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Monday, June 30, 2014

Sensex ends 300 pts higher; power, PSU stocks support

Driven by strong gains in power and state-controlled banks such as Reliance Infra, Tata Power, Syndicate Bank and Allahabad Bank, the key domestic benchmarks closed higher on Monday. Power stocks rallied nearly 3 per cent on reports that private power producers have made a pitch for pooling the price of domestic as well as imported gas. On the other hand, state-owned banks ended higher on reports that the government has decided to create a holding company structure for them before the Budget amid decline in crude oil prices. Meanwhile, Asian markets closed mixed as investors turned cautious ahead of U.S. and European economic data due this week. The BSE SENSEX closed at 25413.78 up by 313.86 points or by 1.25 per cent and the NSE Nifty ended at 7611.35 up by 102.55 points or by 1.37 per cent. During the day's trade, the BSE Sensex touched intraday high of 25460.96 and intraday low of 25179.55, while the NSE Nifty touched intraday high of 7623.65 and intraday low of 7531.60. Meanwhile, the BSE MIDCAP closed at 9378.95 up by 173.78 points or by 1.89 per cent, while the BSE SMLCAP ended at 10203.19 up by 180.9 points or by 1.8 per cent. On the sectoral front, Power and PSU stocks rose 2.88 per cent and 2.62 per cent, respectively. The Market breadth, indicating the overall health of the market, was weak. On BSE out of total shares traded 3286, shares advanced were 2193 while 984 shares declined and 109 were unchanged. The top gainers of the BSE Sensex pack were Sun Pharmaceutical Industries Ltd. (Rs. 686.25,+3.87%), Tata Power Company Ltd. (Rs. 107.75,+3.81%), Oil And Natural Gas Corporation Ltd. (Rs. 423.70,+3.08%), ICICI Bank Ltd. (Rs. 1418.45,+2.43%), Dr. Reddy's Laboratories Ltd. (Rs. 2615.15,+2.43%), among others. On the flip side, Bajaj Auto Ltd. (Rs. 2285.00,-1.02%), Mahindra & Mahindra Ltd. (Rs. 1147.90,-0.52%), Maruti Suzuki India Ltd. (Rs. 2438.35,-0.47%), Tata Motors Ltd. (Rs. 431.15,-0.25%), Wipro Ltd. (Rs. 544.95,-0.16%), were among notable losers on BSE.

Friday, June 27, 2014

Sensex ends higher; IT, pharma stocks support

Driven by strong gains in IT and pharma stocks such as TCS, Sun Pharma and Ranbaxy, the key domestic benchmarks closed higher on Friday. Healthacare stocks like Sun Pharmaceutical Industries and Ranbaxy Laboratories rallied on the U.S. regulator's approval for a key drug while IT stocks gained after rival Accenture Plc reported robust quarterly revenue growth. Accenture has posted 4 percent growth in its diluted earnings per share at USD 1.26 compared with USD 1.21 for the third quarter last year, helped by robust growth in all business segments. However, losses in index heavyweights such as ICICI Bank, Tata Motors, Mahindra & Mahindra, Sesa Sterlite, Tata Steel and Gail India, Bharti Airtel, BHEL, Hindalco Industries and Coal India capped market gains. The BSE SENSEX closed at 25099.92 up by 37.25 points or by 0.15 per cent and the NSE Nifty ended at 7508.8 up by 15.6 points or by 0.21 per cent. During the day's trade, the BSE Sensex touched intraday high of 25209.61 and intraday low of 25032.94 The NSE Nifty touched intraday high of 7538.75 and intraday low of 7482.30. Meanwhile, the BSE MIDCAP closed at 9205.17 up by 24.33 points or by 0.27 per cent, while the BSE SMLCAP ended at 10022.29 up by 40.91 points or by 0.41 per cent. On the sectoral front, Healthcare and IT stocks rose 2.48 per cent and 2.45 per cent, respectively. The Market breadth, indicating the overall health of the market, was weak. On BSE out of total shares traded 3247, shares advanced were 1781 while 1343 shares declined and 123 were unchanged. The top gainers of the BSE Sensex pack were Sun Pharmaceutical Industries Ltd. (Rs. 660.65,+3.97%), Tata Consultancy Services Ltd. (Rs. 2398.40,+3.85%), Cipla Ltd. (Rs. 437.30,+2.59%), Wipro Ltd. (Rs. 545.85,+1.90%), Dr. Reddy's Laboratories Ltd. (Rs. 2550.00,+1.80%), among others. On the flip side, Hindalco Industries Ltd. (Rs. 160.95,-2.63%), Bharat Heavy Electricals Ltd. (Rs. 244.90,-2.57%), Bharti Airtel Ltd. (Rs. 331.60,-2.08%), Sesa Sterlite Ltd. (Rs. 289.25,-1.78%), Mahindra & Mahindra Ltd. (Rs. 1153.85,-1.69%), were among notable losers on BSE.

Thursday, June 26, 2014

Sensex ends lower on F&O expiry

The key domestic benchmarks closed lower on Thursday as traders rolled over their positions on the day of expiry of the June Futures and Options (F&O) contracts. Oil & Gas stocks tumbled after the centre deferred a decision to hike prices of locally produced gas, dampening the profitability prospects for major players. However, consumer durables and capital goods stocks rose after the government decided to extend the excise duty cuts up to December 31. Meanwhile, Asian markets ended higher today as investors bet on a strong revival in the US economy following the biggest contraction in five years in the first quarter of 2014. The BSE SENSEX closed at 25,062.67, down by 251.07 points or by 0.99 and the NSE Nifty ended at 7,493.2, down by 76.05 points or by 1 per cent. The BSE Sensex touched intraday high of 25,309.33 and intraday low of 25,021.23 The NSE Nifty touched intraday high of 7,570.2 and intraday low of 7,481.3. Meanwhile, the BSE MIDCAP closed at 9,180.84, down by 27.82 points or by 0.3 per cent, while the BSE SMLCAP ended at 9,981.38, down by -31.41 points or by 0.31 per cent. On the sectoral front, Capital Goods and Consumer Durables rose 0.88 per cent and 0.69 per cent, respectively. The Market breadth, indicating the overall health of the market, was weak. On BSE out of total shares traded 3255, shares advanced were 1545 while 1598 shares declined and 112 were unchanged. The top losers of the BSE Sensex pack were Oil And Natural Gas Corporation Ltd. (Rs. 411.10,-5.89%), Reliance Industries Ltd. (Rs. 1011.95,-3.70%), NTPC Ltd. (Rs. 152.45,-2.77%), Coal India Ltd. (Rs. 388.60,-2.29%), Housing Development Finance Corporation Ltd. (Rs. 976.95,-1.82%), among others.

Wednesday, June 25, 2014

Sensex ends in the red on Iraq

The key domestic benchmarks ended in the red on Wednesday as caution persisted ahead of the expiry of the June F&O contracts on Thursday. A weak trend in Asian markets amid escalating tensions surrounding Iraq also dampened the appeal of risky assets. Fears rose that deepening unrest in Iraq may crimp crude supplies from OPEC's second biggest crude producer, and cause a spike in oil prices, throwing the world economy into a tail-spin. A rise in oil prices may worsen India's CAD and exert pressure on government finances. The BSE SENSEX closed at 25,313.74, down by 55.16 points or by 0.22 per cent and the NSE Nifty ended at 7,569.25, down by 10.95 points or by 0.14 per cent. The BSE Sensex touched intraday high of 25,427.8 and intraday low of 25,274.39 The NSE Nifty touched intraday high of 7,589.25 and intraday low of 7,557.05. Meanwhile, the BSE MIDCAP closed at 9,208.66, up by 47.48 points or by 0.52 per cent, while the BSE SMLCAP ended at 10,012.79, up by 35.08 points or by 0.35 per cent. On the corporate front, Oil & Gas and Capital Goods shed 0.79 per cent and 0.70 per cent, respectively. The Market breadth, indicating the overall health of the market, was strong. On BSE out of total shares traded 3272, shares advanced were 1746 while 1401 shares declined and 125 were unchanged. The top losers of the BSE Sensex pack were Oil And Natural Gas Corporation Ltd. (Rs. 436.85,-1.42%), ITC Ltd. (Rs. 316.05,-1.36%), Bharti Airtel Ltd. (Rs. 336.35,-1.35%), ICICI Bank Ltd. (Rs. 1419.85,-1.30%), Larsen & Toubro Ltd. (Rs. 1650.45,-1.19%), among others.

Tuesday, June 24, 2014

Sensex, Nifty zoom...record highest ever turnover

After being under pressure for the past four trading sessions, the Indian equity markets were back with a bang. The Nifty recaptured the 7550 mark while the BSE Sensex ended above the 25300 mark led by gains in the realty, oil and gas, power, capital goods and banking stocks.

Auto, IT and the FMCG stocks were among the other major gainers. Even the mid-cap and the small-cap index ended with smart gains.

Oil marketing companies were in action as brent crude recorded its largest one day decline in seven weeks. HPCL, BPCL and IOC gained over 4.5% each.

Indices recorded its highest ever turnover as it crossed the Rs.6.80 trillion mark. Seeing today's BSE derivatives volume of 3.4 trillion, one would think it’s a case of a FAT finger trade. However, this is not the case as volumes have moved through the day even as 88% of the volumes have been concentrated in three strikes of Sensex 24400 PUT, 24600 PUT and 24200 PUT with no unusual spurt seen in the prices.

On May 16, the BSE turnover stood at Rs 6808.44 crore on the eve of the outcome of Lok Sabha elections.

Finally, the Sensex closed at 25,369, up 338 points, while NSE Nifty closed at 7,580, up 87 points.

Gail, BPCL, 
DLF, Bank of Baroda, NMDC, BHEL and Axis Bank were among the gainers on NSE, whereas Kotak Bank, Sun Pharma, Infosys, UltraTech Cement, Tech Mahindra and Cairn were among the losers today.

The INDIA VIX was up 0.35% at 19.03. It hit a high of 20.60 and a low of 18.68.

Meanwhile, the rupee is trading down 0.15% at 60.11 against the US dollar.


Bharti Airtel signed a definitive agreement with Loop Mobile to acquire the latter’s operations in Mumbai. The stock closed down 0.16% on NSE.

Jindal Steel and Power (JSPL) has won a large order to supply around 88,000 tonnes of long rails to the Tata–Aldesa joint venture for use in the Eastern Dedicated Freight Corridor. JSPL closed up 1.62% on NSE.

Power and Coal Minister Piyush Goyal has asked Coal India to improve the quality of its coal by December 31, 2014. Coal India closed up 1.12% on NSE.

Reliance Communications is expected to launch sale of shares worth $500mn. However, no further details have been provided. The scrip closed up 0.7% at Rs. 151 on NSE.

Monday, June 23, 2014

Market ends lower on profit booking

Weighed down by losses in index heavyweights such as ITC, Infosys, HDFC Bank, HUL and Wipro, the domestic bourses ended in red on Monday, despite recovered marginally in the last 30 minutes after a sharp sell-off. The Indian benchmark remained under stress throughout the day amid profit booking in FMCG and technology stocks. The 30-share barometer index of Bombay Stock Exchange, Sensex closed above the psychological 25K at 25031.32, down by 74.19 points or by 0.3 per cent. The NSE Nifty Nifty closed below 7500, down by 18.1 points or by 0.24 per cent. However, the broader market continued to hold its ground and ended higher above baseline. The BSE MIDCAP settled at 9018.07 up by 56.11 points or by 0.63 per cent, while the BSE SMLCAP closed at 9816.35 up by 55.13 points or by 0.56 per cent. The market breadth, indicating the overall strength of the market, was strong. On BSE out of total shares traded 3207, shares advanced were 1626 while 1434 shares declined and 147 were unchanged. The top losers of the BSE Sensex pack were ITC Ltd. (Rs. 314.05,-6.50%), Infosys Ltd. (Rs. 3231.05,-2.55%), Hindustan Unilever Ltd. (Rs. 617.25,-1.03%), Tata Consultancy Services Ltd. (Rs. 2264.75,-0.95%), Wipro Ltd. (Rs. 531.35,-0.93%), among others. On the flip side, Oil And Natural Gas Corporation Ltd. (Rs. 437.05,+4.63%), Hero MotoCorp Ltd. (Rs. 2580.10,+2.38%), Bharat Heavy Electricals Ltd. (Rs. 244.35,+2.26%), Sesa Sterlite Ltd. (Rs. 297.05,+1.80%), Mahindra & Mahindra Ltd. (Rs. 1158.50,+1.45%), were among notable gainers on BSE. Among the thirteen sectoral indices on BSE, FMCG index was top loser and ended trading lower at 6564.32 down by 277.47 points or by 4.06 per cent. ITC Ltd. (Rs. 314.05,-6.50%), United Spirits Ltd. (Rs. 2592.30,-3.47%), Colgate-Palmolive (India) Ltd. (Rs. 1517.20,-2.29%), Marico Ltd. (Rs. 240.55,-1.17%), United Breweries Ltd. (Rs. 676.50,-1.10%), were among the notable losers on BSE. Following the FMCG index, BSE_IT index closed at 9005.78 down by 142.75 points or by 1.56 per cent. Infosys Ltd. (Rs. 3231.05,-2.55%), MindTree Ltd. (Rs. 886.70,-2.24%), MphasiS Ltd. (Rs. 423.95,-1.92%), HCL Technologies Ltd. (Rs. 1417.80,-1.58%), KPIT Technologies Ltd. (Rs. 163.40,-1.30%), were among the others dragging the market.

Friday, June 20, 2014

Sensex, Nifty fall for 3rd straight day

It was yet another choppy day on Friday as the Indian equity market ended with losses for third consecutive trading session. Prolonged selling pressure in the Healthcare, Auto, Power and the capital goods stocks dragged the Nifty below 7500 mark. However it was for short while as Nifty just managed to close above the psychological level.

The Mid-Cap and the Small-Cap stocks ended with losses, down 0.3% and 0.7% respectively.

On the other hand, realty, consumer durables and the FMCG stocks were the only gainers.

Shares of Coal India was in action, the stock ended higher by a percent.

Finally, the Sensex closed at 25100, down 100 points, while NSE Nifty closed at 7,511, down 29 points.

United Spirits, Cairn, Axis Bank, Kotak Bank, DLF and Bajaj Auto were among the gainers on NSE, whereas M&M, Tata Power, Hindalco, BPCL, Sun Pharma and NMDC were among the losers today.

The INDIA VIX was down 0.26% at 18.69. It hit a high of 19.24 and a low of 15.59.

Meanwhile, the rupee continued to trade above the Rs60 per dollar mark. It was up 0.18% at 60.19 against the green back.

Bajaj Auto said that it will begin retail sales of its four-wheeled passenger vehicle, also called quadricycle, by October. The stock closed up 1.01% on NSE.

Indiabulls Real Estate bought real estate in London's Mayfair for Rs 1,550 crore. The scrip closed up 0.71%.

IFCI plans to sell its partial stake in NSE and entire stake in financial services arm. The stock closed up 4.58% on NSE.

Orchid Chemicals received US Food and Drug Administration (USFDA) approval for Eszopiclone tablets. The scrip closed up 3.54% on NSE.