The benchmark Nifty closed last session of the fiscal year 2009-2010 with modest losses on the back of stock specific selling. It slipped below the 5250 level and continued profit booking for the second consecutive day. However, the benchmark indices showed outstanding performance in FY10, rallied over 70%.
In today’s trade, heavyweights dragged the index into negative terrain. Reliance Industries, TCS, Infosys, ITC, BHEL, ICICI Bank and HUL were the losers while NTPC, SAIL, HDFC, HDFC Bank, Bharti, Wipro and Reliance Communications were gainers in trade.
The 30-share BSE Sensex shed 62.40 points to close at 17,527.77 and the 50-share NSE Nifty fell 13.35 points to settle at 5,249.10. However, the benchmark indices outperformed the benchmark indices today as well; the BSE Midcap index was up 0.25% and Smallcap up 0.5%.
Weak Asian cues also weighed on the markets. Straits Times lost 1.6%. Shanghai, Hang Seng, Jakarta, Kospi and Taiwan were down 0.4-0.75%. Nikkei was flat. European markets were flat in trade, at the time of closing of Indian equities.
Reliance Industries from the oil & gas space declined 1.3% and BPCL was down 0.78% while GAIL and Cairn India went up 2-2.55%. ONGC was flat.
TCS from the technology segment slipped 2.4% and Infosys lost 1%. HCL Tech was down 0.25% while Wipro rose 0.76%.
In the banking space, ICICI Bank went down 0.76%; SBI and Axis Bank were down 0.2-0.4%. However, HDFC went up 3%. HDFC Bank was up 1.4% and PNB up 0.5%.
BHEL and L&T from the capital goods segment moved down 0.4-0.75% while ABB gained 0.65%.
FMCG space also witnessed selling pressure; ITC tumbled over 2% and HUL was down nearly 1%.
Jindal Steel and Hindalco from the metal pack slipped 1-1.5%. Tata Steel was down 0.4% while SAIL rallied 3.4%. Sterlite Industries rose 0.5%.
M&M and Hero Honda from the auto segment declined 1.2-1.5% while Maruti Suzuki was up 0.7% and Tata Motors up 0.2%.
Idea Cellular from the telecom pack lost 1.65%. However, Bharti Airtel gained 0.55%, as ; the company inked a definitive agreement to acquire Zain Africa on Tuesday. The Indian telecom major will become the world’s 5th largest wireless company post the Zain buy. Reliance Communication also rose 2%.
NTPC was the top leading counter on the Nifty, gained 2%. Among other power stocks, Power Grid and Reliance Infrastructure gained 0.4-0.65% while Suzlon and Reliance Power fell 0.4-0.6%.
In the healthcare segment, Sun Pharma went up 2.2% while Cipla and Ranbaxy Labs were flat. Unitech from the realty pack gained 1.1% while DLF was flat.
The market breadth was positive; about 1634 shares advanced while 1270 shares declined on the BSE. Nearly 325 shares remained unchanged.
Top percentage gainers – Josts Engineers, Ennore Coke, Camson Bio Tech and TCP shot up 20% each. Shirpur Gold was up 19.61% and HB Estate Dev up 17.82%.
In the midcap space, Kansai Nerolac rose 13.73%. Essar Shipping, Asian Star, Honeywell Automation and State Bank of Bikaner were up 5-6.7% while MVL, Gujarat NRE Coke, REI Six Ten, Blue Star and Balrampur Chini lost 3.5-6%.
In the smallcap space, Oriental Hotels, Finolex Industries, Vikas WSP and Rollatainers went up 10-13.7% while Swaraj Mazda, Carol Info, ISMT, HBL Power and Hinduja Foundries lost 5-10%.
The markets reported total turnover of Rs 83,903.65 crore. This included Rs 13,254.81 crore from the NSE cash segment, Rs 66,792.46 crore from the NSE F&O and the balance Rs 3,856.38 crore from the BSE cash segment.
Nifty volatile; NTPC, SAIL, HDFC, HDFC Bank, GAIL up
At 14:30 hours IST, the benchmark Nifty was lacklustre in trade on the back of two-way moves and even due to lack of global cues. On the one side, technology, FMCG, capital goods and select metal companies’ shares along with Reliance Industries, ICICI Bank, Idea Cellular, BPCL, M&M and Jaiprakash Associates were witnessing selling pressure.
However, buying in NTPC, SAIL, HDFC, HDFC Bank, Sun Pharma, SBI, Wipro, DLF, Reliance Infrastructure, Bharti, Maruti, Unitech, Ambuja Cements, Tata Power, ABB and ACC was helping the indices.
The Sensex was trading at 17546, down 44 points and the Nifty was at 5249, down 13 points. The Nifty April future was trading with 15 points premium.
Top gainers among the largecaps – HDFC, SAIL, Sun Pharma, NTPC and GAIL rose 2-2.7%. Reliance Infrastructure and DLF were up 1% each.
The market breadth was positive; about 1699 shares advanced while 1205 shares declined on the BSE. Nearly 325 shares were unchanged.
In the midcap space, P&G gained 10.4%. Puravankara Projects, Essar Shipping, Sun Pharma Advanced and HT Media went up 3.5-5%.
However, Gujarat NRE Coke, Corporation Bank, REI Six Ten, MVL and Dishman Pharma fell 2.5-4%.
In the smallcap space, Shirpur Gold, Finolex Industries, Rollatainers, Mukand and Graviss Hospital were up 9-11%.
However, Swaraj Mazda, ISMT, Subhkam Capital, Modern India and JMD Telefilms declined 4-10%.
Stocks in news:
Srinivasa Hatcheries gained 4%, as it has approved 1-for-1 bonus share issue.
KSK Energy has started power production for 135 MW lignite fired Rajasthan project. The share rose 4%.
Nirma went up 2.4%; the company approved merger of Nirma Credit Cement, Mining operations with self.
Himadri Chemicals rallied nearly 4%, as Bain Capital acquired additional 10% in open offer totaling USD 35 million at Rs 400/share in the company.
Ahluwalia Contracts has bagged projects worth Rs 425 crore. The stock shot up 4.6%.
Rana Sugars surged 13.5%, as it has entered into agreement with Tata Power for sale of power.
Compact Disc promoter group shareholding hiked to 24.69% from 20.01%. The share rallied 4.6%.
Sensex flat; realty, auto, power, pharma shine
At 12.53 hrs IST, Nifty was trading flat with positive bias. The Nifty was trading in a band of 5240-5290. The markets took a breather yesterday after a 4-day winning streak which took Nifty to record 52-week high of 5329.
Buying was seen in realty, auto, power, consumer durables and pharma stocks. Selling was seen in FMCG, IT and metal stocks. BSE Midcap and Smallcap index were trading in green.
The Sensex was up 40.21 points or 0.23% at 17630.38, and the Nifty up 8.60 points or 0.16% at 5271.05. About 1730 shares advanced, 1151 shares declined, and 348 shares were unchanged.
In the largecap space, Sun Pharma was the top gainer. HDFC, NTPC, DLF and Bharti Airtel were up 1-2%. On the losing side, Idea Cellular, Jindal Steel, Hindalco, ITC and BPCL were down 1-2%.
Hindustan Lever was trading at Rs 238.90 down 0.77% from its previous close of Rs 240.75. Index heavyweight Reliance was trading at Rs 1,081.70 down 0.57% from its previous close of Rs 1,087.85.
Tech major Infosys was trading at Rs 2,628.50 down 0.58% from its previous close of Rs 2,643.90. Cigarette major ITC was trading at Rs 266.00 down 1.08% from its previous close of Rs 268.90. Refinery major HPCL was trading at Rs 317.70 up 0.25% from its previous close of Rs 316.90.
Top gainers on the BSE Midcap: Procter and Gamble, Sun Pharma Advance, JK Bank, Phoenix Mills and Havells India were up 3.35-4.86%.
Top losers on the BSE Midcap: MVL, Corporation Bank, Dishman Pharma, Gujarat NRE Coke and Jindal Saw were down 2-4%.
Top gainers on the BSE Smallcap: Mukand, Graviss Hosp, Smartlink Net, Finolex Industries and Vikas WSP were up 8-9%.
Top losers on the BSE Smallcap: Swaraj Mazda, Subhkam Capital, JMD Telefilms, Richa Industries and Hinduja Foundri were down 4-9%.
Nifty tests 5250 amid choppy trade; RIL, ITC, Infy slip
At 11:28 hours IST, the 50-share NSE Nifty slipped marginally into the red amid choppy trade on the back of weak Asian cues and selling in heavyweights. It tested the 5250 level as well.
Among the Asian markets, Shanghai, Jakarta, Straits Times, Kospi and Hang Seng lost 0.4-0.6%. Nikkei and Hang Seng were flat.
Heavyweight Reliance Industries was down over 1%. Technology companies’ shares also declined again; TCS, Infosys and HCL Tech fell 0.5-0.7%.
ITC and HUL from the FMCG segment were down 0.85% each. Even metal stocks were witnessing profit booking; Sterlite, Hindalco, Jindal Steel and Tata Steel lost 0.5-1.4%.
However, auto, capital goods, realty, select pharma and banking & financial stocks were quite supportive to the markets. NTPC, Bharti and DLF went up 1.4-1.8%. Wipro, BHEL, SBI, HDFC and HDFC Bank gained 0.4-0.7%.
The Sensex was trading at 17569, down 21 points and the Nifty was at 5252, down 10 points. The Nifty April future was trading with 6 points premium.
The market breadth was in favour of advances; about 1645 shares advanced while 1215 shares declined on the BSE. Nearly 369 shares were unchanged.
Top percentage gainers – Josts Engineers and TCP rallied 20%. Ennore Coke was up 18.55% and Shiva Texyarn up 18.93%. D-Link India, Camson Bio, MRO-TEK and Aarvee Denim were up 11-17%.
Top percentage losers – Choice Financial fell 19.16%. Hipolin, Parsoli CapandF, Swaraj Mazda, VXL Instruments, Eurotex, Blue Coast and Novopan were down 4.5-12%.
Sensex consolidates; RIL, Hindalco, HUL dip
At 10:18 hours IST, the 30-share BSE Sensex was consolidating at current levels. Buying in technology, power, realty, auto, capital goods, pharma and select cement stocks was supporting the markets. Bharti Airtel, ONGC, HDFC Bank, HDFC, SBI and Reliance Communications were the other gainers.
Bharti Airtel gained further; was up 1.8%, it has inked a definitive agreement to buy Zain Africa. The Indian telecom major will become the world’s 5th largest wireless company post the Zain buy. The enterprise value of Zain Africa BV is USD 10.7 billion.
Technology stocks were seeing buying interest. Infosys and Wipro went up 0.8% each. TCS rose 0.3%.
However, selling in Reliance Industries, Jindal Steel, Hindalco, HUL, Axis Bank, PNB, BPCL, Tata Steel, ITC, Idea and Grasim wiped out some of the early gains.
The Sensex was trading at 17630, up 40 points and the Nifty was at 5270, up 7.7 points. The Nifty April future was trading with 8 points premium.
On the global front, Asian markets were marginally weak. Shanghai, Hang Seng, Jakarta, Straits Times, Kospi and Taiwan fell 0.1-0.6% while Nikkei gained 0.3%.
The broader indices were outperforming the benchmark indices; the BSE Midcap Index was up 0.4% and the Smallcap was up 0.8%. About 1749 shares advanced while 1087 shares declined on the BSE. Nearly 392 shares were unchanged.
In the midcap space, Sun Pharma Advanced, LIC Housing Finance, Havells India, J&K Bank and Essar Shipping were up 3-5% while MVL, Gujarat NRE Coke, Polaris, Financial Tech and Dishman Pharma fell 1.7-8.5%.
In the smallcap space, Rollatainers was locked at 10% upper circuit. Mukand, Smartlink Network, Finolex Industries and Shrenuj went up 6.7-9%. However, Subhkam Capital, Swaraj Mazda, Ruchinfra, Heritage Foods and Prraneta Industries lost 2.5-5%.
Nifty bounces back; Infy, Bharti, ICICI Bank gain
The benchmark Nifty recouped some of its Tuesday’s losses and was trading below the 5300 mark. Technology shares bounced back after two-day losses on rupee appreciation. Realty, select banking and auto stocks were also witnessing buying interest.
At 9:02 hours IST, the Nifty was trading at 5278, up 16 points and the Sensex was at 17649, up 59 points.
The CNX Midcap went up 38 points to 7707. About 550 shares advanced while 150 shares declined on the NSE.
Among the frontliners, DLF, Hero Honda, ICICI Bank, Tata Motors, Infosys, TCS, M&M, Jaiprakash Associates, Unitech, Jindal Steel & Power and SBI were the gainers.
Bharti Airtel has inked a definitive agreement to acquire Zain Africa. The enterprise value of Zain Africa BV is USD 10.7 billion, Bharti said in a press release. The Indian telecom major will become the world’s 5th largest wireless company post the Zain buy. The stock rose over 1%.
However, HDFC, ONGC, Tata Power, ITC and HDFC Bank were the losers in the early trade.
Midcap & Smallcap Space:
NMDC gained 1.5% and was near to Rs 300 level, after seeing sell-off in the last few days.
3i Infotech gained 2.5%, as its QIP book opened. The deal size is Rs 120-180 crore and floor price fixed Rs 78.60/share.
Valecha Engineering rallied 5%. SREI Infra gained 1%.
Chola DBS was up 4%, as Murugappa group will buy over 37.48% stake in company at Rs 91/share.
However, recently listed ITNL lost 0.5% on profit booking.
Global cues:
Asian markets were mixed in trade. Shanghai, Jakarta and Straits Times fell 0.3-0.5% while Hang Seng and Nikkei gained 0.2-0.3%. Kospi and Taiwan were flat.
The US markets ended flat amid better-than-expected consumer confidence report. The US dollar made a move up from negative territory to finish with a 0.3% gain.
The Dow Jones Industrial Average ended up 11.5 points at 10907. The Nasdaq was up 6 points at 2411 and S&P 500 closed flat at 1173.
Commodities
CRB Commodities Index gained 0.3%.
May Crude oil was up 0.2% at USD 82.37/bbl.
April gold was down 0.5% at USD 1104.5/ounce.
May silver fell 0.3% at USD 17.33/ounce.
May natural gas was up 1.5% at USD 3.98 per MMBtu, has been recovering from 6-month low at USD 3.85.
Natural gas fell 36% since early January.
Market cues:
FIIs were net buyers of USD 229 million in equities on March 29
Total F&O Open Int was up by Rs 2100 crore to Rs 91934 crore
As per provisional data of March 30, FIIs were net buyers of Rs 580 crore; DIIs were net buyers of Rs 100 crore in cash markets. FIIs were net sellers of Rs 69 crore in F&O.
F&O cues:
-Total Futures Open Int was down by Rs 453 crore
-Total Options Open Int ws up by Rs 2553 crore
-Stock Futures add 40 lakh shares in Open Int
-Nifty down 0.7%, Open Int down 2%
-Nifty Open Int PCR at 1.17 from 1.16
-Nifty Calls add 18.4 lakh shares in Open Int
-Nifty Puts add 22 lakh shares in Open Int
-Nifty April 5400 Put adds 8.6 lk shrs in Open Int
-Nifty April 5300 Call adds 6.8 lk shrs in Open Int
-Nifty April 5200 Put adds 4.4 lk shrs in Open Int
-Nifty May 5100 Put adds 2.2 lk shrs in Open Int
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