India Stock Market: Sensex Down 253.24 Points On Friday

Sensex down 253.24 points on Friday (July 10, 2009)
–Major profit booking on monsoon & economic worries

Sensex (^BSESN) fell 253.24 points or 1.8% to 13504.22.
Nifty (^NSEI) fell 77.85 points or 1.9% to 4003.90.
Mid Cap index fell 1.9%. Small Cap fell 1.8%.
BSE 500 was down 1.9%. Sensex losers: 24

Of 13 BSE Sectoral indices, 12 posted losses.
Advancers: 775, Decliners: 1782, Unchanged: 80
Advance/Decline ratio: 4:9

Sensex Day’s Range: 13897.19 - 13418.39
Nifty Days Range: 4129.95 - 3976.80
52-Week Range: 15600.30 - 7697.39
52-week change: -13.4%

Sensex gainers were: Wipro +3.4%, Sterlite Ind +3.3%, Infosys +3%, TCS +1.6%, Maruti +0.7% and HUL +0.2%.

Sensex losers included Reliance Infra -6.5%, JP Associates -5.6%, Reliance Comm -5.4%, HDFC -4.7%, Sun Pharma -4.2% and Reliance Ind -4%.

IT index was up 2.2% led by Wipro +3.4%, Infosys +3%, TCS +1.6%, HCL Tech +0.7% and Oracle +0.6%.

Oil & Gas index fell 3.3% helped by Reliance Natural -5.3%, BPCL -4.2%, GAIL -4.1%, Reliance Petro -4%, Reliance Ind -4% and HPCL -3%.

Power index dropped 2.5% supported by Reliance Infra -6.5%, Lanco Infra -4.8%, Rel Power -4.1%, Suzlon -3.7%, GVK Power -3.1% and Tata Power -3%.

Capital Good index tumbled 2.3% aided by Praj Ind -8.1%, Areva T & D -6%, Areva T & D -6.6%, Alstom Projects -6.2%, AIA Engineering -4.6%, Rel Ind Infra -4.5% and Everest Kanto -4.4%.

Realty index plunged 2.1% facilitated by Peninsula Land -8.2%, HDIL -5%, Orbit Corp -4.8%, Mahindra Life -4.8% and Unitech -3.4%.

Other sectoral losers were: PSU -2%, Bankex -1.9%, Healthcare -1.8%, Consumer Durables -1.7%, Metal 1.4%, Auto -1.3%, FMCG -0.8% and Teck -0.1%.

Volume shockers on the BSE:
Unitech 23.27 million shares, Suzlon 21.08 mln shares and Satyam 20.03 mln shares

Turnover:
Total traded turnover stood at Rs 77,419.75 crore as against Rs 73,861.17 crore on Thursday. This included Rs 14,935.26 crore from the NSE cash segment, Rs 57,891.12 crore from the NSE F&O segment and the balance Rs 4,593.37 crore from the BSE cash segment.

Buzzers:
Pokarna Ltd +17.1% at Rs 56.20, Vishnu Chemical +10% at Rs 38, Atlas Cycle +10% at Rs 121.85, High Energy Batteries +10% at Rs 110.95, Jay Bharat Maruti +9.9% at Rs 40.50, Good Luck Steel +9.9% at Rs 27.80 and Mangalam Timber +9.9% at Rs 25.05.

Heavy Losers:
REI Six Ten -15.6% at Rs 907.05, VST -13.5% at Rs 349.95, Aarey Drugs -12.7% at Rs 36.80, Srei Infra -12.2% at Rs 56, Hitech Plast -10.8% at Rs 49.05, Mahalaxmi Rub -10.4% at Rs 25.85 and Parenteral Drugs -10.1% at Rs 80.80.

Banking shares fall on economic concern:
Bankex fell 1.9%. Bank stocks like SBI, Axis Bank, HDFC Bank, Kotak Mahindra, ICICI Bank, Bank of Baroda and PNB tanked 1-3.6%. In the realty space, HDIL, Orbit Corporation, Mahindra Life, Unitech, Sobha Developer, Ackruti City, Indiabulls Real and Omaxe were down 2.2-5%.

Telecom stocks plummet:
In the telecom pack, Tata Teleservices, Reliance Communication, Idea Cellular, MTNL and Bharti Airtel fell 2-6.5%.

Market this week:
Sensex -10%, Nifty -11%
Midcap -10, Smallcap -11%
BSE 500 -10%

Infosys beats street expectations:
Infosys Technologies announced its Q1FY10 results that were better-than-street-expectations. Its Q1 profit after tax (PAT) went down by only 5% at Rs 1527 crore as against Rs 1613 crore, on quarter-on-quarter basis. Its revenues declined 3% to Rs 5,472 crore as against Rs 5,635 crore (QoQ), which was above the expectations of Rs 5,344.1 crore. EPS for Q1FY09 came in at Rs 26.63 versus 28.13 a share. The stock ended high 3% at Rs 1726.50.

Infosys Guidance:
FY10 revenues seen at Rs 21,416 crore versus Rs 21,747 crore
FY10 EPS seen at Rs 94.59-96 versus previous guidance of Rs 96.6-101.2 a share
Q2 revenues seen at Rs 5,318-5,413 crore versus Rs 5,472 in Q1
Q2 EPS seen at Rs 23.67-24.09 a share versus Rs 26.63 in Q1
Guidance was at exchange rate of Rs 47.91/$ versus Rs 50.72/$ (QoQ).

Mahindra Satyam:
Mahindra Satyam, formerly Satyam Computer Services rose 2 percent tto Rs 74.50 after it said it had signed a 5-year multi-million dollar support contract with GlaxoSmithKline Plc.

Index of Industrial Production (IIP):
India’s industrial output rose by a faster-than-expected 2.7 percent in May from a year earlier, data showed on Friday. Manufacturing production rose 2.5 percent in May from a year earlier. The figure was higher than a forecast for an annual rise of 1.4 percent in a Reuters poll of economists.
China’s Exports fall consecutively eighth months:
China’s exports fell for an eighth month as the global recession cut demand, highlighting the economy’s dependence on stimulus spending to revive growth.

Overseas sales slid 21.4 percent in June from a year earlier, the customs bureau said today on its Web site, after a record 26.4 percent drop in May.

Asian Markets:
Asian markets ended on a flat note.

European Markets:
European markets were quoting: FTSE 100 was -0.7%. The CAC 40: -0.7% and the DAX was -0.7%.

Crude:
Crude was quoting at $59.55 per barrel.

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