Indian Stock Market : Sensex ends below 17,200; auto, banks, metals down

The Sensex closed in the red, led by losses in auto, banks, metals and realty stocks even as the European markets remained firm.

The Sensex closed at 17,163.89, down 138.02 points, or 0.80 percent. It touched an intraday high of 17,271.77 and a low of 17,120.86.

The Nifty ended at 5,192.25, down 46.90 points, or 0.90 percent. It touched an intraday high of 5,217.30 and a low of 5,180.65.

The BSE Midcap Index fell 0.87 percent and the BSE Smallcap Index declined 0.89 percent.

Among sectoral indices, the BSE Auto Index was down 2.44 percent, the BSE Bankex declined 1.69 percent and the BSE Metal Index was 1.64 percent lower. The BSE IT Index was up 0.66 percent.

Indian Stock Market : Nifty ends below 5,200; auto, metals, banks down

The Nifty closed below the intermediate support level of 5,200 as a weak rupee and lack of conviction among investors hurt sentiment.

The benchmark has drifted closer to the lower end of the trading range of 5,180-5,300 as foreign institutional investors await clarity on GAAR, a proposed retrospective taxation of cross-border transactions and a reduction in fuel subsidies. The Finance Bill will be debated in Parliament early next week.

The rupee slipped below 53 per dollar, a new four-month low, on increased demand for the greenback from importers and foreign banks. The rupee was at 53.44 per dollar, down 48 paise, against its previous close of 52.96 per dollar.

The Nifty ended at 5,188.40, down 50.75 points, or 0.97 percent. It touched an intraday high of 5,217.30 and a low of 5,180.65.

The Sensex closed at 17,151.19, down 150.72 points, or 0.87 percent. It touched an intraday high of 17,271.77 and a low of 17,120.86.

The BSE Midcap Index fell 1.02 percent and the BSE Smallcap Index declined 1 percent.

Among sectoral indices, the BSE Auto Index was down 2.43 percent, the BSE Metal Index declined 1.75 percent and the BSE Bankex was 1.74 percent lower. The BSE IT Index was up 0.71 percent.

Banks witnessed selling pressure following the Reserve Bank of India's directive to set aside more capital to meet the BASEL III requirements.

Hero MotoCorp (7.55%), Axis Bank (3.94%), Bank of Baroda (3.39%), Maruti Suzuki (3.24%) and IDFC (2.89%) were among the top Nifty losers.

Hero MotoCorp posted a 20% increase in net profit to Rs 603 crore in the quarter ended March, narrowly missing analysts' estimates, as higher raw material costs damped gains from record sales of bikes and scooters. Its total turnover (net sales and other income) in the fourth quarter rose 12% to Rs 6,035 crore driven by higher volume growth as sales jumped 8% to 15.72 lakh units. The company announced a dividend of Rs 45 per share.

Hero MotoCorp results were largely in line with estimates, but net profit came in 4% below estimates due to a higher tax rate, said a CLSA report.

The announcement of Rs 45/share dividend will come as a disappointment given expectations were of Rs 80 plus and it could take a toll on Hero's premium multiples, it added.

Asian Paints (2.37%), Hindustan Unilever (2.32%), Wipro (2.05%), BPCL (0.94%) and TCS (0.74%) were the among the index gainers.

The market breadth was negative on the NSE with 429 gainers against 1,047 losers.

Indian Stock Market : Nifty below 5200; auto, banks, metals decline

The Nifty extended its intraday losses and was near the day's lows as profit booking intensified across the board on the back of the rupee's depreciation against the dollar. There are chances that the market may break out of the tight trading range in coming sessions.

The rupee was at 53.40 per dollar, down 44 paise, against the previous close of 52.96. The Indian currency may breach the 54-per-dollar mark in the near to medium term,
according to analysts.

At 02:40 p.m., the Nifty was at 5,185.75, down 53.40 points, or 1.02 percent. It has touched a high of 5,217.30 and a low of 5,180.65 in trade today.

The Sensex was at 17,162.24, down 139.67 points, or 0.81 percent. It has touched a high of 17,271.77 and a low of 17,120.86 in trade today.

The BSE Midcap Index fell 1.04 percent and the BSE Smallcap Index slipped 1.01 percent.

Among sectoral indices, the BSE Auto Index was down 2.35 percent, the BSE Metal Index declined 1.83 percent and the BSE Bankex was 1.73 percent lower. The BSE IT Index was up 0.86 percent.

Baniking stocks are witnessing selling pressure following the Reserve Bank of India's directive to set aside more capital to meet the BASEL III requirements.

Hero MotoCorp (7.60%), Axis Bank (3.96%), Bank of Baroda (3.89%), IDFC (3.59%) and DLF (3.34%) are among the top Nifty losers.

Hero MotoCorp posted a 20% increase in net profit to Rs 603 crore in the quarter ended March, narrowly missing analysts' estimates, as higher raw material costs damped gains from record sales of bikes and scooters. Its total turnover (net sales and other income) in the fourth quarter rose 12% to Rs 6,035 crore driven by higher volume growth as sales jumped 8% to 15.72 lakh units. The company announced a dividend of Rs 45 per share.

Hindustan Unilever (2.35%), Wipro (1.98%), Asian Paints (1.56%), TCS (0.92%) and BHEL (0.85%) are the among the index gainers.

The market breadth was negative on the NSE with 413 gainers against 1,029 losers

Indian Stock Market : Sensex choppy; Hero MotoCorp, ICICI Bank, Coal India down

The Sensex is witnessing a choppy session with negative bias as investors remained on the sidelines in the absence of clarity on GAAR and tax policy issues.

The rupee continued to slip against the dollar on demand from importers and concerns about slowing economic growth. The partially convertible rupee was at 53.22 per dollar, down 26 paise, against the previous close of 52.96.

At 01:05 p.m., the Sensex was at 17,220.73, down 81.18 points, or 0.47 percent. It has touched a high of 17,271.77 and a low of 17,148.66 in trade today.

The Nifty was at 5,208.30, down 30.85 points, or 0.59 percent. It has touched a high of 5,217.30 and a low of 5,189.45 in trade today.

The BSE Midcap Index was down 0.80 percent and the BSE Smallcap Index slipped 0.69 percent.

Among sectoral indices, the BSE Auto Index was down 1.63 percent, the BSE Realty Index declined 1.02 percent, the BSE Bankex was 1.01 percent lower. The BSE IT Index was up 0.47 percent and the BSE Healthcare Index moved up 0.32 percent.

Hero MotoCorp (6.99%), ICICI Bank (2.69%), Coal India (2.27%), Tata Power (1.94%) and Bajaj Auto (1.71%) are among the top Sensex losers.

Hero MotoCorp posted a 20% increase in net profit to Rs 603 crore in the quarter ended March, narrowly missing analysts' estimates, as higher raw material costs damped gains from record sales of bikes and scooters. Its total turnover (net sales and other income) in the fourth quarter rose 12% to Rs 6,035 crore driven by higher volume growth as sales jumped 8% to 15.72 lakh units. The company announced a dividend of Rs 45 per share.

Hindustan Unilever (1.51%), Wipro (1.48%), HDFC Bank (1.22%), BHEL (0.96%) and Sun Pharma (0.85%) are among the index gainers.

The market breadth was negative on the BSE with 919 gainers against 1,590 losers.

The European markets opened in the green ahead of an ECB meet. The FTSE 100 was up 0.66 percent, the CAC 40 gained 0.88 percent and the DAX moved 0.99 percent higher.

Indian Stock Market : Nifty hovers near 5,200; Hero, Axis Bank, JP Asso down

The Nifty is drifting back to the lower end of the trading range as it hovered above the support level of 5,200 on the back of the weak rupee and Asian peers.

The rupee slipped below 53 per dollar, a new four-month low, as risk-averse investors continued to buy the greenback. Demand from importers also put pressure on the rupee. The rupee fell to a low of 53.18/19 per dollar against its previous close of 52.96. The Reserve Bank of India seems to have intervened between the 52.80 and 53 levels, according to dealers.

At 10:00 a.m., the Nifty was at 5,215.20, down 23.95 points, or 0.46 percent. It has touched a high of 5,217.30 and a low of 5,203.55 in trade today.

The Sensex was at 17,215.06, down 86.85 points, or 0.50 percent. It has touched a high of 17,271.77 and a low of 17,194.26 in trade today.

The BSE Midcap Index was down 0.17 percent and the BSE Smallcap Index slipped 0.14 percent.

Among sectoral indices, the BSE Auto Index was down 1.51percent, the BSE Bankex declined 0.61 percent, the BSE Oil & Gas Index was 0.61 percent lower.l The BSE IT Index was up 0.22 percent and the BSE FMCG Index moved up 0.01 percent.

Hero MotoCorp posted a 20% increase in net profit to Rs 603 crore in the quarter ended March, missing analysts' estimates, as higher raw material costs damped gains from record sales of bikes and scooters. Its total turnover (net sales and other income) in the fourth quarter rose 12% to Rs 6,035 crore driven by higher volume growth as sales jumped 8% to 15.72 lakh units. The company announced a dividend of Rs 45 per share.

Hero MotoCorp (5.43%), Bajaj Auto (2.54%), Maruti Suzuki (2.09%), Axis Bank (1.60%) and Jaiprakash Associates (1.56%) are among the top Sensex losers.

Hindustan Unilever (1.67%), Cipla (1.18%), Sesa Goa (1.17%), Sterlite Industries (0.95%) and Wipro (0.89%) are the among the index gainers.

The market breadth was negative on the NSE with 499 gainers against 793 losers.

Asian markets were down on profit booking. The Hang Seng fell 0.50 percent, the Seoul Composite slipped 0.33 percent, the Taiwan Weighted edged 0.20 percent lower and the Strait Times was down 0.11 percent.

Indian Stock Market : Nifty seen opening lower; sugar stocks eyed

The 50-share Nifty is expected to open lower on Thursday, tracking weak global cues, while investors will keep a close eye on sugar stocks after the government removed the cap on sugar exports and placed the commodity under the open general licence (OGL) category.

According to sources, the export of 1 million tonnes of sugar announced in the last meeting of the empowered group of ministers (EGoM) will now take place under OGL. Stocks like Balrampur Chini Mills Ltd, Shree Renuka Sugars Ltd and Bajaj Hindustan Ltd will be in focus.

The Nifty snapped a three-day upmove and closed in the negative terrain on Wednesday as a weak rupee and lack of conviction among investors hurt sentiment.

The rupee closed near the 53-per-dollar mark on Wednesday as demand for the greenback from importers increased. A widening current account deficit, slowing domestic economic growth and exit of foreign institutional investors on concerns of tax policies have been putting pressure on the rupee.

"There is a lot of headwind against the market's momentum, particularly because of the regulatory issues and non-implementation of policy. At the same time, nasty provisions like GAAR have certainly affected confidence of the people, which has probably taken away many investors from directly participating in the market at the current levels," Deven Choksey, MD, KR Choksey Securities, said.

"Adding fuel to the fire are ETFs which have withdrawn money to pay oil bills and this acts as a negative for the rupee. This too is putting off global investors and traders," Deven added.

Overnight, US stocks edged lower as economic data showed that private sector hiring unexpectedly fell to a seven-month low in April, sparking concerns that Friday's key jobs report will also disappoint investors.

"US private employers added 119,000 jobs in April, well short of expectations for 177,000, according to the ADP report. That sparked market rumors that Friday's payrolls data will show the economy added just 125,000 to 150,000 jobs last month, well below a Reuters consensus forecast for 170,000," a Reuters report said.

The Dow Jones Industrial Average dropped 10.75 points, or 0.08 per cent, to 13,268.57. The Standard & Poor's 500 fell 3.52 points, or 0.25 per cent, to 1,402.30. The Nasdaq Composite Index gained 9.41 points, or 0.31 percent, to 3,059.85.

Asian shares slipped on Thursday after disappointing data from US and Europe reignited concerns about the strength of the global economic recovery.

"European shares dropped on Wednesday after a survey showed euro zone factories sank further into decline last month, with the downturn hitting Italy and Spain hard and appearing to take root among core members France and Germany," a Reuters report added.

Hong Kong 's Hang Seng was trading lower at 21,197.12, down 0.5%. South Korea 's Kospi was trading 02% lower at 1,993.45. China 's Shanghai index was trading flat at 2,439.

At 08:00 a.m., Nifty India stock futures in Singapore were down 15 points at 5,217.00, indicating a negative opening in the domestic market.

Indian Stock Market : Sensex slips 0.5% in early trade; Hero MotoCorp down 5%

The Sensex slipped as much as 0.5 percent early Thursday, with RIL, ITC and Hero MotoCorp leading the losses. The broader 50-share NSE index was down 0.6 percent to 5,207.40.

Hero MotoCorp slipped more than 5% in early trade to touch a low of Rs 2,111.15 after the two-wheeler manufacturer reported profits below street expectations. Its adjusted operating profit margin was broadly flat on a YoY basis at 12% in the fourth quarter of FY12, while net sales grew 11.9% in the quarter.

Shares of sugar companies such as Balrampur Chini Mills, Shree Renuka and Bajaj Hindustan increased over 4% in early trade after the government removed the cap on sugar exports and placed the commodity under the open general licence (OGL) category.

Indraprastha Gas (IGL) rose 1.6% to Rs 227.50 in early trade, ahead of a hearing on an IGL petition, challenging an order of the Petroleum Natural Gas Regulatory Board on network tariff and compression charge, scheduled for later today in the Delhi High Court.

Shares of ACC, Ambuja Cement slipped nearly 1% after the cement manufacturers reported a growth in production at 2.17 million tonnes and 1.91 million tonnes, respectively, for the month of April.

At 9:20 a.m., the 30-share BSE index was trading 0.5% lower at 17,201.16 points led by losses in RIL (0.4%), ITC (0.6%) and Hero MotoCorp (5.3%).

The BSE Auto Index slipped 1.3%, the BSE Realty Index dropped 0.7% and the BSE Metals Index fell 0.7%.

Top Sensex gainers include Cipala, which was trading 1.1% higher at Rs 320.95, and BHEL, up 0.9%.

World Stock Market today :Today's Big Stock Market Movers

The Dow, Nasdaq, and S&P 500 are all up, with the Nasdaq leading the pack at +1.1%. Here are the six big movers in the S&P 500.

Winners:

Sears Holdings Corporation (SHLD): Up 13.4% — Sears Holdings said it expected its first-quarter earnings from continuing operations to be between $1.46 to $1.84 a share, which has caused its stock to jump over 13%.

Chesapeake Energy Corporation (CHK) : Up 7.4% — Aubrey McClendon has agreed to separate the role of CEO and chairman, as he is relinquishing his position as chairman but remaining CEO. Investors support this decision, as their stock has moved up rapidly.

Masco Corporation (MAS): Up 5.5% — Masco is confident that their business, which involves mostly cabinet and other home improvement products, will improve with an improving housing market.

Losers:

Avon Products (AVP): Down 7.6% — Avon's profits sunk as they sold 1% fewer items and the number of sales representatives sank, which has caused their stock to tumble.

Emerson Electric Co. (EMR): Down 5.6% —Due to economic conditions in Europe and China, Emerson Electric's Q2 profits fell 2%.

Jacobs Engineering Group Inc. (JEC): Down 4.9% — Jacobs announced earnings of 65 cents per share, which CEO John Prosser stated were below their expectations.

World Stock Market : Dow Jones average hits highest mark since '07

NEW YORK: The fastest growth in US manufacturing in 10 months gave stocks a lift Tuesday and pushed the Dow Jones industrial average to its highest close in more than four years.

Manufacturing expanded last month at the strongest pace since June, according to the Institute for Supply Management. Orders, hiring and production all rose.

A measure of manufacturing employment also reached a nine-month high, a hopeful sign ahead of Friday's monthly jobs report.

The manufacturing news jolted stock indexes out of a morning stupor, although the gains waned throughout the afternoon. The Dow added 65.69 points to 13,279.32, its highest closing mark since Dec. 28, 2007, during the first month of the Great Recession.

Treasury prices fell, and benchmark crude oil rose $1.29 to settle at $106.16 per barrel. Both of those things tend to happen when investors expect stronger economic growth.

In a separate report Tuesday, the Commerce Department said construction spending ticked up in March, following two months of declines.

Other indexes pushed higher. The Standard & Poor's 500 index rose eight points to 1,406. The Nasdaq composite climbed four points to 3,050.

All 10 industry groups within the S&P 500 climbed, led by energy companies. Chesapeake Energy Corp. jumped 6 per cent on reports that the company will strip CEO Aubrey McClendon of his chairman's title.

McClendon, Chesapeake's founder, was under fire for taking out more than $1 billion in loans using the company's wells as collateral. Chesapeake recently agreed to end the program that allowed McClendon to take personal stakes in the wells.

The S&P finished April in the red, its first losing month since November. The Dow managed a tiny gain.

Judging by its track record, May isn't a promising month for stocks. Since World War II, the S&P 500 has gained an average of 0.31 per cent in May. For all months, the average gain is 0.67 per cent.

Among stocks making big moves:

Sears Holdings Corp. soared 15 per cent, the biggest gain in the S&P 500. The operator of Kmart and Sears stores expects to post a first-quarter profit thanks to a gain from the sale of some US and Canadian stores. The company's stock has jumped 99 per cent so far this year.

Archer Daniels Midland Co. gained 7 per cent after the food conglomerate reported profits that beat analysts' expectations. Profits dropped by nearly a third over the past year, pulled down by one-time charges and lower weaker results from its ethanol and oilseeds businesses.
 
Avon Products Inc. fell 8 per cent, the largest drop in the S&P. The company said earnings plunged 82 per cent, hurt by a bigger restructuring charge, commodity costs and rising labor costs. The results were worse than analysts had expected.

Indian Stock Market : Sensex ends in red; auto, power, capital goods down

The Sensex pared intraday gains and closed in the negative territory on the back of profit booking after European peers slipped off highs. Auto, power and capital goods were the top sectoral losers while technology, FMCG and banks showed some resistance.

The Sensex ended at 17,271.45, down 47.36 points, or 0.27 percent. It touched an intraday high of 17,432.33 and a low of 17,265.48.

The Nifty closed at 5,230.55, down 17.60 points, or 0.34 percent. It touched an intraday high of 5,279.60 and a low of 5,226.45.

The BSE Midcap Index was down 0.38 percent, while the BSE Smallcap Index edged 0.17 percent higher.

Among sectoral indices, the BSE Auto Index was down 1.87 percent, the BSE Power Index slipped 1.38 percent and the BSE Capital Goods Index declined 1.09 percent. The BSE IT Index was up 0.48 percent, the BSE FMCG Index moved 0.17 percent higher and the BSE Bankex advanced 0.07 percent.

Indian Stock Market : Sensex rangebound; FMCG, tech, banks advance

The Sensex is rangebound after shedding some of intraday gains. FMCG, technology and banks continue to remain firm while a weakness emerged in auto, power and oil & gas stocks.

At 12:30 p.m., the Sensex was at 17,380.46, up 61.65 points, or 0.36 percent. It has touched a high of 17,432.33 and a low of 17,363.26 in trade today.

The Nifty was at 5,264.95, up 16.80 points, or 0.32 percent. It has touched a high of 5,279.60 and a low of 5,254.30 in trade today.

The BSE Midcap Index was up 0.32 percent and the BSE Smallcap Index gained 0.61 percent.

Among sectoral indices, the BSE FMCG Index was up 0.88 percent, the BSE IT Index advanced 0.84 percent and the BSE Bankex gained 0.74 percent. The BSE Auto Index was down 0.66 percent, the BSE Power Index slipped 0.39 percent and the BSE Oil & Gas Index declined 0.35 percent.

Hindustan Unilever (2.92%), DLF (2.54%), Bharti Airtel (2.16%), Jindal Steel (1.94%) and TCS (1.85%) are among the top Sensex gainers.

Bharti Airtel reported a consolidated net profit of Rs 1,006 crore for the quarter ended March 2012 against Rs 1,400 crore a year ago. Total income was at Rs 18,738.8 crore compared to Rs 18,507.8 crore in the same period last fiscal. The company recommended a dividend of Re 1 per equity share of face valued Rs 5 each for the financial year 2011-12.

Shares of Hindustan Unilever gained momentum after the company announced quarterly results a day ago. The company's net profit increased nearly 21 percent to Rs 686.61 crore for the quarter ended March 2012 against Rs 569.18 crore in the same quarter a year ago.

Total income increased to Rs 5,835.86 crore for the quarter compared to Rs 5,028.71 crore in the corresponding quarter last fiscal.

Tata Motors (1.94%), Coal India (1.63%), Bajaj Auto (1.55%), Maruti Suzuki (1.49%) and ONGC (1.35%) are among the losers.

Foreign institutional investors seem to be selling Tata Motors. Analysts expect JLR figures to slow down going forward.

Bajaj Auto's sales in April 2012 rose 4 percent to 381,580 units compared to 367,309 units in the same period a year ago.

The market breadth was positive on the BSE with 1,361 gainers against 1,166 losers.

Indian Stock Market : Nifty ends below 5,250 as weak rupee hurts sentiment

The Nifty snapped a three-day upmove and closed in the negative terrain as a weak rupee and lack of conviction among investors hurt sentiment.

The rupee closed near the 53-per-dollar mark on demand for the greenback from importers. Widening current account deficit, slowing domestic economic growth and exit of foreign institutional investors on concerns of tax policies have been putting pressure on the rupee.

India's exports in March fell for the first time since the 2009 global financial crisis. They fell 5.7 percent to $28.7 billion in March 2012 while imports rose 24.3 percent to $42.6 billion.

The partially convertible rupee ended at 52.95 per dollar, down 22 paise, against a previous close of 52.73. It slipped to a low of Rs 53.02 per dollar earlier in the day.

The market had opened on a positive note taking cues from Asian peers, but failed to hold above intermediate resistance levels and gave away gains as the session progressed. The Nifty has been moving in the range of 5,200-5,300 for the past few sessions. It has been lacking strength to break out on the either side.

Once the issues on GAAR and tax policies are clarified by the government, the market may break out on the upside, analysts said.

The GAAR issue would probably be resolved before the finance bill is implemented. A clarification should help people stay back in India and not withdraw money which would ultimately bring down the pressure on rupee as well.

The Sensex ended at 17,301.91, down 16.90 points, or 0.10 percent. It touched an intraday high of 17,432.33 and a low of 17,265.48.

The Nifty closed at 5,239.15, down 9 points, or 0.17 percent. It touched an intraday high of 5,279.60 and a low of 5,226.45.

The BSE Midcap Index was down 0.27 percent while the BSE Smallcap Index edged 0.20 percent higher.

Among sectoral indices, the BSE Auto Index was down 1.72 percent, the BSE Power Index slipped 1.25 percent and the BSE Capital Goods Index declined 0.94 percent. The BSE IT Index was up 0.73 percent, the BSE Bankex moved 0.27 percent higher and the BSE FMCG Index advanced 0.21 percent.

Tata Motors (3.65%), Maruti Suzuki (3.20%), ACC (2.59%), Coal India (2.58%) and Tata Power (2.41%) led the Nifty losers.

Foreign institutional investors seem to be selling Tata Motors. Analysts expect JLR figures to slow down going forward.

DLF (2.78%), Bharti Airtel (2.42%), SAIL (1.95%), Punjab National Bank (1.95%) and Cipla (1.92%) were among the top Nifty gainers.

Bharti Airtel reported a consolidated net profit of Rs 1,006 crore for the quarter ended March 2012 against Rs 1,400 crore a year ago. The company recommended a dividend of Re 1 per equity share of a face value of Rs 5 each for the financial year 2011-12.
The market breadth was negative on the NSE with 662 gainers against 793 losers.

The European markets were mixed. The CAC 40 gained 1.04 percent and the DAX moved 0.83 percent higher. The FTSE 100 was down 0.18 percent.

Indian Stock Market : Nifty slips in red; Tata Motors, Maruti, Coal India down

The National Stock Exchange's Nifty failed to hold above intermediate resistance levels and slipped in the negative territory as profit booking intensified in auto, power, capital goods and oil & gas sectors.

At 2:30 p.m., the Nifty was at 5,244.05, down 4.10 points or 0.08 percent. It touched intraday high of 5,279.60 and a low of 5,240.75.

The Bombay Stock Exchange's Sensex was at 17,335.09, up 16.28 points or 0.09 percent. It touched intraday high of 17,432.33 and a low of 17,309.69.

The BSE Midcap Index was up 0.07 percent and the BSE Smallcap Index gained 0.35 percent.

Among sectoral indices, the BSE Auto Index was down 1.23 percent, the BSE Power Index slipped 0.82 percent, the BSE Capital Goods Index declined 0.57 percent and the BSE Oil & Gas Index slipped 0.31 percent. The BSE IT Index was up 0.90 percent, the BSE Bankex advanced 0.47 percent and the BSE Healthcare Index gained 0.25 percent.

Tata Motors (-3.33%), Tata Power (-2.65%), Maruti Suzuki (-2.58%), Coal India (-1.93%) and Siemens (-1.63%) led the Nifty losers pack.

Foreign institutional investors seem to be selling Tata Motors. Analysts expect JLR figures to slow down going forward.

Bharti Airtel (2.58%), DLF (2.51%), Punjab National Bank (2.06%), SAIL (1.95%) and Cipla (1.92%) were among the top Nifty gainers.

Bharti Airtel reported a consolidated net profit of Rs 1006 crore for the quarter ended March 2012 against Rs 1400 crore a year ago. Total income was at Rs 18,738.8 crore compared to Rs 18507.8 crore in the same period last fiscal. The company recommended a dividend of Re 1 per equity share of face valued Rs 5 each for the financial year 2011-12.

The market breadth was flat on the NSE with 739 gainers against 719 losers.

The European markets were mixed. CAC 40 gained 1.04 percent and DAX moved 0.83 percent higher. FTSE 100 was down 0.18 percent.

Indian Stock Market : Sensex gains 0.6% in early trade; Hindustan Unilever up 3%

The Sensex rose as much as 0.6 percent early on Wednesday with ICICI Bank, HUL and ITC leading the gains. The broader 50-share NSE index was up 0.5 percent to 5,275.40.

Shares of Hindustan Unilever surged over 3% to Rs 429 in early trade after the FMCG major reported a net profit of Rs 686.61 crore, up 20.63 percent for the fourth quarter ended March 31, 2012.

Shares of Tata Motors slipped over 2% to Rs 310.40 after the automaker reported a 7 percent fall in total sales, including exports, in April to 60,086 units from 64,383 units in the corresponding period of last year.

Pantaloon Retail Ltd dropped over 1% to hit its day's low of Rs 182.55 on reports that the Kishore Biyani-led Future Group will spin off the branded apparel business under Pantaloon Retail into a separate entity into which Aditya Birla Nuvo will infuse Rs 1,600 crore to acquire a controlling stake.

Shares of Future Capital Holdings tanked over 5% in early trade to hit their day's low of Rs 133.00.

At 9:20 a.m., the 30-share Sensex was trading 0.4% higher at 17,386.16 led by gains in ICICI Bank (up 0.8%), HUL (up 2.5%) and ITC (up 0.6%).

The BSE consumer durable index gained 1.2%, the BSE FMCG index advanced 1.2% and the BSE metal index rose 0.9%.

Top Sensex losers include Tata Motors, which was trading 2.1% lower at Rs 310.10, and ONGC, which was trading 0.8% lower.

Quarter 4 Results : Hindustan Motors Q4 net up Rs 18.01 crore

 Hindustan Motors today reported a net profit of Rs 18.01 crore for the fourth quarter ended March 31, 2012.

The company had posted a net loss of Rs 6.97 crore in the same period of 2010-11.

Net sales of the company declined to Rs 134.93 crore for the fourth quarter, as against Rs 155 crore in the same period of 2010-11 fiscal, the company said in a statement.

Hindustan Motors reported a loss of Rs 29.96 crore for the fiscal ended 2011-12 due to adverse foreign exchange rate.

The company had posted a net profit of Rs 75 lakh in the previous fiscal.

The company's net revenue from operations for the fiscal 2011-12 stood at Rs 495.48 crore, as against Rs 654.79 crore in the previous year, .

Shares of Hindustan Motors today closed at Rs 9.45 apiece on the BSE, down 0.74 per cent from its previous close.

Quarter 4 Results : HUL Q4 net profit up 21%, beats forecast

India's largest FMCG company Hindustan Unilever's ( HUL ) fourth quarter net profit rose better-than-expected 21% year-on-year to Rs 687 crore, helped by strong growth across segments. Analysts on average had expected HUL to report a net profit of Rs 649 crore, according to a CNBC-TV18 poll,
HUL,the unit of Anglo-Dutch Unilever Plc, reported net sales of Rs5,660.5 crore in the Jan-March quarter, up 16% from a year ago.

In the fourth quarter, HUL had exceptional items, which included gain ofRs 34.73 crore from sale of properties and Rs 5.78 crore provisionfor retirement benefits among other things. In the year ago quarter it had exceptional gain of Rs 47.8 crore from sale of properties anda few other provisions. Its net profit before exceptional items wasup 29%, HUL said.

During the three-month period, the company's domestic consumer business grew 20% with a volume growth of 10%.

Among key segments, soaps & detergents revenue rose 28% year-on-year to Rs 2,834.38 crore in Jan-March.

Personal products revenue was up 17% year-on-year to Rs 1,710.94 crore. The company said, skin care brands like Ponds, Fair & Lovely and Vaseline and hair care brands continued double-digit growth. However,growth in oral care continued to be modest amid high competition.

While,beverages sales rose 8% to Rs 683.2 crore, coffee grew in double digits. HUL's packaged foods revenue was up 10% from a year ago to Rs348 crore.

Revenue from other segments, which includes exports, chemicals and the Pure-it water purifier business, however, fell 47% from a year ago to Rs 182.30 crore.

HUL's total expenses in the quarter were up 14% to Rs 4,989.6 crore. Its advertising and promotional spends went up 9% from a year ago and employee benefits expenses were up 17%.


HULshares closed at Rs 417.60 on Monday, unchanged from Friday's closed

Quarter 4 Results : Taj GVK Q4 PAT down at Rs 7 cr

Taj GVK Hotels & Resorts has announced its fourth quarter results. The company’s Q4 PAT was down at Rs 7 crore versus Rs 13 crore, year-on-year, (YoY).

Its net sales were up at Rs 71 crore versus Rs 69 crore, YoY.

Quarter 4 Results : Vijaya Bank Q4 net up 235% YoY on lower provisioning

State-owned Vijaya Bank on Monday reported more than two-fold (or 235%) jump in its fourth quarter (Jan-March) net profit, bolstered by lower provisioning and administrative costs. Net interest income or the difference between interest earned and paid out, inched up 3% to Rs 493 crore.

During the three month period, provisions (other than tax) and contingencies dropped from Rs 162 to Rs 89 crore, a sharp fall of 82% y-o-y. Similarly, operating expenses fell nearly 40% to Rs 367 crore in the same period.

The bank's asset quality has improved. Gross non-performing asset ratio fell from 2.98% to 2.93% sequentially while net NPA ratio decreased from 1.81% to 1.72%. The lender expanded its loan book by 19% y-o-y (at about Rs 58,000 crore), which is higher than the industry average of 16% in FY12. However, deposits grew at slower pace by 13% to Rs 83,000 crore

Vijaya Bank has proposed to pay a dividend of Rs 2.50 per share. At 15.15 hours, its shares were trading at Rs 58.70, up 3.50% on the NSE.

Quarter 4 Results : Dabur India Q4 cons PAT at Rs 171 cr

Dabur India has announced its fourth quarter results. The company's Q4 consolidated PAT at Rs 171 crore versus Rs 147 crore, year-on-year, YoY.

Its consolidated net sales were up at Rs 1,363 crore versus Rs 1,108 crore, YoY.

The company will pay final dividend of Rs 0.75 per share.

Quarter 4 Results : OBC Q4 PAT down 21% at Rs 265 cr

Oriental Bank of Commerce has announced its fourth quarter results. The bank's Q4 net profit was down 20.65% at Rs 265 crore versus Rs 334 crore, YoY.

Its gross NPA was up at 3.17% versus 2.92%, QoQ.

Its gross NPA was up 10.76% at Rs 3580 crore versus Rs 3,232 crore, QoQ.

Its NII was up 5.42% at Rs 1068 crore versus Rs 1,013 crore, YoY.

The company's net NPA was up at 2.21% versus 1.89%, QoQ.

Its provisioning coverage ratio was at 61.52%.

Quarter 4 Results : Godrej Consumer Q4 cons net up 36% YoY at Rs 193 cr

FMCG company Godrej Consumer Products ' fourth quarter consolidated net profit rose 36% year-on-year to Rs 193 crore, helped by strong sales growth.

Net sales for the three-month period were up 31% from a year ago to Rs 1,323 crore. The company also crossed USD 1 billion revenue for fiscal 2012.

Godrej Consumer's sales in the soaps category (personal wash) rose 30% year-on-year, with 17% volume growth. Household insecticide sales were up 28% and hair care segment saw 13% growth in Jan-March quarter.

In its international operations, sales were up 49% to Rs 518 crore, while domestic sales rose 21% to Rs 807 crore.

The company's EBITDA margin was at 18.9% in Jan-March, up 150 bps year-on-year.

Godrej Consumer shares hit a 52-week high of Rs 541.90 on NSE as investors cheered the company's results. At 13:00 hrs, the stock was up 1.5% at Rs 534.75.

Quarter 4 Results : United Phosphorus Q4 cons PAT at Rs 202 cr

United Phosphorous has announced its Q4 consolidated results. The company's PAT at Rs 202 crore versus Rs 218 crore, year-on-year, YoY.

Its Q4 consolidared net sales were up at Rs 2119 crore versus Rs 1805 crore, YoY.

Quarter 4 Results : Bank of India Q4 net up 93% on high net interest income

Public sector lender Bank of India (BOI) has reported a whopping 93%Year-on-Year jump in its fourth quarter (Jan-March) net profit at Rs 953 crore, driven by higher interest income and lower operating expenses.

Net interest income or the difference between interest earned and paid out rose 21% sequentially to Rs 2501 crore. However, net profit increased at a slower pace by 7.6% to Rs 2678 crore for fiscal year ending March 31, 2012

The bank's global loan book expanded more then 16% to Rs  2.49 lakh crore, while deposits grew at a muted pace nearly 6.5% to 3.18 lakh crore.
Post the result announcement, BOI stock rose 5% to Rs 352.25.

Public sector lender Bank of India (BOI) has reported a whopping 93%Year-on-Year jump in its fourth quarter (Jan-March) net profit at Rs 953 crore, driven by higher interest income and lower operating expenses.

 Net interest income or the difference between interest earned and paid out rose 21% sequentially to Rs 2501 crore. However, net profit increased at a slower pace by 7.6% to Rs 2678 crore for fiscal year ending March 31, 2012

The bank's global loan book expanded more then 16% to Rs  2.49 lakh crore, while deposits grew at a muted pace nearly 6.5% to 3.18 lakh crore.
Post the result announcement, BOI stock rose 5% to Rs 352.25.

World Stock Market : World stocks up on hopes of new Fed stimulus move

World stock markets were modestly higher Monday as sluggish U.S. growth boosted hopes for more measures from the Federal Reserve to help the world's No. 1 economy.

The Fed has already carried out two massive rounds of bond-buying known as quantitative easing to drive down long-term interest rates and stimulate spending and business investment. Low bond yields also encourage investors to shift money to stocks.

European stocks were mostly higher in early trading. Britain's FTSE rose 0.2 percent to 5,759.82 and Germany's DAX added 0.2 percent to 6,815.04. France's CAC-40 fell 0.6 percent to 3,246.79.

U.S. stocks were headed for a neutral opening, with Dow Jones industrial futures nearly unchanged at 13,168. S&P 500 futures were flat at 1,398.

Asian stocks were higher in trading thinned by holidays in Japan and mainland China. All major Asian markets except Tokyo will be closed for holidays on Tuesday.

Hong Kong's Hang Seng rose 1.7 percent to 21,094.21, with banking shares racking up solid gains.

South Korea's Kospi added 0.3 percent to 1,981.99 amid improving business sentiment among manufacturers. Australia's S&P/ASX 200 gained 0.8 percent to 4,396.60 as rising commodities prices helped push up its mining sector.

Benchmarks in New Zealand, Taiwan and the Philippines also gained, while Singapore and Indonesia fell. Markets in mainland China and Japan were closed for public holidays.

Traders are also awaiting U.S. monthly jobs figures for April, to be released Friday, and the second round of France's presidential election on Sunday.

U.S. stock markets rose Friday despite a report that the U.S. economy grew at annual rate of 2.2 percent, below the 2.5 percent that economist had expected. It grew at a faster rate, 3 percent, in the final three months of 2011.

Benchmark oil for June delivery was down 20 cents to $104.73 a barrel in electronic trading on the New York Mercantile Exchange. The contract rose 38 cents to settle at $104.93 in New York on Friday.

In currency trading, the euro fell to $1.3239 from $1.3259 late Friday in New York. The dollar fell to 80.14 yen from 80.39 yen.

Indian Stock Market : Sensex ends above 17,300; TCS, DLF, Hero, Infosys up

The Sensex closed at 17,318.81, up 131.47 points, or 0.76 percent. It touched an intraday high of 17,359.18 and a low of 17,195.51.

The Nifty ended at 5,248.15, up 39.15 points, or 0.75 percent. It touched an intraday high of 5,262.15 and a low of 5,201.45.

According to technical analysts, the market is rangebound with a positive bias. Selling activity seems to have been exhausted and in the next few sessions, if global cues remain supportive, the benchmarks might breach the intermediate resistance levels.

"We have a good chance of breaking above 5,275-5,280 if global markets support us. If these markets remain good for two days we might actually challenge them right away on Wednesday morning. Above 5,280, you might see markets gain some momentum and 5,350-5,370 is what I would look for in the upside," said Mitesh Thacker, Technical Analyst, miteshthacker.com.

The BSE Midcap Index was up 0.69 percent and the BSE Smallcap Index gained 0.57 percent.

Among sectoral indices, the BSE IT Index was up 2.37 percent, the BSE Oil & Gas Index advanced 1.05 percent, the BSE Realty Index gained 1.04 percent and the BSE Metal Index was up 0.89 percent. The BSE FMCG Index slipped 0.27 percent.

TCS (3.49%), Jindal Steel (3.41%), Infosys Technologies (2.75%), DLF (2.61%) and Hero MotoCorp (2.35%) were among the top Sensex gainers.

Goldman Sachs upgraded DLF to 'buy' from 'neutral'. It raised the target price of the stock to Rs 264 on expectations of a pickup in residential and commercial property sales.

Maruti Suzuki (1.95%), BHEL (1.94%), M&M (0.64%), ITC (0.61%) and HDFC (0.50%) were among the index losers.

Shares of Maruti Suzuki slipped after the company announced its quarterly results on Saturday. Its standalone net profit slipped to Rs 639 crore for the quarter ended March 2012 against Rs 659 crore in the same period a year ago. Net sales rose to Rs 11,486.36 crore for the March 2012 quarter against Rs 9,796.71 crore in the corresponding quarter a year ago.

Shares of BHEL were down on profit booking amid media reports that the Rajasthan Rajya Vidyut Utpadan Nigam scrapped tenders worth over Rs 12,000 crore for setting up mega power projects.

The market breadth was positive on the BSE with 1,173 gainers against 1,091 losers.

Indian Stock Market : Nifty ends near 5,250; TCS, Jindal Steel, PGC gain

The Nifty closed the day at 5,247.55, up 38.55 points, or 0.74 percent. It touched an intraday high of 5,262.15 and a low of 5,201.45.

The Sensex closed at 17,323.52, up 136.18 points, or 0.79 percent. It touched an intraday high of 17,359.18 and a low of 17,195.51.

The BSE Midcap Index was up 0.76 percent and the BSE Smallcap Index gained 0.54 percent.

Among sectoral indices, the BSE IT Index was up 2.50 percent, the BSE Oil & Gas Index advanced 1.09 percent, the BSE Realty Index gained 1.04 percent and the BSE Metal Index was up 1.01 percent. The BSE FMCG Index slipped 0.29 percent.

TCS (3.81%), Jindal Steel (3.73%), Power Grid Corporation (3.08%), Hero MotoCorp (2.91%) and Infosys Technologies (2.84%) were among the top Nifty gainers.

BHEL (2.27%), Maruti Suzuki (1.75%), Axis Bank (1.38%), Dr Reddy's Laboratories (1.09%) and SAIL (0.68%) were the among the index losers.

Indian Stock Market : Sensex near 17,300; realty, tech, banks, power gain

At 10:00 a.m., the Sensex was at 17,299.53, up 112.19 points, or 0.65 percent. It touched an intraday high of 17,324.13 and a low of 17,195.51.

The Nifty was at 5,244, up 35 points, or 0.67 percent. It touched an intraday high of 5,251.25 and a low of 5,201.45.

The BSE Midcap Index was up 0.45 percent and the BSE Smallcap Index gained 0.68 percent.

Among sectoral indices, the BSE Realty Index was up 1.42 percent, the BSE IT Index advanced 1.36 percent, the BSE Bankex gained 1.10 percent and the BSE Power Index was up 0.77 percent. The BSE Auto Index slipped 0.48 percent.

Shares of Maruti Suzuki slipped after the company announced its quarterly results on Saturday. Its standalone net profit slipped to Rs 639 crore for the quarter ended March 2012 against Rs 659 crore in the same period a year ago. Net sales rose to Rs 11,486.36 crore for the March 2012 quarter against Rs 9796.71 crore in the corresponding quarter a year ago.

DLF (2.11%), TCS (1.93%), Infosys Technologies (1.76%), ICICI Bank (1.39%) and GAIL (1.12%) are among the top Sensex gainers.

Maruti Suzuki (2.23%), BHEL (2.11%), M&M (1.50%), Bajaj Auto (0.83%) and Jindal Steel (0.64%) are the among the index losers.

The market breadth was positive on the BSE with 1,021 gainers against 512 losers.

Asian markets are witnessing a mixed session. The Hang Seng gained 1.12 percent and the Seoul Composite moved 0.08 percent higher. The Taiwan Weighted slipped 0.14 percent and the Strait Times declined 0.21 percent.

Indian Stock Market : Nifty seen opening higher, Maruti Suzuki eyed

The 50-share Nifty is expected to open higher on Monday, tracking positive Asian markets, while investors will keep a close eye on Maruti Suzuki after the country's largest car maker reported a decline in quarterly profits.

Maruti Suzuki India said its net profit declined by 3.04 percent to Rs 639.8 crore for the fourth quarter ended March 31, 2012, over the same period of the previous fiscal. The company's board recommended a dividend of 150 percent (Rs 7.50 per share of face value Rs 5 each) for 2011-12.

On Friday, US stocks advanced and posted their best weekly gains in a month on the back of stronger-than-expected earnings. The S&P 500 posted its best weekly percentage gain since March and the Nasdaq its best gain since February.

The Dow Jones Industrial Average was up 23.69 points, or 0.18 percent, at 13,228.31. The Standard & Poor's 500 Index was up 3.38 points, or 0.24 percent, at 1,403.36. The Nasdaq Composite Index was up 18.59 points, or 0.61 percent, at 3,069.20.

Asian shares inched higher on Monday as weaker-than-expected US growth data left open the possibility for more monetary stimulus from the Federal Reserve.

However, trading is likely to be subdued with the Japanese and Chinese markets closed for a holiday.

Hong Kong's Hang Seng was trading higher at 20,986.12, up 1.1%. South Korea's Kospi was trading 0.4% higher at 1,984.45.

At 08:00 a.m., Nifty India stock futures in Singapore were up 18 points at 5,209.00, indicating a positive opening in the domestic market.

Indian Stock Market : Sensex off highs; BHEL, Maruti, Sterlite, Sun Pharma down

At 2:20 p.m., the Sensex was at 17,254.56, up 67.22 points, or 0.39 percent. It has touched a high of 17,359.18 and a low of 17,195.51 in trade so far.

The Nifty was at 5,224.45, up 15.45 points, or 0.30 percent. It has touched a high of 5,262.15 and a low of 5,201.45 in trade so far.

The BSE Midcap Index was up 0.15 percent and the BSE Smallcap Index gained 0.29 percent.

Among sectoral indices, the BSE IT Index was up 1.71 percent, the BSE Oil & Gas Index advanced 0.53 percent, the BSE Realty Index gained 0.43 percent and the BSE Power Index was up 0.40 percent. The BSE Healthcare Index slipped 0.61 percent and the BSE FMCG Index declined 0.15 percent.

TCS (3.02%), DLF (2.42%), Infosys Technologies (2.01%), Hero MotoCorp (1.77%) and Tata Power (1.01%) are among the top Senssex gainers.

Goldman Sachs upgraded DLF to 'buy' from 'neutral'. It raised the target price of the stock to Rs 264 on expectations of a pickup in residential and commercial property sales.

BHEL (2.14%), Maruti Suzuki (1.91%), M&M (1.12%), Sterlite Industries (0.85%) and Sun Pharmaceuticals (0.72%) were the among the index losers.

Shares of Maruti Suzuki slipped after the company announced its quarterly results on Saturday. Its standalone net profit slipped to Rs 639 crore for the quarter ended March 2012 against Rs 659 crore in the same period a year ago. Net sales rose to Rs 11,486.36 crore for the March 2012 quarter against Rs 9796.71 crore in the corresponding quarter a year ago.

Shares of BHEL were down on profit booking amid media reports that the Rajasthan Rajya Vidyut Utpadan Nigam scrapped tenders worth over Rs 12,000 crore for setting up mega power projects.

The market breadth was positive on the BSE with 1,351 gainers against 1,279 losers.

European markets opened on a positive note. The FTSE 100 was up 0.23 percent and the DAX advanced 0.27 percent. The CAC 40 slipped 0.75 percent.

Indian Stock Market : Sensex gains 0.8 pct in early trade; Maruti Suzuki down 2%

The BSE Sensex rose as much as 0.8 percent early on Monday with TCS, Infosys and HDFC Bank leading the gains. The broader 50-share NSE index was up 0.7 percent to 5,244.20.

Shares of Maruti Suzuki slipped 2% in early trade after the car maker reported a 3.04 percent decline in quarterly net profits to Rs 639.8 crore for the fourth quarter ended March 31, 2012, over the same period of the previous fiscal.

At 9:20 a.m., the 30-share BSE index was trading 0.6% higher at 17,051.16 points led by gains in TCS (1.5%), Infosys (1.2%) and HDFC Bank (0.7%).

The BSE PSU index gained 1.3%, the BSE realty index surged 0.7% and the BSE metal index was up 0.72%.

Top Sensex losers include BHEL, which was trading 2% lower at Rs 224.60, and Bajaj Auto Ltd, which was trading at Rs 1,582.55, down 0.3%.

Quarter 4 Results : ICICI Bank beats estimates, Q4 net up 31% at Rs 1,902 cr

Aided by higher interest income and other income growth, India's largest private sector lender ICICI Bank on Friday reported a forecast beating 31% year-on-year jump in its fourth quarter (Jan-March) net profit at Rs 1,902 crore.

Net interest income (NII) or the difference between interest earned and paid out rose 24% to Rs 3,105 crore. Loan book expanded by 17% y-o-y to Rs 2.54 lakh crore. However, it was a muted growth at just 3% during the Jan-March period, the peak of so-called busy season (Oct-March).

The net interest margin (NIM) rose to 3.01% from 2.70% in the previous quarter.  Other income climbed 17% to Rs 2,228 crore.

During the quarter, the bank's net non-performing (NPA) ratio improved to 0.62% compared with 0.94% in Q3, FY12. Gross NPA ratio too fell from 1.11% to 0.73%.  
Moreover, overall asset quality has improved during the 12 month period. Consequently, provisions and contingencies dropped to 1,583 crore compared with 2,287 crore. Interestingly, the same went up to Rs 469 crore as against Rs 341 crore in Q3 despite a sequential fall in NPAs.

The bank has a strong capital adequacy ratio of 18.52%, way above the Reserve Bank of India's mandated 9% mark. This means, the lender is sitting on excess unused capital. However, the bank did not give any specific direction for its growth plans.

Meanwhile, the bank's restructured loan book stood at Rs 4,256 crore in FY12 as against Rs 1970 crore in FY11. The bulk of the restructuring, according to the MD, took place in Q3 and Q4. The lender does not see any more threat from its restructured assets in FY13.

For the full fiscal year, net profit shot up 26% y-o-y to Rs 6,465 crore while the consolidated net profit increased by 25% to 7,643. The bank has declared a dividend of Rs 16.50 per share.

Quarter 4 Result : Axis Bank Q4 net up 25% on higher interest income

India's third largest private sector lender Axis Bank on Friday reported a 25% year-on-year jump in its fourth quarter net profit (Jan-March) at Rs 1,277 crore, strengthened by higher interest income. Net interest income or the difference between interests earned and paid, climbed 26% to Rs 2,146 crore. 

The numbers are partially better than market expectations. A CNBC-TV18 poll predicted a net profit growth of 16 while NII at 26.5%. 

Net interest margin (NIM) rose to 3.55% from 3.44% in the corresponding quarter of the previous year. Fee inocme rose 8% y-o-y to Rs 1,327 crore.

For the fiscal year 2011-12, net profit rose at a similar pace by 25 to Rs 4,242 crore. The bank’s loan book expanded by 19% to Rs 1.42 lakh crore.

During the year, the gross non-performing asset (NPA) ratio improved to 0.94% as against 1.01% a year back. The net NPA ratio too fell marginally from 0.26% to 0.25%. Consequently, provisions and contingence fell to Rs 1,143 crore as against Rs 1,280 crore.

In the Jan-March quarter, the bank restructured loans worth Rs 558 crore.  Total restructured assets stood at Rs 3,060 crore as against Rs 1,930 crore.

Deposits grew a little above 16% to Rs 2.20 lakh crore. Demand deposits (current account + saving account), however increaed at a faster pace by 18% to Rs 91,422 crore.  Hence, the share of CASA to total deposits improved to 42% compared with 41% a year back.

 

Axis Bank has proposed a dividend of Rs 16 per share. Meanwhile, the board of the bank has also approved the reassessment of the valuation of the Enam Securities at Rs 1,396 crore and consequently in consideration of demerger, the bank will issue shares in the ratio of 5 equity shares of bank for every 1 equity share held by shareholders of the Enam.

Indian Stock Market : Maruti Suzuki Quarter IV Result

Maruti Suzuki beat street expectations Saturday as fourth quarter net profit fell lower-than-expected 3% from a year ago to Rs 640 crore, helped by a rebound in sales and a surge in other income. 

Net sales for the three-month-period were up 17% year-on-year to Rs 11,486.4 crore.

On a sequential basis, the company's net profit more than trebled, while net sales were up 50% over Oct-Dec quarter.

Analysts on average had expected Maruti to report a fourth quarter profit of Rs 530 crore on revenue of Rs 12,012 crore.

Other income, which more than doubled to Rs 296.85 crore, also put brakes on the declining profits.

In the fourth quarter, Maruti's raw material costs rose 18% year-on-year to Rs 8,874.10 crore.

Its EBITDA (earnings before interest, taxes, depreciation and amortization) margin was down 270bps year-on-year, but up 200 bps sequentially at 7.3%.

During the quarter, the company sold 3,60,334 units, up 4.9% year-on-year.For the full year (2011-12), Maruti Suzuki's total sales volumes declined near 11% from a year ago to 11,33,695 units.

Maruti Suzuki shares closed up 1.1% at Rs 1,397.45 on NSE on Friday. The stock is up over 50% since Dec-end.

World Stock Market : Wall Street week ahead: In battle of the S&P, can bulls gain the edge

It will be another battleground for S&P 500 index next week. Will the bears finally give up and let the bulls have their way?

The S&P 500, the market's broadest measure, managed to close out the week above the psychologically important 1,400 mark for the first time since early April. But the index is still down 0.4 per cent for the month so far even after gaining 1.8 per cent for the week, with only one trading day left in April.

Brian Lazorishak, senior quantitative analyst and portfolio manager at Chase Investment Counsel in Charlottesville, Virginia, said a close above 1,400 is positive, but the recent high, near 1,422, is a more important technical level.

"That's what we're looking for on the upside as confirmation there's room to move higher," Lazorishak said.

"A close above that would open the window to testing highs back to early 2008. The next natural area you'd see is a run to at least 1,440, the May 2008 high."

Next week's release of a slew of economic data on the U.S. labor market and the beginning of the latter half of corporate earnings will be keenly watched to see if they are enough to allow stocks to break above the recent trading range.

The S&P 500, up 11.6 per cent for the year, jumped 4.4 per cent in January, 4.1 per cent in February and 3.1 per cent in March, but is down 0.4 per cent so far this month.

"The sideways action we have seen over the past few weeks was enough to alleviate any overbought conditions that existed in the market a month ago," said Larry McMillan, president of options research firm McMillan Analysis Corp in a report on Friday.

"Thus, the market has the potential for another leg higher in this longer term uptrend, one that began early October 2011," he said.

JOBS, JOBS, JOBS At the top of investors' radar screen next week will be the government's closely watched monthly jobs report for April, to be released on Friday. Jobs growth in March slowed to 120,000, the smallest increase since October, disappointing investors even though the unemployment rate fell to a three-year low of 8.2 per cent.

Ahead of the government's payrolls report, investors will be watching the ADP Employment Report due on Wednesday and weekly jobless claims data due on Thursday for indications of whether the labor market is gaining momentum.

Corporate earnings, which drove gains in stocks last week, will also be in focus.

As of Friday, 57 per cent of the S&P 500 companies had reported first-quarter results. Of those 287 in the S&P 500 that had reported earnings, 72.8 per cent posted results that topped analysts' expectations, according to Thomson Reuters data.

Companies due to report earnings next week include Chesapeake Energy and Pfizer Inc on Tuesday; Prudential Financial, Time Warner and Visa Inc

on Wednesday; and Kraft Foods and Viacom Inc on Thursday. Also on agenda next week, Jamie Dimon, chief executive of JPMorgan Chase & Co, has organized a meeting of major bank chief executives with Federal Reserve Governor Daniel Tarullo, the central bank's point man on regulation, according to The Wall Street Journal on Friday.

The meeting, slated for Wednesday in New York, is expected to focus on a Fed proposal to limit banks' exposure to other firms and governments, though other regulatory concerns likely will be discussed.

Indian Stock Market : M-cap of top 7 firms dips Rs 28,760 crore; SBI biggest loser

MUMBAI: Led by SBI, seven of the 10 most valued Sensex companies saw a dip of Rs 28,760 crore in their combined market capitalisation (m-cap) in last week's trading.

The country's top, state-owned lender SBI shed Rs 8,217 crore from its m-cap which was Rs 1,35,321 crore on Saturday.

Coal India's value dropped Rs 7,200 crore to Rs 2,21,799 crore, becoming the second biggest loser in the list.

Bharti Airtel shed Rs 6,512 crore from its m-cap, which stood at Rs 1,16,584 crore, while NTPC's value diminished Rs 2,515 crore to Rs 1,33,947 crore.

ONGC lost Rs 1,968 crore in value to reach Rs 2,25,736 crore; HDFC Bank - Rs 1,805 crore at Rs 1,27,353 crore and Infosys - Rs 543 crore at Rs 1,37,631 crore.

In contrast, RIL, TCS and ITC saw spurt in their m-cap. TCS was the biggest gainer as its m-cap advanced by Rs 22,224 crore to reach Rs 2,35,443 crore, while RIL's value jumped Rs 2,767 crore at Rs 2,42,283 crore and ITC added Rs 1,134 crore to its valuation which was Rs 1,92,919 crore.

Last week, TCS posted a healthy 21.9 per cent rise in net profit for 2011-12 at Rs 10,638.2 crore and said it is on track to outperform the industry revenue growth of 11-14 per cent set by industry body Nasscom for 2012-13.

It also became the first Indian IT company to cross the 10 billion dollar milestone, posting annual revenues of USD 10.17 billion in 2011-12.

Shares of the company soared over 10 per cent last week. RIL was at the top position, followed by TCS which toppled CIL to grab the second position. ONGC was at third spot, followed by ITC, SBI, Infosys, NTPC, HDFC Bank and Bharti in that order.

During the week, the BSE benchmark index Sensex fell by 1 per cent to 17,187.34.

World Stock Market : Apple, Amazon drive US stocks past dull GDP data

NEW YORK: Tech giants Apple and Amazon proved their mettle to doubting investors once again, leading US stocks higher in the week to Friday as the markets showed they had not yet run out of steam.

The world's biggest company, market value-wise, and the Internet's biggest retailer, both showed up analysts with forecast-busting results that gave the Nasdaq and the S&P 500 firm boosts.

They also helped distract from other possible sources of investor worry -- a somewhat glum US growth report for the first quarter, Federal Reserve inaction on hopes for more stimulus, new worries in Europe and some concern about Chinese growth.

Friday brought a lower-than-forecast estimate for first-quarter US growth, of only 2.2 per cent, down from 3.0 per cent in the final quarter of 2011.

But even that failed to dull the markets, which turned in gains for the day.

US markets scored a firm performance for the week, with earnings from a number of firms beating forecasts and cheering the investors.

For the week the Dow Jones Industrial Average added 1.53 per cent to end at 13,228.31, and the S&P gained 1.8 per cent to 1,403.36.

The Nasdaq though picked up 2.29 per cent, helped mainly by Apple's 5.2 per cent gain for the week, and Amazon's 19.4 per cent run.

Also helping the markets were blue-chip Boeing's earnings, which delivered a 5.1 per cent boost to the aircraft maker's shares for the period.

"The reporting period has been much better than expected, although admittedly from a lower bar -- 83 per cent of companies have beaten expectations so far, which is an all-time record high," said analysts at Charles Schwab & Co.

"But market reactions to good reports have been more muted relative to the punishments doled out to those that disappointed."

Among the disappointments were Caterpillar, which lost 2.9 per cent for the week; Procter & Gamble, down 4.6 per cent; and United Continental, down 3.2 per cent.

Even so, said Bryan Sapp of Schaeffer's Investment Research, the markets did not appear to want to fall.

"The one certainty remains that this market is made of Teflon. Seemingly no matter what happens, the bears just can't manage to take the reins and drive us lower, despite abysmal economic data and numerous macroeconomic fears," he said.

The Charles Schwab analysts said they remained optimistic, but wary nonethless.

"Despite an earnings season that has been much better than expected so far, investors appear to be again focusing on more macro concerns," they said.

"Europe and China are dominant concerns but US growth sustainability is also being questioned."

Company results in the coming week include Pfizer and Motorola (Tuesday), Comcast and Time-Warner (Wednesday), and Viacom, Kraft, AIG and General Motors (Thursday).

Even if company earnings are driving sentiment, eyes will still be on data releases covering April in the coming week: consumer spending (Monday), the ISM manufacturing index (Tuesday), industrial orders (Wednesday); and the ISM services survey (Thursday).
Source : Economics Times

Indian Stock Market : Nifty ends above 5,200; realty, banks, metals gain

The Nifty ended the truncated session on a positive note, above 5,200, on low volumes. The special trading session today was held since the NSE was upgrading its futures and options trading system, as reported. The daily mark to market settlement for futures and the premium settlement for options for trades done in the F&O segment will take place on Monday, 30 April 2012.

The Nifty ended at 5,209, up 18.40 points, or 0.35 percent. It touched an intraday high of 5,216.40 and a low of 5,196.35.

The Sensex closed at 17,209.47, up 75.22 points, or 0.44 percent. It touched an intraday high of 17,212.36 and a low of 17,125.88.

The BSE Midcap Index was up 0.64 percent and the Smallcap Index gained 0.58 percent.

Among sectoral indices, the BSE Realty Index was up 1.19 percent, the BSE Bankex advanced 0.94 percent, the BSE Metal Index gained 0.85 percent and the BSE Auto Index was up 0.71 percent.

Sterlite Industries (1.73%), Axis Bank (1.73%), Ranbaxy Laboratories (1.53%), Jindal Steel (1.28%) and Sesa Goa (1.23%) were among the top Nifty gainers.

Axis Bank reported a standalone net profit of Rs 1,277.27 crore for the quarter ended March 2012. Interest earned stood to Rs 6,060.32 crore for the quarter.

Jindal Steel & Power posted a standalone net profit of Rs 2,110.65 crore for the year ended March 2012 against Rs 2,064.12 crore a year ago. Net sales rose to Rs 13,270.67 crore for the year against Rs 9,534.89 crore last fiscal.

Shares of fertiliser companies were in the limelight. Rashtriya Chemicals surged 8.59 percent, National Fertilisers rallied 15.25 percent, Chambal Fertilisers gained 4.79 percent and Fertilisers and Chemicals Travancore rose 7.86 percent.

Siemens (0.93%), Grasim (0.42%), Kotak Bank (0.35%), HCL Tech (0.29%) and Reliance Industries (0.21%) were the losers. 

Source : Economics Times

Indian Stock Market : Nifty near 5,200; Axis Bank, Jindal Steel, Ranbaxy up

The Nifty opened in the green on the special live session as the exchange is upgrading its futures and options trading system.

At 11:33 a.m., the Nifty was at 5,200, up 9.40 points, or 0.18 percent. It has touched a high of 5,212.15 and a low of 5,196.35 in trade today.

The Sensex was at 17,167.25, up 33 points, or 0.19 percent. It has touched a high of 17,194.59 and a low of 17,125.88 in trade today.

The BSE Midcap Index was up 0.14 percent and the Smallcap Index gained 0.22 percent.

Among sectoral indices, the BSE FMCG Index was up 0.56 percent, the BSE Bankex advanced 0.52 percent and the BSE Bankex gained 0.52 percent. The BSE IT Index was down 0.18 percent and the BSE Capital Goods Index declined 0.11 percent.

Axis Bank (2.63%), Jindal Steel (1.60%), Ranbaxy Laboratories (0.95%), Punjab National Bank (0.95%) and Hindalco Industries (0.88%) were among the top Nifty gainers.

Axis Bank reported a standalone net profit of Rs 1277.27 crore for the quarter ended March 2012. Interest earned stood at Rs 6,060.32 crore for the quarter.

Jindal Steel & Power posted a standalone net profit of Rs 2,110.65 crore for the year ended March 2012 against Rs 2,064.12 crore a year ago. Net sales rose to Rs 1,3270.67 crore for the year against Rs 9,534.89 crore last fiscal.

Sun Pharma (0.59%), Reliance Industries (0.30%), Power Grid Corporation (0.23%), TCS (0.17%) and Hero MotoCorp (0.16%) were the major index losers.

The market breadth was positive on the NSE with 665 gainers against 499 losers.

The NSE is upgrading its futures and options trading system and, hence, conducting a special live trading session today in the F&O and capital market segments. The market will remain open for trading between 11:15 a.m. and 12:45 p.m.

The daily mark to market settlement for futures and the premium settlement for options for trades done in the F&O segment will take place on Monday, 30 April 2012.

Indian Stock Market : NSE, BSE to conduct special F&O trading sessions on Saturday

The National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) will conduct a special live trading session today in the F&O segment due to upgradation of the system.

On account of upgradation in Futures and Options (F&O) trading system, hardware and software to the next generation system to improve processing capability and handle increased activities in the market, the NSE and BSE are conducting a special live trading session on Saturday, said an official statement.

Trading will start at 11.15 am and end at 12.45 pm.

Indian Stock Market : Sensex ends flat; ICICI, Hindalco, GAIL gain

The Sensex closed at 17,134.25, up 3.58 points, or 0.02 percent. It touched an intraday high of 17,242.15 and a low of 17,022.09

The Nifty ended at 5,190.60, up 1.60 points, or 0.03 percent. It touched an intraday high of 5,223.05 and a low of 5,154.30.

"Nifty future, for the third consecutive day, had a choppy session and closed flat near 5,209. Increase in open interest suggests lack of direction in the market. Volumes were low by around 40 percent compared to the previous day," said Ashish Chaturmohta, Vice President, Derivatives & Technical Analyst, IIFL Private Wealth Management.

"Nifty future on the upside has immediate resistance at around the 5,260 levels. If it sustains this resistance, some short covering towards 5,320 can be seen. On the downside, it holds important support around the 5,150 levels (200-days SMA). A breakdown below this would indicate the first signs of caution and may witness further a downside towards 5,080-5,050 levels," Chaturmohta added.

The BSE Midcap Index was down 0.11 percent and the Smallcap Index slipped 0.42 percent.

Among sectoral indices, the BSE FMCG Index was down 0.84 per cent, the BSE Metal Index declined 0.83 percent and the BSE Realty Index slipped 0.83 percent. The BSE IT Index was up 1.20 percent and the BSE Bankex advanced 0.16 percent.

Coal India (2.24%), State Bank of India (1.55%), BHEL (1.47%), Bajaj Auto (1.43%) and Jindal Steel (1.41%) were among the major Sensex losers.

ICICI Bank (2.28%), Hindalco Industries (2.15%), GAIL (1.53%), Infosys Technologies (1.36%) and M&M (1.21%) were among the top gainers.

ICICI Bank reported a net profit of Rs 1,902 crore for the quarter ended March 2012 compared to Rs 1,452 crore in the same period a year ago. Net interest income increased to Rs 3,100 crore for the quarter against Rs 2,509.7 crore in the same quarter last fiscal.

According to Dilip Bhat, Joint Managing Director, Prabhudas Lilladher, the bank's quarterly results were a pleasant surprise. "ICICI Bank is set for a rise of almost up to the Rs 950-960 from the current levels," he said.

The market breadth was negative on the BSE with 1,023 gainers against 1,113 losers.

Note: The National Stock Exchange is upgrading its futures and options trading system and, hence, the exchange is conducting a special live trading session on Saturday, April 28, 2012 in the F&O and capital market segments.

The market will open for trading between 11:15 a.m. to 12:45 p.m.

Source : Economics Times

Indian Stock Market : Nifty ends flat; metals, realty, FMCG decline

The Nifty ended at 5,188.10, down 0.90 points, or 0.02 percent. It touched an intraday high of 5,223.05 and a low of 5,154.30.

The Sensex closed at 17,126.91, down 3.76 points, or 0.02 percent. It touched an intraday high of 17,242.15 and a low of 17,022.09

The BSE Midcap Index was down 0.17 percent and the Smallcap Index slipped 0.38 percent.

Among sectoral indices, the BSE Metal Index was down 0.80 percent, the BSE Realty Index declined 0.77 percent and the BSE FMCG Index slipped 0.61 percent. The BSE IT Index was 1.11 percent higher and the BSE Healthcare Index advanced 0.19 percent.

Source :  Economics Times

Indian Stock Market : Sensex nears 17,000; ICICI up post Q4 results

At 1:15 p.m., the Sensex was at 17,027.97, down 102.70 points, or 0.60 percent. It has touched a high of 17,242.15 and a low of 17,024.70 in trade so far.

The Nifty was at 5,172.15, down 16.85 points, or 0.32 percent. It has touched a high of 5,223.05 and a low of 5,154.30 in trade so far.

"Momentum indicators, although in a sell mode, are not convinced about a clear direction due to the sideways trajectory. Today's session is likely to be important to determine the outlook for the short term as the bulls will have to make a comeback with a strong close above 5,255 (middle bollinger), whereas the bears are eyeing a breakdown below 5,148 (lower bollinger) and 5,130 (200 DMA) to take the market in their favour," an Edelweiss report said.

The BSE Midcap Index was down 0.48 percent and the Smallcap Index slipped 0.55 percent.

Among sectoral indices, the BSE Realty Index was down 2.46 percent, the BSE Metal Index declined 1.20 percent, the BSE Capital Goods Index slipped 1.09 percent and the BSE Bankex was 0.88 percent lower. The BSE IT Index was up 0.36 percent.

DLF (3.22%), Coal India (2.42%), State Bank of India (2.19%), Tata Steel (1.84%) and Bharti Airtel (1.49%) are the major Sensex losers.

ICICI Bank (2.01%), M&M (0.73%), Hindalco Industries (0.56%), TCS (0.46%) and Infosys Technologies (0.43%) are the top gainers.

ICICI Bank announced a net profit of Rs 1,902 crore for the quarter ended March 2012 compared to a net profit of Rs 1,452 crore in the same period a year ago, as reported. Net interest income increased to Rs 3,100 crore for the quarter against Rs 2,509.7 crore in the same quarter last fiscal.

Axis Bank will announce its quarterly results today.

"We expect Axis Bank to report a healthy NII growth of 32.4% YoY to Rs 2,252 crore. NIM, on a sequential basis, is likely to remain flat with a downward bias. Non-interest income is expected to increase by relatively moderate 9.4% YoY to Rs 1,586 crore," an Angel Broking report stated.

The market breadth was negative on the BSE with 1,053 gainers against 1,535 losers.

European markets are down on profit booking. The FTSE 100 declined 0.54 percent, the CAC 40 slipped 0.57 percent, and the DAX fell 1.03 percent.

Source : Economics Times

Indian Stock Market : Nifty near 5,200; Axis Bank up ahead of results

At 11:13 a.m., the Nifty was at 5,214, up 25.75 points, or 0.50 percent. It has touched a high of 5,223.05 and a low of 5,188.90 in trade so far.

The Sensex was at 17,211.14, up 80.47 points, or 0.47 percent. It has touched a high of 17,242.15 and a low of 17,134.85 in trade so far.

"On the hourly charts, indicators RSI (14) and MACD (12/26/9) are gradually regaining momentum after showing positive divergence with prices indicating a short-term trend reversal.

A breach of yesterday's high of 5,216 will confirm the same and invite a relief rally towards the next resistance levels of 5,245 and then 5,270.

On the lower side, immediate support is seen at 5,160 and then at the March low of 5,135. Only a breach below the latter would negate the expected recovery and extend the weakness towards the 5,050 levels," according to a report from Aditya Birla Money.

The BSE Midcap Index was up 0.65 percent and the Smallcap Index gained 0.53 percent.

Among sectoral indices, the BSE Bankex was up 1.14 percent, the BSE Power Index advanced 0.89 per cent, the BSE Capital Goods Index gained 0.73 percent and the BSE Auto Index was up 0.68 percent. The BSE Oil & Gas Index slipped 0.27 percent.

ICICI Bank (2.69%), Axis Bank (2.29%), Jaiprakash Associates (2.02%), Siemens (1.91%) and M&M (1.80%) are among the top Nifty gainers.

ICICI Bank and Axis Bank are under focus ahead of their fourth quarterly earnings announcements.
"We expect the bank to report a moderate net interest income growth of 13.3% YoY to Rs 2,844 crore. Non-interest income growth is expected to be healthy at 23.8% YoY to Rs 2,032 crore.

Net profit is expected to increase only by 18.3% YoY to Rs 1,719 crore on account of higher provisioning expenses (expected to increase by 24.1% YoY) and a higher tax outgo (expected to increase by 34.1% YoY)," according to an Angel Broking report.

"We expect Axis Bank to report healthy NII growth of 32.4% YoY to Rs 2,252 crore. NIM, on a sequential basis, is likely to remain flat with a downward bias. Non-interest income is expected to increase by relatively moderate 9.4% YoY to Rs 1,586 crore," the Angel Broking report added.

Ranbaxy Laboratories (1.70%), Coal India (1.57%), Tata Steel (0.76%), State Bank of India (0.70%) and Reliance Industries (0.69%) are among the losers.

Hexaware Technologies reported a consolidated net profit of Rs 88.36 crore for the quarter ended March 31, 2012, compared to Rs 53.83 crore in the year ago period. Total income increased to Rs 450.28 crore in the quarter compared to Rs 328.30 crore in the corresponding quarter last fiscal.

The market breadth was positive on the NSE with 832 gainers against 531 losers.

Foreign institutional investors continued to remain bearish on Indian equities. They sold shares worth Rs 376.08 crore on Thursday, as per provisional data from the stock exchanges.

The Bank of Japan kept interest rates unchanged at its policy meet. BoJ eased monetary policy by increasing asset purchase programme by 5 trillion yen ($62 billion) to about 70 trillion yen.

The US markets closed higher on the back of positive earnings reports and encouraging home sales data. The Dow Jones ended up 0.87 percent, the Nasdaq Composite closed 0.69 percent higher and the S&P 500 rose 0.67 per cent.

Source : Economics times

Indian Stock Market : Sensex opens higher; metals, banks, auto gain

The Bombay Stock Exchange's Sensex opened in the positive terrain led by gains in metals, banks and auto sectors. According to dealers, the market may turn choppy later in the day due to lack of support from Asian peers.

At 09:17 a.m., the Bombay Stock Exchange's Sensex was at 17211.14, up 80.47 points or 0.47 per cent. It touched a high of 17216.87 and low of 17134.85 in opening trade.

The National Stock Exchange's Nifty was at 5193.40, up 4.40 points or 0.08 per cent. It touched a high of 5198.30 and low of 5188.90 in trade so far.

The BSE Midcap Index was up 0.49 per cent and the Smallcap Index gained 0.27 percent.

Source : Economics Time

Indian Stock Market : Nifty ends below 5,200; power, realty, auto down

The Nifty ended a dull session below the 5,200 level as traders squared off open positions on the expiry day of April F&O series.

The NSE index ended at 5,191.70, down 10.30 points, or 0.20 percent. It touched an intraday high of 5,215.60 and a low of 5,179.05.

The Sensex closed at 17,134.22, down 17.07 points, or 0.10 percent. It touched an intraday high of 17,193.25 and a low of 17,084.05.

The BSE Midcap Index was down 0.29 percent and the BSE Smallcap Index moved 0.32 percent lower.

Among sectoral indices, the BSE Power Index was down 1.40 percent, the BSE Realty Index declined 0.89 percent and the BSE Auto Index was 0.68 percent lower. The BSE IT Index was up 0.19 percent and the BSE FMCG Index advanced 0.18 percent.



Source : economics times

Indian Stock Market : Sensex lackluster; GAIL, Hero, DLF, Bajaj Auto down

At 12:00 p.m., the Sensex was at 17,147.14, down 4.15 points, or 0.02 percent. It has touched a high of 17,193.25 and a low of 17,101.73 in trade so far.

The Nifty was at 5,200.30, down 1.70 points, or 0.03 percent. It has touched a high of 5,215.60 and a low of 5,183.65 in trade so far.

"On the daily chart, for the second consecutive trading session, we witnessed a narrow range body formation which indicates indecisiveness prevailing at the current level.

If Nifty trades convincingly above the 5,240 level, only then we may witness an upside up to the 5,300 level. On the downside, the 200-day SMA (5,132 level) remains the crucial support level, which if breached on a closing basis a further weakness to 5,050 could be possible in a couple of trading sessions.

We reiterate that traders are advised to maintain a cautious approach towards the market," an Arihant Capital Market report stated.

The BSE Midcap Index was down 0.22 percent and the BSE Smallcap Index moved 0.05 percent lower.

Among sectoral indices, the BSE Auto Index was down 0.64 percent, the BSE Realty Index slipped 0.61 percent and the BSE Power Index declined 0.41 percent. The BSE Metal Index was up 0.50 percent and the BSE IT Index advanced 0.50 percent.

GAIL (2.51%), Hero MotoCorp (2.44%), DLF (1.72%), Bajaj Auto (1.66%) and Hindustan Unilever (1.15%) were the major Sensex losers.

Jindal Steel (3.28%), Tata Steel (1.19%), Infosys Technologies (1.05%), Tata Consultancy Services (0.78%) and ITC (0.53%) were among the major gainers.

The market breadth was positive on the BSE with 1,017 gainers against 1,284 losers.

Foreign institutional investors continue to remain net sellers in Indian equities. On Wednesday, they sold shares worth Rs 340.84 crore, as per provisional data from stock exchanges. In the last three sessions alone, they have sold equities worth Rs 1,609.10 crore.

The rupee pared intraday gains against the US dollar as foreign institutional investors continued to remain cautious on Indian equities. The partially convertible rupee was at 52.52 per dollar, down 2 paise, against a previous close of 52.54. It slipped after touching an intraday high of 52.43.

The Asian markets are also tepid. The Nikkei 225 was up 0.01 percent, the Shanghai Composite edged up 0.21 percent, and the Strait Times inched 0.07 percent higher. 

Source: Economics Times

Indian Stock Market - Nifty lacklustre ahead of April F&O expiry; volatility likely

At 10:00 a.m., the Nifty was at 5,201.45, down 0.55 points, or 0.01 percent. It has touched a high of 5,215.60 and a low of 5,196.65 in trade so far.

The Sensex was at 17,177.74, up 26.45 points, or 0.15 percent. It has touched a high of 17,193.25 and a low of 17,136.71 in trade so far.

The BSE Midcap Index was up 0.18 percent and the BSE Smallcap Index moved up 0.22 percent.

Among sectoral indices, the BSE Realty Index was up 0.34 percent, the BSE Metal Index advanced 0.32 per cent and the BSE IT Index gained 0.27 percent. The BSE Oil & Gas Index was down 0.24 percent and the BSE FMCG Index slipped 0.11 percent.

Grasim (1.39%), M&M (1.07%), Cipla (0.90%), Ambuja Cement (0.90%) and Tata Steel (0.71%) were among the top Nifty gainers.

Jaiprakash Associates (-1.90%), GAIL (-1.62%), HCL Tech (-1.42%), Sterlite Industries (-1.39%) and IDFC (-1.38%) were the major Nifty losers.

The market breadth was positive on the NSE with 693 gainers against 573 losers.

Jittery foreign institutional investors have been exiting Indian markets on GAAR concerns, analysts said. As per provisional data, FIIs sold equities worth Rs 860.77 crore on 24 April 2012 and shares worth Rs 407.49 crore on 23 April 2012.

Foreign institutional investors continue to remain net sellers in Indian equties. On Wednesday, they sold shares worth Rs 340.84 crore, as per provisional data from stock exchanges. In the last three sessions alone, they have sold equities worth Rs 1609.10 crore.

Asian markets are also rangebound. The Nikkei 225 was down 0.15 percent, the Shanghai Composite slipped 0.21 percent, and the Strait Times edged 0.15 percent lower.