Sensex settles above 14200, Nifty above 4100
The market edged higher amid mixed trend in pivotals. Volatility was witnessed in the run up to the expiry of January 2007 derivatives contracts this Thursday (25 January 2007).
The 30-share BSE Sensex advanced 26.53 points or 0.19% to 14,209.24. The S&P CNX Nifty gained 12.30 points or 0.3% to settle at 4,102.45. Firm global bourses offered support to domestic ones.
The market was volatile. After an initial 76.36 points surge, to 14,259.07, the Sensex soon lost steam. The weakness accentuated by early-afternoon, when the BSE benchmark index lost as many as 70.96 points, to 14,111.75, at 12:22 IST.
The market-breadth was positive. Against 1,381 shares rising on BSE, 1,283 declined. Just 52 shares were unchanged. Gainers outpaced losers by a ratio of 1.07:1. The breadth weakened in the latter part of trading. In mid-morning trade, it was stronger at 1.5:1.
The BSE clocked a turnover of Rs 3681 crore, lower than Friday’s Rs 4145 crore.
The Q3 results announced thus far have been strong. Results from IT, cement firms and pharma pivotals Ranbaxy and Dr Reddy’s Lab have been robust. The activity on the bourses will be stock specific till the end of the results season.
Meanwhile, a rise in inflation has added to expectations of an interest rate increase at Reserve Bank of India (RBI)’s 31 January 2007 policy review. The wholesale price index rose 6.12% in the 12 months to 6 January. It was the highest inflation rate since 25 December 2004.
In today’s trade, car maker Maruti Udyog edged up amid post-results' volatility. The stock rose nearly 3% to Rs 938, after dipping to a low of Rs 893.90, by 13:12 IST, soon after Q3 results hit the market. A strong 3.5 lakh shares changed hands in the counter on BSE. MUL reported 11% growth in net profit in December 2006 quarter, to Rs 376.40 crore (Rs 339.10 crore). The company's profit-before-tax in December 2006 quarter, was arrived at after deducting losses of the erstwhile wholly-owned subsidiary, Maruti Suzuki Automobiles India (MSAIL), for April - December 2006 period, amounting to Rs 54.61. MSAIL was merged into MUL.
Other auto shares, too, recovered taking cue from the upmove in MUL. Bajaj Auto rose 2% to Rs 2785, and Tata Motors gained 1.9% to Rs 968.80. Tata Motors said on Sunday it had initiated construction of the small car project at Singur, West Bengal.
Bhel gained 2.3% to Rs 2322, amid expectations of strong-December 2006 quarter results. The company unveils numbers on 25 January 2007.
Software bellwether Infosys rose 2% to Rs 2248.50, and IT major TCS advanced1.1% to Rs 1312.
Cigarette major ITC rose 2.5% to Rs 180.
Reliance Industries (RIL) lost 0.5% to Rs 1372.35. RIL on Monday said it had no plans to either agree a strategic partner for developing its Krishna Godavari basin deepwater block, or hive off the block into a separate company. A newspaper had reported that RIL may spin off its oil and gas fields off the east coast into a separate unit, and offer a strategic stake to a foreign partner such as Chevron Corporation, a newspaper reported on Monday.
Satyam Computer shed 3% to Rs 473. At the time of announcing Q3 results on Friday, Satyam cut FY 2007 revenue guidance. It slightly raised upward the FY 2007 EPS guidance, to Rs 20.90, from earlier guidance of Rs 20.73 - 20.81.
Bharti Airtel (BAL) lost 1% to Rs 675.25 in volatile trade. The company is seen reporting a surge in net profit in December 2006 quarter on the back of strong growth in subscriptions. Four brokerages expect 87.6 - 99.2% growth in BAL’s consolidated net profit as per US GAAP, between Rs 1022.80 crore and Rs 1086.30 crore, from Rs 545.30 core in Q3 December 2005. All four expect 59.5 - 66.1% growth in BAL’s consolidated US GAAP revenue, between Rs 4824.60 crore and Rs 5026.60 crore, from Rs 3025.60 crore in Q3 December 2005. It unveils December 2006 quarter results tomorrow.
Ranbaxy Laboratories lost 1.6% to Rs 407.50. At the time of announcing Q3 results last Thursday, Ranbaxy forecast 15% topline growth and 16% EBIDTA margins for the year-2007 on a consolidated basis.
ICICI Bank lost 1% to Rs 975, even while reporting stronger-than-expected Q3 results on Saturday. ICICI Bank reported 42% surge in net profit in the December 2006 quarter, to Rs 910 crore (Rs 640 crore). Its net interest income (NII) rose 32% to Rs 1709 crore, from Rs 1296 crore in Q3 December 2005.
Cadila Healthcare rose 3% to Rs 360. It reported 22% growth in net profit in December 2006 quarter to Rs 52.50 crore (Rs 42.90 crore).
JSW Steel lost nearly 1% to Rs 419. The company today reported a surge in profit after tax in December 2006 quarter to Rs 362.15 crore from Rs 139.20 crore in December 2005 quarter.
Zee Entertainment Enterprises was up 2% to Rs 301. The company posted a surge in net profit in December 2006 quarter, to Rs 95.80 crore (Rs 33.60 crore). Total income went up to Rs 417.70 crore, from Rs 377.70 crore.
India Cements dropped 2.3% to Rs 242. The company posted a surge in net profit in December 2006 quarter, to Rs 79.78 crore (Rs 7.22 crore).
Orchid Chemicals gained 4% to Rs 216.60 after the company said its betalactam bulk drug making unit located in Maharashtra had received the UK regulatory approval. The approval for this plant, from UK's Medicines and Healthcare products Regulatory Agency, would help Orchid market its betalactam product, Piperacillin-Tazobactam in the European market, Orchid said in a statement.
ING Vysya Bank rose 15.2% to Rs 196.80 after its net profit rose 195 percent in the December 2006 quarter to Rs 14.33 crore.
Nagarjuna Fertilizers & Chemicals fell 10.5% to Rs 15.48 after its December 2006 quarter net profit fell 53%
Jewellery maker Flawless Diamond rose to its daily maximum limit of 5 percent to Rs 87.20 after its October-December net profit more than doubled to Rs 2.86 crore
Power cables maker Torrent Cables was up by its maximum daily limit of 20 percent to 157.90 rupees after it reported 65% surge in net profit in December 2006 quarter to Rs 7.02 crore.
Jet Airways rose 7 percent to Rs 774.20 after the largest domestic carrier returned to profit after two successive quarters of losses. It posted a net profit of Rs 40.04 crore in December 2006 quarter, a fall of 34% on year on year basis.
European markets were in the green in early trade today. Key benchmark indices in London and France were up 0.1 - 0.4%. Asian stocks edged higher on Monday, following a recovery in oil and metal prices. Key benchmark indices in Hong Kong, Japan, South Korea, Singapore and Taiwan were up between 0.03 - 2.3%.
FIIs have resumed buying after their heavy outflows earlier this month. Their net inflow was Rs 111.90 crore on Thursday (18 January). FIIs were net buyers in five out of six trading sessions, from 11 January to 18 January. As per provisional data, FIIs were net buyers to the tune of Rs 125 crore on Friday (19 January).
FIIs were net sellers to the tune of Rs 553 crore in index-based futures on 19 January. They were net sellers to the tune of Rs 91 crore in individual stock futures that day.
The 30-share BSE Sensex advanced 26.53 points or 0.19% to 14,209.24. The S&P CNX Nifty gained 12.30 points or 0.3% to settle at 4,102.45. Firm global bourses offered support to domestic ones.
The market was volatile. After an initial 76.36 points surge, to 14,259.07, the Sensex soon lost steam. The weakness accentuated by early-afternoon, when the BSE benchmark index lost as many as 70.96 points, to 14,111.75, at 12:22 IST.
The market-breadth was positive. Against 1,381 shares rising on BSE, 1,283 declined. Just 52 shares were unchanged. Gainers outpaced losers by a ratio of 1.07:1. The breadth weakened in the latter part of trading. In mid-morning trade, it was stronger at 1.5:1.
The BSE clocked a turnover of Rs 3681 crore, lower than Friday’s Rs 4145 crore.
The Q3 results announced thus far have been strong. Results from IT, cement firms and pharma pivotals Ranbaxy and Dr Reddy’s Lab have been robust. The activity on the bourses will be stock specific till the end of the results season.
Meanwhile, a rise in inflation has added to expectations of an interest rate increase at Reserve Bank of India (RBI)’s 31 January 2007 policy review. The wholesale price index rose 6.12% in the 12 months to 6 January. It was the highest inflation rate since 25 December 2004.
In today’s trade, car maker Maruti Udyog edged up amid post-results' volatility. The stock rose nearly 3% to Rs 938, after dipping to a low of Rs 893.90, by 13:12 IST, soon after Q3 results hit the market. A strong 3.5 lakh shares changed hands in the counter on BSE. MUL reported 11% growth in net profit in December 2006 quarter, to Rs 376.40 crore (Rs 339.10 crore). The company's profit-before-tax in December 2006 quarter, was arrived at after deducting losses of the erstwhile wholly-owned subsidiary, Maruti Suzuki Automobiles India (MSAIL), for April - December 2006 period, amounting to Rs 54.61. MSAIL was merged into MUL.
Other auto shares, too, recovered taking cue from the upmove in MUL. Bajaj Auto rose 2% to Rs 2785, and Tata Motors gained 1.9% to Rs 968.80. Tata Motors said on Sunday it had initiated construction of the small car project at Singur, West Bengal.
Bhel gained 2.3% to Rs 2322, amid expectations of strong-December 2006 quarter results. The company unveils numbers on 25 January 2007.
Software bellwether Infosys rose 2% to Rs 2248.50, and IT major TCS advanced1.1% to Rs 1312.
Cigarette major ITC rose 2.5% to Rs 180.
Reliance Industries (RIL) lost 0.5% to Rs 1372.35. RIL on Monday said it had no plans to either agree a strategic partner for developing its Krishna Godavari basin deepwater block, or hive off the block into a separate company. A newspaper had reported that RIL may spin off its oil and gas fields off the east coast into a separate unit, and offer a strategic stake to a foreign partner such as Chevron Corporation, a newspaper reported on Monday.
Satyam Computer shed 3% to Rs 473. At the time of announcing Q3 results on Friday, Satyam cut FY 2007 revenue guidance. It slightly raised upward the FY 2007 EPS guidance, to Rs 20.90, from earlier guidance of Rs 20.73 - 20.81.
Bharti Airtel (BAL) lost 1% to Rs 675.25 in volatile trade. The company is seen reporting a surge in net profit in December 2006 quarter on the back of strong growth in subscriptions. Four brokerages expect 87.6 - 99.2% growth in BAL’s consolidated net profit as per US GAAP, between Rs 1022.80 crore and Rs 1086.30 crore, from Rs 545.30 core in Q3 December 2005. All four expect 59.5 - 66.1% growth in BAL’s consolidated US GAAP revenue, between Rs 4824.60 crore and Rs 5026.60 crore, from Rs 3025.60 crore in Q3 December 2005. It unveils December 2006 quarter results tomorrow.
Ranbaxy Laboratories lost 1.6% to Rs 407.50. At the time of announcing Q3 results last Thursday, Ranbaxy forecast 15% topline growth and 16% EBIDTA margins for the year-2007 on a consolidated basis.
ICICI Bank lost 1% to Rs 975, even while reporting stronger-than-expected Q3 results on Saturday. ICICI Bank reported 42% surge in net profit in the December 2006 quarter, to Rs 910 crore (Rs 640 crore). Its net interest income (NII) rose 32% to Rs 1709 crore, from Rs 1296 crore in Q3 December 2005.
Cadila Healthcare rose 3% to Rs 360. It reported 22% growth in net profit in December 2006 quarter to Rs 52.50 crore (Rs 42.90 crore).
JSW Steel lost nearly 1% to Rs 419. The company today reported a surge in profit after tax in December 2006 quarter to Rs 362.15 crore from Rs 139.20 crore in December 2005 quarter.
Zee Entertainment Enterprises was up 2% to Rs 301. The company posted a surge in net profit in December 2006 quarter, to Rs 95.80 crore (Rs 33.60 crore). Total income went up to Rs 417.70 crore, from Rs 377.70 crore.
India Cements dropped 2.3% to Rs 242. The company posted a surge in net profit in December 2006 quarter, to Rs 79.78 crore (Rs 7.22 crore).
Orchid Chemicals gained 4% to Rs 216.60 after the company said its betalactam bulk drug making unit located in Maharashtra had received the UK regulatory approval. The approval for this plant, from UK's Medicines and Healthcare products Regulatory Agency, would help Orchid market its betalactam product, Piperacillin-Tazobactam in the European market, Orchid said in a statement.
ING Vysya Bank rose 15.2% to Rs 196.80 after its net profit rose 195 percent in the December 2006 quarter to Rs 14.33 crore.
Nagarjuna Fertilizers & Chemicals fell 10.5% to Rs 15.48 after its December 2006 quarter net profit fell 53%
Jewellery maker Flawless Diamond rose to its daily maximum limit of 5 percent to Rs 87.20 after its October-December net profit more than doubled to Rs 2.86 crore
Power cables maker Torrent Cables was up by its maximum daily limit of 20 percent to 157.90 rupees after it reported 65% surge in net profit in December 2006 quarter to Rs 7.02 crore.
Jet Airways rose 7 percent to Rs 774.20 after the largest domestic carrier returned to profit after two successive quarters of losses. It posted a net profit of Rs 40.04 crore in December 2006 quarter, a fall of 34% on year on year basis.
European markets were in the green in early trade today. Key benchmark indices in London and France were up 0.1 - 0.4%. Asian stocks edged higher on Monday, following a recovery in oil and metal prices. Key benchmark indices in Hong Kong, Japan, South Korea, Singapore and Taiwan were up between 0.03 - 2.3%.
FIIs have resumed buying after their heavy outflows earlier this month. Their net inflow was Rs 111.90 crore on Thursday (18 January). FIIs were net buyers in five out of six trading sessions, from 11 January to 18 January. As per provisional data, FIIs were net buyers to the tune of Rs 125 crore on Friday (19 January).
FIIs were net sellers to the tune of Rs 553 crore in index-based futures on 19 January. They were net sellers to the tune of Rs 91 crore in individual stock futures that day.
posted by SY at 5:46 PM
0 Comments:
Post a Comment
<< Home