Sensex closes above 13K led by bank, tech stocks

Markets @ 3:16 pm : Sensex holds 13k; Satyam,JP Asso,HDFC Bk top gainers

Markets are trading with good gains but off day’s high. Sensex holds 13000 mark and Nifty is hovering around 3950 level. IT, bank, FMCG, power pharma stocks are witnessing buying interest. However, realty and oil & gas stocks are witnessing selling pressure.

The BSE midcap and smallcap indices are up nearly 1% each.

At 3.16 pm, the Sensex was up 217.69 points or 1.69% at 13078.12, and the Nifty up 27.25 points or 0.69% at 3948.45.

About 1678 shares have advanced, 1287 shares have declined, and 217 shares are unchanged.

Top gainers on the Sensex are Satyam at Rs 320.40 up 8.02%, Jaiprakash Asso at Rs 118.90 up 7.02% and HDFC Bank at Rs 1,286.70 up 4.69.

Most active shares on BSE are Rel Capital at Rs 1,144 with volumes of 2,844,448, Reliance at Rs 1,928 with volumes of 1,142,911 and Axis Bank at Rs 731.95 with volumes of 2,948,958.

Tech major Infosys was trading at Rs 1,433.50 up 2.57% from its previous close of Rs 1,397.55.

Cigarette major ITC was trading at Rs 192.75 up 2.53% from its previous close of Rs 188.

Markets @ 2:33 pm :Nifty tests 4K; ICICI, HDFC Bk, Infy, ONGC, Rel Comm lead

Buying in banking, technology, telecom, power and metal stocks is supporting frontline indices to stay at higher levels. The Nifty has tested 4000 mark and the Sensex holds above 13000 level. Midcap and small cap stocks are also following this rally. On the global front, European markets are trading higher; FTSE rose nearly 2% while CAC and DAX are up marginally.

Out of 30 stocks of Sensex, only one stock, Tata Motors is in red. ICICI Bank, HDFC Bank, Infosys, HDFC, Satyam, Bharti Airtel, Reliance Comm, ONGC and SBI are leaders to this rally.

The Sensex rose 325 points to 13,185 and the Nifty jumped 74 points to 3,994.80, at 2:33 pm. BSE Midcap and Small cap indices gained over 1%.

BSE Bankex rose over 4%, IT Index 3.7%, TECK 3.25%, Power 2.42% and Metal 2.05%. FMCG, Auto, Healthcare and Capital Goods indices rose 1-1.7%.

Market breadth is positive; about 1770 shares have advanced while 1197 shares have declined. Nearly 215 shares are unchanged.

Among the frontrunners, Jaiprakash Associates, Satyam, HDFC Bank, ICICI Bank, Reliance Communication, HCL Technologies and PNB gained 5-9%. However, Sun Pharma, Cairn India and Tata Motors are losers.

DLF jumped nearly 2%. DLF Assets (DAL) will raise USD 750 million as private equity from sovereign and private-equity funds, said CNBC-TV18 quoting sources. Also, DLF will raise USD 1-1.5 billion as private equity in its residential, power business by December. The real estate major will also ramp up its power business capacity to 1300 MW by 2013.

WB Power regulator approved CESC's FY09 tariff of Rs 3.91/unit. It sees CESC FY09 revenue at Rs 2,809 crore. The stock gained close to 2%.

Mahindra and Mahindra surged over 3%. Its September sales increased to 25,427 units versus 19,895 units (excluding tractors) YoY.

Markets @ 1:48 pm : Mkts surge further; Satyam, JP Asso, HDFC Bk top gainers

Benchmark indices have witnessed smart bounce back led by technology, banking, telecom, power, FMCG, few metal and auto stocks and are trading sharply higher. Midcap and small cap stocks are also on buyers' radar. However, selling is seen in few realty and oil stocks. European markets have gained on hopes that bailout plan is likely to approve by end of this week, which are helping our markets as well.

The Sensex jumped by 269 points to 13,129 and the Nifty rose 57 points to 3,978, at 1:48 pm. BSE Midcap and Small cap indices gained 1% each.

Market breadth is in favour of advances; about 1671 shares have advanced while 1287 shares have declined. Nearly 223 shares are unchanged.

BSE IT Index rose 4%. Satyam, Moser Baer and HCL Tech jumped 6-8%. Rolta, Infosys and Patni Computer gained 4-5%. Wipro, Tech Mahindra and TCS rose 1.5-2.5%.

Telecom stocks like Reliance Communication jumped 3.17%, Tata Comm 2.31%, MTNL 1.54%, Bharti Airtel 1.24% and TataTeleservice 1.15%.

Bankex moved up by 3.5% as IndusInd Bank, HDFC Bank, ICICI Bank, Karnataka Bank, PNB and IDBI Bank rose 3.6-4.7%.

Power stocks like Power Grid Corp, Suzlon Energy, GMR Infra, Torrent Power, Tata Power and CESC are gainers. Index rose 2.3%.

Metal stocks are shining. Index gained 2%. Bhushan, Welspun Gujarat, Tata Steel, Jindal Steel, Jindal Saw, Hind Zinc and JindalStainless are up 1-4%.

FMCG Index rose 1.4% due to buying in Godrej Consumer, United Spirits, ITC, Marico and HUL.

CCL Products rose nearly 1.5% after second quarter numbers. Its Q2 consolidated net profit increased to Rs 9.7 crore from Rs 3.3 crore.

Kingfisher Airlines has hiked fares by 5% across all classes from today, Kingfisher Airline Executive said. Deccan Aviation surged nearly 4%.

On the global front, European markets like FTSE rose 80 points, CAC 36 points and DAX 8 points.

Shane Oliver, Head of Investment Strategy of AMP Capital said that the US bailout package is likely to be cleared this time. He said that substantial changes in bailout package could be risky for markets and that the bailout package could trigger a 50-100 point rally on S&P 500.

Oliver said that markets look oversold and that some bounce is expected in the coming weeks. He feels that markets are likely to remain volatile in October and then there will be a rally in November-December. He added that the markets are pretty close to the bottom.

Markets @ 12:34 pm : Mkts bounce back; Sensex above 13000, IT leads

Markets have bounced back after the news that US Republican members are forging alternative bailout plan. The proposal will be an alternative to that proposed by US Treasury Secretary Henry Paulson. European markets have opened strong after this news, which are helping our markets as well.

Buying is seen in technology, FMCG, metal, power, banking, pharma and auto stocks.

The Sensex rose 179 points to 13040 and the Nifty gained 38 points to 3,958, at 12:34 pm. BSE Midcap and Small Cap indices rose half a percent.

Top gainers are Satyam, Jairprakash Associates, Ranbaxy Labs, HCL Tech and Suzlon Energy. However, losers are L&T, Sterlite Industries, Reliance Communication, Idea Cellular and BPCL.

Market breadth is positive; about 1498 shares have advanced while 1442 shares have declined. Nearly 241 shares are unchanged.

BSE IT Index rose nearly 4%. BSE Bankex, FMCG and Power indices surged over 1.5%. Metal index rose 1.2%. Healthcare and Auto gained 0.9% each.

Moser Baer secured USD 500 million order for solar module. The stock shot up over 7%.

Government is considering raising FDI limit in DTH broadcasting to 74% and is considering cut in revenue shared by DTH operators. Dish TV rose nearly 3%.

Bajaj Auto gained half a percent, as its September total sales increased to 2.45 lakh units from 2.32 lakh units in the same month of last year. Its 2-wheeler sales stood at 2.18 lakh units versus 2.06 lakh units (YoY).

Panacea Biotech rose close to 2% as its arm will invest USD 13.1 million in the US company PharmAthene.

On the global front, European markets like FTSE jumped 1.3%. CAC and DAX rose marginally.

Markets @ 10:33 pm : Nifty below 3900; Oil, cap goods, realty, bank stocks down

Markets are trading lower on the back of profit booking though there is some volatility. Selling is seen in oil, capital goods, banking and realty stocks. However, buying is seen in technology, few FMCG, auto and pharma stocks.

The Sensex tumbled 134 points to 12,726 and the Nifty fell 47 points to 3,874 at 10:33 pm. BSE Midcap also lost over half a percent.

BSE Oil & Gas and Realty indices fell over 2%. Bankex and Capital Goods lost around 1.5%. However, IT gained over 1.5%. FMCG rose half a percent.

Independent Market Analyst, Dhiraj Agarwal feels there is no upside seen in the market now. He said that the destruction phase is over. However, construction will take some time and in that period there will be trading rallies on oversold stocks that are bought. Therefore he expects the markets to trade in a range for some more months.

Top losers are L&T, Reliance Infrastructure, SBI and Reliance Industries while gainers are Ranbaxy Labs, Satyam, Infosys and Suzlon Energy.

Market breadth is in favour of declines; about 1383 shares have advanced while 1556 shares have declined. Nearly 242 shares are unchanged.

Maruti Suzuki also went up 0.5%. Its September domestic sales rose to 64,682 units versus 63,086 units and total sales went up to 71,000 units versus 67,448 units (YoY). Its exports rose to 6,318 units from 4,362 units (YoY).

TVS Motor rose over 5% after its September sales numbers. Its September total sales stood at 1.37 lakh units versus 1.15 lakh units. Its 2-wheeler exports also jumped to 18,229 units from 12,036 units (YoY).

Alfa Laval surged over 3.5%, as the company has bagged three orders worth USD 21 million from Vedanta Aluminium.

Markets @ 9:58 am : Markets choppy; Nifty struggles @ 3900

Markets have opened higher following positive US cues, but have failed to maintain those gains and have turned volatile. Buying is seen in few technology, auto, banking and capital goods stocks while selling in few oil, pharma and metal stocks.

At 9:58 am, the Nifty fell 14 points to 3,907 and the Sensex lost 39 points to 12,900. However, CNX Midcap gained 0.67% to 4,923.

Nilesh Shah, Deputy Managing Director, ICICI Prudential AMC said that Tuesday's rally was entirely unexpected. He believes that selling by Asia specific hedge funds is likely to weigh down markets. He expects markets to continue to be volatile for some more time.

Among the frontliners, Suzlon, Unitech, ICICI Bank, M&M, Cairn India, Infosys, HCL Tech, Tata Motors, L&T, ITC, Satyam and HUL have gained.

Mahindra and Mahindra shot up nearly 5% on the reports that the company has created trust which will hold 8.7% stake post the merger of Punjab Tractors.

WABCO-TVS has listed at Rs 170 per share.

Crude has bounced back above USD 100 to a barrel on account of rally in US markets. It is hovering around USD 101-102 to a barrel on the NYMEX.

Most Asian markets are shut today like China, Hong Kong, Singapore, Indonesian, Malaysia. Nikkei rose 0.75% and Taiwan 0.71%. However, Kospi fell 0.64%.

US markets clawed back more than half of the losses on increased optimism that the government will reach an agreement on a financial relief plan before the end of the week. Bargain hunting and stronger than expected economic data on consumer confidence also helped lift sentiment.

The Dow gained 485.21 points, or 4.68%, to 10,850.66. The S&P 500 index advanced 58.35 points, or 5.27%, to 1,164.74, and the Nasdaq composite index added 98.60 points, or 4.97%, to 2,082.33

Market cues:

FIIs net buy USD 95.9 million in equity on Sep 29

MFs net sell Rs 38 crore in equity on Sep 29

NSE F&O Open Interest up by Rs 1,321 crore at Rs 60,221 crore

F&O cues:

Futures Open Interest up by Rs 87 crore and Options Open Interest up by Rs 1,234 crore

Nifty Futures shed 7 lakh shares in Open Interest, at 6-pt premium

Nifty Open Interest Put-Call Ratio (PCR) at 0.93 Vs 0.90 

Nifty Puts add 18.5 lakh shares in Open Interest

Nifty Calls add 9.2 lakh shares in Open Interest
  
Nifty 3700 Put adds 12 lakh shares in Open Interest

Nifty 4000 Call adds 3.7 lakh shares in Open Interest

Stock Futures shed 1 cr shares in Open Interest