Sensex snaps losing streak; ends up 17.05 pts

Markets ended on a flat note by snapping six day losing streak. Indian equities bounced back on Thursday snapping earlier losses. It opened on a positive note, tracking good global cues and later turned volatile in the second half. The expiry of derivative contracts added to the volatility.
Finally, it closed in the green touching a high of 16,524.69 and low of 16,182.14. Opening of Eropean market lifted the market sentiment. NSE F&O turnover hits all time high today.
At the close, the benchmark 30-share index, BSE Sensex gained 17.05 or 0.10% at 16,306.87 with 12 components registering rise. Meanwhile, the broad based NSE Nifty went up by 14.15 or 0.29% at 4,867.25 with 27 components registering rise.
Sensex Movers
Reliance Industries contributed rise of 24.58 points in the Sensex. It was followed by Tata Steel (24.53 points), Housing Development Finance Corporation (14.01 points), Wipro (7.45 points) and State Bank Of India (6.31 points).
However, Larsen & Toubro contributed fall of 20.59 points in the Sensex. It was followed by Bharti Airtel (13 points), Hindustan Unilever (5.28 points), Oil & Natural Gas Corporation (4.84 points) and I T C (4.34 points).
Biggest gainers in the 30-share index were Tata Steel (4.81%), Wipro (2.82%), D L F (2.37%), Sun Pharmaceutical Industries (2.07%), Housing Development Finance Corporation (1.76%), and Grasim Industries (1.50%).
On the other hand, Bharti Airtel (2.39%), Reliance Communications (2.03%), Larsen & Toubro (1.97%), Jaiprakash Associates (1.67%), Hindustan Unilever (1.48%), and ACC (1.42%) were the major losers in the Sensex.
Mid & Small-cap Space
The BSE Midcap settled higher 15.35 points or -0.17% at 6,444.51 however the Bse Smallcap dropped 0.00 points or 0.00% at 8,134.89 at the closing.
The major gainers in the BSE Midcap were A I A Engineering (5.23%), Ackruti City (2.01%), Allcargo Global Logistics (0.89%), Allahabad Bank (0.56%) and Alfa-Laval (India) (0.55%).
The major losers in the BSE Smallcap were Action Construction Equipment (1.61%), Advanta India (1.51%), Ador Welding (1.2%), A B G Shipyard (0.98%) and Aarti Industries (0.53%).
The BSE Smallcap index was at 8134.89 down by 13.92 points or by 0.17%. The major losers were Action Construction Equipment (1.61%), Advanta India (1.51%), Ador Welding (1.2%), A B G Shipyard (0.98%) and Aarti Industries (0.53%).
Sectors in Limelight
The Realty index was at 3,411.56, up by 54.31 points or by 1.62%. The major gainers were D L F (2.37%), Housing Development and Infrastructure (2.3%), Peninsula Land (2.08%), Ackruti City (2.01%) and Mahindra Lifespace Developers (0.46%).
The HC index was at 4,752.03, up by 61.74 points or by 1.32%. The major gainers were Dr Reddy`S Laboratories (4.54%), Apollo Hospitals Enterprise (2.14%), Cipla (1.8%), Glaxo SmithKline Pharmaceuticals (0.96%) and Biocon (0.51%).
The Metal index was at 16,215.58, up by 165.01 points or by 1.03%. The major gainers were Gujarat N R E Coke (5.98%), JSW Steel (2.89%), NMDC (2.11%), Ispat Industries (1.83%) and Jindal Steel & Power (0.94%).
On the other hand, the Capital Goods index was at 12,961.17, down by 39.99 points or by 0.31%. The major losers were Alstom Projects India (4.05%), Bharat Bijlee (2.09%), BEML (1.9%), Bharat Heavy Electricals (0.4%) and Elecon Engineering Company (0.13%).
Market Breadth
Market breadth was negative with 1,124 advances against 1,749 declines.
Value and Volume Toppers
Aban Offshore topped the value chart on the BSE with a turnover of Rs. 2,735.77 million. It was followed by Tata Steel (Rs. 2,023.41 million), State Bank Of India (Rs. 1,406.31 million) and Jai Corp (Rs. 1,283.33 million).
The volume chart was led by Unitech with trades of over 8.49 million shares. It was followed by Ispat Industries (8.44 million), Suzlon Energy (7.03 million) and Rashtriya Chemicals & Fertilizers (6.56 million).
The Reserve Bank of India (RBI) monetary policy is scheduled tomorrow, Jan. 29, 2010 at 12 hours IST.
Inflation
Cooling food prices since last three weeks bounced back this week to stand at 17.40% for the for the week ended Jan. 16, 2010 as against 16.81% in the previous week. Index for primary articles increased further to 14.66% as against 13.93% for the week ago.
Results
Tata Steel, India`s largest integrated private sector steel company, recorded 2.55 times jump in its net profit for the quarter ended Dec. 31, 2009. Its net profit stood at Rs 11,917.5 million for the quarter ending on Dec.31, 2009 against Rs 4,662.4 million for the quarter ending on Dec. 31, 2009.
Canara Bank today reported a rise of 50.05% in the net profit for quarter ended Dec.31, 2009. During the quarter, the profit of the company was at Rs 10,525.80 million as compared to Rs 7,015 million for the quarter ended Dec. 31, 2008. Total income for the quarter was at Rs 54,691 million, a rise of 1.60% over the prior year period
Lanco Infratech on consolidated basis reported a rise of 33.77% in net profit for the quarter ended December 2009. The company posted a net profit to Rs 1,068.40 million for the quarter ended Dec. 31, 2009 as against Rs 798.70 million for the same period last year.
Consolidated total Income has declined by 11.24% to Rs 16,329.70 million for the quarter ended Dec. 31, 2009 from Rs 18,397.50 million for the quarter ended Dec. 31, 2008.