India Stock Market: Sensex Up 215.38 Points On Monday

Sensex up 215.38 points on Monday (June 1, 2009)
-Closes 9-month high
- Manufacturing activity expands second month in May

Sensex (^BSESN) rose 215.38 points or 1.5 to 14840.63.
Nifty (^NSEI) rose 111.85 points or 2.6% to 4340.75.
Mid Cap index rose 2.9%. Small Cap rose 3.5%.
BSE 500 was up 2%. Sensex gainers: 23
Of 13 BSE Sectoral indices 11 surged.
Advancers: 2289, Decliners: 542, Unchanged: 40
Advance/Decline ratio: 4:1

Sensex Day’s Range: 14906.81- 14655.49
Nifty Day’s Range: 4545.40- 4450.40
52-Week Range: 16666.03- 7697.39
52-week % change: -11

Sensex gainers included Tata Steel +7.8%, Sterlite Ind +6.8%, ACC +6.4%, NTPC +6.2%, Mahindra & Mahindra +5.3% and HDFC +5.2%.

Sensex losers included ICICI Bank -2.4%, Bhel -2.3%, Bharti Airtel -1.7%, Ranbaxy Labs -1.5% and HDFC Bank -0.7%.

Realty index surged 5.7% led by Unitech +15.6%, Orbit Corp +9.4%, HDIL +8.2%, Peninsula +8%, Phoenix Mills +7.8%.

Metal index advanced 5.3% helped by Welspun Gujarat +14.6%, Guj NRE +9.9%, Jindal Saw 8.9%, Tata Steel +7.8% and Sterlite Ind +6.8%.

IT index climbed 4% assisted by Rolta +12.2%, NIIT +11.4%, Tech Mahindra +10.3%, Moser Baer +9.9%, Oracle Finance +5.1% and Infosys +4.7%.

FMCG index rose 2.8% aided by ITC +5%, United Sprits +4.6%, Godrej Consumer +0.6% and Marico +0.4%.

Consumer Durable index raced 2.7% supported by Videocon +5.7%, Rajesh Exports +5.6%, Gitanjali Gems +3%, Titan Ind +2.4% and Lloyd Electric +1.3%.

Other sectoral movers were: Power +2.6%, Teck +2.3%, Auto +1.9%, PSU +1.6%, Oil & Gas +0.8% and Capital Goods +0.7%.

Sectoral losers were: Bankex -0.9% and Healthcare -0.03%

Volume Shockers on the BSE:
Unitech 42.63 million shares; Suzlon 32.84 mln shares and Satyam Com 32.09 mln shares

Turnover:
Total traded turnover stood at Rs 91,474.41 crore. This included Rs 24,841.97 crore from the NSE cash segment, Rs 58,484.39 crore from the NSE F&O and the balance Rs 8,148.05 crore from the BSE cash segment.

Buzzers:
Voltas +20.6% at Rs 118.20, Hotel Leela +20.4% at Rs 39.50, Blue Bird +20% at Rs 33.90, OCL India +20% at Rs 110.75, Hawkins Cooker +20% at Rs 246.15 and KRBL +20% at Rs 102.70.

Heavy Losers:
Brawn Pharma -11.6% at Rs 30.45, Spectacle Ind -10.2% at Rs 60.10, SPICE -10% at Rs 152.10, GEE -8.2% at Rs 64.05 and Compuage Info -8% at Rs 51.10.

Cairn India surges 13 pct:
Cairn India jumped 12.8 percent to 261 rupees after Goldman Sachs raised its 12-month target price to 290 rupees from 240, saying the energy explorer was set to produce oil from its Rajasthan fields within the next few weeks.

Shipping Shares:
Shipping stocks were in demand due to gains in the Baltic Dry Index, which was up 196 points or 5.9%, to 3,494. Mercator Lines shot up 14.9%. ABG Shipyard, Essar Shipping, Garware Offshore, GE Shipping, Seamec, Shipping Corporation, Shreyas Shipping and Varun Shipping gained 3-8%.

Hotel shares gain:
Hotel stocks witnessed huge buying interest and helped the broader indices to some extent. Asian Hotels, EIH, EIH Associated Hotel, Hotel Leela, Indian Hotels, Kamat Hotels, Oriental Hotels, Royal Orchid and Taj GVK Hotels were up 10-20%. Advani Hotels, Bhagwati Banquet, Jaypee Hotels and Viceroy Hotels gained 5% each.

Manufacturing Activities:
Manufacturing activity in Asia’s third-largest economy expanded for a second month in May on the back of a revival in domestic demand.
The survey numbers came after data on Friday showed India’s economy expanded faster than expected in the March quarter, boosted by strength in the farm and services sector.

China’s manufacturing sector also expanded moderately in May, while a severe euro zone factory recession eased during the month, boosting investor confidence across markets in Asia and Europe.

Growth Forecast:
Macquarie Research said it had raised its growth forecast for India to 7 percent for 2009/10 and to 7.5 percent in the following year after the Friday data.

Asian Markets:
Asian markets saw sharp rally. Hang Seng shot up 3.95% and Shanghai Composite rose 3.36%. Jakarta Composite gained 4.26%. Nikkei went up 1.63% and Straits Times gained 2.19%. Kospi and Taiwan Weighted were up 1.38% and 0.92%.

European Markets:
European markets were quoting: FTSE 100 was up 1.4%. The CAC 40 +2.9% and the DAX was up 2%.

Crude:
Crude was quoting at $67.79 per barrel.

Optimism:
Hefty interest rate cuts by the central bank and government stimulus packages have boosted optimism in recent months that a rebound in domestic consumption will pull the economy out of its slowdown faster than economists had expected.

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