Holding firm!
The market held firm in afternoon trade. At 13:39 IST, Sensex was up 111 points at 13,493.01. It had slipped to an intra-day low of 13232.56, while its intra-day high is at 13568.09. It has swung sharp 335 points for the day.
The market is witnessing high volatility today, swinging wildly either ways.
The total turnover on BSE amounted to Rs 2136 crore.
The market breadth turned positive on BSE, after the initial weakness as buying resumed for small-cap and mid-cap stocks. On BSE with 1250 shares advancing as compared to 1135 that declined. 108 remained unchanged.
Among the Sensex pack, 20 advanced while the rest declined.
Tata Steel was the top gainer, up 2.34% to Rs 465.20 on 8.28 lakh shares. It recovered from low of Rs 450.10. The stock advanced after Britain's takeover watchdog set a 30 January deadline on Tuesday for India's Tata Steel and Brazil's CSN to make revised offers for Anglo-Dutch steelmaker Corus Group.
PSU oil exploration major ONGC advanced 2.20% to Rs 865.15 on 3.08 lakh shares.
ACC (up 2.06% to Rs 1038.75), ITC (up 1.72% to Rs 171.25) and Infosys (up 1.57% to Rs 2189) followed.
PSU engineering company Bhel recovered smartly from a low of Rs 2232 and was up 1.05% to Rs 2310 on 2.38 lakh shares. It had lost close to 10% in the past two trading sessions.
HDFC Bank was the top loser, down 1.72% to Rs 1020 on 43851 shares. It had hit a high of Rs 1047 in early trade
Hero Honda (down 1.32% to Rs 742.90), Tata Motors (down 1.14% to Rs 853) and HLL (down 1% to Rs 222.50) edged lower.
Index heavyweight Reliance Industries (RIL) recovered from low of Rs 1231.15 and was now up 0.32% to Rs 1257.05 on 7.80 lakh shares.
Four Soft jumped 6.53% to Rs 72.60 on high volumes of 11.24 lakh shares on reports that it has acquired Denmark's Transaciom Holdings for $10 million.
Peninsula Land dropped 5.30% to Rs 647 after the company priced placement of shares with qualified institutional buyers at Rs 600 a share, a discount of 12% to Tuesday's closing price of Rs 683.05.
Volatility is expected to remain high in the next few days ahead of expiry of December 2006 derivatives contracts next Thursday (28 January).
The near term trigger for domestic bourses is Q3 December 2006 results. Market men expect December 2006 quarter to be another strong quarter in terms of earnings growth. The Q3 results would start trickling in from about 12 January 2007.
Thailand will exclude equities investments from a central bank measure aimed at curbing speculation in the Baht, Thailand’s Finance Minister Pridiyathorn Devakula said on Tuesday after the stock market suffered its worst fall in 16 years. The news sent Thailand’s stock market up 8.8% at the open on Wednesday.
All the Asian markets were trading with gains. The Nikkei share average topped 17,000 for the first time in seven months on Wednesday as shares of Toyota Motor Corp. and other exporters gained after the yen fell to a record low against the euro and neared a one-month low against the dollar. The Nikkei 225 index was up 1.40% at 17,011.04, breaking above 17,000 for the first time since 11 May.
Hang Seng index was up 1.23% to 19,198.05
FIIs were net sellers in three out of four trading sessions from 13 December to 18 December and that weighed on market sentiment. Their net outflow was Rs 182.70 crore on 18 December. As per provisional data, FIIs were net sellers to the tune of Rs 823 crore on Tuesday (19 December). They were also net sellers to the tune of Rs 831 crore in index-based futures on that day.
The Dow Jones industrial average finished at a record high on Tuesday, spurred by a rise in oil prices that boosted shares of Exxon Mobil Corp. But the Nasdaq fell as technology stocks dropped after disappointing financial results from industry bellwether Oracle Corp. The Dow Jones industrial average rose 30.05 points, or 0.24%, to end at a record 12,471.32. The Standard & Poor`s 500 Index advanced 3.07 points, or 0.22%, to finish at 1,425.55. But the Nasdaq Composite Index slipped 6.02 points, or 0.25%, to close at 2,429.55.
US crude oil for January delivery rose 94 cents, or 1.5 percent, to settle at $63.15 a barrel on the New York Mercantile Exchange on Tuesday. The rise in oil prices was attributed to expectations that US crude inventories fell in the past week due to shipping delays along the coast of the Gulf of Mexico. US oil inventory data will be released on Wednesday
The market is witnessing high volatility today, swinging wildly either ways.
The total turnover on BSE amounted to Rs 2136 crore.
The market breadth turned positive on BSE, after the initial weakness as buying resumed for small-cap and mid-cap stocks. On BSE with 1250 shares advancing as compared to 1135 that declined. 108 remained unchanged.
Among the Sensex pack, 20 advanced while the rest declined.
Tata Steel was the top gainer, up 2.34% to Rs 465.20 on 8.28 lakh shares. It recovered from low of Rs 450.10. The stock advanced after Britain's takeover watchdog set a 30 January deadline on Tuesday for India's Tata Steel and Brazil's CSN to make revised offers for Anglo-Dutch steelmaker Corus Group.
PSU oil exploration major ONGC advanced 2.20% to Rs 865.15 on 3.08 lakh shares.
ACC (up 2.06% to Rs 1038.75), ITC (up 1.72% to Rs 171.25) and Infosys (up 1.57% to Rs 2189) followed.
PSU engineering company Bhel recovered smartly from a low of Rs 2232 and was up 1.05% to Rs 2310 on 2.38 lakh shares. It had lost close to 10% in the past two trading sessions.
HDFC Bank was the top loser, down 1.72% to Rs 1020 on 43851 shares. It had hit a high of Rs 1047 in early trade
Hero Honda (down 1.32% to Rs 742.90), Tata Motors (down 1.14% to Rs 853) and HLL (down 1% to Rs 222.50) edged lower.
Index heavyweight Reliance Industries (RIL) recovered from low of Rs 1231.15 and was now up 0.32% to Rs 1257.05 on 7.80 lakh shares.
Four Soft jumped 6.53% to Rs 72.60 on high volumes of 11.24 lakh shares on reports that it has acquired Denmark's Transaciom Holdings for $10 million.
Peninsula Land dropped 5.30% to Rs 647 after the company priced placement of shares with qualified institutional buyers at Rs 600 a share, a discount of 12% to Tuesday's closing price of Rs 683.05.
Volatility is expected to remain high in the next few days ahead of expiry of December 2006 derivatives contracts next Thursday (28 January).
The near term trigger for domestic bourses is Q3 December 2006 results. Market men expect December 2006 quarter to be another strong quarter in terms of earnings growth. The Q3 results would start trickling in from about 12 January 2007.
Thailand will exclude equities investments from a central bank measure aimed at curbing speculation in the Baht, Thailand’s Finance Minister Pridiyathorn Devakula said on Tuesday after the stock market suffered its worst fall in 16 years. The news sent Thailand’s stock market up 8.8% at the open on Wednesday.
All the Asian markets were trading with gains. The Nikkei share average topped 17,000 for the first time in seven months on Wednesday as shares of Toyota Motor Corp. and other exporters gained after the yen fell to a record low against the euro and neared a one-month low against the dollar. The Nikkei 225 index was up 1.40% at 17,011.04, breaking above 17,000 for the first time since 11 May.
Hang Seng index was up 1.23% to 19,198.05
FIIs were net sellers in three out of four trading sessions from 13 December to 18 December and that weighed on market sentiment. Their net outflow was Rs 182.70 crore on 18 December. As per provisional data, FIIs were net sellers to the tune of Rs 823 crore on Tuesday (19 December). They were also net sellers to the tune of Rs 831 crore in index-based futures on that day.
The Dow Jones industrial average finished at a record high on Tuesday, spurred by a rise in oil prices that boosted shares of Exxon Mobil Corp. But the Nasdaq fell as technology stocks dropped after disappointing financial results from industry bellwether Oracle Corp. The Dow Jones industrial average rose 30.05 points, or 0.24%, to end at a record 12,471.32. The Standard & Poor`s 500 Index advanced 3.07 points, or 0.22%, to finish at 1,425.55. But the Nasdaq Composite Index slipped 6.02 points, or 0.25%, to close at 2,429.55.
US crude oil for January delivery rose 94 cents, or 1.5 percent, to settle at $63.15 a barrel on the New York Mercantile Exchange on Tuesday. The rise in oil prices was attributed to expectations that US crude inventories fell in the past week due to shipping delays along the coast of the Gulf of Mexico. US oil inventory data will be released on Wednesday
posted by SY at 2:53 PM
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