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Sensex trades higher led by RIL, ONGC, ITC, ICICI Bk
The Sensex started the week on a positive note led by heavyweight Reliance Industries along with buying in banking, auto, cement and metal stocks. Reliance has made a preliminary, non binding cash offer to buy Dutch company LyondellBasell, reports CNBC-TV18. The stock was up 1%.
At 9:56 am, the Sensex rose 99 points to 17,121 and the Nifty gained 28 points at 5,080. The CNX Midcap went up 45 points to 7,207. About 545 shares advanced while 148 shares declined on the NSE.
Among the frontliners, PNB, Suzlon Energy, Tata Motors, M&M, Maruti Suzuki, Grasim, ACC, Siemens, HDFC Bank, Axis Bank, IDFC, ONGC, Jindal Steel & Power, Sterlite Industries and Tata Steel were the gainers in the early trade.
However, Bharti Airtel lost 2%. Infosys and Idea Cellular were down 0.7% each.
Midcap space:
Vishal Retail was up another 5.5%. It shot up 40% in last week.
Dish TV was up 1.7%. According to sources, the company raised $ 100 million via GDR issue.
Dena Bank, Allahabad Bank and Vijaya Bank continued to gain on the buzz of consolidation in the banking space.
Exide Industries was up 4% and Rico Auto rose 5% post quarterly numbers.
However, Balrampur Chini, Bajaj Hindusthan and Shree Renuka Sugars were down 1.5-2.5% as government will be taken up sugarcane pricing bill today in Parliament.
Global cues:
Asian markets were trading mixed. Hang Seng and Straits Times gained 0.5% each. Shanghai, Kospi and Taiwan Weighted were flat while Jakarta fell 0.5%....
Nifty in green amid volatility; telecom, Infy, SBI decline
At 10:59 hours IST, the Nifty was trading marginally higher amid volatility led by buying interest in oil & gas exploration, banking (barring SBI), auto, realty, cement, select metal and infrastructure stocks. However, continued selling in telecom stocks and in stocks like SBI, Infosys, Hindalco, BHEL and BPCL capped the gains to major extent.
Reliance Industries was up 1.5% as it has made a preliminary, non-binding cash offer to buy Dutch company LyondellBasell.
The Sensex rose 50 points to 17,073 and the Nifty gained 19 points at 5,071. The Nifty November future was trading with 4-5 points premium.
The BSE Midcap Index rose 0.3% and the Smallcap up 0.9%, as about 1,699 shares advanced while 1,068 shares declined on the BSE. Nearly 665 shares were unchanged.
In the midcap space, BF Utilities, HMT, MRF, Edelweiss Capital and Aurobindo Pharma gained 4.5-7.5% while Balrampur Chini, KGN Industries, Info Edge, GE Shipping and J&K Bank slipped 3-4.6%.
In the smallcap space, Tata Sponge Iron, Sahara One, PVR, Mahindra Forging and Mastek were up 6.5-10% while Jindal Worldwide, Kanani Industries, Dhampur Sugar, Webel SL Energy and PVP Ventures declined 3.6-4.4%.
SREI Infrastructure Finance was up 3% as it bought 57.17% stake in DPSC (Dishergarh Power Supply Company) at Rs 172 crore via consortium.
Vishal Retail gained 10% as the company said its CDR (corporate debt restructuring) has been admitted, which stands at Rs 730 crore.
Dish TV rose 1%, as it has raised $100 million via GDR at Rs 39.80, which will use for subscriber acquisition.
On the global front, Asian markets were trading mixed. Shanghai, Hang Seng and Straits Times went up 0.25-0.55%. However, Kospi, Taiwan Weighted and Jakarta fell 0.10-0.6%.
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Nifty hits 5100 led by RIL; ITC hits all-time high
Published on Mon, Nov 23, 2009 at 11:53 | Updated at Mon, Nov 23, 2009 at 12:04 | Source : Moneycontrol
At 11:55 hours IST, the Nifty touched the 5,100 mark after a month. Reliance Industries (RIL) was the leading counter with a gain of 3%, the company has made a preliminary, non-binding cash offer to buy Dutch company LyondellBasell (LB). There were reports that the company is planning USD 10 billion offer.
ITC gained 2.7% and hit an all-time high of Rs 268. ICICI Bank, HDFC Bank and ONGC were the other leading counters.
Brokerages views on RIL - CLSA in their report said the deal would be positive if enterprise value of LB is below USD 12 billion. However, Kotak Institutional report said there would be no real synergies between RIL and LB; they retained sell rating with a target of Rs 1,750/share.
On the sectoral front, auto, metal, power, banking (except SBI), cement and select pharma stocks were seeing buying interest. However, selling in Bharti Airtel (down 4%), Reliance Communications (down 1%), Idea Cellular (down 1.7%), Infosys, SBI and Hindalco (down 2%) limited the gains to some extent.
The Sensex went up 139 points to 17,160 and the Nifty rose 48 points to 5,100. The market breadth strengthened a bit further; about 1,767 shares advanced while 1,010 shares declined on the BSE. Nearly 655 shares were unchanged.
The Nifty November future was trading with 7 points premium. Among the broader indices, the BSE Midcap Index was up 0.4% and Smallcap up 1%.
In the midcap space, GMDC, BF Utilities, HMT, MRF and Aurobindo Pharma gained 6-8% while KGN Industries slipped 10%. Balrampur Chini, J&K Bank, Shree Renuka and Info Edge lost 3-4%.
In the smallcap space, Tata Sponge Iron, Mastek, Prime Securities, Indian Metals and Sahara One went up 7-12% while PVP Ventures, Webel SL Energy, Dhampur Sugar, Raj Oil Mills and Kalyani Steels declined 3-4.7%....
To use GDR proceeds for subscriber acquisition: Dish TV ...
JSPL to divest 10% stake in Jindal Power IPO in FY10...
Buy DLF; target of Rs 398: IndiaInfoline...
Buy Deepak Fertilizer; target of Rs 143: KRChoksey...
Buy sugar, financials, pharma on declines: Experts ...
Baltic Index rally seasonal, short-term; outlook cautious...
India`s GDP upward inclined: India Capital Management...
Lyondell Basell development positive for RIL: PN Vijay...
Corrections in `10 to be more aggressive, violent: JPMorgan...
Nifty hits 5100 led by RIL; ITC hits all-time high...
European Factors-Shares set to snap losing streak
Mon Nov 23, 2009 1:21am EST
PARIS, Nov 23 (Reuters) - Financial bookmakers expected to
see the leading European benchmark indexes rising on Monday, as stocks were
poised to snap a four-session losing streak, helped by rising commodity prices.
Financial spreadbetters expected Britain`s FTSE 100 .FTSE to open 32 to 34
points higher, or as much as 0.7 percent, Germany`s DAX .GDAXI to open 29 to
32 points higher, or as much as 0.6 percent, and France`s CAC-40 .FCHI to open
28 to 30 points higher, or as much as 0.8 percent.
Copper prices rallied sharply on Monday, shrugging off a 40 percent fall in
China`s refined copper imports in October as a weaker dollar and gains in other
commodity markets dominated sentiment, while oil prices rose above $78 a barrel
as heightened tension between Iran and Western nations raised speculation over a
potential supply risk.
European equities slipped for a fourth session on Friday to reach a two-week
closing low, as financials dropped on worries over some banks` exposure to
Ukrainian debt, while weaker crude oil prices hurt energy shares.
...
Asian markets trading mixed:
All Ordinaries 4,739.200 Up32.500 (0.69%)
Shanghai Composite 3,323.584 Up15.238 (0.46%)
Hang Seng 22,597.60 Up141.76 (0.63%)
BSE 30 17,179.21 Up157.36 (0.92%)
Jakarta Composite 2,473.8081 Down 13.557 (0.55%)
KLSE Composite 1,272.02 Down 2.34 (0.18%)
Nikkei 225 9,497.68 Down 51.79 (0.54%)
NZX 50 3,112.976 Down 0.653 (0.02%)
Straits Times 2,774.84 Up13.30 (0.48%)
Seoul Composite 1,619.05 Down 1.55 (0.10%)
Taiwan Weighted 7,687.15 Up4.18 (0.05%)...
