Post Session Market

Indian market closed in green due to the strong buying support despite rise in inflation figures. The market got the momentum due to the strong GDP numbers. India’s GDP reported a growth of 8.8% for the fourth quarter ended March 2008 and the GDP growth in FY 2008 was 9%. This strong growth was on the back of strong expansion in the service sector. The Securities and Exchange Board Of India opened the doors for the university funds, soverign wealth funds, endowments and charitable trusts to register as foreign institutional investors. On the other hand, the government also gave relaxation on the restriction given on external commercial borrowings (ECBs) by raising the limit of borrowing amount by way of ECB and repatriate to $50mn as against $20mn earlier. It has also allowed the infrastructure firms to borrow up to $100mn.

The domestic market opened higher tracking the favoring cues from the US Markets and was trading firm due to buying in key stocks and Nifty June futures series which settled at premium. It touched negative territory for a moment during first half of the trading session. Further investors kept the market well positioned in positive territory till the end of session. From the sectoral front capital goods and metal stocks were in limelight as most of the buying was seen from these baskets. The market breadth was negative as 1008 stocks closed in green while 1701stocks closed in red and 58 stocks remained unchanged.

India’s Inflation stood at 8.1 percent for the week ended May 17, compared to 7.82 percent previous week

The BSE Sensex closed higher by 99.31 points at 16,415.57 and NSE Nifty went up by 34.80 points to close at 4,870.10. The BSE Mid Cap ended up by 18.78 points at 6760.54 while Small Cap fell by 48.03 points to close at 8,133.04. The BSE Sensex touched intraday high of 16,540.49 and intraday low of 16,314.99.

Gainers from the BSE are HDFC (5.59%), Ranbaxy Lab Ltd (4.77%), BHEL (3.89%), Infosys Tech (3.64%), TCS Ltd (3.41%), L&T Ltd (2.53%), Bharti Airtel (2.05%), ONGC Ltd (1.24%) and Hindalco (1.24%).

The Capital Goods index was up by 323.61 points to close at 13,150.64. Major gainers are Aia engineer (5.95%), Kalpat Power (5.79%), BHEL (3.89%), Praj Industries (3.71%), Punj Lloyd (3.23%), L&T Ltd (3.19%) and ABB Ltd (2.87%).

The Metal index ended higher by 235.18 points at 16,914.63 as Bhushan Steels was up by (8.67%) followed by Jindal Saw by (5.15%), Sesa Goa (3.83%), Welspan Gujarat by (3.29%), Sterlite Industries (2.83%) and Jindal Steel by (2.17%).

The IT index advanced by 96.03 points to close at 4,643.79. Gainers are NIIT Ltd (4.35%), Infosys Tech (3.64%), TCS Ltd (3.41%), Tech Mahindra (2.98%), Mphasisi Ltd (1.69%), and Moser Baer (1.59%).

The Oil & Gas index decreased by 174.57 points to close at 10,396.85. Losers are Essar Oil Ltd (2.78%), Reliance (2.63%), HPCL (1.94%), Reliance Nat Resources (1.65%), Reliance Pet (1.02%) and Cairn India (0.64%).

Power index closed lower by 112.60 points at 2,936.24, losers are Reliance Power (42.41%), GVK Power Inf (1.85%), Tornt Power (1.45%), Reliance Infra (1.25%), GMR Infrast (0.89%), Seimens Ltd (0.84%), and Tata Power (0.65%).

Mid Session Market

The market is still trading higher even the though the inflation number came in higher than expected. Inflation stood at 8.1% for the week ended May 17 as against 7.82% in previous week. The market was expecting the number to stood around 7.91%. The buying interest is seen in the Capital Goods, Pharma, and Metal and FMCG stocks. However, the Power, Oil & Gas and Banking stocks are still under pressure. The most buying is seen among the frontline indices. The broader market is trading flat as the BSE Miid Cap is trading higher while the BSE Small Cap is trading in red.

The overall market breadth is negative, as 1139 stocks are advancing while 1301 stocks are declining and the 90 stocks remained unchanged on BSE.

The BSE Mid cap is higher by 41.25 points at 6,783.01 and the BSE small Cap slipped by 6.40 points to trade at 8,174.67.

At 12.30 pm, BSE Sensex was at 16,453.69 up by 137.43 points and Nifty was at 4,881.05 up by 45.75 points.

BSE Metal index advanced by 308.70 points to trade at 16,988.15. The major gainers are Hindalco Industries (3.43%), Sterlite Industries (2.62%), SAIL (1.86%) and Tata Steel (1.56%).

BSE Oil & Gas index was trading 63.42 points lower at 10,508 as HPCL (2.73%), Essar Oil (2.54%) and ABN Offshore (0.55%) are trading in red.

BSE Capital goods index surged by 358.26 points to 13,185.29. The main gainers are BHEL (4..03%), ABB (3.74%), L&T (3.74%) and Siemens (0.51%).
BHEL is aggressively eyeing to make an entry into the locomotive manufacturing to tap the Indian railways expansion and is exploring partnerships with large global engine makers along with acquisitions of European firm to provide technology.

BSE IT index inclined by 27.62 points to trade at 4,575.38 as Infosys Technologies (1.73%), HCL Technologies (1%),and TCS (0.84%) are trading in green.

BSE Bankex index is trading lower by 47 points at 7,671.81. Losers are Indian Overseas Bank (4.14%), AXIX Bank (3.42%), ICICI Bank (1.11%) and Bank of Baroda (0.92%).

BSE Realty increased by 2.67 points to 7,119.52. Leading to its gain are Purvankara (2.77%), DLF (1.61%), Sobha Developers (1.42%) and HDIL (0.87%).

BSE Auto grew by 3.89 points to 4,414.70. Leading to its gain are Mahindra & Mahindra (1.12%), Maruti Suzuki (0.52%) and Tata Motors (0.03%).

Pre Session Market

The Indian Market is likely to open in positive zone on the back of favorable global cues as the US market closed in green and the Asian markets are showing positive trend. On Thursday, domestic markets closed in red after giving up its initial gains due to heavy selling through last trading hours and fuel price worries. the government postponed the decision on a possible oil price hike for next two to three days. Also, the expiry of the May 2008 derivatives contract adds to the sentiment. The Nifty rollover for May 2008 stood at 57% as against 62% in April 2008 contract. The market opened with gain tracking the global cues but was unable to sustain the momentum and turned volatile. Further, it was not able to recover from negative sentiment and took back steps to close in negative. The banking, oil & gas and auto stocks remained out of favor till the end of trading session while the capital goods stocks were in limelight as most of the buying was seen from this basket. The BSE Sensex closed down by 209.11 points at 16,316.26 and NSE Nifty fell by 83.05 points to close at 4,835.30. We expect that the market may remain volatile and also investors’ attitude will depend on the inflation figures, which will come out today.

Market controller SEBI has modified the registration guidelines for FIIs. Now institutions formed by non-resident Indians can also register as FIIs and invest in the Indian stock markets. To be registered as FIIs they do not have to invest as proprietary funds and can invest in collective investment schemes. Now sovereign wealth funds, pension funds and endowment funds also allowed to be registered as FII.

On Thursday, the US market closed in positive. The Dow Jones Industrial Average (DJIA) closed higher by 52.19 points at 12,646.22 along with NASDAQ went up by 21.62 points to close at 2,508.32 and S&P 500 by 7.42 points to close at 1,398.26.

Indian ADRS ended mixed In technology sector, Satyam raised by (3.89%) along with Wipro by (2.37%), Infosys by (2.19%) while Patni Computers dropped by (0.53%). In banking sector, ICICI bank and HDFC bank decreased by (0.97%) and (0.83%) respectively. In telecommunication sector, MTNL and Tata Communication fell by (3.81%) and (0.83%). Sterlite industries went up by (0.47%).

Today the major stock markets in Asia are trading mixed. Japan’s Nikkei is trading up by 115.88 points at 14,240.35 along with Hang Seng index trading high by 15.24 points at 24,399.23 while Taiwan Weighted trading down at 8,579.90 by 105.02 points.

The FIIs on Thursday stood as net seller in equity. The gross equity purchased was Rs3,264.4 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs3,998.3 Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was Rs(733.9) Crore and net debt was Rs0.00 Crore.
Today, Nifty has support at 4,726 and resistance at 4,928 and BSE Sensex has support at 15,925 and resistance at 16,583.

Post Session Market

Indian market made a sharp downward movement towards the final trading session to close in red after giving up its initial gains on the back of heavy selling through last trading hours and fuel price worries. The domestic market opened higher tracking the favoring cues from the US Markets, but was not able to sustain the momentum and turned volatile due to fear of rising fuel prices and the expiry of the derivatives contracts. Further investors negative attitude forced the market to close in negative zone. The government would decide on raising fuel price in the next two to three days. The banking, oil & gas and auto stocks were worst sufferer of the investors’ negative attitude while the capital goods stocks were in limelight as most of the buying was seen from this basket. The market breadth was negative as 1115 stocks closed in green while 1537stocks closed in red and 109 stocks remained unchanged.

The BSE Sensex closed down by 209.11 points to close at 16,316.26 and NSE Nifty fell by 83.05 points to close at 4,835.30. The BSE Mid Cap and Small Cap closed lower by 11.77 points and 56.02 points at 6,741.76 and 8,181.07 respectively. BSE Sensex touched intraday high of 16,666.03 and intraday low of 16,196.02.

Losers from the BSE are Tata Motors (8.22%), Ambuja Cement (6.05%), Mahindra & Mahindra (5.52%), SBI (3.62%), Hindalco (3.54%), HDFC (3.24%), NTPC (3.03%) and ICICI Bank Ltd (2.79%).

The Banking index closed down by 214.69 points at 7,718.81. Losers are Allahabad Bank (4.42%), Bank of India (4.32%), Canara Bank (4.18%), Kotak Bank (3.63%), SBI (3.62%), CBOP (3.45%), and Andhra Bank (3.40%).

The Oil & Gas index decreased by 206.49 points to close at 10,571.42. Losers are REl Pet (2.43%), ONG Corp Ltd (2.38%), Reliance Nat Res (2.28%), Reliance (2.19%), Gail India (1.96%) and Essar Oil Ltd.

Auto index closed lower by 151.22 points at 4,410.81, losers are Tata Motors (8.22%), Mahindra & Mahindra (5.52%), Herohonda Motors (2.77%), TVS Motors Ltd (2.59%), Escorts Ltd (2.35%), Ashok Leyland (2.30%), and Maruti Suzuki (1.34%).

The reality index ended down by 113.47 points at 7,116.95. Major losers are Purvankara (6.06%), Housing Dev (3.29%), Ansal Infra (3.07%), Unitech Ltd (3.04%), Penland Ltd (2.68%), DLFLtd (2.39%) and Parsvnath (2.39%).

The Capital Goods index was up by 255.12 points to close at 12,827.03. Major gainers are L&T Ltd (6.64%), Bharat Elec (3.57%), Elecon Eng C (3.52%), Alstom Proj Ltd (2.92%), Jyoti Struct (1.65%), BEML Ltd (1.35%) and Areva (0.65%).

Mid Session Market

The market is trading with marginal gain. The significant buying witnessed in the Metal, Realty and Pharma stocks. However, the Auto, Bank and FMCG stocks are still trading in pressure. The BSE Sensex is hovering around the 16500 mark and the NSE Nifty is trading around the 4900 mark. The broader market has outperformed the benchmark index today as sustained buying is seen in the Mid Cap and Small Cap stocks.

The overall market breadth is positive, as 1455 stocks are advancing while 958 stocks are declining and the 76 stocks remained unchanged on BSE.

The BSE Mid cap is higher by 49.01 points at 6,802.54 and the BSE small Cap advanced by 47.13 points to trade at 8,284.22.

At 12.30 pm, BSE Sensex was at 16,518.32 down by 6.95 points and Nifty was at 4,927.15 up by 8.80 points.

BSE Metal index surged by 347.58 points to trade at 16,997.23. The major gainers are Sterlite Industries (2.92%), NALCO (1.98%), Tata Steel (1.18%) and SAIL (0.69%).
Tata Steel has received mineral concession approvals from the ministry of Mines for two large mines-one for an iron ore mine in Jharkhand and other for a chrome ore mine in Manipur.

BSE Oil & Gas index was trading 49.58 points higher at 10,827.49 as BPCL (2.80%), Cairn India (2.28%), ONGC (0.82%) and RPL (0.55%) are trading in green.

BSE Capital goods index improved by 30.16 points to 12,602.07. The main gainers are BEML (2.93%), Crompton Greaves (1.89%), L&T (0.63%) and Punj Lloyd (0.28%).

BSE IT index inclined by 1.93 points to trade at 4,568.35 as I-flex (2.32%), Satyam Computer (2.58%), Wipro (1.74%) and Tech Mahindra (1.50%) are trading in green.
Satyam Computers and Siemens PLM Software has entered into an alliance to provide software and services to help customers enhance efficiency and enable them to benefit from the duos expertise. Also, it has entered into a comprehensive agreement GE Healthcare to support customers deploying healthcare IT solutions based on GE centricity enterprise software. The companies will join the forces to plan, design and implement infrastructures for global healthcare providers.

BSE Bankex index is trading lower by 65.39 points at 7,868.11. Losers are Allahabad Bank (3.30%), Bank of India (2.37%), ICICI Bank (1.55%) and SBI (1.60%).

BSE Realty increased by 50.83 points to 7,281.25. Leading to its gain are Indiabull Real (2.82%), Unitech (0.53%), Sobha Developers (0.36%) and HDIL (0.28%).

BSE Power index decreased by 6.96 points to trade at 3,097.33 as Suzln Energy (4.23%), Tata Power (0.83%) and NTPC (0.37%) are trading in negative.
Tata Power is investing Rs.500 crore for the expansion of wind power. The company would be adding 115 MW of wind power capacity in the current fiscal.

BSE Auto slipped by 78.46 points to 4,483.57. Leading to its fall are Tata Motors (6.66%), Mahindra & Mahindra (2.18%) and Maruti Suzuki (1.65%).

Pre Session Market

The Indian Market is expected to have positive opening on the back of strong global cues as the US market closed in green and the Asian markets are going through positive sentiment. On Wednesday, Indian markets closed in green after going through volatility whole day. The market opened with the positive energy tracking the global cues but was not able to sustain the momentum and turned volatile due to the short covering of the expiry of the derivatives contract as well as positive start of the European market and government decision to relax its stance on the ban of cement exports gave a bit of support to the market. Further, buying in some key stocks like metal, banking, IT and FMCG influenced the market to close in green. Finance minister’s statement that oil cess is baseless and government is not considering to levy this for compensating oil losses, also helped the market sentiment. The capital goods and power stocks were out of favor as most of the selling was seen from these baskets. The BSE Sensex closed higher by 249.78 points at 16,525.37 and NSE Nifty grew by 58.55 points to close at 4,918.35. We expect that the market may gain further during the trading session.

Union Cabinet is expected to take decision today on the possible hike in fuel price. The government may also talk about rescue package for oil companies, which could include price hike, duty reductions and additional bonds. Earlier according some media reports, government was planning to consider cess on the income and corporate tax to compensate fuel price hike. But yesterday finance minister has denied that.

On Wednesday, the US market closed in positive territory. The Dow Jones Industrial Average (DJIA) closed higher by 45.68 points at 12,594.03 along with S&P 500 went up by 5.49 points to close at 1,390.84 and NASDAQ dropped by 5.46 points to close at 2,486.70.

Indian ADRS ended up. In technology sector, Infosys raised by (2.54%) along with Satyam by (2.48%), Wipro by (1.73%) and Patni Computers by (0.92%). In banking sector, ICICI bank and HDFC bank increased by (0.90%) and (0.88%) respectively. In telecommunication sector, Tata Communication and MTNL enhanced by (1.86%) and (0.42%). Sterlite industries went up by (0.90%).

Today the major stock markets in Asia are trading higher. Japan’s Nikkei is trading up by 383.28 points at 14,092.72 along with Hang Seng index trading high by 221.14 points at 24,470.65 and Taiwan Weighted trading at 8,740.79 down by 75.06 points.

The FIIs Wednesday stood as net seller in equity. The gross equity purchased was Rs2,338.60 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs2,692.80 Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was Rs(354.20) Crore and net debt was Rs0.00 Crore.

Today, Nifty has support at 4,831 and resistance at 5,016 and BSE Sensex has support at 16,217 and resistance at 16,939.

Post Session Market

Indian market made a smart come back towards the final trading hours to close with good gains after jigging up and down through out the trading session. Buying during final hours witnessed due to the favoring cues from global markets as European markets opened on a positive note and crude oil prices tumbled below $127 a barrel. The domestic market opened higher tracking the favoring cues from the US Markets, but was not able to sustain the momentum and turned volatile due to the expiry of the derivatives contracts tomorrow. Further, buying in some key stocks like metal, banking, IT and FMCG powered the market to close in green. The capital goods and power stocks were out of favor as most of the selling was seen from these baskets. The market breadth was negative as 1312 stocks closed in green while 1358 stocks closed in red and 86 stocks remained unchanged.

The BSE Sensex closed higher by 249.78 points at 16,525.37 and NSE Nifty grew by 58.55 points to close at 4,918.35. The BSE Mid Cap and Small Cap closed up by 74.62 points and 27.01 points to 6,753.53 and 8,237.09 respectively.

Gainers from the BSE are Ambuja Cement (6.66%), ITC Ltd (6.19%), Hindalco (5.96%), TCS Ltd (4.46%), Tata Steel (4.00%), SBI (3.12%), Satyam Comp (3.09%), Wipro Ltd (2.96%), JP Associates (2.64%) and Bharti Airtel (2.49%).

Losers from the BSE are BHEL (2.78%), L&T Ltd (1.25%), ONG Corp Ltd (1.11%), Mahindra & Mahindra (0.46%), NTPC Ltd (0.37%), HDFC (0.21%) and Reliance Com Ltd (0.03%).

Metal index closed higher by 378.88 points at 16,649.65, gainers are Hindalco (5.96%), Welspan Gujarat SR (5.33%), Tata Steel (4.00%), Ispat Indus (3.49%), Bhushan Steel (3.46%), and Nat Aluminum Co (2.85%).

The Banking index closed up by 178.86 points at 7,933.50. Gainers are Axis Bank (9.51%), Kotak Bank (5.94%), PNB (3.97%), Union Bank (3.24%), SBI (3.12%), and Canara Bank (2.82%).

The IT index ended up by 116.02 points at 4,566.42. Major gainers are Mphasis Ltd (10.02%), Aptech Ltd (5.79%), TCS Ltd (4.46%), Rolta India (4.30%), Satyam Comp (3.09%), Wipro Ltd (2.96%) and NIIT Tech (2.86%).

The Oil & Gas index increased by 70.01 points to close at 10,777.91. Gainers are Gail India (2.81%), Reliance Pet (2.76%), BPCL (2.63%), Reliance Nat Res (1.88%), Reliance (1.15%) and HPCL (0.99%).

The Capital Goods index was down by 212.23 points to close at 12,571.91. Major losers are Jyoti Struct (6.24%), Crompton Greaves Ltd (6.07%), BHEL (2.78%), Suzlon Energy (2.64%), Elecon Eng C (1.40%), Areva (1.39%) and SKF India (1.39%).

Mid Session Market

The volatility grips the market soon after the start of the session. The market is swinging in between the positive and negative territory. The sustained buying support is seen in the selective scrips mainly led by the FMCG, IT, Pharma and Bank stocks. However, Capital Goods, Power, Realty and Auto stocks are still under pressure. The broader market is also trading flat as the Mid Cap is trading in the positive zone while the Small cap is trading lower.

The overall market breadth is negative, as 1043 stocks are advancing while 1392 stocks are declining and the 76 stocks remained unchanged on BSE.

The BSE Mid cap is higher by 8.76 points at 6,687.67 while the BSE small Cap dropped by 23.31 points to trade at 8,186.76.

At 12.30 pm, BSE Sensex was at 16,331.35 up by 55.75 points and Nifty was at 4,864.20 up by 4.40 points.

BSE IT index inclined by 43.38 points to trade at 4,493.78 as Satyam Computer (2.49%), HCL Technologies (2.10%), TCS (1.79%) and Wipro (1.65%) are trading in green.

BSE Oil & Gas index was trading 41.32 points lower at 10,666.58 as Cairn India (3.28%), Essar Oil (2.39%), ONGC (1.52%) and ABN Offshore (0.61%) are trading in red.

BSE Metal index dropped by 51.53 points to trade at 16,219.24. The major losers are Jindal Steel (3.67%), SAIL (1.21%), Sterlite Industries (0.63%) and Tata Steel (0.14%).

BSE Capital goods index slipped by 271.95 points to 12,512.19. The main losers are BHEL (3.48%), L&T (1.87%), ABB (0.52%) and Siemens (0.23%).

BSE Bankex index is trading higher by 22.33 points at 7,776.97. Gainers are AXIX Bank (5.55%), Kotak Bank (1.77%), PNB (1.29%) and SBI (1%).

BSE Realty decreased by 103.35 points to 7,122.75. Leading to its fall are Unitech (1.99%), Indiabull Real (1.96%), Sobha Developers (1.76%), Purvankara (0.65%) and HDIL (0.43%).

BSE Power index decreased by 41.87 points to trade at 3,070.44 as Suzlon Energy (3.60%), Torent Power (1.88%), Rel Infra (1.60%), Reliance Power (1.16%), and NTPC (0.96%) are trading in negative.

BSE Auto decreased by 33.32 points to 4,502.32. Leading to its fall are Mahindra & Mahindra (1.48%), Tata Motors (0.81%), and TVS Motor (0.92%).

Pre Session Market

The Indian Market is expected to open positive on the back of supportive global cues as the US market closed in green and crude oil prices slipped below $129 a barrel. On Tuesday, the domestic markets closed in negative after pairing all its initial gains as the profit booking at the final hours prevailed. The market opened with handsome gains and continued to show upbeat attitude till afternoon but was not able to sustain the momentum. Investors’ cautious behavior led the market to take U turn after mid session and forced to close in red. The banking, oil & gas and reality stocks were not in favor as most selling was reported from these baskets. While IT stocks were in renown as investors were supporting this index. The BSE Sensex closed lower by 72.91 points at 16,275.59 and NSE Nifty fell by 15.25 points to close at 4,859.80. We expect that the market may remain volatile during the trading session.

Bond yields increased to fresh one-month highs on Wednesday as tight cash conditions and high inflation reduced investor demand for debt. The 10-year benchmark bond yield closed at 8.11% on Tuesday, which is highest since 29th April and also higher from Monday’s close at 8.04%.

On Tuesday, the US market closed in green. The Dow Jones Industrial Average (DJIA) closed higher by 68.72 points at 12,548.35 along with NASDAQ advanced by 36.57 points to close at 2,481.24 and S&P 500 up by 9.42 points to close at 1,385.35.

Indian ADRs ended mixed. In technology sector, Satyam was higher by (3.36%) along with Wipro by (3.19%), Patni Computers by (1.96%) and Infosys by (1.90%). In banking sector, ICICI bank and HDFC bank dropped by (4.26%) and (1.94%) respectively. In telecommunication sector, MTNL slipped by (3.26%) and Tata Communication was up by (2.95%). Sterlite industries fell by (0.42%).

Today the major stock markets in Asia are trading in mixed. Japan’s Nikkei is trading lower by 56.78 points at 13,836.53 along with Hang Seng index trading down by 25.82 points at 24,256.22 and Taiwan Weighted trading at 8,753.76 down by 24.63 points. However, Straits Times jumped by 10.75 points at 3,126.10 and Shanghai Composite was up by 14.37 points at 3,389.78.

The FIIs on Wednesday stood as net seller in equity and debt. The gross equity purchased was Rs2,144.800 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs3,259.90 Crore and gross debt sold stood at Rs14.90 Crore. Therefore, the net investment of equity reported was (Rs115.00 Crore) and net debt was (Rs14.90 Crore).

Today, Nifty has support at 4,763 and resistance at 4,931 and BSE Sensex has support at 16,020 and resistance at 16,564.

Post Session Market

Indian market took a U-turn after the mid session by pairing all its initial gains to close in red due to investors’ protective attitude during the second half and the negative cues from European markets, which were trading lower. The domestic market opened with a bang tracking the favoring cues from the Asian Markets, but was not able to sustain the momentum and fell after mid session as investors took cautious approach to book their positions. Today Indian rupee declined by 0.78% to Rs42.89/USD. This led the IT sector to obtain support from the market. However, there was lack of support in banking, oil & gas and reality stocks, which adds on heavy selling pressure. The market breadth was negative as 992 stocks closed in green while 1760 stocks closed in red and 81 stocks remained unchanged.

The BSE Sensex closed lower by 72.91 points at 16,275.59 and NSE Nifty fell by 15.25 points to close at 4,859.80. The BSE Mid Cap and Small Cap closed down by 81.86 points and 108.12 points to 6,678.91 and 8,210.08 respectively.

Losers from the BSE are SBI (4.19%), HDFC (2.08%), ICICI Bank Ltd (1.71%), ONG Corp Ltd (1.34%), Reliance (1.25%), HDFC bank Ltd (1.20%), DLF Ltd (0.80%), Tata Steel (0.80%), Hindalco (0.48%) and JP Associates (0.42%).

The IT index ended up by 32.40 points to close at 4450.40. Major gainers are Satyam Comp (3.29%), Wipro Ltd (2.71%), I-flex (2.22%), HCL Tech (1.08%) and Tech Mahindra (0.98%).

The Banking index closed lower by 184.61 points at 7,754.64. Losers are OBC (5.69%), Bank of India (4.90%), Bank of Baroda (4.80%), Indian Overseas Bank (4.69%), SBI (4.19%), and Union Bank (3.93%).

The Reality index closed down by 113.99 points at 7,226.10. Losers are Pheonix Mill (4.71%), Unitech Ltd (4.21%), Penland Ltd (4.02%), Ananat Raj In (3.56%), and Ansal Infra (3.37%).

The Oil & Gas index decreased by 112.75 points at 10,707.90. Losers are Cairn India (2.98%), Reliance Pet (2.30%), ONG Corp Ltd (1.34%), Reliance (1.25%) and Reliance Nat Res (0.81%).

The Consumer durables index was down by 85.01 points to close at 4,385.96. Major losers are Gitanjali GE (3.45%), Blue Star L (2.1%), Videocon Ind (1.87%), Lloyd Ele En (1.77%), Rajesh Export (1.54%) and Titan India (1.10%).

Metal index closed lower by 72.44 points at 16,270.77, losers are Welspan Gujarat SR (4.87%), Jindal Steel (4.01%), Sh Precoated SR (3.52%), Ispat Indus (3.23%), Hindustan Zinc (1.91%), and Maharashtra Sea1.71%).

Mid Session Market

The market has maintained its opening gains and is still trading higher as sustained buying support is seen in the selective scrips. The Consumer Durables, Oil & Gas, Power and FMCG stocks ar the hot pursuits of the day. However, the banking stocks are still under pressure as some selling pressure in seen in these scrips. The BSE Sensex is hovering around the 16, 400 mark and the NSE Nifty is trading near the 4900 mark. The broader market is also trading in line with the benchmark index.

The overall market breadth is positive, as 1484 stocks are advancing while 941 stocks are declining and the 76 stocks remained unchanged on BSE.

The BSE Mid cap is higher by 44.87 points at 6,805.64 and the BSE small Cap advanced by 62.73 points to trade at 8,380.94.

At 12.30 pm, BSE Sensex was at 16,451.76 up by 103.26 points and Nifty was at 4,923.90 up by 48.85 points.

BSE IT index inclined by 35.03 points to trade at 4,453.03 as Wipro (3.08%), Satyam Computer (2.75%), TCS (1.31%) and HCL Technologies (0.62%) are trading in green.

BSE Oil & Gas index was trading 85.97 points higher at 10,906.62 as BPCL (1.64%), RPL (1.53%) and Cairn India (0.78%) are trading in green.

BSE Metal index advanced by 109.12 points to trade at 16,452.33. The major gainers are Sterlite Industries (1.58%), SAIL (1.08%), NALCO (0.55%) and Tata Steel (0.51%).

BSE Capital goods index inclined by 105.39 points to 12,939.07. The main gainers are BHEL (2.47%), ABB (2.28%), L&T (0.72%).
BHEL has bagged Rs 1,150 crore turnkey contract for setting up an energy efficient 153 MW captive power plant at Bhatinda in Punjab.

BSE Bankex index is trading lower by 92 points at 7,847.25. Losers are Andhra Bank (2.58%), Bank of Baroda (1.62%), HDFC Bank (1.74%) and SBI (1.54%).
State Bank of India hikes rates on long term deposites. The bank announced an increase of 25 to 50 basis points in interest rate on deposits of tenures of two years and above.

BSE Realty increased by 71.10 points to 7,411.19. Leading to its gain are Purvankara (4.52%), Omaxe Ltd. (2.56%), HDIL (2.31%), Unitech (1.58%) and DLF (1.42%).

BSE Power index increased by 35.03 points to trade at 3,161.35 as Crompton Greaves (3.54%), Rel Infra (2.96%), Tata Power (2.22%), Torent Power (1.60%) and NTPC (1.02%) are trading in positive.

BSE Auto increased marginally by 4.85 points to 4,536.88. Leading to its gain are TVS Motor (1.96%), Ashok Leyland (0.67%), and Maruti Suzuki (0.15%).

Pre Session Market

The Indian Market is likely to have a positive opening on the back of favorable cues from the Asian markets as it is trading on the strong note. On Monday, unfavorable global cues like surging crude oil prices and increasing inflationary worries led the Indian market to open on back foot and continued the same throughout the trading session to close in negative. Also the expiry of derivatives contract on coming Thursday added to the sentiments. From the sectoral front, the metal, capital goods, banking and reality stocks were not in favor due to lack of support. However IT stocks were in limelight as it was only index to trade in green The BSE Sensex closed lower by 301.14 points at 16,348.50 and NSE Nifty fell by 71.5 points to close at 4,875.05. We expect that the market may gain further during the trading session.

The government is working on a dual-track strategy of fuel price hikes and the duty cuts. The finance ministry has asked the petroleum ministry to work out the strategy of duty realizations and their impact on oil companies.
On Monday, the US markets were closed for the celebration of Memorial holiday.

Today the major stock markets in Asia are trading firm. Hang Seng index is trading higher by 136.21 points at 24,263.52 along with Japan’s Nikkei trading up by 112.43 points at 13,802.62 and Taiwan Weighted trading at 8,756.69 up by 48.86 points.

The FIIs on Monday stood as net seller in equity and debt. The gross equity purchased was Rs2,350.70.00 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs2,351.200 Crore and gross debt sold stood at Rs130.10 Crore. Therefore, the net investment of equity reported was (Rs500.50 Crore) and net debt was (Rs130.10 Crore).

Today, Nifty has support at 4793 and resistance at 4987 and BSE Sensex has support at 16132 and resistance at 16724.

Post Session Market

Indian market ended on negative note due to the heavy selling pressure in metal, capital goods and banking stocks during the trading session led by weak cues from the global markets. Market tumbled since its initial bell tracking the unfavouring cues from the global markets like the surging crude oil price along with the sluggishness of US economic growth and increasing inflationary pressures that led the investors to take cautious approach to book their positions and pushed the market to bearish zone. Also the expiry of derivatives contract on coming Thursday also adds to the sentiments. From the sectoral front, the metal, capital goods, banking and reality stocks were not in favour due to lack of support. However, the IT stocks gave a bit of support to the market as some buying was seen from these baskets. The market breadth was negative as 667 stocks closed in green while 2043stocks closed in red and 48 stocks remained unchanged.

The BSE Sensex closed lower by 301.14 points at 16,348.50 and NSE Nifty fell by 71.5 points to close at 4,875.05. The BSE Mid Cap and Small Cap closed down by 176.34 points and 199.23 points to 6,760.77 and 8,318.20 respectively.

Losers from the BSE are J P Associates (5.58%), Ambuja Cement (5.38%), BHEL (5.21%), Reliance Comm Ltd (5.08%), ICICI Bank Ltd (4.29%), HDFC (3.92%), Maruti Suzuki (3.83%), ITC Ltd (3.70%), Grasim Industries Ltd (3.51%) and Hindalco (3.39%).

Metal index closed lower by 452.59 points at 16,343.21, losers are Sh Precoated (6.02%), Jindal Saw (5.20%), Welspan Gujarat SR (4.92%), Ispat Indus (3.82%), Jindal Steel (3.75%), Steel Authority (3.44%) and Sterlite In (3.44%).

The Capital Goods index was down by 358.74 points to close at 12,833.68. Major losers are Praj Ind Ltd (6.61%), BHEL (5.21%), Thermax Ltd (5.19%), Bharat Electr (5.18%), Alstom Proje (4.32%) and Kirloskar Br (3.50%).

The Banking index closed lower by 292.91 points at 7,939.25. Losers are Federal bank (6.09%), Kotak Bank (5.99%), Indian Overseas Bank (4.75%), Axis Bank (4.61%), ICICI Banl Ltd (4.29%), and Allahabad Bank (4.03%).

The Reality index closed down by 170.05 points at 7,340.09. Losers are Housing Development (4.76%), Ansal Infra (4.29%), Penland Ltd (4.24%), Akruti City (3.95%), and Sobha Dev (3.89%).

The Oil & Gas index decreased by 154.61 points at 10,820.65. Losers are Aban Offshore (5.99%), Essar Oil Ltd (3.83%), BPCL (2.88%), Reliance (2.12%) and Reliance Nat Res (1.79%).

Mid Session Market

The market is still trading weak as strong selling pressure continued across the board mainly led by the Capital Goods, Bank, Metal and Power stocks. However, significant buying witnessed in the IT stocks. The BSE Sensex is hovering around the 16, 400 mark and the NSE Nifty is trading near the 4900 mark. The broader market is also trading with a deep cut and in line with the benchmark index.

The overall market breadth is negative, as 627 stocks are advancing while 1792 stocks are declining and the 56 stocks remained unchanged on BSE.

The BSE Mid cap is lower by 128.45 points at 6,808.66 and the BSE small Cap slipped by 133.74 points to trade at 8,383.69.

At 12.30 pm, BSE Sensex was at 16,421.99 down by 227.65 points and Nifty was at 4,889.95 down by 56.60 points.

BSE IT index inclined by 53.43 points to trade at 4,394.41 as TCS (2.96%), Infosys Technologies (1.60%), Wipro (0.55%) and HCL Technologies (0.44%) are trading in green.

BSE Oil & Gas index was trading 70.84 points lower at 10,904.42 as RPL (1.41%), BPCL (1.28%) and Gail India (0.77%) are trading in red.

BSE Metal index dropped by 271.84 points to trade at 16,523.96. The major losers are SAIL (3.07%), Tata Steel (2.21%), Hindalco Industries (2.20%) and Sterlite Industries (1.85%).

BSE Capital goods index declined by 286.30 points to 12,906.12. The main losers are BHEL (4.66%), L&T (2.95%), ABB (1.36%) and Siemens (1.25%).
BHEL has posted a decline of 3.43% in its net profit at Rs11108.70mn for the quarter ended March 31, 2008 as compared to Rs11503.70mn for the quarter ended March 31, 2007. However, for the year ended March, 31 2008, the company has posted an incline in its net profit by 18.41% to Rs 28593.40 mn as compared to Rs24147.00mn for the year ended March 31, 2007.

BSE Bankex index is trading lower by 144.90 points at 8,087.26. Losers are SBI (2.22%), HDFC Bank (1.48%), ICICI Bank (1.39%) and PNB (0.73%).

BSE Realty decreased by 84.13 points to 7,426.01. Leading to its fall are HDIL (3.05%), Parsavnath (2.61%), Ansal Infrastructure (2.56%) and Purvankara (2.60%).

BSE Power index slipped by 49.94 points to trade at 3,152.85 as Reliance Energy (3.11%), Tata Power (2.25%), NTPC (1.58%) and Power Grid (1%) are trading in negative.
Suzlon Energy is trading higher by (1.79%). The company has lined up funds which is required to increase its stake in REpower Systems AG- the German wind power equipment manufacturer. The company will be acquiring 53% stake held by French energy major Areva and Martifer, a Portugal based real estate business group.

BSE Auto declined by 72.87 points to 4,547.03. Leading to its fall are Maruti Suzuki (3.88%), Tata Motors (1.53%), Mahindra & Mahindra (1.37%) and Hero Honda (1.35%).

Pre Session Market

The Indian Market is expected to have negative opening on the back of weak global cues as the US market closed in red while the Asian markets are going through negative sentiment. On Friday, the Indian market closed downbeat after giving up its earlier gains due to heavy selling pressure in key indices. The market opened with the positive attitude tracking the global cues but was not able to sustain the momentum after release of inflation figure which was more than expectation as stood at 7.82% as against 7.83% of previous week. This led the investors to book their positions which in turn forced the market to close in red. The metal and oil & gas stocks were not in favour on account of heavy selling force. The BSE Sensex closed lower by 257.47 points at 16,649.64 and NSE Nifty fell by 78.9 points to close at 4,946.55. We expect that the market may suffer during the trading session.

On Friday, the US market closed in negative territory. The Dow Jones Industrial Average (DJIA) closed lower by 145.99 points at 12,479.63 along with NASDAQ fell by 19.91 points to close at 2,444.67 and S&P 500 dropped by 18.42 points to close at 1,375.93.

Indian ADRS ended down. In technology sector, Satyam fell by (3.40%) along with Wipro by (2.50%), Infosys by (2.47%) and Patni Computers by (0.16%). In banking sector, Infosys bank and HDFC bank decreased by (3.64%) and (1.37%) respectively. In telecommunication sector, Tata Communication and MTNL dropped by (1.37%) and (0.61%). Sterlite industries inclined by (3.71%).

Today the major stock markets in Asia are trading weak. Hang Seng index is trading lower by 569.89 points at 24,144.18 along with Japan’s Nikkei trading down by 312.35 points at 13,699.85 and Taiwan Weighted trading at 8,717.79 down by 116.94 points.

The FIIs Friday stood as net seller in equity. The gross equity purchased was Rs2,226.00 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs2,776.70 Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was (Rs550.70) Crore and net debt was Rs0.00 Crore.

Today, Nifty has support at 4,892 and resistance at 5,027 and BSE Sensex has support at 16,340 and resistance at 16,900.

Post Session Market

Indian market closed on a disappointing note after giving up all its initial gains due to heavy selling pressure in metal, reality, oil & gas, banking and capital goods stocks. After a firm start the market tumbles on the back of weak cues from the Asian markets that closed in red and European markets that opened in negative. Also the inflation for the week ended 10th May 2008 stood at 7.82% as against 7.83% of previous week, which was above the Central bank’s target for a third straight month. This led the investors to take cautious approach to book their positions. The inflation for the year through 15 March 2008 was revised upwards to 8.02% compared to provisional figure of 6.68%.

Sensex closed below 17000 as against its opening and Nifty also slipped below 5000 mark. From the sectoral front, the metal and oil and gas stocks were not in favour as they witnessed most of the selling. The market breadth was negative as 795 stocks closed in green while 1924 stocks closed in red.

SEBI puts an hold on the upfront margining for institutional trades, which was supposed to commence on June 16 this year. SEBI had imposed margining on cash transactions for institutional investors on a T+1 basis for institutional investors, starting April 21 this year. This was supposed to move to upfront margining in June. This step was intended to bring institutional trades on a level-playing field with retail trades.

The BSE Sensex closed lower by 257.47 points at 16,649.64 and NSE Nifty fell by 78.9 points to close at 4,946.55. The BSE Mid Cap and Small Cap closed down by 112.14 points and 146.41 points to 6,937.11 and 8,517.43 respectively.

Losers from the BSE are ITC Ltd (4.24%), ACC LTD (2.66%), Tata Motors (3.57%), JP Associates (3.43%), L&T Ltd (2.47%), Reliance Infra (2.42%), ONG Corp Ltd (2.41%), TCS Ltd (2.40%), Reliance (2.39%) and Hindalco (2.38%).

The Metal index closed lower by 357.15 points at 16,795.18 losers are Hindustan Zinc Co (5.66%), Sterlite In (4.96%), Sh Precoated (4.24%), Ispat Indus (3.80%), Jindal Saw (3.10%), and Hindalco (2.38%).

The Oil & Gas index decreased by 241.28 points at 10,975.26. Losers are Cairn India (4.05%), Reliance Nat Res (3.28%), Essar Oil Ltd (2.76%), ONG Corp Ltd (2.41%) and Reliance (2.39%).

The Reality index closed down by 183.20 points at 7,510.24. Loserss are Indiabull Real (4.30%), Parsvnath (3.54%), Penland Ltd (3.39%), Ansal Infra (3.25%), and Purvankara (2.79%).

The Banking index closed lower by 143.73 points at 8232.16. Losers are PNB (4.45%), Union Bank (3.99%), Fedral Bank (3.57%), Axuis Bank (3.45%), Tech Indian Overs eas (2.36%), and Kotak Bank (2.08%).

The Capital Goods index dropped by 149.49 points to close at 13,192.42. Major losers are KirOil Br (5.28%), Praj Ind Ltd (3.48%), L&T Ltd (2.47%), Alaengineer (2.36%), and Kalpat Pow (2.19%).

Mid Sesion Market

The market has shed some of its opening gains after the announcement of inflation numbers. Inflation numbers for the week ended May 10 stood lower at 7.82% for the week ended May 10 as compared to 7.83% in earlier week. This figure is still higher than the market expectation of 7.78%. The most selling pressure in the Metal, and Auto stocks. However the Consumer Durables, Pharma, IT and FMCG stocks are facing the buying momentum. The broader market is also trading higher.

The overall market breadth is positive, as 1362 stocks are advancing while 1121 stocks are declining and the 89 stocks remained unchanged on BSE.

The BSE Mid cap is higher by 19.06 points at 7,068.31 and the BSE small Cap advanced by 41.22 points to trade at 8,705.06.

At 12.30 pm, BSE Sensex was at 16,975.75 up by 68.46 points and Nifty was at 5,038.70 up by 13.25 points.

BSE IT index inclined by 36.30 points to trade at 4,454.53 as HCL Technologies (2.09%), Infosys Technologies (0.68%), Satyam Computer (0.55%) and TCS (0.01%) are trading in green.

BSE Oil & Gas index was trading 54.61 points higher at 11,271.15 as BPCL (4.99%), Gail India (1.24%), RPL (0.64%) are trading in green.
Gail India will soon sign an agreement with Jammu and Kashmir government for setting up city gas distribution network in eight districts. The company has submitted the revised and final draft MoU to the state in March this year in connection with the project. The project will help in promoting usage of natural gas, its fractions and polymer products.

BSE Metal index dropped by 186.07 points to trade at 16,966.98. The major losers are Sterlite Industries (3.32%), Hindalco Industries (1.95%Tata Steel (1.30%) and SAIL (0.83%).

BSE Capital goods index inclined by 21.05 points to 13,362.96. The main gainers are ABB (0.98%), Punj Lloyd (0.47%), Siemens (0.47%) and SKF India (0.27%).

BSE Bankex index is trading higher by 39.13 points at 8,415.02. Gainers are Bank Of India (1.96%), Yes Bank (1.73%), HDFC Bank (1.31%) and SBI (0.68%).

BSE Realty increased by 27.55 points to 7,720.89. Leading to its gain are Mahindra Life (1.88%), HDIL (1.47%), Penland (0.54%) and Omaxe Ltd. (0.34%).

BSE Power index advanced by 12.63 points to trade at 3,245.45 as Suzlon Energy (2.33%), Areva (1.44%), Reliance Power (0.51%) and Torent Power (0.19%) are trading in positive.

Pre Session Market

The Indian Market is likely to open positive on the back of favorable global cues as the US market closed in green and the Asian markets are trading mixed. On Thursday, the Indian market closed in deep red on the back of heavy selling pressure across key sectors. The investors’ sentiment was week as the international oil prices reached a new high of above $135 per barrel and rising inflation fear was making whole scenario more panic. The market opened on the weak note tracking the negative global cues and hovering in the negative territory till the end of trading. IT shares gained after Indian rupee reached to the level of 43 but were not able to sustain the momentum till the end of trading. Capital goods and metal were not in favour as they witnessed heavy selling pressure. The BSE Sensex closed lower by 336.05 points at 16,907.11 and NSE Nifty fell by 92.2 points to close at 5,025.45. We expect that the volatility may grip the market, as the inflation figure is due today.

On Thursday, the US market closed in green. The Dow Jones Industrial Average (DJIA) closed higher by 24.43 points at 12,625.62 along with NASDAQ up by 16.31 points to close at 2,464.58 and S&P 500 advanced by 3.64 points to close at 1,390.71.

Indian ADRS ended mixed. In technology sector Wipro ended up by (1.77%) along with Satyam by (1.09%), Infosys by (0.66%) and Patni Computers by (0.39%). In banking sector, HDFC bank advanced by (2.15%) while ICICI bank slipped by (0.22%). In telecommunication sector, Tata Communication went up by (0.02%) and MTNL decreased by (0.06%). Sterlite industries declined by (0.81%).

Today the major stock markets in Asia are trading mixed. Japan’s Nikkei is trading higher by 102.50 points at 14,080.96 along with Hang Seng index trading up by 73 points at 24,970.12 while Taiwan Weighted trading at 8,956.56 down by 51.47 points. Asian markets are trading mixed after yesterday’s fall due to unexpected reduction in the weekly unemployment figure of US to the lowest level in a month and dollar value which becomes stronger against yen.

The FIIs Thursday stood as net seller in equity. The gross equity purchased was Rs2,830.30 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs3,441.70 Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was (Rs611.40) Crore and net debt was Rs0.00 Crore.

Today, Nifty has support at 4,936 and resistance at 5,105 and BSE Sensex has support at 16,625 and resistance at 17,278.

Post Session Market

Indian market closed in deep red due to heavy selling pressure across key sectors on the back of crude oil prices and surging inflation. The domestic market opened on the weak note tracking the unfavouring cues from the US market. The market kept on hovering in the negative territory and remained extremely bearish till the end. Market was not able to change the investors’ weak sentiment, as the international oil prices reached a new high of above $135 per barrel, Asian markets ended low and inflation worries demolished the market, which led the Sensex to fall below 17,000 mark. Also, the US Federal Reserve’s steps to cut US economic growth forecasts and signaling of any rate cut further is unlikely also add to the sentiments. The IT stocks attract the investors confidence at the initial stage but it gave up its gains towards the end due to selling pressure across the counters. From the sectoral front, all indices ended in negative but capital goods and metal stocks faced heavy selling pressures. The market breadth was negative as 1684 stocks closed in red while 1040 stocks closed in green and 67 stocks remained unchanged.

The BSE Sensex closed lower by 336.05 points at 16,907.11 and NSE Nifty fell by 92.2 points to close at 5,025.45. Among the Sensex pack, only 1 stock ended in green while 29 stocks in red. The BSE Mid Cap and Small Cap closed lower by 98.80 points and 125.14 points at 7,049.25 and 8,663.84 respectively.

Losers from the BSE are Tata Motors (3.98%), Reliance Infra (3.97%), ICICI Bank Ltd (3.39%), SBI (3.28%), Reliance Communication Ltd (3.16%), Jaiprakash Associates (2.65%), Ambuja Cement (2.61%), L&T Ltd (2.57%) and HDFC Bank Ltd (2.40%).

The Capital Goods index declined by 328.17 points to close at 13,341.91. Major losers are Kirlosker Br (8.81%), Suzlon Energy (5.62%), Areva (4.04%), Punj Lloyd (3.41%), Laskshmi MA W (2.96%) and ABB Ltd (2.79%).

The Bankex index fell by 264.01 points to close at 8,375.89 as Indian Overseas Bank (4.82%), Axis Bank (4.73%), Yes Bank (4.52%), Punjab National Bank (3.70%), ICICI Bank Ltd (3.39%), SBI (3.28%), and Kotak Bank (3.12%) ended in negative territory.

The Metal closed lower by 237.33 points at 17,152.95. Losers are JSW SL (5.01%), Hindustan Zinc (4.57%), Jindal Stain (3.97%), SH.Precoated (3.82%), Steel Authority (3.75%), and Bhushan Steel (3.07%).

The Oil & Gas index closed lower by 216.26 points at 11,216.54. Losers are Reliance Natural Resources (3.35%), HPCL (3.34%), Reliance Petroleum (3.01%), Essar Oil Ltd (2.83%), BPCL (2.77%) and Cairn India (2.40%).

The Realty index closed lower by 211.54 points at 7,693.54. Losers are Akruti City (4.06%), Puravankara (3.67%), Housing Development (3.55%), Ansal Infra (3.45%), Indiabull Real (3.43%), and Penland Ltd (3.13%).

The Auto index fell by 98.07 points to close at 4,684.83 as Esscorts Ltd (4.65%), TVS Motors (4.63%), Ashok Leyland (4.00%), Tata Motors (3.98%), Bharat Forge (3.74%), and MRF Ltd (2.30%) closed in negative territory.

Mid Session Market

The market has recovered a bit from the morning lows but is still reeling under heavy pressure as strong selling in scrips continued across the board. The Bank, Capital Goods. Realty and Power stocks are feeling the most selling pressure. The BSE Sensex is hovering around the 17,000 mark and the NSE Nifty is trading above the 5,000 mark. The broader market is also recovered but is till in red.

The overall market breadth is negative, as 1033 stocks are advancing while 1457 stocks are declining and the 77 stocks remained unchanged on BSE.

The BSE Mid cap is lower by 65.46 points at 7,082.59 while the BSE small Cap slipped by 54.52 points to trade at 8,734.46.

At 12.30 pm, BSE Sensex was at 16,492.69 up by 17.46 points and Nifty was at 5,027.80 down by 89.85 points.

BSE IT index inclined marginally by 2.97 points to trade at 4,456.32 as I-Flex (2.76%), Patni Computer (1.90%), TCS (0.71%) and Satyam (0.10%) are trading in green.
Satyam Computers and GE Healthcare has entered into a comprehensive agreement to support customers deploying healthcare IT solutions based on GE Centricity Enterprise software. Under this agreement, both the companies will plan, design and implement infrastructures for global healthcare providers.

BSE Oil & Gas index was trading 137.94 points lower at 11,294.86 as BPCL (4.09%), RPL (1.92%), ONGC (1.92%) and Gail India (1.02%) are trading in red.

BSE Metal index dropped by 165.12 points to trade at 17,225.16. The major losers are SAIL (2.55%), NALCO (2.38%), Hindalco Industries (1.55%) and Tata Steel (0.67%).
SAIL has signed a memorandum of understanding with Rajasthan State Mines and Minerals Limited (RSMML) for a long-term supply of low silica limestone, a critical input for steel making.

BSE Capital goods index declined by 208.96 points to 13,461.12. The main losers are L&T (1.99%), ABB (1.90%), Siemens (1.51%) and BHEL (1.50%).

BSE Bankex index is trading lower by 167.63 points at 8,472.27. Losers are ICICI Bank (2.89%), PNB (2.88%), HDFC Bank (1.96%) and SBI (1.56%).

BSE Realty slipped by 115.04 points to 7,789.84. Leading to its fall are Indiabull Real (3.34%), Purvankara (2.22%), Ansal Infrastructure (2.18%) and DLF (1.66%).

BSE Power index decreased by 48.61 points to trade at 3,254.31 as Suzlon Energy (3.61%), Reliance Energy (3.07%), NTPC (1.54%) and Power Grid (1.40%) are trading in negative.

BSE Auto index down by 80.57 points to trade at 4,702.33 as Tata Motors (3.91%), Mahindra & Mahindra (2.08%), Maruti Suzuki (1.60%) and TVS Motor (1.50%) are trading in negative.

Pre Session Market

The Indian Market is expected to have a negative opening as the US market closed in deep red and the Asian markets are trading weak. On Wednesday, the Indian market closed with marginally higher after smart recovery from its initial losses. The market lacked the investor’s active participation till mid session on the back of surging crude oil prices above $132 a barrel as well as inflation worries. Though the market opened on the weak note but made a smart turnaround after the mid session due to selective buying across the counters. Irrespective of the negative cues, the oil and gas stocks shines through out the trading session. The BSE Sensex closed marginally higher by 12.98 at 17,243.16 and NSE Nifty also increased by 12.7 points to close at 5,117.65. We expect that the market may remain cautious during the trading session and would look for cues to take further direction.

On Wednesday, the US market closed in red. The US stocks tumbled amid fears the US economy faces stagflation after the Federal Reserve reduced its economic growth forecasts while raising estimates for inflation.

The Dow Jones Industrial Average (DJIA) closed lower by 227.49 points at 12,601.19 along with NASDAQ fell by 43.99 points to close at 2,448.27 and S&P 500 dropped by 22.69 points to close at 1,390.71.

Indian ADRS ended down. In technology sector Wipro fell by (2.19%) along with Satyam by (1.42%), Patni Computers by (1.09%) and Infosys by (0.90%). In banking sector, HDFC bank and ICICI bank slipped by (5.20%) and (4.76%) respectively. In telecommunication sector, Tata Communication and MTNL decreased by (1.81%) and (1.00%). Sterlite industries declined by (0.04%).

Today the major stock markets in Asia are trading weak. Hang Seng index is trading lower by 565.63 points at 24,894.66 along with Japan’s Nikkei trading down by 164.03 points at 13,762.27 and Taiwan Weighted trading at 8,929.46 down by 86.11 points.

The FIIs Wednesday stood as net seller in equity and debt also. The gross equity purchased was Rs3,119.70 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs3,439.50 Crore and gross debt sold stood at Rs99.20 Crore. Therefore, the net investment of equity reported was (Rs319.80)Crore and net debt was (Rs99.20)Crore.

Today, Nifty has support at 4,991 and resistance at 5,174 and BSE Sensex has support at 16,853 and resistance at 17,453.

Post Session Market

The Indian market made a smart recovery after the mid session to close with marginal gains. After a weak start backed the unfavoring cues from the global markets like the surging crude oil prices above $129 barrel as well the rising inflation, the domestic market made a smart turnaround to gain some momentum after the mid session on the back of selective buying across the counters. This was also supported by the by the Asian stocks that ended mixed and the European Market, which is trading green. Irrespective of the selling pressures, the oil and gas stocks shines through out the trading session as most buying interest was seen from these baskets. The metal and capital goods stocks also joined the rally while banking and pharma stocks witnessed selling pressure. The market breadth was positive as 1710 stocks closed in green while 1009 stocks closed in red.

The BSE Sensex closed marginally higher by 12.98 at 17,243.16 and NSE Nifty also increased by 12.7 points to close at 5,117.65. The BSE Mid Cap and Small Cap closed up by 41.99 points at 7148.05 and 130.37 points at 8,788.98 respectively. The BSE Sensex touched intraday high of 17,293.34 and intraday low of 17,041.63.

Gainers from the BSE are Tata Steel (3.09%), Mahindra & Mahindra (2.66%), Reliance (2.53%), BHEL (2.03%), Grasim Industries (1.57%), Tata Motors (1.55%), TCS Ltd (1.18%) and ITC Ltd (1.13%).

Losers from the BSE are HDFC Bank (3.46%), HDFC (3.13%), HUL (2.34%), NTPC (2.15%), Cipla Ltd (2.02%), ICICI Bank (1.77%), Ambuja Cement (1.61%) and Raqnbaxy Lab (1.35%).

The Oil & Gas index closed higher by 263.19 points at 11,432.80. Gainers are Reliance Natural Res (5.04%), Aban Offshore (4.95%), Essar Oil Ltd (4.75%), Reliance Petroleum (3.99%), Reliance (2.53%) and BPCL (1.99%).

The Metal index advanced by 213.31 points to close at 17,390.28. Gainers are Gujarat Nre C (6.28%), Nat Aluminum Co (4.62%), Tata Steel (3.09%), Hindustan Zinc (3.07%), Ispat Industries (2.40%) and Welspan Gujarat (1.88%).

The Capital Goods index inclined by 106.60 points to close at 13,670.08. Major gainers are Kirloskar Br (15.04%), Praj Industries Ltd (11.26%), Punj LLoyd (3.30%), Alstom Proj (3.30%), Areva (3.26%), BHEL (2.03%), and Thermax Ltd (1.26%).

The Bankex index fell by 123.95 points to close at 8,639.90 as HDFC Bank (3.46%), Union Bank (2.83%), Kotak Bank (2.71%), Bank of India (2.53%), CBOP (1.25%), Punjab National Bank (1.18%) and Allahabad bank and Indian Overseas bank (0.55%) closed in negative territory.

The Pharma index closed lower by 24.15 points at 4,245.69. Losers are Glenmark Pharma (3.87%), Sterl Biotec (3.17%), Cipla Ltd (2.02%), Sun Pharma (2.00%), Niholas Pirmal (2.00%), and Aurbindo Pharma (1.53%).

Mid Session Market

The market has made a smart recovery anfd made sharp U turn from the day’s low as strong buying witnessed in the selective scrips mainly led by the Oil & Gas, Consumer Durables, FMCG stocks. However, the Bank, Pharma and Auto stocks are still trading under deep pressure. The BSE Sensex is hovering around the 17,200 mark and the NSE Nifty is trading above the 5,100 mark. The broader market is also facing the buying momentum.

The overall market breadth is positive, as 1371 stocks are advancing while 1051 stocks are declining and the 84 stocks remained unchanged on BSE.

The BSE Mid cap is higher by 26.51 points at 7,132.58 while the BSE small Cap advanced by 76.01 points to trade at 8,734.62.

At 12.30 pm, BSE Sensex was at 17,247.64 up by 17.46 points and Nifty was at 5,109.70 up by 4.75 points.

BSE Oil & Gas index was trading 124.64 points higher at 11,294.25 as Essar Oil (4.51%), RPL (2.96%), ABN Offshore (2.49%), BPCL (1.59%) and HPCL (1.12%) are trading in green.

BSE Metal index dropped by 81 points to trade at 17,095.97. The major losers are SAIL (1.47%), Sterlite Industries (0.97%) and Hindalco Industries (0.83%).

BSE IT index slipped by 25.36 points to trade at 4,441.79 as HCL Technologies (1.05%), Infosys Technologies (0.88%), TCS (0.43%) and Wipro (0.38%) are trading in red.

BSE Capital goods index declined by 23.05 points to 13,540.43. The main losers are BEML (1.21%), ABB (0.57%), Bharat Electical (0.23%) and Havells India (0.25%).

BSE Bankex index is trading lower by 165.67 points at 8,598.18. Losers are PNB (2.97%), HDFC Bank (2.61%), ICICI Bank (2.29%) and SBI (0.51%).

BSE Realty slipped by 29.50 points to 7,864.60. Leading to its fall are DLF (1.34%), Ansal Infrsastructure (0.94%), Sobha Developers (0.26%) and Unitech (0.25%).

BSE Power index decreased by 15.35 points to trade at 3,289.44 as NTPC (2.15%), Suzlon Energy (1.73%), Tata Power (1.10%), Power Grid (0.68%) and Reliance Energy (0.55%) are trading in negative.

BSE Auto index down by 45.95 points to trade at 4,717.74 as Hero Honda (2.26%), Maruti Suzuki (1.61%), Tata Motors (0.42%) and Mahindra & Mahindra (0.28%) are trading in negative.

Pre Session Market

The Indian Market is likely to have a negative opening as the US market closed in red as well as the Asian markets are trading on the back foot. On Tuesday, the Indian market closed in negative. The investors did not showed their active participation during the trading session due to the unfavouring cues from the global markets like the surging crude oil prices above $129 a barrel and higher inflation due to depreciating rupee against the US dollar led the investors to take cautious steps to book their further positions. The market opened on the weak note tracking the negative global cues and kept on hovering in the negative territory through out the session and showed no sign of recovery till the close of the session. The banking and reality stocks were not in favour on account of heavy selling pressure. The BSE Sensex closed lower by 204.76 at 17,230.18 and NSE Nifty fell by 52.75 points to close at 5,104.95. We expect that the market may decline further during the trading session.

On Tuesday, the US market closed in red. The Dow Jones Industrial Average (DJIA) closed lower by 199.48 points at 12,828.68 along with NASDAQ fell by 23.83 points to close at 2,492.26 and S&P 500 dropped by 13.23 points to close at 1.413.40.

Indian ADRS closed in red. In technology sector Patni Computers fell by (3.88%) along with Infosys by (2.61%), Satyam by 1.40% and Wipro by (1.19%). In banking sector, HDFC bank and ICICI bank slipped by (4.64%) and (3.24%) respectively. In telecommunication sector, Tata Communication and MTNL decreased by (1.86%) and (1.38%). Sterlite industries declined by (0.58%).

Today the major stock markets in Asia are trading weak. Japan’s Nikkei is trading lower by 279.21 points at 13,880.88 along with Han Seng index trading down by 237.83 points at 24,931.63 and Taiwan Weighted trading at 8,996.80 down by 72.09 points.

The FIIs Tuesday stood as net buyer in equity and in debt also. The gross equity purchased was Rs2,882.70 Crore and the gross debt purchased was Rs4.90 Crore while the gross equity sold stood at Rs2,825.60 Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was Rs57.10 Crore and net debt was Rs4.90 Crore.

Today, Nifty has support at 4,978 and resistance at 5,152 and BSE Sensex has support at 16,762 and resistance at 17,395.

Post Session Market

Indian market closed in deep red due to unfavoring cues from the Asian markets as well as surging crude oil prices above $127 a barrel led to the heavy selling across key sectors. The domestic market opened on the weak note tracking the negative global cues and kept on hovering in the negative territory through out the session and showed no sign of recovery. Further, it turned in uneven, continued to trade sharply lower through out the trading session. Investors took cautious approach to book their position. From the sectoral front, the banking and reality stocks were not in favour on account of heavy selling pressure. The market breadth was negative as 1431 stocks closed in red while 1292stocks closed in green.

The BSE Sensex closed lower by 204.76 at 17,230.18 Nifty fell by 52.75 points to close at 5,104.95. The BSE Mid Cap closed lower by 23.64 points at 7106.06 and Small Cap ended higher by 38 35 points at 8,658.61.

Losers from the BSE are Jaiprakash Associates (5.22%), Reliance Infra (4.53%), BHEL (3.28%), State bank of India (2.85%), Bharti Airtel (2.65%), NTPC Ltd (2.64%), HDFC Bank Ltd (2.51%) and TCS Ltd (2.40%).

The Bankex index fell by 177.43 points to close at 8,763.85 as Bank of India (5.14%), Axis bank (3.58%), State bank of India (2.85%), CBOP (2.63%), HDFC Bank Ltd (2.51%) and Yes bank (2.34%) closed in negative territory.

The Realty index closed lower by 150.15 points at 7,894.10. Losers are Pheonix Mill (5.15%), Mahindra Life (3.00%), Unitech Ltd (2.67%), Indiabull Real (2.52%), Anant Raj Ind (2.35%), and DLF Ltd (1.95%).

The PSU stocks ended down by 142.12 points to close at 7651.74 and the losers are Bank of India (5.14%), BHEL (3.28%), Corporation (2.88%), NMDC Ltd (2.87%), Hindustan Petroleum Corporation Ltd (2.83%) and State bank of India (2.85%).

The Capital Goods index declined by 133.27 points to close at 13,563.48. Major losers are BHEL (3.28%), ABB Ltd (3.19%), Praj Industries Ltd (2.17%), Kirloskar Br (2.03%), Areva (1.84%) and Elecon Eng C (1.78%).

The Oil & Gas index closed lower by 119.97 points at 11,169.61. Lossers are Essar Oil Ltd (3.26%), Hindustan Petroleum Corporation Ltd (2.83%), GAIL India (2.50%), Bharat Petrolium Corporation Ltd (2.49%) and ONG Corp Ltd (1.54%).

Mid Sesion Market

The market is still trading under pressure as significant selling in scrips continued among the selective scrips. The most selling pressure is witnessed in the Bank, Realty, Capital Goods and Oil & Gas stocks. However, the Metal and IT stocks have maintained their opening gains and are trading higher. The BSE Sensex is hovering around the 17,200 mark and the NSE Nifty is trading above the 5,100 mark. The broader market is also trading flat.

The overall market breadth is positive, as 1434 stocks are advancing while 1017 stocks are declining and the 84 stocks remained unchanged on BSE.

The BSE Mid cap is lower by 17.38 points at 7,112.32 while the BSE small Cap advanced by 51.19 points to trade at 8,671.45.

At 12.30 pm, BSE Sensex was at 17,234.94 down by 200 points and Nifty was at 5,097.60 down by 60.10 points.

BSE Metal index surged by 145.23 points to trade at 17,203.24. The major gainers are Sterlite Industries (4.75%), JSW Steel (2.16%), Bhusan Steel (2.80%) and Jindal Saw (1.89%).
SAIL is trading lower by (2.02%) as the company enters into a memorandum of understanding with the construction equipment company Bharat Earth Movers Ltd for supply of earth moving equipment and spares. As per the agreement, SAIL shall purchase a total of 261 mining equipment worth Rs477 crore over a period of next three years.

BSE IT index advanced by 34.17 points to trade at 4,501.72 as I-flex (3.58%), Infosys Techologies (1.92%), Satyam Computer (1%) and Moser Baer (0.73%) are trading in green.

BSE Capital goods index dropped by 112.14 points to 13,584.61. The main losers are BHEL (2.27%), ABB (1.29%), L&T (1.13%) and Siemens (0.65%).

BSE Bankex index is trading lower by 122.96 points at 8,818.32. Losers are SBI (2.10%), ICICI Bank (1.53%), HDFC Bank (1.36%) and PNB (1.03%).

BSE Realty slipped by 64.64 points to 7,979.61. Leading to its fall are Unitech (2.18%), Mahindralife (1.89%), India Bull Real (1.35%) and Penland (0.68%).

BSE Oil & Gas index was trading 78.81 points lower at 11,210.77 as BPCL (3.63%), Essar Oil (2.95%), ONGC (1.49%) and Indian Oil (1%) are trading in red.

BSE Power index declined by 12.13 points to trade at 3,320.36 as GVK Power (2.56%), Crompton Greaves (1.26%), Power Grid (0.53%) and Torent Power (0.42%) are trading in negative.

BSE Auto index improved by 0.94 points to trade at 4,758.24 as TVS Motor (2.39%), Ashok Leyland (1.66%), Tata Motors (0.78%) and Hero Honda (0.70%) are trading in positive.

Pre Session Market

The Indian Market is likely to have a negative opening as the US market close mixed following a pullback in technology sector and the Asian market are trading on the back foot as crude oil surged to a new record of $127 per barrel. On Friday, the Indian market closed in green. It opened with handsome gain due to the strong positive cues from the global market but was unable to sustain the gain. It turned volatile due to inflation worries. But at last the market managed to regain its momentum to close in the positive territory. From the sectoral front, the metal and bankex stocks were in limelight because most of the buying was seen from these baskets. The BSE Sensex closed higher by 81.40 points at 17,434.94 and NSE Nifty closed up by 42.45 points at 5,157.70. We expect that the market may remain choppy during the trading session.

On Monday, the US market ended mixed. The Dow Jones Industrial Average (DJIA) closed higher by 41.36 points at 13,028.16 along with S&P 500 went up by 1.28 points to close at 1,426.63 and NASDAQ closed down by 12.76 points to close at 2,516.09.

Indian ADRs closed mixed. In technology sector, Wipro advanced by (1.13%) while Infosys went down by (1.09%) along with Patni Computers by (0.52%), and Satyam also went up by (0.27%). In banking sector, HDFC bank went up by (1.12%) and ICICI bank by (0.27%). In telecommunication sector, Tata Communication and MTNL ended higher by (0.59%) and (1.42%). Sterlite Ind went up by (2.80%).

Today the major stock markets in Asia are trading lower. Hang Seng index trading lower by 404.60 points at 25,337.63 along with Japan’s Nikkei is trading down by 45.49 points at 14,224.12 and Taiwan Weighted trading at 9,238.98 down by 56.22 points.

The FIIs on Friday stood as net buyer in equity. The gross equity purchased was Rs3135.40 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs2,405.50 Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was Rs729.900 Crore and net debt was Rs 0.00.

Today, Nifty has support at 5,057 and resistance at 5,228 and BSE Sensex has support at 17,115 and resistance at 17,745.

Post Session Market

Indian market closed higher due to the positive cues from global markets that led the investors to take fresh positions during the trading session. The Indian markets opened on a strong note but was unable to sustained at the higher levels as the profit booking prevailed. The volatility gripped the since the initial bell as the declaration of the inflation figures was round the corner. The inflation for the week ended 3rd May 2008 surged to its highest level in nearly 4 years to 7.83% as against 7.61% reported last week. But at last the market managed to regain its momentum to close in the positive territory. From the sectoral front, the metal and bankex stocks were in limelight because most of the buying was seen from these baskets. The market breadth was positive as 1547 stocks closed in green while 1137 stocks closed in red.

The BSE Sensex closed higher by 81.40 points at 17,434.94 and NSE Nifty closed up by 42.45 points at 5,157.70. The BSE Mid Caps and Small Cap closed higher by 49.45 points and 73.85 points at 7,129.70 and 8,620.26 respectively.

Gainers from BSE are Ranbaxy Lab (3.29%), Reliance Communication Ltd (2.18%), HUL (2.14%), HDFC Bank Ltd (1.77%), J P Associates (1.69%), SBI (1.39%) and ICICI Bank Ltd (1.34%).

Losers from the BSE are Ambuja Cement (1.07%), Infosys Tech (1.07%), Housing Development Finance Co (0.95%), TCS Ltd (0.94%), Bharti Airtel (0.57%), and Cipla Ltd (0.56%).

The Metal index advanced by 317.64 points to close at 17,058.01. Gainers are JSW SL (7.48%), Steel Authority (7.33%), Gujarat Nre C (6.05%), Sterlite Induastries (2.59%), Ispat Industries (1.83%) and Nat Aluminum Co (1.28%).

The Banking index closed up by 135.27 points at 8,941.28. Gainers are Punjab National Bank (6.09%), Bank of India (5.69%), Kotak Bank (2.02%), Central bank (1.93%), HDFC bank Ltd (1.77%) and CBOP (1.64%).

The Capital Goods Index closed higher by 95.95 points at 13,696.75. Gainers are Kirloskar Oil Eng (6.10%), Suzlon Energy (5.61%), Elecon Eng (2.25%), Lakshmi Ma W (1.47%), Aiaengineer (1.38%) and L&T (1.14%).

The Oil & Gas index ended higher by 83.82 points at 11,289.58. Gainers are Aban Offshore (7.95%), Bharat Petroleum Corporation Ltd (5.59%), Cairn India (4.14%), Hindustan Petroleum Corporation Ltd (3.76%) and Indian Oil (2.71%).

The Health Care index moved forward by 35.49 points to close at 4,321.48. Gainers are Matris Lab (7.70%), Lupin Ltd (5.05%), Bil Care Ltd (3.52%), Ranbaxy Lab (3.29%), Sun Pharma Ltd (2.52%), and Cadila Healthcare (1.71%).

Mid Session Market

The market is little bit volatile and is trading higher. The inflation data for the week ended May 3 stood at 7.83% as against 7.61%. It was way above the market expectations of 7.55-7.59%. The significant buying support is seen in the Bank, Capital Goods, Power and Realty stocks. The BSE Sensex is hovering around the 17,400 mark and the NSE Nifty is trading above the 5,150 mark. The broader market is also trading with significant gains.

The overall market breadth is positive, as 1434 stocks are advancing while 1017 stocks are declining and the 84 stocks remained unchanged on BSE.

The BSE Mid cap is higher by 47.71 points at 7,127.96 and the BSE small Cap advanced by 67.61 points to trade at 8,614.02.

At 12.30 pm, BSE Sensex was at 17,441.82 up by 88.28 points and Nifty was at 5,146.50 up by 31.25 points.

BSE Capital goods index surged by 120.38 points to 13,721.18. The main gainers are L&T (2.21%), ABB (1.54%), Siemens (0.39%) and BEML (0.45%).

BSE Bankex index is trading higher by 99.95 points at 8,905.96. Gainers are PNB (5.76%), Bank of India (4.09%), HDFC Bank (2.57%) and AXIX Bank (1.73%%).

BSE IT index dropped by 31.31 points to trade at 4,455.05 as Infosys Technologies (1.23%), HCL Technologies (1.19%), TCS (1.07%) and Mphasis (0.29%) are trading in red.

BSE Realty advanced by 12.06 points to 8,054.58. Leading to its gains are HDIL (2.28%), Purvankara (1.18%), Omaxe Ltd. (0.97%) and Unitech (0.54%).

BSE Metal index inclined by 17.81% points to trade at 16,758.18. The major gainers are JSW Steel (3.62%), SAIL (2.14%), Sterlite Industries (1.71%) and Sesa Goa (0.99%).

BSE Oil & Gas index was trading 8.81 points higher at 11,214.57 as ABN Offshore (5.79%), Cairn India (3.65%), BPCL (2.20%) and HPCL (1.89%) are trading in green.

BSE Power index inclined by 26.31 points to trade at 3,329.44 as Suzlon Energy (3.23%), Tata Power (3%), Reliance Energy (0.65%) and Power Grid (0.29%) are trading in positive.

BSE Auto index improved by 17.82 points to trade at 4,748.06 as TVS Motor (1.93%), Mahindra & Mahindra (0.67%) and Tata Motors (0.58%) are trading in positive.

BSE Health Care index decreased by 2.14 points to trade at 4,283.85 as Glenmark Pharma (0.72%), Cipla (0.33%), Pfizer (0.19%) and Dr.Reddy (0.03%) are trading in negative.

Pre Session Market

Strong favoring global cues will led the Indian Market to have positive opening today. The Indian market on Thursday closed with good gains on the back of heavy buying throughout the session. It opened with a huge gap up due to the strong positive cues from the global market and the easing of the crude oil prices, which led the investors’ to show positive attitude in early session. The market gained the further momentum after the mid session to close on a satisfactory note. The capital goods and metal stocks remained in the limelight as it witnessed most buying during the trading session. The BSE Sensex closed higher by 375.19 points at 17,353.54 and NSE Nifty went up by 103.50 points to close at 5,115.25. We expect that the market may extend its yesterday’s gains during the trading session and the declaration of the inflation figure by the government in the later half will give further direction to the market.

The cost of trading in Indian equities could rise marginally as brokerages will levy 12.36% service tax on transaction charge, auction commission and bad delivery auction commission from today. It will be charged on all market segments, but it would not effect the trading too much as the rise will be marginal.

On Thursday, the US market closed in green. The Dow Jones Industrial Average (DJIA) closed higher by 94.28 points at 12,992.66 along with NASDAQ went up by 37.03 points to close at 2,533.73 and S&P 500 also went up by 14.91 points to close at 1,423.51.

Indian ADRs closed firmly. In technology sector, Infosys went up by (5.08%) along with Patni Computers by (2.61%), Wipro by (1.64%) and Satyam by (1.58%). In banking sector, ICICI bank grew by (3.33%) and HDFC bank by (3.54%). In telecommunication sector, MTNL and Tata Communication ended higher by (1.33%) and (1.09%). Sterlite Industries advanced by (2.15%).

Today the major stock markets in Asia are trading higher. Hang Seng index is trading up by 229.26 points at 25,742.97 along with Taiwan Weighted trading at 9,222.43 up by 65.25 points and Japan’s Nikkei trading higher by 21.97 points at 14,273.71.

The FIIs on Thursday stood as net buyer in equity and net seller in debt. The gross equity purchased was Rs2,619.70 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs2,361.50 Crore and gross debt sold stood at Rs13.60 Crore. Therefore, the net investment of equity reported was Rs258.10 Crore and net debt was Rs (13.60 Crore).

Today, Nifty has support at 5,043 and resistance at 5,229 and BSE Sensex has support at 17,034 and resistance at 17,792.

Post Session Market

Indian market closed with handsome gains due to the strong favoring cues from global markets as well as reducing of the crude oil price led the investor’s to show strong positive attitude during trading session. After a strong start to the session, the market kept on marching forward throughout the trading session as the buying intensified across the counters. From the sectoral front, the capital goods and metal stocks reported more buying across the counters. The market breadth was positive as 1772 stocks closed in green while 909 stocks closed in red.

Asian market was trading higher on the back of gain in Wall Street overnight after US consumer prices went up less than forecast and easing of crude oil prices.

The BSE Sensex closed higher by 375.19 points at 17,353.54 and NSE Nifty went up by 103.50 points to close at 5,115.25. The BSE Sensex touched an intraday high of 17,366.19 and low of 17,079.94. The BSE Mid Caps and Small Cap closed higher by 90.44 points and 111.92 points at 7,080.25 and 8,546.41 respectively.

Gainers from BSE are Hindalco (6.11%), Reliance Communication Ltd (5.31%), L&T Ltd (4.67%), Reliaqnce (3.66%), ICICI Bank Ltd (3.62%), Infosys Technologies (3.56%) and DLF Ltd (3.36%).

Losers from the BSE are Satyam Comp (3.43%), HUL (1.85%), Tata Motors (1.47%), Tata Stl (0.50%), Ranbaxy Lab (0.16%), and ITC Ltd (0.04%).

The Capital Goods Index closed higher by 454.74 points at 13,600.70. Gainers are Crompton Greaves Ltd (8.13%), Kalpat Power (5.04%), L&T Ltd (4.67%), Kirlosker Br (4.20%), Areva (3.65), Alstom Proje (3.10%), and Havells India (3.06%) Suzlon Energy (3.06%)..

The Metal index closed up 305.19 by points at 16740.37. Gainers are Hindalco In (6.11%), Nat Aluminum Co (3.87%), JSW SL (3.68%), Jindal Steel (3.27%), Sesa Goa Ltd (2.86%) and Maharastra Sea (2.16%).

The Oil & Gas index closed higher by 288.84 points at 11,205.76. Gainers are Reliance (3.66%), Reliance Natural Resources (2.55%), Essar Oil Ltd (1.72%), Reliance Petroleum (1.66%) and Cairn India (1.23%).

The Realty index closed higher by 264.87 points at 8,042.52.Gainers are Pheonox Mill (5.94%), Housing Development (4.98%), Parsvnath (4.94%), Akruti City (4.54%), Unitech Ltd (4.25%), and DLF Ltd (3.36%).

The Banking index closed up by 209.49 points at 8,806.01. Gainers are Punjab National Bank (5.81%), Yes Bank (5.36%), Kotak Bank (4.06%), Bank of India (3.94%), ICICI Bank (3.62%), and Axis bank (3.30%).

Mid Session Market

The market continued to trade higher and is gaining further momentum as strong buying witnessed across the board mainly led by the Realty, Bank, Capital Goods and Power stocks. The BSE Sensex is hovering around the 17, 200 mark and the NSE Nifty is trading above the 5, 000 mark. The broader market is also trading with significant gains.

The overall market breadth is positive, as 1683 stocks are advancing while 740 stocks are declining and the 90 stocks remained unchanged on BSE.

The BSE Mid cap is higher by 65.90 points at 7,055.71 while the BSE small Cap advanced by 99.99 points to trade at 8,534.48.

At 12.30 pm, BSE Sensex was at 17,208.45 up by 230.10 points and Nifty was at 5,073.70 up by 61.95 points.

BSE Realty advanced by 180.64 points to 7,958.29. Leading to its gains are Omaxe Ltd. (3.22%), Unitech (2.83%), India Bull Real (2.39%) and Mahindra Life (2.03%).
Unitech is looking at raising around $1bn through a stake sale in its telecom venture- Unitech Wireless to fund its mega expansion plans. Unitech is looking at divesting 30-35% stake to raise $1bn valuing the enterprise at around $3bn.

BSE Metal index surged by252.47 points to trade at 16,687.65. The major gainers are NALCO (3.01%), SAIL (2.56%), Hindalco Industries (1.30%) and Sterlite Industries (1.07%).

BSE Bankex index is trading higher by 175.24 points at 8,771.76. Gainers are ICICI Bank (3.16%), SBI (0.91%), HDFC Bank (0.63%) and PNB (0.31%).

BSE IT index grew by 70.15 points to trade at 4,497.51 as Infosys Technologies (3.46%), Wipro (1.69%), TCS (0.63%) and HCL Technologies (0.44%) are trading in green.

BSE Capital goods index advanced by 281.47 points to 13,427.53. The main gainers are L&T (2.48%), BHEL (2.18%), ABB (1.04%) and Siemens (0.15%).
BHEL would set up integrated coal gasification combined cycle power plant with Andhra Pradesh Power Generation Corporation (APGenco) at Vijaywada. The company has signed a mou with APGenco.

BSE Oil & Gas index was trading 151.83 points higher at 11,068.75 as Cairn India (2.25%), ONGC (0.93%), RPL (0.38%) and GAIL India (0.08%) are trading in green.

BSE Power index inclined by 47.64 points to trade at 3,282.16 as Tata Power (1.81%), Reliance Energy (1.56%), Suzlon Energy (0.97%) and NTPC (0.32%) are trading in positive.
NTPC is looking to borrow over Rs 105,000 crore from domestic and overseas markets in the next four to five years to meet its ambitious target of adding 22,430 mw electricity generation

BSE Health Care index increased by 31.72 points to trade at 4,284.26 as Cipla (1.29%), Ranbaxy Lab. (0.86%) and Sun Pharma (0.48%) are trading in positive.

BSE Auto index improved by 16.67 points to trade at 4,735.36 as Maruti Suzuki (2.25%), Mahindra & Mahindra (1.43%) and TVS Motor (0.61%) are trading in positive.

Pre Session Market

The Indian Market is likely to have a positive opening on the back of strong global cues. On Wednesday, the Indian market closed on green on the back of heavy buying towards the end of the session. However, it opened in red on the back of mixed cues from the global market and this led the investors’ to show some cautious behavior in early session to book their positions but it managed to gather the momentum to close with good gains. The metal stocks remained in the limelight as it witnessed most buying during the trading session. The BSE Sensex closed higher by 225.49 points at 16,978.35 and NSE Nifty went up by 53.95 points to close at 5,011.75. We expect that the market may gain some grounds during the trading session.

On Wednesday, the US market closed in green. The Dow Jones Industrial Average (DJIA) closed higher by 66.20 points at 12,898.38 along with S&P 500 went up by 5.62 points to close at 1,408.66 and NASDAQ also went up by 1.58 points to close at 2,496.70.

Indian ADRs ended higher. In technology sector, Patni Computers went up by (5.59%) along with Infosys by (3.05%), Wipro by (2.61%) and Satyam went down by (0.76%). In banking sector, ICICI bank went up by (1.96%) and HDFC bank dropped by (0.46%). In telecommunication sector, MTNL and Tata Communication ended higher by (2.47%) and (2.10%). Sterlite Ind went up by (2.35%).

Today the major stock markets in Asia are trading higher. Japan’s Nikkei is trading higher by 144.86 points at 14,263.41 along with Hang Seng index trading up by 87.61 points at 25,621.09 and Taiwan Weighted trading at 9,102.84 up by 84.42 points.

The FIIs on Wednesday stood as net buyer in equity and net seller in debt. The gross equity purchased was Rs3,039.10 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs2,852.90 Crore and gross debt sold stood at Rs25.00 Crore. Therefore, the net investment of equity reported was Rs186.30 Crore and net debt was Rs (25.00 Crore).

Today, Nifty has support at 4,942 and resistance at 5,113 and BSE Sensex has support at 16,653 and resistance at 17,391.

Post Session Market

The Indian markets closed on a firm note on the back of heavy buying towards the end of the session. Though the market opened on a disappointing note due to the mixed cues from the global markets but gathered the momentum after the mid session to keep on marching forward to close with good gains. From the sectoral front, the metal stocks remained in the limelight as most buying was seen from these baskets. The market breadth was positive as 1425 stocks closed in green while 1239 stocks closed in red.

The BSE Sensex closed higher by 225.49 points at 16,978.35 and NSE Nifty closed up by 53.95 points at 5,011.75. It touched an intraday high of 17,014.94 and low of 16,626.35. The BSE Mid Cap and Small Cap closed higher by 33 points and 36.78 points at 6,989.81 and 8,434.49 respectively.

The Metal index surged 687.30 points to close at 16,435.18. Major gainers are Hind Zinc (17.14%), Hindalco inds (6.86%), Jindal Steel (6.07%), Sterlite inds (4.70%), Bhushan Steel (4.60%), Sesa Goa (4.39%) and Tata Steel (4.12%).

The Oil & Gas index closed marginally higher by 9.55 points at 10,916.92 as RPL (3.17%), Cairn India (2.52%), RNRL (2.32%) and Essar Oil (1.34%) closed in green while ONGC (5.85%), IOCL (5.08%), Gail India (3.34%) and BPCL (2.73%) closed in red.

The Capital Goods index grew by 85.09 points to close at 13,146.06. Scrips hat gained are BEML (2.89%), Siemens (2.86%), Praj inds (2.66%), Bharat Elec (1.92%), Punj Lloyd (1.45%), Suzlon Energy (1.43%) and AIA Eng (1.10%).

The IT index closed up by 162.22 points at 4,427.36. Gainers are TCS (7.09%), Niit Techno (5.53%), I-Flex (4.57%), Infosys (4.53%), HCL Tech (4.39%), Tech Mahindra (3.26%), Rolta Ind (3.02%), Wipro (1.90%) and Aptech (1.52%).

The Consumer Durables index advanced by 106.11 points to close at 4,507.56 as Titan Ind (8.40%), Lloyd Ele (4.23%), Gitanjali GE (3.97%) and Rajesh Exports (1.55%).

From the Health Care baskets, Dr. Reddy’s lab (8.34%), Orchid Chem (7.25%), Divi’s lab (3.65%), Bilcare (3.15%), Lupin (3.06%), Apollo Hos (2.29%), Matrix Labs (2.22%) and Ranbaxy Labs (2.09%) closed in green.

Mid Session Market

The market is trading flat and is witnessing a volatile movement. The buying support is witnessed in the Metal, Pharma and IT stocks. However, the Oil & Gas, Bank and Power stocks are reeling under pressure. The broader market is trading flat as the Mid Cap is trading lower whereas the BSE Small Cap is trading higher. The BSE Sensex is hovering around the 16,800 mark and the NSE Nifty is moving around the 5,000 mark.

The overall market breadth is negative, as 1101 stocks are advancing while 1280 stocks are declining and the 94 stocks remained unchanged on BSE.

The BSE Mid cap is lower by 7.26 points at 6,949.55 while the BSE small Cap advanced by 3.62 points to trade at 8,401.33.

At 12.30 pm, BSE Sensex was at 16,835.92 up by 83.06 points and Nifty was at 4,955.25 down by 2.55 points.

BSE Realty advanced by (37.45 points to 7,784.57. Leading to its gains are Mahindra Life (1.17%), DLF (0.34%), Sobha Developers (0.31%) and Omaxe Ltd. (0.12%).

BSE Metal index surged by 379.02 points to trade at 16,126.90. The major gainers are Hindalco Industries (3.14%), Sterlite Industries (2.63%), NALCO (2.30%) and Tata Steel (1.69%).

BSE Bankex index is trading lower by 35.25 points at 8,566.59. Losers are HDFC Bank (1.08%), SBI (0.55%), PNB (0.28%) and ICICI Bank (0.07%).

BSE IT index grew by 60.25 points to trade at 4,325.39 as TCS (2.24%), Infosys Technologies (1.48%), I-Flex (1.09%) and HCL Technologies (0.48%) are trading in green.

BSE Capital goods index advanced by 30.11 points to 13,091.08. The main gainers are Bharat Electical (1.14%), Praj Industries (0.72%), Havells India (0.73%) and BEML (0.24%).

BSE Oil & Gas index was trading 16.90 points lower at 10,890.47 as ONGC (5.43%), Indian Oil (4.64%), Gail India (4.44%) and BPCL (2.50%) are trading in red.

BSE Power index declined by 2.08 points to trade at 3,211.16 as Crompton Graves (2.69%), NTPC (2.29%), Power Grid (0.78%) and Suzlon Energy (0.13%) are trading in negative.

BSE Health Care index increased by 73.67 points to trade at 4,251.92 as Dr.Reddy (5.62%), Ranbaxy Lab. (1.63%) and Sun Pharma (0.82%) are trading in positive.

BSE Auto index improved by 33.72 points to trade at 4,703.67 as Maruti Suzuki (2.32%), Tata Motors (1.07%) and Hero Honda (0.69%) are trading in positive.
Mahindra & Mahindra is trading lower by (1.45%). The company is in talks to acquire the two wheeler manufacturer Kinetic Motors. The move signals M&M’s interest in the two-wheeler segment, which has seen sharp growth and fierce competition in the past few years.

Pre Session Market

The Indian Market is likely to have a negative opening on the back of weak global cues. On Tuesday, the Indian market closing in red due to unfavoring cues from the European markets as well as the rumors that the CPI (M) was withdrawing its support to the Congress-led UPA government led to the negative sentiments during the final hour of the trading session. Later however, the CPI (M) denied the rumor by saying the alliance was strong. Though it opened in green and continued trade strongly but investors’ cautious behaviour during the closing hours force the market to close in negative. The oil stocks lost ground due to the news from oil ministry that the union cabinet is not going to bear 57% of the total under recovery through oil bonds. The BSE Sensex closed lower by 108.04 points at 16752.86 and NSE Nifty fell by 54.85 points to close at 4,957.80. We expect that the market may be volatile during the trading session.

On Tuesday, the US market closed mixed. The Dow Jones Industrial Average (DJIA) closed lower by 44.13 points at 12,832.18 along with S&P 500 fell by 0.54 points to close at 1,403.04 while NASDAQ went up by 6.63 points to close at 2,495.12.

Indian ADRs ended lower. In technology sector, Infosys dropped by (1.28%) along with Satyam by (1.02%), Wipro by (0.99%) and Patni Computers by (1.47%). In banking sector, ICICI bank went up by (0.54%) and HDFC bank dropped by (1.07%). In telecommunication sector, MTNL and Tata Communication slipped by (2.81%) and (0.64%). Sterlite Ind declined by (1.09%).

Today the major stock markets in Asia are trading mixed. Japan’s Nikkei is trading lower by 2.2 points at 13,951.53 along with Hang Seng index trading down by 316 points at 25,236.52 and Taiwan Weighted trading at 9,007.64 up by 18 points.

The FIIs on Tuesday stood as net seller in equity. The gross equity purchased was Rs2,339.00 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs2,464.40 Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was (Rs125.40 Crore) and net debt was Rs0.00 Crore.

Today, Nifty has support at 4,813 and resistance at 5,019 and BSE Sensex has support at 16,368 and resistance at 16,983.

Post Session Market

Indian market closed in red due to negative cues from European markets that led to the profit booking by the investors during the final trading hours. Investors take cautious approach to book their position during closing as oil stocks lost ground due to the news from oil ministry that the union cabinet is not going to bear 57% of the total under recovery through oil bonds. Earlier in February this year, the government claimed that it would bear 57% of the total under-recovery of three oil marketing companies- Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) - through oil bonds. The domestic market opened on strong note on the back of favoring global cues. After remaining in the positive territory for most part of the day, the market lost he grip in the final hours to close on a disappointment note. The investors showed their active participation during the first half of the trading session. From the sectoral front, the oil and gas stocks were not in favour and dropped over 2%. The market breadth was positive as 1410 stocks closed in green while 1305 stocks closed in red.

The BSE Sensex closed lower by 108.04 points at 16752.86 and NSE Nifty fell by 54.85 points to close at 4,957.80. It touched an intraday high of 17,085.63 and low of 16,697.47. The BSE Mid Cap closed higher by 10.90 points and Small Cap closed lower by 5.85 points to 6,956.81 and 8,397.71 respectively.

Losers from the BSE are ONG Corp Ltd (63.08%), ACC LTD (2.66%), Wipro Ltd (2.66%), Reliance (2.08%), Bharti Airtel (2.03%), Ranbaxy Lab (1.84%) and Grasim Industries (1.64%).

The Oil & Gas index closed lower by 286.32 points at 10907.37. Lossers are Cairn India (8.48%), Essar Oil Ltd (3.95%), ONG Corp Ltd (3.08%), Aban Offshore (2.77%%) and Bharat Petrolium Corp Ltd (2.6%).

The Capital Goods index declined by 60.85 points to close at 13,060.97. Major losers are KirOil Eng (4.98%), Elecon Eng (3.17%), Praj Industries Ltd 2.67%), Thermax Ltd (1.53%), Crompton Greaves Ltd (1.04%) and SKF India (1.00%).

The IT index closed lower by 32.70 points at 4,265.14. Losers are Fiananc Tech (2.91%), Wipro Ltd (2.66%), TCS Ltd (2.33%), NIIT Tech (1.91%), Tech Mahindra (1.75%), and Infosys Techonologies (1.43%).

The Metal index closed higher by 100.57 points at 15,747.88 gainrs are Nat Aluminium Co (6.24%), JSW SL (3.42%), Gujarat Nre C (2.87%), Hindalco (2.83%), Jindal Steel (2.26%), and Tata Steel (1.01%).

The Consumer Durables index closed higher by 60.32 points at 4,401.45. Gainrs are Titan Ind (7.01%), Lloyd Ele En (2.12%), Gitanjali Ge (0.27%), and Rajesh Export (0.10%).

Mid Session Market

The market has maintained its opening gains and is still trading higher as sustained buying in scrips continued across the board. The Realty, Metal, Consumer Durables and Capital Goods stocks are seeing the most buying momentum. The Mid cap and Small Cap stocks are also trading higher and in line with the benchmark index. The BSE Sensex is hovering around the 17,000 mark and the NSE Nifty is moving around the 5,000 mark.

The overall market breadth is positive, as 1906 stocks are advancing while 606 stocks are declining and the 57 stocks remained unchanged on BSE.

The BSE Mid cap is higher by 129.31 points at 7,075.22 while the BSE small Cap advanced by 153.23 points to trade at 8,556.79.

At 12.30 pm, BSE Sensex was at 17,046.15 up by 185.24 points and Nifty was at 5,051.20 up by 38.55 points.

BSE Realty surged by (260.09 points to 7,997. Leading to its gains are India Bull Real (6.03%), HDIL (5.53%), Mahindra Life (3.40%), Ansal Infrastructure (3.17%) and Unitech (2.67%).
Unitech’s subsidiary has applied for the issuance of the licenses for the international long distance services as well as national long distance services.

BSE Metal index surged by 383.75 points to trade at 16,031.06. The major gainers are NALCO (6.65%), Hindalco Industries (4.92%), Tata Steel (2.50%) and SAIL (0.47%).

BSE Bankex index is trading higher by 151.88 points at 8,717.01. Gainers are ICICI Bank (2.25%), PNB (1.36%), SBI (0.98%) and HDFC Bank (0.75%).

BSE IT index grew by 68.52 points to trade at 4,366.36 as Satyam Computer (2.66%), HCL Technologies (2.08%), Infosys Technologies (1.24%) and TCS (0.91%) are trading in green.
Satyam and SAP had entered into a new partnership to give a boost to the technology deployment and improve their return on investment. As per this agreement, Satyam has become a SAP global services partner to help Fortune 1000 companies worldwide to implement SAP solutions and transform business processes.

BSE Capital goods index advanced by 271.41 points to 13,393.23. The main gainers are BHEL (2.31%), L&T (1.93%), Siemens (0.52%) and ABB (0.48%).
BHEL is planning to set up an country''''s biggest 125 MW IGCC power plant at Vijaywada. It will be an integrated Coal Gasification Combined Cycle (IGCC) power plant with Andhra Pradesh Power Generation Corporation (APGenco).

BSE Oil & Gas index was trading 8.62 points higher at 11,202.31 as Indian Oil (3.38%), RNRL (2.33%), HPCL (2.07%) and RPL (1.90%) are trading in green.

BSE Power index inclined by 53.68 points to trade at 3,272.73 as Reliance Energy (4.50%), Suzlon Energy (2.28%), NTPC (0.26%) and Power Grid (0.25%) are trading in positive.

BSE Health Care index increased by 45.79 points to trade at 4,223.10 as Cipla (1.15%), Sun Pharma (0.53%) and Dr.Reddy (0.29%) are trading in positive.
Ranbaxy Laboratories is trading lower by (0.54%) at Rs.491.55. The company has signed a strategic product development agreement with German pharma major Merck for drug discovery and clinical development collaboration in the anti infective field. As per the agreement, both the companies will work together to develop clinically validated anti-bacterial and anti-fungal drug candidates.

BSE Auto index improved by 42.68 points to trade at 4,730.99 as Maruti Suzuki (1.64%), Mahindra & Mahindra (0.60%), Hero Honda (0.50%) and Tata Motors (0.26%) are trading in positive.