S&P 500 ends lower after recent gain

 The S&P 500 index ended lower on Wednesday, with charts suggesting the index's five-month rally was growing long in the tooth.

Based on the latest available data, the Dow Jones industrial average was up 2.27 points, or 0.02 percent, at 12,042.43. The Standard & Poor's 500 Index was down 3.58 points, or 0.27 percent, at 1,304.01. The Nasdaq Composite Index was down 1.03 points, or 0.04 percent, at 2,750.16.

The index is starting to look overbought again after touching 2-1/2-year highs Tuesday. A key measure of the rally's strength suggests stocks are vulnerable to a correction, analysts said.

The PHLX Semiconductor Index is running into resistance around 450, a level not surpassed since 2007. Chips are considered a leading indicator for the broader market.

 ET

Dow Jones above 12k after 2 years

NEW YORK: The Dow Jones Industrial Average closed above 12,000 for the first time since June 2008, after American and Chinese manufacturing expanded and United Parcel Service Inc beat analysts' earnings estimates.

UPS, the package-delivery company considered a proxy for economic growth, advanced 4.2%. The S&P 500 rose 1.7%, the most since December 1, to 1,307.59. The benchmark gauge for US equities has rallied 2.5% in the past two days, erasing the January 28 slump that was driven by Egyptian riots. The Dow added 148.23 points, or 1.3%, to 12,040.16.

The S&P 500 has risen 4% this year, extending a 13% advance in 2010, on government stimulus measures and higher-than-estimated corporate profits. About 74% of the 204 companies that reported earnings since January 10 topped analysts' projections, according to data compiled by Bloomberg.

Shares extended gains on Tuesday after the ISM's factory index rose to 60.8 in January, beating the median economist projection of 58.

US gross domestic product growth accelerated to 3.2% in the fourth quarter from 2.6% during the prior three months, the Commerce Department said on January 28. On Monday, reports showed American businesses expanded at the fastest pace since 1988 and consumer spending beat economist estimates.

The last time the S&P 500 closed above 1,300 was in August 2008.

The Dow Jones Transportation Average of 20 stocks had the biggest gain in two months, rallying 2%.

An index of raw-materials producers in the S&P 500 added 2.8%, the biggest gain among 10 industries.

Commodities beat stocks for three months, the longest stretch since June 2008. The S&P GSCI Total Return Index of 24 raw materials gained 3.1% in January and rose for a fifth month, the longest streak since 2004, according to data compiled by Bloomberg. The MSCI All-Country World Index of equities climbed 1.6% including dividends. The Global Broad Market Index for corporate and government bonds lost 0.3%, Bank of America Merrill Lynch data show.

source : Bloomberg

Quarter 3 Result : Brigade Enterprises, ACC, EIL, Ambuja Cements, Cummins India, ICSA

Brigade Enterprises Q3 net profit at Rs 58.1cr

Brigade Enterprises Q3 net profit was up at Rs 58.1 crore versus Rs 5.9 crore, year-on-year.
Its net sales were up at Rs 136 crore versus Rs 57.2 crore.

ACC Q3 cons net profit down 31% at Rs 1077 cr

ACC Q3 consolidated net profit was down 31% at Rs 1077 crore versus Rs 1,564 crore, year-on-year.
Its consolidated net sales were down 3% at Rs 8,259 crore versus Rs 8,479 crore.

EIL Q3 net profit up at Rs 122.5 cr

EIL Q3 net sales were up at Rs 677.1 crore versus Rs 493.8 crore, year-on-year, YoY.
Its net profit was up at Rs 122.5 crore versus Rs 111.1 crore, YoY.

Ambuja Cements Q4 net profit up 7% at Rs 258 cr

Ambuja Cements, one of India's major cement companies, has reported net profit of Rs 258 crore for the quarter ended December 2010, up 7% as compared to Rs 241 crore in same period the previous year.

Net sales went down nearly 0.85% at Rs 1,788 crore versus Rs 1,773 crore on year-on-year basis.\

Cummins India Q3 net profit down at Rs 140 cr

Cummins India Q3 net profit was down at Rs 140 crore versus Rs 150 crore, year-on-year, YoY.
Its net sales were up at Rs 958 crore versus Rs 825 crore, YoY.

ICSA Q3 net profit up at Rs 31.6 cr

ICSA (India) has reported net profit of Rs 31.6 crore for the quarter ended December as against Rs 30.2 crore in same quarter the previous year.
Net sales went up to Rs 365 crore from Rs 313 crore on year-on-year basis.

Nifty Close above 5525; DLF, JP Asso, Bharti gain

NEW DELHI: Indian shares were choppy in early trade on Thursday with little direction from world markets and as an escalation of violence in Egypt kept investors wary.

The main 30-share BSE index was trading 0.3 percent up at 18,144.01 points by 0349 GMT, with 24 of the components gaining. The index opened marginally higher but quickly turned negative before rebounding.

Infosys Technologies and Housing Development Finance Corp were leading the gainers.

The 50-share NSE index was up 0.15 percent at 5,440.10.


Nifty lackluster; RCom, ACC, Sun Pharma, BPCL down
At 9:45 am: National Stock Exchange’s Nifty was at 5425.55, down 6.45 points or 0.12 per cent. The 50-share index touched a low of 5418 and high of 5443.45 in trade so far.

Bombay Stock Exchange’s Sensex was at 18110.08, up 19.46 points or 0.11 per cent. The 30-share index touched a low of 18064.61 and high of 18158.01 in trade so far.

“The trend deciding level for the day is 18146/5446 levels. If Nifty trades above this level during the first half-an-hour of trade then we may witness a further rally up to 18250 - 18410/5477 - 5521 levels.
However, if Nifty trades below 18146/5446 levels for the first half-an-hour of trade then it may correct up to 17987 - 17883/5402 - 5371 levels,” said Angel Broking note.

BSE Midcap Index was down 0.11 per cent and BSE Smallcap Index edged 0.09 per cent lower.

Amongst the sectoral indices, BSE Realty Index gained 0.33 per cent, BSE Auto Index moved 0.31 per cent higher and BSE Bankex advanced 0.16per cent. BSE Oil&gas Index was down 0.70 per cent and BSE Power Index slipped 0.55 per cent.

Bharti Airtel (2.76%), Hero Honda (2.04%), DLF (1.58%), Cipla (0.81%), and Hindustan Unilever (0.80%) were the top Nifty gainers.

Reliance Communications (-2.05%), ACC (-1.81%), Sun Pharma (-1.80%), BPCL (-1.63%) and Dr Reddy’s Laboratories (-1.48%) were the top losers.

Market breadth was positive on the NSE with 901 gainers against 864 losers.

Sensex surges; realty, metals, banks, oil & gas lead

At 11:11 am: Bombay Stock Exchange’s Sensex was at 18369.87, up 279.25 points or 1.54 per cent. The 30-share index touched a low of 18064.61 and 18393.56 high of in trade so far.

National Stock Exchange’s Nifty was at 5502.75, up 70.75 points or 1.30 per cent. The 50-share index touched a low of 5418 and high of 5514.25 intraday.

BSE Midcap Index was up 0.67 per cent and BSE Smallcap Index advanced 0.72 per cent higher.

All the sectoral indices were in the green. BSE Realty Index gained 2.67 per cent, BSE Metal Index moved 1.58 per cent higher and BSE Bankex was up 1.37 per cent.

DLF (5.39%), Hindalco (3.32%), Bharti Airtel (2.77%), Hero Honda (2.73%), and Jaiprakash Associates (2.60%) were the top Sensex gainers. There were no index losers.

IIFL is of the view that Bharti Airtel has formed bullish ‘piercing line’ pattern on candlestick which corroborates trend reversal from the down trend. It has reiterated ‘Buy’ for target of Rs 335.

Market breadth was positive on the BSE with 1480 gainers against 902 losers.

Nifty holds 5500; DLF, Hindalco, L&T, RInfra gain


At 1:10 pm: National Stock Exchange’s Nifty was at 5508.10, up 76.10 points or 1.40 per cent. The 50-share index touched a low of 5418 and high of 5520.15 in trade so far.

Bombay Stock Exchange’s Sensex was at 18383.97, up 293.35 points or 1.62 per cent. The 30-share index touched a low of 18064.61 and high of 18418.36 in trade so far.

BSE Midcap Index was up 0.60 per cent and BSE Smallcap Index gained 0.61 per cent.

Amongst the sectoral indices, BSE Realty Index advanced 2.69 per cent, BSE Capital Goods Index rose 2.21 per cent and BSE Metal Index gained 1.84 per cent.

DLF (5.57%), Hindalco (3.49%), Jaiprakash Associates (3.33%), L&T (3.33%) and Reliance Infrastructure (3.03%) were the top Nifty gainers.

HCL Tech (-1.38%), ACC (-1.32%), BPCL (-1.17%), Dr Reddy’s Laboratories (-0.95%) and IDFC (-0.35%) were the top losers.

Market breadth was positive on the NSE with 1620 gainers against 1023 losers.

Meanwhile, European markets are likely to open in the red. FTSE 100 futures was down 0.20 per cent, CAC 40 slipped 0.30 per cent and DAX declined 0.13 per cent.

Sensex up over 300 points; realty, capital goods up


At 2:30 pm: Bombay Stock Exchange’s Sensex was at 18424.85, up 334.23 points or 1.85 per cent. The 30-share index touched a low of 18064.61 and high of 18443.21 in trade so far.

National Stock Exchange’s Nifty was at 5520.30, up 88.30 points or 1.63 per cent. The 50-share index touched a low of 5418 and high of 5528.05 in trade so far.

BSE Midcap Index was up 1.03 per cent and BSE Smallcap Index gained 0.94 per cent.

Amongst the sectoral indices, BSE Realty Index moved 3.12 per cent higher, BSE Capital Goods Index rose 2.50 per cent and BSE Bankex gained 1.88 per cent.

DLF (5.72%), Jaiprakash Associates (4.08%), Hindalco (4.02%), L&T (3.83%) and Tata Motors (3.49%) were the top Sensex gainers.

Bajaj Auto (-0.63%) was the only index loser.

Market breadth was positive on the NSE with 1620 gainers against 1023 losers.

Meanwhile, European markets were witnessing profit booking. FTSE 100 was down 0.58 per cent, CAC 40 slipped 1.04 per cent and DAX declined 0.42 per cent.

Nifty Close above 5525; DLF, JP Asso, Bharti gain

National Stock Exchange’s Nifty closed at 5527.85, up 95.85 points or 1.76 per cent. The 50-share index touched a low of 5418 and high of 5532.65 in trade so far.

Bombay Stock Exchange’s Sensex ended at 18458.04, up 367.42 points or 2.03 per cent. The 30-share index touched a low of 18064.61 and high of 18466.21 in trade so far.

BSE Midcap Index was up 1.08 per cent and BSE Smallcap Index gained 1.29 per cent.

Amongst the sectoral indices, BSE Realty Index moved 4.09 per cent higher, BSE Metal Index rose 2.31 per cent and BSE Capital Goods gained 2.20 per cent.

DLF (8.30%), Jaiprakash Associates (6.72%), Bharti Airtel (5.89%), Hindalco (5.11%) and Ambuja Cement (3.55%) were the top Nifty gainers.

HCL Tech (-1.26%), Dr Reddy’s Laboratories (-0.83%), ACC (-0.81%), Ranbaxy Laboratories (-0.57%) and IDFC (-0.57%) were amongst the top sectoral losers.

Market breadth was positive on the NSE with 1801 gainers against 1032 losers.
Source ET