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Post-market: Mkts get breather ahead of Union Budget 2013; Sensex marks 137 pts rise

Wednesday, February 27, 2013

February 27, 2013 | 5:30 PM

Mkts get breather ahead of Union Budget 2013; Sensex marks 137 pts rise
Indian markets rose today after the government raised the growth projection for fiscal year 2013-14 backed by global support. The Sensex rose 137 points while the Nifty settled 36 points higher in trade today.
Major headlines
Now also get commodity calls in this report!!!

Indian indices
The Indian stocks rebounded from three-month lows hit in the previous session ahead of F&O expiry for the month of February and the presentation of the 2013/14 budget. Markets started the trading session on a higher note ahead of Economic Survey which was to be tabled in Parliament. Appreciation of the rupee and positive global cues helped domestic markets gain. However, the markets pared some gains in the noon deals as investors maintained a cautious approach ahead of major economic events. The markets reversed the trend and ended in green on hopes of economic growth.

Movement of the Indian indices for the day:
The key benchmark indices started today's trading session on a positive note but erased early gains in late morning deals led by selling among IT and auto shares. The broader markets settled at par with its benchmark Sensex leading to a strong market breadth. The Midcap index gained 0.74% and the Smallcap index rose by 0.20% in trade today. The investors remained aloof and avoided trading in riskier assets. Indices pared gains on back of profit-booking witnessed in majority of the sectors.


 INDEX PERFORMANCE
Index Close % chg
Sensex 19,152.41 0.72
Nifty

5,796.90

0.62

 
 MARKET INDICATORS 
Top Movers (Group A)
Company Price (Rs) % chg
Gainers
Jet Air

534.85

19.27

Suzlon Energy

24.25

13.85

Jaypee Infratech

44.60

6.19

Losers
Core Education

60.30

-46.09

Opto Circuits

47.75

-6.74

Pipavav Defence

77.75

-4.95

Market Statistics
s

BSE

NSE

Advances

1,441

839

Declines

1,359

700

Volumes (Rs crore)
Cash (BSE+NSE)

14,013

F&O (NSE)

198,112

Markets extended gains in afternoon session after the Congress-led UPA government raised the growth projection for fiscal year 2013-14 and simultaneously lowering the Inflation target for Asia's third-biggest economy.

On the currency front, the Indian rupee appreciated by 22 paise to Rs53.88 against the dollar at the Interbank Foreign Exchange (forex) market today on selling of the US currency by exporters

The Sensex rose 137.27 points to close at 19152.41, while the Nifty advanced 35.55 points higher to settle at 5796.90.

Following are the stocks/sectors which were in news today:

  • Railway stocks extended their yesterday's fall; Titagarh Wagons was down 14.14%, Kalindee Rail Nirman (Engineers) fell 11.23% and Kernex Microsystems (India) plunged 9.71% to record their 52-week lows on the BSE while Stone India, Hind Rectifiers BEML and Bartronics India are among others fell in the range 2-5%.
  • Bata India rose 1.96% after company's net profit rose 12.98% to Rs50.91 crore on 18.09% rise in net sales to Rs508.89 crore in Q4 December 2012 over Q4 December 2011.
  • Suzlon Energy gained 13.85% after India's largest wind-turbine maker won 103-megawatt (MW) order from Oil & Natural Gas Corporation Limited (ONGC).
  • Bharti Airtel rose 3.29% on continued hopes the government will be forced to cut the reserve prices for the remaining auctions of airwaves, thus improving the earnings outlook for the sector.
  • Ranbaxy Laboratories fell by 4.20%, extending its previous day's 4% fall, after reporting a lower-than-expected numbers on the profit front for the quarter ended December 31, 2012 (Q4).
  • CORE Education and Technologies tanked 46.09% on back of heavy volumes on NSE despite the company clarified that the pledged shares were not sold in the market.
Market sentiment
The market breadth stood in favor of advances. Of the 2930 stocks traded on the BSE, 1441 (49.18%) rose, 1359 (46.38%) fell and 130 (4.44%) stocks remained unchanged.

Sectoral & stock screening
Among the 13 sectoral indices, three sectors closed in the red zone while remaining ten sectors closed in the green zone. Top Gainers- BSE CG up by 2.41%, BSE Realty rose by 2.12%, BSE Oil&Gas surged 1.17%. Top Losers: BSE IT slipped 0.96%, BSE TECk fell by 0.23% and BSE HC declined by 0.04%

Among 'A' group stocks, top three gainers were- Jet Airways rose by 19.27%; Suzlon Energy up by 13.85% and JP Infratech surged by 6.19%. Top three losers were- CORE Education declined by 46.09%, Opto Circuits was down by 6.74% and Pipavav Defence fell by 4.95%.



Global signals
Stocks in Asia rose on Wednesday as U.S. economic data and comments from Federal Reserve Chief Ben Bernanke helped lift the mood in global markets.

European shares and Italian debt prices briefly rose today after Italy sold the maximum amount of bonds it planned to offer in a debt auction though borrowing costs soared.

US stock index futures pointed towards a slightly higher opening at the Wall Street on Wednesday ahead of the Census Bureau's durable goods orders data and the National Association of Realtors' (NAR) Pending Home Sales Index report.

Commodity Hit List for 27-02-2013 - Evening session

  Support Levels LTP Resistance Levels Action
S2 S1 R1 R2

Gold Cash USD ($)

1600.0

1608.0

1611.7

1620.0

1633.0

Sell below S1

Gold MCX April

29491.0

29800.0

29868.0

30030.0

30139.0

Sell below S1

Silver Cash USD ($)

28.6

29.1

29.2

29.5

29.6

Sell below S1

Silver MCX Mar

53200.0

53800.0

54053.0

54500.0

54739.0

Sell below S1

Copper MCX Feb

415.0

420.8

421.5

424.2

427.0

Sell below S1

Zinc MCX Feb

110.5

111.8

112.6

113.0

113.9

Buy Above R1/Sell below S1

Nickel MCX Feb

880.0

889.0

892.0

897.0

910.0

Buy Above R1/Sell below S1

Aluminium MCX Feb

105.0

106.0

106.5

107.0

107.6

Sell below S1

Lead MCX Feb

122.3

123.3

124.0

124.6

125.3

Sell below S1

Crude Oil USD ($)

91.0

92.5

92.9

93.5

94.5

Buy Above R1/Sell below S1

Crude Oil MCX Mar

4950.0

5000.0

5009.0

5046.0

5080.0

Buy Above R1/Sell below S1

Natural Gas MCX Mar

184.0

186.0

186.5

188.1

189.5

Sell below S1

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