Mkts end 2% up on +ve global cues; commodities, infra gain

ALSO READ See Key Market Stats - Top Gainers/ Losers, Most Actives, Highs/Lows See how Global Markets are trading Indian ADRs Nifty BSE | NSE 29/05/12 Are Mutual Funds betting on Nifty?

Mkts surge; infrastructure, metal, cement, FMCG rally

At 14:55 hours IST - the benchmark indices were witnessing huge buying interest, as shares of infrastructure, oil & gas exploration, telecom (barring Idea), metal, FMCG and select financial companies remained on the uptrend. Positive global cues were also supporting the markets. However, there was a less participation from the broader indices.

Among the frontliners, ONGC, Reliance Industries, BHEL, Bharti, NTPC, L&T, HDFC Bank, Reliance Communication, Cairn, SAIL, HUL, Wipro, Sterlite, ITC and Tata Power gained 2-6%. However, DLF, Hero Honda, Suzlon, Tata Motors, Sun Pharma and Idea were under pressure.

The Nifty was up 101 points, to 4,652 and the Sensex rose 328 points, to 15,455. The BSE Midcap Index rose 1% while Smallcap Index was flat.

On the sectoral front, Capital Goods and Power indices moved up 3% each. Healthcare, Bank, FMCG, Metal and Oil & Gas indices rose 2-2.4%. IT Index was up 1%. However, Realty Index fell 1.5%.

Cement stocks were buzzing; India Cements and JK Lakshmi Cement were up over 8%. Prism Cement shot up 15.12%. ACC, Ambuja Cements, Binani Cement, Birla Corp, Dalmia Cement, Heidelberg Cement, JK Cement, Madras Cements, Mangalam Cement, Shree Cements and UltraTech Cement went up 2-5%.

The market breadth was in favour of declines; about 1265 shares advanced while 1586 shares declined. Nearly 292 shares were unchanged.

On the global front, European markets gained over 1.5%. Dow Jones and Nasdaq futures went up over 1%.

Mkts rally; RIL, Infy, L&T, ICICI Bank, ONGC gain

The markets continued trading strong as capital goods, power, banks, metals, FMCG, pharma and oil & gas stocks were witnessing strong buying interest. Reliance, Infosys, L&T, ICICI Bank and HDFC were positive contributors to the Sensex.

 

At 14.05 hrs IST, the Sensex was up 418.30 points or 2.77% at 15545.30, and the Nifty was up 119.90 points or 2.63% at 4670.85.

 

About 1469 shares advanced, 1363 shares declined, and 311 shares were unchanged.

 

Top gainers on the Sensex were Wipro at Rs 447.95 up 5.71%, Tata Power at Rs 1,205 up 5.67%, HDFC Bank at Rs 1,493 up 5.48%, BHEL at Rs 2,360.05 up 4.95% and Reliance Infra at Rs 1,203 up 4.67%.

 

Cigarette major ITC was trading at Rs 195.35 up 2.55% from its previous close of Rs 190.50.

 

Refinery major HPCL was trading at Rs 329.00 up 2.03% from its previous close of Rs 322.45. 

 

Top gainers on the BSE Midcap - Patel Eng, ING Vysya Bank, Godfrey Phillip, Videocon Indust and Lanco Infratech were up 9-11%.

 

Top gainers on the BSE Smallcap - Asian Hotels, Everonn Systems, Prism Cement, Usha Martin and JK LakshmiCemen were up 10-20%.

Mkts bullish on +ve European cues; Nifty above 4650

At 12:53 hours IST - the relentless buying in shares of oil & gas exploration, infrastructure, metal, telecom, financial and technology stocks was keeping the markets warm. The positive European cues were also being supportive to our markets; the FTSE rose 67 points, to 4,471. The CAC gained 51 points at 3,347 and the DAX went up 65 points, to 5,062.

The Sensex was trading at 15,473, up 346 points and the Nifty went up 105 points, to 4,656. Only five out of 50 Nifty stocks were in the red. The broader indices were up 0.9-1.5%. All sectoral indices were in the green.

Among the frontliners, Tata Power, Wipro, HDFC Bank, L&T, Reliance Infrastructure, HCL Tech and Cairn India were top gainers, gained 5-9%. Sterlite, HUL, ACC, NTPC, Bharti Airtel, Grasim, ICICI Bank, Reliance Communication and Tata Steel went up 2.5-4.5%.

Montek Singh while talking to Network18 said one more stimulus package would be expected and 2009-10 is expected to be difficult year.
 
The market breadth was in favour of advances; about 1512 shares advanced while 1308 shares declined. Nearly 323 shares were unchanged.

On the sectoral front, BSE Capital Goods, Metal, Bank, Power, TECk, Healthcare, IT, Oil & Gas and FMCG indices gained 2-3%.

Tata Tele is going to invest $2 billion for pan-India GSM rollout and it sees national rollout in 6 months. Tata Teleservices (Maharashtra) was up just over 1%.

Nymex crude July contract was trading above USD 71 a barrel. Cairn India and ONGC gained 4.4% each. Reliance Industries and Reliance Petroleum were up 1.7% each.

Mkts strong; ONGC, RIL, HDFC, L&T, SAIL, HDFC Bk lead

At 11:53 hours IST, the markets were witnessing huge buying interest despite seeing some selling pressure at higher levels. Shares of oil & gas exploration, capital goods, power, metal and banking (barring SBI) companies were supporting the markets. However, the sell-off in DLF, SBI, Suzlon, Sun Pharma, BPCL and Tata Motors capped the gains to some extent.

ONGC, NTPC, Reliance Industries, L&T, HDFC Bank, SAIL, Wipro, Bharti, Sterlite, HUL, Tata Power, HDFC, BHEL, Tata Steel and Reliance Infrastructure were the leading counters.

The Sensex rose 300 points, to 15,427 and the Nifty went up 88 points, to 4,638. The broader indices lost some of their gains; the BSE Midcap Index was up 1% and the Smallcap Index rose 0.6%.

On the sectoral front, Capital Goods, Metal, Power and Bank indices were up 2-2.9%. Oil & Gas, FMCG, Healthcare, IT and Auto indices went up 1-1.9%.

The market breadth was positive; about 1549 shares advanced while 1248 shares declined. Nearly 346 shares were unchanged.

In the midcap space, Tech Mahindra, Godfrey Phillip, ING Vysya Bank, Piramal Health and Videocon Industries gained 8-10%. However, Jai Corp, Gammon Infra, JM Financial, National Fertiliser and Sun Pharma Advanced fell 4-5%.

In the smallcap space, Asian Hotels, Jyothy Labs, Infomedia 18, Everonn Systems and Geefcee Financial gained 6.5-17% while Sanghi Industries, Andrew Yule, Indage Vintners, Cinemax India and Lok Housing lost 5% each.

Nymex crude July contract was trading at USD 71 a barrel, up USD 1.

Sensex tests 15500; Metal, Cap Goods, Power indices up 3.5%

At 10:45 hours IST, huge buying in metal, infrastructure (capital goods and power), realty, auto, banking and oil & gas stocks was helping the markets to extend current rally. The Sensex crossed the 15500 level and the Nifty as trading above the 4650 mark.

Mitesh Thacker, Technical Analyst of miteshthacker.com said, "4,600 is a level where crucial supply will come in. "To go up and to continue the momentum on the upside, the Nifty needs to close above 4,600 then probably you can go upto 4,790," he said

The 30-share Sensex shot up 376 points, to 15,503 and the Nifty rose 113 points, to 4,664. The market breadth was positive; about 1932 shares advanced while 864 shares declined. Nearly 346 shares were unchanged.

JPMorgan, in their report, initiated coverage on the Satyam with overweight rating and kept June 10 PE-based target of Rs 100. It expected business of the company to stabilise by 2009-end with growth in 2010. Satyam was locked at 10% upper circuit and there were pending buy orders of 13,081,292 shares, with no sellers available. Tech Mahindra gained 14%.

Bharti Airtel signed managed services deal with Comviva, the stock rose just 0.5%. The company said Comviva would provide value-added services solutions for 3 years.

LME Copper hit new 2009 high of $5,220/tonne. The BSE Metal Index surged 4%. Among the other sectoral indices, Capital Goods and Power indices gained 3.4-3.6%.

Realty, Auto, Oil & Gas, Healthcare and Bank indices were up 2.5-2.8%. The broader indices outperformed the benchmark indices; the BSE Midcap and the Smallcap indices rose 3% each.

In the metals space, Sterlite, JSW Steel, SAIL, Sesa Goa, Hindalco, Tata Steel and NALCO gained 3.5-6%.

Among the capital goods stocks, ABB, L&T, Siemens, Suzlon Energy and Punj Lloyd were up 3.5-5%. BHEL rose 1.57%.

In the power pack, Reliance Infrastructure, Tata Power, GVK Power and NTPC went up 4-7.7%.

In the banking space, HDFC Bank was up 5.16%. PNB, Axis Bank and ICICI Bank were up 2-3%. SBI gained 0.89%.

Nifty above 4600 led by infrastructure, metals, financials

The markets opened on a strong note on the back of positive Asian cues and continued their uptrend for the second straight day. Metal, infrastructure, realty and select financials were supporting the markets followed by the broader indices. The Nifty surpassed the 4600 mark and the Sensex was moving towards the 15500 level.

At 9:57 am, the Sensex was up 328 points, to 15,455 and the Nifty rose 87 points, to 4,640. Among the broader indices, the CNX Midcap went up 1.9%, to 5,676 and the BSE Smallcap Index gained 1.77% at 6,295.

Among the frontliners, Cairn, Tata Steel, Hindalco, Sterlite, L&T, Sun Pharma, Reliance Infrastructure, ITC, DLF, Suzlon, HDFC, HDFC Bank, Unitech, Reliance Capital, HCL Tech and Reliance Industries were helping the markets. However, SBI was the loser.

Midcap Space

Satyam was locked at 10% upper circuit today as well. Tech Mahindra shot up 10%.

Technology stocks like Rolta, Firstsources, Polaris and Sasken Communication were up over 6%.

Oswal Chemical was locked at 10% upper circuit for the second consecutive day.

Prism Cement and Asian Hotel were the other gainers, rose over 5%.

Global cues:

Asian markets were trading higher. Hang Seng, Nikkei, Seoul Composite and Taiwan Weighted gained 1.2-2.3%. Shanghai, Jakarta and Straits Times rose 0.5-0.9%.

The US markets ended flat amid improved outlook from Texas Instruments and news that 10 banks to repay TARP (Troubled Asset Relief Program) funds.

The CRB Index gained 1.5% as Dollex Index declined 1.6%. The Dow Jones Industrial Average ended flat at 8,763 and the Nasdaq Composite was up 17.7 points at 1,860. The S&P 500 closed up 3.3 points at 942.4. CBOE VIX ended down 5% at 28.27.

Commodities

Reuters CRB Index gained 1.6%.

Nymex July crude gained 3% at $70 a barrel, highest settlement since fourth November.

Copper was up 5% and Aluminium rose 2.7%. Nickel went up 4.9% and Zinc rose 3.9%.

Gold gained 0.2% at $954/ounce.

Baltic Dry Index was down 3.5%.

Market cues:

-NSE F&O Open Int up by Rs 3,139 crore at Rs 77,312 crore
-FIIs net buy Rs 955 crore in cash markets on June 9 (prov)
-DIIs net sell Rs 143 crore in cash markets on June 9 (prov)
-FIIs net sell Rs 341 crore in F&O

F&O cues:

-Stock Futures add 7.2 crore shares, shed 6 crore shares in last 2 trading sessions
-Futures Open Int up by Rs 2,327 crore, Options Open Int up Rs 811 crore
-Nifty down 2.7%, Open Int unchanged, Nifty June Futures trading at Par with cash
-Nifty Open Int Put Call Ratio at 1.09 versus 1.01
-Nifty Puts add 19.8 lakh, Calls shed 8.2 lakh shares in Open Int
-Nifty 4300 Put adds 5.1 lakh shares in Open Int
-Nifty 4400 Put adds 3.74 lakh shares in Open Int
-Nifty 4200 Put adds 2.9 lakh shares in Open Int
-Nifty 4600 Call shed 5.4 lakh shares in Open Int
-Nifty 4500 Call shed 3.8 lakh shares in Open Int