Daily Market Review
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MARKET REVIEW 7th Oct, 2010
Profit taking after recent strong gains pulled the key benchmark indices more than 1% lower in what was a choppy trading session. IT, metal, realty and banking stocks led the decline. The market breadth turned weak, in total contrast with a strong breadth earlier in the day. Index heavyweight Reliance Industries reversed initial gains. The BSE 30-share Sensex fell 227.76 points or 1.11%, off close to 270 points from the day’s high and up close to 40 points from the day’s low. Intraday volatility was high. The market slipped into the red after opening marginally higher. A bout of volatility was witnessed as the key benchmark indices recovered…
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MARKET REVIEW 6th Oct, 2010
The key benchmark indices — the barometer index BSE Sensex and the 50-unit Nifty, attained their highest closing levels in nearly 33-months, led by rally in metal and realty stocks. Barring the BSE FMCG index, all the sectoral indices, rose. The market breadth was strong as the broader market outperformed the key benchmark indices for the second consecutive session. The Sensex jumped 135.37 points or 0.66%, off close to 127 points from the day’s high and up close to 96 points from the day’s low…
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MARKET REVIEW 5th Oct, 2010
The key benchmark indices ended lower in choppy trade as resistance emerged after a three-day rally, but sustained foreign fund buying helped the broader market score gains. The market seesawed as traders booked profits at higher levels while investors bought shares on declines. Shares of Anil Dhirubhai Ambani group saw across the board rally today, 5 October 2010. Seven out of 13 sectoral indices on BSE ended in positive zone. FMCG and metal stocks faced major selling pressure in today’s trade. The BSE Mid-Cap and Small-Cap indices outperformed the Sensex. The BSE 30-share Sensex fell 68 points or 0.33%, off close to 152.83 points from the day’s high…
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MARKET REVIEW 4th Oct, 2010
Profit profit at higher level wiped off most of the strong initial gains as the key benchmark indices ended just a tad higher. Weakness in European stocks and US index futures, triggered profit taking. Nine out of 13 sectoral indices on BSE were in positive zone. Healthcare stocks were in demand while FMCG and IT stocks fell. The market breadth turned negative, in contrast with a strong breadth in early trade. The BSE 30-share Sensex rose 30.69 points or 0.15%, off close to 231 points from the day’s high…
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MARKET REVIEW 1st Oct, 2010
Equities started October 2010 on a buoyant note on Friday, with the two key benchmark indices — the barometer index BSE Sensex and the 50-unit S&P CNX Nifty, scaling 32-1/2-month highs. Firm global stocks underpinned sentiments. Data showing massive buying by foreign funds on Thursday, 30 September 2010 and robust monthly sales reported by auto firms, also boosted sentiment. Auto, consumer durables, capital goods, metal and realty stocks led the rally. The market breadth was strong. All the sectoral indices on BSE were in green. Tata Motors, Infosys, State Bank of India and Bajaj Auto scaled lifetime highs…
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MARKET REVIEW 30th Sept, 2010
In a complete turnaround, the key benchmark indices ended on a firm note, with metal and banking stocks staging a strong rebound in the last 40 minutes or so of trade. The BSE Sensex and the S&P CNX Nifty regained the psychological 20,000 and 6,000 levels respectively in late trade. Seven out of 13 sectoral indices on BSE rose. Banking major State Bank of India hit a record high at the fag end of the trading session. Trading was choppy throughout the session ahead of the Allahabad High Court’s verdict on the Ayodhya issue…
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MARKET REVIEW 28th Sept, 2010
The key benchmark indices registered marginal losses amidst high intraday volatility as traders rolled over positions in the derivatives segment, from the near-month September 2010 series, to October 2010 series, ahead of the expiry of the near-month September 2010 derivatives contracts on Thursday, 30 September 2010. An intraday recovery in European stocks and US index futures, aided a strong intraday rebound on the domestic bourses. The barometer index BSE Sensex closed above the psychological 20,000 level, having moved above and below that level since afternoon trade…
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MARKET REVIEW 27th Sept, 2010
The key benchmark indices eked out small gains to attain their highest closing levels in more that 32 months as firm global stocks and the recent strong foreign fund inflows underpinned sentiment. However, profit booking pulled market off their intraday highs. Index heavyweight Reliance Industries (RIL) cut intraday gains. The BSE 30-share Sensex was up 72.20 points or 0.36%, off close to 150 points from the day’s high and up close to 35 points from the day’s low. The market gained for the second straight trading session today, 27 September 2010. Realty, capital goods, metal and consumer durables stocks rose. But, FMCG stocks fell. IT stocks, too, fell on a firm rupee…
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MARKET REVIEW 24th Sept, 2010
The key benchmark indices snapped last two days losses on Friday as the recent strong foreign fund inflows kept the sentiment upbeat. The BSE Sensex closed above the psychological 20,000 mark while S&P CNX Nifty crossed 6000 mark. Investors had booked profits in last two days after the recent strong rally which saw market scale their 32 month highs. Global cues lacked clear direction today. US index futures rose. European markets dropped. Asian stocks were mixed. The BSE 30-share Sensex was up 184.17 points or 0.93%, up close to 215 points from the day’s low and off close to 25 points from the day’s high…
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MARKET REVIEW 13th Sept, 2010
It was a blowout rally on the dalal street as benchmark indices surged more than 2% in today’s trade, registering highest percentage gain after 26th May 2010. Bank stocks gained across Asia after global regulator announced new capital rules that weren’t as harsh as expected. A stronger than expected 13.9% rise in August industrial production reported by China over the weekend and our own 13.8% July IIP growth reported on Friday also boosted the sentiment. Sensex gained 409 points to close at 19208 while Nifty finished at 5760, up 120 points. European markets were trading higher by more than a percent while US stock indices futures were up about 1.5%…
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MARKET REVIEW 9th Sept, 2010
The key benchmark indices attained their highest closing levels in more than 31 months on higher European stocks and on gains in US index futures. Data showing sustained buying of Indian stocks by foreign funds and good monsoon rains, underpinned sentiments. The BSE 30-share Sensex jumped 132.95 points or 0.71%, up about 130 from the day’s low and off close to 25 points from the day’s high. Banking, realty, tea, consumer durables and capital goods stocks rose. Index heavyweight Reliance Industries (RIL) edged lower in volatile trade. The market breadth was positive…
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MARKET REVIEW 8th Sept, 2010
The key benchmark indices managed to end in positive terrain, gaining for the third day in a row, as good monsoon rains this year will raise farm output, boost rural incomes and lower food inflation. The two key benchmark indices — the barometer index BSE Sensex and the 50-unit S&P CNX Nifty attained their highest closing levels in more than 31 months. The Sensex rose 21.65 points or 0.12%, up close to 126 points from the day’s low and off close to 56 points from the day’s high…
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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…
