December 28, 2012

Market Pulse - Dec 28, 2012

Fri, Dec 28, 2012 at 16:30 PM
Markets closes positive.
Markets after firm start, retreated a bit on mild selling pressure, but later gained in strength as the session progressed, and finally, despite some selling at a few front line counters, managed to close positive. Sensex, which surged to 19,465.74, ended the day with gain of 121.04 points or 0.63% at 19,444.84, while Nifty surging to high of 5,915.75, closed with gain of 38.25 points or 0.65% at 5,908.75.

Recent announcements on additional incentives to boost exports and the statement from finance minister that the economy will grow at a healthy rate thanks to strong fundamentals and high savings rate helped lift sentiment to an extent. Investors were also betting on hopes the U.S. government would come out with measures to fix the fiscal cliff.

Sectoral wise, PSUs oil stocks had a good day, amid rate hike expectations in fuel prices, leading Oil & Gas index surged by 2.40%. IT sector stocks also started on a subdued note, later gaining in strength, along with select Metal, Consumer Durables, Capital Goods and Power stocks posting impressive gains. However, Automobile, FMCG and Realty stocks found modest support. Bank and Healthcare stocks mostly ending flat, after a choppy ride. While several stocks from the Mid-cap space moved up smartly, buying was quite selective in the Small-cap segment.

Reliance Industries (2.8%) and ONGC (2.5%) rose sharply and contributed substantially to the market's bright close. Infosys chipped in with a smart gain of 1.4%, while Wipro and Tata Consultancy Services ended higher by around 1.3%. Sterlite Industries gained around 2.3%. Hero Motocorp, Maruti Suzuki, GAIL India, Hindalco, HDFC, NTPC, BHEL, Hindustan Unilever, ICICI Bank and Tata Power also closed on a firm note. BPCL, Indian Oil Corporation and Hindustan Petroleum Corporation closed sharply higher on sustained buying interest. IDFC, Cairn India, Sesa Goa, Asian Paints, Siemens and Ambuja Cements also ended higher. Cholamandalam Investment, Kalpataru Power Transmission, Suzlon Energy, Union Bank of India and Karnataka Bank moved higher on stock specific news. Pantaloon Retail gained nearly 7% on impressive volumes. Bharti Infratel made a weak debut. The stock ended at Rs 191, down more than 13% from the issue price of Rs 220. The Bharti Infratel counter on the National Stock Exchange clocked a volume of over 35 million shares today.

Axis Bank, State Bank of India, HDFC Bank, Tata Steel, Mahindra & Mahindra, Sun Pharmaceutical Industries and Dr Reddy's Laboratories ended weak.

Overall market breadth was marginally positive, from 3019 stocks 1514 stocks moved up, while 1371 stocks declined and 134 stocks ended flat.

Fri, Dec 28, 2012 at 14:15 PM
Markets trading firm.
Markets trading firm, with Sensex up by 51.60 points or 0.27% at 19,375.40, around 60 points off the day's high of 19,445.04, while Nifty is up by 17.20 points or 0.28% at 5887.30.

ONGC and Reliance Industries are trading firm, gaining 2.5% and 2%, respectively. Sterlite Industries and Infosys are up nearly 1.5%. Maruti Suzuki, Hero Motocorp and Wipro are trading higher by 1% - 1.4%.

Fri, Dec 28, 2012 at 12:30 PM
Markets firm.
Markets is now trading firm with Sensex gaining 0.54 percent, while Nifty is up 0.56 percent.

Oil companies are leading the gains after petroleum ministry had proposed a gradual rise in diesel prices, by 1 rupee a liter every month over a 10-month period. Fuel subsidies in India are borne by the government, marketing and refining companies, as well as explorers.

Hindustan Petroleum Corp Ltd gains 4.39 percent, Indian Oil Corp Ltd rises 2.72 percent, while Bharat Petroleum Corp Ltd is up 3.81 percent. Oil and Natural Gas Corp shares are up 2.92 percent.

Fri, Dec 28, 2012 at 10:00 AM
Bharti Infratel lists at discount.
Bharti Infratel is trading at Rs 195, a 2.5% discount to its issue price of Rs 200 to retail investors. The stock opened at Rs 200 and hit a high of Rs 201 so far. A combined 7.16 million shares have changed hands on the counter on both the exchanges at 1007 hours.

The issue was subscribed 1.3 times. Of the total shares reserved for retail investors, there were bids for 19%, while non-institutional investor’s category was subscribed 29%. On the other hand, the Qualified Institutional Buyers (QIBs) book, was subscribed 2.84 times

Fri, Dec 28, 2012 at 10:00 AM
Markets edged higher.
Markets after edging higher in early trades is maintaining the early gains. Sensex is up 72 points or 0.37% at 19,395.80, after surging to 19,427.79, while Nifty is up 25 points or 0.41% at 5895.

Hindalco and ONGC are trading stronger by over 2%. Sterlite Industries, Reliance Industries, NTPC, Hero Motocorp, GAIL India, Cipla, Infosys, Maruti Suzuki and BHEL are up 1% - 1.6%.

Among other shares, Suzlon Energy is trading higher by over 4% to Rs 18.75, extending its previous day’s about 2% gain, after the foreign institutional investor, Morgan Stanley Mauritius Company acquired more than 30 million shares of the company from its promoter via an open market transaction.

Shares of public sector undertakings (PSU) oil marketing companies (OMCs) like BPCL, HPCL and IOC are trading higher by up to 4% in morning trades on reports that the Government is looking at the option of increasing diesel and kerosene prices by Rs 10 per litre in phases.

Fri, Dec 28, 2012 at 09:30 AM
Markets edged up.
Markets edged higher in early trades, tracking positive cues from Asian markets. Sensex, which rose to 19,420.52, is currently up by 70 points or 0.35% at 19,393.80. Nifty edged up by 25 points or 0.43% at 5,895.

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