The markets have moved into green andare trading near the high point of the day as some buying is seen at the lower levels. Bargain buying is seen in banking, power, capital good stocks. Sensex has inched above the 19,000 levels and the Nifty is hovering around the 5,700 levels.
Heavies like SBI, HDFC Bank, L&T, Reliance Ind, NTPC are helping the markets trading higher.
At 1:10 pm, the Sensex was up 291.65 points or 1.56% at 19028.92, and the Nifty up 85.60 points or 1.52% at 5702.70.
About 2060 shares have advanced, 916 shares declined, and 89 shares are unchanged.
Broader markets have held out their gains and both midcap and smallcap indices were up 2% each.
However, the IT and FMCG stocks are still under pressure. Market breadth is positive and the volume in the first half of trade was impressive.
Apart from frontliners like SBI and HDFC Bank midcaps like Vijaya Bank, Uco Bank, Syndicate are the other gainers in banking sector. The bankex is up 1.6%.
Among the frontliners HDFC Bank was up over 5%, MTNL up over 4%, HDFC, L&T, SBI, Suzlon, Tata Power, NTPC each up over 3%. ICICI Bank, Tata Steel, Tata Motors, Maruti are up over 2% each.
Top losers on the Nifty are Wipro at Rs 445 down 2.5%, ITC at Rs 175.10 down 2.07% and Mah and Mah at Rs 712 down 2.06%.
Most active shares on NSE were Reliance Natura at Rs 153.35, Reliance Petro at Rs 218.35 and Reliance at Rs 2,686.
In the IT counter, the major losers were Wipro at 457.45 down 2.74%, Infosys at 1,610 down 1.95%, I-Flex Solution down 1,400 down 1.90% and Mphasis at 277.05 down 1.51%.
Metals stocks were attracting buying and the major gainers were Jindal Steel at 11,712.10 up 8.98%, JSW Steel at 894 up 3.34%, JindalStainless at 163.40 up 3.06% and Jindal Saw at 772.80 up 2.39%.
Mkts turn volatile; IT stocks weak
The markets have turned volatile. Capital goods, power and metal stocks continue to trade strong, however the IT and FMCG stocks are still under pressure. Market breadth is positive and the volume in the first half of trade was impressive.
At 11.30 am, the Sensex is up 48.40 points or 0.26% at 18785.67, and the Nifty up 11.65 points or 0.21% at 5628.75. About 2026 shares have advanced, 957 shares declined, and 82 shares are unchanged. On NSE over 425 stocks were on the advancing side and around 350 stocks on the decline side.
Top gainers on the Nifty are Suzlon Energy at Rs 1,979 up 4.14%, HDFC at Rs 2,598 up 3.22% and Tata Power at Rs 1,257 up 2.72%.
Top losers on the Nifty are Wipro at Rs 445 down 2.5%, ITC at Rs 175.10 down 2.07% and Mah and Mah at Rs 712 down 2.06%.
Most active shares on NSE were Reliance Natura at Rs 153.35, Reliance Petro at Rs 218.35 and Reliance at Rs 2,686.
In the IT counter, the major losers were Wipro at 457.45 down 2.74%, Infosys at 1,610 down 1.95%, I-Flex Solution down 1,400 down 1.90% and Mphasis at 277.05 down 1.51%.
Market sees buying in metal, cap good stocks
The markets have gained some more points on the back of buying witnessed in the power, capital good and metal stocks. Midcap and smallcap have outperformed the large caps today. Banking and IT stocks are trading weak since opening today, however, power and capital good stocks are strong.
Market breadth was positive with over 830 stocks on the advancing side and only 245 stocks on the decline side. Rupee was quoting at 39.36 against a US dollar.
At 10.50 am, the Sensex is up 82.01 points or 0.44% at 18819.28, and the Nifty up 36.15 points or 0.64% at 5653.25. About 1965 shares have advanced, 1006 shares declined, and 94 shares are unchanged.
Top gainers on the Sensex are Hindalco at Rs 213.40 up 3.19%, Reliance Comm at Rs 710.30 up 2.23% and NTPC at Rs 258.40 up 1.93%.
Top losers on the Sensex are ICICI Bank at Rs 1,115.15 down 2.75%, Wipro at Rs 445 down 2.72% and HDFC Bank at Rs 1,448.05 down 1.86%.
Most active shares on NSE were Reliance Natura at Rs 153.35, Reliance Petro at Rs 218.35 and Reliance at Rs 2,686.
Metals stocks were attracting fresh buying and the major gainers were Jindal Steel at 11,712.10 up 8.98%, JSW Steel at 894 up 3.34%, JindalStainless at 163.40 up 3.06% and Jindal Saw at 772.80 up 2.39%.
Mkts open on flat note; Rel Comm, TCS, NTPC gain
The markets opened on flattish note today in line with its Asian peers. Asian markets were trading mixed. At 9:56 am, Sensex was down 56 points at 18681 and Nifty was up 7 points at 5624. Major gainers were Rel Comm, Hindalco, TCS, NTPC. However, Reliance, Sterlite, HDFC bank, ICICI Bank, Satyam, Infosys, BHEL, Rel Petroleum were trading down.
Asian indices were trading mixed today. Hong Kong's Hang Seng gained 0.51% or 140.50 points at 27,806.23, Taiwan's Taiwan Weighted rose 0.73% or 62.89 points at 8,733.50, South Korea's Seoul Composite advanced 0.17% or 3.20 points at 1,926.62, However, Japan's Nikkei fell 0.17% or 26.53 points at 15,170.56 and Singapore's Straits Times was down 0.55% or 19.36 points at 3,491.76.
US markets: The Dow fell 55.19 points, or 0.42%, to 12,987.55, after falling 4.06% last week. The Standard & Poor's 500 index fell 14.52 points, or 1%, to 1,439.18, while the Nasdaq composite index dropped 43.81 points, or 1.67%, to 2,584.13.
Market cues:
* FIIs net sell USD 71.1 million in equity on Nov 8, 9
* MFs net sell Rs 221.3 crore in equity on Nov 8
* MFs net buy Rs 3.7 crore in equity on Nov 9
* NSE F&O Open Interest up by Rs 759 crore at Rs 93,528 crore
* FM says no plans to introduce further measures to control capital flows
Tuesday, November 13, 2007
Correction in the market is not over yet, says E Mathew, technical analyst, on CNBC-TV18. The market needs to do some base builiding, which may happen at around 5400, he says. Once base building is done, the market will again move up to cross 6000, he adds. So there's still some pain left and the level to watch out for is 5400, he says.
If the Sensex breaks the low it made on Monday, then it could go down to 17,000, says Hitendra Vasudeo, technical analyst, on CNBC Awaaz. Yesterday's low is a good support for the Sensex for now, he adds.
The market opened slightly higher Tuesday, was flat for a few seconds and has now fallen slightly. The Sensex is currently trading at 18,660, down 84 points from the previous close. Nifty is at 5592, down 24 points. Market breadth is positive, with 290 advances against 146 declines on the NSE.
If the Sensex breaks the low it made on Monday, then it could go down to 17,000, says Hitendra Vasudeo, technical analyst, on CNBC Awaaz. Yesterday's low is a good support for the Sensex for now, he adds.
The market opened slightly higher Tuesday, was flat for a few seconds and has now fallen slightly. The Sensex is currently trading at 18,660, down 84 points from the previous close. Nifty is at 5592, down 24 points. Market breadth is positive, with 290 advances against 146 declines on the NSE.
Monday, November 12, 2007
BSE has tied-up with US Futures Exchange for Sensex derivatives in the US, reports CNBC-TV18.
Trading in dollar-denominated Sensex Futures will start on February 22, 2008.
The NSE has done it in Singapore and now the BSE wants to list the index futures in the US. The BSE has tied up with the US Futures Exchange to list Sensex futures. Trading in these futures will start on February 22, and trading will be carried on for 23 hours a day, for five days in a week.
“The strategy is to see that while the Indian market is on, certain other markets have an overlap, but US would be closed. When you have interest trading, after the market has closed in India, that will provide liquidity. That is probably the uniqueness for this product. It will probably gain liquidity,’ said Rajnikant Patel, CEO of BSE.
But it remains to be seen whether this move will go the Nifty way or whether it will help BSE add that extra zing to its derivatives segment, which has been reeling under low volumes for a while now.
Trading in dollar-denominated Sensex Futures will start on February 22, 2008.
The NSE has done it in Singapore and now the BSE wants to list the index futures in the US. The BSE has tied up with the US Futures Exchange to list Sensex futures. Trading in these futures will start on February 22, and trading will be carried on for 23 hours a day, for five days in a week.
“The strategy is to see that while the Indian market is on, certain other markets have an overlap, but US would be closed. When you have interest trading, after the market has closed in India, that will provide liquidity. That is probably the uniqueness for this product. It will probably gain liquidity,’ said Rajnikant Patel, CEO of BSE.
But it remains to be seen whether this move will go the Nifty way or whether it will help BSE add that extra zing to its derivatives segment, which has been reeling under low volumes for a while now.
Top Five Gainer's
Top Five Loser's
| Company | Price (Rs) | % Change |
| + Neyveli Lignite | 194.70 | +16.52 |
| + Mangalore Refine | 99.20 | +14.42 |
| + I-Flex Solutions Ltd | 1,427.05 | +9.44 |
| + Mirc Electronics | 21.80 | +8.73 |
| + Welspun Gujarat | 367.40 | +8.52 |
Top Five Loser's
| + United Phosphorus | 314.70 | -6.05 |
| + Bank of India | 343.50 | -5.35 |
| + Asian Paints Ltd. | 983.00 | -4.99 |
| + Jet Airways | 784.00 | -4.96 |
| + ONGC | 1,179.50 | -4.78 |
The Indian stock market was the best performer among Asian markets today. Though it traded in the negative terrain throughout the day, it witnessed a strong pullback in the afternoon. The Sensex closed at 18,737, down 170 points from the previous close. Nifty shut shop at 5617, down 46 points. The NSE 50-share index touched an intra-day low of 5477 today. The BSE FMCG index was the only sectoral index to trade in the positive zone today, led by ITC (up 5.3%) and Hindustan Lever (up 2.9%). Top Sensex gainers included NTPC, SBI, Cipla, Hindalco and Ambuja Cements, while losers included ONGC, Bharti Airtel, HDFC Bank, Infosys and Satyam.
Mkts still in red but off lows: ONGC, BHEL plunge
The markets are still in red but have shown marginal recovery and are off day's low. European markets have opened flat to negative without any sharp cuts which has helped the markets to gain some ground.
Selling pressure is seen in scrips across sectors. This has been triggered by the weak cues from the global markets as US mkts ended in red on account of credit concern leading to the decline in the Asian peers.
However, frontliners that had seen a sharp run up have taken it on their chin have underperformed the broader markets. The midcap and smallcap indices are down nearly 2%. Market breadth has been extremely weak since opening today.
At 13.51 hrs IST, the Sensex is down 347.72 points or 1.84% at 18559.88, and the Nifty down 116.50 points or 2.06% at 5546.75.
About 992 shares have advanced, 1996 shares declined, and 77 shares are unchanged.
All the BSE sector indices are trading in red. Realty, metal, oil & gas, power stocks are the worst hit each down over 3%.
Top gainers on the Sensex are ITC up 4%, SBI up over 3%, Hindalco up 1.6% and HUL up 2%.
Top losers on the Sensex are ONGC down over 5%, BHEL & HDFC Bank down 5%, Bharti Airtel is down over 4% and Reliance Comm down over 3%.
Top losers on the Nifty are Sterlite Ind and Tata Power down over 5%.
Most active shares on NSE are Reliance at Rs 2,616 with 718,207 shares, Reliance Natural at Rs 140.15 with 12,275,766 shares and Reliance Petroleum at Rs 213.65 with 7,861,974 shares.
Mkts still in red but off lows: ONGC, BHEL plunge
The markets are still in red but have shown marginal recovery and are off day's low. European markets have opened flat to negative without any sharp cuts which has helped the markets to gain some ground.
Selling pressure is seen in scrips across sectors. This has been triggered by the weak cues from the global markets as US mkts ended in red on account of credit concern leading to the decline in the Asian peers.
However, frontliners that had seen a sharp run up have taken it on their chin have underperformed the broader markets. The midcap and smallcap indices are down nearly 2%. Market breadth has been extremely weak since opening today.
At 13.51 hrs IST, the Sensex is down 347.72 points or 1.84% at 18559.88, and the Nifty down 116.50 points or 2.06% at 5546.75.
About 992 shares have advanced, 1996 shares declined, and 77 shares are unchanged.
All the BSE sector indices are trading in red. Realty, metal, oil & gas, power stocks are the worst hit each down over 3%.
Top gainers on the Sensex are ITC up 4%, SBI up over 3%, Hindalco up 1.6% and HUL up 2%.
Top losers on the Sensex are ONGC down over 5%, BHEL & HDFC Bank down 5%, Bharti Airtel is down over 4% and Reliance Comm down over 3%.
Top losers on the Nifty are Sterlite Ind and Tata Power down over 5%.
Most active shares on NSE are Reliance at Rs 2,616 with 718,207 shares, Reliance Natural at Rs 140.15 with 12,275,766 shares and Reliance Petroleum at Rs 213.65 with 7,861,974 shares.
The Sensex seems to have decent support at 18,300, says Ambareesh Baliga of Karvy Stock Broking, on NDTV Profit. This kind of correction may last for the next 2-3 days, provided global markets dont fall much from here, he says. There is weakness in the medium term, as international flows may slow down in the next 4-6 months, he says. So the Sensex may drift towards 16,000 rather than 20,000 in the next few months, he adds.
Finance Minister P Chidambaram expects the Indian economy to grow at 8.5% in FY08, reports NDTV Profit. He is addressing the Economic Editors' Meet. Rising investment rate will sustain economic growth he says. Inflation is low because of curbs on oil prices, he says. The rupee gain versus dollar is on strong fundamentals, he adds. High growth in capital goods sector will continue, he says. India is expected to grow fastest among BRIC nations, he adds.
Finance Minister P Chidambaram expects the Indian economy to grow at 8.5% in FY08, reports NDTV Profit. He is addressing the Economic Editors' Meet. Rising investment rate will sustain economic growth he says. Inflation is low because of curbs on oil prices, he says. The rupee gain versus dollar is on strong fundamentals, he adds. High growth in capital goods sector will continue, he says. India is expected to grow fastest among BRIC nations, he adds.
European markets have opened almost flat. FTSE is trading slightly higher, while CAC and DAX are in the negative terrain. The market back home seems to be on the recovery path. The Sensex is currently at 18,541, down 366 points and Nifty at 5539, down 124 points from the previous close.
If Ambuja Cements can cross the resistance level of Rs 150-154, then it can go up to Rs 190-195, says Hitendra Vasudeo, technical analyst, on CNBC Awaaz. He recommends accumulating the stock at Rs 130-125 levels. It is currently trading at Rs 145.55, up 0.3% on the BSE.
If Ambuja Cements can cross the resistance level of Rs 150-154, then it can go up to Rs 190-195, says Hitendra Vasudeo, technical analyst, on CNBC Awaaz. He recommends accumulating the stock at Rs 130-125 levels. It is currently trading at Rs 145.55, up 0.3% on the BSE.
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