Daily Market Review
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MARKET REVIEW 1st Sept, 2010
Indian equities bounced back on Wednesday snapping earlier losses. The Sensex ended on a buoyant note with both the bourses gaining over 1% led by metal, realty, teck and IT space. Broader markets too supported the upmove. The barometer index Sensex bounced back in early trade in line with global markets. Some profit bookin was seen at higher levels for a short period. However the indices gained momentum as buying intensified across board. Further opening of firm European market also led to the rally which helped Nifty to breach 5,400 mark. Finally, it wrapped the day on a cheerful note after hitting a high of 18,227.14…
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MARKET REVIEW 30th Aug, 2010
The key benchmark indices registered small gains in what was a choppy trading session. Volatility rose during the last one hour of trade after reports filtered in that the government has tabled the much-awaited Direct Taxes Code bill (DTC) in the Lok Sabha, which proposes to raise the exemption limit on income tax from the current Rs 1.6 lakh to Rs 2 lakh. IT, realty and FMCG stocks fell. But, metal stocks rose. Capital goods reversed initial gains. Index heavyweight Reliance Industries (RIL), too, turned negative from positive. The BSE 30-share Sensex rose 33.70 points or 0.19%, off about 185 points from the day’s high and up close to 70 points from the day’s low…
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MARKET REVIEW 27th Aug, 2010
The key benchmark indices slumped on worries over the pace of the US economic recovery. US is the world’s biggest economy. IT stocks fell after the Union Cabinet approved the new Direct Taxes Code bill wherein it proposed a hike in the rate of minimum alternate tax (MAT) on book profits to 20% from the prevailing 18%. Realty, metal and consumer durables stocks reversed initial gains. Banking stocks fell across the board. But, PSU OMCs rose. The market breadth was weak, in contrast with a strong breadth in mid-morning trade…
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MARKET REVIEW 26th Aug, 2010
The key benchmark indices eked out small gains amid high volatility, as reports of above-normal rains in the week ended Wednesday, 25 August 2010, triggered bargain hunting after a two day slide. Volatility was high as traders rolled positions in the derivatives segment from the near-month August 2010 series to September 2010 series as August 2010 derivatives contracts expired today, 26 August 2010. The BSE 30-share Sensex was up 46.71 points or 0.26%, off close to 35 points from the day’s high and up close to 65 points from the day’s low…
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MARKET REVIEW 25th Aug, 2010
The key benchmark indices edged lower, extending Tuesday’s slide, in what was a choppy trading session. Volatility surged as traders rolled over positions in the derivatives segment from the near-month August 2010 series to the September 2010 series ahead of the expiry of the August 2010 contracts tomorrow, 26 August 2010. The BSE 30-share Sensex was down 131.95 points or 0.72%, off close to 130 points from the day’s high and up close to 25 points from the day’s low. Concerns over the pace of the global economic recovery continued to hurt sentiment…
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MARKET REVIEW 19th Aug, 2010
Bulls were in command as the key benchmark indices achieved highest closing levels in more than 2-1/2-year highs, as the latest data showed easing of food and fuel inflation in early August 2010, which may reduce the pressure on the central bank for further monetary action to rein in inflation. The BSE 30-share Sensex jumped 197.82 points or 1.08%, up close to 180 points from the day’s low and off close to 20 points from the day’s high. Data showing sustained buying by foreign funds, underpinned sentiments. Firm Asian stocks also supported domestic bourses…
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MARKET REVIEW 17th Aug, 2010
The key benchmark indices ended almost unchanged in range bound trade, with worries over global economic recovery capping gains. Nevertheless, investors’ stock-specific approach ensured a decent-to-strong rally in a number of individual scrips. European stocks and US index futures edged higher. Index heavyweight Reliance Industries (RIL) edged lower in volatile trade. FMCG stocks rose. But, IT stocks fell. The market breadth was negative in contrast to a strong breadth earlier in the day. The BSE 30-share Sensex was down 1.93 points or 0.01%, up close to 25 points from the day’s low and off close to 85 points from the day’s high…
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MARKET REVIEW 12th Aug, 2010
Volatility was the order of the day as key benchmark indices swung between gains and losses amid choppy European shares. Shares of India’s biggest commercial bank in terms of branch network, State Bank of India (SBI), surged nearly 7% after it reported strong Q1 results during trading hours. Auto and realty stocks also rose. Tata Motors hit a record high, extending recent strong rally triggered by robust Q1 result. The BSE Sensex closed above the psychological 18,000 mark, after alternatively moving above and below that level throughout the day…
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MARKET REVIEW 11th Aug, 2010
Weak European stocks and a sharp decline in US index futures hit sentiment as Indian stocks declined for the second day in a row. World stocks fell as investors fretted about the pace and sustainability of the global economic recovery. The BSE 30-share Sensex lost 149.80 points or 0.82%, off close to 194 points from the day’s high. The market breadth was weak in contrast to positive breadth earlier in the day. Commercial vehicles major Tata Motors surged for the second day in a row after the company reported turnaround Q1 June 2010 results during trading hours on Tuesday, 10 August 2010…
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MARKET REVIEW 9th Aug, 2010
Bulls are on a rampage. Media reports that the government has relaxed the requirement of minimum 25% public shareholding for listed state-run firms send the key benchmark indices surging to 2-1/2-year highs. A further improvement in the southwest monsoon rains, sustained buying by foreign funds and firm global stocks, also underpinned sentiments. Eleven out of 13 sectoral indices on BSE closed in the green. The market breadth was strong as mid-cap and small-cap indices on BSE outperformed the Sensex. The barometer index BSE Sensex jumped 143.51 points or 0.79%, up close to 148 points from the day’s low and off close to 22 points from the day’s high…
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MARKET REVIEW 6th Aug, 2010
The key benchmark indices reversed initial gains as investors preferred profit taking ahead of the weekend. Index heavyweight Reliance Industries (RIL) dropped. But, media and consumer durables stocks rose. Realty stocks reversed initial gains. Bank stocks fell on profit taking after a sustained rise over the past days. Commercial vehicles maker Tata Motors surged close to 4% on expectations of strong Q1 June 2010 result which is due early next week. Other auto stocks were mixed. The BSE 30-share Sensex shed 28.84 points or 0.16%, off about 100 points from the day’s high and up close to 25 points from the day’s low…
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MARKET REVIEW 3rd Aug, 2010
The key benchmark indices eked out small gains, rising for the second straight day, as banking stocks and index heavyweight Reliance Industries (RIL) rose. Strong sales reported by auto firms for July 2010, data showing sustained buying by foreign funds over the past two months and revival of monsoon rains in the crucial sowing month of July, supported the domestic bourses. The BSE 30-share Sensex was up 33.62 points or 0.19%, off close to 55 points from the day’s high and up close to 40 points from the day’s low…
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MARKET REVIEW 2nd Aug, 2010
The key benchmark indices jumped on the first trading day of August 2010, boosted by strong auto sales in July 2010 and after data showed manufacturing activity picked up pace in the month just gone by. Revival of the monsoon rains in the crucial sowing month of July, sustained buying by foreign funds, and firm global equities, also underpinned sentiments. The barometer index BSE Sensex settled above the psychological 18,000 mark. India’s largest private sector bank by market capitalisation and index heavyweight ICICI Bank surged almost 4% after reporting good Q1 results. Other banking stocks also surged…
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MARKET REVIEW 28th July, 2010
The key benchmark indices edged lower in volatile trade as European stocks and US index futures declined. Index heavyweight Reliance Industries (RIL) fell after Q1 result as gas production is likely to stagnate at 60 million standard cubic metres of gas a day for the next 9-12 months. Two other index heavyweights — ICICI Bank and Larsen & Toubro, too, edged lower. The BSE 30-share Sensex lost 120.24 points or 0.67%, off close to 180 points from the day’s high and up close to 30 points from the day’s low…
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MARKET REVIEW 27th July, 2010
The key benchmark indices ended a tad higher as firm European stocks and higher US index futures, helped the domestic bourses shrug off a rate hike from the Reserve Bank of India (RBI) at a quarterly monetary policy review. The BSE 30-share Sensex was up 57.56 points or 0.32%, off close to 70 points from the day’s high and up close to 80 points from the day’s low. The market breadth was negative. Auto stocks saw an across the board rally with Bajaj Auto striking a record high. Banking stocks edged higher, rebounding from the days’ lows…
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MARKET REVIEW 26th July, 2010
The key benchmark indices edged lower as European stocks moved off highs and as US index futures fell. Closer home, caution prevailed ahead of the central bank’s quarterly policy review on Tuesday, 27 July 2010 and as investors awaited key first quarter results. The first quarter results of Larsen & Toubro (L&T), Reliance Industries (RIL) and Hindustan Unilever (HUL) are due on Tuesday 27 July 2010. The BSE Sensex settled a tad above the psychological 18,000 mark after falling below that mark for a brief period in late trade…
