3:18 pm
Jack
Indian equity benchmarks, which reacted briefly to the CAG report that indicted Reliance of using the loopholes in production sharing contract to its advantage, moved on to more important cues. Both the Sensex and Nifty strengthened following upmove in European markets which gained 1% ahead of BoE & ECB meet and Obama speech today. Reliance Industries too rebounded with nearly 2% gain, leading the market. The 30-share BSE Sensex rose 130 points to 17,195 and the 50-share NSE Nifty moved up 40 points to 5,164.
Among other largecaps, Infosys, Wipro, L&T, TCS, ICICI Bank, HUL, Ranbaxy, Sterlite and Tata Motors rallied 1-4%. Heavyweights SBI and Bharti Airtel too were supportive with moderate gain.
About 30 shares advanced while 19 shares declined on Nifty. In total, about 895 shares gained while 526 shares dropped on NSE.
However, ONGC, NTPC, HDFC, SAIL, Bajaj Auto, JSPL, Tata Steel, Power Grid and Tata Power were under selling pressure, which fell 0.7-1.7%. ITC and HDFC Bank declined 0.4% each.
In the midcap space, Madras Cements, VIP Industries, Jubilant Life, SKS Microfinance and Thermax jumped 5-9%. However, Eicher Motors, HT Media, Motherson Sumi, Mahindra Holiday and Muthoot Finance slipped 3.5-4%.
In the smallcap space, Nectar Life and Hindustan Dorr-Oliver were locked at 20% upper circuit. Hanung Toys, Dynamatic Tech and Allied Digital gained 10-13%.
However, Bhansali Engg crashed 20%. Modern India, Prabhav Industries, Prraneta Industries and Shri Ganesh fell 5%.
At 13:26 hours IST : Sensex choppy; tech, auto, pharma stocks gain
Consolidation continued in the market today after rally in previous five sessions. European markets too were flat with negative bias in the early trade. It seemed that the market has factored in all global as well as domestic news; now every market across the globe is eyeing for US president Barack Obama's speech to be held today. There was speculation that Obama may propose USD 300 billion job package.
The 30-share BSE Sensex dropped 34 points to 17,031 while the 50-share NSE Nifty fell 9.5 points to 5,115.
Technology, auto (four-wheeler stocks) and healthcare companies' shares were on buyers' radar while the sell-off continued in oil & gas, metal, power, ADAG and select financial stocks on the back of profit booking.
SBI, Reliance Industries, Infosys, Everonn Education and L&T were most active shares on exchanges.
Wipro, Infosys, TCS and L&T were leading gainers on Nifty - gained 0.7-2.8%. However, leading draggers were Reliance, ONGC, HDFC Bank, HDFC and SAIL, which lost 1-3%.
New listing: TD Power System rallied over 16% to Rs 298 on Day 1
About 821 shares advanced as against 583 shares declined on National Stock Exchange.
At 12:20 hours IST : Nifty trades flat; RIL falls 1.5% post CAG report on KG D6
Indian equity benchmarks continued to trade flat, though the stock of Reliance Industries fell 1.5% after the Comptroller & Auditor General (CAG) report on KG-D6 Basin was tabled in Parliament. ONGC too was down 1%.
The 30-share BSE Sensex was trading at 17,037, down 27 points and the 50-share NSE Nifty lost 7 points to 5,118.
HDFC Bank, SAIL, NTPC, JSPL, Bharti Airtel, Tata Steel, HDFC, SBI, ITC and Bajaj Auto were other losers; these stocks fell 0.5-2.5%.
However, buying in technology stocks was quite supportive to the market, though these stocks came off their day's high a bit. Wipro, Infosys and HCL Tech rose 1-3%. TCS gained 0.6%.
Upmove was also seen in Ranbaxy Labs (up 4%), Sun Pharma, L&T, Tata Motors, M&M and DLF.
Arvind gained 2.5% as Tommy Hilfiger group bought 50% stake in JV Arvind Murjani brands. Tommy Hilfiger seeks to grow in India via acquisition of direct interest.
New listing: TD Power Systems surged 10% to Rs 283 as against issue price of Rs 256 a share.
Midcaps
SKS Microfinance has been locked at 5% upper circuit for fourth consecutive session. Madras Cements, Infotech Enterprises, Gujarat NRE Coke and Thermax were up 4-5%.
However, SpiceJet, Motherson Sumi, Anant Raj Industries, Eicher Motors and Manappuram Finance fell 3-5%.
At 11:14 hours IST : Sensex directionless; Wipro, Ranbaxy top gainers
The market was directionless in trade following mixed Asian cues. On the one side, technology and healthcare stocks were quite supportive. Meanwhile, profit booking in Reliance Industries, NTPC and Bharti Airtel (which fell 1%) has capped the upside. Banking majors like SBI and ICICI Bank were playing a key role in volatility.
The 30-share BSE Sensex was trading at 17,102, up 37 points and the 50-share NSE Nifty moved up 9 points to 5,133. The BSE Midcap and Smallcap indices went up 0.6% each.
Among largecaps, Ranbaxy Labs and Wipro were top gainers - jumped 4-5%. Infosys, Cairn India, HCL Tech, TCS and Sun Pharma climbed 2-2.5%. Cipla rose 1.6%.
However, Jaiprakash Associates, which rallied 8% yesterday, fell 1.75%. Bajaj Auto, HDFC Bank, Tata Power, Bharti Airtel, SAIL, Ambuja Cements and GAIL were down 0.8-1.5%.
In the midcap space, Madras Cements, Gujarat NRE Coke, Thermax, SKS Microfinance and Rei Agro rallied 5-7%. However, Anant Raj Industries, Motherson Sumi, Godrej Properties, Zuari Inds and MVL fell 2-3.5%.
In the smallcap space, Hindustan Dorr-Oliver shot up 15%. Hanung Toys, Sasken Communications, Allied Digital and Andrew Yule were up 10-11%.
However, Bhansali Engg plunged 20%. Sudarshan Chemical, Lloyds Metals, Dion Global and Shree Ram Urban slipped 5-7%.
New listing: TD Power Systems shot up 10.55% to Rs 283 a share.
About 1529 shares advanced as against 814 shares declined on the BSE.
At 10:33 hours IST : Sensex consolidates; broader indices outperform
Indian equity benchmarks continued to trade flat amid extreme volatility. The market remained in the vicinity of previous closing values and was waiting for a trigger to move in either direction. The 30-share BSE Sensex was trading at 17,108, up 43 points and the 50-share NSE Nifty was trading at 5,137, up 12 points.
However, the broader indices outperformed benchmarks - the BSE Midcap and Smallcap indices went up over 0.5%. About two shares gained for every share lost.
Technology stocks were on buyers' radar today; TCS, Infosys, Wipro and HCL Tech rallied 2-4%.
Healthcare companies too were witnessing buying interest - Sun Pharma and Cipla rose 1.5-2%. Ranbaxy Labs shot up 5% as Daiichi Sankyo Ranbaxy will start US generic Lipitor sales by November as expected.
Some banking stocks too bounced back with marginal gains. Cairn India rose 2.5% on the back of rise in crude oil prices.
Among other largecaps, BHEL, DLF, Tata Motors, Sterlite, Maruti, Siemens, ACC and Grasim gained 1%.
However, the sell-off in heavyweights Reliance Industries, HDFC Bank, NTPC and Bharti Airtel has limited the upside; these stocks fell 0.5-1%.
JSPL, SAIL, Bajaj Auto, Tata Steel, L&T, HDFC, Jaiprakash Associates, Ambuja Cements and Power Grid too were down.
