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.