The Sensex and the Nifty closed at new 15-month highs today on the back of support from heavyweights and positive global cues. ICICI Bank, HDFC, Reliance Communication, Bharti Airtel, SBI, TCS and DLF were the leaders, up 2.3-6.6%. Tata Motors surged 11.32%.
The Nifty started the day above the 4,700 mark following good Asian and US cues. As the day proceeded and post the Europe opening, it gained more strength in the second half of the trade. At the time of closing of Indian markets, European markets were up 1.4% each. Asian markets also ended 0.7-1.5% higher.
Top percentage gainers
Equity
Closing Value
Change
Tata Motors Rs 565.75 11.32%
Reliance Comm Rs 311.60 6.62%
ICICI Bank Rs 788.80 6.01%
Jaiprakash Asso Rs 230.75 5.99%
Sterlite Ind Rs 706.50 5.38%
Unitech Rs 115.10 7.72%
Jindal Steel Rs 3,506.75 6.86%
Reliance Comm Rs 312.00 6.83%
BPCL Rs 595.75 6.59%
The 30-share BSE Sensex touched a new 2009 high of 16,035.50, before closing at 16,016.32, up 327.20 points or 2.09%, over its previous close. The 50-share NSE NSE Nifty surged 2.19% or 102.50 points, to settle at 4782.90, after seeing a high of 4790. The equity benchmarks gained 108.32% and 112.31% from its 52-week low of 7,697.39 and 2,252.75, respectively.
Sudarshan Sukhani of Technical Trends said the markets could surprise and could certainly go higher than 5,000. "The PE on the NSE website is 22 plus but blowouts happen because of momentum. And I would be very surprised if we don’t touch 5,000 in September," he said.
"There is a very large head and shoulder pattern which is getting confirmed today. This was resistance at 4,740-4,760 level which is multi month; it is not the smaller one which we are seeing now. Now the pattern is that once that resistance is broken and the pattern is confirmed, we are looking at 7,200. The markets can surprise us and can certainly go higher than 5,000", he added.
Samir Arora, Fund Manager, Helios Capital said the markets were likely to be rangebound for a while but said he saw an upside soon and had a bias towards 5,000 rather than 4,000 on the Nifty by October. He added that he saw no reason for the markets to fall a lot. He expects midcap stocks to continue to do well, adding that valuations did not necessarily have to look cheap to buy.
However, Dipan Mehta, Member BSE, NSE said, "Unless we see further institutional buying coming in at new highs around 4,800 levels, and 16,000 levels; unless we see institutional buying coming in, my sense is that the markets would not have an extended upmove or maybe it would lose steam 50-100 points higher than these levels."
All the sectoral indices ended in green barring FMCG; the BSE Realty Index shot up 5.5%. Metal and Bank indices gained 3-3.5%. Auto and TECk indices went up over 2.3%.
The broader indices outperformed the benchmark indices, up 2.3-2.8%. The market breadth was strong; about 2,283 shares advanced while 625 shares declined on the BSE. Nearly 285 shares remained unchanged.
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In the realty space, Unitech was up 7.6% and DLF up 5%. Sobha Developer, HDIL, Indiabulls Real and Omaxe were up 4-6.7%.
Metal stocks like Jindal Steel, Sterlite Industries, JSW Steel, Hindalco, Tata Steel, Jindal Saw, Hindustan Zinc and SAIL gained 1.5-7%.
Index
Closing Value
Chg (%)
REALTY 4,533.36 5.49
METAL 12,989.46 3.95
BANKEX 8,603.92 3.1
SMALLCAP 7,189.47 2.83
AUTO 6,228.20 2.45
TECk 3,158.24 2.31
MIDCAP 5,967.77 2.31
CAP GOODS 13,209.76 1.7
OIL&GAS 9,930.00 1.51
PHARMA 3,917.11 1.47
POWER 2,974.18 1.39
IT 4,331.65 1.38
FMCG 2,587.17 -0.08
In the banking space, ICICI Bank surged 6.01%. SBI and Axis Bank were up 2.8% each. Bank of Baroda, HDFC Bank and PNB went up 0.7-1.4%.
Auto stocks like Tata Motors shot up 11.32%; Amtek Auto, Ashok Leyland, Bajaj Auto and Bharat Forge moved up 2.7-8.6%. Hero Honda, Apollo Tyres and Maruti Suzuki gained 0.6-1.4%.
In the telecom pack, Reliance Communication rose 6.62% and Bharti Airtel up 3.78%. Tata Teleservices, MTNL and Idea Cellular were up 1-3%.
Capital goods stocks like Siemens, Punj Lloyd, L&T and ABB went up 1-4%. BHEL was up 0.59%.
In the oil & gas space, IOC, HPCL and BPCL surged 6-9%. GAIL, Reliance Industries, ONGC and Cairn India were up 0.7-1.5%.
Pharma stocks like Biocon, Lupin, Dr Reddys Labs, Dishman Pharma, Wockhardt, Ranbaxy Labs, Sun Pharma and Aurobindo Pharma gained 1.4-4.5%.
In the power space, GMR Infra, Suzlon Energy, Tata Power, Reliance Power and Reliance Infrastructure were up 1.5-2.9%.
Technology stocks like TCS was up 3.5%; HCL Tech, Tech Mahindra, Infosys and Wipro moved up 0.5-2%.
In the FMCG pack, ITC lost 0.92% and Dabur India down 0.44%. However, Godrej Consumer, Marico, United Spirits and Colgate were up 2-3.6%. Tata Tea and HUL were up 0.3-0.5%.
In the midcap space, Kirloskar Brothers locked at 20% upper circuit. Bhushan, Phoenix Mills, Kirloskar Oil and Sun Pharma Advanced were up 11-15%. However, Kansai Nerolac, Shriram Transport, Motherson Sumi, Peninsula Land and MRF lost 1.8-2.9%.
In the smallcap space, Honda Siel, TV Today Network and India Glycols were up 14.6-19.7%. However, Austral Coke, JMD Telefilms, Fem Care Pharma, Sanghvi Movers and Shristi Infra declined 2.7-5%.
Top percentage gainers - Premier Energy, Liberty Phos, Resurgere Mines, Triton Valves, Mukand and Petron Engineering Construction surged 20% each. SEL Manufacturing was up 19.15%.
Volumes were on the lower side compared to previous session; total traded turnover stood at Rs 80,930.91 crore as against Rs 91,761.86 crore on Friday. This included Rs 17,385.08 crore from the NSE cash segment, Rs 57,490.85 crore from the NSE F&O and the balance Rs 6,054.98 crore from the BSE cash segment.
In the Europe, Cadbury, the world's second biggest confectionery group has declined a sweet takeover offer of $ 16.7 billion from North America's biggest food group Kraft.
Kraft Foods today said it had offered 300 pence in cash and 0.2589 new Kraft shares for each Cadbury share which corresponds to 42% premium over Cadbury's closing price on July 3.
FTSE gained 1.4% on the back of improved investor sentiment post rejection of this deal by Cadbury. Cadbury shares jumped 43% to 803 pence per share while Kraft closed the day at $ 28.10 on September 4.
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Sensex crosses 16000; Bharti, ICICI Bank, RComm lead
At 14:58 hours IST, the Sensex surged further and tested the 16,000 mark. Among the heavyweights - Bharti, ICICI Bank, TCS, SBI, Reliance Communication and DLF were up 3-5.5%. Reliance Industries, L&T and ONGC went up 1-2%. Strong European cues were also supportive today; CAC, DAX and FTSE gained 1.3% each.
All the sectoral indices were in the green; the BSE Realty Index shot up nearly 5% and Metal up 3.7%. The Bankex gained 2.5%. Among the others, TECk, Auto, Capital Goods, Healthcare, Oil & Gas, Power and IT indices were up 1-2%.
The Sensex was up 315 points, to 16,005 and the Nifty up 101 points, to 4,781. The market breadth was strong; about 1109 shares advanced while 168 shares declined on the NSE. The BSE Midcap and Smallcap indices rose 2-3%.
Total traded turnover was at Rs 65k crore, which included Rs 46k crore from the F&O segment.
Among the frontliners, Tata Motors, Unitech, Jindal Steel, BPCL, Jaiprakash Associates and Sterlite Industries were up 5-8.7%.
In the midcap space, Kirloskar Brothers was up 20%. Phoenix Mills, Bhushan, Rei Agro and Kirloskar Oil were up 11-13%.
Top percentage gainers - Resurgere Mines, Premier Energy, SEL Manufacturing, Triton Valves, Liberty Phos, Mukand, Petron Eng Cons and Lloyd Electric were up 20% each.
Nifty hovers around 4750; realty, metals, banks, auto up
At 02.01 pm today, the Nifty was trading strong and hovering around the 4750 mark. Good buying interest was seen in realty, metals, banks, auto, capital goods, IT and pharma stocks. Reliance, Infosys, ICICI Bank, Bharti Airtel, Reliance Communication, L&T and HDFC were major contributors to the bourses.
The Sensex was up 215.44 points or 1.37% at 15904.56, and the Nifty was up 66.95 points or 1.43% at 4747.35.
About 2251 shares advanced, 625 shares declined, and 315 shares were unchanged.
Top gainers on the Sensex were Tata Motors at Rs 539.90 up 6.24%, Reliance Comm at Rs 307.10 up 5.08%, Jaiprakash Asso at Rs 227.05 up 4.29%, ICICI Bank at Rs 771.05 up 3.63% and Bharti Airtel at Rs 420.55 up 3.52%.
The BSE midcap and smallcap indices were up 2% and 2.72% respectively.
Top gainers on the BSE Midcap - Kirloskar Bros, Kirloskar Oil, Rei Agro, Puravankara Pro and JM Financial were up 9-20%.
Top gainers on the BSE Smallcap - Resurgere Mines, Mukand, Honda Siel, India Glycols and Elgi Equipments were up 14-20%.
Refinery major HPCL was trading at Rs 410.30 up 5.84% from its previous close of Rs 387.65.
However, out of the BSE Sensex 30 only three stocks - ITC, M&M and HUL were trading negative.
On the global front, European markets extended gains; the FTSE was up 2.7%. CAC and DAX were up 1.5% each.
Nifty hits fresh 2009 high on positive European cues
At 12:41 hours IST, the Nifty touched a fresh 2009 high as global markets were supportive today. European markets were trading higher with 0.8% gains each and Asian markets were also on the higher side.
Buying was seen across the sectors barring FMCG. The BSE Metal, Realty and TECk indices went up 2-2.9%. Auto, Bank, Power, Oil & Gas, Healthcare, Capital Goods and IT Indices gained 1-1.5%.
The Sensex rose 212 points, to 15,903 and the Nifty gained 67 points at 4,747. The BSE Midcap Index was up 1.9% and the Smallcap Index up 2.6%.
Top gainers - Tata Motors was at Rs 534.85, up 5.24%; Reliance Communication was at Rs 306, up 4.70%; Jaiprakash Associates was at Rs 227.80, up 4.64%; Bharti Airtel was at Rs 421, up 3.63%; Sterlite Industries was at Rs 689, up 2.77%; BPCL was at Rs 590, up 5.56% and Jindal Steel was at Rs 3,438.70, up 4.79%.
Among the CNX Midcap 50, Welspun Gujarat, Chennai Petro, JSW Steel and Titan Industries were up 3-5%. Punj Lloyd, Sintex India, IVRCL Infrastructure, Patel Engg, Ashok Leyland, Moser Baer, Divis Labs, Educomp Solutions and Andhra Bank gained 2-2.5%.
Nifty holds 4700; broader indices outperform
At 12:03 hours IST, the Nifty was holding the 4700 mark as buying continued in telecom, technology, banking, oil marketing, realty, metal and capital goods companies' shares.
However, selling in ITC, HUL, M&M, Tata Communication and GAIL capped the gains to some extent.
The Sensex was up 143 points, to 15,832 and the Nifty rose 46 points, to 4,726. The broader indices were outperforming other indices; the BSE Midcap was up 1.5% and the Smallcap Index up 2.2%.
The market breadth was positive; about 2178 shares advanced while 640 shares declined on the BSE. Nearly 373 shares were unchanged.
The BSE Metal and Realty indices were up 2% each. TECk and Auto indices gained 1.3% each.
Top percentage gainers - Ashiana Housing, HBPortfolio, Valson Industries, Shri Baj Alloys, JBM Auto Comp, Petron Eng Cons, Mukand, Resurgere Mines and Lloyd Electric were up 15-20%.
Top percentage losers - Swiss Glascoat, Greenply Industries, Seax Global Venture, Passari Cellulo, Dynamatic Tech, R Systems Intl, Todays Writing and Blue Coast were down 5-10%.
In the midcap space, Kirloskar Oil, Rei Agro, UTV Software, GMDC and Future Capital went up 7-12% while MRF, Kansai Nerolac, Sunteck Realty, Mphasis and Allcargo Global slipped 1-2%.
In the metal space, Jindal Steel, JSW Steel, Sterlite Industries, Hindustan Zinc, Tata Steel and SAIL were up 0.8-4.8%.
Realty stocks like Unitech, Omaxe, Parsvnath, DLF, Indiabulls Real and HDIL gained 2-3%.
In the telecom pack, Reliance Communication surged 4.55% and Bharti Airtel went up 2.98%. MTNL, Tata Teleservices and Idea Cellular were up 1-1.8%.
Auto stocks like Amtek Auto and Tata Motors shot up 4.6-7.5%. Ashok Leyland, Bharat Forge, Bajaj Auto, Escorts, Hero Honda and Maruti Suzuki were up 0.9-2.5%.
Sensex extends gain; telecom, tech, banks, cap goods up
At 10:56 hours IST, the Sensex extended gains on the back of buying in telecom, oil & gas, banking, metal, technology and capital goods. The market breadth was also strong; about 1042 shares advanced while 170 shares declined on the NSE.
On the global front, Asian markets were trading higher. Shanghai rose 2%. Hang Seng, Nikkei and Taiwan Weighted gained 0.9-1.4%. Jakarta, Straits Times and Kospi were marginally in the green.
The Sensex was up 176 points, to 15,865 and the Nifty fell 51 points, to 4,732. Among the broader indices, the BSE Midcap Index was up 1.6% and the Smallcap Index up 2.1%.
All the sectoral indices were in the green. The BSE Realty Index rose 2%. Metal, TECk, Auto, Power, Capital Goods, Healthcare, IT, Bank and Oil & Gas indices were up 1-1.9%.
Top gainers - Jaiprakash Associates, Reliance Communication, Tata Motors, Bharti Airtel, TCS, BPCL and Jindal Steel were up 2-6%.
In the midcap space, Kirloskar Oil, Rei Agro, GMDC, UTV Software and Kirloskar Brothers were up 7-15%. However, Allcargo Global, Piramal Health, MRF, Kansai Nerolac and Blue Dart lost 0.9-1.7%.
In the smallcap space, Mukand, Resurgere Mines, WABCO-TVS, Uttam Galva and JK Tyre & Industries gained 10-17%. However, Austral Coke, JMD Telefilms, CMI FPE, Fem Care Pharma and Marathon Nextgen fell 3.5-5%.
IFCI, IDFC, Reliance Capital, Reliance Communication, Unitech and Bharti Airtel were most active shares on the bourses.
Nifty back above 4700 on positive Asian cues; realty up
The Sensex started the first day of the week on a positive note following good global cues. The Nifty was trading above the 4700 mark as telecom, oil marketing, metal and realty stocks were witnessing buying interest.
At 9:56 am, the Sensex was up 109 points, to 15,798 and the Nifty gained 34 points at 4,714. The CNX Midcap and BSE Smallcap went up over 1%, to 6,179 and 7,077, respectively. About 686 shares advanced while 63 shares declined on the NSE.
Among the frontliners, Ranbaxy Labs, Unitech, BPCL, Sterlite Industries, Tata Steel, DLF, Jindal Steel & Power, Reliance Communication, Power Grid, L&T, Grasim, Suzlon and Reliance Capital were the gainers.
However, Sun Pharma, HUL and Cipla were the losers.
IOC was up 3.5% as its board meet will be on September 13 to consider bonus issue.
Uttam Galva was locked at 10% upper circuit, as the company's promoters sold 5.6% to ArcelorMittal. The ArcelorMittal has made an open offer at Rs 120 per share for 29.4% stake. The open offer will open on October 31 and close on November 19, reports CNBC-TV18.
Midcap space:
Matyas Infra locked at 5% upper circuit.
Newly listed NHPC was up just 0.5% but still below issue price.
Rico Auto and Astro Micro were up 5% each.
Sunflag Iron, Advanta India and GMDC were up 3-7%.
Jaiprakash Associates and IDFC were up 2.5% each as both will be included in the Nifty on October 20.
However, Austral Coke was down 5%, at lower circuit.
Global Cues:
Asian markets were trading higher. Nikkei, Hang Seng and Shanghai went up 1-1.7%. Taiwan Weighted was up 0.5%. Jakarta and Straits Times were flat in trade.
The US markets gained on the back of mixed jobs report and technologies outperformed post encouraging comments from Intel's CEO.
The Dow Jones Industrial Average ended up 1% at 9,442. It was down 1% for week while up 7.6% YTD (year-to-date).
The Nasdaq Composite ended up 1.8% at 2,019; it was down 0.5% for week while up 28% YTD. The S&P 500 Index ended up 1.3% at 1,016; it was down 1.22% for week while up 12.5% YTD.
Market cues:
-FIIs net buy USD 12.1 million in equity on September 3
-MFs net buy Rs 27 crore in equity on September 3
-NSE F&O Open Int up by Rs 3215 crore at Rs 83,188 crore on September 3
-FIIs net sell Rs 400 crore in cash markets on September 4 (prov)
-DIIs net sell Rs 5 crore in cash markets on September 4 (prov)
-FIIs net sell Rs 10.7 crore in F&O on September 4
F&O cues:
-Futures Open Int up by Rs 1507 crore
-Options Open Int up by Rs 1707 crore
-Nifty 1.9%, Open Int down by 1%
-Nifty Futures at 15-pt prem versus 6-pt discount
-Nifty IVs at 30-33%
-Nifty Open Int PCR at 1.22 versus 1.12
-Nifty Puts shed 2.9 lakh
-Nifty Calls add 35.7 lakh shares in Open Int
-Nifty September 4700 Put adds 10.7 lakh shares in Open Int
-Nifty September 4600 Put adds 4.2 lakh shares in Open Int
-Nifty September 4500 Put adds 4.1 lakh shares in Open Int
-Nifty September 4400 Put adds 3 lakh shares in Open Int
-Nifty September 4700 Call sheds 10.4 lakh shares in Open Int
-Nifty October 4900 Call adds 2.5 lakh shares in Open Int
-Nifty October 5200 Call adds 4.5 lakh shares in Open Int
-Stock Futures add 5.7 cr shares in Open Int
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