Volatility takes centrestage
Sensex managed to end with marginal gain after witnessing high volatility throughout the day’s trading session, thus extending its winning streak for the sixth straight day.
It rose 11.35 points, at 13,937.65, an all time closing high. It had opened firm at 13,951.09, and surged to an all-time high of 14,035.30. Its intra-day low was at 13,847.67. It witnessed high volatility, oscillating 187.63 points between the day’s high and low.
Sensex’ previous all-time high was 14,028.47, touched on Tuesday (5 December).The S&P CNX Nifty was up marginally by 0.20 points to 4015.95, also an all time closing high.
Sensex advanced for the sixth consecutive session. From 13601.95 on 28 November, the Sensex garnered 335.70 points or 2.46%.The total turnover on BSE amounted to Rs 4545.28 crore as compared to Rs 4779 crore on Tuesday (5 December)
The market-breadth was weak on BSE, with close to 1.75 losers for every gainer. 1,642 shares declined whereas 929 shares advanced. 57 shares remained unchanged. The BSE Small-Cap index lost 60 points to 6,739.73 while the BSE Mid-Cap index settled at 5,776.68, down 52 points.Among the 30-Sensex pack, 16 advanced while the rest declined.
Reliance Energy was the top loser, down 2.34% to Rs 540.30, on a volume of 1.31 lakh shares. It witnessed high volatility, and moved in a broad range of Rs 478 – 557.95.
ACC (down 1.51% to Rs 1147), HDFC (down 2.10% to Rs 1570.50) and Cipla (down 1.43% to Rs 249) were other others from Sensex pack.
Index heavyweight Reliance Industries (RIL) slipped 0.23% to Rs 1277.10 on 9.65 lakh shares. As per reports, RIL has bagged 2 onshore oil blocks in Yemen.
Ranbaxy Laboratories was the top gainer, up 1.61% to Rs 391.20, on a volume of 2.70 lakh shares.
ICICI Bank rose 1.23% to Rs 873, after the private sector bank on Tuesday said offices had been opened in Bangkok, Jakarta and Kuala Lumpur, to capitalise on a rise in cross-border deals. With the new offices, ICICI Bank will have a presence in 17 countries.
Bharti Airtel advanced 1.13% to Rs 646. Reports state that Vodafone Group Plc is looking to hike its stake in the telecom firm.
Tata Consultancy Services (TCS) rose 0.58% to Rs 1195 on reports that it has won a five-year outsourcing contract from Britain's United Biscuits. Reports add that the multi-million-pound deal involves IT support services such as application support, business analysis services and strategic IT programmes for Europe's second-largest biscuits maker.
Satyam Computer rose 0.40% to Rs 463, on 6.74 lakh shares, following a 3.4% surge in ADR on Tuesday to $24.42. The stock came off an intra-day high of Rs 469, reached in opening trade.
Parsvnath Developers was the top-traded counter on BSE with a total turnover of Rs 194.86 crore, followed by Atlanta (Rs 177.93 crore) and Reliance Industries (Rs 124.01 crore).
Auto stocks witnessed profit booking. Bajaj Auto (down 0.46% to Rs 2710), TVS Motors (down 3.58% to Rs 94.20), M&M (down 0.80% to Rs 837) and Maruti Udyog (down 0.56% to Rs 944) declined.
Gateway Distriparks lost 0.24% to Rs 185.25 after surging to a high of Rs 197.20, on reports that it has emerged as a top bidder for a 15-year operations and management contract of a Punjab Government owned container freight station (CFS), which is situated close to Jawaharal Nehru Port Thrust (JNPT), Navi Mumbai.
SRF lost 2.31% to Rs 207.10, after NSE barred further F&O positions in the stock as 95% of market wide limit has been reached.
Aksh Optifibre gained 2.77% to Rs 48.25 after the telecom equipment maker said it plans to raise $30 million through domestic or international issues of debt or equity.
Logix Microsystems rose 0.46% to Rs 306 ahead of its board meet today to consider increasing FII investment limit from 49% to 74% and GDR/ ADR/FCCB issue.
Yes Bank jumped 5.30% to Rs 130 after the bank entered microfinance business in a technical tie-up with Accion International.
Ispat Industries advanced 7.24% to Rs 12 after it entered into a memorandum of understanding (MOU) with Government of Maharashtra for expansion of capacity for manufacture of steel at its integrated steel complex located at Dolvi, Maharashtra. The proposed expansion will result in increase in steel making capacity from the existing 3 million tons per annum to 5 million tons per annum. The proposed expansion in steel making capacity shall entail an investment of approximately Rs 2,000 crore.
Shalimar Paints surged 8.61% to Rs 232 on media reports that there are rumours of promoters scouting buyers for the company and a deal may be announced shortly.
Adani Enterprises surged 5% to Rs 221.45. A large block deal of 50 lakh shares was executed in the scrip on NSE today at Rs 208.70 per share. Total volumes in the stock on BSE totaled 24.6 lakh shares. As per recent reports, Adani Enterprises is likely to sell its retail business to Reliance Industries with a view to focus on its core business of exports.
The Nikkei average rose 0.65% or 105.52 points at 16,371.28 on Wednesday with investors buying Bridgestone Corp. on news it would buy U.S. firm Bandag Inc.Hang Seng index rose 0.43% or 82.17 points to 19026.36
Oil prices were nearly flat Wednesday ahead of the release of weekly US petroleum inventory data. Light, sweet crude for January delivery rose 9 cents to $62.52 a barrel on the New York Mercantile Exchange.
As per provisional data, FIIs were net buyers to the tune of Rs 302 crore on Tuesday (5 December), the day when the Sensex rose 63 points. The cumulative FII-inflow has reached $8.3 billion in 2006, compared to a record inflow of $10.7 billion in 2005.
US stocks rose on Tuesday as a report showing unexpected strength in the key services sector suggested earnings growth will weather the housing slowdown. The Dow Jones industrial average rose 47.75 points, or 0.39%, to end at 12,331.60. The Standard & Poor's 500 Index was up 5.64 points, or 0.40%, at 1,414.76. The Nasdaq Composite Index was up 3.99 points, or 0.16%, to close at 2,452.38.
It rose 11.35 points, at 13,937.65, an all time closing high. It had opened firm at 13,951.09, and surged to an all-time high of 14,035.30. Its intra-day low was at 13,847.67. It witnessed high volatility, oscillating 187.63 points between the day’s high and low.
Sensex’ previous all-time high was 14,028.47, touched on Tuesday (5 December).The S&P CNX Nifty was up marginally by 0.20 points to 4015.95, also an all time closing high.
Sensex advanced for the sixth consecutive session. From 13601.95 on 28 November, the Sensex garnered 335.70 points or 2.46%.The total turnover on BSE amounted to Rs 4545.28 crore as compared to Rs 4779 crore on Tuesday (5 December)
The market-breadth was weak on BSE, with close to 1.75 losers for every gainer. 1,642 shares declined whereas 929 shares advanced. 57 shares remained unchanged. The BSE Small-Cap index lost 60 points to 6,739.73 while the BSE Mid-Cap index settled at 5,776.68, down 52 points.Among the 30-Sensex pack, 16 advanced while the rest declined.
Reliance Energy was the top loser, down 2.34% to Rs 540.30, on a volume of 1.31 lakh shares. It witnessed high volatility, and moved in a broad range of Rs 478 – 557.95.
ACC (down 1.51% to Rs 1147), HDFC (down 2.10% to Rs 1570.50) and Cipla (down 1.43% to Rs 249) were other others from Sensex pack.
Index heavyweight Reliance Industries (RIL) slipped 0.23% to Rs 1277.10 on 9.65 lakh shares. As per reports, RIL has bagged 2 onshore oil blocks in Yemen.
Ranbaxy Laboratories was the top gainer, up 1.61% to Rs 391.20, on a volume of 2.70 lakh shares.
ICICI Bank rose 1.23% to Rs 873, after the private sector bank on Tuesday said offices had been opened in Bangkok, Jakarta and Kuala Lumpur, to capitalise on a rise in cross-border deals. With the new offices, ICICI Bank will have a presence in 17 countries.
Bharti Airtel advanced 1.13% to Rs 646. Reports state that Vodafone Group Plc is looking to hike its stake in the telecom firm.
Tata Consultancy Services (TCS) rose 0.58% to Rs 1195 on reports that it has won a five-year outsourcing contract from Britain's United Biscuits. Reports add that the multi-million-pound deal involves IT support services such as application support, business analysis services and strategic IT programmes for Europe's second-largest biscuits maker.
Satyam Computer rose 0.40% to Rs 463, on 6.74 lakh shares, following a 3.4% surge in ADR on Tuesday to $24.42. The stock came off an intra-day high of Rs 469, reached in opening trade.
Parsvnath Developers was the top-traded counter on BSE with a total turnover of Rs 194.86 crore, followed by Atlanta (Rs 177.93 crore) and Reliance Industries (Rs 124.01 crore).
Auto stocks witnessed profit booking. Bajaj Auto (down 0.46% to Rs 2710), TVS Motors (down 3.58% to Rs 94.20), M&M (down 0.80% to Rs 837) and Maruti Udyog (down 0.56% to Rs 944) declined.
Gateway Distriparks lost 0.24% to Rs 185.25 after surging to a high of Rs 197.20, on reports that it has emerged as a top bidder for a 15-year operations and management contract of a Punjab Government owned container freight station (CFS), which is situated close to Jawaharal Nehru Port Thrust (JNPT), Navi Mumbai.
SRF lost 2.31% to Rs 207.10, after NSE barred further F&O positions in the stock as 95% of market wide limit has been reached.
Aksh Optifibre gained 2.77% to Rs 48.25 after the telecom equipment maker said it plans to raise $30 million through domestic or international issues of debt or equity.
Logix Microsystems rose 0.46% to Rs 306 ahead of its board meet today to consider increasing FII investment limit from 49% to 74% and GDR/ ADR/FCCB issue.
Yes Bank jumped 5.30% to Rs 130 after the bank entered microfinance business in a technical tie-up with Accion International.
Ispat Industries advanced 7.24% to Rs 12 after it entered into a memorandum of understanding (MOU) with Government of Maharashtra for expansion of capacity for manufacture of steel at its integrated steel complex located at Dolvi, Maharashtra. The proposed expansion will result in increase in steel making capacity from the existing 3 million tons per annum to 5 million tons per annum. The proposed expansion in steel making capacity shall entail an investment of approximately Rs 2,000 crore.
Shalimar Paints surged 8.61% to Rs 232 on media reports that there are rumours of promoters scouting buyers for the company and a deal may be announced shortly.
Adani Enterprises surged 5% to Rs 221.45. A large block deal of 50 lakh shares was executed in the scrip on NSE today at Rs 208.70 per share. Total volumes in the stock on BSE totaled 24.6 lakh shares. As per recent reports, Adani Enterprises is likely to sell its retail business to Reliance Industries with a view to focus on its core business of exports.
The Nikkei average rose 0.65% or 105.52 points at 16,371.28 on Wednesday with investors buying Bridgestone Corp. on news it would buy U.S. firm Bandag Inc.Hang Seng index rose 0.43% or 82.17 points to 19026.36
Oil prices were nearly flat Wednesday ahead of the release of weekly US petroleum inventory data. Light, sweet crude for January delivery rose 9 cents to $62.52 a barrel on the New York Mercantile Exchange.
As per provisional data, FIIs were net buyers to the tune of Rs 302 crore on Tuesday (5 December), the day when the Sensex rose 63 points. The cumulative FII-inflow has reached $8.3 billion in 2006, compared to a record inflow of $10.7 billion in 2005.
US stocks rose on Tuesday as a report showing unexpected strength in the key services sector suggested earnings growth will weather the housing slowdown. The Dow Jones industrial average rose 47.75 points, or 0.39%, to end at 12,331.60. The Standard & Poor's 500 Index was up 5.64 points, or 0.40%, at 1,414.76. The Nasdaq Composite Index was up 3.99 points, or 0.16%, to close at 2,452.38.
posted by SY at 6:15 PM
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