Mkt shows resilience; outperforms global peers

The markets closed on an impressive note outperforming most of its Asian peers. After opening with a gap down of around 170 points, it showed smart recovery and ended the day with good gains. The uptrend was boosted by capital goods, IT and FMCG goods. Suzlon was the star of the day after it bagged the RePower deal. Suzlon now controls over 60% of REPower both direct & indirect.  

Markets @ 2 pm

Markets gain ground: Sensex, Nifty in green again

The markets have defied the trend in Asia and are trading in green with moderate gains. At 2:00 pm IST, the Sensex is up 87 points at 14305, and the Nifty up 23 points at 4228.

About 1340 shares have advanced, 1059 shares declined, and 104 shares are unchanged.

The Asian markets have slipped tracking the US markets. Other than Shanghai Composite all the Asian indices were in red. Nikkei os down more than 200 points. Buying is seen in capital goods, IT and FMCG stocks.

BSE IT index is up nearly 2% and among the major gainers are Patni Computer up 4.99%, Satyam up 2.32%, HCL Tech up 2.18% and I-Flex Solution up 2%.

Frontline IT stocks Wipro, Infosys, Satyam and HCL Tech are among the major gainers on Sensex and Nifty.

ITC has declared its fourth quarter and FY07 numbers and the stocks was trading at Rs 167.45 up 0.78% from its previous close of Rs 166.15.

Carboradum is up 14%, 34.2 Lakh Carborundum shares changed hands on NSE at Rs 145/share.

In the capital goods space Suzlon is up over 7% after it bagged the Repower deal. Suzlon now controls over 60% of REPower both direct & indirect.  

Market trades flat: Capital goods, IT stocks gain

The markets are trading flat when most of the Asia is trading in red. The Asian markets have slipped tracking the US markets. Other than Shanghai Composite all the Asian indices were in red. Nikkei is down more than 200 points. 

At 1:13 pm IST, the Sensex is down 7.05 points or 0.05% at 14211.06, and the Nifty down 0.95 points or 0.02% at 4203.95.

About 1269 shares have advanced, 1063 shares declined, and 96 shares are unchanged.

The oil & gas index which was the top losers is seeing some recovery as oil ministry says that it will seek oil bonds for oil cos in June For FY08.

Tata Tea has gained over 4.5% after Coca Cola board approved purchase of Glaceau for USD 4.2 bn. Tata Tea bought 30% stake in Glaceau last year for USD 677 mn

Midcaps are on fire and among the gainers are PTC India up  9.98%, SpiceJet up 7.24%, ING Vysya Bank up 6.94% and UB Holdings up 6.49%. The BSE Midcap index is up 0.5%.

Capital goods, IT and FMCG stocks are among the top gainers. In the capital goods space Suzlon is up over 7% after it bagged the Repower deal. Suzlon now controls over 60% of REPower both direct & indirect. CLSA has recommended a buy on Suzlon with a price target of Rs 1400.

Top gainers on the Sensex are HLL up 1.61%, L&T up 1.67% and Infosys up 0.8%

Top losers on the Sensex are Ambuja Cements down 1.8%, HDFC Bank down 1.6%,  and Tata Steel down 1.5%.

Mkt shows smart recovery: Sensex, Nifty trades flat

The markets have shown smart recovery on account of buying seen in select power, capital goods and FMCG stocks. The midcap outperformnce continues and the Nifty May futures are at 8 points premium and the June futures are trading at par.

At 11.55 am IST, the Sensex is up 12.42 points or 0.09% at 14230.53, and the Nifty down 2.15 points or 0.05% at 4202.75.

About 1199 shares have advanced, 956 shares declined, and 77 shares are unchanged. 

BSE Midcap is up 0.5% and BSE Smallcap is up 0.7% giving market positive breath.

Other that metal and OIl & gas, all other BSE indices are trading in the green. Leading the recovery are capital goods, IT and FMCG stocks.

In the capital goods space Suzlon is up over 4% after it bagged the Repower deal as experts expect it to be EPS accretive. Suzlon now controls over 60% of REPower both direct & indirect. CLSA has recommended a buy on Suzlon with a price target of Rs 1400.

SKF India, Aban Offshore, Lakshmi Machine, L&T, Alfa Laval and Alstom Projects are the other gainers in the capital goods segment.

On the macroeconomic front, inflation for the week ended may 12 at 5.27% versus 5.44%; market estimated at 5.22%.  

Top gainers on the Sensex are L&T up 1.67%, HLL up 1.61% and Satyam up 0.81%

Top losers on the Sensex are HDFC Bank down 1.25%, Ambuja Cements down 1.22% and HDFC down 1.08%

Top losers on the Nifty are BPCL down 2.17%, HPCL down 1.91% and Tata Steel down.

Mkts on recovery track: PTC, Suzlon among buzing stocks

The markets have recovered almost half of its loses from the deep cut witnessed in the opening trade today but still in red with significant loses. All the key indices are trading quite subdued except pharma and capital goods index. markets breadth is still negative and the traded volume is relatively low. 

At 10.47 am IST, the Sensex is down 70.70 points or 0.50% at 14147.41, and the Nifty down 25.45 points or 0.61% at 4179.45. About 838 shares have advanced, 952 shares declined, and 55 shares are unchanged.

BSE Midcap and Smallcap were trading in marginal green with 8 points and 17 points gap up respectively. Banking and oil & gas stocks continue to be burdensome  in todays trade also on account of skepticism of hike in interest rates by US Fed and zooming crude prices respectively.

Nymex Crude was trading at USD 64.48 and Rupee was quoting at Rs 40.60 against Dollar. Nifty May future was quoting at 4179 with a premium of 0.55. Gold MCX was trading at Rs 8648.

Power Trade Corporation, Mercator Lines, Suzlon Energy and Shringar Cinema were some of the buzzing stocks today. Suzlon is drawing investors attention in the wake of its acquisition of Germany based power company REpower.  

Top gainers on the Sensex are NTPC at Rs 164 up 1.02%, Wipro at Rs 536.45 up 0.86% and Satyam at Rs 456.90 up 0.20%. 

Top losers on the Sensex are Bharti Airtel at Rs 823.50 down 1.5%, HDFC Bank at Rs 1,076 down 1.25% and HDFC at Rs 1,733 down 1.25%. 

Most active shares on BSE are Divis Labs at Rs 4,879 with 1,36,028 shares, Advanta at Rs 953.90 with 6,41,094 shares and Reliance Capital at Rs 966.50 with 3,33,823  shares.

Index heavyweight Hindustan Lever was trading at Rs 202.75 up 0.75% from its previous close of Rs 201.25.

Index heavyweight Reliance was trading at Rs 1,713.85 down 0.67% from its previous close of Rs 1,725.40.

Tech major Infosys was trading at Rs 1,929.95 down 0.34% from its previous close of Rs 1,936.60.

Cigarette major ITC was trading at Rs 165.10 down 0.63% from its previous close of Rs 166.15.

Refinery major HPCL was trading at Rs 286.30 down 0.42% from its previous close of Rs 287.50.

Markets @ 9:56 am

Mkts succumb to profit booking on negative global cues

The weakness in the markets extended for third consecutive day during the opening trade on account of extremely negative cues from the overseas markets. Bulls began the trade on back foot and unwinding of long positions was seen on the counters which have heaviest concentration on long positions and have run up in the recent past like banking, capital goods and oil & gas counters.

There was broad based selling seen in the the markets and index heavyweight were trading under presure. All the key indices opened in red with extremely negative market breadth.

At 9:56 am, Sensex was down 172 points at 14046 and Nifty was down 58 points at 4146. Major losers in the opening trade were Reliance, SBI, Infosys, ONGC, NTPC, HDFC, Tata Motors, TCS, Tisco, Hero Honda, Maruti, BPCl and Bharti.

Asian Markets:

Asian markets were trading weak. Japan's Nikkei plunged 1.59% or 280.86 points at 17,416.11, Hong Kong's Hang Seng tumbled 1.38% or 286.48 points at 20,512.49, Taiwan's Taiwan Weighted slipped 0.82% or 67.63 points at 8,148.78, Singapore's Straits Times declined 1.09% or 38.45 points at 3,491.81 and South Korea's Seoul Composite was down 0.42% or 6.89 points at 1,639.7.

US Markets:

Wall Street retreated yesterday after housing data showed sales surged in April by the largest amount in 14 years and damped hopes that an interest rate cut would be needed to stimulate the economy. The Dow Jones industrial average fell 84.52 points, or 0.62%, to 13,441.13. Broader stock indicators also fell. The Standard & Poor's 500 index fell 14.77 points, or 0.97%, to 1,507.51, and the Nasdaq composite index fell 39.13 points, or 1.52%, to 2,537.92.

Market cues:

• FIIs net buy USD 105.8 mn in equity on May 23
• MFs net buy Rs 16.2 crore (Rs 162 million) in equity on May 23
• NSE F&O Open Interest up by Rs 1,424 crore (Rs 14.24 billion) to Rs 63,639 crore (Rs 636.39 billion)

F&O cues:

• NSE F&O Open Interest up by Rs 1,424 crore (Rs 14.24 billion) at Rs 63,639 crore (Rs 636.39 billion)
• Futures Open Interest up by Rs 740 crore (Rs 7.40 billion); Options Open Interest up by Rs 684 crore (Rs 6.84 billion)
• Marketwide rollover at 16.7%; Nifty rollover at 15.1%
• Nifty Futures add 13.4 lakh shares in total Open Interest
• Nifty May at par with spot, June at 3-point discount
• Nifty Open Interest Put-Call ratio down to 1.45 from 1.48
• Nifty Calls add 6.6 lakh shares in Open Interest
• Nifty Puts add 6.4 lakh shares in Open Interest
• Nifty July 4200 Puts add 3.2 lakh shares in Open Interest
• Nifty June 4200 Puts add 2.8 lakh shares in Open Interest
• Nifty 4200 Calls add 2 lakh shares in Open Interest
• Nifty 4250 Calls add 1.4 lakh shares in Open Interest
• Nifty June 4200 Calls add 1.3 lakh shares in Open Interest