India Stock Market: Sensex Down 35.91 Points On Thursday

Sensex (^BSESN) fell 35.91 points or 0.2% to 17195.20.
Nifty (^NSEI) fell 9.35 points or 0.2% to 5108.85.
Mid Cap rose 0.6%. Small Cap rose 0.9%.
BSE 500 rose 0.2%. Sensex gainers: 25

Of 13 BSE Sectoral indices 7 posted gains.
Advancers: 1401, Decliners: 1357, Unchanged: 78
Advance/Decline Ratio: 1:1

Sensex Day’s Range: 17350.39 - 17092.83
Nifty Day’s Range: 5152.25 - 5077.10
52-Week Range: 17350.39 - 7697.39
52-week change: -0.9%

Sensex declined marginally Thursday after an initial rise to a 17-month high triggered profit-taking, but slower-than-expected inflation kept the undertone firm.

Sensex gainers included State Bank +2.7%, Tata Power +1.9%, Sterlite Ind +1.8%, ICICI Bank +1.7%, HDFC Bank +1.3% and NTPC +1.3%.

Sensex losers included Bharti Airtel -4.2%, Sun Pharma -3.5%, Reliance Infra -3.4%, Infosys -1.8%, TCS -1.7% and HUL -1.4%.

Metal index rose 1.7% led by Jindal Steel +5.8%, Hind Zinc +3.7%, Guj NRE Coke +2.4%, SAIL +2.4% and Sterlite Ind +1.8%.

Bankex climbed 1.6% helped by Bank of India +6.4%, Yes Bank +6.1%, Union Bank +3.9%, Fed Bank +3.2%, State Bank +2.7% and Allahabad Bank +2.4%.

Other sectoral gainers were: Power 0.5%, PSU +0.5%, Realty +0.4%, Auto +0.1% and Capital Goods +0.1%.

Tech index tanked 1.5% supported by Dish TV -4.5%, Bharti Airtel -4.2%, Deccan Chronicle -3.3%, Rolta -2.3%, Infosys -1.8% and TCS -1.7%.

Healthcare index fell 1.4% due to selling in Sun Pharma -3.5%, Divis Labs -3.4%, Cipla -2.9%, Glenmark -2% and Dr. Reddy’s Labs -1.7%.

Other sectoral losers were: IT -1.4%, Healtcare -1.3%, Consumer Durables -1.1% and Oil & Gas -0.2%.

Volume shockers on BSE:
Euro Multivision 20.72 million shares, Shree Precoated Steels 19.43 mln shares, Suzlon Energy 14.56 mln shares, Mahindra Satyam 12.08 mln shares and Unitech 11.62 mln shares

Turnover:
Volumes increased further compared to previous session. Total traded turnover was at Rs 98,106.43 crore versus Rs 93128.57 crore on Wednesday. This included Rs 19,989.84 crore from the NSE cash segment, Rs 71,611.55 crore from the NSE F&O and the balance Rs 6,505.04 crore from the BSE cash segment.

Buzzers:
Acrysil India +20% at Rs 114.45, Cambridge Solutions +20% at Rs 85.90, Balaji Distilleries +18.8% at Rs 30.60, Merck +16.7% at Rs 491.40, Kewal Kiran +14.9% at Rs 243.55 and Bengal Fabrics +14.8% at Rs 36.50.

Heavy Losers:
Arvind Chemicals -8.4% at Rs 45.70, Ajel Infotech -8.4% at Rs 30.15, Shyam Star Gems -7.9% at rs 20.50, Sanwaria Agro -7.5% at Rs 55.15, Surana Telecom -7.3% at Rs 42.15 and Investment and Precision -7.2% at Rs 110.05.

Midcap Movers:
Andrew Yule shot up 9.97% (the company may get Rs 628 million for stake sale in Phoenix Yule, reports CNBC-TV18). Peninsula Land, Apollo Tyres, Carborundum and EIH were up 7-9.4%.

Midcap Losers:
Motilal Oswal, Dish TV India, HOEC, HCC and Gammon India fell 3.5-5%.

Smallcap Movers:
Cambridge Solutions locked at 20% upper circuit. Merck was up 16.7% post good Q3CY09 earnings. Kewal Kiran, Transport Corp and Escorts went up 11.5-15%.

Smallcap Losers:
Sanwaria Agro, Nalwa Sons, KLG Systel, Jindal Worldwid and Sundaram-Clayton lost 5-7.5%.

New Listings:
Euro Multivision slipped below issue price of Rs 75. It was trading down over 5% at Rs 71. Its Rs 66-crore IPO was subscribed 1.8 times.

Shree Precoated Steel (SPSL) got listed at Rs 50. Its low was Rs 12.75. It ended at Rs 27.05 with a huge volume of 19.43 million shares.

Earlier CNBC TV18 had said quoting sources that Essar Steel might announce the acquisition of SPSL for Rs 550-600 crore. SPSL is a demerged steel business of Ajmera Realty. After demerger, equity capital stands at Rs 35.5 cr. The valuation, of course, is currently being worked out by E&Y but sources indicate that it would be in the range of Rs 500-600 cr.

SPSL has a capacity of 6 lakh tonne cold rolled steel. It also has a 4.5 lakh tonne capacity of galvanized steel and 3.5 lakh tonnes of colour coating line. SPSL Plant is built on a land size of 250,000 sq. mtrs. At Sanaswadi near Pune and is located about 100 kms from JNPT Port and 165 kms. from Mumbai, the central hub of Industrial and Financial activities of India.

EIH up 7.2 pct:
EIH Ltd closed 7.2 percent higher at Rs 136.25 after the Economic Times newspaper said Max India Chairman Analjit Singh was likely to expand his stake in the hotel chain.

Inflation:
India’s headline inflation rose at a slower-than-expected pace at the start of October as food prices fell, giving the Reserve Bank added room to maintain its easy monetary policy and focus on growth.

The widely watched wholesale price index rose by 0.92 percent in the 12 months to Oct. 3, below a forecast of 1.46 percent but picking up from the previous week’s 0.7 percent annual rise.

Asian Markets:
Asian markets also came off from their highs at the end of trade. Nikkei was up 1.77% while Shanghai, Hang Seng, Straits Times, Kospi, Taiwan Weighted and Jakarta were up just 0.14-0.6%.

European markets:
European markets were trading at: FTSE: -0.2%, DAX: -0.2%, CAC +0.1%.

Crude:
Crude was quoting at $75.08 a barrel.

Optimism:
Morgan Stanley raised its forecast for India’s economic growth to 6.4 percent for the fiscal year to March on robust factory data.

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