The market ended almost unchanged after seeing range-bound movement throughout the day. Shares from sugar, consumer durables and real-estate sectors outperformed, while those from the FMCG, cement, auto and healthcare sectors underpeformed. The turnover was also subdued. US stocks had also closed without much movement yesterday, 13 August 2007.
Asian indices settled on a mixed note, while European indices were trading on a weak note today, 14 August 2007, even as the Indian markets closed for the day. Crude oil rose on Tuesday, 14 August 2007,with US crude gaining 23 cents at $71.85 a barrel, supported by central banks' moves to pump extra cash into financial systems to head off dangers of a credit squeeze.
Global markets are watching with concern for cues from hedge funds, which have been hit due to their exposure to subprime mortgage-backed loans. 15 August 2007 is the last day of the 45-day notice period required for investors to withdraw money from many hedge funds across the world for the current July-September 2007 quarter.
The BSE 30-share Sensex declined marginally by 16.30 points, or 0.11%, to 15,000.91. It had opened higher at 15,066.71 and climbed up to a high of 15,069.64. But from here, the index had started declining and touched a low of 14,946.66 at 13:12 IST. It recovered later from that low. The benchmark index oscillated in a narrow range of 105 points for the day.
The Sensex is 868 points away from its all-time high of 15,868.85 hit on 24 July 2007. However, in the past one year it has surged 3,687.92 points, or 32.60%, from 11,312.99 on 14 August 2006 till 15,017.21 on 13 August 2007.
The S&P CNX Nifty slipped 3.45 points, or 0.08%, to 4,370.20. The Nifty August 2007 futures settled at 4347, a discount of 23.20 points as compared to the spot closing.
The market breadth was strong on BSE with 1,580 shares advancing as compared to 1,113 that declined, while 88 remained unchanged.
The total turnover on BSE amounted to Rs 4030 crore as against Rs 4,157.97 crore on Monday, 13 August 2007. The average daily turnover on BSE is Rs 4873.15 crore
The NSE F&O turnover was Rs 28493.98 crore as compared to Rs 31627.64 crore on Monday, 13 August 2007.
The BSE Mid-Cap Index declined 0.20% to 6,563.16, underperforming the broad market. The BSE Small-Cap Index was an outperformer, rising 0.08% to 8,034.56.
The BSE Consumer Durables index was the top gainer among the sectoral indices on BSE, up 2.07% to 4,231.87. The BSE FMCG Index was the top loser, down 0.54% to 1,921.78.
Among the sectoral indices on BSE, Bankex (up 0.24% to 7,846.29), the BSE Metal index (up 0.07% to 11,016.63), the BSE Oil & Gas index (up 0.47% to 7,847.70), the BSE PSU index (up 0.54% to 7,004.98) and the BSE Realty index (up 1.19% to 7,391.06) gained.
While the BSE Auto index (down 0.30% to 4,811.59), the BSE Capital Goods index (down 0.27% to 12,780.51), the BSE Healthcare index (down 0.32% to 3,629.60), the BSE IT index (down 0.08% to 4,761.44), and the BSE TECk index (down 0.07% to 3,675.22), declined.
Among the 30-member Sensex pack, 16 declined while the rest of them gained.
NTPC, the country's largest power generation firm, rose 3.10% to Rs 173 on high volumes of 18.76 lakh shares. It was the top gainer from the Sensex pack. It struck an all-time high of Rs 176.80 in intra-day trade. Late last week, NSE decided to add NPTC in S&P CNX Nifty index in place of Dabur India from 24 September 2007.
State Bank of India (SBI), the country's largest bank, moved up 0.10% to Rs 1614.70 on its plans to mop up nearly Rs 180000 crore over the next five years, including a Rs 14500-crore public offer this fiscal.
HDFC Bank (up 1.26% to Rs 1149.90), ONGC (up 1.99% to Rs 860) and Hindalco Industries (up 0.92% to Rs 153.90) were the other gainers from the Sensex pack.
India's largest private sector company and oil refiner Reliance Industries (RIL) rose 0.45% to Rs 1837.10 on 4.47 lakh shares. It moved in a range of Rs 1815 and Rs 1842. As per reports, RIL has received clearance from West Bengal's Food Processing and Horticulture department for its agri-retail business in the state.
ACC, the country's second largest cement producer, slipped 2.40% to Rs 988 on 2.01 lakh shares. It was the top loser from the Sensex pack.
MNC associate FMCG giant Hindustan Unilever declined 1.55% to Rs 200.40 on profit booking after rallying 4% to Rs 203.50 yesterday, 13 August 2007. According to AC Nielsen's retail panel, HUL's market share in the instant coffee market rose from 40.7% in the March 2007 to 47.4% in the June 2007 quarter. In fabric wash too, HUL's share in the June 2007 quarter went up to 37.8% from 36.4% in the preceding quarter. Also, HUL's share in shampoos increased from 46.9% to 47.5%.
HDFC (down 1.85% to Rs 1947) and Grasim (down 1.92% to Rs 2880.25) were the other losers from the Sensex pack.
Shares from the consumer durables sector were in demand on fresh buying. Blue Star (up 3.92% to Rs 314), Gitanjali Gems (up 1.85% to Rs 260), Titan Industries (up 2% to Rs 1174) and Videocon Industries (up 3% to Rs 380) advanced.
Sugar shares also advanced on renewed buying. Bajaj Hindustan (up 0.85% to Rs 137.10), Shree Renuka Sugars (up 2.91% to Rs 515), Balrampur Chini (up 1.90% to Rs 62), and Sakthi Sugars (up 4% to Rs 77.20) closed higher.
Omnitech InfoSolutions was trading at Rs 164.55 on BSE, a premium of 56.71% over the IPO price of Rs 105. It debuted at Rs 183.75 on BSE, and hit a low and high of Rs 155 and 183.75, respectively. About 89.97 lakh shares were traded on the counter on BSE. The company had fixed the issue price at the top end of the Rs 90-Rs 105 price band. Omnitech InfoSolutions IPO ended on 25 July 2007 with 61.84 times subscription.
Pearl Fashion jumped 4.45% to Rs 284.10 after a block deal of 9.86 lakh shares was struck at Rs 255 per share on BSE by 13:17 IST.
Pratibha Industries climbed up 3% to Rs 268.40 after it secured a contract from the Indore Development Authority for a road construction project. The total value of the contract is Rs 137.70 crore. The project is in joint venture with Niraj Cement Structurals, and is to be executed in 24 months.
Advanta India surged 11.50% to Rs 881 after the central bank approved raising the foreign fund limit to 49%. The present foreign holding on the counter is 22.93% (as of June 2007).
Petron Engineering galloped 15.15% to Rs 218.95 after it bagged a contract for fired heaters for Bina Refinery Project being developed by Bharat Oman Refineries for a contract value of Rs 127 crore.
Retailer Trent moved up 3% to Rs 681 on reports Europe based Benetton may enter into distribution tie-up with the Tata Group company for its premium fashion brand Sisley. Sisley, with over 850 outlets globally, is targeted at the premium end of the apparel market. The brand was created in 1968 in Paris and entered the Benetton fold in 1974.
JSW Steel scaled up 3% to Rs 648 on reports that it has set up JSoft Solutions, a Bangalore-based IT company, that is likely to be spun off as an independent vertical.
Diamond Cables was locked at the upper limit of 5% at Rs 289.15 after private-equity investor Clearwater Capital Partners agreed to help it revive Apex Electrical and three other group firms. The funding for the revival, through debt and equity would be about Rs 63 crore.
HCL Technologies rose 0.30% to Rs 318.30, off its day's high of Rs 334. Its net profit surged 63.59% to Rs 391.23 on a 1.86% decline in sales to Rs 941.13 crore in Q4 June 2007 over Q3 March 2007. Net profit jumped 72.6% to Rs 1101.82 crore on a 24.3% rise in sales to Rs 3768.62 crore in the year ended June 2007 over the year ended June 2006.
Torrent Power galloped 10.77% to Rs 85.85 on reports its upcoming gas-based combined cycle power project, located near Surat, has been approved as being eligible for Clean Development Mechanism (CDM) benefits.
Hindustan Copper (HCL) advanced 5% to Rs 138.95. As per recent reports, it plans to enter gold mining in India and is scouting copper mines abroad. The stock had jumped 30% in the past six trading sessions, from Rs 99 on 3 August 2007 to Rs 132.35 on 13 August 2007.
Kernex Microsystems India jumped 5% to Rs 297.35. On 10 August 2007, the company said it had executed a service contract with Konkan Railway Corporation, Mumbai, for providing operational maintenance and annual maintenance contract services for the anti-collision systems. The estimated amount of contract for operation and maintenance of ACD systems will be about Rs 28.50 crore.
EIH was down 0.75% to Rs 106 after a block deal of 5 lakh shares was struck in the counter at Rs 105 per share in opening trades on BSE.
Sterlite Optical Technologies jumped 4.54% to Rs 227.95 after it received a Rs 38-crore fibre optic cable order from state-owned Bharat Sanchar Nigam.
Telecom services firm Spice Communications dropped 3.57% to Rs 52.70. The company said on Monday, 14 August 2007, it had received licences to operate national and international long distance voice and data services in India.
Jay Shree Tea & Industries rose 5% to Rs 106.20 after it said it plans to seek shareholders' approval to transfer, lease, sell, or demerge a tea manufacturing unit in Assam and an infotech unit.
Scooter maker LML rose by its maximum daily limit of 10% to Rs 12.99 on a newspaper report that the beleaguered company would re-enter the domestic market with the launch of a 150-cc scooter.
Sanco Transmissions (up 20% to Rs 143.10), Shah Alloys (up 14.83% to Rs 71), MIC Electronics (up 12% to Rs 409), Ahluwalia Contracts (up 9.62% to Rs 653), and Autoline Industries (up 10.44% to Rs 204.20) were the top gainers from the small-cap and mid-cap basket.
DIL (down 8.22% to Rs 273.95), Flex Industries (down 6.90% to Rs 166), UB Engineering (down 6.47% to Rs 85.25), Webel Sl Energy (down 6.17% to Rs 444) and Wpil (down 6.11% to Rs 43) were the top losers from the small-cap and mid-cap basket.
A majority of European indices were trading lower today, 14 August 2007.
Asian indices ended on a mixed note today, 14 August 2007, after wavering around the previous session's closing levels during early trading. Nikkei 225 (up 0.27%), Shanghai Composite (up 1.09%), Singapore's Straits Times (up 0.18%), and Hang Seng (up 0.53%) gained
South Korea's Seoul Composite (down 1.70%) and Taiwan Weighted (down 0.31%) slipped.
US shares closed marginally lower yesterday, 13 August 2007. The Dow Jones industrial average fell 3.01 points, or 0.02%, to 13,236.53. Broader stock indicators were also down. The Standard & Poor's 500 index dropped 0.72 points, or 0.05%, to 1,452.92, and the Nasdaq Composite index retreated 2.65 points, or 0.10%, to 2,542.24.
Oil rose on Tuesday, 14 August 2007 supported by central banks' moves in recent days to pump extra cash into financial systems to head off dangers of a credit squeeze. US crude oil was up 23 cents at $71.85 a barrel while London Brent crude rose 16 cents to $70.39.
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