Market ends on a new high; outperforms Asia

The markets ended on a new high outperforming most of its Asian peers. Asian markets closed in red and even Europe was trading weak after the Fed cut rates by 25 bps disappointing analyst who were expecting a 50 bps cut. Midcap and smallcaps were the star performers.

Both the BSE midcap index and smallcap index are up nearly 1.6% and 1.8% respectively. Nifty ended up 50 points gaining 140 points from the day's low and Sensex was up around 40 points rallying 285 points from the day's low. 

On the macroeconomic front, industrial growth growth came in at 11.8% versus 4.5%, YoY, slightly ahead of expectation of 11%.

Pharma, oil & gas, metal and realty stocks were trading higher. However, select bank, IT and capital goods were under pressure.

IT index was down over 2%, Infosys , Satyam and Wipro were among the top losers.

Sensex closed up 84.98 points or 0.42% at 20375.87, and the Nifty up 62.05 points or 1.02% at 6159.30.

About 2251 shares have advanced, 792 shares declined, and 46 shares are unchanged.

The BSE Midcap Index ended at 9,339.49 up 1.7%.

The BSE Smallcap Index ended at 11,884.99 up 1.9%.

The BSE Bankex was down 0.6% at 11,712.12. ICICI Bank, IOB, Centurion Bank, Kotak Mahindra, Oriental Bank closed in red.

The BSE Capital Goods Index closed flat at 20,308.27. Praj Industries, Triveni Engg, Punj Lloyd, Kirloskar Oil, Reliance Infra closed higher.

The BSE Auto Index closed at 5,770.02 up 0.2%. Amtek Auto, Tube Investment, TVS Motor, Ashok Leyland closed higher.

The BSE Metal Index closed at 19,629.07 up 3%.   Jindal Saw, NALCO, Mah Seamless, Jindal Steel, SAIL closed higher.

The BSE FMCG Index closed up 1% at 2,189.52. Tata Tea, Bata India, United Brewerie, P and G ended higher.

BSE Oil and Gas Index closed at 13,152.02 up 1.4%.  IOC, Reliance Natura, Essar Oil, GAIL, ONGC ended higher.

The BSE IT Index was at 4,353.59 down 2%. Infosys, Satyam, Patni, Iflex closed lower.

The NSE cash turnover was at Rs 18706.12 crore and the NSE F&O turnover was at Rs 59421.97 crore. The BSE cash turnover was Rs 8193.36 crore. Total market wide turnover was at Rs 86321.45 crore.

Sensex, Nifty hit all time high: HDFC, Rel Comm up

The have bounced back and are trading at all time high amid volatility. It has outperformed most of the Asia, which closed in red. Sensex and Nifty both have hit anew high. Midcap and smallcaps are the star performers. The Fed cut rates by 25 bps disappointing analyst who were expecting a 50 bps cut leading to a fall. The breadth is in favour of the advances. Both the BSE midcap index and smallcap index are up nearly 1% and 1.5% each respectively.

Mkt trades with moderate losses: IT, bank stks down

The markets are trading with moderate losses on selling pressure seen in IT and banking stocks. But we have still outperformed most of the Asia, which closed in red. The Fed cut rates by 25 bps disappointing analyst who were expecting a 50 bps cut leading to a fall. Action can be clearly seen in the broader market. The breadth is in favour of the advances. Both the BSE midcap index and smallcap index are up nearly 1% and 1.5% each respectively.

Pharma, oil & gas, metal and realty stocks are trading higher. However, select bank, IT and capital goods were under pressure. Metal index is up 1.6% and realty index is up 1.7%. Tata Steel, HIndalco, Nalco are some of the top gainers.

IT index is down over 2%, Infosys is down 4%, Satyam and Wipro are down over 2.5%.

Glenmark Pharma up 8.4%, Nicholas Piramal up 5.4% and United Phosphorus are among some of the midcap gainers.

Colgate, Panit and Bank of Maharahtra are among the midcap losers.

On the Nifty among the top gainers were Idea, HDFC up 4%, Zee Ent up 3%, Tata Steel up 2.8%, followed by GSK, Sterlite Ind and Cairn India.

Fed meet fails to deter mkt: Midcaps, smallcaps up

The markets are trading flat outperforming Asian peers.  Markets were undetered by the fall in Asia post the Fed meet where it cut rates by a quarter point. Action can be clearly seen in the broader market. Both the BSE midcap index and smallcap index are up nearly 1.5%. Pharma, oil & gas, metal and realty stocks are trading higher. However, select bank, IT and capital goods were under pressure. The breadth is in fvaour of the advances.

At 12.07 hrs IST, the Sensex is up 5.17 points or 0.03% at 20296.06, and the Nifty down 4.15 points or 0.07% at 6093.10.

About 2268 shares have advanced, 773 shares declined, and 48 shares are unchanged.

On the macroeconomic front, industrial growth growth came in at 11.8% versus 4.5%, YoY, slightly ahead of expectation of 11%.

On the Nifty Nalco and the new addition Idea Cellular were both up over 3% followed by GSK, Sterlite Ind and Cairn India.

Top gainers on the Sensex are HDFC up 2.75%, Tata Steel up 2.2%, Hindalco up 1.8% and Maruti Suzuki up 1.6%. 

On the primary market front, Edelweiss made a stellar debut and Renaissance listed inline with street expectations.

In the real estate sector Omaxe, HDIL are up 10% each

Top losers on the Sensex are Infosys at Rs 1,700.05 down 2.47%, Wipro at Rs 495.50 down 1.91% and Satyam at Rs 434.50 down 1.63%.  HDFC Bank, ICICI Bank, Suzlon and Bharti were the other losers.

Most active shares on the exchanges were Edelweiss Capital, IFCI, Reliance Petroleum, Reliancce and Lanco Infratech.

HDIL, Ansal Properties, Omaxe and Puravankara Pro in the realty pack were buzzing. In the metal space, Shree Precoated, Nalco, Tata Steel and Hindalco were in focus.  

Mkts bounce back from days low; metal, realty stks firm

The markets have bounced back from the early lows and were trading in modest green on the back of heavy buying witnessed in the realty, metal and pharma stocks. However, IT and capital good pack was still under pressure.  

At 11 am, the Sensex is up 15.03 points or 0.07% at 20305.92, and the Nifty down 6.90 points or 0.11% at 6090.35. About 2214 shares have advanced, 820 shares declined, and 55 shares are unchanged.

Top gainers on the Sensex are Tata Steel at Rs 856 up 2.41%, Hindalco at Rs 204.20 up 2.33% and Maruti Suzuki at Rs 1,096 up 1.62%. 

Top losers on the Sensex are Infosys at Rs 1,700.05 down 2.47%, Wipro at Rs 495.50 down 1.91% and Satyam at Rs 434.50 down 1.63%. 

Most active shares on the exchanges were Edelweiss Capital, IFCI, Reliance Petroleum, Reliancce and Lanco Infratech.

HDIL, Ansal Properties, Omaxe and Puravankara Pro in the realty pack were buzzing. In the metal space, Shree Precoated, Nalco, Tata Steel and Hindalco were in focus.  

Mkts still under pressure; IT, banks worst hit

The markets continue to trade in red with significant cuts on the back of selling witnessed in the IT, power, FMCG and banking space.Realty and auto stocks were also under deep pressure. 

At 10.20 am, the Sensex is down 105.89 points or 0.52% at 20185.00, and the Nifty down 25.45 points or 0.42% at 6071.80. About 2009 shares have advanced, 1018 shares declined, and 62 shares are unchanged.

Top gainers on the Nifty are BPCL at Rs 449.10 up 2.23%,NALCO at Rs 414.05 up 2.22% and GAIL at Rs 527 up 1.45%. 

Top losers on the Nifty are Infosys at Rs 1,697 down 2.71%, HDFC Bank at Rs 1,737.05 down 2.44% and Bharti Airtel at Rs 1,012 down 2.33%.

Most active shares on the exchanges were Edelweiss Capital, IFCI, Reliance Petroleum, Reliancce and Lanco Infratech.

Markets open with gap down on weak cues

The markets opened on weak note today taking cues from the global markets. Heavy selling was witnessed in the early trade led by the power, realty, telecom and metals stocks. Asia was trading with deep cut following US mkts which plunged yesterday after the Fed cut rates by a quarter point disappointing traders looking for twice that amount.

At 9:56 am, Sensex was down 217 points at 20073 and Nifty was down 80 points at 6016. Major losers in the early trade were Bharti Airtel, Rel Comm, Rel Energy, MTNL, ICICI bank, Cipla, HDFC bank, Sterlite Inds, Infosys, Unitech, Satyam, SAIL and VSNL.

Edelweiss Securities got listed on the bourses today at Rs 1443 versus its issue price of Rs 825.

Asian markets were trading weak. Hong Kong's Hang Seng tumbled 2.64% or 772.56 points at 28,454.28, Japan's Nikkei plunged 1.84% or 294.85 points at 15,749.87, Taiwan's Taiwan Weighted was down 2.09% or 180.78 points at 8,457.55, Singapore's Straits Times declined 1.77% or 63.61 points at 3,525.42 and South Korea's Seoul Composite slipped 1.46% or 28.01 points at 1,897.06.

US markets: US stocks closed with huge losses after the Fed cut rates by a quarter point disappointing traders looking for twice that amount. The Dow tumbled 294.26 points, or 2.14%, to 13,432.77 after dropping as much as 313.29. The Standard & Poor's 500 index plunged 38.31 points, or 2.53%, to 1,477.65, and the Nasdaq composite index declined 66.60 points, or 2.45%, to 2,652.35

Market cues:

• Global markets weak after Fed decision of 25 bps rate cut
• FIIs net buy USD 74.5 million in equity on Dec 10
• NSE F&O Open Interest up by Rs 1,932 crore at Rs 1,04,622 crore