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Post-market: Markets close with mild gains on support from heavyweights

Tuesday, September 4, 2012

September 04, 2012 | 5:30 PM

Markets close with mild gains on support from heavyweights
The Indian markets managed to end today's trading session in the green territory after staging a smart comeback in the afternoon session due to gains in heavyweights. The Sensex closed 59 points higher while the Nifty rose 23 points.
Major headlines
Now also get commodity calls in this report!!!

Indian indices
The Indian indices opened today's session on a flat note tracking weak Asian cues and selling pressure across the market. The markets were trading with no major action in stocks in the first half, which left investors calmly watch the show. Further, in the afternoon session weak opening of the European indices also weighed on the market sentiments. There was a bounce back in the late afternoon session as majority of the sectors were under buyers radar led by intensified buying in the index heavyweights. The broader markets too ended the trade on a positive note. The NSE Nifty managed to close above 5250 level while BSE Sensex inched towards 17450.


Movement of the Indian indices for the day
The Indian markets started today's trade on a flat note for the second consecutive session due to lack of local and Asian cues. Black clouds were hovering on the Dalal Street for most part of the day as the equities witnessed gloomy trading sessions. The key indices hit their intraday low levels at 17308.27 and intraday high at 17452.70 in the afternoon session.

 INDEX PERFORMANCE
Index Close % chg
Sensex 17,440.87 0.32
Nifty

5,274.00

0.39

 
 MARKET INDICATORS 
Top Movers (Group A)
Company Price (Rs) % chg
Gainers
Indiabulls Real Estate

45.25

7.61

Torrent Power

157.45

6.89

Opto Circuits

127.85

6.81

Losers
Astrazeneca Pharma

1,796.70

-3.25

Castrol India

284.50

-3.20

Bajaj Holdings

751.00

-2.33

Market Statistics
s

BSE

NSE

Advances

1,543

945

Declines

1,209

696

Volumes (Rs crore)
Cash (BSE+NSE)

9,540

F&O (NSE)

72,669

Markets took a breather as frontline Indian equity benchmarks staged a spirited comeback in the mid-afternoon trade led by strong buying across the board. The Indian equity benchmarks witnessed a reversal trend in trade today, supported by Reliance Industries and State Bank of India. ICICI Bank, Larsen & Toubro, TCS and BHEL too recovered their entire losses. The recovery in the Indian equities came despite of a steep fall across the Asian markets and a weak opening in the European markets. 

Adding further, the halt in parliament over coal allocation scam continued for the 10th consecutive day today as the opposition party BJP was stuck to its demand for resignation of Prime Minister. This resulted in the lower participation of the traders.

The broader markets too ended with gains. The BSE Midcap index added 0.53%, while the BSE Smallcap index rose 0.39% at the closing bell. The overall market breadth stood positive. The Sensex ended at 17443.15, up by 58.75 points while Nifty closed at 5276.85, up by 23 points.

Following are the stocks/sectors which were in news today

  • Kingfisher Airlines gained after Vijay Mallya gave guarantee for the repayment of Rs5,904 cr for the carrier's loans and other liabilities in 2011-12, but did not get any commission for the same because of lenders' opposition. The stock was up by 4.69% in today's trade.
  • S Kumars Nationwide dropped, after the Serious Fraud Investigation Office received complaints about alleged violation of corporate governance and other norms. Currently the matter is examined by the Registrar of Companies (RoC), Ministry of Corporate Affairs has said. The stock closed 5.18% lower in trade today. 
  • Blue Dart Express slipped, after an announcement that its foreign promoter plans to cut stake in the company from the current 81% to comply with the SEBI norms on minimum public share holding requirements. The stock closed 12.03% lower in trade today.
  • Shares of Reliance Communications India's second-biggest telecom carrier by customers, rose after its chairman, Anil Ambani said it will explore options, including selling a stake in its tower arm to pare debt. The stock was up by 4.70% in today's trade. 

Market sentiment
The market breadth stood in favor of advances. Of the 2908 stocks traded on the BSE, 1543 (53.06%) rose, 1209 (41.57%) fell and 156 (5.36%) stocks remained unchanged.

Sectoral & stock screening
Among the 13 sectoral indices, two sectors closed in red zone while remaining eleven sectors closed in green zone. Top Gainers: BSE Realty rose by 1.59%, BSE Oil&Gas surged by 1.19%, BSE Power gained 0.92%. Top Losers: BSE IT down by 0.05%, BSE HC down by 0.04%, BSE FMCG fell by 0.20%.

Among 'A' group stocks, top three gainers were- Indiabulls Real Estate rose by 7.61%, Torrent Power up by 6.89% and Opto Circuits surged by 6.81%. Top three losers were- Astrazeneca Pharma declined by 3.35%, Castrol India down by 3.20% and Bajaj Holdings fell by 2.33%.
Global signals
Asian stock markets wavered on Tuesday as uncertainties persisted about what authorities in the U.S., China and Europe might do to deal with a souring global economy. The previous day's trading was dominated by a survey suggesting that China's manufacturing sector was contracting. The data has raised expectations that Chinese authorities will launch some kind of stimulus to help the economy.

European shares fell on Tuesday as investors turned cautious in the run-up to a European Central Bank (ECB) meeting, with the Swiss market lagging after figures showed an unexpected contraction in the country's economy. Spanish and Italian government bond yields fell and the euro rose after the head of the ECB hinted at the scope of a much-anticipated bond buying program.

US stock index futures headed towards a higher opening at the Wall Street on Tuesday, tracking gains in Europe on Monday when the U.S. market was closed for the Labor Day holiday. Futures for the S&P 500, the Dow Jones and the Nasdaq 100 rose 0.2 to 0.4%.

Commodity Hit List for 04-9-2012 - Evening session

  Support Levels LTP Resistance Levels Action
S2 S1 R1 R2

Gold Cash USD ($)

1677.0

1685.0

1692.0

1697.0

1715.0

Buy Above R1/Sell below S1

Gold MCX OCT

31186.0

31300.0

31358.0

31422.0

31549.0

Buy Above R1/Sell below S1

Silver Cash USD ($)

31.5

32.0

32.2

32.3

32.6

Buy Above R1/Sell below S1

Silver MCX DEC

60712.0

61524.0

61727.0

61950.0

62443.0

Buy Above R1/Sell below S1

Copper MCX NOV

426.0

428.8

430.3

430.7

433.3

Buy Above R1

Zinc MCX Sept

102.2

103.1

104.0

104.3

105.0

Buy Above R1

Nickel MCX Sept

894.0

903.0

907.2

912.0

924.0

Buy Above R1

Aluminium MCX Sept

106.1

106.7

107.5

107.8

109.0

Buy Above R1

Lead MCX SEPT

108.9

110.0

111.0

111.3

112.0

Buy Above R1

Crude Oil USD ($)

96.0

96.8

97.3

97.5

98.3

Buy Above R1/Sell below S1

Crude Oil MCX Sept

5334.0

5381.0

5408.0

5424.0

5450.0

Buy Above R1/Sell below S1

Natural Gas MCX Sept

153.4

154.8

155.7

156.5

158.8

Buy Above R1

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