Sensex gains 109 pts; banks lead, HCL Tech & TCS tank 9%

Equity benchmarks closed off day's high ahead of Maharashtra and Haryana state elections results that will be announced on Sunday. Indices were directionless since the opening trade but gained strength in last hour of trade to jump as high as 249 points on the Sensex (and to hit 7800 level intraday on positive European cues) before seeing some profit booking in late trade.

The 30-share BSE Sensex climbed 109.19 points to close at 26108.53 and the 50-share NSE Nifty rose 31.50 points to 7779.70 after losing over a percent in previous session.

Experts believe this upmove is not sustainable amid concerns over global growth and consistent selling pressure from foreign institutional investors (FIIs). They advise buying quality stocks on every dip.

Sanjeev Zarbade of Kotak Securities believes the performance of the Indian equities remains contingent on resumption of FII flows.

While Mehraboon Irani expects levels of 7400 to be breached by the market on the downside, he suggests investors to buy into stocks of their choice. He says the global factors will continue to have a significant impact on the market and any negative news may lead to lower rupee levels like 62 against the dollar.

However, reducing inflation, lower commodity prices and expected reforms push remain significant tailwinds for the markets, says Zarbade.

Banks topped the buying list today with the Bank Nifty rising 2.5 percent as top lenders State Bank of India, HDFC Bank and ICICI Bank rallied 2-3 percent while housing finance company HDFC gained 1.7 percent.

Axis Bank rose 2 percent ahead of results that announced post market hours. The private sector lender met street expectations with the second quarter net profit rising 18.3 percent Y-o-Y led by higher other income and net interest income but higher provisions limited profitability. NII jumped 20 percent with stable asset quality.

Two-wheeler maker Hero Motocorp rallied 3 percent on reporting a 58 percent growth in Q2 profits led by other income.

Zee Entertainment gained 3 percent after the company beat expectations on operational front. Earnings before interest, tax, depreciation and amortisation (EBITDA) grew by 3.5 percent to Rs 321 crore and margin expanded by 50 basis points to 28.7 percent on lower operating cost. Analysts had expected both at Rs 320 crore and 27.5 percent, respectively.

Larsen and Toubro, BHEL, Mahindra and Mahindra, Bharti Airtel, Cipla and Tata Power were other prominent gainers with 2-3.4 percent upside.

However, technology stocks saw huge selling pressure with the CNX IT index falling 4 percent. It was a twin blow for the tech sector; TCS tanked nearly 9 percent after dollar revenue growth missed expectations. The company said softness in certain businesses may continue for two more quarters and that meeting FY14 growth will be difficult in FY15.

HCL Technologies too took a hard knock on similar growth worries, falling 9 percent. Dollar revenue for Q1 came in lower than estimate at USD 1,433 million.

Sesa Sterlite, Hindalco, Tata Motors, Wipro and Jindal Steel fell 1-2.8 percent.

About 1335 shares advanced while 1505 shares declined on the Bombay Stock Exchange.

Meanwhile, the Indian rupee recovered sharply, up 39 paise to close at 61.44 a dollar after falling to 7-month low of 61.83 in previous session. Fresh selling of dollars by exporters and banks supported the rupeerecovery.

On the global front, European markets gained more than a 1 percent while Asian markets like Japan and Taiwan Weighted fell another 1-1.5 percent after yesterday's blow. A comment from hawkish Federal Reserve official James Bullard on Thursday that the Fed should continue bond buying lifted sentiment and surprised many observers.
Source : Moneycontrol

Wall Street: US stocks drop amid global equity selloff

NEW YORK: US stocks dropped sharply in early trade Thursday, following international markets downward as anxiety over global growth continued to prompt selling.

About 30 minutes into trade, the Dow Jones Industrial Average stood at 16,062.34, down 79.40 points (0.49 per cent).

The broad-based S&P 500 fell 13.75 (0.74 per cent) to 1,848.74, while the tech-rich Nasdaq Composite Index tumbled 43.05 (1.02 per cent) to 4,172.27.

Equity markets in Britain and France were down more than 1.0 per cent. Asian markets also fell sharply, with Japan's Nikkei tumbling 2.22 per cent.

"Global risk aversion is persisting amid exacerbated global growth concerns, fueled by yesterday's surprising decline in US retail sales," said a market note from Charles Schwab.

"Moreover, a flare-up in Greek debt concerns, festering Ebola fears, and heightened geopolitical concerns are adding to the dampened global mood."

Thursday's declines move the market closer to a full-blown correction, normally considered a drop of 10-20 per cent. The S&P 500 has fallen about eight per cent since its mid-September all-time high.

Investors brushed off positive news, such as a drop in initial jobless claims to 264,000, the lowest level since April 2000, according to the Department of Labor.

Dow member Goldman Sachs fell 2.1 per cent despite reporting a 50 per cent increase in third-quarter earnings to $2.14 billion in results that bested Wall Street expectations by a wide margin.

Video-streaming company Netflix plummeted 22.7 per cent on disappointing subscriber growth figures. The video-streaming company said it gained just three million members in the past quarter, to boost its subscribers to 53.1 million worldwide.

Apple fell 1.5 per cent ahead of an event in California later Thursday at which it is expected to unveil new versions of the iPad.

Chesapeake Energy bolted 13.5 per cent higher following news it will sell shale oil and gas assets to Southwestern Energy for $5.4 billion. Southwestern lost 6.9 per cent.

EBay dropped 4.9 per cent as it projected fourth-quarter revenues of $4.85-$4.95 billion, below analyst forecasts for $5.16 billion. The profit outlook was also on the low end of expectations.

Bond prices were mixed. The yield on the 10-year US Treasury held steady at 2.09 per cent, the same level as Wednesday, while the 30-year stood at 2.87 per cent, down from 2.88 per cent. Bond prices and yields move inversely.

Oil prices briefly dipped below $80 a barrel for the US benchmark contract, before coming back to 80.75, off $1.03 from Wednesday's close.
Source : economictimes

Sensex slumps as recession fears loom over Euro Zone

Foreign institutional investors stepped up selling of Indian stocks on Friday, causing benchmark indices to fall 1.3% on growing concern that the slowdown in the euro zone is far from over.
Investors were also influenced by the heavy sell-off on Wall Street on Thursday after senior US Fed officials said they expect interest rates to rise by mid-2015. Even a sharp decline in oil prices failed to cushion the fall on Friday.

The sell-off resulted in the stock market giving up the previous day's gains, which were sparked by contents of the US Federal Reserve's minutes of September meeting suggesting that the US central bank is not in a hurry to hike interest rates.

"There is total confusion about the direction of the developed economies, which is worrying the markets. In the absence of any domestic triggers, the focus will remain on global events," said Tirthankar Patnaik, director, institutional research, Religare Capital.

BSE's Sensex fell 339.90 points, or 1.28%, to close at 26,297.38. NSE's Nifty dropped 100.60 points, or 1.26%, to close at 7,859.95. Out of the 3,023 stocks traded on the BSE, 1,910 declined, while 998 gained, showing the market breadth was weak.

Metals, consumer goods and auto shares led the sell-off, while technology shares bucked the weak trend after Infosys' second quarter earnings surprised the market. Foreign institutional investors net sold shares worth almost Rs 720 crore on Friday, extending their selling spree to the third straight week worth Rs 3,800 crore. So far in 2014, these investors have net bought shares worth Rs 90,000 crore.

Most Asian markets fell 1-2% on Friday after euro zone's largest economy, Germany, saw a slump in exports, reviving fears that the region may slip into a recession. International Monetary Fund managing director Christine Lagarde warned that the euro zone could fall back into recession if fresh steps are not taken to prevent it. She also said the euro zone is showing the symptoms of Japan's protracted economic slump.

Wall Street had slumped 2% on Thursday after Fed vice chairman Stanley Fisher and San Francisco Fed president John Williams both said they expect higher interest rates by mid-2015. Oil prices fell on worries a slowdown in the global economy would hit demand. Brent crude fell $1.65 to $88.40, levels last seen in November 2010.
Source : economictimes

Sensex ends 390 points up

The Nifty bounced back after three days of decline and closed above 7,950 as sentiment turned bullish in global markets as the US Federal Reserve's indicated interest rates will not be hiked earlier than expected.

The Sensex ended the day at 26,637.28; up 390.49 points.

The Nifty shut shop at 7,960.55; up 117.85 points.

The S&P BSE Midcap Index rallied 1.82 per cent and the S&P BSE Smallcap Index surged 1.54 per cent.

Among the sectoral indices, the S&P BSE Capital goods Index gained 3.01 per cent, the S&P BSE Bankex was 2.41 per cent higher, the S&P BSE Power Index advanced 2.25 per cent and the S&P BSE Metal Index advanced 1.76 per cent.

BHEL (up 8.16 per cent), Hindalco (up 5.51 per cent), Zee Entertainment (up 5.10 per cent), Ambuja Cements (up 3.89 per cent) and Punjab National Bank (up 3.33 per cent) were among the Nifty gainers.

Tech Mahindra (2.55 per cent), Jindal Steel (0.60 per cent), NMDC (0.56 per cent), NTPC (0.49 per cent) and Wipro (0.48 per cent) were among the top losers.

The market breadth was positive on the NSE with 923 gainers against 217 losers.
Source : economictimes

Sensex ends in red on weak global cues : tech, pharma down

The S&P BSE Sensex ended a volatile session on flat-to-negative note as global markets remained under pressure on concerns of global economic growth. Outflows of dollars from emerging markets including India also added to the woes.

The International Monetary Fund has cut global growth forecast and that for emerging market economies as a whole. The IMF expects global economy to grow by 3.8 per cent next year, lower than its July forecast of 4 per cent.

The 30-share index ended at 26,246.79, down 25.18 points or 0.10 per cent. It touched a high of 26,338.31 and a low of 26,150.09 in trade today.

The Nifty closed at 7,842.70, down 9.70 points or 0.12 per cent. It touched a high of 7,869.90 and a low of 7,815.75 in trade today.

The S&P BSE Midcap Index was slipped 0.23 per cent and the S&P BSE Smallcap Index gained 0.06 per cent.

The S&P BSE Capital goods Index gained 1.61 per cent, the S&P BSE Auto Index was 0.58 per cent higher and S&P BSE Bankex advanced 1.09 per cent.

The S&P BSE IT Index fell 3.44 per cent and the S&P BSE Healthcare Index was down 3.27 per cent.

Infosys (4.70 per cent), Dr Reddy's Laboratories (4.37 per cent), Sun Pharma (4.31 per cent), Wipro (4.03 per cent) and Cipla (2.51 per cent) were among the top losers.

Tata Steel (up 3.52 per cent), L&T (up 2.32 per cent), ONGC (up 2.30 per cent), NTPC (up 2.24 per cent) and BHEL (up 2.10 per cent) were among the Sensex gainers.

The market breadth was negative on the BSE with 1343 gainers against 1562 losers.
Source : economictimes

Top ten stocks for 13% to 15% return in next 4-5 days

Top ten stocks for 13% to 15% return in next 4-5 days

1. Dena Bank: BUY in NSE cash above 59.75 with stop loss of 57.40, Target of 62.10,64 .

2. REC: BUY in NSE cash above 257 with stop loss of 244 and a target of 270,280.

3. Jyoti Structures: BUY in NSE cash above 42.15 with stop loss of 40.15 and a target of 44.15, 46.15 .

4. Dish TV: BUY in NSE cash above 55.50 with the stop loss of 53 and a target of 58, 60 .

5. Mahindra & Mahindra: (CMP - 1390, Target - 1450) .

6. HOV Services: (CMP - 153, Target - 170)

7. Yes Bank: (CMP - 557, Target - 585)

8. Jet Airways: (CMP - 212, Target - 225)

9. Apollo Hospitals: (CMP - 1116, Target - 1175)

Sensex ends in green; realty, metals, capital goods up

Indian shares up; Tata Steel rebounds, Unitech down

Indian shares edged 0.2 percent higher early on Wednesday, with Tata Steel rebounding after falling initially.

At 9:17 a.m. (0347 GMT), the 30-share BSE index was up 0.15 percent at 18,301.73 points, with 17 components advancing.

Tata Steel reversed early losses and climbed more than 1 percent. The world's No. 7 steelmaker said late on Tuesday its quarterly net profit more than doubled, driven by demand and pricing in Europe and robust growth at its Indian operations.

But the company lagged estimates as higher raw material costs squeezed margins.

Unitech slipped 2.7 percent after Indian police on Tuesday questioned a top executive of the real estate developer as part of a probe into a telecoms corruption scandal that has roiled politics.

The 50-share NSE index was up 0.04 percent at 5,483.25. 

Nifty choppy; Tata Steel, Ambuja Cement, L&T up

At 10:41 am; National Stock Exchange’s Nifty was at 5490.15, up 9.15 points or 0.17 per cent. The broader index touched a low of 5466.80 and high of 5497.50 in trade so far.

Bombay Stock Exchange’s Sensex was at 18276.37, up 2.57 points or 0.01 per cent. The broader index touched a low of 18238.73 and high of 18349.17 intraday.

“On the daily chart we are observing that prices have marginally closed above the downward sloping channel but have formed a “Doji” pattern. This suggests indecisiveness prevailing at current levels.

In coming trading session if indices trade above 18370 / 5510 levels then they are likely to test 18542 – 18600 / 5566 - 5580 levels. On the downside, 18050 – 17990 / 5400 – 5380 may act as support for the day,” said Angel Broking note.

BSE Midcap Index was up 0.45 per cent and BSE Smallcap Index moved 1.03 per cent higher.

Amongst sectoral indices, BSE Metal Index was up 0.97 per cent, BSE Capital Goods Index gained 0.79 per cent and BSE Healthcare Index gained 0.67 per cent. BSE Realty Index was down 0.81 per cent and BSE Auto Index declined 0.59 per cent.

Tata Steel (3.29%), Ambuja Cement (2.43%), Jindal Steel (2.24%), Jaiprakash Associates (2.07%) and L&T (1.92%) were amongst the major Nifty gainers.

HDFC (-2.51%), IDFC (-2.36%), M&M (-1.69%), Hindalco (-1.41%) and DLF (-1%) were the top losers.

Market breadth was positive on the NSE with 1486 gainers against 772 losers. 

Sensex moves up; realty, metals, capital goods gain

At 12:50 pm; Bombay Stock Exchange’s Sensex was at 18339.72, up 65.92 points or 0.36 per cent. The broader index touched a low of 18216.12 and high of 18358.84 intraday.

National Stock Exchange’s Nifty was at 5495.65, up 14.65 points or 0.27 per cent. The broader index touched a low of 5460.35 and high of 5504.80 in trade so far.

“Yesterday’s market action hints that, Nifty entered into a consolidation zone after 2-days sharp rally. Consolidation is expected sideways between 5400 (which is also a 13-DMA) & 5550. During this consolidation, mid-caps are expected to take charge of market,” said Arihant Capital Market report.

BSE Midcap Index was up 0.51 per cent and BSE Smallcap Index moved 1.07 per cent higher.

Amongst sectoral indices, BSE Realty Index was up 2.13 per cent, BSE Metals Index gained 1.14 per cent and BSE Capital Goods Index gained 0.94 per cent. BSE Auto Index was down 0.19 per cent.

Jaiprakash Associates (4.08%), Tata Steel (2.63%), Jindal Steel (2.30%), Bajaj Auto (1.34%) and L&T (1.30%) were amongst the major Nifty gainers.

M&M (-2.31%), HDFC (-2.18%), Hindalco (-1.69%), Reliance Communications (-1.04%) and Tata Motors (-0.86%) were the top losers.

Market breadth was positive on the BSE with 1636 gainers against 1026 losers. 

Nifty rangebound; JP Asso,Tata Steel,Axis Bank up

At 2:50 pm; National Stock Exchange’s Nifty was at 5489.15, up 8.15 points or 0.15 per cent. The broader index touched a low of 5460.35 and high of 5504.80 in trade so far.

Bombay Stock Exchange’s Sensex was at 18315.84, up 42.04 points or 0.23 per cent. The broader index touched a low of 18216.12 and high of 18358.84 intraday.

BSE Midcap Index was up 0.48 per cent and BSE Smallcap Index moved 0.90 per cent higher. 

Sensex ends in green; realty, metals, capital goods up

Benchmarks ended lackluster session on a positive note due to lack of buying interest at current levels. Meanwhile some retail participation saw midcaps outperforming the frontliners.

Bombay Stock Exchange’s Sensex ended at 18316.44, up 42.64 points or 0.23 per cent. The broader index touched a low of 18216.12 and high of 18358.84 in today’s trade.

National Stock Exchange’s Nifty was at 5487.40, up 6.40 points or 0.12 per cent. The broader index touched a low of 5460.35 and high of 5504.80 intraday.

BSE Midcap Index was up 0.58 per cent and BSE Smallcap Index moved 1.09 per cent higher.

Amongst sectoral indices, BSE Realty Index was up 2.14 per cent, BSE Metals Index gained 1.67 per cent and BSE Capital Goods Index moved 0.44 per cent higher. BSE Healthcare Index was down 0.72 per cent.

Jaiprakash Associates (6.79%), Tata Steel (4.37%), Jindal Steel (3.97%), Wipro (2.99%) and Tata Power (1.74%) were amongst the major Sensex gainers.

HDFC (-2.53%), Reliance Communications (-1.73%), M&M (-1.55%), Hero Honda (-1.24%) and ONGC (-1.18%) were the top losers.

Market breadth was positive on the BSE with 1551 gainers against 1124 losers.

Source: economictimes.indiatimes.com

Nifty ends higher; RCap, RCom, RIL, Kotak, PNB up

Sensex edges up; Reliance Comm, Unitech fall

 Indian shares edged up 0.4 percent in choppy early trade on Tuesday, with financials leading the rise. 

At 9:21 a.m. (0351 GMT), the 30-share BSE index was up 0.39 percent at 18,273.45 points, with 19 components advancing. It had briefly turned negative.

The 50-share NSE index was up 0.2 percent at 5,466.50

Nifty turns choppy; realty, capital goods down

At 9:35 am; National Stock Exchange’s Nifty was flat at 5456.10, up 0.10 points. The broader index touched a low of 5443.85 and high of 5474.45 in trade so far.

Bombay Stock Exchange’s Sensex was at 18199.40, down 2.80 points or 0.02 per cent. The broader index touched a low of 18191.62 and high of 18278.62 intraday.

BSE Midcap Index was up 0.02 per cent and BSE Smallcap Index moved 0.28 per cent higher.

Amongst sectoral indices, BSE Oil&gas Index was up 0.42 per cent, BSE IT Index edged 0.30 per cent higher and BSE Bankex gained 0.15 per cent. BSE Realty Index was down 1.74 per cent and BSE Capital Goods Index declined 0.69 per cent.

BPCL (1.52%), Tata Power (1.09%), Sesa Goa (0.93%), IDFC (0.86%) and Tata Motors (0.81%) were amongst the major Nifty gainers.

Jaiprakash Associates (-3.37%), Reliance Communications (-1.95%), M&M (-1.93%), Reliance Capital (-1.82%) and Hindalco (-1.80%) were the only losers.

Market breadth was positive on the NSE with 1048 gainers against 702 losers. 

Sensex rangebound; RCom, RInfra, ICICI, SBI gain

At 1:15 pm; Bombay Stock Exchange’s Sensex was at 18245.62, up 43.42 points or 0.24 per cent. The broader index touched a low of 18050.48 and high of 18307.44 intraday.

National Stock Exchange’s Nifty was flat at 5471.45, up 15.45 points or 0.28 per cent. The broader index touched a low of 5408.35 and high of 5491.95 in trade so far.

“On the daily chart, we are witnessing that prices have tested the upper trendline of the channel. Any breakout of the channel could lead the indices to test 18400 – 18542 / 5512 – 5566 levels. On the downside, 17871 – 17761 / 5357 – 5322 may act as support for the day,” said Angel Broking note.

BSE Midcap Index was down 0.06 per cent and BSE Smallcap Index moved 0.41 per cent higher.

Amongst sectoral indices, BSE Bankex was up 1.58 per cent, BSE Oil&gas Index edged 0.71 per cent higher. BSE Capital Goods Index fell 1.21 per cent and BSE Realty Index was down 0.76 per cent.

Reliance Communications (5.75%), Reliance Infrastructure (3.09%), ICICI Bank ( 2.31%), Tata Motors (1.83%) and SBI (1.79%) were amongst the major Sensex gainers.

Jaiprakash Associates (-2.46%), M&M (-2.44%), BHEL (-2.16%), TCS (-1.94%) and Hindalco (-1.55%) were the only losers.

Market breadth was positive on the BSE with 1379 gainers against 1298 losers. 

Nifty hits 5500; RCap, RCom, RPower, RIL, Kotak up

 At 3 pm; National Stock Exchange’s Nifty was at 5490.95, up 34.95 points or 0.64 per cent. The broader index touched a low of 5408.35 and high of 5506.50 in trade so far.

Bombay Stock Exchange’s Sensex was at 18307.14, up 104.94 points or 0.58 per cent. The broader index touched a low of 18050.48 and high of 18361.66 intraday.

BSE Midcap Index was up 0.03 per cent and BSE Smallcap Index moved 0.78 per cent higher.

Amongst sectoral indices, BSE Oil&gas Index was up 1.92 per cent, BSE Bankex gained 1.68 per cent higher and BSE Auto Index moved 0.87 per cent higher. BSE Capital Goods Index was down 1.34 per cent and BSE Realty Index declined 0.77 per cent.

Reliance Capital (9.66%), Reliance Communications (5.14%), Reliance Power (3.70%), Kotak Bank (3.16%) and Reliance Industries (2.96%) were amongst the major Nifty gainers.

Jaiprakash Associates (-3.37%), Hindalco (-3.06%), BHEL (-2.24%), DLF (-1.95%) and L&T (-1.55%) were the only losers.

Market breadth was positive on the NSE with 1602 gainers against 1213 losers. 

Sensex ends in green; RCom, RIL, Tata Motors gain

Benchmarks ended in the green for third consecutive day as investors accumulated index heavy-weights at lower levels. Losses in capital goods, realty and IT space were offset by gains in oil&gas, banks and auto sotcks.

Bombay Stock Exchange’s Sensex ended at 18271.21, up 69.01 points or 0.38 per cent. The broader index touched a low of 18050.48 and high of 18361.66 intraday.

National Stock Exchange’s Nifty closed at 5478.55, up 22.55 points or 0.41 per cent. The broader index touched a low of 5408.35 and high of 5506.50 in trade so far.

BSE Midcap Index was down 0.19 per cent and BSE Smallcap Index moved 0.60 per cent higher.

Amongst sectoral indices, BSE Oil&gas Index was up 1.81 per cent, BSE Bankex gained 1.47 per cent higher and BSE Auto Index moved 0.80 per cent higher. BSE Capital Goods Index was down 1.83 per cent and BSE Realty Index declined 1.65 per cent.

Reliance Communications (3.59%), Tata Motors (3.01%), Reliance (2.98%), Tata Power (2.31%) and Bajaj Auto (2.26%) were amongst the major Sensex gainers.

DLF (-3.24%), Jaiprakash Associates (-3.09%), Hindalco (-2.89%), BHEL (-2.45%) and L&T (-2.38%) were the top index losers.

Market breadth was positive on the BSE with 1389 gainers against 1291 losers. 

15 Feb, 2011, 04.47PM IST,PTI

Sensex extends gain for third session; ends 72 points up

In volatile trading, the BSE benchmark Sensex today surged for the third session in a row, rising almost 72 points to close at 18,273.80 on capital inflow by foreign funds as blue-chips, led by RIL, were available at attractive values.

The Bombay Stock Exchange benchmark Sensex, which gained nearly 740 points in the previous two sessions, gathered another 71.60 points to 18,273.80 supported by a strong comeback by most-weighed Reliance Industries stocks.

The gauge moved between 18,361.66 and 18,050.48 during the session, showing volatile movements in stocks.

In a similar fashion, the broad-based National Stock Exchange index Nifty shot up 25.00 points to 5,481.00 after crossing the psychological mark of 5,500 points to touch the session's high of 5,506.50 and a low of 5,408.35.

Brokers said that apart from sustained buying by foreign funds and retail investors, hectic short-covering in the recently beaten oil and gas, banking and auto sector stocks was also responsible for the ongoing rally on the market.

RIL, which had been trading in the negative zone for the past several sessions, bounced back on emergence of buying at prevailing levels and ended 2.90 per cent to Rs 941.75.

Tata Power, the largest power producer in the private sector, gained 2.14 per cent to Rs 1,267.90 on a flurry of buying, triggered by a three-fold increase in net profit for the third quarter ended December 31, 2010, while State Bank of India , country's biggest lender, surged 1.38 per cent to Rs 2,728.40.

Tata Motor shares ended 2.41 per cent higher at Rs 1,237.85 after its global sales increased 16 per cent in January.

The oil and gas sector gained the most, up 1.85 per cent at 9,497.05, followed by banking index that was up by 1.53 per cent to 12,429.32. The PSU index gained 1.10 per cent to 8,637.79, auto index by 0.71 per cent to 8,875.58 and power index by 0.14 per cent to 2,639.59 points.

However, capital goods sector index which had been rising in the past two sessions, fell by 1.75 per cent to 13,068.59 as BHEL and Larsen and Toubro succumbed to profit-booking. The realty sector index also shed 1.33 per cent to 2,112.90 and the IT sector Index closed lower by 0.40 per cent to 6,245.08. 

Nifty ends higher; RCap, RCom, RIL, Kotak, PNB up

Benchmarks ended in the positive terrain for third consecutive day as investors bought frontline stocks at relatively lower levels. Losses in capital goods, realty and IT space were offset by gains in oil&gas, banks and auto sotcks. According to analysts, the market is likely to remain volatile in the run-up to budget session.

Markets opened higher tracking cues from Asian peers and turned choppy due to lack of buying activity. However, by afternoon some smart hands bought stocks of ADAG group companies and index heavy weight Reliance Industries. This helped the benchmarks to breach psychological resistance levels intraday. Oil&gas, banks and auto space ended higher while capital goods and realty stocks lagged behind.

National Stock Exchange’s Nifty closed at 5481, up 25 points or 0.46 per cent. The broader index touched a low of 5408.35 and high of 5506.50 in today’s trade.

Bombay Stock Exchange’s Sensex ended at 18273.80, up 71.60 points or 0.39 per cent. The broader index touched a low of 18050.48 and high of 18361.66 intraday.

“We are in a pull-back rally and it can take the Nifty upto 5750-5800 levels. However, the rally is not likely to last long long and the recent support levels may be challenged. From short term perspective we see potential of 10-15 per cent upmove in small banking counters like Vijaya Bank and Dena Bank ,” said Dwaipayan Poddar, technical analyst, LKP Shares .

BSE Midcap Index was down 0.07 per cent and BSE Smallcap Index ended 0.59 per cent higher.

Amongst sectoral indices, BSE Oil&gas Index was up 1.85 per cent, BSE Bankex gained 1.53 per cent higher and BSE Auto Index moved 0.71 per cent higher. BSE Capital Goods Index was down 1.75 per cent and BSE Realty Index declined 1.33 per cent.

Reliance Capital (8.22%), Reliance Communications (3.85%), Punjab National Bank (3.46%), Kotak Bank (3.23%) and Reliance Industries (2.94%) were amongst the major Nifty gainers.

Jaiprakash Associates (-3.31%), DLF (-3.20%), Hindalco (-3.03%), BHEL (-2.78%) and L&T (-2.36%) were the top index losers.

Market breadth was positive on the NSE with 1587 gainers against 1298 losers. 

Source ET

Nifty tanks below 5400; Realty, FMCG, tech decline

Sensex down 0.3 per cent, ICICI Bank drops

Indian shares fell 0.3 percent in early trade on Friday, led by losses in No. 2 lender ICICI Bank , on lingering worries about surging inflation and interest rates in Asia's third-largest economy.

The main 30-share BSE index was trading 0.3 percent down at 18,394.60 points by 0350 GMT, with 21 of the components in the red.

The broader 50-share NSE index was down 0.2 percent at 5,514.25. 

Nifty rangebound; RPower, Tata Steel, IDFC up

At 9:45 am: Bombay Stock Exchange’s Sensex was at 18,421.33, down 27.98 points or 0.15 per cent. The 30-share index touched a low of 18351.93 and high of 18450.07 in trade so far.

National Stock Exchange’s Nifty was at 5528.55, up 1.80 points or 0.03 per cent. The 50-share index touched a low of 5502.10 and high of 5529.45 in trade so far.

“The market has short-term upside risk that can last up to the 200-SDMA at 5626 from where fresh selling is likely to occur. Sectoral trends were mixed on the back of relief rallies across various counters,” said Edelweiss report.

BSE Midcap Index was up 0.53 per cent and BSE Smallcap Index edged 0.52 per cent higher.

Amongst the sectoral indices, BSE Metal Index gained 1 per cent, BSE Bankex moved 0.27 per cent higher and BSE Auto advanced 0.16 per cent. BSE IT Index was down 0.62 per cent and BSE FMCG Index slipped 0.51 per cent.

Reliance Power (2.57%), Reliance Capital (1.93%), Tata Steel (1.85%), Tata Motors (1.75%), and IDFC (1.64%) were the top Nifty gainers.

HCL Tech (-1.28%), Ambuja Cement (-1.24%), M&M (-1.20%), Cairn India (-1.08%) and Hindustan Unilever (-1.06%) were the top losers.

Market breadth was positive on the NSE with 993 gainers against 648 losers.

Sensex volatile; FMCG, realty, oil&gas decline

At 11:15 am; Bombay Stock Exchange’s Sensex was at 18340.46, down 108.85 points or 0.59 per cent. The 30-share index touched a low of 18336.79 and high of 18542.20 in trade so far.

National Stock Exchange’s Nifty was at 5,498.75, down 28 points or 0.51 per cent. The 50-share index touched a low of 5498.40 and high of 5556.30 in trade so far.

“The Nifty breached short term resistance of 5470 and closed above 5500. Some short covering is expected around 5550, which may take the Nifty to 5570. A close above 5650 might just shore up investor confidence. However, any major up-trend will take a while to develop and won’t be without hiccups. Resistance is likely at 5600 and later around 5700-5750.

Be careful as the undertone remains jittery and avoid getting hit by intraday volatility. FII flows will continue to have a bearing on overall sentiment and so will the upcoming budget,” said IIFL report.

BSE Midcap Index was up 0.35 per cent and BSE Smallcap Index moved 0.35 per cent higher.

Amongst the sectoral indices, BSE FMCG Index fell 1.19 per cent, BSE Realty Index was down 0.98 per cent and BSE Oil&gas Index declined 0.86 per cent. BSE Metal Index gained 0.61 per cent and BSE Healthcare Index advanced 0.20 per cent.

Sensex losers included M&M (-2.61%), DLF (-1.80%), ITC (-1.66%), TCS (-1.57%) and L&T (-1.43%).

Bajaj Auto (1.92%), Tata Steel (1.58%), Tata Motors (1.49%), Jindal Steel (1.48%) and ONGC (0.92%) were the top gainers.

Market breadth was positive on the BSE with 1444 gainers against 1083 losers.

Sensex falls 1 pc; Reliance Industries drops

 By 12:18 p.m. (0648 GMT), the 30-share BSE index was down 0.93 percent at 18,277.84 points, with 20 of its components in the negative zone. The index started marginally negative and then rose as much as 0.5 percent.

"There is no fresh money coming into the market as investors prefer to stay on the sidelines on Egypt and inflation worries," said Arun Kejriwal, director of research firm KRIS. "Rising oil prices have added to the poor sentiment in the markets."

Oil was headed for a second straight week of gains as Egypt's volatile situation kept markets on edge ahead of Friday prayers, while investors awaited U.S. employment data expected to give direction to prices later in the day.

The BSE index is down more than 11 percent in 2011, hit by foreign fund outflows of $1.5 billion, after rising 17 percent last year.

Data on Thursday showed India's food price index rose 17.05 percent and the fuel price index climbed 11.61 percent in the year to Jan. 22.

Shares in energy major Reliance, India's largest listed company, was down 1.8 percent at 927 rupees. The company may challenge Chevron's bid for Atlas Energy, according to a letter disclosed by the U.S. natural gas producer.

Cement makers Ambuja Cements and ACC fell as much as 1.8 percent and 2.4 percent, respectively, after they met estimates for 2010 earnings, but said oversupply and rising input costs would keep margins under pressure in the short term.

Both companies, 46 percent-owned by Switzerland's Holcim, said they continued to bet on long-term demand growth from India's housing and infrastructure sectors, but growing excess supply would result in pricing pressure in the near term.

Reliance Power rose 2.3 percent to 133.30 rupees, after the utility said one of its power project had got approval for carbon credits estimated at more than 20 billion rupees ($439 million) over a 10-year period.

In the broader market, there were 1,356 gainers compared with 1,204 losers on low volume of about 110 million shares.

Nifty slips below 5450; M&M, TCS, L&T, HCL down

At 1:10 pm; National Stock Exchange’s Nifty was at 5447.85, down 78.90 points or 1.43 per cent. The 50-share index touched a low of 5439.50 and high of 5556.30 in trade so far.

Bombay Stock Exchange’s Sensex was at 18202.94, down 246.37 points or 1.34 per cent. The 30-share index touched a low of 18157.77 and high of 18542.20 in trade so far.

BSE Midcap Index was down 0.32 per cent and BSE Smallcap Index moved 0.49 per cent lower.

All the sectoral indices were in the red. BSE Realty Index fell 1.84 per cent, BSE IT Index was down 1.69 per cent and BSE FMCG Index slipped 1.59per cent.

M&M (-3.28%), Tata Power (-2.82%), TCS (-2.51%), L&T (-2.49%) and HCL Tech (-2.38%) were amongst the top Nifty losers.

Bajaj Auto (2.41%), Suzlon Energy (1.23%), Reliance Power (0.96%), Tata Steel (0.72%) and Tata Motors (0.29%) were the top gainers.

Market breadth was negative on the NSE with 1583 declines against 1108 gainers. 

 

At 3:25 pm; National Stock Exchange’s Nifty was at 5382.25, down 144.50 points or 1.43 per cent.

Bombay Stock Exchange’s Sensex was at 17988.60, down 460.71 points or 1.34 per cent.

M&M , Tata Power, TCS, L&T and HCL Tech were amongst the top Nifty losers.

Bajaj Auto, Suzlon Energy, Reliance Power , Tata Steel and Tata Motors were the top gainers.  

Sensex plunges 445 points; realty,capital goods down

Bombay Stock Exchange’s Sensex ended at 18001.92, down 447.39 points or 2.42 per cent. The 30-share index touched a low of 17926.98 and high of 18542.20 intraday.

National Stock Exchange’s Nifty closed at 5388.95, down 137.80 points or 2.49 per cent. The 50-share index touched a low of 5369.05 and high of 5556.30 in today’s trade.

BSE Midcap Index was down 1.52 per cent and BSE Smallcap Index moved 1.72 per cent lower.

BSE Realty Index fell 3.69 per cent, BSE FMCG Index was down 2.81 per cent and BSE Capital Goods Index slipped 2.39 per cent.

M&M (-4.36%), ITC (-4.23%), Reliance Infrastructure (-4.04%), Tata Power (-3.80%) and L&T (-3.61%) were amongst the top Sensex losers.

Bajaj Auto (0.95%) was the only gainer.

Market breadth was negative on the BSE with 1743 declines against 1026 gainers.  

Nifty tanks below 5400; Realty, FMCG, tech decline

National Stock Exchange’s Nifty ended at 5395.75, down 131 points or 2.37 per cent. The 50-share index touched a low of 5369.05 and high of 5556.30 in today’s trade.

Bombay Stock Exchange’s Sensex closed at 18008.15, down 441.16 points or 2.39 per cent. The 30-share index touched a low of 17926.98 and high of 18542.20 intraday.

”As long as Nifty is below 5470 the trend will remain bearish and we may even slip to 5250. Only if it breaches 5470 on closing basis, immediate trend may possibly change to sideways” said, Rizwan Khan, Technical and Derivative Strategist, Aditya Birla Money.

BSE Midcap Index was down 1.37 per cent and BSE Smallcap Index moved 1.57 per cent lower.

According to experts the market is likely to drift further down in coming sessions and investors can start nibbling stocks at attractive levels.

“We have been buying in small quantities in capital goods, infrastructure and banks and will start looking at auto stocks after some more correction. Investments will be for longer term,” said Ambareesh Baliga, vice president, Karvy Stock Broking.

BSE Realty Index fell 3.37 per cent, BSE FMCG Index was down 3.08 per cent and BSE IT Index slipped 2.26 per cent.

Sun Pharma (-5.79%), Kotak Bank (-4.97%), Ambuja Cement (-4.51%), M&M (-4.34%) and Hindalco (-4.19%) were amongst the top Nifty losers.

Bajaj Auto (0.99%) was the only gainer.

Meanwhile shares of Spicejet and DB Realty plunged on reports that these companies are under CBI scanner for dealings with people related to DMK chief M Karunanidhi.

The low cost airline SpiceJet was purchased by media czar and Sun TV promoter Kalanithi Maran. He is the grand nephew of DMK chief M Karunanidhi and brother of Union Textiles Minister Dayanidhi Maran.

Investigating agencies probing the alleged irregularity in allocation of 2G licences are examining a transaction in which over Rs 200 crore was transferred from Mumbai-based DB group to Kalaignar TV , a broadcaster majority-owned by family members of DMK party chief M Karunanidhi.

Market breadth was negative on the NSE with 2011 declines against 876 gainers.  

S&P 500 ends lower after recent gain

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

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

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

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

 ET

Dow Jones above 12k after 2 years

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

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

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

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

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

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

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

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

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

source : Bloomberg