Daily Market Review
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MARKET REVIEW 15th July, 2010
The key benchmark indices ended a tad lower amid volatility in European stocks and US index futures. Stock-specific buying was witnessed based on expectations of first quarter results of individual companies. The market breadth was negative in contrast to a strong breadth witnessed earlier in the day. The BSE 30-share Sensex fell 28.70 points or 0.16%, up close to 50 points from the day’s low and off close to 70 points from the day’s high. FMCG and IT stocks rose. Shares of a number of PSU banks also edged. But, capital goods and realty stocks fell. Auto stocks were mixed. Index heavyweight Reliance Industries (RIL) moved higher in volatile trade…
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MARKET REVIEW 13th July, 2010
Revival of monsoon rains and stepping up of buying by foreign funds helped the key benchmark indices attain their highest closing level in 29-months. Rally in European stocks and US index futures supported the domestic bourses as the market extended gains for the fourth day. The stock market regulator Securities & Exchange Board of India (Sebi)’s recent decision to cut exposure margins on stock derivatives, also supported sentiment. Realty shares jumped in late trade on speculation the government will soon announce a hike in foreign direct investment (FDI) in the real-estate sector. Index heavyweight Reliance Industries (RIL) surged…
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MARKET REVIEW 12th July, 2010
The key indices extended gains for the third straight day, with stepping up of buying by foreign funds lifting spirits. Expectations of strong Q1 June 2010 results, also aided the rally. The 50-unit S&P CNX Nifty attained its highest closing level in more than 29 months. The Sensex attained its highest closing level in more than 3 months. Seven out of 13 sectoral indices on BSE were in green, five were in the red and one was unchanged. The latest data showed the industrial production in May 2010 rose at a much slower-than-expected pace…
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MARKET REVIEW 9th July, 2010
The key benchmark indices surged for the second straight day as expectations of strong Q1 June 2010 results, a recent upward revision in India’s GDP growth forecast by the International Monetary Fund and the stock market regulator Securities & Exchange Board of India (Sebi)’s recent decision to cut exposure margins on stock derivatives, boosted sentiments. Except the BSE FMCG index, all the other sectoral indices on BSE were in green. The BSE 30-share Sensex jumped 181.81 points or 1.03%, off close to 25 points from the day’s high. Metal, banking…
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MARKET REVIEW 8th July, 2010
The key benchmark indices surged as a hike in 2010 global growth forecast from the International Monetary Fund, firm global stocks and stock market regulator Securities & Exchange Board of India (Sebi)’s decision to reduce exposure margins for stock derivatives, boosted investor sentiments. Expectations of strong Q1 June 2010 corporate earnings also contributed to the rally. The indices, however, were off intraday highs on profit booking. The BSE 30-share Sensex rose 180.70 points or 1.03%, off close to 76.64 points…
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MARKET REVIEW 7th July, 2010
The key benchmark indices registered their fourth decline in five trading sessions on Wednesday, 7 July 2010, as weak global stocks weighed on investor sentiment. Index heavyweights Reliance Industries (RIL) slumped. Banking, auto, realty and metal stocks fell. The BSE 30-share Sensex fell 143.46 points or 0.81%, off close to 170 points from the day’s high and up close to 25 points from the day’s low. The market breadth turned negative compared to positive breadth earlier in the day….
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MARKET REVIEW 6th July, 2010
The key benchmark indices surged, snapping last three days’ losses as world stocks rose. The BSE 30-share Sensex jumped 173.04 points or 0.99%, up close to 310 points from the day’s low and off close to 25 points from the day’s high. Revival of monsoon rains in the past few days after weak rains last month, also underpinned sentiment. Metal, IT, banking and realty stocks surged. All the sectoral indices on BSE were in green. The Sensex had lost 259.46 points or 1.46% in the preceding three trading sessions to settle at 17441.44 on Monday, 5 July 2010, from a recent high of 17,700.90 on 30 June 2010….
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MARKET REVIEW 5th July, 2010
The key benchmark indices edged marginally lower in lacklustre trade, with volumes hit by a nationwide strike called by opposition parties to protest against the government’s decision to raise fuel prices. Banking stocks shrugged off an unexpected hike in key policy rates by the Reserve Bank of India, which was announced after trading hours on Friday, 2 July 2010. But, PSU OMCs, realty, metal stocks fell. Index heavyweight Reliance Industries (RIL) was flat. Reliance Natural Resources (RNRL) slumped following an unfavorable swap ratio for its merger with group company Reliance Power (RPower). RPower jumped….
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MARKET REVIEW 2nd July, 2010
The key benchmark indices fell for the second straight day as investors resorted to profit taking ahead of the weekend. Asian and European stocks rose ahead of key US employment data due out later in the global day. The market breadth was even. Earlier in the day the breadth was strong. Banking, realty and metal stocks fell. Auto stocks were mixed. Index heavyweight Reliance Industries (RIL) edged lower in volatile trade. Another index heavyweight Infosys also fell. The BSE 30-share Sensex lost 48.38 points or 0.28%, off close to 140 points from the day’s high and up close to 35 points from the day’s low…
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MARKET REVIEW 1st July, 2010
Equities started the second quarter of the financial year with losses on Thursday, 1 July 2010, as data showed easing manufacturing activity in Asia weighed on investor sentiment. The BSE 30-share Sensex was provisionally down 197.57 points or 1.12%, up close to 50 points from the day’s low. Data showing lower food price inflation and reports of revival of monsoon rains in soybean-growing areas of central region, capped decline on the domestic bourses. The market breadth was negative. Metal, IT, banking, auto and realty stocks fell…
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MARKET REVIEW 30th June, 2010
The key benchmark indices jumped amid high volatility as European banks sought a smaller amount of central bank loans at a three-month tender auction on Wednesday than markets had anticipated. The news helped ease liquidity-related fears about the health of euro zone financial sector. Index heavyweight Reliance Industries (RIL) gained. Media shares jumped after the Telecom Regulatory Authority of India (Trai) recommended increasing foreign investment (FDI) limit to 74% in broadcast carriage services viz. DTH, IPTV, Mobile TV, HITS (Headend in the Sky), Teleport and multi-system operators (MSOs).
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MARKET REVIEW 29th June, 2010
The key benchmark indices registered their third decline in four days on Tuesday, 29 June 2010, as Asian and European stocks and US index futures slumped. Metal stocks tumbled after the Conference Board corrected down its April 2010 gauge for the outlook of China’s economy. Banking, auto, IT and realty stocks also fell. Index heavyweight Reliance Industries (RIL) edged lower. The market breadth was weak in contrast to a strong breadth earlier in the day. All the sectoral indices on BSE were in the red…
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MARKET REVIEW 28th June, 2010
The key benchmark indices snapped last two days’ losses on firm global stocks. The market breadth was strong. Oil & gas stocks extended Friday’s (25 June 2010) sharp gains after the government freed petrol pricing and raised prices of other fuels. Metal, auto, sugar and realty stocks also gained. Except the BSE FMCG index, all the other sectoral indices on BSE were in green. Index heavyweight Reliance Industries (RIL) extended initial gains after the company announced during market hours today that it made seventh oil discovery in a block in Cambay basin…
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MARKET REVIEW 25th June, 2010
The key benchmark indices slumped to intraday lows in late trade as European stocks and US index futures declined. Oil & gas stocks surged after the government freed petrol prices. The government will also eventually decontrol diesel prices, Oil Secretary S. Sundareshan said. But, some auto shares fell on worries the latest fuel price hike may crimp sales. Bank shares, too, declined on worries the fuel price hike will stoke inflation. Index heavyweight Reliance Industries (RIL) rose after the company signed a new gas supply master agreement with Reliance Natural Resources….
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MARKET REVIEW 24th June, 2010
The key benchmark indices registered marginal losses amid high volatility as traders rolled over positions in the derivatives segment from the near-month June 2010 contracts to July 2010 contracts. The near-month June 2010 derivatives contracts expired today, 24 June 2010. Weakness in global stocks caused by US Federal Reserve’s more downbeat language on economic growth in the world’s biggest economy weighed on investor sentiment. Banking and IT stocks fell. Index heavyweight Reliance Industries (RIL) was weak. The BSE 30-share Sensex was down 25.70 points or 0.14%, off close to 115 points from the day’s high and up close to 100 points from the day’s low.
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MARKET REVIEW 23rd June, 2010
Indian markets bounced back on Wednesday snapping earlier losses. The Sensex ended on a flat note with positive bias. On sectoral front, realty and healthcare stocks gained ground, while capital goods and metal edged lower. It opened on a bleak note tracking negative Asian peers and slipped further on weak global cues. However in the mid noon, the index pared all its losses and made a smart recovery. The index failed to sustain in green zone and again fell into the red amid volatility…
