|
Once again the markets opened with a strong positive gap
as traders keenly anticipate the 8000-mark on the sensex.
The buying was not sustained and the indices declined
soon after opening and went into negative territory.
The announcement of the fuel price hike helped the indices
to recover towards noon. More selling emerged in early
afternoon trades and the indices once again gave up all
of the intra-day gains. The last hour of trade saw some
buying emerge and helped the indices to close higher.
Sensex closed at 7951, a gain of 26 points, and the Nifty
at 2429, a gain of 6 points. Nifty September futures closed
at a discount of 4 points to the spot index.
Tata Chemicals, Cipla and Oriental Bank of Commerce were
the biggest gainers on the Nifty while Bajaj Auto, BPCL
and Dabur were the major losers.
The government finally decided to increase the retail
prices of petrol and diesel. The price of petrol goes
up by Rs3 per litre while diesel prices would increase
by Rs2 per litre. The prices of kerosene and cooking gas
have been left unchanged.
The price increase would help the PSU oil marketing companies
to recover part of the losses they are incurring now.
The government has made it clear that it expects the companies
to bear more than half the costs of increase in crude
prices. The government is also studying a proposal to
issue oil bonds to the marketing companies to compensate
for their losses.
Indian Oil said it expects to post a marginal profit during
the current quarter ending September after the price hike.
The company, like all other oil-marketing companies, had
posted losses in the first quarter.
Oil stocks were mixed in today's trade after the announcement.
HPCL was the biggest gainer, closing more than a per cent
higher. BPCL on the other hand lost well over a per cent.
ONGC closed with losses of over half-a-per cent.
Essar Global, a part of the Essar group, has bought two
steel plants from South Korea. These plants are to be
dismantled and shipped to India where they are expected
to be reassembled by Essar Steel.
The two plants have a combined capacity of 2.5-million
tonnes per annum. The plants were acquired at a cost of
$100 million.
Among the frontline stocks, ITC, ICICI Bank and SBI were
the major gainers.
Mid-Cap Action
Mid-caps
were lacklustre today and the market breadth turned negative.
The index struggled to stay in positive territory throughout
the session as selling pressure emerged across many sectors.
The CNX Mid-Cap index closed the day without any change
at 3726.
Institutional
buying was seen in GE Shipping, which had announced a
de-merger of its offshore services division recently.
Institutional investors expect the division to fetch good
valuations when it is listed separately as offshore services
are much in demand because of high oil prices. The stock
closed with gains of over 5 per cent.
Cyber
Media gained well over 10 per cent to close at a new lifetime
high after the company announced a new tie-up with a large
US-based media company. The stock has seen considerable
appreciation over the last few days.
Satnam
Overseas, a leading rice exporter, has raised $20 million
from an FCCB issue. The zero coupon bonds would be listed
on the Luxembourg Stock Exchange and are redeemable after
five years.
Garment
retailing company Provogue surged today on reports that
its promoter has been released from police custody on
bail. The person was arrested on charges of drug trafficking.
The
merger between Hyderabad Industries and Malabar Building
Products has been approved. Shareholders of the latter
would get 29 shares of Hyderabad Industries for every
100 shares of Malabar Building held by them. Malabar Building
is a manufacturer of construction material with facilities
in South India.
3M
India, a subsidiary of 3M of US, gained over 10 per cent
in early trades on expectations that the parent company
would make an open offer to buy out minority shareholders.
 Indo
Rama Synthetics, Zenith Info and GTC Industries were among
the significant mid-cap gainers.
Scandent
Solutions, Blue Star Info and Bank of Rajasthan were among
the significant mid-cap losers.
*Disclaimer:
The author does not have any position in 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.
Other
articles by Rex Mathew
List
of general reports on markets
List
of general reports on finance
Market:
Indices
National
Markets
Gain (+) / Loss (-)
|
SENSEX
|
7,946.78 |
+21.54
|
| NIFTY
|
2,428.65 |
+5.70 |
Last
Update : 6 September, 2005, 16:15 PM
Market
Counters
Figures in Rupees
BSE
30
| Scrip
Name |
Open |
High |
Low |
Last
Price |
| CIPLA
LTD. |
357.85
|
366.50
|
357.85
|
364.70 |
| STATE
BANK OF INDIA |
820.00
|
845.00
|
817.20
|
838.35 |
| I
T C LTD |
1,800.00
|
1,835.00
|
1,760.00
|
1,830.25 |
| BHARTI
TELE |
320.00
|
326.00
|
318.00
|
325.05 |
| SATYAM
COMP |
528.00
|
534.15
|
522.05
|
531.30 |
| HEROHONDA
M |
697.00
|
710.00
|
684.00
|
702.80 |
| ICICI
BANK L |
488.90
|
493.45
|
485.00
|
487.95 |
| GRASIM
INDUSTRIES LTD. |
1,280.00
|
1,289.00
|
1,275.00
|
1,285.00 |
| INFOSYS
TECHNOLOGIES LTD.-ORDI |
2,359.90
|
2,379.00
|
2,350.00
|
2,363.95 |
| WIPRO
LTD. |
377.80
|
380.00
|
375.00
|
377.30 |
| TATA
IRON AND STEEL CO. LTD. |
406.30
|
408.90
|
403.25
|
405.80 |
| TATA
POWER |
463.00
|
470.00
|
459.50
|
460.80 |
| HDFC
BANK LT |
646.90
|
646.90
|
636.00
|
640.80 |
| TATA
MOTORS |
493.10
|
499.80
|
489.00
|
495.60 |
| GUJARAT
AMBUJA CEMENTS LTD. |
72.25
|
72.75
|
70.40
|
70.90 |
| BAJAJ
AUTO |
1,482.00
|
1,490.00
|
1,464.20
|
1,468.30 |
| LARSEN
& TOUBRO LTD. |
1,326.00
|
1,333.80
|
1,305.00
|
1,311.45 |
| ASSOCIATED
CEMENT COMPANIES LT |
484.00
|
484.95
|
477.00
|
478.90 |
| TCS
LTD |
1,415.00
|
1,422.00
|
1,387.00
|
1,397.65 |
| ONG
CORP LTD |
990.00
|
995.00
|
980.15
|
982.40 |
| RELIANCE
ENR |
587.00
|
588.00
|
578.45
|
580.20 |
| NTPC
LTD |
103.80
|
103.80
|
102.60
|
103.00 |
| MARUTI
UDYOG |
505.00
|
509.90
|
495.10
|
502.65 |
| HINDUSTAN
LEVER LTD. |
167.20
|
167.85
|
164.65
|
165.55 |
| RANBAXY
LABORATORIES LTD. |
551.00
|
554.80
|
539.15
|
546.45 |
| HOUSING
DEVELOPMENT FINANCE CO |
905.00
|
905.00
|
899.00
|
902.00 |
| HINDALCO
IN |
149.50
|
151.95
|
146.60
|
147.45 |
| RELIANCE
|
731.00
|
734.75
|
725.15
|
729.05 |
| DR.REDDY'S
LABORATORIES LTD. |
772.00
|
775.60
|
765.00
|
772.00 |
| BHEL
|
1,078.00
|
1,089.00
|
1,068.00
|
1,080.00 |
Last
Update : 6 September, 2005, 16:05PM
S&P
CNX Nifty
| Symbol |
Open |
High |
Low |
Last
Price |
| RELIANCE
|
730.00
|
734.90
|
725.50
|
728.90 |
| SBIN
|
822.00
|
838.00
|
816.50
|
835.15 |
| INFOSYSTCH
|
2390.00
|
2390.00
|
2345.10
|
2364.00 |
| TISCO
|
405.00
|
408.95
|
403.60
|
406.30 |
| TCS
|
1415.00
|
1419.90
|
1388.00
|
1398.45 |
| SATYAMCOMP
|
526.55
|
535.00
|
521.50
|
531.70 |
| VSNL
|
391.00
|
393.00
|
382.55
|
384.30 |
| HINDPETRO
|
299.95
|
307.70
|
298.00
|
300.95 |
| ITC
|
1799.85
|
1833.90
|
1799.85
|
1827.15 |
| TATAMOTORS
|
495.50
|
498.95
|
489.10
|
495.40 |
| ZEETELE
|
186.60
|
190.80
|
183.60
|
185.35 |
| MARUTI
|
508.00
|
508.00
|
495.15
|
502.85 |
| RANBAXY
|
552.05
|
554.00
|
538.25
|
546.25 |
| SAIL |
62.35 |
62.70
|
61.20
|
61.45 |
| TATACHEM
|
189.00
|
196.25
|
188.00
|
195.20 |
| WIPRO
|
378.50
|
379.90
|
375.00
|
378.00 |
| PNB
|
412.50
|
418.90
|
408.40
|
417.05 |
| BHARTI |
317.05 |
327.50
|
317.05
|
325.30 |
| TATAPOWER
|
463.80
|
468.95
|
460.00
|
461.00 |
| ONGC
|
994.75
|
1000.00
|
981.00
|
985.10 |
| HINDALC0
|
149.95
|
151.95
|
146.40
|
147.45 |
| GUJAMBCEM
|
72.20
|
72.40
|
70.40
|
70.90 |
| BPCL
|
370.05
|
380.00
|
365.20
|
366.60 |
| ICICIBANK
|
481.10
|
525.00
|
481.10
|
488.00 |
| CIPLA
|
373.50
|
373.50
|
359.00
|
365.05 |
| ACC
|
483.50
|
485.50
|
477.10
|
480.75 |
| GAIL
|
239.00
|
242.00
|
237.60
|
241.25 |
| HEROHONDA
|
694.00
|
709.95
|
681.00
|
703.45 |
| HINDLEVER
|
168.40
|
168.40
|
164.85
|
165.70 |
| LT
|
1328.00
|
1332.90
|
1301.50
|
1311.90 |
| ABB
|
1733.00
|
1780.00
|
1721.00
|
1758.85 |
| GRASIM
|
1289.00
|
1300.00
|
1270.50
|
1280.40 |
| BHEL
|
1081.25
|
1088.50
|
1050.05
|
1077.20 |
| M&M
|
360.00
|
362.40
|
355.15
|
357.90 |
| ORIENTBANK
|
259.00
|
265.00
|
257.00
|
264.60 |
| IPCL
|
190.70
|
190.95
|
187.10
|
188.85 |
| REL
|
586.85
|
586.85
|
577.20
|
580.10 |
| MTNL
|
129.10
|
131.80
|
128.00
|
131.30 |
| HDFC
|
905.10
|
907.00
|
899.00
|
901.80 |
| DRREDDY
|
775.00
|
775.00
|
765.95
|
770.25 |
| SCI
|
159.50
|
161.15
|
158.20
|
159.40 |
| BAJAJAUTO
|
1492.65
|
1495.00
|
1465.50
|
1468.95 |
| NATIONALUM
|
176.45
|
179.00
|
176.00
|
178.00 |
| HDFCBANK
|
641.00
|
644.00
|
635.55
|
642.50 |
| HCLTECH
|
445.25
|
447.90
|
438.10
|
440.75 |
| TATATEA
|
831.00
|
840.00
|
840.00
|
824.50
|
| DABUR
|
157.90
|
158.40
|
154.55
|
155.05 |
| COLGATE
|
253.00
|
255.00
|
249.25
|
253.30 |
| GLAXO
|
872.00
|
905.00
|
872.00
|
896.85 |
| SUNPHARMA
|
634.10
|
643.00
|
634.10
|
640.00 |
Last
Update : 6 September, 2005, 16:00PM
|
