Moneycontrol
May 15, 2012 12:55 PM IST | Source: Moneycontrol.com

Sensex rises 100 pts; banks, capital goods, Reliance lead

The BSE Sensex and NSE Nifty went up over 0.5% amid volatility, led by buying interest in banks, capital goods, healthcare and metals stocks. Index heavyweight Reliance Industries too helped the recovery, rising 0.4%. However, auto stocks were under pressure.

Sensex rises 100 pts; banks, capital goods, Reliance lead

The BSE Sensex and NSE Nifty went up over 0.5% amid volatility, led by buying interest in banks, capital goods, healthcare and metals stocks. Index heavyweight Reliance Industries too helped the recovery, rising 0.4%. However, auto stocks were under pressure.


The BSE benchmark rose 115.58 points or 0.7% to 16,331.42 and the NSE benchmark gained 30.65 points or 0.62% at 4,938.45 despite fall in Asian markets. Shanghai and Nikkei dropped 0.9% each while Hang Seng rose 0.5%.


Back home, country's largest engineering and construction firm by sales Larsen & Toubro surged 5% on account of strong growth expectations. Company sees 15-20% growth in topline and order inflows for FY13. State-owned BHEL moved up 1.2%.


India's largest lenders State Bank of India and ICICI Bank jumped 0.7% and 1%, respectively. Software services providers Infosys and Wipro gained 1.2% each.


Healthcare stocks saw buying interest - Cipla and Sun Pharma climbed 1.5-2%.


However, shares of Tata Motors, NTPC, M&M, Maruti, ONGC, Coal India and Sterlite were down 0.5-2%.


IVRCL rose nearly 2% as the company received orders worth Rs 652.6 crore from Andhra Pradesh government and Power Grid Corporation.


Orchid Chemical was the most active stock today on the BSE with 11,76,121 equity shares, which crashed over 10% due to disappointing results in Q4FY12. Yesterday it had lost 13%.


Declining shares outnumbered advancing by 1112 to 981 on the BSE.


In the second line shares, Redington, Bajaj Electricals, Amtek Auto, Welspun Corp and Indraprastha Gas gained 2.5-3% while Himadri Chemical, Pantaloon Retail (ahead of quarterly results today), S Mobility, Abbott India and IRB Infrastructure dropped 3-5.5%.


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At 10:30 hours IST: Choppy Sensex flat; L&T up 5% on strong growth forecast


The BSE Sensex and NSE Nifty continued to move around previous closing values, having priced in negatives like Greece concerns, sliding rupee, and inflation. The Indian rupee opened at 54.10 to a dollar, but immediately recouped losses to trade at 53.84 to a dollar. It gained 12 paise from the previous close of 53.97.


The BSE benchmark rose 37.24 points or 0.23% to 16,253.08 and the NSE benchmark gained 6 points to touch 4,913.60.


Shares of engineering and construction major Larsen & Toubro climbed higher for the second consecutive session. The stock shot up 5% after the company said it expects a 15-20% growth on the topline as well as order inflows for FY13. State-owned BHEL rose 0.8%.


Software services provider Infosys and Wipro gained 0.7-1.2% due to depreciating rupee.


Country's largest lenders State Bank of India and ICICI Bank moved up 0.7% each.


However, top commercial vehicle maker Tata Motors dropped nearly 1% and India's largest car maker Maruti Suzuki tanked 2%. Even top utility vehicle maker M&M fell 1%.


Index heavyweights ITC, Reliance Industries, ONGC and Bharti Airtel were moderately lower.


Orchid Chemical was the most active stock on the BSE with 954,697 equity shares. The stock crashed nearly 12% today and yesterday it had fallen 13% after disappointing numbers in Q4.


At 9:20 hours IST: Sensex, Nifty volatile; rupee hits 54/USD


The BSE Sensex and NSE Nifty opened 0.6% lower on Tuesday morning following downtrend across the globe due to political turmoil in Eurozone and depreciation in rupee to 54 a dollar. However, the market immediately trimmed losses to move around its previous closing value as it seemed to be priced in all negatives globally and locally. Even the rupee too recovered from day's low to trade at 53.78 a dollar, gained 17 paise from previous close at 53.97 a dollar.


The BSE benchmark was down just 11.74 points to 16,204.10 and the NSE benchmark fell 8.2 points to 4,899.60.


Doubts have been raised over Greece's existence in Euro; Greek president is expected to suggest a technocrat government today while left parties have been pushing for re-election. Asian markets were moderately lower today and US markets closed 1% lower yesterday.


Back home, largecaps like ITC, Maruti, HDFC, ONGC, Bharti, M&M, TCS, Sun Pharma, Sterlite, Coal India and Hero Motocorp were down 0.3-1.3%.


However, L&T, Reliance Industries, HDFC Bank, Wipro, BHEL, Bajaj Auto (brokerage upgraded the stock), Tata Steel, Cipla and DLF gained 0.2-0.8%.


The CNX Midcap Index declined 31 points to 6,891. About two shares declined for every share rising on the National Stock Exchange.


In the second line shares, Orchid Chemical tanked 7% after disappointing results in Q4. Yesterday the stock had fallen 13% post results.


Lovable Lingerie plunged 4.5% and Ashok Leyland was down 3% post quarterly numbers. However, Indraprastha Gas and Eicher Motors gained 2-3%.

Educomp Solutions, SREI Infrastrucutre, GMR Infra, IVRCL, Voltas and Punj Lloyd were down 1-1.5%.

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