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Markets rise to 2-year closing highs on European lead

free stock tips — Fri, 23 Jul 2010 04:40:00 +0000

Investor focus remains on the results of the European banks’ financial strength due on Friday

Indian shares gained 0.8% on Thursday to their highest close in nearly 2-years, tracking European markets which reversed early losses as banks in the continent gained ahead of their stress test results.

Investor focus remains on the results of the European banks’ financial strength due on Friday. For stories on the stress tests.

Indian market had opened lower, after US Federal Reserve chairman Ben Bernanke on Wednesday painted a gloomy outlook for the US economy. Bernanke said the Fed stood ready to ease monetary policy further if the budding US economy recovery withers, describing the outlook as “unusually uncertain”.

Cigarette-to-hotel business ITC topped the gains and climbed 1.6% to 297.60 rupees, after it said its June quarter net profit rose 22%.

Financials shrugged off worries over a likely rate hike at the central bank’s monetary policy review on Tuesday and marched ahead on expectations of robust economic growth which would spur loan demand.

A majority of economists expect the Reserve Bank of India to raise key interest rates by 25 basis points in its quarterly review on 27 July and tighten policy further in coming quarters, a new Reuters poll showed earlier this week.

Top lender State Bank of India gained 1.8% while leading private-sector lenders ICICI Bank and HDFC Bank climbed 0.7% and 1.1% respectively.

The 30-share BSE index closed 0.76% or 135.92 points higher at 18,113.15, its best close since February 2008. Twenty-five of its components advanced.

In the broader market, gainers outpaced declining shares in the ratio of 1.1:1 in a relatively lower volume of 374 million shares.

So far in 2010, foreign funds have invested a net of $8.8 billion in Indian shares, driving the benchmark up 3.7%.

“Mood in Europe improved after good UK retail sales data. Also, there are expectations being built that the European banks’ stress test results will not be a big issue,” said Anish Marfatia, head of sales – trading at Avendus Securities.

The 50-share NSE index, or Nifty, rose 0.8% to 5,441.95 points.

“If global cues turn better, Nifty has the leeway to rise to 5,550 points,” Marfatia said.

For the month to date, the BSE index rose 2.3% but it has underperformed MSCI’s index of Asia ex-Japan shares and emerging markets index which have climbed 4.2% and 6.1% respectively.

Oil and Natural Gas Corp rose 0.6% after Oil Minister Murli Deora told Reuters the state-run explorer and PetroVietnam are considering a joint bid for BP’s stake in an offshore Vietnam gas field.

Bajaj Auto, India’s second-largest motorcycle maker, raced 3.2% as it met forecasts with a doubling in quarterly profit and analysts expect margins to improve on rising sales and lower wage-related expenses.

The stock is only 1.4% away from its all-time high. ACC, 46%-owned by Switzerland’s Holcim, dropped 1.1% as the country’s No. 2 cement producer said its June quarter net profit declined by 26%.

Dr Reddy’s Laboratories, India’s No. 2 drugmaker by sales, fell 1.7% after its consolidated quarterly profit dipped a more-than-expected 14.3% following a drop in sales in its key US market.

Mobile operator Idea Cellular rose 1.1% ahead of its earnings announcement. After the session ended, Idea said its June-quarter net profit dipped 32%.

Third-largest software exporter Wipro closed 0.1% ahead of its quarterly earnings expected before market hours on Friday.

At 4:12pm, the pan-European FTSEurofirst 300 index of top shares was up 1.4% while Asian shares other than Japan were trading barely changed.

STOCKS

United Breweries jumped 20% to Rs282.80 after the top beer maker said late Wednesday its net profit soared to Rs761.30 million in June quarter, compared with 355 million rupees a year ago.

Software services firm Mastek tumbled 8.1% to Rs271.45 after it posted a net loss of Rs13 million in the June quarter, weighed down by forex losses and higher costs.

State-run Power Grid Corp rose 1.6% to Rs101.45 after India’s cabinet approved a proposal for a 20% share sale in the country’s central transmission utility.

Non-ferrous metals producer Sterlite Industries rose 1.6% to Rs176 as copper prices hit a near two-month high.

Markets rise to 2-year closing highs on European lead is a post from: Indian Stock Market Tips

Sensex ends with modest gains; TCS surges 6%

free stock tips — Fri, 16 Jul 2010 10:55:00 +0000

The benchmark Nifty has seen a consolidation for third consecutive day and closed with modest gains on Friday, led by technology, telecom, realty, select oil & gas and financial companies’ shares.

However, the sell-off in Reliance Industries , HDFC, HDFC Bank, GAIL, ITC, M&M, Reliance Power, Ambuja Cements, Siemens, Sun Pharma , Tata Power and Power Grid Corporation along with metal companies’ shares capped the gain to larget extent.

The 30-share BSE Sensex closed at 17,955.82, up 46.36 points and the 50-share NSE Nifty rose 15.15 points to 5,393.90. Even European markets were quite supportive; CAC, DAX and FTSE were trading 0.5-0.9% higher, at the time of closing of Indian equities.

Market breadth was positive; about 1745 shares advanced while 1411 shares declined on BSE. Nearly 177 shares remained unchanged.

Everonn Education, TCS, BF Utilities, IFCI, TCS, Tata Motors and Axis Bank were the most active shares on exchanges.

In the midcap space, UTV Software, Edelweiss Capital, Rallis India, Tulip Telecom and Rajesh Exports rallied 5.5-8% while Honeywell Automation (post disappointing numbers – profit slipped by Rs 10 crore), Sterlite Tech, Graphite India, Bayer Cropscience and JSL lost 2.3-6.5%.

In the smallcap space, Everonn Education surged 13.27%, Nikhil Gandhi promoter of Pipavav Shipyard may pick up stake in company, reports CNBC-TV18 quoting sources.

Standard Industries, Ramsarup Inds, Kirloskar Ferro and Hindustan Motors (Mitsubishi Motors plans to buy company’s South India plant, reports CNBC-TV18 quoting DowJones) went up 9-10%.

However, NESCO, Elpro Intl, GMR Industries, Manaksia and BL Kashyap declined 4-6%.

Markets reported total turnover of Rs 80,118.83 crore. This included Rs 13,399.93 crore from NSE cash segment, Rs 62,439.33 crore from NSE F&O and the balance Rs 4,279.57 crore from BSE cash segment.

At 14.35 hrs IST, the Sensex was trading choppy in a narrow band of 20 points. The action was mainly seen in the broader markets. Heavy buying was seen in IT, telecom and banking stocks. Oil&gas, metal and power stocks were trading weak today. BSE Midcap and Smallcap index were up 0.4% and 0.7% respectively.

The Sensex was up 29.19 points or 0.16% at 17938.65, and the Nifty was up 7.25 points or 0.13% at 5386.00. About 1739 shares advanced, 1268 shares declined, and 325 shares remain unchanged.

In the largecap space, TCS was the top gainer with 7% gains. HCL Tech, Kotak Mahindra, Tata Motors and IDFC were up 2-4%. On the losing side, Ambuja Cements, GAIL, Mahindra and Mahindra, HDFC Bank and HDFC were down 1-2%.

Index heavyweight Reliance was trading at Rs 1,066.00 down 0.65% from its previous close of Rs 1,072.95. Tech major Infosys was trading at Rs 2,771.65 up 0.46% from its previous close of Rs 2,758.95. Refinery major HPCL was trading at Rs 448.10 up 0.56% from its previous close of Rs 445.60.

Hindustan Lever was trading at Rs 264.85 up 0.63% from its previous close of Rs 263.20. Cigarette major ITC was trading at Rs 297.50 down 0.6% from its previous close of Rs 299.30.

Top gainers on the BSE Midcap: Edelweiss Capital, UTV Software, Tulip Telecom, Gujarat Flourochem and Zydus Wellness were up 5-7.6%.

Top losers on the BSE Midcap: Honeywell Automation, Sterlite Technologies, Graphite India, Allcargo Global and Gee Kay Finance were down 2-5%.

Top gainers on the BSE Smallcap: Standard Industries, Hindustan Motors, Mastek, Ramsarup Industries and Geometric were up 8-10%.

Top losers on the BSE Smallcap: NESCO, Manaksia, BL Kashyap, aurionPro Sol and JK Paper were down 3-5.5%.

Today’s new listing

– Technofab Engg was trading at Rs 297.75, up 24.06% over its issue price of Rs 240 per share.

TCS, BF Utilities, HPCL, Sintex India, BPCL and Tata Motors were the most active shares on the exchanges.

In the midcap space, Zydus Wellness, Gujarat Flourochem, UTV Software, Rallis India and Omaxe gained 3.5-6%. However, Sterlite Tech, Ashok Leyland, Patel Engg, Dewan Housing and Graphite India fell 2-3%.

In the smallcap space, ILandFS, Transport Corp, Vipul, Agro Tech Foods and Maharashtra Ele were up 5-6.6%. However, Subhkam Capital, JK Paper, Maharashtra Polybutenes, Vinati Organics and Orient Abrasive lost 3-4%.

Sensex ends with modest gains; TCS surges 6% is a post from: Indian Stock Market Tips

Markets snap 4-day wins; Infosys sheds more

free stock tips — Wed, 14 Jul 2010 12:47:43 +0000

Shares erase early gains as Europe slips in red; BSE Sensex outperforms China, Brazil peers year-to-date; Infosys sheds more after a disappointing Q1 report card

Markets snapped a four-day winning streak and closed 0.3% lower after touching their highest level in nearly two-and-a-half years on Wednesday, taking cues from European markets which slipped in the red.

Export-focused outsourcers led the losers with the sector index declining 1.4%, after Infosys Technologies posted a disappointing quarterly report card and said a weak European economy could curb new orders.

Infosys, which had shed 3.4% in their worst fall in more than a year on Tuesday, shed another 1.9%.

The 30-share BSE index closed 0.27% or 47.74 points at 17,928.16, with 22 of its components losing ground.

It had risen to 18,167.22 points in early trade, its highest level since February 2008.

The benchmark is still up 2.7% so far this year, outperforming the broader MSCI’s measure of Asian markets other than Japan, which has dipped 5.3%.

Foreign funds have pumped $8 billion into Indian stocks so far in 2010, after a record $17.5 billion investment in 2009.

The BSE index’s emerging market peers – China’s Shanghai Composite Index and Brazil’s Bovespa have dropped 24.6% and 7.1% respectively year to date.

Investors have gone significantly overweight Indian equities for the first time in over a year as a shaky global outlook lures cash to domestic demand plays, a BofA-Merrill Lynch survey showed on Tuesday.

Market participants were sceptical and some believed the valuations could be stretched and any negative developments overseas may bring down the risk appetite.

“There is no reason to be euphoric. Nothing drastically has changed of lateto justify such rising valuations,” said Arun Kejriwal, director of research firm KRIS.

“We keep building expectations and not all are met. Infosys, IIP (Index of Industrial Production) data are recent examples of that,” said Kejriwal.

India’s annual headline inflation remained above 10% for the fifth straight month in June, cementing expectations the central bank will raise interest rates for a second time this month to contain surging prices.

A Reuters survey showed economic growth in Asia’s third-largest economy is expected to accelerate in fiscal 2010-11, supported by a double-digit rise in industrial output and robust domestic demand.

The survey of 21 economists showed India’s economy would grow 8.4% from a year earlier in the 12 months to the end of March 2011 and 8.5% in 2011-12. The economy had expanded 7.4% in 2009-10.

Financials ignored concerns over monetary tightening and advanced on hopes economic growth will spur demand for loans.

Top lender State Bank of India gained 1.5% while private sector rival HDFC Bank climbed 1.1%.

Housing Development Finance Corp, the country’s biggest home loan financier, closed up 0.5% after it said its June quarter net profit rose by 23%.

Other software outsourcers Wipro dropped 1.9% while Tata Consultancy Services, which unveils its quarterly earnings on Thursday closed barely changed.

Energy major Reliance Industries, which has the highest weight on the Sensex, shed 0.5% to Rs1,069.05.

In the broader market, declining shares outnumbered advancing ones in the ratio of 1.3:1 in a relatively higher volume of 487 million shares.

The 50-share NSE index dropped 0.3% to 5,386.15 points.

At 1053 GMT, the FTSEuro first 300 index of top European shares was down 0.3%.

Markets snap 4-day wins; Infosys sheds more is a post from: Indian Stock Market Tips

Sensex up 0.9%; Infosys hits all-time high

free stock tips — Mon, 12 Jul 2010 09:24:50 +0000

The Sensex climbed to their highest in more than three months on Monday, with Infosys Technologies racing to an all-time high for the second session ahead of its earnings.

Firmer Asian markets, expectations for robust factory output growth due around 11 a.m. and hopes for upbeat quarterly earnings bolstered investor confidence.

“There is good momentum with earnings season round the corner. People are optimistic about June quarter results,” said Kunal Sukhani, manager of institutional equities at Asian Markets Securities.

BSE Sensex rises to highest in more than 3 months; Infosys at record high ahead of earnings on Tuesday.

Infosys, the second-largest software exporter, rose as much as 1.4% to Rs2,911.55, its highest, on expectations it would raise its dollar revenue forecast for the full year when it unveils results on Tuesday.

Rivals Tata Consultancy Services and Wipro rose 1.3% and 0.8% respectively.

By 10:51 a.m., the 30-share BSE index was trading up 0.87% at 17,998.47, with 25 of its components gaining. It rose to 18,010.07 early, its highest is more than three months.

The benchmark is up 2.9% so far in 2010, with foreign funds investing a net of $6.8 billion in Indian equities. In 2009, foreigners had bought a record $17.5 billion of stocks and powered the index up 81%.

Factory output in May probably rose 16% from a year earlier, lower than an annual growth of 17.6% in April, a Reuters poll showed.

Commerce and industry minister Anand Sharma said on Friday India’s gross domestic product growth is expected to return to “9% plus” this year, led by strong corporate performance and rising savings levels, is also expected to support sentiment.

Financials led the gainers on expectations of a pick up in loan demand. Top lender State Bank of India rose 0.5% while rivals ICICI Bank and HDFC Bank were up 1.2% and 1.8% respectively.

Mortgage lender Housing Development Finance Corp climbed 1.5%. In the broader market, gainers were thrice the number of losers with 123 million shares changing hands on the BSE. The 50-share NSE index was up 0.8% at 5,392.55.

Sensex up 0.9%; Infosys hits all-time high is a post from: Indian Stock Market Tips

Nifty ends below 5250 on global cues; oil & gas, banks drag

free stock tips — Wed, 07 Jul 2010 11:25:00 +0000

The benchmark Nifty retreated nearly all its Tuesday’s gains and closed below 5250 level, dragged by oil & gas, financial, metal, auto, realty and select infrastructure companies’ shares. This pull down was mainly led by negative global cues.

European markets like CAC, DAX and FTSE were trading 1.2-1.5% lower and US index futures like Dow Jones & Nasdaq declined 0.6% each, at the time of closing of Indian equities. Even the US markets slipped from day’s high to end with marginal gains on Tuesday; ISM Service Index for June came in at 53.8 versus 55.4 in May while markets expected at 55.

Asian markets ended lower barring Shanghai. Hang Seng was down 1.13%. Nikkei, Jakarta, Straits Times, Kospi and Taiwan fell 0.2-0.6%. However, Shanghai gained 0.5%.

The Nifty has been trading in a range of 5200-5300 for three weeks. Portfolio manager PN Vijay said markets are pricing in slowdown in the global economy. "My sense is that most of it [bad news] has got priced in—if you see some of the buying on bad news that is coming in, especially in Wall Street."

According to Vijay the upcoming earnings season will be a key trigger for the markets. “The Nifty may not go below 5000-5200,” he felt.

The 30-share BSE Sensex closed at 17,471.03, down 143.45 points or 0.81% and the 50-share NSE Nifty fell 47.95 points or 0.91% to settle at 5,241.10. However, the Nifty July futures ended at 6 points premium.

Oil & gas, metal and financial were the leading sectors in today’s fall; respective indices declined 1-1.7%.

Heavyweights Reliance Industries Ltd and ONGC were down 1.9-2.1%. Among other oil & gas stocks, GAIL and BPCL fell 1.4-1.6%. BPCL was down 0.67%.

Financials have also taken beating today; HDFC, HDFC Bank, PNB, Axis Bank, Kotak Mahindra Bank, ICICI Bank and IDFC slipped 1-1.8%. SBI was down just 0.4%.

SAIL and Sterlite Industries from metal segment lost 1.9% each. Hindalco, Jindal Steel and Tata Steel fell 0.9-1.3%.

Tata Motors was the top loser on Nifty; down 2.21%. In auto space, Hero Honda, Maruti Suzuki and M&M declined 0.6-0.9%

Wipro and HCL Tech from software space were down 1% each while TCS gained 0.72%. Infosys was flat.

DLF and Unitech from realty pack lost 1.2-1.7%. ITC from FMCG segment fell 0.3% while HUL was flat.

Cipla, Ranbaxy Labs and Sun Pharma from healthcare space moved down 1.25-1.6%. L&T and Siemens from capital goods space were down 1% each.

However, telecom companies shares like Bharti and Reliance Communications gained 1.7% & 1.54%, respectively while Idea fell 0.4%.

Everonn Education, JSW Steel, Aban Offshore, Tata Steel, IFCI and Reliance Industries were the most active shares on exchanges.

Top percentage gainers – Intellvisions, Vaibhav Gems, IVP and English India shot up 20%. Ramco System, Celestial Labs and JHS Svendgaard went up 12-17%.

In the midcap space, Trent, Indian Bank, Pantaloon Retail, Monnet Ispat and Marico gained 4-7%. However, Rei Agro, Gee Kay Finance, Motherson Sumi, Karnataka Bank and Atlas Copco fell 3.5-6%.

In the smallcap space, Everonn Education, Shoppers Stop, Advani Hotels and Ferro Alloys were up 10-11.5%. However, Hatsun Agro, Asian Star, Indowind Energy, Oriental Hotels and Delta Corp lost 5-7.9%.

Total turnover of markets stood at Rs 83,510.89 crore. This included Rs 10,699.19 crore from NSE cash segment, Rs 69,053.31 crore from NSE F&O and the balance Rs 3,758.39 crore from BSE cash segment.

About 1467 shares advanced while 1672 shares declined on BSE. Nearly 187 shares remained unchanged.

Nifty ends below 5250 on global cues; oil & gas, banks drag is a post from: Indian Stock Market Tips

Nifty ends in green for 6 straight sessions; M&M up 3.5%

admin — Wed, 16 Jun 2010 13:18:38 +0000

The benchmark Nifty remained in a consolidation mode for second consecutive day but it closed in a positive terrain for sixth straight day. Global cues were also quite supportive today; Asian markets ended 0.9-1.8% higher.

European markets were trading marginally higher, at the time of closing of Indian equities. The US markets were closed 2-2.8% higher on Tuesday; a successful debt offering from Spain and Ireland aided sentiment.

"Gradually, there is a return of some amount of optimism in the market over the last three-five days. We seeing that at lower levels there is continuous buying interest, which has come into the market again. This time around also it got proven true. So given that there is global turmoil in the markets keeps on capping off at some level around 17,500-18,000 to about 5,400-5,500 on the Nifty," says Naresh Kothari, President of Edelweiss Capital.

The 30-share BSE Sensex closed at 17,462.87, up 50.04 points or 0.29% and the 50-share NSE Nifty rose 11 points or 0.21% to settle at 5,233.35.

Anil Dhirubhai Ambani Group and Mukesh Ambani group companies’ shares were the most active ahead of Reliance Industries AGM on June 18. Reliance Natural Resources, Reliance Industrial Infrastructure, Reliance Capital and Reliance Communications were the most active shares.

CNBC-Awaaz learns from sources that Reliance Industries (RIL) is looking at acquiring 26% stake in Anil Ambani backed Reliance Communications.

CNBC-TV18 learns that the Mukesh Ambani-led RIL is bidding for ultra mega power projects (UMPPs) in Chhattisgarh, Orissa and Tamil Nadu. Sources inform that the company is in the process of purchasing request for quotation (RFQ) documents for the 4,000 megawatt project.

Tata Steel, Tata Motors and Sterlite Industries were other most active shares. ICICI Bank and HDFC from financial space gained 1.9% each. HDFC Bank rose 0.6%. However, Axis Bank and IDFC fell nearly 2%. PNB and Kotak Mahindra Bank declined 0.8% each. SBI was flat.

Infosys and TCS from technology pack went up over 1%. Wipro was up just 0.15% while HCL Tech slipped 0.55%. M&M was the top gainer on Nifty; rallied 3.5%. Tata Motors went up 2.7% as its global sales jumped 50% to 79,819 units in May. Maruti was up 1.6% while Hero Honda fell 0.5%.

Sterlite Industries from metal space rose 2%. Hindalco was up just 0.3% while Jindal Steel, SAIL and Tata Steel declined 0.5-1.7%.

DLF from realty segment went up 1.85% while Unitech went down 0.35%. Cairn India, GAIL and BPCL from oil & gas space rose 0.3-1% while Reliance Industries was down 0.76% and ONGC down 0.16%.

Idea Cellular from telecom pack gained 1.1% and Reliance Communications was up 0.3%. However, Bharti fell 1.3%.

HUL from FMCG segment slipped 1.6% and ITC was down 0.3%. BHEL, L&T and ABB from capital goods space lost 0.2-0.4% while Siemens gained 0.3%.

In the power space, NTPC, Power Grid, Reliance Power, Tata Power and Reliance Infrastructure were down 0.4-1.5%.

In the midcap space, MTNL, Bajaj Electrical, Gammon Infra, TataTeleservices and Honeywell Automation gained 6-10%. However, Sadbhav Engg, Kwality Dairy, Syndicate Bank, IFCI and Dena Bank fell 2.7-6%.

In the smallcap space, TTK Prestige surged 18% and Resurgere Mines was up 17.19%. IFB Industries, Delta Corp and Relaxo Footwear were up 10.55-11%. However, Binani Cement, Vindhya Telelink, Subhkam Capital, Kanani Industries and Balaji Telefilm lost 4.5-7%.

Advances outnumbered declines; about 1641 shares advanced while 1464 shares declined on BSE. Nearly 206 shares remained unchanged. The markets reported total turnover of Rs 1,12,369.04 crore. This included Rs 14,361.33 crore from NSE cash segment, Rs 93,203.13 crore from NSE F&O and balance Rs 4,804.58 crore from BSE cash segment.

Nifty ends in green for 6 straight sessions; M&M up 3.5% is a post from: Indian Stock Market Tips

What brokers expect for markets next week?

free stock tips — Sat, 05 Jun 2010 09:52:49 +0000

We at myiris have collated views from leading broking firms on next week`s markets performance. The same is as under:

Aditya Birla Money:

The daily Nifty chart suggests continuation of bullish trend as Nifty has closed above 5,100 levels. However, in the forthcoming trading session, confirmation of the trend would be seen if Nifty sustains 5,148 levels and breaks 5,198 levels. Technically Nifty resistance is seen at 5,198 levels and break of the level would test 5,240 levels in near term. On downside Nifty support is seen at 5,050 and break of it would test 4,980 levels in near term.

Geojit

Nifty is having support at 5,100 and 5,070, while the resistance is there at 5,171 and 5,250 levels.

PINC Money:

Indian equity indices have sustained their bullish structure following some very encouraging technical patterns. The Nifty has moved above 5,100 which is a crucial resistance level. This development opens the potential for the Nifty to reach 5,475. The underlying technical indicators retain a bullish poise and there is every possibility that this target can be reached. We are bullish on the markets and believe that the uptrend is likely to sustain and reach higher levels over the medium term.

Source : my Iris

What brokers expect for markets next week? is a post from: Indian Stock Market Tips

Sensex ends above 17K on global cues; all sectors gain

admin — Thu, 03 Jun 2010 12:46:35 +0000

The benchmark Nifty gained for the second consecutive day and closed at two-week high on the back of strong global cues. Short covering too helped the markets to stay on the higher side. The indices closed above key levels, the Nifty settled above the 5100 level and the Sensex ended above the 17000 mark.

US pending home sales for the month of April 2010 went up 6% as against expected increase of 5%. The US markets rallied post this news and ended 2.2-2.7% higher on Wednesday. This news pushed other markets too higher. European markets were trading 1.7-2% higher and the US index futures were up 0.2-0.5%, at the time of closing of Indian equities.

In Asian markets, Nikkei surged 3.24%. Straits Times, Kospi, Jakarta and Taiwan Weighted gained 2-2.8%. Hang Seng was up 1.6% while only Shanghai declined 0.73%. The 30-share BSE Sensex closed at 17,022.33, up 280.49 points or 1.68% and the 50-share NSE Nifty went up 90.65 points or 1.81% to settle at 5,110.50. The broader indices also gained 1.1% each.

Stephen Roach, Chairman (Asia), Morgan Stanley said that that the markets were still flushed with liquidity. The Indian economy and markets were quite safe and not likely to be impacted hard by the crisis. He explained that Indian economy was boosted by the infrastructure sector and the strong Foreign Direct Investment (FDI).

He further added that though the European crisis created a global financial mess and looked vulnerable to a double dip, it was not as severe as the crisis in 2008. All the sectoral indices ended positive and only two stocks out of 50 were in the red on the Nifty, which were Cipla & Hero Honda Motors. Banks were the major gainers; the respective index rose 2%.

Telecom gained for the second consecutive day. Reliance Communications was the top gainer today as well, rallied 6.4%. After the informal talks, now Reliance Communication is engaging different strategies to once again woo the South African telecom operator MTN. Sources said to CNBC-TV18 that Anil Ambani will be visiting Johannesburg to meet the top brass of MTN on Monday. Bharti Airtel was up 1.15% and Idea Cellular up 4.2%.

Heavyweights Reliance Industries and ONGC went up 2% and 2.4%, respectively. GAIL was up 1.6%. BPCL and Cairn India gained 0.4-0.77%. In the banking & financial space, HDFC Bank, Axis Bank and IDFC went up 2.8-4%. SBI, ICICI Bank, PNB and HDFC were up 0.9-1.5%.

HCL Tech, TCS, Wipro and Infosys from technology pack moved up 0.9-2.4%. DLF from realty space gained 1.9% and Unitech was up 1%.

HUL from FMCG segment gained 3.9% and ITC was up 1.5%. Ambuja Cements and ACC from cement space rose 3.2% & 1.8%, respectively. L&T from capital goods space went up 2%; BHEL, ABB and Siemens gained 0.5-1.5%. Tata Motors from auto pack rose 2.8%; M&M and Maruti went up 1.5% each. However, Hero Honda lost 1.4%.

Sterlite Industries, Hindalco and Jindal Steel from metal segment were up 1.7-2.7%. SAIL and Tata Steel gained 0.3-0.5%. Advances outnumbered declines today as well; about 2030 shares advanced while 1055 shares declined on the BSE. Nearly 218 shares remained unchanged.

In the midcap space, Havells India, Atlas Copco, Redington, HCC and Trent were up 6-12% while Core Projects, Shriram City, Shree Renuka Sugar, Jain Irrigation and Berger Paints fell 2-3.5%.

In the smallcap space, IFB Industries shot up 20%. Everest Industries, Electrotherm, eClerx Services and Dynamatic Tech were up 10-12.6%. However, Indiabulls Securities, Kanani Industries, Goodyear, Indo Tech Transformers and Dolphin Offshore declined 4-6.4%.

The markets reported total turnover of Rs 92,772.22 crore. This included Rs 12,044.3 crore from the NSE cash segment, Rs 76,988.58 crore from the NSE F&O and the balance Rs 3,739.34 crore from the BSE cash segment.

Sensex ends above 17K on global cues; all sectors gain is a post from: Indian Stock Market Tips

Nifty ends strong for 3rd consecutive day, surges 259 pts

admin — Fri, 28 May 2010 10:46:39 +0000

The benchmark Nifty closed strong for third consecutive day on short covering and positive global cues. The index rallied 259 points in three days and got back above the 5050 level while for the week it gained just 134 points.

The Sensex closed at 16863, up 196 points and the Nifty was at 5066, up 63 points, as per provisional data. At 14:37 hours IST, the benchmark indices strengthened again after some consolidation with positive bias. Metal and realty rallied 4% each. Among the others, FMCG, Automobiles Sector and Power Sector indices gained 1-1.8%. European markets also moved up further and gained 0.4-0.6% after flat trade since opening.

Heavyweights like Reliance Industries, ONGC, NTPC, SBI, TCS, ICICI Bank and BHEL were quite supportive today, gained 1-1.5%. The Sensex was trading at 16867, up 200 points and the Nifty was at 5067, up 64 points. However, the Nifty June future was trading with 20 points discount.

The broader indices continued to outperform the benchmark indices; the BSE Midcap Index was up 1.6% and the Smallcap was up 1.5%. The market breadth was positive; about 2005 shares advanced while 903 shares declined on the BSE. Nearly 390 shares were unchanged.

Top gainers – Sterlite Industries was trading at Rs 685.10, up 6.37%; Suzlon Energy was at Rs 61.15, up 5.25%; Jindal Steel was at Rs 653.85, up 5.08%; SAIL was at Rs 206.45, up 3.82%; DLF was at Rs 280.50, up 3.70%; M&M was at Rs 546.55, up 3.38% and Reliance Communications was at Rs 143.60, up 3.16%.

Top percentage gainers – DCM and Saksoft were locked at 20% upper circuit. DandH Welding, Gujarat Capital Venture, Andhra Cement, Store One, Accel Frontline and Oudh Sugar Mills were up 16-19.7%.

In the midcap space, Parsvnath, Shree Renuka, Pipavav, Pantaloon Retail and Indian Hotels went up 6-9% while Hindustan National Glass, Rajesh Exports, GSFC, Info Edge and Fortis Health lost 3-5%.

In the smallcap space, Sakthi Sugars, Gallantt Metal, Sudarshan Chemical and Ahmednagar Forging rallied 8-12%. However, Goodyear, aurionPro Solution, Indo Rama Synth, Shristi Infra and Subhkam Capital fell 5-9%.

Nifty ends strong for 3rd consecutive day, surges 259 pts is a post from: Indian Stock Market Tips

Nifty ends above 200 DMA; L&T, ABB, Siemens led recovery

free stock tips — Mon, 17 May 2010 11:24:54 +0000

The benchmark indices, Sensex and Nifty ended in red with marginal loss of 0.97% and 0.6% respectively, ending a volatile session for the markets. However, things ended on a much optimistic note as at one point in trade, the indices nose-dived close to 3%.

Nifty’s 200 simple day-moving-averages (DMA), which is at 4,982, got violated in intraday trade but managed to bounce back sharply. Whereas, the BSE Sensex recovered nearly 300 points from its day’s low.

European markets opened on a flat note and built momentum on the bullish side. Dow Futures turned in green. At one point of time it was down 112 points. Asian markets too ended in red with 1-2% loss.

The Sensex was down 164.78 points or 0.97% at 16829.82, and the Nifty down 33.60 points or 0.66% at 5059.90. About 1100 shares advanced, 1737 shares declined, and 448 shares were unchanged.

The total turnover for the day was Rs 131032.57 crore. NSE F&O recorded total turnover of Rs 1,14,072.51 crore. The breakup of cash segment was Rs 12,981.73 crore in NSE Cash and Rs 3,978.33 crore in BSE Cash

Capital good index gained over 2.5% on the back of strong L&T earnings number. Selective buying in pharma and FMCG stocks also led the pullback rally. BSE Midcap index ended with minimal loss of 0.2%. BSE Smallcap index was down 0.7%.

However, oil& gas, IT, auto and realty were trading weak. Stocks like L&T, SBI, Bharti Airtel, Sterlite Ind and HUL were positive contributors to the Sensex while Reliance, Infosys, ICICI Bank, HDFC and ITC were negative contributors.

Top gainers on the Sensex were L&T at Rs 1,606.6 up 5.03%, HUL at Rs 239.75 up 2.57%, SBI at Rs 2,259 up 1.64%, Bharti Airtel at Rs 266.50 up 0.78% and Cipla at Rs 314.05 up 0.26%.

Top losers on the Sensex were DLF at Rs 286.45 down 4.12%, Wipro at Rs 645 down 3.34%, ACC at Rs 863 down 3.29%, Tata Motors at Rs 786.05 down 3.64% and Jaiprakash Associates at Rs 125.55 down 3.2%.

In the midcap space, Whirlpool was locked at 20% circuit post phenomenal results. Piramal Health, Dena Bank, Karnataka Bank and Zuari Indusitries were up 4.5-6.5%. Prakash Industries, Jubilant Foodworks, Gee Kay Finance, Bhushan Steel and Aban Offshore lost 4.6-8.4%.

In the smallcap space, Savita Oil, Hitachi Home, Sujana Towers, Venkys and Tilaknagar Industries gained 9-17%. On the losing side, Vikas WSP, Lakshmi Energy, Seamec, Vindhya Telelin and Thiru Arooran were down 6.4-9.6%.

Wipro was the top loser in the IT space with more than 3% loss. TCS and HCL Tech were down more than 2%. Tech major Infosys closed at Rs 2,615.70 down 1.55% from its previous close of Rs 2,656.85.

Reliance Industries closed at Rs 1,016.75 down 2.57% from its previous close of Rs 1,043.55. ONGC lost 1.7%. Cairn India and BPCL were down 1.1% and 1.3% respectively.

Tata Motors, Hero Honda, Maruti Suzuki and Bajaj Auto were down 1-3% in the auto space.

Reliance Communication lost nearly 2% from the telecom space. Idea Cellular, Tata Communication and Tata Teleservice ended in red. MTNL lost close to 4%.

Nifty ends above 200 DMA; L&T, ABB, Siemens led recovery is a post from: Indian Stock Market Tips