The Sensex closed higher for the fourth consecutive day on the back of sharp upside in heavyweight Reliance Industries, which gained 4.5% on institutional buying. Metal stocks continued their run up today as well and banking stocks were the other gainers.
However, selling in telecom, realty, power, FMCG, auto, oil marketing, capital goods and select technology stocks capped the gains. Bharti Airtel, DLF, Jindal Steel and BPCL exerted pressure on the Nifty; these stocks fell 3-4%.
The equity benchmarks saw consolidation for the second straight day. The 30-share BSE Sensex traded in a range of 16,215.74-16,044.77, before closing at 16,183.55, up 59.88 points or 0.37% over the previous close. The 50-share NSE Nifty was up just 0.19% or 9 points, to settle at 4814.25, after trading in a range of 4825.05-4783.50.
Deven Choksey of KR Choksey Securities said the market was consolidating and moving ahead. "We will see 4,750-4,850, a 100 point band for the Nifty for the time being and the moment it crosses above 4,850 probably we will see 4,950 kind of trade lane shifted on the upside."
Hiren Ved, CIO of Alchemy Capital Management said the market had definitely broken out of the critical range. "The market will climb all walls of worry over the next few months. In the next quarter or so we could look at the index at closer to 5,200 on the Nifty."
Reliance Industries (RIL) shot up 12.35% to Rs 2,169.35 a share in four days. Choksey said RIL closing above Rs 2,125 level indicated a new participation into the market. "Technically the stock should be moving in the direction of more than Rs 2,300 levels over a period of time. When one counts 5,000-5,200 on Nifty, the participation of Reliance is definitely there. So, I am positive largely on Reliance side."
Volumes dropped by 18%; total traded turnover was at Rs 78,551.9 crore as against Rs 96,152.36 crore on Tuesday. This included Rs 18,377.14 crore from the NSE cash segment, Rs 53,935.19 crore from the NSE F&O and the balance Rs 6,239.57 crore from the BSE cash segment.
In the metal space, Hindalco surged 4.14%. NALCO, Sterlite Industries and Tata Steel were up 0.8-1.5%. SAIL rose 0.21%. However, Jindal Steel lost 3.44% and JSW Steel down 0.80%.
Index Closing Value Chg (%) OIL&GAS 10,368.68 2.36 BANKEX 8,694.80 0.59 PHARMA 3,910.70 0.35 METAL 13,346.79 0.24 SMALLCAP 7,183.38 0.06 MIDCAP 5,939.81 -0.05 POWER 2,958.79 -0.32 IT 4,285.72 -0.34 FMCG 2,543.19 -0.56 CAP GOODS 13,188.48 -0.8 AUTO 6,113.25 -0.88 TECk 3,106.20 -1.09 REALTY 4,417.06 -1.65
In the technology space, TCS gained 1.21% while Wipro fell 1.75%. Tech Mahindra was down 0.84% and Infosys down 0.32%.
Oil & gas stocks like Cairn India went up 1.56% while BPCL, IOC and HPCL slipped 3-4.7%. ONGC fell 0.50%.
In the telecom pack, Reliance Communication, MTNL, Tata Teleservices, Idea Cellular and Tata Communication lost 0.6-1.7%.
Capital goods stocks like Siemens, ABB and L&T fell 1-1.6%. Punj Lloyd went down 0.53% and BHEL down 0.13%.
In the FMCG pack, Godrej Consumer, Dabur India and United Breweries tanked 1.5-5.8%. ITC, Britannia and HUL were down 0.5-0.7%.
Pharma stocks like Biocon, Ranbaxy Labs, Aurobindo Pharma, Dishman Pharma, Wockhardt and Dr Reddys Labs were down 0.4-2%.
In the auto space, Hero Honda, Bajaj Auto, Bharat Forge, Ashok Leyland and Tata Motors slipped 1-2.4%. Maruti Suzuki and M&M were down 0.3-0.6%.
Realty stocks like DLF, Indiabulls Real, Ackruti City, Sobha Developer, Omaxe and Unitech lost 1-3.5%.
In the power pack, Power Grid Corp, Suzlon Energy, Reliance Infrastructure and NTPC declined 0.7-2.5% while GVK Power was up 8.86%. GMR Infra and Tata Power were up 0.9-1.8%.
The market breadth was negative; about 1,324 shares advanced while 1,571 shares declined on the BSE. Nearly 300 shares remained unchanged.
In the midcap space, Spice Communication, MRF, Jindal Saw, Opto Circuits and GVK Power gained 9-12% while Godrej Consumer, BEML, Shree Renuka, Kirloskar Oil and Edelweiss Capital slipped 3.5-5.8%.
Top percentage gainers - La Opala RG, Aarti Drugs, FIEM Industries and GMR Industries (company may list power and airport business) gained 20% each. Well Pack Paper was up 19.14% and Micro Inks up 16.55%.
In the smallcap space, Jagatjit Industries, Usha Martin and Genus Power went up 10.5-14% while Gateway Distriparks, ESS DEE, Money Matters, Mukand and KPR Mill fell 5-7%.
Tea stocks also witnessed buying interest. Assam Company, Dhunseri Tea, Harrisons Malayalam, Jayshree Tea, Mcleod Russel and Tata Coffee were up 3-8.6%. Tata Tea was up 1.52%.
At 15:01 hours IST, the Nifty was trading marginally higher along with volatility. Heavyweight Reliance Industries was supporting the benchmark indices with its 4.5% gain. Banking and metal stocks along with TCS, Tata Power and Sun Pharma were also witnessing buying interest.
However, the sell-off in telecom, real estate, oil marketing, FMCG, power and select technology companies' shares capped the gains. Heavyweight Bharti Airtel fell 3.6% and DLF down 3.7%.
The Sensex was up 60 points, to 16,184 and the Nifty rose 7 points, to 4,811. About 511 shares advanced while 746 shares declined on the NSE.
In the largecaps, Hindalco was up over 3.5%. HDFC Bank, Jaiprakash Associates, HDFC and Cairn India were up 1-1.5%. However, Hero Honda, Wipro and Reliance Communication slipped 1.6-2.5%. BPCL was down 4.69% and Jindal Steel down 3.63%.
In the midcap space, Spice Communication, Jindal Saw, Opto Circuits and GVK Power gained 9-12.5%. MRF rose 5.42%. However, Edelweiss Capital, BEML, Godrej Consumer, Emami and Shree Renuka declined 3.6-4.5%.
In the smallcap space, GMR Industries was up 20%. Micro Inks, Jagatjit Industries, Usha Martin and aurionPro Solution went up 10-17% while Gateway Distriparks, Mukand, ESS DEE, KPR Mill and Ador Welding fell 5-7%.
Sensex choppy; Bharti, DLF, Wipro, BPCL, Jindal Steel dip
At 14:13 hours IST, the Sensex continued to see consolidation; both the equity benchmarks were hovering around their previous closing values. Oil marketing, realty, power, FMCG, telecom and select technology companies' shares were down. Heavyweights Bharti, ONGC, SBI and L&T were also under selling pressure.
However, buying continued in Reliance Industries, Hindalco, Cairn, Nalco, HDFC Bank, Sterlite, Maruti, Tata Power, HDFC, PNB, Tata Steel, Cipla, Sun Pharma, TCS, ICICI Bank and Axis Bank.
The broader indices were also quiet in trade. The market breadth turned negative; about 1208 shares advanced while 1667 shares declined on the BSE. Nearly 320 shares were unchanged.
The Sensex was trading at 16,170, up 47 points and the Nifty up 6 points at 4,810.
Top percentage gainers - La Opala RG and GMR Industries were up 20% each. FIEM Industries, Aarti Drugs, Spice Communication and Remi Metals Gujarat gained 14.5-16%.
Top percentage losers - Chartered Logis, Swiss Glascoat, BNK Capital, Basant Agro, Mukund Engg, Gateway Distriparks, SEL Manufacturing, Tourism Finance and Mukand fell 6-10%.
Rei Agro's board finalised rights issue up to Rs 1,500 crore. The stock was up just 0.9%.
Unity Infraprojects jumped 3.4%, as it bagged orders worth Rs 620 crore.
Sundaram-Clayton sought shareholder nod for power sector foray. The stock was down 3%.
On the global front, European markets and US index futures were trading with modest loss.
Nifty rangebound; RIL, Hindalco, Sterlite Ind top gainers
At 13.08 hrs IST, the Nifty was choppy in trade and was hovering around the 4800 mark. Buying was seen in oil & gas and metals stocks while selling pressure was seen in IT, realty, auto and FMCG stocks. Infosys, ICICI Bank, L&T, TCS and DLF were the negative contributors to the bourses. However, Reliance, HDFC Bank, BHEL, Cairn India and Hindalco were the gainers.
The Sensex was down 21.93 points or 0.14% at 16101.74, and the was Nifty fell 7.20 points or 0.15% at 4798.05.
About 1272 shares advanced, 1574 shares declined, and 349 shares were unchanged.
Top gainers on the Sensex were Reliance at Rs 2,141.55 up 3.20%, Hindalco at Rs 118.30 up 3%, Tata Steel at Rs 461.50 up 1.17%, Sterlite Ind at Rs 747.50 up 0.97% and Jaiprakash Asso at Rs 235.45 up 0.81%.
Top gainers on the BSE Midcap - Spice Comm, Bayer Cropscien, Oriental Bank, Asian Star and Havells India were up 4-10%.
Top gainers on the BSE Smallcap - GMR Industries, Usha Martin, aurionPro Sol, Cholamandalam and Lloyds Metals.
However, top losers on the Sensex were Bharti Airtel at Rs 411.60 down 2.95%, DLF at Rs 425.50 down 2.34%, Wipro at Rs 540 down 2.16%, Tata Motors at Rs 552.50 down 1.8% and TCS at Rs 544.45 down 1.69%.
Sensex lacklustre; oil mkting, tech, power, pharma down
At 12:05 hours IST, the Sensex was trading with volatility. Technology, FMCG, power, oil marketing, select pharma and cement companies' shares were seeing selling pressure. Bharti Airtel, DLF, HDFC, Tata Motors and SBI were the other losers.
However, buying continued in Reliance Industries, Sterlite, Cairn, Hindalco, Nalco, BHEL, HDFC Bank, Maruti, Tata Steel, Hero Honda, Tata Power, ACC and Axis Bank.
The Sensex was up 6.5 points at 16,130 while the Nifty fell just 4.5 points at 4,800. The broader indices were also quiet in trade, as market breadth was mixed; about 605 shares advanced while 600 shares declined on the NSE.
Top percentage gainers - GMR Industries shot up 19.95%. La Opala RG, Remi Metals Gujarat, Usha Martin, Lotus Chocolate, FIEM Industries and Hitech Plast were up 13-19%.
Top percentage losers - Terai Tea, Shree Pacetroni, APM Industries, ESS DEE, Shiva Texyarn, Mukand and Tourism Finance slipped 5-10%.
In the midcap space, Spice Communication, Bayer Cropscience, Oriental Bank, Havells India and Deccan Chronicle gained 5-10.5% while BEML, Godrej Consumer, Emami, Voltas and Aban Offshore fell 2.5-3.5%.
Supreme Infra was up 2%, as it received order worth Rs 97.4 crore.
J Kumar Infraprojects has bagged order worth Rs 304 crore. The stock rose 3.3%.
Network 18 Media & Investments surged 4.5%, as Network18 received FIPB (foreign investment promotion board) nod to induct Rs 119 crore from SAIF Partners at Rs 130/share and got approval to increase FII limit from 13% to 49%.
Nifty consolidates; oil exploration, metals, pvt banks up
At 10:53 hours IST, the Nifty was consolidating at current levels and was hovering around the 4800 mark. The broader indices were outperforming the benchmark indices.
Rise in crude prices above USD 71 a barrel was helping the oil & gas exploration companies' shares. RIL continued its rally and was up 2%. ONGC was up 0.6% and Cairn up 1.75%.
Metals also maintained their gains; Sterlite Industries, Tata Steel and SAIL were up 0.7-1.7%. Nalco and Hindalco gained 2.8% each.
BHEL, Maruti, Reliance Communication, Hero Honda, ACC, Unitech, HDFC Bank, ICICI Bank, Axis Bank were the other gainers. However, selling continued in FMCG, technology, pharma, power and oil marketing companies' shares. L&T, DLF, Bharti, HDFC, Tata Motors and Grasim were the other losers.
The Sensex was up 39 points, to 16,161 and the Nifty rose 6.5 points, to 4,811. The broader indices were up 0.5-1%. About 1609 shares advanced while 1201 shares declined on the BSE. Nearly 385 shares were unchanged.
In the midcap space, Spice Communication surged 12.80%. Bayer Cropscience, Havells India, Sun Pharma Advanced and IFCI were up 5-6%. However, BEML, Godrej Consumer, Atlas Copco, Jet Airways and Aban Offshore fell 2-2.5%.
In the smallcap space, GMR Industries shot up 20%. Usha Martin, aurionPro Solution, Cholamandalam and Lloyds Metals gained 10-11%. However, ESS DEE, Austral Coke, Ahmednagar Forging, Zenith Infotech and Sujana Towers lost 4-5%.
Sensex volatile in early trade; metals up, FMCG dips
The Sensex retreated marginally in the early trade but immediately managed to bounce back. It was trading with marginal gains amid volatility. Metal and select technology stocks were the gainers while select power, realty and FMCG stocks were under pressure.
At 9:57 am, the Sensex was down 18 points, to 16,105 and the Nifty was down 7 points, to 4,798. The CNX Midcap fell 7 points, to 6,207 while the BSE Smallcap was up 14 points, to 7,193.
Among the frontliners, BPCL, Tata Motors, Power Grid, Grasim, GAIL, Hero Honda, Tata Power, Unitech, ITC, HDFC and Reliance Communication were the losers.
However, BHEL, Cairn, Sterlite, Nalco, HCL Tech, SAIL, Hindalco, ONGC, M&M, Tata Steel and Infosys were the gainers.
Midcap space:
TV Today was up 2.5% and Advanta up 4.4%. GMR Infra gained 3%, as the company is going to list its power and airport business.
Usha Martin was up 7.5%. Bharati Shipyard rose 3% and Uttam Galva up 5%.
However, Aban Offshore was down 2% as there were reports that the company may lose one contract.
Jet Airways fell 4.5%, as its strike problem still continued.
Global cues:
Asian markets were witnessing profit booking. Nikkei and Hang Seng fell 1% each. Shanghai, Straits Times, Kospi and Taiwan Weighted slipped 0.3-0.9%.
The US markets gained on the back of M&A news and couple of upgrades. Real action was seen in commodities as crude surged 4.5% after dollar hit 2009 low.
The Dow Jones Industrial Average was up 56 points at 9,497; the S&P 500 Index up 9 points at 1,025.4 and the Nasdaq Index gained 19 points at 2,037.8.
Commodities:
The Reuters CRB was up 2%.
Gauge of 6 metals in LME gained 2.4% to the highest level since August 13.
Crude gained 4.5% at $ 71.1/bbl ahead of OPEC meeting today in Vienna.
Gold hit $1008/ounce during the day, fresh 18-month highs.
Copper was up 3% at $6475/tonne, at 1-week high.
Lead was up 4.5% at $2455 a tonne.
Market cues:
F&O cues:
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