he Nifty closed the last day of August series on a flat note after seeing huge volatility throughout the session. It crossed the 4700 mark during the day but closed well below that level. It was the sixth consecutive day of positive closing for the markets.
Capital goods, pharma, and select technology stocks were supportive while private banking and power counters were draggers. There was a mixed trend in realty, FMCG, telecom and auto stocks.
The equity benchmarks started on a weak note following weak Asian cues but did not extend the losses. They remained rangebound for the whole day and did not show any significant move on either side. Among the Asian markets, Nikkei lost 1.5%; Shanghai, Jakarta, Hang Seng, Kospi and Taiwan Weighted fell 0.4-1% while Straits Times was up 0.5%. European markets and the US index futures were flat in trade at the time of closing of Indian equities.
The 30-share BSE Sensex closed at 15,781.07, up 11.22 points, after seeing an intraday high of 15,853.71 and low of 15,685.49. The 50-share NSE Nifty went up just 7.35 points, to settle at 4,688.20. It touched a day's high/low of 4707.90 and 4645.15, respectively. Both indices ended 2.55% higher in the August series.
Commerce Minister unveiled the Foreign Trade Policy today. There was not any big announcement in the policy barring small benefits for textile and diamond industries. He said the policy would continue with DEPB (Duty Entitlement Pass Book) scheme for exporters and continue with section 10A benefit for IT sector exports. (Also Read - Exporters hail 'aggressive, long-term' trade policy)
He has also introduced new measures like the zero-duty Export Promotion Capital Goods (EPCG) scheme. The special thrust would be given to employment oriented export units and was aiming $200 billion export by March 2011, he said.
Diamond and jewellery related stocks like Renaissance Jewellery and Shrenuj and Company shot up 10% and 20%, respectively. Gitanjali Gems, Goldiam International, Rajesh Exports, Su-raj Diamonds and Vaibhav Gems were up 5-8.5%. Titan Industries was up 3%. Textile stocks like Arrow Textiles surged 19%. Bombay Dyeing, Welspun India and Alok Industries gained 3.5-7%.
Nitin Raheja, CIO at Rada Advisors said the underlying strength in the market was quite strong. "I won’t be surprised that we enter the next series breaking that critical 4,700 mark in the near-term", he said.
Continued on the next page... _PAGEBREAK_
India's largest steel maker, Tata Steel has announced Q1FY10 consolidated numbers, which were quite disappointing; the stock lost over 5%. The company's net sales has come down 47%, to Rs 23,180 crore and it reported a consolidated net loss of Rs 2,200 crore for the quarter.
Capital goods, pharma, and select technology stocks were supportive while private banking and power counters were draggers. There was a mixed trend in realty, FMCG, telecom and auto stocks.
Volumes were quite high as it was a expiry day; total traded turnover stood at Rs 1,19,172.38 crore as against Rs 1,04,447.93 crore on Wednesday. This included Rs 20,781.78 crore from the NSE cash segment, Rs 91,809.58 crore from the NSE F&O and the balance Rs 6,581.02 crore from the BSE cash segment.
Index | Closing Value | Chg (%) |
| CAP GOODS | 13,179.90 | 1.16 |
| PHARMA | 3,940.43 | 1.13 |
| TECk | 3,091.98 | 0.62 |
| SMALLCAP | 6,907.06 | 0.42 |
| MIDCAP | 5,822.50 | 0.38 |
| IT | 4,286.01 | 0.32 |
| POWER | 2,986.24 | 0.28 |
| AUTO | 5,743.59 | 0.25 |
| OIL&GAS | 9,837.61 | 0.12 |
| FMCG | 2,597.58 | 0.01 |
| REALTY | 4,132.19 | -0.26 |
| BANKEX | 8,310.62 | -0.57 |
| METAL | 12,566.52 | -0.88 |
Pharma stocks like Piramal Health, Cipla, Dishman Pharma, Apollo Hospital, Ipca Labs, Wockhardt, Ranbaxy Labs and Glenmark gained 0.7-4.6%.
In the technology space, HCL Tech and Wipro went up 2-3.5%. Infosys was up 0.39% while TCS fell 0.67%. Telecom stocks like Bharti Airtel shot up 2.74%, as DowJoneswire sources told CNBC-TV18 that Bharti offered MTN group $13.1 billion for 49% stake. However, Reliance Communication and Tata Teleservices fell 1-1.5%.
In the realty space, Parsvnath, Ackruti City, Sobha Developer, Unitech and Omaxe gained 2-4% while Indiabulls Real and DLF declined 1.7-3%.
Auto stocks like Bharat Forge, Ashok Leyland, M&M, Apollo Tyres, Bajaj Auto and Maruti Suzuki were up 0.6-4% while Tata Motors and Hero Honda fell 1.8-2.55%.
In the FMCG pack, United Spirits surged 6%. ITC was up 0.63%. However, Dabur India, HUL, Marico, United Breweries, Colgate and Tata Tea were down 1-2.5%.
Banking stocks like SBI gained 0.61% while ICICI Bank, PNB, Axis Bank and Bank of Baroda slipped 1-1.4%.
In the metal space, NALCO, Sterlite Industries and Jindal Steel went up 0.9-2.8% while Hindustan Zinc, Sesa Goa, JSW Steel, Jindal Saw and Hindalco fell 1-2.6%.
The broader indices closed 0.4% higher. The market breadth was positive for the whole day; about 1,686 shares advanced while 1,179 shares declined on the BSE. Nearly 318 shares remained unchanged.
In the midcap space, GMDC, Videocon Industries, Info Edge, Anant Raj Industries and GSK Consumer were up 7-15.5% while Patni Computer, Nava Bharat Ventures, Shriram Transport, Torrent Pharma and Motherson Sumi declined 4.5-5%.
In the smallcap space, Zuari Industries, Hatsun Agro, Shoppers Stop and Radico Khaitan gained 10.5-13%. However, Oscar Investment, Agro Tech Foods, Allied Digital, Ruby Mills and Pennar Inds were down 6-8.6%.
Markets in August Series
Sensex and Nifty surged 2.55% in the August series. Among the broader indices, Midcap Index was up 3.2% and Small Cap Index up 11.4%.
On the sectoral front, the BSE Realty Index went up 4.5% and Oil & Gas Index up 6.7%.
Among the largecaps, Tata Motors surged 26%. HCL Tech and Ranbaxy shot up 23% each. Nalco, Wipro and Hindalco were up 14% each. Cairn rose 10%.
On the next page - see how Indian markets performed in the last one hour _PAGEBREAK_
Sensex lacklustre; ICICI Bank, HUL, DLF, RComm, HDFC slip
At 14:38 hours IST, the Sensex continued to witness volatility. Buying in heavyweights like Bharti, ONGC, NTPC, SBI, L&T, Wipro and ITC was helping the indices to stay on the higher side. Nalco, Cipla, Tata Power, HCL Tech, Sun Pharma, M&M, Siemens, Ranbaxy and Ambuja Cements were the other gainers. Reliance Industries was volatile in trade.
However, relentless selling in ICICI Bank, Reliance Communication, HUL, HDFC, DLF, Tata Motors, Hero Honda, Tata Steel, HDFC Bank, TCS, SAIL, Suzlon, Axis Bank and Reliance Power capped the gains.
The Nifty fell 5 points, to 4,676 and the Sensex lost 25 points, to 15,744. About 774 shares advanced while 484 shares declined on the NSE.
Aban Offshore, Hindustan Oil Exploration, Mahindra Satyam, United Spirits, Reliance Capital, Unitech, Tata Steel and Reliance Industries were most active shares on the bourses.
In the midcap space, GMDC, Info Edge, Sintex India, Videocon Industries and Bombay Rayon gained 5.5-8% while Torrent Pharma, Shriram Transport, Rolta, Nava Bharat Ventures and UTV Software fell 4-7%.
In the smallcap space, Shrenuj and Company, ESS DEE, Hatsun Agro, Shoppers Stop and Zuari Industries went up 10-15.5%. However, Pennar Industries, Geojit BNP, Ruby Mills, ABG Infralogistics and Oscar Investment lost 5-6.5%.
Nifty hovers around 4700; Bharti, RIL, Wipro lead
At 13.37 hrs IST, the Nifty was hovering around the 4700 mark with gains of around 20 points. Bharti Airtel, Reliance, Wipro, ONGC, NTPC, Infosys, L&T and ITC were the positive contributor to the bourses. Buying interest was seen in pharma, capital goods, oil & gas, power and IT stocks while realty, banks and metal stocks witnessed selling pressure.
The Sensex was up 54.63 points or 0.35% at 15824.48, and the Nifty was up 20 points or 0.43% at 4700.85.
About 1858 shares advanced, 989 shares declined, and 336 shares were unchanged.
Ambareesh Baliga of Karvy Stock Broking said he was conservative on IT stocks and that one could hold those to sell in case of a further upmove. He was negative on commodities — metals and sugar.
Top gainers on the Sensex were Bharti Airtel at Rs 420.55 up 3.74%, Wipro at Rs 568.05 up 1.94%, Tata Power at Rs 1,358.10 up 1.78%, L&T at Rs 1,595 up 1.25% and NTPC at Rs 212.50 up 1.12%.
The BSE midcap and smallcap indices were up 0.95% and 1.39% respectively.
Top gainers on the BSE Midcap - Info Edge, Guj Mineral, Videocon Indust, Bombay Rayon and Sintex India
Top gainers on the BSE Smallcap - Shrenuj and Co, Shoppers Stop, ESS DEE, Zuari Inds and Atoll were up 10-17%.
However, top losers on the Sensex were Tata Motors at Rs 491.70 down 1.39%, HUL at Rs 259.45 down 1.26%, HDFC at Rs 2,487.05 down 1.01%, Tata Steel at Rs 455.40 down 1.01% and ICICI Bank at Rs 753.45 down 1.01%.
Index heavyweight Hindustan Lever was trading at Rs 259.45 down 1.26% from its previous close of Rs 262.75.
Nifty touches 4700; Bharti, Wipro, RIL, ONGC, SBI supportAt 12:40 hours IST, Nifty touched the 4700 mark on the back of support from Bharti Airtel, Wipro, ONGC, Reliance Industries, SBI, L&T and Infosys. DowJoneswire sources told CNBC-TV18 that Bharti offered MTN group $13.1 billion for 49% stake, due to which Bharti shot up 3%.
The Sensex was up 60 points, to 15,830 and the Nifty up 21 points, to 4,702. Positive European cues were also supportive to our markets.
NTPC, Cipla, Tata Power, BHEL, Power Grid, Sun Pharma, Ambuja Cements, ACC, Sterlite, SAIL, M&M, Ranbaxy and PNB were other gainers.
However, selling continued in ICICI Bank, HUL, HDFC, HDFC Bank, DLF, Reliance Communication, Tata Steel, Tata Motors, Hero Honda and Suzlon Energy.
Among the broader indices, the BSE Midcap Index rose 0.9% and Smallcap Index up 1.5%. About 1,886 shares advanced while 969 shares declined on the BSE. Nearly 328 shares were unchanged.
Top percentage gainers - Omnitech Info, R Systems International, Shrenuj and Company, IVP, Radico Khaitan and Zuari Industries were up 13-17%.
Top percentage losers - Shri Baj Alloys, TCPL Packaging, Invest and Precision, IFGL Refractory, Hydro SandS, Lotus Eye Care, WS Industries, HOEC and Action Construction lost 5-9%.
Mcnally Bharat Engineering locked at 5% upper circuit as it bagged orders worth Rs 179 crore.
Nagarjuna Construction has bagged three orders worth Rs 311 crore. The stock was up 1.3%.
Sensex quiet; Bharti, Wipro, SBI lead, ITC, ICICI Bank dip
At 12.00 pm, the Sensex was quiet in trade. Both the equity benchmarks were trading near their previous closing values. The Nifty was trying to move towards the 4700 mark but selling at higher levels was putting pressure.
However, the broader indices were on the higher side, as the breadth was positive with about 846 shares advanced while 385 shares declined on the NSE.
Leading counters were Bharti Airtel, Wipro, SBI, Infosys, L&T, TCS, HCL Tech, Cipla, Sun Pharma, Tata Power, Ambuja Cements, Nalco, M&M, Siemens and ACC.
However, negative contributors were FMCG and realty stocks; ICICI Bank, HDFC, Reliance Communication, Tata Steel, Tata Motors, Hero Honda, HDFC Bank, Reliance Infrastructure, Suzlon and Hindalco.
The Sensex rose 22 points, to 15,791 and the Nifty gained 9.5 points at 4,690. Among the broader indices, the BSE Midcap Index was up 0.5% and the Smallcap Index up 1.3%.
Commerce Minister, Anand Sharma announced foreign trade policy today. He said the policy would continue with DEPB (Duty Entitlement Pass Book) scheme for exporters and continue with section 10A benefit for IT sector exports. He announced zero duty EPCG (Export Promotion Capital Goods) scheme for exporters. The special thrust would be given to employment oriented export units and was aiming $200 billion export by March 2011, he said.
Export related stocks like Arrow Textile shot up 20%; S Kumars Nationwide, Gitanjali Gems, Bombay Dyeing, Welspun India, Vaibhav Gems, Titan Industries, Renaissance Jewellery and Alok Industries were up 3-5%.
Nifty consolidates; RIL, ICICI Bank, ITC, HUL, DLF dip
At 10:35 hours IST, the Nifty was witnessing volatility. Reliance Industries, ITC, ICICI Bank, L&T, HDFC, DLF, HUL , HDFC Bank, Reliance Communication, Tata Steel, Hero Honda, Tata Motors, Reliance Infrastructure, Unitech and Hindalco were witnessing selling pressure.
However, buying continued in Bharti Airtel, Wipro, TCS, Infosys, BHEL, SAIL, Cipla, Sun Pharma, Ambuja Cements, ACC and Maruti Suzuki.
The Sensex was down 15 points, to 15,754 and the Nifty fell 5 points, to 4,675. However, about 838 shares advanced while 212 shares declined on the NSE. Among the broader indices, the BSE Midcap Index rose 0.6% and the Smallcap Index up 1.4%.
In the midcap space, GMDC, IRB Infra, Ackruti City, Videocon Industries and HOEC were up 5-8% while Phoenix Mills, Indiabulls Real, Shriram Transport, HCL Info and Puravankara Projects lost 2.5-5%.
In the smallcap space, Rajesh Exports, Banco Products, Radico Khaitan, Jyothy Labs and Dalmia Cement gained 7.5-11.6% while
Geojit BNP, JMD Telefilms, Action Construction, Indraprastha and Indo Rama Synthetic fell 3-5%.
Media stocks - HT Media, Jagran Prakashan, TV18, NDTV, UTV Software, Deccan Chronicle, Sun TV Network and Zee News were up 1-3%. Zee Entertainment and IBN18 Broadcast went up just 0.5-0.8%.
Sensex volatile with negative bias; Bharti, Wipro, TCS up
The Sensex started the settlement day on a weak note following negative Asian cues. Consolidation continued in today's trade as well. Fall in base metals also impacted the steel stocks in the early trade.
At 9:58 am, the Nifty was down 16 poitns, to 4,664 and the Sensex fell 52 points, to 15,717. The broader indices were flat in trade. About 504 shares advanced while 244 shares declined on the NSE.
Among the frontliners, Tata Steel (ahead of Q1FY10 consolidated numbers), Ranbaxy Labs, Tata Motors, Hindalco, Unitech, ICICI Bank, PNB, Reliance Industries, ITC, Hero Honda, L&T, Siemens and Nalco lost ground.
However, Wipro and TCS were up over 1% post receiving British Petroleum order. Bharti Airtel, Cipla, Cairn India, Ambuja Cements and ACC were the other gainers.
Midcap space
Textile stocks like Alok Industries and Arvind continued their rally, up 3% each.
KPIT Cummins was up 5% in the technology space. Suven Life Sciences was up another 6% after seeing upper circuits for last three days.
Marksans Pharma and Shasun Chemical went up 5% each. JM Financial up 5% post block deal.
However, Indiabulls Real lost 5%. HDIL and Ansal Properties were down 1% each.
Global cues:
Asian markets were trading weak. Nikkei fell 2.2%. Hang Seng, Jakarta and Kospi were up over 1%. Shanghai, Straits Times and Taiwan Weighted lost 0.3-0.4%.
The US markets ended flat despite strong new home sales and durable goods orders. Commodities traded weak post China's comment.
The Dow Jones Industrial Average was up only 4.23 points or 0.04% at 9,543.52, but it was enough to extend the Dow's winning streak to seven straight sessions.
The S&P 500 Index ended at 1,028.12, up 0.12 points or 0.01% and the Nasdaq Composite gained 0.20 points or 0.01% at 2,024.43.
Commodities
The Reuters CRB (Commodity Research Bureau) declined 0.8%.
Crude declined 0.9% at $71.43/bbl.
US inventories increased. Markets were estimating a decline.
Base metals declined; Aluminium down 2%, Nickel down 1.5% and Tin down 4%.
Lead made 1-year high at $2129, settled at $2050/tonne
Market cues:
-FIIs net sell USD 11 million in cash on August 25
-MFs net buy Rs 423 crore in cash on August 25
-Total F&O Open Int up by Rs 1578 crore at Rs 93,960 crore
-FIIs net buy Rs 379 crore in cash on August 26 (prov)
-DIIs net buy Rs 129 crore in cash on August 26 (prov)
-FIIs net buy Rs 435 crore in F&O on August 26
F&O cues:
-Total Futures Open Int up by Rs 1350 crore
-Total Options Open Int up by Rs 228 crore
-Nifty up 0.5%, Futures Open Int up 3%
-Nifty September Fut trading at 9-pt prem versus 10-pt prem
-Stock Futures add 2.3 crore shares in Open Int
-Nifty Open Int Put Call Ratio up from 1.25 to 1.31
-Nifty Puts add 11.5 lakh shares
-Nifty Calls shed 9.7 lakh shares
-Nifty implied volatility at 32-36% levels
-Nifty Sept 4700 Put adds 3.5 lakh shares in Open Int
-Nifty Sept 4600 adds 3.2 lakh shares in Open Int
-Nifty Sept 4400 Put adds 2.8 lakh shares in Open Int
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