India Stock Market: Sensex Closes At Highest Level Since May 2008

Sensex (^BSESN) up 7.71 points on Thursday (October 1, 2009)
- Highest close since May 21, 2008

Sensex rose 7.71 points or 0.05% to 17134.55
Nifty (^NSEI) fell 0.55 points or 0.01% to 5083.40.
Mid Cap index fell 0.04%. Small Cap fell 0.4%.
BSE 500 was up 0.05%. Sensex gainers: 18

Of 13 BSE Sectoral indices, 6 posted gains.
Advancers: 1123, Decliners: 1663, Unchanged: 82
Advance/Decline ratio: 3:4

Sensex Day’s Range: 17195.61 - 17059.36
Nifty Days Range: 5087.60 - 5004.35
52-Week Range: 17195.61 - 7697.39
52-week Change: -0.4%
All Time High: 21206.77 (10 Jan 2008)

Sensex gainers included Bharti Airtel +4%, Reliance Comm +3.3%, ICICI Bank +2.2%, TCS +2%, Mahindra & Mahindra +1.1% and BHEL +1.1%.

Sensex losers included Maruti Suzuki -2.8%, HDFC -2.8%, Grasim -2.4%, Tata Power -2.2%, Hero Honda -2.1% and Tata Motors -1.9%.

Teck index moved up 1.5% led by NIIT +7.4%, Rolta +7.3%, Bharti Airtel +4%, Relianace Comm +3.3% and TCS +2%.

IT index advanced 0.9% aided by NIIT +7.4%, Rolta +7.3%, TCS +2%, Aptech +1.5% and Tech Mahindra +0.9%.

Bankex climbed 0.8% supported by Axis Bank +2.8%, ICICI Bank +2.2%, Union Bank +1.5%, Punjab Bank +1.5% and State Bank +0.7%.

FMCG gained 0.7% helped by Nestle +4.9%, Godrej Consumer +2%, United Spirits +1%, HUL +0.9% and Dabur India +0.6%.

Other sectoral movers were: PSU +0.3% and Metal +0.2%.

Healthcare index tanked 1.3% due to selling in Dishman Pharma -5.2%, Dr. Reddy’s -3.6%, Wockhardt -3.4%, Sun Pharma Advance -3.4% and Orchid -3.1%.

Auto index declined 0.9% supported by Maruti Suzuki -2.8%, Hero Honda -2.1%, MRF -2%, Tata Motors -1.9% and Ashok Leyland -1.2%.

Other sectoral losers were: Consumer Durables -0.9%, Oil & Gas -0.8%, Power -0.4%, Capital Goods -0.2% and Realty -0.04%.

Volume shockers on BSE:
Ispat Industries 34.26 million shares, 3i Infotech 15.63 mln shares and NIIT 10.63 mln shares.

Turnover:
The market saw total turnover of Rs 81006.15 crore. This included Rs 20111.83 crore from the NSE cash segment, Rs 54343.16 crore from the NSE F&O and the balance Rs 6551.16 crore from the BSE cash segment.

Buzzers:
Bajaj Auto Finance +20% at Rs 286.20, Hardcastle & Waud +20% at Rs 385.60, Laffans Petro +19.95 at Rs 31.05, Tainwala Chemicals +19.8% at Rs 22.05, JSL +17.7% at Rs 100.25 and Minda Ind +14.5% at Rs 193.55.

Heavy Losers:
Omkar Overseas -10% at Rs 103.80, KBS Capital -9.9% at Rs 26.05, Central Bank -8% at Rs 148.35, Tinplate -7.6% at Rs 50.75, Magma Fincorp -7.3% at Rs 174.00, Shree Pacetronics -7.2% at Rs 35.50 and Rungta Irrigation -7.2% at Rs 36.20.

Midcap Gainers
Rolta at Rs 190.05 up 7.28%, Bajaj Holdings at Rs 540.55 up 5.88%, Pidilite Ind at Rs 153.75 up 5.67%, Educomp Sol at Rs 4,934.60 up 5.15% and Edelweiss Cap at Rs 504.65 up 5.11%.

Smallcap Gainers:
Bajaj Auto Fin at Rs 286.20 up 20%, JSL at Rs 100.25 up 17.66%, JSW Holdings at Rs 1,839.90 up 13.91%, Ashtavinayak at Rs 83.20 up 12.13% and 3i Infotech at Rs 98.75 up 11.96%.

Bharti Airtel advnces as MTN deal fails:
Bharti rallied as fears of an earnings impact from its proposed $24 billion merger with South Africa’s MTN were removed after the deal collapsed.

The share jumped as much as 11.6 percent after its talks with MTN failed on Wednesday for the second time in just over a year on South Africa’s reluctance to allow a flagship corporate to lose its national character.

The stock later pared gains to end up 4 percent at Rs 435.35, its best close in almost 2 weeks.

Sri Adhikari Brothers gains 10 pct:
Sri Adhikari Brothers Television Network jumped nearly 10 percent to Rs 28.45 after the company said its board would meet on Oct. 3 to consider fund raising plans for expansion.

Gulf Oil up 5 pct:
Gulf Oil Corporation gained 5 percent to 83 rupees after the firm said its unit IDL Specialty Chemicals Ltd had entered into an agreement with Biocon Ltd to sell its bulk pharmaceutical business.

Market this week:
Sensex rose 2.6 per cent and Nifty advanced 2.5 per cent for the week.

Inflation:
The inflation figure that has been rising for the past three weeks has seen a further rise to 0.83% for the week ended Sep 19 versus 0.37% week-on-week.

Asian Markets:
Asian markets ended lower. Nikkei slipped 1.5%. Straits Times fell 0.6%.Seoul Composite fell 1.7%. However, Taiwan Weighted was up 0.5%.

Concern:
Analysts worry valuations are expensive and may temper future gains.

Markets closed on Friday:
The markets will be shut on Friday, 2nd October 2009 to mark Mahatma Gandhi’s birth anniversary.

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