| The Sensex continued its downtrend for the third consecutive session and ended lower. Capital goods, realty, private banking and select power stocks dragged the markets down. Heavyweights Reliance Industries, Bharti, ONGC and ITC also added some pressure. However, oil marketing companies outperformed the other largecaps. Buying in select pharma and technology shares along with HUL, Hero Honda and Reliance Communication (shot up 5%) capped the losses. Overall, it was a consolidation day, after the Nifty retracing at 4700 in last two days. The 50-share NSE Nifty fell 0.37% or 17 points, to settle at 4608.35, after witnessing a swing of 74 points between a day's high/low of 4650.45 and 4576.60. The 30-share BSE Sensex saw a swing of 235 points between an intraday high of 15,628.10 and low of 15,392.68, before closing at 15,467.46, down 0.54% or 83.73 points. The broader indices also slipped in line with the benchmark indices, down 0.3-0.7%. The markets fell on the back of weak global cues. At the time of closing of Indian equities, European markets were down 0.5%. Asian markets ended weak barring Shanghai. Nikkei lost 2.4%. Hang Seng & Jakarta were down 1.8% each. Straits Times and Kospi declined 0.6-1%. However, Shanghai gained 1.2%. The US markets had tumbled 2% each on Tuesday on the back of likely another bank default. Deven Choksey of KR Choksey Securities said,"One of the main issue that is driving down the market whenever it tries to go up, is the threat of dollar appreciating against rupee and the rupee depreciating below 49 is making some people nervous that it’s not a good time to bring money into the market. And that is one of the reasons for which at higher level we are seeing the kind of offloading into the market." Continued on the next page... _PAGEBREAK_ He said the Nifty may range between 4,550 and 4,750 and only when it breaks above this level probably the markets would see further upside. Vijay Bhambwani, CEO of bsplindia.com said he would watch the 4,350-4,400 band very closely as a fairly strong support at this point in time. In the realty space, HDIL, Indiabulls Real, Orbit Corporation, Omaxe, Unitech and DLF were down 1-4%.
In the oil & gas space, HPCL, Essar Oil and BPCL were up 5.4-6.4%. IOC rose 3.44% and GAIL up 1.70%. However, Cairn India, Reliance Industries and ONGC lost 0.4-0.6%. In the telecom pack, Bharti Airtel was down 2.13% while Reliance Communication surged 4.56%. Banking stocks like Bank of Baroda, ICICI Bank and Kotak Mahindra slipped 1-2.5%. PNB, HDFC Bank and Axis Bank fell 0.2-0.8%. In the FMCG space, Godrej Consumer, United Spirits, ITC and Britannia were down 0.5-1.5%. However, Dabur India gained 3.6% and HUL up 2%. In the healthcare space, Glenmark, Ranbaxy Labs, Sun Pharma and Cipla were up 0.8-1.5% while Wockhardt, Lupin, Biocon and Dr Reddys Labs fell 0.7-1.4%. Technology stocks like HCL Tech, TCS and Infosys went up 1-3.6% while Tech Mahindra and Wipro fell 0.8-1.3%. In the auto pack, Bajaj Auto, Maruti Suzuki and M&M slipped 2-4% while Hero Honda gained 1.4%. Metal stocks like NALCO, Sterlite Industries, Sesa Goa and JSW Steel fell 1-3.6%. However, Jindal Steel, Hindustan Zinc and SAIL went up 0.6-3%. The market breadth was negative; about 1,222 shares advanced while 1,660 shares declined. Nearly 305 shares remained unchanged. In the midcap space, Redington and Berger Paints were up 9-11%. P&G, Oriental Bank and Peninsula Land gained 4% each. However, Jagran Prakashan, BGR Energy, Gujarat NRE Coke, Amtek Auto and JM Financial fell 5-8.5%. In the smallcap space, Goodyear surged 19.5%. Gwalior Chemical, Balaji Telefilm, Timken and Greaves Cotton were up over 9% each. However, Foseco India, Emco, aurionPro Solutions, Entegra and Welspun India slipped 5-7%. Top percentage gainers - Todays Writing, Archies and Swiss Glascoat gained 20% each. Times Guaranty, Redington, Paper Products and Lincoln Pharma were up 9-14%. Total traded turnover stood at Rs 85,710.26 crore as against Rs 1,03,885.84 crore on Tuesday. This included Rs 16,804.37 crore from the NSE cash segment, Rs 63,487.76 crore from the NSE F&O and the balance Rs 5,418.13 crore from the BSE cash segment. Continued on the next page... _PAGEBREAK_ Nifty rangebound; Bharti, BHEL, Sterlite, Maruti, NTPC dip At 15:03 hours IST, the Nifty was rangebound at 4,605-4,645 while the Sensex was trading between 15,500-15,600. The Nifty was still holding the 4600 mark despite weak global cues; European markets were down 0.5%. The broader indices were also quiet in trade. Shares of private banking, capital goods, realty and auto (four wheeler) were under pressure. Bharti Airtel, BHEL, NTPC, Sterlite, ICICI Bank, Maruti, DLF, Grasim and Tata Power were the draggers. However, buying continued in Reliance Communication (up 5%), TCS (up 1.8%), Jindal Steel (up 3.5%), Infosys, HUL (up 2%), BPCL (up 6%), Reliance Capital (up 4%), HCL Tech (up 4%), Hero Honda (up 2.6%), SAIL, GAIL, Power Grid, Sun Pharma, Suzlon Energy and Ranbaxy Labs. The Sensex fell 47 points, to 15,503 and the Nifty lost 7 points, to 4,617. The broader indices were also marginally weak. About 1227 shares advanced while 1642 shares declined on the BSE. Nearly 318 shares were unchanged. Top percentage gainers - Goodyear, Todays Writing and Archies were up 20% each. Swiss Glascoat, Dai-Ichi Karkar, Greaves Cotton, EIH Associated Hotel and Redington went up 10-18%. Top percentage losers - Gremach Infra, Punj Alkalies, NK Industries, Delton Cables, Jagran Prakashan, Roman Tarmat, BGR Energy, MRO-TEK and Amtek Auto lost 5-10%. Sensex extremely choppy; RComm, BPCL up 5%, Bharti dips 2% At 13:58 hours IST, the Sensex was extremely volatile in trade and was hovering around its previous closing value. Selling continued in capital goods, metal, auto (four wheeler), realty, cement and private banking companies' shares. Heavyweight Bharti Airtel was down 2%. However, technology, FMCG, oil marketing and select pharma companies' shares were witnessing buying interest. Reliance Communication surged 5% and Hero Honda rose 2.7%. The Sensex was down 7 points, to 15,543 while the Nifty gained 1.5 points at 4,627. About 478 shares advanced while 761 shares declined on the NSE. The broader indices were marginally weak. On the global front, European markets were down around 0.7-0.9%. In the midcap space, Berger Paints, Redington, P&G, HCL Info and Bombay Rayon went up 3.5-9% while JM Financial, IRB Infra, Gujarat NRE Coke, Indiabulls Real and Jagran Prakashan fell 4-5%. In the smallcap space, Goodyear, EIH Associated Hotel, Balaji Telefilm, Fresenius Kabi and Brigade Enterprises gained 7-15%. However, Money Matters, Sarda Energy, Emco, Entegra and KPIT Cummins were down 5-7%. Reliance Capital, Unitech, Aban Offshore, DLF, Mahindra Satyam and Reliance Industries were most active shares on the bourses. Nifty volatile; IT, oil mkting, FMCG up, cap goods dip At 12:46 hours IST, the Nifty continued to trade with volatility. The markets were hovering around their previous closing values. Shares of technology, FMCG, pharma and oil marketing companies were trading higher. Reliance Communication (leading counter), ONGC, Hero Honda, SBI and Suzlon Energy were the other gainers. However, selling continued in metal, private banking, cement and realty stocks. BHEL, Reliance Industries, Bharti, NTPC, Maruti, Cipla, ABB and Idea were the losers. The Sensex rose just 7 points, to 15,558 and the Nifty gained 6 points at 4,631. About 599 shares advanced while 698 shares declined on the NSE. In the technology space, HCL Tech, TCS and Infosys were up 1-2.3. Wipro was up 0.36%. FMCG stocks like Dabur India, HUL and Nestle gained 1-3%. ITC and Marico were up over 0.6%. In the pharma space, Aurobindo Pharma, Ranbaxy Labs, Glenmark, Dishman Pharma, Sun Pharma and Lupin went up 0.8-1.5%. However, metal stocks like NALCO, Sterlite Industries, JSW Steel, Sesa Goa and Jindal Saw were down 1-4%. SAIL and Tata Steel lost over 0.4%. In the capital goods space, BHEL was down 1.95%. ABB and L&T fell 0.5-1%. In the oil & gas space, HPCL and BPCL jumped 5-6%. GAIL, IOC and Cairn India were up 1-3.7%. ONGC rose 0.71%. However, Reliance Industries lost 0.5%. Sensex consolidates; RComm, TCS, Infy, Hero Honda lead At 11:27 hours IST, the Sensex was consolidating at current levels after two weak days. Weak Asian markets were keeping the markets under pressure to some extent but the Nifty was still holding 4600. Capital goods stocks along with Reliance Industries, Bharti Airtel, Nalco, ICICI Bank, Sterlite, Maruti, NTPC, SAIL, HDFC, Tata Power, ABB, Grasim, PNB, Tata Steel and M&M were witnessing selling pressure. However, buying continued in Reliance Communication, Infosys, ITC, Hero Honda, BPCL, SBI, HUL, Sun Pharma, DLF, Ranbaxy Labs, Tata Motors and Hindalco. The Sensex and Nifty were trading just near to their previous closing values of 15,551 and 4625.35, respectively. The market breadth was negative; about 1228 shares advanced while 1597 shares declined on the BSE. Nearly 361 shares were unchanged. Top percentage gainers - Vimal Oils, Todays Writing, Nahar Capital, Berger Paints, Hariyana Ship, Subros and Times Guaranty were up 10-18%. Top percentage losers - Gremach Infra, Hardcastle, Delton Cables, Gemstone Investment, Morarjee Textile, Tinplate, Indiabulls Retail, Shasun Chemical and Austral Coke were down 5-10%. Unitech, Mahindra Satyam, Reliance Capital, Aban Offshore, NHPC and DLF were most active shares on the bourses. Nifty recovers amid volatility; broader indices gain At 10:22 hours IST, the Nifty managed to recover its early losses and was trading with volatility. Reliance Communication, DLF, SBI, Hero Honda, NTPC, M&M, Ranbaxy, Sun Pharma, BPCL, HUL, Suzlon Energy, Idea and Axis Bank were the gainers. However, selling was seen in Bharti, ONGC, ICICI Bank, Wipro, Sterlite, L&T, HDFC Bank, ITC, Tata Power, Unitech, Cipla, Grasim, Nalco and ABB. BHEL, Reliance Industries, TCS, Infosys and HDFC were flat in trade. The Sensex was at 15,550 and the Nifty at 4625, both at yesterday's closing level. However, the broader indices were outperforming the benchmark indices, up 0.5% each. The market breadth was positive; about 1521 shares advanced while 1286 shares declined. Nearly 379 shares were unchanged. In the midcap space, Berger Paints shot up 11.74%. Blue Dart, Alfa Laval, TV18 and HCL Info gained 4-7%. However, Koutons Retail, Sintex India, JM Financial, Shriram Transport and Atlas Copco fell 1.5-2.6%. In the smallcap space, Delta Corp, Forbes Gokak, FAG Bearings, Century Plyboard and Satra Properties went up 6-8%. However, Austral Coke locked at 5% lower circuit. Money Matters, English India Clays, Zodiac Clothing and KPIT Cummins lost 3-4.5%. Top percentage gainers - Rasi Electrodes, Todays Writing, El Forge, Span Diagnostic, Subros, Nahar Capital and Delta Corp were up 8.5-18.5%. Sensex slips on weak global cues; metals decline The Sensex opened lower for the third consecutive day on weak global cues. It showed some recovery but was still volatile in trade. The Nifty was hovering around the 4600 mark. Realty, metal, capital goods and select banking stocks were under selling pressure. At 9:57 am, the Sensex fell 99 points, to 15,451 and the Nifty was down 32 points, to 4,592. The CNX Midcap lost 30 points, to 6,021. About 462 shares advanced while 404 shares declined on the NSE. Among the frontliners, ICICI Bank, Sterlite, ABB, SAIL, Nalco, Unitech, DLF, Unitech, Tata Communication, Tata Steel, HDFC Bank, L&T and BHEL were the losers. However, Ranbaxy Labs, Hero Honda, Reliance Power, Maruti, M&M, Reliance Communication, Reliance Capital and Suzlon Energy were the gainers. Newly listed NHPC slipped below its issue price of Rs 36 but recovered and was trading marginally above its issue price. Midcap space: SEBI unearthed Rs 1,000 crore scam at Austral Coke, which locked at 5% lower circuit. Another group company, Gremach Infra also locked 10% lower circuit. Mahindra Satyam lost 1%, as its ADR was down 9%. However, Maytas Infra locked at 5% upper circuit. Tech Mahindra was up 0.8%.. Berger Paint up 4%, as Asian Paints will divest entire stake in subsidiary Berger Paints (China). Ansal Properties was down 3%. Global Cues: Asian markets were trading lower barring Shanghai. Nikkei fell 2.8%, Hang Seng down 1.8%, Jakarta down 2.25, Straits Times down 1.22% and Kospi down 0.6%. Taiwan was flat while Shanghai was up 0.5%. The US markets slipped for the third day on speculation of another bank default. The market shrugged off first growth in manufacturing since January 2008 and highest level of pending home sales since June 2007. Financial took hit as brokerages question 100-200% rally in these stocks in the month of August. Nearly 95% of the companies in the S&P 500 ended in the red. The Dow Jones Industrial Average ended down 186 points or 2% at 9,310. The Nasdaq Composite was down 40 points or 2% at 1,967 and S&P 500 was down 22.5 points or 2.2% at 998. Commodities: The CRB Commodity Index ended down 2%. It was trading up 0.7% in the opening trade. Crude oil ended down 2.7% at $68/bbl. It was trading up 2% in the opening trade. Gauge of six metals in London fell 3.6%, most since July 8. Gold was up 0.3% at $956.5/ounce. Market cues: -FIIs net sell USD 17.6 million in equity on August 31 -MFs net sell Rs 87.3 crore in equity on August 31 -NSE F&O Open Int up Rs 3,534 crore at Rs 75,954 crore on August 31 -FIIs net sell Rs 636 crore in cash markets on September 1 (prov) -DIIs net buy Rs 367 crore in cash markets on September 1 (prov) -FIIs net buy Rs 1137 crore in F&O on September 1 F&O cues: -Futures Open Int up Rs 397 crore -Options Open Int up Rs 3137 crore -Nifty down 0.8%, Open Int up 9% -Nifty Fut at 2-pt discount versus 11-pt premium -India VIX up 1.3% at 34.98 -Nifty IVs at 32-35% -Nifty Open Int Put Call Ratio at 1.17 versus 1.24 -Nifty Puts add 21 lakh shares in Open Int -Nifty Calls add 36 lakh shares in Open Int -Nifty 4800 Call adds 14 lakh shares in Open Int -Nifty 4700 Call adds 11.3 lakh shares in Open Int -Stock Futures shed 2.2 cr shares in Open Int | ||||||||||||||||||||||||||||||||||||||||||
Wednesday, September 2, 2009
Sensex drops for 3rd straight day; oil mkting outperform
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