|
Strong gains across major global markets helped the indices
to rally further. Frontline indices opened with strong
gains and held on to them till late afternoon. The last
hour saw further gains and the indices gained nearly 1.5
per cent each.
The
Sensex closed with gains of 165 points at 12274 and the
Nifty gained 50 points to close at 3553. Nifty September
futures closed at a premium of 4 points to the spot index.
OBC,
which saw a sharp surge in late trades yesterday, sustained
the up trend and closed with substantial gains. The stock
added nearly 7 per cent and was the best performer among
index stocks.
SBI
and PNB added over a per cent each. HDFC resumed its up
trend and rallied nearly 2.5 per cent. ICICI Bank gained
nearly 2 per cent while HDFC Bank added nearly a per cent.
HLL
also sustained its up trend and surged more than 3.5 per
cent. ITC and Dabur added close to 2 per cent each.
ONGC
also continued to rally ahead and added more than 2 per
cent. Reliance Industries gained close to a per cent.
Engineering
stocks were very firm today, led by Suzlon which gained
nearly 3.5 per cent. BHEL added more than 2.5 per cent
while Siemens rallied more than 2 per cent.
Bajaj
Auto saw a major up move and ended with gains of close
to 3.5 per cent. Maruti added close to 2 per cent.
Cement
stocks made a come back and ACC gained over 2 per cent.
Gujarat Ambuja Cements also gained nearly 2 per cent while
Grasim added over a per cent.
TCS
was the best performer among technology stocks, gaining
more than 2 per cent. Satyam added close to 2 per cent
and Wipro gained more than a pe cent.
There
were only five losers among Nifty stocks. Jet Airways
remained under pressure despite the continued fall in
crude oil prices and lost more than 1.5 per cent.
Hero
Honda came under pressure and lost more than 0.5 per cent.
Reliance
Communications saw some profit booking and lost nearly
0.5 per cent.
L&T
and Zee Tele were the other losers.
Global
markets / crude oil
US markets rallied yesterday as the Fed decided to keep
interest rates steady. Markets are getting more confident
about the Fed's view that the US economy is heading for
a soft landing and inflation is easing. Further decline
in crude oil prices and good corporate numbers also lifted
sentiment.
The
Dow index gained more than 0.6 per cent while the S&P
added over 0.5 per cent to close very near to its 5-year
highs. Technology stocks recovered smartly and the NASDAQ
ended with gains of over 1.35 per cent.
Most
Asian markets rallied today on positive US markets and
hopes of steady US consumer demand. Indonesia was the
best performer, gaining nearly1.9 per cent. Japan rallied
nearly 0.75 per cent while Hong Kong and Malaysia added
more than 0.6 per cent each. Shanghai added 0.5 per cent
while South Korea and Singapore closed with modest gains.
Thailand
reopened after remaining closed yesterday and ended with
losses of 1.4 per cent.
European
markets opened with modest losses but have recovered and
gained strength in early afternoon trades. Major indices
are trading with gains of between 0.2 and 0.4 per cent
each.
Crude
oil prices continued to decline yesterday as traders are
hesitant to buy even at these lower levels. The US government
has indicated a more conciliatory stance towards Iran
over the nuclear issue. Near month NYMEX futures lost
nearly 1.5 per cent and closed at $60.74 per barrel yesterday.
The commodity has gained nearly 0.5 per cent and is trading
above $61 per barrel in European trades today.
Large-cap
news flow
- An
equal JV between ONGC and Chinese oil company
Sinopec has acquired the Colombian subsidiary of US-based
Omimex Resources for $850 million. (See: ) The acquired
company has production and exploration areas in Colombia
with estimated reserves of 300 million barrels. It currently
produces around 20,000 barrels of crude oil per day
and also owns a 189 km long oil pipeline.
- Ranbaxy
has received US FDA approval for manufacturing and marketing
a generic drug used for heart, liver and renal problems
as well as hypertension. The company said the US market
for the drug is around $70 million.
- Siemens
has denied media reports that the company is considering
a bonus issue.
- JSW
Steel
has allotted 1.5 crore convertible warrants to promoters.
The warrants are convertible at a price of Rs272 per
share. On conversion, promoters' stake in the company
would increase to 50 per cent.
- Aditya
Birla Nuvo said its BPO subsidiary Transworks has
issued shares to an investment company and the company's
stake in Transworks has declined to 88.28 per cent.
- Tata
Motors said there was a fire in the paint shop at
its Pune car plant and operations at the paint shop
may be affected for a week.
- L&T
has started work on a new switchboard factory at Ahmednagar,
which is expected to be completed by the middle of next
financial year.
Mid-Cap
Action
Mid-caps
and small caps started on a firm note and the indices
rallied more than a per cent each by mid-morning. But
they saw some profit booking in afternoon trade and gave
up part of their gains.
The CNX Mid-Cap index ended with gains of 27 points, or
0.6 per cent, to finish the day at 4531. BSE mid-cap index
gained 0.65 per cent and the BSE small cap index ended
with gains of 0.61 per cent.
Prime
Securities, Repro India, JBF India, Mirza International,
Videocon Appliances, Vaibhav Gems, Dewan Housing, Softpro
Solutions, Super Spinning and TCI were among the other
major mid-cap gainers.
Gabriel
India, Andhra Sugar, Prime Focus, Jaybharat Maruti, Khaitan
Limited, Alps Industries, South East Asia Marine, Birla
VXL and Everest Kanto were among the major mid-cap losers.
Mid-cap
news flow
- Strides
Arcolab has denied media reports that the company
is in discussions with companies like Sandoz and Orchid
Chemicals for a stake sale or merger.
- Patni
Computers has entered into a strategic agreement
with a leading provider of interactive educational software.
- Orchid
Chemicals
has received UK regulatory approval for its manufacturing
unit near Chennai.
- IPCA
Labs has
entered into a strategic alliance with the US subsidiary
of Ranbaxy, under which IPCA would develop and manufacture
drugs whoch would be marketed by Ranbaxy US. Regulatory
approvals would be handled by Ranbaxy.
- Micro
Inks has de-listed its GDR from the Luxembourg exchange
as they have been converted into equity shares.
- The
board of Kirloskar Ferrous would meet next week
to consider a rights issue of equity shares with detachable
warrants.
- Kirloskar
Brothers has received new orders worth Rs175 crore
from the Kerala Water Authority for supply of water
treatments plants, main pumps and related works.
- TCI
will
allot 30 lakh equity shares to the shareholder of TCI
Seaways, which is being merged into the company. The
company would also go in for a stock split in the ratio
of 5 shares of Rs2 each for every Rs10 share and would
sell the assets of its fuel pump division.
- NEPC
India said the issued with Southern Wind Farms have
been resolved. The company had earlier announced that
it would sell its wind energy turbine manufacturing
business to Southern Wind Farms, which is majority controlled
by Reliance Capital.
- Supreme
Yarn
would raise Rs18 crore from a preferential equity issue
to promoters. The company has also announced a stock
split in the ratio of 10 shares of Re1 each for every
Rs10 share held.
- Promoters
of Dynamatics Technologies would buy out the
stake held by a Korean auto parts company in a JV with
the company. Dynmatics held a 73 per cent stake in the
JV, which is a parts supplier to Hyundai India.
- Paramount
Communications would raise up to $50 million from
an overseas issue.
- Cupid
Limited would double its condom manufacturing capacity
at an investment of Rs6 crore.
- Satnam
Overseas has raised $20 million by issuing convertible
bonds. The bonds are convertible after 4 years at a
price of Rs85 per share.
- Compact
Disc India
has cancelled the merger of 2 entities with the company,
which was announced earlier.
- Kirloskar
Pneumatic has sold its surplus land in Faridabad for
Rs19.25
crore.
- R
Systems
is planning to acquire a 5 acre industrial plot in Noida,
near Delhi.
- India
Infoline
is expanding its business in Kuwait to target the NRI
population in the region.
*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
|
12,274.27
|
+165.13
|
| NIFTY
|
3,553.05
|
+50.25
|
Last
Update : 21 September, 2006 16:00:00 PM
Market
Counters
Figures in Rupees
BSE
30
| Scrip
Name |
Open |
High |
Low |
Last
Price |
| ACC
|
955.00
|
972.00
|
949.00
|
968.60
|
| Bajaj
Auto |
2,824.00
|
2,904.85
|
2,809.00
|
2,895.55
|
| Bharti
Tele |
|
|
|
465.55 |
| BHEL
|
2,280.00
|
2,321.00
|
2,270.00
|
2,313.55 |
| Cipla |
260.00
|
262.00
|
257.00
|
259.95
|
| Dr
Reddys Lab |
|
|
|
756.50 |
| Grasim
Indus |
2,490.00
|
2,498.80 |
2,436.00
|
2,470.15 |
| Guj
Ambuja |
114.50
|
116.20
|
113.85
|
115.95
|
| HDFC
Bank Ltd |
879.00
|
884.10
|
872.05
|
883.30
|
| HDFC
Ltd |
1,371.00
|
1,415.00
|
1,371.00
|
1,407.40
|
| Hero
Honda |
783.00
|
783.00
|
761.25
|
766.70
|
| Hindalco
|
169.00
|
171.00
|
168.30
|
170.30
|
| HLL
|
252.00
|
259.30
|
252.00
|
258.60 |
| ICICI
Bank |
657.00
|
665.50
|
654.00
|
664.05
|
| Infosys |
|
|
|
1,834.80 |
| ITC
|
187.50
|
191.05
|
187.50
|
190.65 |
| L&T
|
2,710.00
|
2,728.00
|
2,667.20
|
2,685.45
|
| Maruti |
935.00
|
948.20
|
932.05
|
944.55
|
| NTPC
|
|
|
|
129.80 |
| ONGC
|
1,179.90
|
1,199.00 |
1,179.90
|
1,196.85
|
| Ranbaxy
|
417.00
|
418.00
|
412.50
|
416.75
|
| Rel
Energy |
464.00
|
472.90
|
463.25
|
468.00
|
| Reliance
|
|
|
|
1,138.25 |
| Satyam
|
850.00
|
864.00
|
845.75
|
859.65
|
| SBI
|
|
|
|
983.35 |
| Tata
Motors |
|
|
|
848.20 |
| Reliance
Comm Ventures Ltd |
350.00
|
351.95
|
341.50
|
343.55
|
| Tata
Steel |
500.00
|
505.45
|
499.10
|
502.75
|
| TCS
|
1,030.00
|
1,058.00
|
1,030.00
|
1,052.60 |
| Wipro
|
520.00
|
525.00
|
515.00
|
523.10
|
Last
Update : 21 September, 2006 16:26 PM
S&P
CNX Nifty
| Scrip
Name |
Open |
High |
Low |
Last
Price |
| RELIANCE |
1133.15 |
1143.7 |
1130.25 |
1138.9 |
| LT |
2710 |
2729 |
2669.35 |
2686.95 |
| RCOM |
345.2 |
352 |
341.2 |
343.95 |
| INFOSYSTCH |
1840 |
1850 |
1827.65 |
1838.1 |
| SATYAMCOMP |
850 |
862 |
846.2 |
859.3 |
| BHEL |
2279.85 |
2319 |
2267 |
2312.95 |
| TCS |
1032 |
1057.9 |
1018 |
1053 |
| ONGC |
1188.9 |
1199.9 |
1181 |
1198.05 |
| ZEETELE |
313.85 |
316.2 |
306.8 |
308.15 |
| BAJAJAUTO |
2805 |
2905 |
2805 |
2894.85 |
| TATASTEEL |
503 |
505.75 |
500 |
502.95 |
| TATAMOTORS |
869.8 |
869.8 |
838.2 |
847.45 |
| MARUTI |
925.35 |
949.2 |
925.35 |
945.25 |
| SUZLON |
1210 |
1235.9 |
1201.05 |
1230.7 |
| HINDLEVER |
251.5 |
259.5 |
251.5 |
259.1 |
| ITC |
188.5 |
191 |
188 |
190.65 |
| HINDPETRO |
292 |
300.3 |
292 |
294.25 |
| IPCL |
309.5 |
315.9 |
307.75 |
311.5 |
| ACC |
955 |
973 |
950 |
969.75 |
| WIPRO |
515 |
525 |
515 |
523.6 |
| ICICIBANK |
665 |
669.75 |
653.65 |
663.4 |
| BPCL |
378.1 |
380.45 |
372.5 |
374.3 |
| BHARTIARTL |
472.45 |
472.45 |
460 |
465.55 |
| GRASIM |
2455 |
2480 |
2431.1 |
2471 |
| HEROHONDA |
789 |
789 |
761.2 |
768.3 |
| SBIN |
975.5 |
989.9 |
975.5 |
984.7 |
| GUJAMBCEM |
114.1 |
116.2 |
113.85 |
115.95 |
| HDFC |
1390 |
1416 |
1372.15 |
1405.85 |
| HINDALC0 |
169.5 |
171 |
168.4 |
170.45 |
| JETAIRWAYS |
659.7 |
669 |
636 |
641.85 |
| SAIL |
74.1 |
74.95 |
73.75 |
74.55 |
| RANBAXY |
415 |
422.5 |
412 |
416.6 |
| CIPLA |
262 |
262 |
257 |
260.05 |
| DRREDDY |
758.05 |
764.2 |
755.2 |
757.45 |
| VSNL |
412 |
419.9 |
407.1 |
408.45 |
| GAIL |
254.5 |
259.9 |
254.25 |
257.65 |
| REL |
467.8 |
472.7 |
463 |
468 |
| SUNPHARMA |
930 |
931.95 |
901 |
923.15 |
| ORIENTBANK |
232 |
248 |
232 |
246.75 |
| MTNL |
158 |
160 |
157.4 |
159.6 |
| HDFCBANK |
883.95 |
884.7 |
873 |
883.45 |
| M&M |
646.85 |
654.7 |
645 |
648.6 |
| PNB |
492 |
497.95 |
491 |
494.55 |
| SIEMENS |
1059 |
1077.95 |
1051 |
1069.1 |
| NATIONALUM |
204 |
206.9 |
202.3 |
206.15 |
| HCLTECH |
560 |
567 |
556.2 |
559.55 |
| DABUR |
138.5 |
139.9 |
137.6 |
139.6 |
| GLAXO |
1251 |
1269 |
1246 |
1261 |
| ABB |
2880 |
2908.95 |
2865 |
2902.6 |
| TATAPOWER |
521 |
527.8 |
521 |
524.25 |
Last
Update : 21 September, 2006 16:09PM
|
|
