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