Sensex Up For 7th Straight Week To Reach 6 Month High

Sensex rose 194.06 points or 1.7% to 11329.05.
Nifty climbed 57.05 points or 1.7% to 3480.75.
Mid Cap index rose 1.9%. Small Cap rose 1.7%.
BSE 500 was up 1.7%. Sensex gainers: 24
All 13 BSE Sectoral indices posted gains.
Advancers: 1533, Decliners: 972, Unchanged: 97

Sensex Day’s Range: 11362.88- 11070.33
Nifty Days Range: 3491.35- 3402.90
52-Week Range: 17735.70- 7697.39
52-week % change: -36.12

Sensex gainers included Mahindra & Mahindra +7%, JP Associates +6.1%, Grasim +5.7%, Bharti Airtel +5.5%, ACC +4.9%, Reliance Infra +3.7% and Rel Comm +3.6%.

Sensex losers were: Ranbaxy Labs -2.4%, HUL -0.9%, Tata Steel -0.7%, Wipro -0.3%, NTPC -0.3% and Infosys -0.1%.

Bankex rose 2.8% aided by IDBI Bank +13.1%, Punjab Bank +5.3%, Axis Bank +5.2%, IOB +4.8%, Bank of India +4%, SBI +3.3% and Oriental Bank +2.9%.

Consumer Durables index shot up 2.3% led by Videocon Ind +9%, Rajesh Exports +3.2% and Blue Star +1.8%.

Capital Goods index moved up 2% helped by Kalapataru Power +7.4%, Punj Lloyd +5.6%, Suzlon Energy +5.1%, Crompton Greaves +3.8%, Lakshmi Machine +3.7% and Praj Industries +3.3%.

Teck index climbed 1.9% supported by HT Media +12.6%, Adlabs Films +9.3%, TV 18 +5.5%, Bharti Airtel +5.5%, Idea Cellular +4.8% and NIIT +4.5%.

Other sectoral movers were: Auto +1.7%, Power +1.5%, Oil & Gas +1.1%, Metal +1.1%, Realty +1%, Healthcare +0.9%, PSU +0.8%, IT +0.3% and FMCG +0.01%.

Volume Shocker s on the BSE:
Unitech 30.80 million shares, IFCI 20.65 million shares, RNRL 18.54 million shares and Suzlon 14.65 mln shares

Turnover:
Total traded turnover stood at Rs 88,540.54 crore. This included Rs 14,907.68 crore from NSE cash segment, Rs 68,374.47 crore from NSE F&O and the balance Rs 5,258.39 crore from BSE cash segment.

Buzzers:
Rel Ind Infra +29.3% at Rs 790, Richa Ind +20% at Rs 61.50, VST +20% at Rs 325.30, Anjani Cement +20% at Rs 27.35, Sunil Hightech +14.7% at Rs 93.40, ABG Shipyard +14.4% at Rs 134.15, Blue Star +14.3% at Rs 60 and Adani Enterprise +13.3% at Rs 439.

Heavy Losers:
Mazda Ltd -9.8% at rs 34, TVS Motors -9% at Rs 30.50, Zee News -6.7% at Rs 35.60, Bodal Chemicals -6.5% at Rs 21.55, Saregama Ind -6.4% at Rs 59.10 and Core Projects -6.2% at Rs 97.95.

Markets This Week:
Sensex +2.8%, Nifty +2.9%
Nifty Junior +5%
Index Gainers: Reliance Power +14%, Reliance Infra +12%, Suzlon +13.5%, Idea +12%
Cement companies: ACC +11.2%, Grasim +10%
BSE Metals +5%: SAIL +8%, Hindalco +3.7%
IT Index +3.7%: Wipro +13.7%
Index Losers: Unitech -13%, Ranbaxy, Nalco -5% each
Non-index gainers: IFCI +12.5%, GVK Power +20%, HDIL +20%, IDFC +13.5%
Buzzers: TVS Motor +25% Birla Power +23%, Shiv-Vani Oil +30%

LIC Housing:
LIC Housing Finance after the mortgage lender said it expected loan disbursements would rise 25 percent in fiscal 2009/10 and planned to borrow Rs 120 billion in FY10 to meet growth plans. The stock spurted 8.1 per cent to Rs 343.95 on the BSE.

Results:
Maruti Suzuki (Rs 802.25):
Maruti Suzuki on Friday reported a surprising 18.5 per cent drop in quarterly net profit, missing forecast, due to higher raw material costs and inventory. Maruti said Q4FY09 net profit fell to Rs 243 crore from Rs 298 crore (YoY) on 31 percent higher income of Rs 6588 crore. For FY09, net profit is down 31 per cent to Rs 1227 crore on 14 per cent higher income of Rs 21, 776 crore.

Corporation Bank (Rs 226.70):
Q4FY09 Net Profit is Rs 260.8 crore+26%, Income Rs 2199 crore +50%. FY09 Net Profit is Rs 892.8 crore +21%, Income Rs 7175 crore +37%. EPS for FY09 is Rs 62.3. P/E 3.6. Eq Rs 143.4 cr. BV Rs 341. P/BV 0.65.

FDI of $40 billion seen in FY10:
Foreign direct investment into India is expected to be at least $40 billion in the year to March 2010 on a favourable outlook, a senior industry ministry official said on Friday. Gopal Krishna, a joint secretary, said the FDI during 2008/09 fiscal year were likely around $37.5 billion, including reinvestment by foreign firms.

Goldman Sachs sees economic recovery in H2FY10:
Global financial major Goldman Sachs (NYSE:GS) expects the Indian economy to recover from slowdown in the second half of this fiscal, if a stable government is formed after general elections.

“The evidence appears to suggest that if a stable government were to come to power, markets would be driven by fundamentals and global cues. In that event, leading indicators suggest to us a recovery in economic activity in the second half of fiscal year 2009-10,” Goldman Sachs said.

British Economy shrinks 1.9 pct in Q1:
Britain’s recession-hit economy shrank by a much larger than expected 1.9% during the first quarter of 2009 compared with the final three months of last year, official data showed on Friday.

Global downturn may be easing: US Treasury Secretary Geithner
The global economy has shown signs that the worst of the recession may be easing in recent weeks, US Treasury Secretary Timothy Geithner wrote in the Financial Times newspaper on Friday.

“In recent weeks, there have been some encouraging signs that the global economic downturn may be slackening,” he wrote. “Conditions in some financial markets have improved and the decline in world trade may be abating.”

Finance ministers and central bankers from the G7, which groups the United States, Britain, Canada, France, Germany, Italy and Japan, meet on Friday afternoon before an evening gathering of the larger Group of 20 that includes key emerging market countries like China, India, Brazil and South Korea.

Asian Markets:
Nikkei fell 1.57% and Kospi declined 1.07%. Jakarta Composite was down 1.25%. Shanghai and Straits Times fell 0.38-0.62%. However, Hang Seng and Taiwan Weighted gained just 0.09-0.29%.

European Markets:
In late morning deals, London’s FTSE-100 of leading shares was up 1.6 per cent, Frankfurt’s DAX-30 gained 1.5 per cent and France’s CAC- 40 was up 1.6 per cent.

Crude:
Oil prices hovered below $50 a barrel on Friday in Asia as investors pondered whether a possible second half recovery will help boost US crude demand, in the doldrums amid rising unemployment and a severe recession.

Benchmark crude for June delivery rose 31 cents to $49.93 a barrel by late afternoon in Singapore in electronic trading on the New York Mercantile Exchange. The contract rose on Thursday 77 cents to settle at $49.62.

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