|
No meaningful recovery was possible from yesterday's fall
as global cues were subdued today as well. US indices
were flat yesterday and Asian markets remained mixed.
Europe has slipped after a modestly positive opening and
crude oil prices are holding on to yesterday's levels.
The
indices tried to recover in opening trade, but soon gave
up and slipped into the red before noon. From then on
they traded within a range and closed with modest losses.
Sensex
closed with losses of 66 points at 10227 and the Nifty
lost 13 points to close at 2994. Nifty July futures ended
at a discount of 21 points to the spot index.
Reliance
Industries tumbled over 2.5 per cent and put considerable
pressure on the indices. Gail India was the biggest loser
among index stocks, closing more than 3.5 per cent lower.
Metal
stocks were under substantial pressure today. Hindalco
lost nearly 4 per cent and was the biggest loser in the
sector. Among steel stocks, SAIL declined 3.5 per cent
and Tata Steel lost nearly per cent. Nalco lost nearly
1.5 per cent.
Engineering
stocks also came under pressure, despite expectations
of very strong results from companies. L&T lost 3.5
per cent and BHEL ended almost 2.5 per cent lower. Siemens
and ABB lost around a per cent each.
VSNL
was the worst performer among telecom stocks, closing
nearly 4 per cent lower. MTNL lost over 1.5 per cent.
Among
banking stocks, OBC ended nearly 3.5 per cent lower. PNB
gave up close to 2 per cent. ICICI Bank and SBI declined
around a per cent each.
Zee
Tele was another major loser, closing nearly 3 per cent
lower.
TCS
gave up close to 1.5 per cent ahead of its results announcement
today evening.
Suzlon
Energy recouped nearly half of yesterday's fall on announcement
of some investment plans and order acquisitions.
The
stock ended 4.5 per cent higher and was the biggest gainer
among index stocks.
ONGC
also bounced back modestly from yesterday's crash and
added close to 1.5 per cent. Among other gainers from
the oil sector, BPCL added 2 per cent.
Select
pharma stocks were firm today. Sun Pharma added over 3
per cent and Cipla closed nearly 1.5 per cent higher.
Technology
stocks recovered from their decline over the last few
days. Satyam and Infosys added over 1.5 per cent each
while Wipro ended nearly 1.5 per cent higher.
Tata
Tea, BPCL, Bharti Airtel and Hero Honda were among the
other major gainers.
Global
markets / crude oil
US markets struggled to recover from the previous week's
losses and ended flat yesterday. Higher oil prices and
no signs of improvement in the Middle East conflict kept
the markets subdued.
The Dow closed with marginal gains of under 0.1 per cent
while the S&P 500 slipped close to 0.15 per cent.
The NASDAQ index closed with very marginal gains.
Asian
markets were mixed today following the flat closing by
US markets and firm oil prices. Thailand gained a per
cent while Malaysia and Singapore ended with gains of
over 0.5 per cent each. Indonesia gained modestly while
Shanghai closed marginally higher.
Japan
and South Korea, which were closed yesterday, declined
substantially. Japan lost 2.75 per cent while South Korea
lost close to 1.75 per cent. Hong Kong also closed with
modest losses.
European markets opened with modest gains but lost ground
as trading progressed. Major indices are trading with
losses of over 0.5 per cent each.
Crude
oil prices saw some profit booking yesterday and closed
lower. Near month NYMEX futures settled at $75.3 per barrel
yesterday. The commodity is trading with modest gains
at around $75.5 in European trades today.
Large-cap
news flow
- Suzlon
Energy would set up integrated plants for manufacturing
wind energy equipment at various locations, for meeting
export demand. The facilities would have an aggregate
capacity of 1,500 MW per annum and would be set up at
a total cost of Rs1,500 crore.
- Suzlon
has also received an overseas order for supplying wind
energy equipment with aggregate capacity of 105 MW.
Supplies would begin from 2007.
- The
board of Aditya Birla Nuvo has approved the issue
of equity shares to the shareholders of Birla Global
Finance, following the merger of the two companies.
- Unconfirmed
media reports indicate that Tata Motors would
manufacture diesel engines at a new plant under a technology
licensing agreement with Fiat of Italy. The engines
would power the next generation of cars from the company.
Incidentally, a JV between Maruti and Suzuki would also
start manufacturing diesel engines with the same technology
from Fiat by the end of this year.
- Kotak
Mahindra Bank said its board meeting scheduled for
next week would also consider internal restructuring
of some of its subsidiary companies.
Mid-Cap
Action
Mid-caps
and small caps continued their decline from yesterday.
After a gap of few sessions, they underperformed the large
caps as many stocks remained under pressure. There are
not many buyers for mid-cap stocks as the overall environment
has turned all the more uncertain.
The
CNX Mid-Cap index ended with losses of 51 points, or 1.35
per cent, to end the day at 3734. BSE mid-cap index lost
1.53 per cent and the BSE small cap index gave up 2.26
per cent.
Shah
Alloys, United Western Bank, Godavari Power and Ispat,
Deccan Chronicle, Omax Auto, Sundaram Fasteners and Prime
Securities were among the other mid-cap gainers.
Nagarjuna
Constructions, Cyber Media, Bartronics, Nelco, Repro India,
NDTV, Tata Coffee, Welspun Gujarat and Suven Lifesciences
were among the major mid-cap losers.
Mid-cap
news flow
- Hexaware
Technologies expanded its order book by $50 million
during the first quarter ended June 2006. The company
said it added 15 new clients and 600 new employees during
the quarter.
- Blue
Star Limited has entered into a tie-up with an Italian
company to offer refrigeration products for supermarkets
and food retailers. The Italian company is a leading
supplier of equipment to major companies like Coca Cola,
Carrefour, Nestle and Unilever.
- Banswara
Synthetics has started commercial production at
its weaving JV with a French company.
- Simplex
Infrastructure has won 2 new orders worth a total
of Rs110 crore for terminal construction and upgradation
at the Jaipur and Udaipur airports.
- GHCL
said it would complete the acquisition of UK based company
Rosebys by early next month.
- The
board of Alembic has approved a stock split in
the ratio of 5 shares of Rs2 each for every Rs10 share
held.
- Godrej
Industries said its subsidiary, Godrej Agrovet,
has formed
a JV with a foreign company to manufacture aquafeed
in the country. Godrej Agrovet would hold a 49 per cent
stake in the venture.
-
Adhunik Metaliks would take over a privately
held company. The company has also been allotted iron
ore mines by the Orissa government.
*Disclaimer:
The author
may have positions in some of the stocks specifically
mentioned above at the time of writing this article. This
analysis / report is only for the purpose of information
and is not an investment advice. Readers are advised to
consult a certified financial advisor before taking any
investment decisions. While efforts have been made to
ensure the accuracy of the information provided
in the content the author or publisher shall not be held
responsible for any loss caused to any person whatsoever.
Market:
Indices
National
Markets
Gain (+) / Loss (-)
|
SENSEX
|
10,226.78
|
-
66.44 |
| NIFTY
|
2,993.65
|
-13.90
|
Last
Update : 18 July, 2006 16:00:00 PM
Market
Counters
Figures in Rupees
BSE
30
| Scrip
Name |
Open |
High |
Low |
Last
Price |
| ACC
|
816.10
|
829.90
|
796.50
|
816.65
|
| Bajaj
Auto |
2,526.00
|
2,560.00
|
2,481.10
|
2,486.70 |
| Bharti
Tele |
357.25
|
365.00
|
352.00
|
359.15
|
| BHEL
|
1,870.00
|
1,870.00
|
1,788.00
|
1,806.10 |
| Cipla |
214.90
|
217.90
|
212.00
|
216.80
|
| Dr
Reddys Lab |
1,275.00
|
1,275.00
|
1,197.90
|
1,223.55
|
| Grasim
Indus |
1,935.00
|
1,960.00
|
1,900.00
|
1,948.40 |
| Guj
Ambuja |
104.20
|
106.00
|
100.55
|
102.15
|
| HDFC
Bank Ltd |
704.00
|
718.90
|
703.10
|
712.95
|
| HDFC
Ltd |
1,100.00
|
1,105.00
|
1,051.50
|
1,070.00 |
| Hero
Honda |
710.00
|
721.40
|
709.50
|
718.45
|
| Hindalco
|
168.50
|
168.90
|
159.60
|
160.55
|
| HLL
|
230.40
|
234.50
|
226.45
|
230.35
|
| ICICI
Bank |
478.25
|
479.00
|
467.10
|
473.35
|
| Infosys |
1,611.00
|
1,645.90
|
1,605.00
|
1,629.60
|
| ITC
|
172.40
|
173.80
|
167.50
|
169.65
|
| L&T
|
2,128.00
|
2,165.00
|
2,053.00
|
2,070.55 |
| Maruti |
765.25
|
765.25
|
738.00
|
751.75
|
| NTPC
|
114.00
|
115.00
|
112.05
|
112.90
|
| ONGC
|
1,044.90
|
1,053.75
|
1,025.35
|
1,043.50 |
| Ranbaxy
|
322.00
|
328.45
|
319.00
|
324.00
|
| Rel
Energy |
424.00
|
427.25
|
417.30
|
423.25
|
| Reliance
|
1,034.00
|
1,039.95
|
989.25
|
1,004.30 |
| Satyam
|
696.80
|
699.20
|
682.05
|
694.40
|
| SBI
|
707.50
|
708.00
|
691.60
|
701.55
|
| Tata
Motors |
700.00
|
707.70
|
682.00
|
688.35
|
| Reliance
Comm Ventures Ltd |
248.45
|
253.90
|
239.10
|
246.30
|
| Tata
Steel |
494.90
|
498.45
|
474.30
|
477.50
|
| TCS
|
1,870.00
|
1,909.70
|
1,825.25
|
1,841.75 |
| Wipro
|
475.00
|
489.00
|
473.00
|
485.00
|
Last
Update : 18 July, 2006 16:26 PM
S&P
CNX Nifty
| Symbol |
Open |
High |
Low |
Last
Price |
| RELIANCE
|
1033.00
|
1040.00
|
989.10
|
1004.40 |
| TCS
|
1860.00
|
1950.00
|
1815.50
|
1834.50 |
| INFOSYSTCH
|
1610.35
|
1645.00
|
1605.00
|
1629.55 |
| SUZLON
|
918.90
|
975.00
|
910.00
|
966.45 |
| SATYAMCOMP
|
690.00
|
699.00
|
681.00
|
694.80 |
| TATASTEEL
|
494.50
|
499.50
|
474.05
|
477.75 |
| TATAMOTORS
|
700.05
|
710.00
|
683.00
|
688.95 |
| ONGC
|
1035.00
|
1054.00
|
1025.00
|
1041.75 |
| ACC
|
820.00
|
829.50
|
796.05
|
816.10 |
| ITC
|
175.00
|
175.00
|
167.50
|
169.65 |
| LT |
2144.70 |
2169.00
|
2051.00
|
2070.35 |
| SBIN |
701.30 |
713.65
|
691.15
|
701.20 |
| MARUTI
|
758.00
|
765.00
|
736.00
|
749.05 |
| BHEL
|
1840.00
|
1863.80
|
1788.00
|
1808.55 |
| GUJAMBCEM
|
104.00
|
106.00
|
100.40
|
102.15 |
| HINDLEVER
|
230.00
|
234.45
|
226.10
|
230.75 |
| HDFC |
1104.00 |
1107.00
|
1050.00
|
1064.15 |
| SAIL
|
72.00
|
72.85
|
69.35
|
69.85 |
| HINDALC0
|
167.05
|
168.90
|
159.15
|
160.40 |
| SIEMENS
|
870.00
|
879.00
|
833.50
|
863.00 |
| M&M
|
563.00
|
563.00
|
539.05
|
546.10 |
| VSNL
|
368.00
|
372.00
|
351.10
|
354.05 |
| BAJAJAUTO
|
2521.90
|
2561.00
|
2476.00
|
2484.00 |
| WIPRO
|
476.00
|
488.00
|
471.00
|
485.25 |
| RANBAXY
|
318.00
|
330.00
|
318.00
|
324.20 |
| IPCL
|
260.00
|
260.00
|
248.85
|
253.95 |
| CIPLA |
213.50 |
218.45
|
212.00
|
217.15 |
| HDFCBANK
|
705.00
|
714.00
|
701.00
|
710.25 |
| GRASIM
|
1940.00
|
1985.00
|
1899.00
|
1958.65 |
| DRREDDY
|
1255.00
|
1255.00
|
1195.00
|
1223.85 |
| ABB |
2480.00 |
2515.00
|
2325.00
|
2461.20 |
| MTNL
|
142.00
|
146.00
|
138.05
|
140.00 |
| ZEETELE
|
264.00
|
268.00
|
256.00
|
259.55 |
| BHARTIARTL
|
359.00
|
364.90
|
351.00
|
360.40 |
| HCLTECH
|
558.50
|
617.00
|
529.00
|
547.40 |
| HEROHONDA
|
710.05
|
725.00
|
709.05
|
719.20 |
| SUNPHARMA
|
739.95
|
765.00
|
720.00
|
752.95 |
| ICICIBANK
|
477.00
|
478.00
|
467.45
|
472.60 |
| GAIL
|
242.50
|
243.00
|
229.10
|
230.75 |
| REL |
421.60 |
429.80
|
417.10
|
423.25 |
| NATIONALUM
|
221.40
|
221.40
|
207.00
|
210.30 |
| DABUR
|
140.35
|
149.00
|
139.10
|
145.60 |
| JETAIRWAYS
|
524.00
|
524.00
|
475.00
|
491.75 |
| TATAPOWER
|
488.00
|
492.65
|
465.00
|
487.15 |
| ORIENTBANK
|
149.00
|
150.00
|
139.00
|
143.85 |
| PNB
|
312.80
|
312.90
|
302.00
|
303.55 |
| TATATEA
|
705.00
|
735.50
|
705.00
|
725.00 |
| GLAXO |
1005.00 |
1034.90
|
991.20
|
1000.85 |
| BPCL |
303.00 |
312.00
|
302.00
|
309.95 |
| HINDPETRO
|
214.00
|
214.00
|
209.40
|
210.90 |
Last
Update : 18 July, 2006 16:0
|
|
