Wednesday, October 29, 2014

Sensex rallies ahead of Fed verdict

The key domestic benchmarks rallied for a second straight session, as the Sensex surged by over 200 points driven by gains in realty and metal stocks as investors were optimistic ahead of the US Federal Reserve's policy decision in which the Fed may announce and end to QE but reaffirm its commitment to keeping interest rates at low levels for a considerable time to support the US economy. Bullish closing at Asian markets ahead of the Fed outcome and, amid a surge in Japanese industrial output in September supported the Sensex. The BSE SENSEX closed at 27,098.17, up by 217.35 points or by 0.81 per cent, and the NSE Nifty ended at 8,090.45, up by 62.85 points or by 0.78 per cent. The BSE Sensex touched intraday high of 27,126.3 and intraday low of 26,971.16. The NSE Nifty touched intraday high of 8,097.95 and intraday low of 8,052.25. Meanwhile, the BSE MIDCAP closed at 9,650.29, up by 49.89 points or by 0.52 per cent, while the BSE SMLCAP ended at 10,790.46, up by 66.4 points or by 0.62 per cent. On the Sectoral front, realty and metal advanced 2.97 per cent and 2.63 per cent, respectively. The Market breadth, indicating the overall health of the market, was strong. On BSE out of total shares traded 3212, shares advanced were 1682 while 1407 shares declined and 123 were unchanged. The top gainers of the BSE Sensex pack were Hindalco Industries Ltd. (Rs. 156.65,+5.95%), Tata Motors Ltd. (Rs. 525.95,+3.41%), Tata Steel Ltd. (Rs. 471.75,+2.78%), Infosys Ltd. (Rs. 3879.25,+2.25%), Sesa Sterlite Ltd. (Rs. 255.55,+2.12%), among others.

Tuesday, October 28, 2014

Sensex soars 128 pts. on early rate cut bets

The key domestic benchmarks rebounded today, closing at the highest level in more than a month as the Sensex rallied 128 points driven by gains in healthcare stocks as Ranbaxy swung to a profit for the first time in six quarters. Sentiment was boosted by hopes that the RBI may cut interest rates earlier than expected while the World Bank expected acceleration in India's economic growth to 5.6 per cent this fiscal. Bank of America Merril Lynch (BofA-ML) expects the apex bank to cut interest rates in February next year. Most Asian stocks rose ahead of the two-day meet of the US Federal Reserve in which the central bank is tipped to announce an exit from its monthly bond buying program. Investors are also eyeing clues over the timing for a hike in US interest rates. China's Shanghai Composite surged as Chinese industrial profits climbed 0.4 per cent in September 2014 from the same month a year ago, compared to an annual 0.6 per cent dip in August 2014. Hang Seng closed higher while Japan's Nikkei 225 fell as a stronger yen dimmed the appeal of exporter stocks. The BSE SENSEX closed at 26,880.82, up by 127.92 points or by 0.48 per cent and the NSE Nifty ended at 8,027.6, up by 35.9 points or by 0.45 per cent. The BSE Sensex touched intraday high of 26,907.14 and intraday low of 26,764.15. The NSE Nifty touched intraday high of 8,037.8 and intraday low of 7,995.05. Meanwhile, the BSE MIDCAP closed at 9,600.4, up by 8.31 points or by 0.09 per cent, while the BSE SMLCAP ended at 10,724.06, up by 81.37 points or by 0.76 per cent. On the Sectoral front, healthcare and Power rose 1.42 per cent and 0.96 per cent, respectively. The Market breadth, indicating the overall health of the market, was strong. On BSE out of total shares traded 3115 , shares advanced were 1574 while 1423 shares declined and 118 were unchanged. The top gainers of the BSE Sensex pack were Sun Pharmaceutical Industries Ltd. (Rs. 839.25,+4.31%), Cipla Ltd. (Rs. 645.45,+2.92%), Tata Power Company Ltd. (Rs. 90.80,+2.48%), State Bank of India (Rs. 2656.40,+2.38%), GAIL (India) Ltd. (Rs. 494.35,+1.96%), among others

Monday, October 27, 2014

Sensex snaps 5-day winning run

The key domestic benchmarks ended lower today as the Sensex, which fell nearly 100 points snapped a five-day winning streak amid losses in realty and oil& gas stocks as investors resorted to profit booking. Caution ahead of the US Federal Reserve's policy meet starting Tuesday in which the central bank may end its USD 15 billion monthly bond buying program and possibly offer cues over the timing to tighten monetary policy for the first time since 2006 weighed on sentiment amid fears that a reversal of US monetary policy may hit overseas fund flows in emerging markets. Volatility may heighten this week ahead of the October futures & options (F&O) contract expiry on Thursday. A mostly weak trend in Asian stocks also weighed on sentiment as China's Shanghai Composite and Hang Seng fell after a Chinese state economist predicted growth in the world's second biggest economy may slow to 7.3 per cent next year. Japan's Nikkei 225 climbed as a weaker yen boosted the appeal of exporter stocks. The BSE SENSEX closed at 26,752.9, down by 98.15 points or by 0.37 per cent, and the NSE Nifty ended at 7,991.7, down by -22.85 points or by 0.29 per cent. The BSE Sensex touched intraday high of 26,994.96 and intraday low of 26,726.84. The NSE Nifty touched intraday high of 8,064.4 and intraday low of 7,985.65. Meanwhile, the BSE MIDCAP closed at 9,592.09, down by 80.94 points or by 0.84 per cent, while the BSE SMLCAP ended at 10,642.69, down by 19.96 points or by 0.19 per cent. On the Sectoral front, realty and oil& gas shed 3.79 per cent and 1.45 per cent, respectively. The Market breadth, indicating the overall health of the market, was weak. On BSE out of total shares traded 3116, shares advanced were 1322 while 1667 shares declined and 127 were unchanged. The top losers of the BSE Sensex pack were Hindustan Unilever Ltd. (Rs. 721.90,-4.75%), Tata Motors Ltd. (Rs. 503.65,-2.57%), Oil And Natural Gas Corporation Ltd. (Rs. 394.75,-2.17%), Tata Steel Ltd. (Rs. 451.80,-1.57%), Hindalco Industries Ltd. (Rs. 147.40,-1.31%), among others

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.