India Stock Market: Sensex Up 339.81 Points On Wednesday On Positive Global Cues

Sensex up 339.81 points on Wednesday (June 10, 2009)
-Second consecutive rise
-Positive global cues
-Short covering lifts markets

Sensex (^BSESN) rose 339.81 points or 2.3 to 15466.81
Nifty (^NSEI) rose 104.50 points or 2.3% to 4655.25.
Mid Cap index rose 1.6%. Small Cap rose 0.3%.
BSE 500 was up 2%. Sensex gainers: 23
Of 13 BSE Sectoral indices, 12 recorded gains.
Advancers: 1225, Decliners: 1546, Unchanged: 60
Advance/Decline ratio: 6:7

Sensex Day’s Range: 15580.81 - 15789.62
Nifty Days Range: 4688.92 - 4551.70
52-Week Range: 15,789.62 - 7697.39
52-week % change: -2

Sensex gainers included Tata Power +6.4%, Reliance Infra +6%, HDFC Bank +5.6%, Raqnbaxy Labs +5.4%, ACC +5.4%, Rel Comm +5.3% and BHEL +4.6%.

Sensex losers were: Tata Motors -2%, DLF -1.7%, Sun Pharma -0.8%, State Bank -0.4%, HDFC -0.2%, JP Associates -0.2% and TCS -0.04%.

Power index advanced 3.6% aided by Punj Lloyd +6.7%, Tata Power +6.4%, Rel Infra +6%, Siemens +5.4%, BHEL +4.6% and ABB +4.6%.

Capital Goods index surged 3.5% helped by Usha Martin +9.9%, Punj Lloyd +6.7%, Siemens +5.4%, BHEL +4.6%, ABB +4.6%, Larsen +3.8% and SKF India +3.7%.

Bankex advanced 2.5% assisted by IndusInd Bank +7.7%, Kotak Mahindra Bank +5.8%, HDFC Bank +5.6%, Bank of Baroda +4% and Federal Bank +3.7%.

Healthcare index surged 2.3% aided by Aurobindo Pharma +8.5%, Ranbaxy Labs +5.4%, Dr Reddy’s +4.9%, Piramal Healthcare +4.8% and Glenmark +3.1%.

Other sectoral movers were: Metal +2.1%, FMCG +2.1%, Oil & Gas +2.1%, Teck +1.7%, Auto +1.5%, IT +1.1% and PSU 1%.

Realty was the only sectr, which lost 1.1% helped by HDIL -6%, Sobha Developers -5%, Orbit Corp -5%, Anant Raj Ind -4.1% and Parsvnath -3.6%.

Volume shockers on the BSE:
Unitech 8.1 million shares; JP Hydro 5.9 mln shares & Ispat Ind 5.7 mln shares

Turnover:
Total turnover stood at Rs 1, 07,313.51 crore. This included Rs 25,640.67 crore from the NSE cash segment, Rs 73,359.99 crore from the NSE F&O and the balance Rs 8,312.85 crore from the BSE cash segment.

Buzzers:
Everonn Systems +27.6% at Rs 447.60, Asian Hotels +20% at Rs 362.75, Orient Abrasive +20% at Rs 39.45, Solar Ind +18.7% at Rs 304.70, Prism Cement +15.9% at Rs 45.65, Lanco Infratech +14.5% at Rs 443.60 and REI Six Ten +13.3% at Rs 1290.55.

Heavy Losers:
Prithvi Info -9.7% at Rs 72.95, Kalpena Ind -9.5% at Rs 76.85, Singer India -9.5% at Rs 31.35, CHI Investments -8.6% at Rs 34.55, Sayaji Hotels -7.3% at Rs 53.75, MM Forgings -7.2% at Rs 56.50 and IOL Netcom -6.6% at Rs 47.30.

Oil Refineries rise:
Shares of oil exploration companies like Cairn India, ONGC, Reliance Petroleum and Reliance Industries gained 2-4.8%, as NYMEX Crude July contract was trading at USD 71 a barrel, up 1.5%. IOC and BPCL rose 0.5-1%.

Telecom moves up:
In the telecom sector, Reliance Communication +5.3% and Bharti Airtel rose 2.7%. Tata Communication gained 1.1%.

Satyam jumps 10 pct on second day:
Satyam Computer jumped 10 percent for a second day after the fraud-tainted outsourcer released figures showing it stayed profitable.

Orient Abrasives up 20 pct:
The shares of Orient Abrasive hit 20% upper circuit at Rs 39.45 after it said it would announce issue of bonus shares in its forthcoming meeting on 24 June 2009.

Positive global cues:
Stocks rose around the world and U.S. futures gained, led by commodity producers as oil climbed to a seven-month high and copper and tin reached their best levels since October.

Futures on the Standard & Poor’s 500 Index increased 1.4 percent. Crude oil rose as much as 2.3 percent to $71.65 a barrel in New York, while copper added as much as 1.8 percent to $5,264 a metric ton in London.

Commodities move up:
Commodities surged as China’s government said property sales and investment are accelerating, adding to signs that the world’s third-largest economy is recovering. Consumer confidence in Australia jumped this month by the most in 22 years after the economy unexpectedly avoided a recession, while the American Petroleum Institute said oil supplies fell last week to their lowest level since March.

Foreign Inflow:
Foreign fund inflows of almost $7 billion since mid-March have propelled the benchmark about 90 percent from a 2009 low on March 6. Hopes of faster pace of economic growth in the latter half of the year, and investor-friendly reforms from the re-elected ruling coalition have also boosted sentiment.

US Futures record rise:
U.S. stock index futures pointed to a higher open on Wall Street on Wednesday, with futures for the S&P 500 up 1.3 percent, Dow Jones futures up 1.2 percent and Nasdaq 100 futures up 1.1 percent.

Asian Markets:
Asian markets ended strong. Hang Seng surged 4% and Seoul Composite gained 3.14%. Nikkei rose 2.09% and Straits Times was up 1.76%. Shanghai Composite, Jakarta and Taiwan Weighted gained 0.7-1%.

European Markets:
FTSEurofirst 300 index of top European shares was up 1.9 percent. European markets were quoting: FTSE 100 was +2.2%.
The CAC 40 +2% and the DAX was up 2.5%.

Crude:
Crude was quoting at $71.32 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.

–Central banks around the world have created an enormous amount of liquidity in the system, which is finding its way into classes of assets such as commodities and also into emerging markets.

Subscribe by RSS Subscribe by Email