Rally in global equities and fall in oil prices aided a rebound on the domestic bourses today. Bulls struck back with vengeance as the market recouped most of yesterday (29 July 2008)'s losses caused by further monetary tightening by the Reserve Bank of India. Sensex gained more than 525 points at the day's highs hit in late trade. The barometer index BSE Sensex breached 14,000 mark in early trade and the market remained firm throughout the day.
Reliance Industries (RIL) surged. Banking stocks bounced back from yesterday (29 July 2008)'s steep fall. Metal, IT and realty and power shares also gained. Except BSE FMCG index all the other sectoral indices on BSE gained. HDFC, Tata Steel rose more than 7.5% while Tata Power Company and Reliance Infrastructure rose more than close to 7% each. The market breadth was strong as buying was witnessed across the board.
New York's main contract, light sweet crude for September 2008 delivery slumped $2.54 to $122.19 a barrel on the New York Mercantile Exchange yesterday, 29 July 2008.
The 30-share BSE Sensex jumped 495.67 points or 3.59% at 14,287.21. The index gained 531.13 points at the day's high of 14,322.67, hit in late trade. The index gained 210.65 at the day's low of 14,002.19 at the onset of the trading session.
The broader based S&P CNX Nifty jumped 123.70 points or 2.95% at 4,313.55. Nifty July 2008 futures were at 4330, at a premium of 16.45 points as compared to spot closing of 4313.55.
The barometer index BSE Sensex is down 5,999.78 points or 29.57% in the calendar year 2008 so far from its close of 20,286.99 on 31 December 2007. It is 6,919.56 points or 32.62% away from its all-time high of 21,206.77 struck on 10 January 2008.
The BSE clocked a turnover of Rs 5,273 crore today as compared to a turnover of Rs 5,103.03 crore yesterday, 29 July 2008. NSE's futures & options (F&O) segment turnover was Rs 58,543.91 crore, which was lower than Rs 64,804.21 crore on Tuesday, 29 July 2008. July 2008 derivatives contracts will expire tomorrow, 31 July 2008.
The BSE Mid-Cap index was rose 1.68% to 5,581.01 and the BSE Small-Cap index was up 1.41% to 6,927.08. Both these indices underperformed Sensex.
BSE Bankex (up 5.21% to 6,522.62), BSE Realty index (up 5.09% to 5,041.88), BSE Metal index (up 4.69% to 12,698.70), BSE IT index (up 3.72% to 3,722.09) outperformed Sensex.
BSE FMCG index (down 0.14% to 2,133.22), BSE Consumer Durables index (up 1.04% to 3,659.20), BSE HealthCare (up 1.81% to 4,207.91), BSE PSU index (up 2.49% to 6,676.91), BSE Capital Goods index (up 2.72% to 11,628.37), BSE Auto index (up 2.79% to 3,672.86), BSE Power index (up 3.25% to 2,554.22), BSE Oil & Gas (up 3.27% to 9,607.74), BSE Teck index (up 3.28% to 3,030.52) underperformed Sensex.
The market breadth was strong on BSE with 1,784 shares advancing as compared to 857 that declined. 83 remained unchanged.
As per the provisional figures on BSE, foreign institutional investors sold shares worth Rs 628.47 crore while domestic funds bought shares worth Rs 672.12 crore today, 30 July 2008.
India's largest private sector firm by market capitalization and oil refiner Reliance Industries (RIL) rose 3.74% to Rs 2,163.20.
Bank stocks recovered from Tuesday's steep fall caused by further monetary tightening by the Reserve Bank of India at its quarterly policy review. HDFC Bank (up 6.18% to Rs 1,092.50), ICICI Bank (up 4.59% to Rs 635.30) and State Bank of India (up 4.97% to Rs 1,386.65) edged higher.
Realty stocks surged. Indiabulls Real Estate (up 13.48% to Rs 299.65), DLF (up 3.98% to Rs 490.70) and Unitech (up 3.41% to Rs 162.15) edged higher.
Metal stocks rose. Tata Steel (up 7.83% to Rs 630.05), Steel Authority of India (up 3.58% to Rs 136.05), Hindalco Industries (up 0.65% to Rs 140.15) and Sterlite Industries (up 5.13% to Rs 622.45) edged higher.
IT stocks gained. Satyam Computer Services (up 3.12% to Rs 380.20), Wipro (up 4.9% to Rs 422.45), Infosys (up 4.07% to Rs 1,602.60) and Tata Consultancy Services (up 3.76% to Rs 838.60) edged higher.
Power stocks rose. Tata Power Company (up 6.92% to Rs 1,115.50), Reliance Infrastructure (up 6.9% to Rs 970.80), Reliance Power (up 5.77% to Rs 163.05) edged higher.
HDFC (up 7.99% to Rs 2,273.95), Bharat Heavy Electricals (up 4.83% to Rs 1,668.95), Bharti Airtel (up 3.99% to Rs 809.95), were major gainers from Sensex pack.
India's largest truckmaker by sales Tata Motors rose 4.91% to Rs 416.30. The company today reported 30.13% fall in net profit to Rs 326.11 crore on 17.88% rise in total income to Rs 7,244.05 crore in Q1 June 2008 over Q1 June 2007.
India's largest tractor maker by sales Mahindra & Mahindra rose 2.66% to Rs 513.50. The company's net profit fell 16.66% to Rs 159.3 crore on 25.99% rise in total income to Rs 3331.8 crore in Q1 June 2008 over Q1 June 2007. The company's board approved acquisition of all the business assets of Kinetic Motor Company (KMCL), a two-wheeler company for Rs 110 crore.
Power generation major NTPC fell 4.23% to Rs 170.90. On Tuesday, 29 July 2008, NTPC reported 27.1% fall in net to Rs 1726.53 crore on 5.87% growth in total income to Rs 10256.70 crore in Q1 June 2008 over Q1 June 2007.
India's largest motorbike maker by sales Hero Honda Motor rose 6.27% to Rs 782.30. On Tuesday, the company reported 44% surge in profit after tax to Rs 272.87 crore on 16% growth in turnover to Rs 2890.25 crore.
Birla Cotsyn clocked the highest volume of 5.2 crore shares on BSE. Reliance Natural Resources (3.88 crore shares), IFCI (94.94 lakh shares), Ispat Industries (91.81 lakh shares), Reliance Petroleum (82.98 lakh shares) were the other volume toppers in that order.
Reliance Natural Resources clocked the highest turnover of Rs 374.84 crore on BSE. Reliance Capital (Rs 233.86 crore), Larsen & Toubro (Rs 178.11 crore), Reliance Industries (Rs 166.52 crore) and Housing Development Finance Corporation (Rs 145.42 crore) were the other turnover toppers in that order.
US stocks surged overnight, benefiting from a steep drop in oil prices and an unexpected rise in US consumer confidence after Merrill Lynch's announcement of yet another write-down and capital-raising exercise, raising hopes that the turning point in the year-long credit crisis was close. The Dow Jones Industrial Average rose 266.48 points, or 2.39 per cent, at 11,397.56, the Standard & Poor's 500 Index gained 28.82 points, or 2.33 per cent, at 1,263.19 and the Nasdaq Composite Index rose 55.40 points, or 2.45 per cent, at 2,319.62.
Asian markets were trading higher today, 30 July 2008. Japan's Nikkei, Hong Kong's Hang Seng, Taiwan's Taiwan Weighted, Singapore's Straits Times and South Korea's Seoul Composite were up by between 0.67% to 2.04%. China's Shanghai Composite fell 0.7%.
European markets edged higher. France's CAC 40, Germany's DAX and UK's FTSE 100 were up by between 0.63% to 1.29%.
In the near term, the domestic bourses may remain volatile ahead of expiry of futures & options contracts for July 2008 series on Thursday, 31 July 2008. As per reports, marketwide rollover of positions from July 2008 series to August 2008 series stood at 44%, while that of Nifty was 48%, as of Tuesday 29 July 2008.
The market had slumped yesterday, 29 July 2008 after the Reserve Bank of India (RBI) raised cash reserve ratio (CRR) by 25 basis points and repo rate by 50 basis points at quarterly review of the monetary policy. The 30 share BSE Sensex plunged 557.57 points or 3.89% at 13,791.54 and the broader based S&P CNX Nifty was down 142.25 points or 3.28% at 4,189.85, on that day. The tone of the monetary policy was extremely hawkish.
Reliance Industries (RIL) surged. Banking stocks bounced back from yesterday (29 July 2008)'s steep fall. Metal, IT and realty and power shares also gained. Except BSE FMCG index all the other sectoral indices on BSE gained. HDFC, Tata Steel rose more than 7.5% while Tata Power Company and Reliance Infrastructure rose more than close to 7% each. The market breadth was strong as buying was witnessed across the board.
New York's main contract, light sweet crude for September 2008 delivery slumped $2.54 to $122.19 a barrel on the New York Mercantile Exchange yesterday, 29 July 2008.
The 30-share BSE Sensex jumped 495.67 points or 3.59% at 14,287.21. The index gained 531.13 points at the day's high of 14,322.67, hit in late trade. The index gained 210.65 at the day's low of 14,002.19 at the onset of the trading session.
The broader based S&P CNX Nifty jumped 123.70 points or 2.95% at 4,313.55. Nifty July 2008 futures were at 4330, at a premium of 16.45 points as compared to spot closing of 4313.55.
The barometer index BSE Sensex is down 5,999.78 points or 29.57% in the calendar year 2008 so far from its close of 20,286.99 on 31 December 2007. It is 6,919.56 points or 32.62% away from its all-time high of 21,206.77 struck on 10 January 2008.
The BSE clocked a turnover of Rs 5,273 crore today as compared to a turnover of Rs 5,103.03 crore yesterday, 29 July 2008. NSE's futures & options (F&O) segment turnover was Rs 58,543.91 crore, which was lower than Rs 64,804.21 crore on Tuesday, 29 July 2008. July 2008 derivatives contracts will expire tomorrow, 31 July 2008.
The BSE Mid-Cap index was rose 1.68% to 5,581.01 and the BSE Small-Cap index was up 1.41% to 6,927.08. Both these indices underperformed Sensex.
BSE Bankex (up 5.21% to 6,522.62), BSE Realty index (up 5.09% to 5,041.88), BSE Metal index (up 4.69% to 12,698.70), BSE IT index (up 3.72% to 3,722.09) outperformed Sensex.
BSE FMCG index (down 0.14% to 2,133.22), BSE Consumer Durables index (up 1.04% to 3,659.20), BSE HealthCare (up 1.81% to 4,207.91), BSE PSU index (up 2.49% to 6,676.91), BSE Capital Goods index (up 2.72% to 11,628.37), BSE Auto index (up 2.79% to 3,672.86), BSE Power index (up 3.25% to 2,554.22), BSE Oil & Gas (up 3.27% to 9,607.74), BSE Teck index (up 3.28% to 3,030.52) underperformed Sensex.
The market breadth was strong on BSE with 1,784 shares advancing as compared to 857 that declined. 83 remained unchanged.
As per the provisional figures on BSE, foreign institutional investors sold shares worth Rs 628.47 crore while domestic funds bought shares worth Rs 672.12 crore today, 30 July 2008.
India's largest private sector firm by market capitalization and oil refiner Reliance Industries (RIL) rose 3.74% to Rs 2,163.20.
Bank stocks recovered from Tuesday's steep fall caused by further monetary tightening by the Reserve Bank of India at its quarterly policy review. HDFC Bank (up 6.18% to Rs 1,092.50), ICICI Bank (up 4.59% to Rs 635.30) and State Bank of India (up 4.97% to Rs 1,386.65) edged higher.
Realty stocks surged. Indiabulls Real Estate (up 13.48% to Rs 299.65), DLF (up 3.98% to Rs 490.70) and Unitech (up 3.41% to Rs 162.15) edged higher.
Metal stocks rose. Tata Steel (up 7.83% to Rs 630.05), Steel Authority of India (up 3.58% to Rs 136.05), Hindalco Industries (up 0.65% to Rs 140.15) and Sterlite Industries (up 5.13% to Rs 622.45) edged higher.
IT stocks gained. Satyam Computer Services (up 3.12% to Rs 380.20), Wipro (up 4.9% to Rs 422.45), Infosys (up 4.07% to Rs 1,602.60) and Tata Consultancy Services (up 3.76% to Rs 838.60) edged higher.
Power stocks rose. Tata Power Company (up 6.92% to Rs 1,115.50), Reliance Infrastructure (up 6.9% to Rs 970.80), Reliance Power (up 5.77% to Rs 163.05) edged higher.
HDFC (up 7.99% to Rs 2,273.95), Bharat Heavy Electricals (up 4.83% to Rs 1,668.95), Bharti Airtel (up 3.99% to Rs 809.95), were major gainers from Sensex pack.
India's largest truckmaker by sales Tata Motors rose 4.91% to Rs 416.30. The company today reported 30.13% fall in net profit to Rs 326.11 crore on 17.88% rise in total income to Rs 7,244.05 crore in Q1 June 2008 over Q1 June 2007.
India's largest tractor maker by sales Mahindra & Mahindra rose 2.66% to Rs 513.50. The company's net profit fell 16.66% to Rs 159.3 crore on 25.99% rise in total income to Rs 3331.8 crore in Q1 June 2008 over Q1 June 2007. The company's board approved acquisition of all the business assets of Kinetic Motor Company (KMCL), a two-wheeler company for Rs 110 crore.
Power generation major NTPC fell 4.23% to Rs 170.90. On Tuesday, 29 July 2008, NTPC reported 27.1% fall in net to Rs 1726.53 crore on 5.87% growth in total income to Rs 10256.70 crore in Q1 June 2008 over Q1 June 2007.
India's largest motorbike maker by sales Hero Honda Motor rose 6.27% to Rs 782.30. On Tuesday, the company reported 44% surge in profit after tax to Rs 272.87 crore on 16% growth in turnover to Rs 2890.25 crore.
Birla Cotsyn clocked the highest volume of 5.2 crore shares on BSE. Reliance Natural Resources (3.88 crore shares), IFCI (94.94 lakh shares), Ispat Industries (91.81 lakh shares), Reliance Petroleum (82.98 lakh shares) were the other volume toppers in that order.
Reliance Natural Resources clocked the highest turnover of Rs 374.84 crore on BSE. Reliance Capital (Rs 233.86 crore), Larsen & Toubro (Rs 178.11 crore), Reliance Industries (Rs 166.52 crore) and Housing Development Finance Corporation (Rs 145.42 crore) were the other turnover toppers in that order.
US stocks surged overnight, benefiting from a steep drop in oil prices and an unexpected rise in US consumer confidence after Merrill Lynch's announcement of yet another write-down and capital-raising exercise, raising hopes that the turning point in the year-long credit crisis was close. The Dow Jones Industrial Average rose 266.48 points, or 2.39 per cent, at 11,397.56, the Standard & Poor's 500 Index gained 28.82 points, or 2.33 per cent, at 1,263.19 and the Nasdaq Composite Index rose 55.40 points, or 2.45 per cent, at 2,319.62.
Asian markets were trading higher today, 30 July 2008. Japan's Nikkei, Hong Kong's Hang Seng, Taiwan's Taiwan Weighted, Singapore's Straits Times and South Korea's Seoul Composite were up by between 0.67% to 2.04%. China's Shanghai Composite fell 0.7%.
European markets edged higher. France's CAC 40, Germany's DAX and UK's FTSE 100 were up by between 0.63% to 1.29%.
In the near term, the domestic bourses may remain volatile ahead of expiry of futures & options contracts for July 2008 series on Thursday, 31 July 2008. As per reports, marketwide rollover of positions from July 2008 series to August 2008 series stood at 44%, while that of Nifty was 48%, as of Tuesday 29 July 2008.
The market had slumped yesterday, 29 July 2008 after the Reserve Bank of India (RBI) raised cash reserve ratio (CRR) by 25 basis points and repo rate by 50 basis points at quarterly review of the monetary policy. The 30 share BSE Sensex plunged 557.57 points or 3.89% at 13,791.54 and the broader based S&P CNX Nifty was down 142.25 points or 3.28% at 4,189.85, on that day. The tone of the monetary policy was extremely hawkish.
No comments:
Post a Comment