Market Commentary

Market Activity: Key share indices gained 2% led by bank, technology and FMCG shares. A positive trend is U.S. and Asian markets improved sentiment here.

At 10.24AM, Sensex was at 15281.21, up 286.38 points, or 1.9%, from Wednesday’s close. Nifty was at 4632.50, up 58.55 points, or 1.3%.

FMCG shares gained on reports companies may hike product prices. Heavyweights ICICI Bank and Reliance Industries recouped early losses and were up 6% and 0.1%, respectively. The biggest Nifty gainers were HDFC, up 6%, HCL Technologies, up 4%, and HDFC Bank, up 3%. Among the few laggards, Cairn India fell 5%, and Sterlite Industries was down over 2%.

In the mid trading session, indices had pared their early morning gains during the trade as participants resorted to profit booking at the higher levels. The overall market breadth was negative with losers outnumbering gainers by a ratio of 4.5 to 1 on the NSE. While software, banking and FMCG stocks were garnering investors’ interest, select auto, engineering, Pharma and metal stocks were reeling under selling pressure. At 1.00PM, Sensex was trading at 15,087, up 92 points while the Nifty was trading at 4,568, down 5 points. The rupee was trading at 39.88 to the dollar.

Key share indices ended up today amid choppy trade ahead of derivatives expiry Thursday. Shares of banks, software and FNCG companies were major gainers, while realty companies were worst affected. Sensex closed at 15289.40, up 294.57 points, or 1.9%, from Wednesday after moving between 15056.09 and 15351.31 intraday. Nifty ended at 4609.85, up 35.90 points, or 0.8%. It ranged between 4539.80 and 4649.45. HCL Technologies, up 9%, was the top Nifty gainer, which coupled with 6% and 3% rise in Wipro and Infosys Technologies, respectively, supported 1.8% rise in CNX IT Index. Shares of Cairn India and Tata Steel were worst hit on Nifty, down 8% and 7%, respectively.

Sector Activity :

Tech stocks ended positive with expection: Infosys closed up Rs 1360.45 with volumes of Rs 230.70 crs, TCS closed up at Rs 823.70 with volumes of Rs 68.15 crs, Satyam closed down at Rs 390.25 with volumes of Rs 62.08 crs, and Wipro closed up at Rs 398.70 with volumes of Rs 32.89 crs.

Pharma stocks witnessed down trend with exception: Sun Pharma closed up at Rs 1280.50 with volumes of Rs 82.76 crs, Orchid Chemical closed down at Rs 111.65 with volumes of Rs 69.58 crs, Ranbaxy closed down at Rs 446.45 with volumes of Rs 33.11 crs, and Cipla closed flat at Rs 206.30 with volumes of Rs 30.58 crs..

Banking stocks showed positive activity with exception: In the Public Sector SBI Bank closed up at Rs 1644.20 with volumes Rs 126.78 crs & Bank Of India closed up at Rs 244.75 with volumes Rs 24.69 crs. In the Private sector ICICI Bank closed up at Rs 802.20 with volume of Rs 595.63 crs & Axis Bank closed down at Rs 724.95 with volumes of Rs 93.53 crs.

Auto Stocks closed mixed: Tata Motors closed up at Rs 663.20 with volumes of Rs 70.83 crs & M&M closed up at Rs 667.80 with volumes of Rs 64.90 crs. While in the 2 wheeler segment stocks, Hero Honda closed down at Rs 647.70 with volumes of Rs 32.73 crs, Bajaj Holding closed down at Rs 593.40 with volumes of Rs 11.34 crs.

Cement Stocks showed buying opportunity: ACC closed up at Rs 804.65 with volumes of Rs 20.02 crs, India Cement closed up at Rs 171.90 with volumes of Rs 14.79 crs, Ambuja Cement closed up at Rs 124.45 with volumes of Rs 11.27 crs and Madras Cement closed up at Rs 3201 with volumes of Rs 1.91 crs.

Nifty ended at 4610 up by 36 points

Click here for A critical daily report from the Dealing Desk of the KRC Broking Division that provides our Investor Client with post-market analysis of the day with an action guide charted for the next day of trading. Good Evening KRC presents the technical viewpoint on the market and stocks and has been indexed into the following segments:
* Earning Idea: Technical calls for short term.
* Market Actions: News specific calls with expected action.
* F & O trading call: Derivative strategy for the day.
* Index Trend: Expected movement of the Sensex with range guidance.

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