Infrastructure, banks help Sensex end 202 pts up

Reacting to strong global cues, Indian equity benchmarks rallied more than 1% on Wednesday. Upmove in power, banks, capital goods, oil & gas and ADAG stocks helped the market close near its one-month high. The 50-share NSE Nifty climbed 60.35 points, to end at 5,124.65 and the 30-share BSE Sensex gained 202.19 points, to settle at 17,065.

The market seems to have factored in a 25 basis points hike for now, says Ambareesh Baliga, COO, Way2Wealth. He, however, says a surprise 'no hike policy' from the RBI, will help market get back into that bullish range, above 5,250 levels.

Global markets rallied post better-than-expected services sector data in the US yesterday. European markets rebound from a two-year closing low; France's CAC, Germany's DAX and Britain's DAX moved up 2-2.5%. Asian markets too closed 2-4% higher. The Dow Jones futures gained 82 points.

The BSE Realty Index jumped 3.4% - outperformed other indices. Power, Capital Goods, Bank and Metal indices went up 2-2.4%. Oil & Gas Index rose one percent.

Heavyweights like Reliance Industries, SBI, L&T, HDFC, BHEL and Wipro rallied 1.5-2%.

NTPC, HDFC and SAIL shot up 3-4%. Among others, ONGC, Bharti Airtel and ICICI Bank were up over 0.5%.

Jaiprakash Associates was the top gainer today; it surged nearly 8% on reports that the company may sell some stake in cement business.

Ambuja Cements, ACC, SAIL and Tata Power climbed 4-6%. Anil Dhirubhai Ambani Group companies' shares too were on buyers' radar; Reliance Power, Reliance Communications, Reliance Capital and Reliance Infrastructure were up 1-2.6%.

However, ITC and M&M extended losses in the last one hour of trade; both stocks lost nearly 1.5%. Infosys, TCS and Bajaj Auto were marginally in the red.

The broader indices too followed the benchmarks - the BSE Midcap and Smallcap indices rose 1.2-1.5%.

In the midcap space, IVRCL shot up 14.63%. Tata Investment Corp, Eicher Motors, Torrent Pharma and Abbott India were up 7-11% while Jubilant Foodworks, Infotech Enterprises, Redington, GMDC and TTK Prestige lost 3-4%.

About 1972 shares advanced as against 921 shares declined on the BSE.

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At 15:12 hours IST : Nifty maintains uptrend; JP Associates surges 8%

Indian equities maintained thier strong uptrend, however, profit booking had started to creep in at higher levels. All sectoral indices were quite supportive, except FMCG.

The 30-share BSE Sensex was trading at 17,074, up 211 points and the 50-share NSE Nifty rose 62 points to 5,126.

Reliance Industries saw some profit booking; the stock gains stood at 1.7% as against 2.7%. Meanwhile ITC extended losses; the stock fell over 1%.

NTPC was the leading gainer on Nifty; it surged 3.5%. HDFC Bank, SBI, L&T, HDFC, Wipro and BHEL rallied 2-3%.

Jaiprakash Associates too moved up further; shot up 8% to Rs 71.5.

On the global front, France's CAC, Germany's DAX and Britain's FTSE climbed 2-3%.

About 1991 shares advanced as against 861 shares declined on the BSE.

At 14:14 hours IST : Global rally drives Sensex 280 points higher; RIL surges

Rally in European and Asian markets pushed the Indian equity benchmarks higher. The 50-share NSE Nifty gained 86 points to touch 5,150, as about 11.5 shares advanced for every share declined. Meanwhile, the 30-share BSE Sensex surged 280 points to 17,143.

On the global front, major European markets like France's CAC, Germany's DAX and Britain's FTSE shot up 2.5-3%. The Dow Jones futures climbed 88 points. Asian markets closed 2-4% higher.

Almost all sectors were on buyers' radar - the BSE Bank, Metal, Capital Goods, Realty and Power indices were up 2-2.5%. Oil & Gas and Auto indices rose 1-1.6%.

Major largecaps like Reliance Industries, HDFC Bank, SBI, L&T, HDFC, NTPC and Wipro rallied 2-3.5%. TCS, ONGC, Bharti and ICICI Bank climbed 1-1.5%.

Jaiprakash Associates reclaimed its top position on the gainers list; the stock shot up 7.5%.

SAIL, Hindalco, ACC, HCL Tech, Tata Power, Ambuja Cements and Reliance Communications surged 3.5-5.5%. However, ITC, Sun Pharma, Dr Reddy's Labs and Infosys were only losers.

The broader indices too were following the same trend - the BSE Midcap and Smallcap indices rose 1.5%.

In the midcap space, IVRCL jumped 11%. Abbott India, NCC, Eicher Motors and TV18 Broadcast rallied 7-9%.

About four shares gained for every share falling on NSE.

At 13:12 hours IST : Sensex surges; banks, capital goods, power gain

Equity market, aided by global cues and hectic buying across sectors, remained stable at higher levels. Rest of Asia as well as European markets were also trading higher. Heavyweight like Reliance, ICICI Bank, L&T, HDFC Bank and NTPC were major contributors to the bourses.

Capital Advisors said that risk aversion will continue in the market as the macro environment continues to be weak. However, she feels that interest rates will start peaking out from current levels and money will start pouring into emerging markets like India in the near term.

The Sensex was up 234.18 points or 1.39% at 17096.99, and the Nifty was up 71.60 points or 1.41% at 5135.90.
 
About 1912 shares advanced against a decline of  789 shares. Nearly1003 shares remained unchanged.

Index heavyweight Reliance was trading at Rs 837.50 up 2.03% from its previous close of Rs 820.85.

Cigarette major ITC was trading at Rs 201.10 down 0.54% from its previous close of Rs 202.20.

On the sectoral front, BSE bankex has outperformed other sectoral indices, it was up over 2%. Strong buying was also seen in metal, capital goods, power, oil & gas and realty stocks.

Most active shares on BSE were Everonn Educomp, SBI, Tata Coffee, Reliance and Rushil Decor.

At 12:20 hours IST : Sensex gains over 200 pts; SBI, HDFC Bank swell 3%

Investors are in a rush to pick up shares of Reliance Industries, SBI, HDFC Bank, TCS, L&T and HDFC. Prices of these stocks are up in the 1.6%-3% range. The 30-share BSE Sensex index surged 209 points to 17,071 and the 50-share NSE Nifty was trading at 5,129, up 65 points.

Global markets moved up further; European indices futures like France's CAC, Germany's DAX and Britain's FTSE were trading 2.5% higher. Dow Jones futures gained 1%.

Heavyweight Reliance Industries and SBI rose 1.6% and 3%, respectively. L&T, HDFC and Wipro gained 1.9% each.

TCS, NTPC and ICICI Bank went up 1.4% each. HDFC Bank rallied nearly 3%. Among other largecaps, Bharti Airtel and ONGC moved up 0.5-1%.

Biggest gainers - Tata Power, ACC, Jaiprakash Associates, Ambuja Cements, HCL Tech and Reliance Communications shot up 4-7%.

However, ITC, Sun Pharma, M&M, Hero Motocorp, Tata Motors and Dr Reddy's Labs were only losers; these stocks fell 0.3-0.9%.

Among midcaps like IVRCL, Sterlite Tech, Tata Investment Corp, Educomp Solutions and Prism Cement rallied 5-7%.

In the smallcap space, Vascon Engg, Ajmera Realty, Parekh Aluminex, SML Isuzu and Jai Balaji Ind lost 11-15%.

At 11:30 hours IST : Sensex holds on to gains; Everonn, SBI most active

Indian equity benchmarks held on to the gains supported by financial, oil & gas, power, capital goods, metal, ADAG and cement stocks. However, profit booking continued in auto stocks. The 30-share BSE Sensex was trading at 17,002, up 139 points and the 50-share NSE Nifty rose 43 points to 5,107.

Among largecaps, Jaiprakash Associates and ACC shot up 5-6%. Tata Power, Hindalco, SBI, Coal India, Ambuja Cements and HCL Tech jumped 2-3.5%.

However, Infosys, ITC, Sun Pharma, Tata Motors, Maruti Suzuki and Hero Motocorp declined 0.6-1%.

Everonn Education, SBI, Tata Coffee, Educomp Solutions, Reliance Industries, Infosys and ICICI Bank were most active shares on exchanges.

In the midcap space, Sterlite Tech, IVRCL, Educomp Solutions, SKS Microfinance and KEC International rallied 5-7%. However, KGN Industries, Anant Raj Industries, TTK Prestige, Petronet LNG and Jain Irrigation fell 1.5-5%.

In the smallcap space, Ajmera Realty, Vascon Engg, Parekh Aluminex, Jai Balaji Industries and Bodal Chemicals surged 9-15% while Sical Logistics, Oriental Hotels, Prabhav Industries, Prraneta Industries and Shri Ganesh slipped 5-9%.

Three shares gained for every share falling on NSE.

Asian markets gained further; Shanghai, Hang Seng, Nikkei, Straits Times and Taiwan moved up 1.5-2%. Kospi surged 3.5%.

At 10:21 hours IST : Nifty extends gains; SBI, HDFC Bank, HDFC rally 2% each

Benchmarks Nifty and Sensex extended gains along with rest of Asia. The 30-share BSE Sensex was trading at 17,030, up 167 points and the 50-share NSE Nifty surged 48 points to 5,113. The broader indices too gained 1%.

Among Asian markets, Kospi jumped nearly 3%. Shanghai, Hang Seng, Nikkei, Straits Times and Taiwan went up 1-1.8%. The Dow Jones futures gained 44 points ahead of President Barack Obama speech today.

Financials were leading the market. SBI, HDFC Bank and HDFC rallied 2% each. ICICI Bank, Kotak Mahindra Bank and PNB rose 1% each.

ACC, Tata Power and Jaiprakash Associates were biggest gainers; these stocks jumped 4-5%.

Among other largecaps, ONGC, Reliance Industries, L&T, Wipro, SAIL and DLF gained 0.9-1.8%. Bharti, NTPC and BHEL were up 0.5%.

However, auto stocks were witnessing profit booking. Tata Motors, Hero Motocorp, M&M, Maruti and Bajaj Auto fell 0.3-0.7%.

ITC, Infosys and JSPL were down 0.5-1%.

At 9:18 hours IST : Sensex hits 17000, Nifty reclaims 5100 in opening trade

Equity benchmarks continued to gain on the back of positive Asian cues, and sharp recovery in the US markets. The Nifty has hit the 5100 level while the Sensex touched the 17,000 mark in the opening trade.

Banking, oil & gas, power and select technology stocks were supporting the market. At 9:17 hours IST, the 50-share NSE Nifty was up 36 points at 5,101 and the 30-share BSE Sensex gained 139 points at 17,002.

Jaiprakash Associates gained 2.5% on the back of buzz of stake sale in cement business.

HCL Tech, Cairn India, Reliance Capital, SAIL, ICICI Bank, ACC, SBI, Reliance Industries, DLF, JSPL, Bajaj Auto, Bharti Airtel, Kotak Mahindra Bank, Tata Steel and Hero Motocorp were leading the market.

The CNX Midcap rose 55 points to 7,453. The Nifty Junior jumped 77 points to 10,229.  

Pipavav Shipyard jumped 3% as company raised Rs 160 crore by issuing convertible warrants at Rs 78 a share.

Tata Coffee, Mangalore Chemical and 3i Infotech gained 3.5% each. Shree Renuka Sugar rallied 4% on stake sale buzz.

IVRCL and Escorts rose 2% each. SKS Microfinance was locked at 5% upper circuit for third consecutive session.

However, Everonn Education fell 6%, though it showed some recovery from day's low (it has been falling since Friday - it lost over 50%). Mahindra Satyam was down 1%

Global cues:

Asian markets were trading higher. Nikkei, Kospi and Taiwan went up 1-2%. Shanghai, Hang Seng and Straits Times rose 0.5-0.9%.

The US equity markets recovered from day's low after initial sell-off on Tuesday. ISM Service Index improved more than expected. Now everyone is eyeing for events like President Barack Obama speech, BoE and BoE on Thursday.

Banks continued to suffer globally after Federal Housing Finance Agency sued 17 large US banks and financial institutions over USD 200 billion in subprime mortgage-backed bonds.

The Dow Jones Industrial Average ended down 101 points at 11,139, after seeing recovery of 207 points from day's low of 10,932.

NASDAQ Composite ended down 6.5 points at 2,474, after seeing recovery of 59 points from day's low of 2,414. The S&P 500 Index ended down 9 points at 1,165, after seeing recovery of 25 points from day's low of 1,140.

Commodities

December gold contract closed down 0.1% at USD 1872.3/ounce. It hit USD 1923 an ounce in early trade yesterday.

December silver contract fell 1.2% at USD 41.87/ounce

October crude oil contract was down 0.5% at USD 86.02/barrel

October natural gas contract rose 1.8% at USD 3.94/MMBtu

F&O cues:

Total Stock Futures Open Int add 3.2 cr shares

Discount at 3 pts versus discount at 3.7

Nifty Open Int PCR at 1.39 versus 1.38

Total Put adds 33.78 lkhs shares

Total Call adds 20.38 lakh shares

Open Interest Outstanding at 4700 Put, 4800 Put and 4600 Put

Nifty 4600 Put adds 5.08 lk shrs in Open Int

Nifty 5300 Call adds 4.88 lk shrs in Open Int

Nifty 5200 Call adds 4.14 lk shrs in Open Int

Nifty 5000 Put adds 3.35 lk shrs in Open Int

Nifty 4900 Put adds 3.20 lk shrs in Open Int

Nifty 4700 Put sheds 55k shrs in Open Int

Nifty 4800 Call sheds 49k shrs in Open Int 

India VIX up 2.98% at 28.66