The Nifty maintained its uptrend for the third consecutive day and closed above another milestone - 4800 for the first time since May 30, 2008. Heavyweights like Reliance Industries & SBI, which were underperformer for a long time, rallied on the back of institutional buying. Metal stocks surged on the back of upsurge in base metals.
Global cues were also positive today. Asian markets ended higher; Hang Seng was up 2.14% and Shanghai rose 1.71%. Jakarta and Taiwan Weighted gained 1.2% each. Nikkei, Straits Times and Kospi were up 0.7% each. European markets gained for the third day; they were up 0.5% each, at the time of closing of Indian equities. Mining stocks surged post rise in gold, which surpassed the USD 1000/ounce.The US index futures were also up 0.3-0.9%, indicating positive US opening.
The 50-share NSE Nifty went up 0.47% or 22.35 points, to settle at 4805.25, after seeing an intraday high of 4842.20. The 30-share BSE Sensex shut shop at 16,123.67, up 107.35 points or 0.67%, after hitting a day's high of 16,232.16. These indices surged 4.6% and 4.7% in three days, respectively.
Bharti Airtel, L&T, BHEL, Reliance Infrastructure, Hero Honda, TCS and Grasim were the other gainers. Selling in FMCG, auto (four-wheeler), pharma, select technology and private banking stocks along with Reliance Communication capped the gains and wiped out 108 points on the Sensex and 37 points on the Nifty from the day's high.
Reliance Industries shot up 3.73%, to close at 2,075.15 on huge volumes, which increased 76.57%, to 1,413,309 shares as against 5-day average of 800,441 shares.
SBI, India's largest bank, surged 4.36% to 1,894.15, which was moving closer to its 52-week high of 1,935. Its volumes increased 175.06% to 801,937 shares, compared to its 5-day average of 291,548 shares.
The BSE Metal Index went up 2.5%, as base metals rallied. In the base metals, Lead shot up 5% at 19-month highs; Nickel up 4% and Zinc, Aluminium & Copper up 2%. Nymex Crude also rose 1%.
Gold touched $ 1000/ounce mark again for the first time since March 2008; it was up 3% at $1007 an ounce, as dollar was weak and there was conern that inflation may rise which pushed the buying in precious metals. It touched a record high of $ 1032.70/ounce today. Silver was up 3% at 13-month high.
The Dollar Index was down 0.8% at 77.40, at one-month low. Dollar fell to 2009 lows versus Swiss Franc and Australian dollar. Euro hit one-month high of $1.4426 against dollar.
Continued on the next page... _PAGEBREAK_
Nifty trades higher amid volatility; metals up, FMCG dips
At 14:19 hours IST, the Nifty was trading higher though it gave up some gains. Heavyweights Reliance Industries and SBI surged around 4% each. Among the others, Sterlite Industries, Hindalco, Nalco, Reliance Infrastructure and SAIL were up 4.5-5.5%.
TCS, SAIL, Jindal Steel and Hero Honda gained over 2% each. L&T, Bharti Airtel, DLF, BHEL, ICICI Bank and PNB were up 1-1.5%.
However, selling was seen in FMCG, auto (four-wheeler) and oil marketing companies' shares. Infosys, Reliance Communication, Tata Power, ONGC, Axis Bank, GAIL, Sun Pharma, Siemens and Ambuja Cements were also down.
The Sensex was up 112 points, to 16,133 and the Nifty up 23 points, to 4,806. The broader indices gained 0.4-0.7%. On the global front, European markets were up just 0.5% each.
The Dollar Index was down 0.8% at 77.40, at one-month low. Dollar fell to 2009 lows versus Swiss Franc and Australian dollar. Euro hit one-month high of $1.4426 against dollar.
In the precious metals, gold was up 3% at $1007 an ounce & Silver was up 3% at 13-month highs.
In the base metals, Lead shot up 5% at 19-month high; Nickel up 4% and Zinc, Aluminium & Copper up 2%. Nymex Crude rose 1%.
Continued on the next page... _PAGEBREAK_
Sensex extends gain; RIL up 3%, Rel Infra, Sterlite rise 5%
At 13:07 hours IST, the Sensex extended gain as heavyweights moved up further. It touched an intraday high of 16,208.74. European markets were also marginally positive.
Spot Gold was trading above $1004/ounce. The Dollar Index slipped below 78 and was trading around 77.76.
In the largecaps, Reliance Industries was up 3.6%; SBI, DLF, L&T, Bharti Airtel, ICICI Bank, TCS, SAIL and Hero Honda were up 1-2%. Sterlite and Reliance Infrastructure surged 5-6%. Tata Steel, Nalco, Jindal Steel and Hindalco gained 3.5-4.5%.
However, the sell-off continued in Infosys, HUL, Reliance Communication, Maruti, Tata Power, Axis Bank, Tata Motors, Siemens and BPCL, which fell 1-1.6%. Sun Pharma, Ambuja Cements and Unitech were the other losers.
The Sensex was up 166 points, to 16,182 and the Nifty rose 44 points, to 4,827. The broader indices were up 0.6-0.9%.
The market breadth was positive; about 1,708 shares advanced while 1,143 shares declined on the BSE. Nearly 343 shares were unchanged.
In the midcap space, Spice Communication was up 18.5%. HCL Info, Motilal Oswal Finance, Essar Shipping and BF Utilities gained 6-8%. However, Amtek Auto, Kirloskar Oil, GMDC, Cadila Health and Puravankara Projects fell 2.5-6%.
In the smallcap space, ABG Shipyard was up 18%. Resurgere Mines, Cosmo Films, Mukand and ABG Infralogistics gained 12-16%. However, Panyam Cements, Honda Siel, TV Today Network, Geekay Finance and Austral Coke slipped 5-6%.
Gujarat HC approved demerger of tower business of Idea Cellular, which was up 0.9%.
TCS entered into strategic alliance with Microsoft. The stock gained 2%.
In a block deal, 30 lakh Bharti Airtel shares changed hands on NSE at Rs 425/share.
Marico Head said Bangladesh arm IPO listing was within a week, reports CNBC-TV18 quoting NW18. The stock was flat.
Nifty holds 4800 on positive Asian cues; heavyweights gain
At 12:02 hours IST, the Nifty maintained its uptrend and was holding above 4800 while the Sensex was up over 100 points. Buying in heavyweights like Reliance Industries (3%), TCS (2%), Bharti (0.9%), SBI (1.5%) and L&T (1.7%) was aiding the markets.
Metal, power and capital goods stocks were seeing buying interest while selling in Infosys, HUL, ONGC, Reliance Communication, BPCL, Maruti, Tata Power, Tata Motors, Axis Bank, HDFC Bank, Unitech, ITC and Sun Pharma capped the gains to some extent.
Asian markets continued to trade higher. Shanghai, Hang Seng, Nikkei, Kospi and Taiwan Weighted were up 0.6-1.2%. However, Straits Times was down just 0.2%. Banking stocks were the gainers there.
The Sensex was up 139 points, to 16,155 and the Nifty rose 37 points, to 4,819. The market breadth was in favour of advances; about 794 shares advanced while 442 shares declined on the NSE.
In the metal space, Sterlite Industries, Gujarat NRE Coke, Tata Steel, Hindalco, NALCO, JSW Steel and SAIL surged 2-5%.
Power stocks like Neyveli Lignite and Reliance Infrastructure shot up 5% each. Reliance Power, Power Grid Corp, Suzlon Energy and GMR Infra went up 1-1.7%.
In the capital goods space, L&T rose 1.7%. Punj Lloyd, ABB and BHEL gained 0.6% each.
Top percentage gainers - Savera Hotels and Gemstone Investment were up 20% each. Resurgere Mines, Remi Metals Gujarat, Spice Communication, Goa Carbon, PBA Infra and Mukand gained 12.5-17%.
Top percentage losers - Cyber Media, Terai Tea, Hella India Lig, ITL Industries, KBS Capital, Amtek Auto, Austral Coke, Varun Industries, Vimta Labs and Kohinoor Foods lost 5-9%.
Sensex trades higher; RIL, TCS, SAIL, SBI, Bharti, L&T lead
At 10:47 hours IST, the Sensex was trading higher along with some volatility while the Nifty was hovering around the 4800 mark. The gap in market breadth also reduced; about 791 shares advanced while 413 shares declined on the NSE.
Buying was seen in metal, cement and select power stocks. Reliance Industries, TCS, SBI, Bharti, Hero Honda, M&M, Ranbaxy Labs and Cipla were also up.
However, selling in ONGC, Infosys, BPCL, HUL, Reliance Communication, Tata Power, Unitech, Sun Pharma and ITC capped the gains to some extent.
The Nifty was up 29 points, to 4,812 and the Sensex gained 105 points at 16,121. The broader indices were up 0.5-0.8%.
Manishi Raychaudhuri, Managing Director of BNP Paribas Securities expects the market to remain range bound in the near term. "After the pop that happened post elections, this is possibility the first time the market has broken out beyond that 16,000 range. Since then, despite very strong FII inflows, the market has remained range bound.” He feels the markets are driven by liquidity which has pushed the valuations up.
However, going forward, he remains bullish on the markets and retains a 20,000 points target on the Sensex in the next one year.
Jet Airways was down 2%. The company said some flights might be cancelled on mass leave by pilots.
In the midcap space, Spice Communication shot up 14.59%. Nirma, BF Utilities, MindTree and Kirloskar Brothers were up 5-9%. However, Amtek Auto, Sun Pharma Advanced, GMDC and Atlas Copco fell 2-4%.
In the smallcap space, Money Matters, Mukand, Resurgere Mines, Suashish Diamon and Cholamandalam gained 10-14% while Honda Siel, Austral Coke, Panyam Cements, Dolphin Offshore and Nagarjuna Agri slipped 4-6%.
Nifty touches 4800 for 1st time since Jun 2008
The Nifty started the day on a positive note and touched the 4800 mark for the first time since June 2, 2008. However, there was a bit of volatility as well. Metal, select technology and telecom stocks were witnessing buying interest.
At 9:57 am, the Sensex was up 119 points, to 16,135 and the Nifty rose 35 points, to 4,818. The CNX Midcap was up 0.84%, to 6,271 and the BSE Smallcap Index up 76 points, to 7,265. About 612 shares advanced while 53 shares declined on the NSE.
Among the frontliners, Sterlite Industries, Nalco, GAIL, ABB, Hindalco, Siemens India, Jindal Steel & Power, Bharti Airtel, Cipla, DLF, TCS, Reliance Infrastructure, M&M and Reliance Power were the gainers. However, BPCL and HUL were the losers.
Midcap space:
Gateway Distriparks shot up 13%, as it is going to sell up to 25% stake in subsidiary Gateway Rail Freight and to raise Rs 300 crore via stake sale to PE firm.
Gujarat NRE Coke was up 3.6%. Its board meet will be on September 19 on issue of bonus shares with differential voting rights.
Maytas Infra was up 3.7%. NHPC was trading at Rs 34.70 versus issue price of Rs 36.
Clutch Auto was up 10% and Sona Koyo up 5%.
ITI surged 7.5% as the company said planning to bid for MTNL's WiMAX Franchisee Deal.
Asian cues:
Asian markets were trading higher. Taiwan Weighted rose 1.1% and Hang Seng up 0.9%. Shanghai, Jakarta, Nikkei and Kospi were up 0.2-0.5%. However, Straits Times fell just 0.26%.
Commodities:
Crude was holdind $68 ahead of OPEC (Organization of the Petroleum Exporting Countries) meet. OPEC meeting will be in Vienna on September 9 and it may leave quota unchanged at 4.2 mbpd.
Gold was at 6-month high and gained 11% year-to-date (YTD). Silver at 13-month high and was up 36% YTD. Weak dollar supported the metals.
Market cues:
-Nifty, Sensex at highest level since June 2008
-Nifty rallies 90% from October lows
-Nifty rallies 86% from March lows
-S&P CNX Defty rallies 98% from March lows
-FIIs net sell USD 11.6 million in equity on September 4
-NSE F&O Open Int up by Rs 4474 crore at Rs 87,662 crore
-FIIs net buy Rs 1060 crore in cash markets on September 7 (prov)
-DIIs net buy Rs 150 crore in cash markets on September 7 (prov)
-FIIs net buy Rs 1826 crore in F&O on September 7
F&O cues:
-Futures Open Int up by Rs 2189 crore
-Options Open Int up by Rs 2284 crore
-Nifty up 2.2%, Open Int up by 3%
-Nifty Futures at 13-pt prem versus 15-pt discount
-Nifty IVs at 29-33%
-Nifty Open Int Put Call Ratio at 1.26 versus 1.22
-Nifty Puts add 30 lakh
-Nifty Calls add 12.9 lakh shares in Open Int
-Nifty September 4800 Put adds 7.4 lakh shares in Open Int
-Nifty September 4700 Put adds 6.3 lakh shares in Open Int
-Nifty September 4600 Put adds 5.6 lakh shares in Open Int
-Nifty September 4400 Put adds 4.1 lakh shares in Open Int
-Nifty September 5000 Call sheds 3.3 lakh shares in Open Int
-Nifty October 5300 Call adds 4.9 lakh shares in Open Int
-Nifty October 5200 Call adds 3 lakh shares in Open Int
-Stock Futures add 3.1 crore shares in Open Int
No comments:
Post a Comment