Wednesday, October 22, 2014

Sensex in festive spirit, rallies 211 pts.

The key domestic benchmark rallied for the fourth session on the trot as the Sensex surged by 211 points led by gains in auto and capital goods stocks as investors seemed to be in joyous mood ahead of the festival of Diwali. Dalal Street remained supported by hopes of a pickup in growth after the government stepped up reforms including deregulation of diesel prices and raising natural gas prices to stem the subsidy burden and pare the fiscal deficit. While markets will be closed on Thursday and Friday due to Diwali, Muhurat trading session will be held tomorrow on the auspicious occasion of Diwali. Asian stocks ended mixed as investors weighed corporate earnings data and ECB stimulus measures. China's Shanghai Composite fell amid caution ahead of China manufacturing PMI data tomorrow while Hang Seng rose as Chinese officials assured over growth in the world's second biggest economy despite a Q3 slowdown and stressed that the impact of economic reforms will show only after some time. Japan's Nikkei 225 surged as a weaker yen boosted the appeal of exporter stocks. The BSE SENSEX closed at 26,787.23, up by 211.58 points or by 0.8 per cent, and then NSE Nifty ended at 7,995.9, up by 68.15 points or by 0.86 per cent. The BSE Sensex touched intraday high of 26,818.33 and intraday low of 26,712.21. The NSE Nifty touched intraday high of 8,005 and intraday low of 7,974.55. Meanwhile, the BSE MIDCAP closed at 9,575.83, up by 114.02 points or by 1.21 per cent, while the BSE SMLCAP ended at 10,504.15, up by 121.43 points or by 1.17 per cent. On the Sectoral front, Auto and Capital Goods advanced 2.97 per cent and 2.08 per cent, respectively. The Market breadth, indicating the overall health of the market, was strong. On BSE out of total shares traded 3067, shares advanced were 1856 while 1088 shares declined and 123 were unchanged. The top gainers of the BSE Sensex pack were Hero MotoCorp Ltd. (Rs. 3115.95,+4.03%), Tata Motors Ltd. (Rs. 519.45,+3.54%), Maruti Suzuki India Ltd. (Rs. 3181.70,+3.44%), Bajaj Auto Ltd. (Rs. 2496.10,+3.43%), Cipla Ltd. (Rs. 626.90,+3.43%), among others.

Tuesday, October 21, 2014

Sensex surges 145 pts after reforms

Bucking a weak trend in most Asian markets, the key domestic benchmarks surged on Tuesday, extending gains from the previous session as the Sensex surged by 145 points led by gains in realty and power stocks on strong buying by retail and foreign funds amid hopes that strong reforms by the Modi government may boost growth in Asia's third biggest economy. The government deregulated prices of diesel over the weekend while it is planning to open up the coal sector for privatization by e-auctioning all the 204 coal blocks, operating or non-operating, a major reform for the sector. Most Asian stocks ended lower as China's economy grew at the slowest pace since Q1 2009 at 7.3 per cent, year on year last quarter, data showed. Shanghai Composite ended lower on weak China data, Hang Seng posted slim gains while Japan's Nikkei 225 fell as a stronger yen dimmed the appeal of exporter stocks. The BSE SENSEX closed at 26,575.65, up by 145.8 points or by 0.55 per cent, and then NSE Nifty ended at 7,927.75, up by 48.35 points or by 0.61 per cent. The BSE Sensex touched intraday high of 26,615.41 and intraday low of 26,407. The NSE Nifty touched intraday high of 7,936.6 and intraday low of 7,874.35. Meanwhile, the BSE MIDCAP closed at 9,461.81, up by 85.73 points or by 0.91 per cent, while the BSE SMLCAP ended at 10,382.72 up by 19.27 points or by 0.19 per cent. On the Sectoral front, realty and power advanced 2.63 per cent and 2.55 per cent, respectively. The Market breadth, indicating the overall health of the market, was strong. On BSE out of total shares traded 3059, shares advanced were 1561 while 1383 shares declined and 115 were unchanged. The top gainers of the BSE Sensex pack were GAIL (India) Ltd. (Rs. 479.05,+4.43%), Sesa Sterlite Ltd. (Rs. 248.15,+4.42%), Bharat Heavy Electricals Ltd. (Rs. 237.50,+4.28%), Tata Steel Ltd. (Rs. 455.80,+3.63%), Wipro Ltd. (Rs. 573.25,+3.04%), among others.

Sensex seen opening higher on Asia trend

The key domestic benchmarks are likely to open higher today tracking a mostly positive trend in fellow Asian markets and a positive closing at Wall Street overnight. Asian stocks rose as China's Q3 GDP data beat estimates. The world's second biggest economy expanded 7.3 per cent in July-September 2014, year on year, compared to estimates of 7.2 per cent growth. However, the pace of growth was the slowest since Q1 2009. China's Shanghai Composite was trading with slim gains, Hang Seng rose while Japan's Nikkei 225 fell as a stronger yen dimmed the appeal of exporter stocks. Back home, oil and gas reforms amid diesel price deregulation will continue to support Dalal Street. The stocks of Cairn India, HDFC Bank and JSW Steel will be in focus today as they unveil their Q2 earnings numbers today. Top traded Volumes on NSE Nifty - DLF Ltd. 26767160.00, Jindal Steel & Power Ltd. 23687843.00, Oil And Natural Gas Corporation Ltd. 15253269.00, Hindalco Industries Ltd. 10451491.00 and Axis Bank Ltd. 6484171.00. On BSE, total number of shares traded was 35.23 Crore and total turnover stood at Rs. 3407.74 Crore. On NSE Future and Options, total number of contracts traded in index futures was 406171 with a total turnover of Rs. 16218.87 Crore. Along with this total number of contracts traded in stock futures were 701831 with a total turnover of Rs. 25807.02 Crore. Total numbers of contracts for index options were 4400208 with a total turnover of Rs. 175115.74 Crore and total numbers of contracts for stock options were 429000 with a total turnover of Rs. 15656.11 Crore.

Monday, October 20, 2014

Sensex soars on BJP win, oil & gas reforms

The key domestic benchmark began the week on a strong note as the Sensex surged by 321 points led by gains in PSU and auto stocks as investors cheered the victory of the BJP party in the recently held assembly elections and the government's decision to deregulate diesel prices over the weekend. The BJP stormed to victory in Haryana while it emerged as the single largest party in the state of Maharashtra. The decision to deregulate diesel prices, a long overdue reform may help boost foreign investor sentiment. Diesel price deregulation means the scrapping of the diesel subsidy which will help stem the fiscal deficit and may lead to a reduction in interest rates by the RBI. Asian stocks closed higher today as robust US housing and consumer confidence data signaled a pickup in the world's biggest economy. China's Shanghai Composite ended higher after a government official said that the country's central bank is planning to inject funds into some banks, a sign that the world's second biggest economy is stepping up stimulus fire to bolster growth. Hang Seng rallied while Japan's Nikkei 225 surged as a weaker yen boosted the appeal of exporter stocks. The BSE SENSEX closed at 26,429.85, up by 321.32 points or by 1.23 per cent, and then NSE Nifty ended at 7,879.4, up by 99.7 points or by 1.28 per cent. The BSE Sensex touched intraday high of 26,517.9 and intraday low of 26,368.94. The NSE Nifty touched intraday high of 7,905.95 and intraday low of 7,856.95. Meanwhile, the BSE MIDCAP closed at 9,376.08, up by 103.59 points or by 1.12 per cent, while the BSE SMLCAP ended at 10,363.45 up by 49.48 points or by 0.48 per cent. On the Sectoral front, PSU and Auto surged 2.64 per cent and 2.17 per cent, respectively. The Market breadth, indicating the overall health of the market, was strong. On BSE out of total shares traded 3086, shares advanced were 1701 while 1265 shares declined and 120 were unchanged. The top gainers of the BSE Sensex pack were Oil And Natural Gas Corporation Ltd. (Rs. 418.85,+5.44%), Hindalco Industries Ltd. (Rs. 146.25,+4.69%), Tata Motors Ltd. (Rs. 494.50,+3.94%), Axis Bank Ltd. (Rs. 417.70,+3.92%), Larsen & Toubro Ltd. (Rs. 1494.50,+2.90%), among others.

Thursday, October 16, 2014

Sensex treads water amid global sell-off

The key domestic benchmarks closed lower for a second day as the Sensex plunged by nearly 350 points amid losses in consumer durables and realty stocks as a global sell-off hit investor sentiment. Markets in Asia and Europe sank after overnight jitters at Wall Street after a surprise drop in retail sales in the US signaled that the world's biggest economy was slowing at a time when Europe is in danger of succumbing to a fresh recession while China's economic growth weakens. Investors awaited the results of assembly polls which are likely to show a victory for the BJP party. The BSE SENSEX closed at 25,999.34, down by 349.99 points or by 1.33 per cent, and the NSE Nifty ended at 7,748.2, down by 115.8 points or by 1.47 per cent. The BSE Sensex touched intraday high of 26,462.08 and intraday low of 25,933.98. The NSE Nifty touched intraday high of 7,893.9 and intraday low of 7,729.65. Meanwhile, the BSE MIDCAP closed at 9,243.95, down by 229.13 points or by 2.42 per cent, while the BSE SMLCAP ended at 10,343.09, down by 288.16 points or by 2.71 per cent. On the Sectoral front, Consumer Durables and Power shed 4.25 per cent and 2.91 per cent, respectively. The Market breadth, indicating the overall health of the market, was weak. On BSE out of total shares traded 3160, shares advanced were 827 while 2229 shares declined and 104 were unchanged The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 3160, shares advanced were 827 while 2229 shares declined and 104 were unchanged. The top losers of the BSE Sensex pack were Hindalco Industries Ltd. (Rs. 142.90,-5.46%), Mahindra & Mahindra Ltd. (Rs. 1218.85,-4.41%), Sesa Sterlite Ltd. (Rs. 239.35,-4.09%), Tata Steel Ltd. (Rs. 439.85,-3.92%), Tata Power Company Ltd. (Rs. 83.85,-3.29%), among others.

Monday, October 13, 2014

Sensex reverses losses, rallies 86 pts

Reversing earlier losses, the key domestic benchmarks closed higher today as the Sensex advanced by 86 points led by gains in metals and banking stocks as investors remained optimistic ahead of CPI data which may signal easing inflation in Asia's third biggest economy, leaving room for policy easing by the RBI, going forward. The CPI data due after market hours may show that consumer inflation may have eased to 7.2 per cent in September 2014 from 7.8 per cent in August, estimates showed. However, caution ahead of Q2 earnings of Sensex heavyweight RIL trimmed gains in the Sensex. Asian stocks ended mixed amid concerns over a slowing global economy, despite speculation of continued low interest rates in the US. China's Shanghai Composite fell as oil companies declined amid a slump in global crude prices. Hang Seng rose after China's exports climbed 15.3 per cent, year on year in September, surpassing estimates of a 12 per cent rise. The BSE SENSEX closed at 26,384.07, up by 86.69 points or by 0.33 per cent, and the NSE Nifty ended at 7,884.25, up by 24.3 points or by 0.31 per cent. The BSE Sensex touched intraday high of 26,443.16 and intraday low of 26,092.69. The NSE Nifty touched intraday high of 7,901.15 and intraday low of 7,796. Meanwhile, the BSE MIDCAP closed at 9,489.76 up by 45.35 points or by 0.48 per cent, while the BSE SMLCAP ended at 10,646.47, up by 35.47 points or by 0.33 per cent. On the Sectoral front, Metal and Banking advanced 1.37 per cent and 1.35 per cent, respectively. The Market breadth, indicating the overall health of the market, was weak. On BSE out of total shares traded 3183 , shares advanced were 1518 while 1540 shares declined and 125 were unchanged. The top gainers of the BSE Sensex pack were Tata Power Company Ltd. (Rs. 85.10,+2.90%), Tata Steel Ltd. (Rs. 457.80,+2.14%), Coal India Ltd. (Rs. 340.95,+1.91%), Axis Bank Ltd. (Rs. 386.45,+1.90%), Tata Consultancy Services Ltd. (Rs. 2720.35,+1.54%), among others.

Friday, October 10, 2014

Sensex sheds over 300 pts on global concerns

In line with global peers, the key domestic benchmarks ended Friday's trade in negative terrain, retreating from a massive rally the day before, on concerns over slowing global economic growth and its effect on corporate earnings. Further, losses in index heavyweights such as in ICICI Bank, Tata Motors, L&T and State Bank of India shrugged off gains in Infosys, BHEL, Hero MotoCorp and Reliance Industries. Infosys kicked off second quarter earnings season on strong note which saw shares rising over 6 per cent after the company reported a better-than-expected consolidated net profit at Rs 3,096 crore for the second quarter ended September 30, 2014 (Q2). Total consolidated revenues, grew 4.5 per cent to Rs 13,342 crore in the September quarter. The BSE SENSEX closed at 26297.38 down by 339.9 points or by 1.28 per cent and the NSE Nifty ended at 7863.75 down by 96.8 points or by 1.22 per cent. During the day's trading, the BSE Sensex touched intraday high of 26555.92 and intraday low of 26261.61, while the NSE Nifty touched intraday high of 7924.05 and intraday low of 7848.45. On the global front, most of Asian peers closed in red following weak closing of US stocks in overnight trading on worries about slowing global economic growth and its effect on corporate earnings. All three of the Dow Jones Industrial Average, the tech-heavy Nasdaq Composite and benchmark S&P 500 took a nosedive on Thursday, recording the worst selling day in more than five months, settling at the lowest levels since April. Meanwhile, the BSE MIDCAP closed at 9444.41 down by 131.97 points or by 1.38 per cent, while the BSE SMLCAP settled at 10611 down by 120.69 points or by 1.12 per cent. On the Sectoral front, metal and auto index declined as much as 4.11 per cent and 2.78 per cent, respectively. The Market breadth, indicating the overall health of the market, was weak. On BSE out of total shares traded 3162, shares advanced were 1074 while 1956 shares declined and 132 were unchanged. The top losers of the BSE Sensex pack were Tata Motors Ltd. (Rs. 492.35,-5.31%), Hindalco Industries Ltd. (Rs. 150.20,-4.79%), Sesa Sterlite Ltd. (Rs. 249.75,-4.60%), Tata Steel Ltd. (Rs. 448.20,-4.03%), Mahindra & Mahindra Ltd. (Rs. 1318.40,-3.59%), among others. On the flip side, Infosys Ltd. (Rs. 3888.95,+6.68%), Bharat Heavy Electricals Ltd. (Rs. 220.85,+0.91%), Hero MotoCorp Ltd. (Rs. 2842.20,+0.83%), Reliance Industries Ltd. (Rs. 960.30,+0.59%), Sun Pharmaceutical Industries Ltd. (Rs. 818.80,+0.54%), were among notable gainers on BSE.