Indian Markets Up 254.56 Points As Sparing Freight And Passenger Fares Cheer The Markets

Sensex rose 254.56 points or 1.7% to 14913.05
Nifty rose 75.40 points or 1.7% to 4425.25.
Mid Cap index rose 0.8%. Small Cap rose 0.4%.
BSE 500 was up 1.5%. Sensex gainers: 25

All 13 BSE Sectoral indices posted gains.
Advancers: 1341, Decliners: 1263, Unchanged: 82
Advance/Decline ratio: 7:6

Sensex Day’s Range: 14945.85 - 14499.74
Nifty Days Range: 44434.45 - 4298.95
52-Week Range: 15600.30 - 7697.39
52-week change: -4.4%

Sensex gainers included HDFC +7.7%, Tata Steel +4.3%, Mahindra & Mahindra +3.6%, Reliance Infra +3.2% and ICICI Bank +3.1%

Sensex losers were: Hero Honda -1.1%, Hindalco -1%, Sterlite Ind -0.7%, Reliance Communications -0.2% and ITC -0.03%.

Bankex advanced 2.2% led by Punjab National Bank +3.9%, Oriental Bank +3.3%, Union Bank +3.3%, ICICI Bank +3.1% and State Bank of India +2.9%.

Capital Goods index moved up 1.9% aided by Jyoti Structure +5%, L&T +2.8%, Suzlon Energy +2.4%, Everest Kanto +2.2% and ABB +2.1%.

Power index surged 1.8% helped by Lanco Infra +4.4%, GVK Power +4%, Reliance Infra +3.2%, Power Grid +2.7% and Suzlon Energy +2.4%.

Healthcare index climbed 1.8% assisted by Glenmak +7.9%, Cipla +4.8%, Ranbaxy Labs +3.5%, Aurobindo Pharma +3.2% and Glaxo SmithKline +2.3%.

Other sectoral gainers were: Realty +1.2%, Oil & Gas +1%, PSU +0.9%, Auto +0.9%, Consumer Durables +0.6%, Teck +0.6%, Metal +0.5%, FMCG +0.4% and IT 0.2%.

Volume Shockers on the BSE:
Reliance Natural 22.60 million shares, Suzlon Energy 14.94 mln shares, Ispat Industries 13.39 mln shares and Satyam Computer 10.72 mln shares

Turnover:
Total traded turnover stood at Rs 76,376.25 crore. This included Rs 15,971.83 crore the NSE crore from BSE cash segment, Rs 54,841.47 crore from the NSE F&O segment and the balance Rs 5,562.95 cash segment.

Buzzers:
Vishal Info +12.1% at Rs 55.70, Voith Paper +11.8% at Rs 125, Vadilal Ind +11% at Rs 45.80, Aarey Drugs +10% at Rs 39.60 and Nagpur Power +10% at Rs 38.50..

Heavy Losers:
Galaxy Multimedia -11.3% at Rs 25.40, Pantaloon (DVR) -9.1% at Rs 201.50, Geefcee Finance -9.1% at Rs 57.50, Century Plywood -8.9% at Rs 39.45 and Kalpena Ind -8.5% at Rs 68.15.

Market this week:
Sensex +1.1%
Nifty +1.1%
Midcap index +0.3%
Smallcap +0.4%
BSE 500 +1.1%

Union Railway Budget 2009-10:
The railway minister unveiled a mix of populist measures, including cheap tickets for the poor and no increase in freight or passenger fares, as well as steps to boost the sprawling system’s efficiency and finances.

She also said the group will build a 1,000 megawatt electricity plant — India suffers from a severe energy deficit — to power electric locomotives. She said the system would look to introduce double-decker trains, and take advantage of its fibre-optic communications network. Railways will also add 1800 wagons.

Over the five years through March 2009, India’s railways generated a cash surplus of about $18.8 billion.

Railway Budget Beneficiaries:
This will benefit the companies like BEML, Texmaco and Titagarh Wagons.

Economy to grow at 6.5-7% in FY10: Rangarajan
C Rangarajan, Former Reserve Bank Governor and Rajya Sabha MP, said the economy had done well in the recent period.

The growth rate of the economy was particularly affected in the second half of the year. In the second half of the year, the economy grew only at 5.8%. Taking all the factors into account, the trend in exports, the way in which the industrial production is progressing and also the external sector of the economy, I would say that the economy would grow in the current year between 6.5% and 7%.

Asian Markets:
Asian markets closed mixed. Shanghai Composite was up 0.92%. Jakarta and Kospi gained 0.46-0.61%. However, Straits Times fel 0.91% and Nikkei was down 0.61%. Taiwan Weighted and Hang Seng were flat.

European Markets:
European markets were quoting: FTSE 100 was +0.6%. The CAC 40: -0.1% and the DAX was +0.3%.

Crude:
Crude was quoting at $66.64 per barrel.

Optimism:
Friday’s railway budget speech underscored the Congress party-led government’s focus on “inclusive growth” after it was re-elected by a wider-than-expected margin.

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