Market Commentary
 

Market Activity: Key share indices were up over 3% today

tracking the rise in overseas markets. At 10.15AM, Sensex crossed the 16000 mark and was at 16147.08, up 520.46 points, or 3.4%, from Tuesday. Nifty was at 4884.55, up 145.00 points, or 3.1%. 

All Sensex and Nifty shares rose, with bank shares leading gains. ICICI Bank, up 6%, was the top Nifty gainer, while SBI was up 5%. CNX Mid-cap and S&P CNX 500 indices also climbed around 3% each. 

In the mid trading session, Market was off highs with Sensex down over 250 points from the day’s high as investors booked profits. Sensex and Nifty were up nearly 2% compared with 4% gains in early trade. At 12.35PM, Sensex was at 15970.50, up 343.88 points or 2.2%. Nifty was at 4833.10, up 93.80 points or 2%. Financial shares were top gainers after being notable laggards in the last few sessions. ICICI Bank was up 5% and HDFC rose 4%. Tata Steel, Reliance Energy and BHEL, down around 1% each, were major laggards on Nifty. 

Key share indices ended up but off highs as investors locked in profits. Sensex ended at 15750.40, up 123.78 points or 0.6% from Tuesday. Nifty closed at 4754.20, up 14.65 points or 0.3%. Metal and FMCG shares declined, with Tata Steel falling 3% and Hindustan Unilever down 1%. Reliance Energy, down over 5%, was the worst hit on Nifty. Bank shares held on to gains. ICICI Bank and State Bank of India ended up 4% and 2%, respectively. Hero Honda Motors, up 5%, was the top Nifty gainer. 

Sector Activity : 

Tech stocks showed up trend with exception: Infosys closed up Rs 1482.80 with volumes of Rs 206.42 crs, Satyam closed up at Rs 408.40 with volumes of Rs 93.73 crs, Educomp closed down at Rs 3549.35 with volumes of Rs 48.68 crs, and Wipro closed up at Rs 415.25 with volumes of Rs 30.66 crs. 

Pharma stocks closed mixed trend: Orchid Chemical closed down at Rs 159.45 with volumes of Rs 98.12 crs, Sun Pharma closed up at Rs 1237.50 with volumes of Rs 27.77 crs, Ranbaxy closed up at Rs 448.15 with volumes of Rs 23.53 crs, and Cipla closed up at Rs 219 with volumes of Rs 21.16 crs.Banking stocks showed buying opportunity: In the Public Sector SBI Bank up at Rs 1656.20 with volumes Rs 150 crs & Bank Of India closed up at Rs 281.85 with volumes Rs 75.41 crs. In the Private sector ICICI Bank closed up at Rs 784.55 with volume of Rs 369.52 crs & AXIS Bank closed up at Rs 744.60 with volumes of Rs 139.13 crs. Auto Stocks witnessed positive trend with exception: Tata Motors closed up at Rs 635.75 with volumes of Rs 61.54 crs & M&M closed up at Rs 666.70 with volumes of Rs 23.63 crs. While in the 2 wheeler segment stocks, Hero Honda closed up at Rs 740.35 with volumes of Rs 22.06 crs, Bajaj Holding closed down at Rs 650.10 with volumes of Rs 17.43 crs.

Cement Stocks ended up with exception: ACC closed up at Rs 838.80 with volumes of Rs 25.18 crs, India Cem closed up at Rs 191.05 with volumes of Rs 18.93 crs, Ambuja Cement closed down at Rs 120.45 with volumes of Rs 4.89 crs and Birla jute closed up at Rs 199.70 with volumes of Rs 1.58 crs.       

Nifty ended at 4754 up by 15 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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