labels: stock markets - india, markets - general
Gain (+) / Loss (-) news
Rex Mathew
06 December 2006

Helped by positive global cues and strength in technology stocks, the indices opened firm. Sensex set a new lifetime high of 14035 while Nifty saw a new high of 4036 in early trades.

However, they declined by early afternoon and slipped deep into the red. Gains in ONGC and select telecom stocks pushed the indices back into the green towards closing.

Sensex closed with gains of 11 points at 13949 and the Nifty ended flat at 4016. Nifty December futures closed at a discount of 10 points to the spot index. Nifty futures is closing at a discount after many sessions.

ONGC held firm and supported the recovery in late trades to end 0.96 per cent higher. Gail India closed 0.64 per cent higher while Reliance Industries recovered from a mid-afternoon decline and closed with marginal gains.

Ranbaxy was the best performer among index stocks, gaining 1.5 per cent.

Among telecom stocks, Bharti added 1.26 per cent and Reliance Communications gained 1.02 per cent.

Hindalco extended its gains from yesterday and closed 1.4 per cent higher.

BHEL resisted the weakness in other engineering stocks and added 1.4 per cent.

Tata Power recovered after losing nearly 3 per cent yesterday and closed 1.18 percent higher.

HCL Tech was the best performer among tech stocks, gaining 0.8 per cent. Infosys, TCS and Satyam gained around 0.5 per cent each.

ICICI Bank opened firm but gave up part of the gains to close 0.57 per cent higher.

Engineering and capital goods stocks came under pressure today and lost ground. Suzlon was the worst performer, ending 4.24 per cent lower. ABB lost 2.14 per cent.

PNB was the worst performer among banks, closing 2.71 per cent lower.

Jet Airways corrected after yesterday's rally and closed 2.19 per cent lower.

HPCL saw a decline in afternoon trades to close 2.22 per cent lower.

Reliance Energy gave up 1.96 per cent after gaining for the last 2 sessions.

Zee Tele, ACC and VSNL were the other major losers.

Global markets / crude oil
US markets sustained their up trend yesterday on hopes that the US economic growth would not be as bad as feared. Data released yesterday showed sustained growth in the services sector which may help offset the weakness in manufacturing to some extent.

The Dow index closed nearly 0.4 per cent higher and the S&P 500 added 0.4 per cent. Technology stocks turned in a modest performance after Monday's robust rally and the NASDAQ gained over 0.15 per cent.

Asian markets were mostly positive for the second day following sustained rally in the US indices. Malaysia was the best performer, gaining nearly 0.85 per cent, while Japan recovered from a losing trend for the first 2 days of the week and closed 0.65 per cent higher. Thailand gained 0.5 per cent while Hong Kong and Indonesia closed with gains of nearly 0.45 per cent each.

Among the losers, Shanghai lost 0.75 per cent after the previous 2 days' rally while South Korea closed with losses of nearly 0.5 per cent. Singapore ended 0.25 per cent lower.

European markets opened substantially higher for the second day before losing a substantial part of the gains. Major indices are mixed in early afternoon trades.

Crude oil prices gained in Asian and European trades yesterday but ended almost unchanged on speculation that OPEC may wait before announcing another production cut. NYMEX futures closed almost unchanged at $62.43 per barrel yesterday. The commodity has declined marginally in European trades today.

Large-cap news flow

  • Tata Power said its Strategic Electronics Division has won 7 new defence production licenses from the government. The company said these licenses open up a potential market of Rs20,000 crore over the next several years.
  • Satyam has set up a dedicated 40-seat offshore SAP development centre in Bangalore for Sony Europe.
  • Reliance Industries is in negotiations to acquire smaller retail companies to expand its retail operations, according to some media reports. Apart from Adani Retail, the company is also rumoured to be in negotiations to acquire south-based Subhiksha and Tata-controlled Landmark.

Mid-Cap Action
Mid-caps and small caps also started the day with gains but soon slipped. By mid-afternoon, losses in mid-cap and small-cap indices were substantial. They managed to recover in the last hour of trade but still ended with considerable losses.

The CNX Mid-Cap index ended with losses of 48 points, or 0.93 per cent, at 5113. BSE mid-cap index lost 0.91 per cent and the BSE small cap index ended with losses of 0.89 per cent.

Malu Paper gained another 13.73 per cent after yesterday's gains of 20 per cent.

Mid-Day Multimedia, Shiva Texyarn and Pioneer Embroideries closed at 10 per cent upper circuits.

IVP, Dynamatics Technologies, Weizman Industries, Vimta Labs, Thiru Arooran Sugar and DCB were the other major mid-cap gainers.

Heritage Foods, Action Construction, Titanor Components, Rajesh Exports, NEC Life, Vakranjee Software, Godfrey Phillips, Nilkamal Plastics, NIIT and Asian Electronics were among the major mid-cap losers.

Mid-cap news flow

  • Ispat Industries is planning to expand its steel capacity from 3 million tonnes to 5 million tonnes per annum at an investment of Rs2,000 crore.
  • Varun Shipping has raised Rs233 crore by issuing equity shares and convertible warrants on a preferential basis.
  • Greenply Industries has started commercial production at its new plywood and particle board unit in Uttaranchal.
  • Dollex Industries has started commercial production at its newly acquired sugar mill. The mill is expected to produce 30,000 tonnes of sugar and 12,000 tonnes of molasses per year.
  • The board of Q-Flex Cables would meet early next week to consider the acquisition of Asia cables, which is also in the manufacture of domestic electrical cable.
  • The board of Rama Pulp would meet early next week to consider expansion and modernisation besides possible acquisitions and financing plans.
  • Virat Crane has entered into agreements with major retail companies to sell its products.
  • Monsanto India has sold its business of manufacturing and trading in a herbicide for an undisclosed amount.
  • Accentia Technologies said it is on the look out for possible acquisitions and is willing to spend up to $12 million.
  • Yes Bank has launched a new division to handle micro-finance initiatives.
  • Rain Commodities is considering a hike in FII investment limit
  • Gati has raised $20 million from a FCCB issue. The 5-year bonds would be listed in Singapore and are convertible at Rs125 per share.
  • KLG Systel would issue 10.7 lakh warrants which are convertible at Rs261 per share to promoters.
  • Yokogawa India said its parent company would set up a wholly owned subsidiary in the country for research activities.
  • Accel Frontline has been selected as a strategic regional partner for some of the southern states by Sun Microsystems.
  • Jupiter Biosciences would hold a board meeting next week to consider the proposed FCCB issue.

*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 Counters
Figures in Rupees

BSE 30
Scrip Name Open High Low Last Price
ACC
1,170.00
1,178.25
1,139.25
1,145.15
Bajaj Auto
2,738.00
2,750.00
2,685.15
2,710.80
Bharti Tele
641.90
650.55
630.00
646.80
BHEL
2,600.00
2,643.00
2,552.00
2,621.35
Cipla
252.80
254.30
247.50
248.05
Dr Reddys Lab
769.00
769.00
750.10
756.60
Grasim Indus
2,760.00
2,787.00
2,725.00
2,740.25
Guj Ambuja
144.00
144.00
138.50
140.00
HDFC Bank Ltd
1,094.75
1,108.90
1,084.00
1,088.50
HDFC Ltd
1,610.00
1,610.00
1,570.50
1,589.50
Hero Honda
751.10
769.70
700.00
767.40
Hindalco
176.90
180.00
176.25
177.70
HLL
240.00
241.50
237.05
238.60
ICICI Bank
869.00
877.80
861.00
870.85
Infosys
2,245.00
2,280.00
2,240.00
2,244.75
ITC
190.50
192.00
186.50
187.50
L&T
1,465.00
1,476.00
1,440.00
1,462.85
Maruti
952.50
960.00
935.25
942.55
NTPC
150.60
151.60
147.10
148.10
ONGC
860.00
869.80
857.05
864.90
Ranbaxy
386.50
392.75
385.00
391.10
Rel Energy
500.00
557.95
478.00
540.30
Reliance
1,284.60
1,299.35
1,270.60
1,280.10
Satyam
465.00
472.00
458.80
463.40
SBI
1,340.00
1,355.00
1,332.00
1,338.10
Tata Motors
886.00
888.00
862.60
880.60
Reliance Comm Ventures Ltd
460.90
467.70
448.00
462.50
Tata Steel
495.00
501.90
483.50
488.90
TCS
1,195.95
1,204.90
1,179.00
1,195.75
Wipro
594.60
601.00
587.25
589.85
   Last Update : 6 December, 2006 16:00 PM

S&P CNX Nifty
Scrip Name Open High Low Last Price
RELIANCE
1284.8
1298.95
1270.15
1281.35
INFOSYSTCH
2240
2280
2222.2
2248.9
SATYAMCOMP
466
473
459
463.8
TATASTEEL
495
502
483.35
491.05
RCOM
459.2
468
448.2
462.5
SUZLON
1428
1428
1356.55
1369
ZEETELE
362.9
363.35
349
351.2
LT
1466
1475
1440
1462.75
BHEL
2590
2645
2550.25
2620.85
SBIN
1341.5
1362
1330.15
1338.25
TCS
1172.2
1207
1172.2
1198.6
SIEMENS
1183
1185
1150
1160.15
BHARTIARTL
644
651.9
630.5
647.35
TATAMOTORS
872.1
888
864
881.45
ONGC
859.1
869
855.05
865.6
ACC
1140.5
1179
1140.5
1145.3
SAIL
88.3
89.15
86.35
86.7
RANBAXY
385
392.5
385
390.95
HINDLEVER
239
241.1
237
238.75
ITC
190.35
191.95
186.55
188.3
BAJAJAUTO
2712
2748.45
2687.15
2710.95
GUJAMBCEM
142
143.65
138.5
140
HDFC
1610
1610
1576
1589.4
ICICIBANK
863
878.4
861.35
868.45
HCLTECH
639
649.4
629.05
640.05
DRREDDY
767
767
723.45
756.05
HINDALC0
177
180
176.15
177.9
MARUTI
954
961
935.05
941.25
ABB
3770
3770
3660
3678
PNB
572
578.5
549.15
554.15
WIPRO
594
601
587.25
589.95
IPCL
291
291
283.1
285.5
HDFCBANK
1104.7
1108
1082
1087.25
JETAIRWAYS
699
699
660.2
669.3
REL
555
558
535.2
542.65
TATAPOWER
598
604.9
592.3
598.4
CIPLA
254.45
254.8
247.5
248.1
HEROHONDA
770
771
759.1
767.75
M&M
848.8
848.8
830
838.9
VSNL
443.05
448
432.3
435
GRASIM
2765
2793.9
2732
2750.95
DABUR
144.9
148
144.45
145.15
GAIL
267.9
269.5
262
268.65
GLAXO
1200
1244
1178
1201.05
HINDPETRO
292.5
295.1
283
284.15
BPCL
342.8
342.8
335
335.85
MTNL
139.05
140
135.5
136.9
ORIENTBANK
253.65
253.65
245.9
249.65
SUNPHARMA
1049.5
1049.5
996
1019
NATIONALUM
217.15
220.75
215.2
216.35
Last Update : 6 December, 2006 16:00 PM


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