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

Market: Indices
Gain (+) / Loss (-)
SENSEX
13,340.21
-41.80
NIFTY
3,815.55
-16.45
Last Update :20 December, 2006 16:28 PM

It was another day of high volatility for the indices after yesterday's steep fall. Helped by the recovery across Asian markets, the indices started on a firm note before slipping. They recovered after mid-morning and went past the opening highs by early afternoon.

Another decline took them close to their mid-morning lows and they finished on a weak note.

Sensex closed with losses of 42 points at 13340 and the Nifty lost 16 points to end at 3816. Nifty December futures closed at a discount of 30 points to the spot index.

Hero Honda was the worst performer among index stocks and slipped 3.81 per cent. Tata Motors continued its down trend on fears that the ongoing agitation against its proposed plant in Bengal would affect future product launches. The stock ended 2.9 per cent lower.

Suzlon Energy continued to slip and gave up another 3.14 per cent.

Tata Power gave up 2.63 per cent today. The stock has lost most of the over 5 per cent gains from Monday over the last 2 sessions. Reliance Energy lost 1.7 per cent.

HLL remained weak and lost 3.07 per cent.

Wipro was the worst performer among tech stocks, declining 2.03 per cent.

HDFC Bank remained weak for most of the session and closed 1.74 per cent lower.

VSNL and Grasim were the other major losers among index stocks.

ONGC remained firm throughout the session and prevented further losses for the indices. The stock ended 1.53 per cent higher. HPCL added 1.87 per cent despite higher crude oil prices. Gail India ended with gains of 2.26 per cent.

M&M was the best performer among index stocks after its JV with Renault started an advertising campaign about its proposed entry into the domestic market. The stock ended 2.54 per cent higher while Maruti added 1.41 per cent.

Tata Steel gained another 2.21 per cent on rising speculation that the company may drop out of the race to acquire Corus.

Jet Airways bounced back 1.9 per cent, despite rising oil prices.

ITC remained firm for most of the session and closed 1.19 per cent higher.

HDFC and Cipla were the other major gainers, both adding more than a per cent each.

Global markets / crude oil
US markets recovered yesterday, despite higher than expected producer price inflation. Higher crude oil prices helped oil stocks, leading to decent gains for the broader frontline indices.

The Dow closed with gains of nearly 0.25 per cent at a new lifetime high while S&P 500 ended more than 0.2 per cent higher. Technology stocks remained weak and the NASDAQ ended almost 0.25 per cent lower.

Asian markets bounced back after yesterday's slump. Thailand rallied more than 11 per cent after crashing nearly 15 per cent yesterday. Indonesia gained over 1.7 per cent while Japan and Hong Kong gained around 1.4 per cent each. Malaysia gained 1.5 per cent while South Korea ended a per cent higher. Singapore added 0.8 per cent and Shanghai continued its rally with gains of close to 0.4 per cent.

European markets opened weak but have recovered in early afternoon trades. Major indices are trading with gains of between 0.3 and 0.6 per cent each.

Crude oil prices rose yesterday on speculation about lower US inventories, in data to be released today. Near month NYMEX futures ended nearly 2 per cent higher at $63.46 per barrel. The commodity has gained further and is trading around $63.7 per barrel in European trades today.

Large-cap news flow

  • HCL Technologies has won a 5-year contract worth $200 million from a UK-based provider of long term savings solutions. The company would absorb around 250 employees of the UK company.

  • Union Bank of India would enter the life insurance venture in partnership with Bank of India and a Japanese insurance company.

  • HPCL may rope in Mittal group, promoters of Arcelor-Mittal, as a strategic investor in the proposed $3 billion Bhatinda refinery, according to unconfirmed media reports.

Mid-Cap Action

Mid-caps and small caps also moved in line with the large caps today and saw some volatility. However, select stocks continued to surge ahead and ended with significant gains.

The CNX Mid-Cap index ended 16 points, or 0.34 per cent, lower at 4923. BSE mid-cap index lost 0.38 per cent and the BSE small cap index ended with losses of 0.21 per cent.

Sobha Developers had an excellent listing on the exchanges today. Issued at Rs640 per share, the stock opened at Rs1,120 on the NSE and surged to a high of Rs1,248. The stock finally settled at Rs926.65 with gains of 44.79 per cent

Ruchira Papers, another new listing today, had a weak opening. Issued at Rs23 per share, the stock opened at Rs24 on the NSE and declined to a low of Rs20.7. The stock ended at Rs21, a decline of 8.48 per cent.

Carol Info, one of the major gainers yesterday, surged today as well and ended at 20 per cent upper circuit. Goldstone Technologies was locked in the 10 per cent upper circuit today as well, its 8th straight session on upper circuit. Nelco, Parekh Aluminex, GKW and Lotte India were also locked in 10 per cent upper circuits.

Among other mid-cap gainers, iGate Global surged 18.46 per cent and JBF Industries added 10.81 per cent.

Peninsula Land, Birla Ericsson, Polyplex, Aarvee Denim, Entertainment Network, Sirpur Paper, Atlanta and Shree Precoated were among the major mid-cap losers.

Mid-cap news flow

  • Gitanjali Gems has acquired a large US-based jewellery retail chain for an undisclosed sum. The acquired company has 97 stores across US with revenues of around Rs450 crore.

  • Parsvnath Developers has acquired a plot in New Delhi for Rs450 crore in an auction. The company is planning to set up a 5-star hotel and commercial complex with multiplex theatre at the site.

  • Indiabulls has fixed 19 December as the effective date for the de-merger of its real estate business. The company has acquired the whole of a privately held real estate development firm for an undisclosed sum.

  • Peninsula Land has raised Rs156 crore by issuing 26 lakh equity shares at a price of Rs600 per share to institutional investors.

  • Pantaloon Retail has allotted 62.65 lakh equity shares to institutional investors at a price of Rs415 per share.
  • Sasken Communications said a Taiwanese mobile phone equipment manufacturer has acquired the license to use the company's technology for multimedia solutions on phones.

  • AIA Engineering has allotted 10.2 lakh equity shares to institutional investors at a price of Rs1,225 per share.

  • Garware Offshore would raise up to $25 million from a QIP issue.

  • Four Soft has acquired a Danish developer of software solutions for the logistics sector in a $10 million cash and stock deal. The company said this acquisition would strengthen its presence in Scandinavia, Australia and Hong Kong. Four Soft would raise funds from domestic and international markets. The company has also won an order worth Rs3.4 crore from Japan.

  • KEC International has won 4 new orders from the Middle East and Africa worth a total of Rs151 crore for construction of power transmission lines.

  • Torrent Power has signed an agreement for power distribution in Bhivandi, Maharashtra.

  • Oudh Sugar has completed the expansion at 2 of its sugar mills at an investment of Rs155 crore. The company has also expanded the distillery capacity at one of these mills for Rs100 crore. Oudh Sugar is also setting up a new sugar mill at a cost of RS336 crore, which would be operational by 2008.

  • Accel Transmatic has set up a marketing office in the US.

  • Stone India has signed an agreement with an Italian company for domestic manufacture of brake units for high speed trains. The company has won orders for two brake units for high speed trains, valued at Rs20.5 lakh each.

  • NIIT Limited has launched a new training programme for engineering students.

  • Seasons Textiles has been granted credit facilities totalling over Rs30 crore by banks.

  • Bhagyanagar India has sold a part of its land holdings in Hyderabad for Rs53.5 crore.

*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
1,001.00
1,049.00
1,001.00
1,024.25
Bajaj Auto
2,565.60
2,590.00
2,501.10
2,509.25
Bharti Tele
603.70
BHEL
2,284.90
2,328.00
2,232.00
2,278.25
Cipla
242.00
246.00
241.60
244.15
Dr Reddys Lab
805.00
806.90
779.00
799.55
Grasim Indus
2,720.00
2,750.00
2,645.00
2,665.25
Guj Ambuja
136.00
137.90
132.00
134.20
HDFC Bank Ltd
1,039.70
1,047.00
1,007.00
1,017.55
HDFC Ltd
1,551.00
1,595.00
1,525.00
1,571.40
Hero Honda
764.00
765.00
725.30
730.55
Hindalco
171.50
173.95
169.05
170.00
HLL
225.50
227.40
217.20
218.45
ICICI Bank
871.70
879.70
855.10
859.15
Infosys
2,175.00
2,198.10
2,151.15
2,172.35
ITC
170.00
173.25
169.00
170.65
L&T
1,425.00
1,444.40
1,368.20
1,408.90
Maruti
910.00
938.00
896.00
923.00
NTPC
135.00
137.45
132.85
133.75
ONGC
847.65
875.00
847.00
858.80
Ranbaxy
 
 
 
388.25
Rel Energy
525.00
529.00
511.10
514.05
Reliance
1,260.00
1,274.00
1,231.15
1,248.60
Satyam
465.70
472.30
451.55
458.40
SBI
1,239.80
1,258.00
1,205.00
1,216.30
Tata Motors
865.10
880.40
829.15
835.95
Reliance Comm Ventures Ltd
453.70
462.00
437.55
447.55
Tata Steel
463.00
473.45
450.10
465.10
TCS
1,145.00
1,175.00
1,122.30
1,134.85
Wipro
571.00
578.15
550.00
555.45
   Last Update : 20 December, 2006 16:00 PM

S&P CNX Nifty
Scrip Name Open High Low Last Price
RELIANCE
1260
1275
1233.3
1248.9
RCOM
455
462
437.5
447.5
BHEL
2301
2329
2232
2280.95
INFOSYSTCH
2165
2199
2151
2170.7
ONGC
851
873.35
840.55
858.05
TATASTEEL
460
474
451
465.1
TATAMOTORS
863
880.95
828.35
836.45
SBIN
1244
1259
1206
1216.6
ITC
169
177
169
170.4
LT
1414.2
1441.7
1370
1409.8
SUZLON
1295
1295
1206.4
1239.2
SATYAMCOMP
466
472.9
451
458.7
ICICIBANK
870
879.75
846.15
854.4
TCS
1150
1167.85
1115.05
1128.75
SIEMENS
1159
1169.4
1102
1117.3
HDFC
1506.55
1597
1506.55
1571.55
M&M
800
825.55
796.35
814.95
HCLTECH
610
619.8
579
599.1
HINDLEVER
226
227
217.25
218.15
ACC
1034
1057
1012
1024.05
WIPRO
570.5
578.85
546.3
555.25
HDFCBANK
1039.7
1048
1005
1020.7
ZEETELE
275
276.5
264
268.9
MARUTI
915
936.9
895
922.65
ABB
3600
3619.8
3451.6
3544.2
BHARTIARTL
606
617.9
596
604.7
GUJAMBCEM
137.4
137.75
132.25
134.05
DRREDDY
800
807.5
777
799.3
HINDALC0
171.5
173.9
169
170.2
BAJAJAUTO
2588
2588
2500
2504.65
RANBAXY
389.9
394
383.05
387.25
SAIL
84.9
85.75
82.15
83.2
HEROHONDA
758
765
720.55
725.25
PNB
504
509.5
488.3
498.7
IPCL
274
280.7
272.1
274.6
BPCL
327
327
320
321.1
JETAIRWAYS
598.8
609.4
585
599.85
CIPLA
242
245.95
241.05
244.1
HINDPETRO
265
277.95
260
274.65
VSNL
404
407
386
391.2
SUNPHARMA
945
962.8
921
937.75
GRASIM
2744.4
2746.95
2640
2659.55
REL
524.9
529.9
510
513.5
TATAPOWER
577.4
579
550.1
556.3
GAIL
248.8
255
248.8
253.15
MTNL
132
132
129
130
GLAXO
1140
1158.4
1111.15
1122.1
DABUR
143.8
145.7
140.1
141.65
NATIONALUM
213
215.9
211
211.25
ORIENTBANK
221.15
224.8
215
217.3
Last Update : 20 December, 2006 16:00 PM


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