heads of PSU banks made Dalal Street happy. The benchmark indices witnessed buying interest in last one hour of trade, after trading choppy since morning. Global cues also turned positive for our markets in late trade. Bank and realty stocks led this rally followed by power, capital goods, FMCG and metal stocks.

The 50-share NSE Nifty crossed the 3,100 level and went up higher by 108.45 points to touch an intraday high of 3152.30. The 30-share BSE Sensex jumped over the 10,500 mark and hit an intraday high of 10,668.48, with a gain of 330.8 points.

The Sensex surged 293.44 points or 2.84%, to close at 10,631.12 and the Nifty settled at 3142.10, up 3.23% or 98.25 points over the previous close. BSE Midcap Index rose 90.68 points or 2.7% to 3,446.22 and Small Cap index was up by 108.01 points or 2.75% at 4,035.11.

In the derivative space, Nifty Futures continued to see long build up. It oscillated between 10 to 30 point premiums and ended at 32.90 points premium. Real Estate stocks were up with significant open interest build up. Fresh short build up was seen in IT stocks. Banking and Capital goods stocks continued to see log build up. Aggressive Put writing was seen in 2800 strike price.

Among the frontliners, DLF, Ranbaxy Labs, Jaiprakash Associates, Tata Power, Reliance Communication, ITC, ONGC, Suzlon Energy, Unitech, Reliance Power, Siemens and SAIL shot up 7-21%.

Finance Minister P Chidambaram said that liquidity has to be monitored on a continuous basis. The RBI is committed to provide adequate liquidity as required, he added.. FM had discussed agricultural credit, SME credit, liquidity enhancing measures, credit growth, capital adequacy with bankers. He also said that we was satisfied that action had been taken by RBI and banks.

He further said that adequate finance will be provided to housing & SME sector. Finance Minister is going to consider Rs 10,000 crore credit line to NHB. RBI will provide enough dollar liquidity to banks. FM aims to have CAR of 12% for all PSU banks.

Major PSU banks see interest rates softening after opening of liquidity tap by RBI last week. SA Bhatt, Chairman of Indian Overseas Bank said that rates on advances will be cut by 75 bps, and that of deposits by 50 bps. There is no pressure to cut rates by Finance Minister. Rate cuts won’t affect the margins much due to CRR cuts, he added.

SBI Chairman OP Bhatt said that he see interest rates softening. There is a consensus that lending & deposit rates can be cut. SBI may cut the lending rates by 25-50 bps. He said that SBI may cut the PLR by up to 50 bps in 1-2 days. However, the bank will decide on deposit rate cut in a couple of weeks.

Bank of Baroda said that it may cut the lending rates by 75 bps on Wednesday. Central Bank of India is going to cut lending rates up to 100 bps this week.

The BSE Bankex jumped 353.65 points or 6.56% to 5,741.04. Bank of Baroda, Kotak Mahindra, Bank of India and Union Bank rose 9-15.5%. IOB, Yes Bank, Oriental Bank, IDBI Bank, PNB, ICICI Bank, SBI, Axis Bank, Canara Bank and Andhra Bank surged 6-8%. HDFC Bank was up 3.73%.

Realty index surged 260.16 points or 12.14%, to settle at 2,402.44. DLF and Unitech jumped over 14.5%. Ansal Properties, Indiabulls Real and Omaxe rose 12-13.7%.

Power stocks charged up. Suzlon Energy shot up 20.57%. Reliance Power, CESC, GMR Infra and Tata Power were up 8-12.8%. Power Index was up by 95.39 points or 5.66%, to close at 1,781.38.

FMCG stocks like ITC, United Breweries, Dabur India, HUL and Godrej Consumer jumped 3-7.6%. BSE FMCG Index ended with a gain of 89.29 points or 4.77% at 1,961.19.

Capital Goods Index moved up by 350.35 points or 4.61% at 7,942.57. Siemens, Crompton Greaves, BHEL, Punj Lloyd, Bharat Electronics and L&T rose 3.44-11.8%.

Metal Index closed at 5,854.67, up 232.30 points or 4.13% over previous close. JSW Steel, SAIL, Jindal Saw, NALCO and Tata Steel were up 6.5-11%.

Buying was also seen in Oil & Gas stocks. Index rose 202.39 points or 3.09% to 6,749.51. ONGC shot up 7.12% and Reliance Industries rose 1.6%. Oil marketing companies like BPCL, IOC and HPCL surged 1.43-6.86%. Crude was hovering around USD 62-64 to a barrel on the NYMEX.

The BSE Auto Index was up 45.74 points or 1.67% to 2,791.56. Bharat Forge, M&M, Maruti Suzuki, Ashok Leyland, Hero Honda and Tata Motors were up 1.6-4.7%.

Healthcare Index went up higher by 21.34 points or 0.75% to 2,879.38. Biocon, Matrix Lab and Ranbaxy Labs rose 10-13.4%. Dishman Pharma and Cipla jumped over 4.5%. However, Sun Pharma Advanced and Sun Pharma lost 6% and 4.7%, respectively, as as US FDA issued warning letter to Detroit-based Caraco Pharma (subsidiary of Sun Pharma). USFDA had noted inefficiencies in quality control unit of Caraco.

Among the midcap stocks, Shree Renuka, Lakshmi Machine, Rajesh Exports, IVRCL Infrastructure and Praj Industries were up 14-18%.

In the small cap space, Hinduja Venture, Asian Electronics, Sujana Towers, Emkay Global and Tube Investment rose 18-20%.

However, technology stocks were under pressure. IT Index plunged 124.41 points or 4.33% to 2,749.95. Satyam, TCS, Wipro, Tech Mahindra, HCL Tech and Infosys fell 3.32-7.4%. The Indian Rupee has appreciated to 47.9 to a dollar versus previous close of 48.64/$.

Total traded turnover in today's session stood at Rs 49,570.10 crore. This includes Rs 11,391.32 crore from NSE Cash segment, Rs 33,758.52 crore from NSE F&O and the balance Rs 4,420.26 crore from BSE Cash segment.

Market breadth was positive; about 1979 shares have advanced while 994 shares have declined. Nearly 218 shares remained unchanged.

On the global front, European markets were trading higher. FTSE was up 1.01%. CAC and DAX were up over 1.5% each, at 3:51 hrs IST.

The Dow Jones Futures gained 149 points at 9,481 and the Nasdaq Futures went up 29 points to 1,370, at 3:51 hrs IST.

Asian markets ended mixed. Nikkei jumped 6.27% (it was shut on Monday). Kospi and Jakarta rose 2.15% and 1.26%, respectively. Hang Seng was up just 0.28%. However, Straits Times fell 2.87%. Shanghai lost 0.76% and Taiwan fell just 0.05%.

Market Snapshot

Market gains for the 4th consecutive day led by Interest Rate sensitive

Sensex closes up 293 points to close at 10631; Nifty closes up 98 points to close at 3142

CNX mid cap up 3%, Bse Small Cap up 2.7%

Bse Realty up 12.1%, Unitech up 15%, DLf up 14.4%, Indiabulls Real Estate up 12.4%

Bse Bankex up up 6.5%, BOB up 15.3%, Kotak up 14%, Bank o India up 11.6%, Union Bank up 9.5%, SBi up 6.4%

Bse Cap Goods up 4.7, Suzlon up 20.9%, Siemens up 12%, Praj up 14.1%,

Bse IT dn 4.4%, Satyam dn 7.4%, Tcs dn 7.1%, Wipro dn 4.9%

Index Gainers: R power up 12.1%, Ranbaxy 10.5%, Sail up 7.7%, Tata Power up 8.4%,

Index Gainers: Rcom up 7.8%, ONGC up 7%, ITC up 6.8%, Tata Steel up 6.2%

Mid Cap Gainers: Lanco Infra up 255, GVK power up 24%, wwil up 23.5%, Renuka up 18.4%, Ivrcl Infra up 18%,

Mid Cap Gainers: Dish Tv 14.1%, Balrampur Chini up 12%, Jsw Steel up 11.7%, Aban Off up 11.3%, Hind Oil Exp up 11.2%

NSE Adv: Decline at 3:1

Total market turnover at Rs 49570.10 crore versus Rs 47883.52 crore

NSE F&O Turnover at Rs 33758.52 crore versus Rs 34113.94 crore

FM-PSU Bankers Meet:

SBI says
-See interest rates softening
-Consensus that lending & deposit rates can be cut
-May cut lending rates by 25-50 Bps
-To cut PLR by upto 50 bps in 1-2 days
-To decide on deposit rate cut in a couple of weeks

BoB says may cut lending rates by 75 bps on Wednesday

Vijaya Bank says may cut lending, deposit rates later this week

PNB says to look into possibility of further cut in lending rates

Union Bank says to reduce lending rates by 25 bps

Bank of Maharashtra says all banks agreed to cut lending rates by 75 bps

F&O Snapshot:

Nifty Futures continues to see long build up,

Nifty Futures oscillated between 10 to 30 point premiums

Real Estate stocks up with Significant OI build up

Fresh Short Build up in IT stocks

Banking & Capital goods stocks continue to see log build up

Aggressive Put writing in 2800 strike price

Options Activity:

Nifty 2800 put adds 7.2 lakh shares

Nifty 2900 put adds 6.3 lakh shares

Nifty 3000 put adds 6 lakh shares

Fresh Long:

Real Estate: Unitech, DLF, IB Real, HDIL

Bank : SBi , Axis Bank , Hdfc Bank

Misc : Bharti , Tata Steel , Sail , ONGC

Fresh Short:

IT: Satyam Comp, Tcs, Infosys

Mkts see strong pullback; Metal, Oil, Bank indices up 7-10%

2008-10-31T12:01:00.000-07:00

It was a spectacular session for the markets. Benchmark indices shot up quite sharply on the back of short covering on the first day of November series. This was the second consecutive day that markets have been jumped higher led by metal and oil stocks. Huge buying was also seen in banking, telecom, IT, auto and capital goods stocks.

The Sensex has touched an intraday high of 9,870.42, before closing at 9,788.06, up 743.55 points or 8.22% over previous close. The Nifty finished lower by 188.55 points or 6.99% at 2885.60. It has hit a high of 2921.35.

The November series started on a light note. Double digit gains seen on 25% of F&O stocks on low volumes. Nifty futures added 30 lakh shares in open interest and ended at a premium of 15 points. The series started off a very light note in stock futures as well, therefore hugh percentage open interest build up seen on lower base. IT, Oil & Gas and bank stocks saw fresh long build up.

Among the frontliners, Mahindra & Mahindra jumped over 23%. HDFC, Jaiprakash Associates, ICICI Bank, Sterlite Industries, Reliance Industries, Reliance Communication, Hindalco, Tata Steel, Tata Power, Tata Communication, HCL Tech, Cairn India and Idea Cellular gained 10-18%.

Market breadh was positive throughout the session; about 1768 shares have advanced while 1185 shares have declined. Nearly 237 shares remained unchanged.

The BSE Metal index outperformed other indices; shot up 10.20% or 496.73 points to 5,367.60. JSW Steel jumped 32.70%. Jindal Steel, Sterlite Inds, Hindalco and Tata Steel rose 12-15%.

Oil stocks like The BSE Oil & Gas Index was up 517.29 points or 9.11% at 6,195.62. Reliance Industries gained 13.81% and ONGC rose 3.04%. However, oil marketing companies like BPCL, IOC and HPCL lost 7.12%, 3.05% and 0.21%, respectively.

Bankex gained 336.90 points or 7.21% at 5,011.24. ICICI Bank was up 15.50% and HDFC Bank gained 8.25%.

Telecom stocks like Tata Communication, Reliance Communication, Idea Cellular, MTNL and Bharti Airtel jumped 5.5-18.5%.

Auto stocks ended in positive terrain. M&M jumped 23.09%, Tata Motors and Maruti rose 9.11% and 4%, respectively. Index jumped 161.22 points or 6.39% to 2,685.62.

IT Index was up by 156.17 points or 5.77% at 2,861.94. HCL Tech rose 14%. Satyam, Tech Mahindra, Wipro and Infosys were up 6-7.6%.

Power stocks Power Index moved up by 83.13 points or 5.54% to 1,583.37. CESC, Tata Power, Reliance Infrastructure, Power Grid Corp and NTPC were up 5-14%.

Capital Goods stocks like BHEL and L&T were up 8.72% and 5.53%, respectively. Capital Goods Index surged 333.90 points or 5% to 7,017.61.

The BSE FMCG Index rose 57.76 points or 3.32%, to close at 1,799.83. United Spirits, Dabur India, United Breweries, HUL and GlaxoSmith Consumer were up 4-19%.

Pharma stocks like Divis Labs, Glenmark, Ipca Labs, Opto Circuits and Sterling Biotech gained 6.5-12.7%. Healthcare Index was up 86.92 points or 3.23%, to settle at 2,778.64.

Realty stocks also participated in this rally. Anant Raj Ind, DLF, Peninsula Land and Ansal Properties rose 7-10.5%. Realty Index jumped 44.40 points or 2.3% to 1,978.24.

The BSE Midcap Index ended higher by 105.54 points or 3.41 percent at 3,200.02 and the BSE Small Cap Index was up 90.50 points or 2.46% at 3,765.11.

Among the midcap stocks, Core Projects shot up 38.73%. India Infoline, Mercator Lines, Advanta and Maharashtra Seamless gained 20-25%.

In the small cap space, Bannariamman, INEOS ABS, Greenply Inds, Eicher Motors and Kemrock Indus were up 20% each.

Volumes were very lower in today's trade. Total traded turnover stood at 52,895.42 crore. This includes Rs 12,230.39 crore from NSE Cash segment, Rs 36,959.23 crore from NSE F&O and the balance Rs 3,705.80 crore from BSE Cash segment.

On the global front, Asian markets ended mixed. Japan's Nikkei went down 5%, as Bank of Japan disappointed the market by announcing modest rate cut of 0.2% versus expectation of 0.25%. Hang Seng fell 2.52% and Shanghai lost 1.97%. Straits Times fell 0.43%. However, Jakarta, Kospi and Taiwan jumped 2.6-7.06%.

Barclays will raise USD 11.8 billion from investors. BT Group tumbled 18% after saying Q2 earnings missed its targets.

European markets were trading weak. FTSE and CAC tumbled 1.8% each. DAX was down 0.64%, at 4 pm. Retail sales in Germany, Europe's largest economy, fell more than economists expected in September.

Dow Jones and Nasdaq Futures were down 1.69% and 2.3%, respectively.

Markets Snapshot

Market gains for second consecutive day led by Metal and Oil & Gas stocks

Sensex closes up 743 points to close at 9788; Nifty closes up 188 points to close at 2885

CNX mid cap up 3.5%, Bse Small Cap up 2.4%

Bse Metals up 10.2%, JSW Steel up 33.7%, Sterlite Ind up 16%, Jindal Steel up 15%, Hindalco up 13.8, Tata Steel up 12.2%

Bse Oil & Gas up 9.1% , Reliance up 14.4%, Cairn up 12.2%

Bse Bankex Up 7.2%, Icici Bank up 15.4%, Bank Of India up 8.2%, Hdfc bank up 7.5%, Axis Bank up 6.8%

Bse Auto up 6.3%, M&M up 24%, Tata Motors up 6.1%

Bse Cap Goods up 5%, Bhel up 9.8%, L&T up 6.2%,

Index Gainers: Tata Comm up 18%, HDFC up 17.2%, Hcl Tech up 14%, Rcom up 13.4%

Index Gainers: Tata Power up 12.5%, Idea up 10.2%, Zee ent up 10%

Mid Cap Gainers: Core Proj up 39.4%, India Infoline up 26.6%, United Phos up 25.6%, Mercator Line up 20.4%, Dabur up 20%

Mid Cap Gainers: Suven Life up 20%, Tata Chem up 19.2%, United Spirits up 18.1%, Sterlite Tech up 18.1%, GE Ship up 16%, Balrampur Chini up 15.7%, India Cement up 15.5%

NSE Adv: Decline at 5:2,

Total market turnover at Rs 52895.42 crore versus Rs 69004.74 crore

NSE F&O Turnover at Rs 36959.23 crore versus Rs 54223.24 crore

F&O Snapshot

Series Starts on a light note, double digit gains on 25% of F&O stocks on low volumes and high impact cost

Nifty futures adds 30 lakh shares, ends at a premium of 15 points

Started off a very light note in stock futures, therefore hugh % OI build up on lower base

IT , Oil & Gas and Bank stocks sees fresh long build up

Options Activity

Nifty 2700 Put adds 7.9 lakh shares

Nifty 2900 call adds 7.1 lakh shares

Nifty 2800 put adds 6.3 lakh shares

Nifty 2500 put adds 4 lakh shares

Fresh Long:

Oil & Gas : Reliance Ind , RPL, Essar Oil

Banks : HDFC , Axis bank ,

Misc : Bharti , Indian Bank , Infosys , Tata Motors

Short Covering: Hindalco, Core Project

Markets rally; RIL, Infy, Bharti, ICICI, ONGC strong

2008-10-30T23:08:00.000-07:00

The benchmark indices have moved up further on the back of short covering. Buying is seen in metal, technology, telecom, oil and banking stocks. The Nifty has been hovering around the 2,900 mark and the Sensex is holding above 9,500 mark. This pullback rally is due to Asian markets, which rallied on Wednesday and Thursday.

Reliance Industries, ONGC, Bharti Airtel, Infosys, NTPC, HDFC, Wipro, TCS, ICICI Bank, HDFC Bank, SBI and BHEL are leading the pullback.

The Sensex rose 704 points to 9,749 and the Nifty gained 188 points at 2,884, at 10:36 am. The BSE Midcap and Small Cap indices jumped over 2% each.

The market breadth is positive; with 1,742 shares advancing while 1,214 shares have declined. Nearly 234 shares are unchanged.

BSE IT, Metal, TECk, Oil and Gas and Bank indices gained 8-9.5%. FMCG, Power, Auto, Realty and Capital Goods Index rose 3.5-5.8%.

Bharti Airtel jumped over 7% after its second quarter numbers. Its Q2 (US GAAP) net profit was up at Rs 2,046 crore versus Rs 2,025 crore and revenues up at Rs 9,020 crore versus Rs 8483 crore (QoQ).

Aban Offshore shot up over 10% on account of strong numbers in Q2FY09. Its Q2 consolidated net sales went up by 73% at Rs 824.3 crore versus Rs 476.1 crore. OPMs improved to 55.9% versus 52.4%. Its net profit was up by 29 times at Rs 267.6 crore from Rs 9 crore.

Asian markets are mixed; Shanghai, Nikkei and Hang Seng fell 1-2.5%. Straits Times, Taiwan and Kospi gained 1-3%.

Markets @ 9:56 am : Mkts surge; oil, bank, metal, IT stocks lead

The markets have opened with a huge gap up following positive US cues. SGX Nifty, which rose 7%, has also been suggesting the same. Buying was seen in oil, banking, technology, metal, realty, telecom and power stocks.

At 9:56 am, the Sensex jumped 484 points to 9,529 and the Nifty rose 142 points to 2,839. CNX Midcap 100 gained 2.35% at 3,465.

Reliance Industries, ICICI Bank, SBI, Cairn India, ITC, ONGC, HDFC, Reliance Infrastructure and Suzlon Energy are the leaders.

Asian markets are trading mixed. Shanghai and Hang Seng fell 1.5-3%. Nikkei lost 0.7%. However, Straits Times gained 0.91%. Kospi, Taiwan and Jakarta jumped 3-6.6%.

In the US markets, traders shrugged off disappointing GDP data, which showed the economy is shrinking, in late trade. It was yet again a session of wild swings with last-minute gains. The Dow gained 189.73 points, or 2.11%, to 9,180.69. The S&P 500 index advanced 24 points, or 2.58%, to 954.09, while the Nasdaq composite index surged 41.31 points, or 2.49%, to 1,698.52.

Market cues:

FIIs net sell USD 250.6 million in equity

MFs net buy Rs 503.5 crore in equity

Crude declines to $65/bbl; copper and gold slump

Inflation lower than anticipated at 10.68%; raises expectations of single digit inflation sooner

NSE F&O Nov series begins with Open Int of Rs 36,982 crore versus Rs 54,427 crore in October

F&O cues:

Marketwide rollover at 75% Vs 76% seen last time

Nifty rollover at 62% Vs 63% seen last time

Nifty Futures at 26-point premium vs 49-point premium at beginning of Oct series

Nifty Open Int PCR at 1.02 vs 1.17 at beginning of Oct series

Nifty 2700 Put adds 12 lakh shares in Open Int

Nifty 2400 Put adds 6 lakh shares in Open Int

Nifty 2700 Call adds 11 lakh shares in Open Int

Wall Street ends higher; Dow up 189 points

2008-10-30T21:21:00.001-07:00

Traders shrugged off disappointing GDP data that showed the economy is shrinking in late trade. It was yet again a session of wild swings with last minute gains. The Dow closed with a gain of 200 points up 2% while the Nadaq and the broader S&P 500 put on about 2.5% at close.

US 3Q GDP shrank 0.3% Vs growth of 2.8% in 2Q; biggest decline since 2001. US 3Q GDP was expected to drop by 0.5%. US Consumer spending dropped 3.1% against expectation of 2.4% drop. US Consumer spending drops for the 1st time since 1991 and witness biggest since 1980. Initial jobless claims for the week ending Oct. 25 were unchanged at 479,000 against expectation of 475,000.

The Dow gained 189.73 points, or 2.11%, to 9,180.69. The S&P 500 index advanced 24 points, or 2.58%, to 954.09, while the Nasdaq composite index surged 41.31 points, or 2.49%, to 1,698.52.

Sensex ends above 9K in Samvat 2065; Realty up 10%

2008-10-28T09:30:00.000-07:00

It was a strong Muhurat trading session for the Indian market. Benchmark indices have rebounded sharply in the Samvat 2065 and have broken four-session losing streak. The positive trend in global markets also helped our markets. Buying was seen in the most beaten down sectors namely realty, metal, power, capital goods, oil and auto stocks. Midcap and small cap stocks also followed the same trend.

Reliance Industries, Bharti Airtel, Reliance Communication, TCS, ICICI Bank, Unitech, SAIL, BHEL, Infosys, Reliance Infrastructure and Sterlite Industries were leaders in today's trade. All BSE Indices ended in positive terrain.

The 30-share BSE Sensex closed above 9000 mark. It surged 498.52 points or 5.86%, to settle at 9,008.08, after hitting an intraday high of 9,056.97.

The 50-share NSE Nifty remained above 2600 throughout the session. It closed with a gain of 160.4 points or 6.35% at 2684.60. It touched a high of 2695.95. Nifty October and November Futures ended with premium of 20.20 points and 10.55 points.

The BSE Midcap Index was up by 191.23 points or 6.45% to 3,157.46 and the Small Cap Index jumped 232.77 points or 6.69%, to settle at 3,711.61.

Market breadth was positive; about 2076 shares have advanced while 901 shares have declined. Nearly 213 shares remained unchanged.

Among the frontliners; Unitech, Hindalco, Tata Motors, Suzlon Energy, Zee Entertainment, DLF, Reliance Communication, M&M, Jaiprakash Associates and Reliance Infrastructure gained 10-15%.

Realty, the most beaten sector, witnessed huge buying interest. Index surged 181.35 points or 9.98%, to close at 1,998.63. Unitech and DLF were up 14.99% and 9.87%, respectively. Peninsula Land, Mahindra Life and Parsvnath rose 14-16%.

Metal Index was up by 304.12 points or 7.12% to 4,572.68. Hindalco, NALCO, Tata Steel, Jindal Steel and Sterlite Industries gained 7-11%. SAIL surged 4.26%.

Power stocks like GMR Infra rose 20%. Suzlon Energy, Reliance Infrastructure and Power Grid Corp gained 9-11%. Power Index gained 98.47 points or 7.02% to 1,500.62.

Buying was also seen in the Capital Goods sector; index rose 444.22 points or 7.01% to 6,784.02. Siemens, Thermax, L&T, ABB and BHEL were up 6-10%.

Oil & Gas Index surged 345.21 points or 6.67%, to close at 5,524.52. Reliance Industries and ONGC were up over 7% and 3.7%, respectively. Oil marketing companies like IOC, BPCL and HPCL were up 4-6.6%.

Auto stocks Mahindra & Mahindra, Tata Motors, Maruti Suzuki and Hero Honda jumped 4.85%-12.68%. Auto index was up by 149.92 points or 6.42%, to settle at 2,483.85.

Telecom stocks like Reliance Communication, Bharti Airtel and Idea Cellular rose 6.5-8%.

BSE Bankex ended with a gain of 232.66 points or 5.20% at 4,704.68. SBI and ICICI Bank were up over 6% each. PNB, Union Bank and HDFC Bank gained 3.5-4%.

IT Index moved up by 108.88 points or 4.21% to 2,695.85. Tech Mahindra, HCL Tech, TCS, Wipro, Satyam and Infosys were up 2-11%.

Pharma stocks like Sun Pharma Advanced, Cipla, Piramal Health and Ranbaxy Labs gained 6-15%. BSE Healthcare Index jumped 109.67 points or 4.10%, to close at 2,781.51.

FMCG Index ended at 1,783.91, up 68.41 points or 3.99% over previous close. Tata Tea, Dabur India,, Nestle, ITC and United Spirits jumped 4-8%.

Among the midcap stocks, IVRCL Infrastructure, Everest Kanto, UTV Software, Patel Engg, Orbit Corporation, PSL and Koutons Retail rose 20-31%.

In the small cap space, Kalyani Steels, Kewal Kiran, Classic Diamond, Easun Reyrl, Dewan Housing and Agro Tech Foods were up 20-28.5%.

Global markets also saw strong bounce back in today's session. European markets were trading sharply higher; FTSE was up 2.78% at 3,959.84. CAC and DAX were up by 2.25% and 6.09% at 3,136.29 and 4,598.67, respectively, at 7:50 hours IST.

In the US markets, the Dow Jones Industrial Average was trading at 8,364, up 189 points. The Nasdaq rose 24.75 points to 1,530.64 and S&P 500 gained 16 points at 864.

Asian markets ended sharply higher. Hang Seng was up by 14.35%. Nikkei surged 6.41%. Straits Times and Kospi rose 4.14% and 5.57%, respectively. Shanghai jumped 2.81% and Taiwan was up 0.76%. However, Jakarta lost 4.72%.

Crude was trading at USD 63.58 to a barrel on the NYMEX.

Mkts plummet; ONGC, SBI, NTPC, Rel Comm top draggers

2008-10-27T02:27:00.001-07:00

The benchmark indices are still under pressure, despite showing smart recovery from day's low. The Sensex has clawed back above 8000 mark and the Nifty turned back above 2300 level. Global indices are also trading sharply lower, which are putting pressure on our markets.

The panic selling continues, as Asian markets collapsed. Relentless selling pressure from European fund continues. Dealers say that investors are liquidating stocks in panic. Bank and capital goods stocks continue to be under selling pressure. Portfolio stocks are being sold in panic. However, DIIs are nibbling at lower levels.

The Sensex fell 618 points to 8,082 and the Nifty lost 200 points to 2,383, at 2:27 pm. BSE Midcap and Small cap indices tumbled over over 7% each.

Market breadth is still weak; about 443 shares have advanced while 2564 shares have declined. Nearly 183 shares are unchanged.

Buying is seen in Bharti Airtel, Idea Cellular, Unitech, Ambuja Cements, Cipla and GAIL. However, top draggers are ONGC, SBI, NTPC, Reliance Communication, ITC, Wipro, L&T, HDFC Bank and TCS.

Suzlon Energy has suspended its rights issue of Rs 1800 crore. After this news, the stock had come back in the green and jumped over 8%. But immediately renewed selling pressure hammered the stock again.

On the global front, Asian markets closed sharply lower. Hang Seng tanked 12.7%. Shanghai, Jakarta and Nikkei fell over 6%. Taiwan lost 4.65%.

Among the European markets, FTSE fell 4.2%. DAX and CAC lost 3.86% and 6.04%, respectively.