Sensex surges 324 points; Metal, Bankex, Realty lead banknifty.com

DATE: 07/09/2012  

Indian equities rallied further on ECB bond buying plan and broad based buying seen in metals, banking, realty and oil & gas stocks.   

Sensex was trading up 323.56 points or 1.87% at 17,669.83 with 30 components gaining. Meanwhile, the Nifty was trading higher by 94.45 points or 1.80% at 5,332.85 with 48 components gaining.

The 30-share benchmark index, BSE Sensex opened with a gain of 229.52 points or 1.32% at 17,575.79, while the broad based NSE Nifty started with a rise of 71.05 points or 1.36%, at 5,309.45.

Sensex Movers

Reliance Industries contributed rise of 53.38 points in the Sensex. It was followed by ICICI Bank (52.65 points), Housing Development Finance Corporation (28.84 points), Infosys (23.05 points) and Tata Motors (20.81 points).

However, ACC contributed fall of 0.63 points in the Sensex. It was followed by Hero Motocorp (0.95 points), Reliance Communications (1.52 points), Wipro (1.65 points) and Tata Power Company (2.08 points).

All shares in the Sensex pack are trading in green. Biggest gainers were Tata Steel (4.79%), ICICI Bank (4.17%), Tata Motors (3.93%), Reliance Industries (3.45%), Hindalco Industries (2.51%), and Bajaj Auto (2.32%).

Mid & Small-cap Space

The BSE Mid and small caps underperformed their larger counterparts gaining 1.20% and 0.85% respectively.

The major gainers in the BSE Midcap were Allcargo Logistics (2.35%), CORE Education and Technologies (1.74%), AIA Engineering (1.27%), Alstom India (0.61%) and ABG Shipyard (0.49%).

The major gainers in the BSE Smallcap were Trident (5.26%), ABG Infralogistics (1.44%), A2Z Maintenance & Engineering Services (1.28%), Aanjaneya Lifecare (0.95%) and Aarti Industries (0.07%).

Sectors in Limelight

The Metal index was at 9,704.09, up by 213.87 points or by 2.25%. The major gainers were Hindalco Industries (2.51%), Hindustan Zinc (1.91%), Jindal Steel & Power (1.72%), Bhushan Steel (0.68%) and Coal India (0.6%).

The Realty index was at 1,538.74, up by 32.35 points or by 2.15%. The major gainers were DLF (3.65%), Housing Development and Infrastructure (2.69%), DB Realty (2.44%), Indiabulls Real Estate (2.06%) and Anant Raj Industries (1.38%).

The Bankex index was at 11,585.91, up by 234.03 points or by 2.06%. The major gainers were Canara Bank(2.25%), Bank Of India (1.99%), Bank Of Baroda (1.35%), Federal Bank (1.06%) and HDFC Bank (0.58%).

The Capital Goods index was at 9,445.17, up by 190.17 points or by 2.05%. The major gainers were ABB (1.98%), AIA Engineering (1.27%), Bharat Electronics (0.98%), Alstom India (0.61%) and BEML (0.39%).

Market Breadth

Market breadth was positive with 1,711 advances against 912 declines.

Value and Volume Toppers

United Spirits topped the value chart on the BSE with a turnover of Rs. 671.90 million. It was followed by State Bank Of India (Rs. 352.82 million), Tata Steel (Rs. 305.72 million) and ICICI Bank (Rs. 280.59 million).

The volume chart was led by Mercator with trades of over 2.31 million shares. It was followed by Cals Refineries (2.05 million), Jain Irrigation Systems (1.81 million) and Gujarat State Petronet (1.57 million).

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sensex & Nifty surge on ECB action, US jobs data banknifty.com

DATE: 07/09/2012  

MUMBAI: The Nifty was comfortably placed above 5,300 after a gap-up opening following a rally in Asian markets after the European Central Bank outlined its bond-buying scheme to contain its debt crisis. A better than expected US jobs data also provided support.

"European Central Bank President Mario Draghi outlined the central bank's highly anticipated bond purchasing program. The Labor Department's report which showed a bigger than expected drop in first-time claims for unemployment benefits in the week ended September 1st added to the positive sentiment," said Angel Broking in a note.

At 09:50 a.m; the Nifty was at 5,315.35, up 76.95 points or 1.47 per cent. The broader index touched a high of 5,324.40 and a low of 5,315.35.

The Sensex was at 17,602.47, up 256.20 points or 1.48 per cent. It touched a high of 17,636.13 and a low of 17,575.79 in trade today.

"Market internals indicate relatively lower volumes and a balanced A/D ratio. Even the volatility dropped off a bit owing to a rather tight trading range," said an Edelweiss report. "Momentum oscillators on the hourly chart continue to diverge positively, along with an oversold stochastic oscillator. Expect Nifty to hold its key pivot of 5,200 and exhibit counter-trend rally upto 5,300 / 5,330 in the immediate near-term within an establish downtrend."

The BSE Midcap Index was up 1.11 per cent and the BSE Smallcap Index moved 0.97 per cent higher.

Among the sectoral indices, the BSE Metal Index was up 1.94 per cent, the BSE Bankex gained 1.88 per cent, the BSE Oil & Gas Index moved 1.75 per cent higher and the BSE Realty Index moved 1.57 per cent higher.

ICICI Bank (3.42%), Tata Steel (3.36%), Tata Motors (3.30%), Jaiprakash Associates (2.61%) and Sterlite Industries (2.51%) led the gainers pack.

Hero MotoCorp (0.06%) was the only Nifty loser.

The market breadth was positive on the NSE with 1,061 gainers against 275 losers.

The foreign institutional investors bought equities worth Rs 166.58 crore on Wednesday, as per provisional data from the NSE.

The Asian markets were sharply higher on expectations of further liquidity inflow after the ECB meet. The Nikkei 225 was up 1.96 per cent, the Hang Seng rallied 2.37 per cent, the Taiwan Weighted gained 1.47 per cent and the Kospi moved 2.27 per cent higher.

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Sensex jumps 325 pts on ECB move banknifty.com

Sensex jumps 325 pts on ECB move

DATE: 07/09/2012  

Indian equities rallied on Friday after the ECB meeting. Oil & gas, metal and banking stocks gained ground.  

European Central Bank announced an unlimited bond-buying program to reduce the borrowing costs for the region`s most indebted nations, boosting demand for riskier assets.

Sensex was trading up 325.15 points or 1.87% at 17,671.42 with 30 components gaining. Meanwhile, the Nifty was trading higher by 94.20 points or 1.80% at 5,332.60 with 50 components gaining.

The 30-share benchmark index, BSE Sensex opened with a gain of 229.52 points or 1.32% at 17,575.79, while the broad based NSE Nifty started with a rise of 71.05 points or 1.36%, at 5,309.45.

Sensex Movers

ICICI Bank contributed rise of 47.41 points in the Sensex. It was followed by Reliance Industries (42.02 points), Housing Development Finance Corporation (27.11 points), Infosys (22.48 points) and Larsen & Toubro (20.3 points).

However, ACC contributed fall of 0.34 points in the Sensex. It was followed by Reliance Communications (1.52 points), Hero Motocorp (1.52 points), Wipro (1.79 points) and NTPC (1.94 points).

All shares in the Sensex are trading in green. Major gainers were Tata Steel (4.18%), ICICI Bank (3.78%), Tata Motors (3.71%), Hindalco Industries (2.65%), Reliance Industries (2.55%), and Bajaj Auto (2.39%).

Mid & Small-cap Space

The BSE Mid and small caps underperformed their larger counterparts gaining 1.26% and 1.10% respectively.

The major gainers in the BSE Midcap were CORE Education and Technologies (1.3%), Alstom India (1.11%), A B G Shipyard (1.05%), Allcargo Logistics (0.83%) and A I A Engineering (0.54%).

The major gainers in the BSE Smallcap were Trident (4.68%), Styrolution ABS (India) (2.28%), A2Z Maintenance & Engineering Services (1.79%), Action Construction Equipment (1.41%) and Aarti Industries (0.74%).

Sectors in Limelight

The Metal index was at 9,703.44, up by 213.22 points or by 2.25%. The major gainers were Hindalco Industries (2.65%), Jindal Steel & Power (2.15%), Hindustan Zinc (1.63%), Bhushan Steel (0.83%) and Coal India (0.7%).

The Oil & Gas index was at 8,372.89, up by 180.25 points or by 2.20%. The major gainers were Gujarat State Petronet (2.08%), G A I L (India) (1.73%), Hindustan Petroleum Corporation (1.49%), Bharat Petroleum Corporation (1.26%) and Cairn India (1.12%).

The Bankex index was at 11,597.16, up by 245.28 points or by 2.16%. The major gainers were Bank Of India(2.33%), Canara Bank (1.88%), Bank Of Baroda (1.85%), Federal Bank (1.25%) and H D F C Bank (0.92%).

The Auto index was at 9,488.44, up by 181.30 points or by 1.95%. The major gainers were Bajaj Auto (2.39%), Ashok Leyland (1.45%), Exide Industries (1.23%), Bharat Forge (1.21%) and Hero Motocorp (0.71%).

Market Breadth

Market breadth was positive with 1,679 advances against 702 declines.

Value and Volume Toppers

United Spirits topped the value chart on the BSE with a turnover of Rs. 457.27 million. It was followed by State Bank Of India (Rs. 252.93 million), Tata Steel (Rs. 193.61 million) and ICICI Bank (Rs. 149.89 million).

The volume chart was led by Mercator with trades of over 2.14 million shares. It was followed by Kingfisher Airlines (1.04 million), Cals Refineries (0.93 million) and IFCI (0.92 million).

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Sensex flat; Infosys, ICICI, Axis Bank rebound

DATE: 06/09/2012  

The BSE Sensex and NSE Nifty started off Thursday trade on a flat note as investors seem to be more in the wait and watch mode ahead of a meeting of European Central Bank today evening.

The BSE benchmark was down just 0.52 point at 17,312.82 and the NSE benchmark fell 2.35 points to 5,223.35.

Asian markets were mixed and yesterday US markets too were listless at close. ECB chairman Mario Draghi will address press conference today at 18 hours IST. Some market experts feel he may go for more short-term bond buying plan and may also cut refinancing rate, but others said it would be a non-event.

Andrew Benito of Goldman Sachs expects the ECB to reiterate its preparedness to buy short-dated govt debt which will be dependent on requests for EFSF & ESM support. "The risk is that today's announcements will fall short of expectations," he adds.

Back home, BHEL, Ranbaxy, Sun Pharma, Dr Reddy's Labs, Bank of Baroda, PNB, Kotak Mahindra Bank, IDFC, L&T, NTPC, TCS and ITC were down in early trade.

Yesterday's badly beaten down stocks saw buying interest today. Infosys bounced back with 1.8% gains. ICICI Bank was up 1%.

Axis Bank rose 0.8% as the research firm Nomura has put a buy rating on the stock with a target of Rs 1200. "The bank hasn't seen any signs of higher stress in any particular sector but has indicated that there might be some lumpiness in corporate restructuring," says Nomura report.

Sterlite, Hindalco, JP Associates and Jindal Steel & Power too rebounded.

The CNX Midcap Index was flat, though the market breadth was in favour of advances.

In the second line shares, West Coast Paper lost more than 3% despite the news that US-based International Paper is eyeing the company with deal around Rs 800-1200 crore, reports CNBC-TV18 quoting The Economic Times. 

Crompton Greaves, Tata Global Beverage, Shasun Pharma, Dish TV and S Kumars Nationwide were up nearly 1%. Traders' favourite Delta Corp was up 3%.

Deccan Chronicle tanked 4%.

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