Sensex ends higher for 6th day in a row; JP Asso spikes 5%
07 November 2012
Indian shares gained momentum on Wednesday after the people of United States of America selected Barack Obama as their President for the next four years again. The 50-share NSE Nifty rose 35.70 points to close above 5750 level at 5,760.10, helped by short covering and build up of long positions.
The market gained for the sixth consecutive session today, breaking out above the 5730 - the range that we have been seen in last few days. Even the volumes increased to Rs 1.87 lakh crore, which was quite high compared to last few days.
Meanwhile, the 30-share BSE Sensex gained 85.03 points at 18,902.41.
Amit Dalal of Tata Investment Corporation feels the Indian markets are to a large extent performing on their own merit, performing on their own technicals. ''The buying that has taken place in the last 10 months in India (foreign institutional investors bought over Rs 96,000 crore worth of shares in 2012 so far) and the last 500 points rally on Nifty what I call is the Chidambaram effect,'' he explained.
''For the markets to ride further, we need more from the parliament and the government, but definitely the strength of the market remains for the time being,'' Dalal added.
Telecom operator Bharti Airtel fell 0.88 percent, erasing initial gains of as much as 2.6 percent. Consolidated net profit dropped 36 percent from previous quarter to Rs 482.6 crore for the three months to September, excluding a one-off gain of Rs 238.6 crore from an outstanding dispute over inter-connect charges.
Shares of private power producer Tata Power plunged 2.44 percent after the company has disappointed the street by reporting a consolidated net loss of Rs 83.8 crore in Q2FY13 as against loss of Rs 1,187 crore in a year ago period and expected profit of Rs 275 crore for the quarter.
Commercial vehicle major Tata Motors gained 0.9 percent ahead of second quarter earnings. Consolidated net profit is expected to rise 17 percent year-on-year to Rs 2,200 crore, according to a CNBC-TV18 poll.
Today's gains were largely led by banking & financials and technology stocks. Housing finance company HDFC and top lender State Bank of India surged 2 percent each while its rival ICICI Bank was up 1 percent.
Software services exporters TCS and Infosys climbed 0.6 percent each. Power equipment maker BHEL went up 1.7 percent.
Index heavyweight Reliance Industries declined 0.6 percent, limiting the upside of the market.
ONGC, Reliance Communications, Sun Pharma, SAIL, Ranbaxy Labs and Ashok Leyland will declare their numbers on Thursday for July-September quarter of 2012.
Diversified conglomerate Jaiprakash Associates topped the buying list among Nifty 50, rising 5.5 percent.
In the second line shares, UCO Bank gained 1 percent and Jubilant Foodworks was up 2.7 percent after second quarter earnings.
Cadila Healthcare lost 3 percent as its net profit fell much lower than expected 7 percent YoY to Rs 95 crore in Q2.
Puravankara rallied nearly 14 percent after the net profit jumped 89 percent YoY to 50.2 crore in Q2.
Advancing shares outnumbered declining by a ratio of 894 to 554 on the National Stock Exchange.
On the global front, France's CAC, Germany's DAX and Britain's FTSE were trading 0.6-1 percent higher (at 15:40 hours IST) after Barack Obama won re-election and positive earnings in September quarter.
The Dow Jones futures gained 20 points after initial fall of 75 points on election results.
The BSE Sensex trimmed gains due to profit booking and the further weakness in Reliance Industries that lost 0.4 percent. France's CAC, Germany's DAX and Britain's FTSE too cut down gains to 0.2-0.4 percent.
The 30-share BSE benchmark rose 90 points to 18,906.31 and the 50-share NSE benchmark went up 36 points to 5,760.60.
Country's largest lender State Bank of India and housing finance company HDFC were up 2 percent each.
Shares of ICICI Bank, Infosys, Tata Motors and Tata Steel moved up 0.8 percent each. Software services exporter TCS gained 0.4 percent.
State-owned power equipment maker BHEL rallied 1.4 percent.
Telecom operator Bharti Airtel and private power producer Tata Power fell 0.9 percent and 1.8 percent, respectively after disappointing numbers in second quarter of FY13.
Jaiprakash Associates surged 5.5 percent while public sector lenders Bank of Baroda and Punjab National Bank were up 3.5 percent and 2.6 percent, respectively.
In the second line shares, Puravankara Projects surged 13 percent following the company nearly doubled its net profit to Rs 50.2 crore in Q2.
Advancing shares outnumbered declining by a ratio of 1589 to 1172 on the Bombay Stock Exchange.
Shares of Apollo Hospital, DB Realty, Unitech and Pidilite Industries gained 5.5-7.5 percent.
Madhucon Projects shot up 20 percent and Man Industries was up 12 percent. Amar Remedies and Kirloskar Brothers were up 9 percent each.
Indian equity shares remained in bull grip on outcome of US elections. France's CAC, Germany's DAX and Britain's FTSE gained 0.3-0.6 percent in early trade after the US people selected Barack Obama as a US President for the next four years.
The 30-share BSE Sensex rose 130 points to 18,947.45 and the 50-share NSE Nifty gained 48 points at 5,772.25.
Housing finance company HDFC, commercial vehicle maker Tata Motors, state-owned power equipment maker BHEL and country's largest lender State Bank of India topped the buying list, rising 2 percent each.
Software services exporters TCS, Infosys and Wipro gained 0.6-1 percent. Private sector lender ICICI Bank rose 1 percent.
Among auto stocks, Mahindra & Mahindra, Maruti Suzuki, Bajaj Auto and Hero Motocorp were up 1 percent each.
Metals stocks too were in bull grip; Tata Steel, Hindalco, Sterlite and Jindal Steel climbed 1.3-1.8 percent.
Drug producer Cipla has hit an all-time high of Rs 400.60, rising for the second consecutive day after strong results.
Telecom operator Bharti Airtel and private power producer Tata Power dropped over 1 percent following poor numbers in Q2.
Shares of Reliance Industries, ONGC, Hindustan Unilever and Coal India were down 0.2-0.5 percent.
Indian shares extended gains in afternoon trade with the BSE Sensex rising over 100 points, helped by banking & financials, auto, metals and capital goods stocks. Barack Obama re-elected as a US President for the second term boosted sentiment.
The 30-share BSE benchmark rallied 136.24 points to 18,953.62 and the 50-share NSE benchmark rose 46 points to 5,770.25.
Country's largest commercial vehicle maker Tata Motors jumped over 2 percent ahead of second quarter earnings. Consolidated net profit is expected to rise 17 percent year-on-year to Rs 2,200 crore, according to a CNBC-TV18 poll.
Housing finance company HDFC surged 2 percent. Top lender State Bank of India spiked 2.6 percent while its rivals ICICI Bank and HDFC Bank were up 1.4 percent and 0.8 percent, respectively.
India's major software services exporters TCS, Infosys and Wipro gained 0.7-1 percent.
Among metals stocks, Tata Steel, Sterlite Industries, Hindalco and Jindal Steel moved up 1-2 percent.
Shares of BHEL, Maruti, Bajaj Auto, GAIL, NTPC and Dr Reddy's Labs were up 1-1.7 percent.
Telecom operator Bharti Airtel dropped nearly 1 percent due to lower than expected net profit in the second quarter of FY13 .
FMCG majors ITC and Hindustan Unilever fell 0.3-0.5 percent. Private power producer Tata Power extended losses to 1.5 percent post disappointing numbers in Q2.
The BSE Midcap Index was up 1 percent and Smallcap gained 0.8 percent.
The Dow Jones futures, which lost 70 points post US elections outcome, recouped entire losses to trade flat.
The BSE benchmark gained 100 points after the Barack Obama re-elected as a US President for the next four years. Asian (ex-Japan) markets too gained ground following the US Elections outcome.
The 30-share BSE Sensex moved up 98 points to 18,914.95 and the 50-share NSE Nifty rose 31 points to 5,755.10, helped largely by banking and financials stocks.
Country's largest lender State Bank of India surged over 2 percent while its rival ICICI Bank went up 1.34 percent. Housing finance company HDFC was up 1.4 percent and private sector lender HDFC Bank gained 0.3 percent.
Commercial vehicle major Tata Motors and steel producer Tata Steel were up over 1 percent. Software services exporters TCS, Infosys and Wipro moved up 0.4-0.7 percent.
Engineering conglomerate Larsen & Toubro was up 0.8 percent and power equipment maker BHEL rallied 1.3 percent.
Drug producer Dr Reddy's Labs, aluminium major Hindalco Industries and top car maker Maruti gained over 1 percent.
Two-wheeler maker Bajaj Auto and utility vehicle major Mahindra & Mahindra climbed 0.8 percent each.
FMCG majors ITC and Hindustan Unilever fell 0.4 percent and 1 percent, respectively.
Telecom operator Bharti Airtel erased losses, losing over 1 percent post second quarter numbers.
About two shares advanced for every share declining on the National Stock Exchange.
Indian equity benchmarks gained strength following a win of Barack Obama as 44th President of the United States of America, but the US markets seem disappointed with these results as the Dow Jones futures lost 55 points.
The 30-share BSE Sensex gained 57.30 points at 18,874.68 and the 50-share NSE Nifty rose 17 points to 5,741.15. Even the Indian rupee was up by 31 paise to 54.12 against the US dollar.
Country's largest lenders State Bank of India and ICICI Bank topped the buying list, rising 1.35 percent each while housing finance company HDFC went up 0.75 percent.
Commercial vehicle maker Tata Motors extended gains to 1 percent ahead of second quarter numbers.
Technology majors saw buying interest following US elections outcome. Infosys, TCS and Wipro were up 0.4-0.8 percent.
Among metals stocks, Tata Steel, Hindalco Industries, Sterlite Industries and Jindal Steel climbed 1 percent each.
Index heavyweight Reliance Industries and private sector lender HDFC Bank slipped 0.2 percent, limiting the upside of market. FMCG major Hindustan Unilever fell 0.7 percent.
Private power producer Tata Power remained under pressure, losing over 1 percent following weak second quarter numbers.
In the second line shares, DB Realty, Apollo Hospital, Berger Paints,
Anant Raj Industries and J&K Bank rallied 3-6 percent while Chennai Petroleum, Tata Communications, Allcargo, Blue Circle and Era Infra Eng lost 1-3 percent.
Advancing shares outnumbered declining by a ratio of 1331 to 647 on the Bombay Stock Exchange.
The BSE Sensex opened lacklustre for the third consecutive session on Wednesday as investors awaited outcome of US Presidential elections.
The 30-share BSE benchmark lost 21.5 points to 18,795.89 and the 50-share NSE benchmark was down 8 points to 5,716.45.
Shares of telecom operator Bharti Airtel gained 0.77 percent following second quarter numbers. Results were above expectations on every count. It disappointed the street by reporting lower than expected net profit numbers but revenues and EBITDA margin came in higher than expectations.
Tata Motors rose 0.24 percent ahead of second quarter earnings today.
Shares of ICICI Bank, TCS, Infosys, Sun Pharma, Wipro, Bajaj Auto and Tata Steel were marginally higher.
However, Reliance Industries, Larsen & Toubro, ITC, HDFC Bank, HDFC, HUL and State Bank of India fell 0.3-0.5 percent.
Tata Power lost over 1 percent as it reported a consolidated net loss of Rs 83.8 crore in the second quarter of current financial year as against loss of Rs 1,187 crore in a year ago period and expectations of profit of Rs 275 crore.
In the second line shares, Tata Communications lost 2 percent as the company's consolidated net loss nearly doubled year-on-year to Rs 274 crore from loss of Rs 143 crore in the second quarter of FY13.
Indian Hotels fell 1 percent while Reliance Capital and Oil India gained 3 percent each post results.
Mastek was up another 5 percent on buyback news. Amara Raja Batteries went up up another 1 percent following strong Q2 numbers.
Kingfisher Airlines fell 3.5 percent as State Bank of India chairman said Kingfisher would not fly if it failed to bring in fresh capital by November 30.