India Stock Market: Sensex Up 21.07 Points On Friday

Sensex (^BSESN) up 21.07 points on Friday (October 23, 2009)
–RIL’s 4% fall wipes out early gains

Sensex rose 21.07 points or 0.1% to 16810.81
Nifty (^NSEI) rose 8.45 points or 0.2% to 4997.05.
Mid Cap rose 0.3%. Small Cap rose 0.3%.
BSE 500 rose 0.4%. Sensex gainers: 18

Of 13 BSE Sectoral indices 10 posted losses
Advancers: 1414, Decliners: 1327, Unchanged: 100
Advance/Decline Ratio: 8:7

Sensex Day’s Range: 17006.77- 16756.20
Nifty Day’s Range: 5054.95 - 4983.25
52-Week Range: 17493.17- 7697.39
52 Week Change: (%) -3.9

Sensex gainers included ITC +5%, Mahindra & Mahindra +2.8%, Tata Power +2.6%, Hindalco +2.3%, Infosys +2.2%, TCS +2.2% and Wipro +2.1%.

Sensex losers included Reliance Ind -4%, Grasim -3.1%, Tata Motors -2.3%, Larsen & Toubro -2.3%, Tata Steel -2.2% and Bharti Airtel -1.6%.

FMCG index moved up 1% supported by Dabur India +5.9%, ITC +5%, Godrej Consumer +2.4%, Colgate +2.2%, Britannia +1.3% and United Spirits +1.2%.

IT index advanced 0.8% due to buying in Mphasis +3.9%, Rolta India +3.8%, Aptech +2.6%, Patni Computer +2.5% and Infosys +2.2%.

Other sectoral mover was Teck, which moved up 0.6%.

Realty index fell 4.6% led by Peninisula Land -3.4%, Unitech -1.7%, Ansal Properties -1.3%, Phoenix Mills -1%, Mahindra Life -0.7% and HDIL -0.7%.

Capital Goods index slipped 2.7% helped by Punj Lloyd -3.6%, Usha Martin -2.8%, Larsen -2.3%, SKF India -1.6%, BHEL -1.6% and BEML -1.4%.

Consumer Durables index lost 2.7% due to selling in Blue Star -2.7% and Videocon Ind -1.4%.

Bankex fell 2.1% supported by Union Bank -1.8%, Bank of India -1.8%, Oriental Bank -1.5%, Bank of Baroda -1.4% and Kotak Mahindra Bank -1.4%.

Metal index tanked 1.8% aided by Jai Corp -2.9%, Tata Steel -2.2%, JSW Steel -1.9%, NMDC -0.8% and SAIL -0.4%.

Other sectoral losers were: Oil & Gas -1.6%, Power -1.5%, Healthcae -1.5%, PSU -1.4% and Auto -1%.

Turnover:
Volumes remained above the Rs 1 lakh crore mark today as well; total traded turnover was at Rs 1,01,491.84 crore. This included Rs 16,653.11 crore from the NSE cash segment, Rs 79,719.69 crore from the NSE F&O and the balance Rs 5,119.04 crore from the BSE cash segment.

Buzzers:
Gloster Jute +20% at Rs 231.75, Citurgia Biochem +19.9% at Rs 60.15, Avantel +16.2% at Rs 68.25, Kirloskar Oil +14.9% at Rs 140.60, Shriram EPC +13.5% at Rs 253.75, Goa Carbon +13.3% at Rs 108.15, Jubilant Ovaerseas +12.5% at Rs 237.30 and Uni Abex +12.2% at Rs 149.95.

Heavy Losers:
Trent (W) -10.4% at Rs 64.45, Deepak Nitrite (W) -9.9% at Rs 20.09, Rap Media -7.9% at Rs 43.70, FAG Bearings -7.4% at Rs 478.80, Revathi CP -7.3% at Rs 576, Singer India -6.8% at Rs 43.85 and Paushak Ltd -6.7% at Rs 48.50.

ITC major gainer in Sensex:
ITC’s better-than-expected numbers helped the markets. The stock gained 5%, as its Q2FY10 net profit shot up 26% to Rs 1,010 crore and net sales went up 14.1% to Rs 4,293 crore while expectations were Rs 930 crore and Rs 4190 crore, respectively. Its cigarette business was strong while hotels business saw a dip in second quarter.

BHEL shares fall despite good Q2 numbers:
BHEL reported 24% rise in net sales to Rs 6,625 crore and 39% upside in PAT at Rs 858 crore. OPM improved to 18.59% versus 15.21%. But the stock fell over 1%.

Reliance dips 4 pct:
Reliance Industries (RIL) plunged 4%, which wiped out most of the markets’ early gains. Hardy Oil and Gas, which has 10% stake in Krishna-Godavari D9 block on the east coast of India, will abandon exploration of one well.

RIL has 90% stake in KG D9 block. RIL’s stock was seen under pressure after the news came out. “Hardy continues to have 10% interest in KG D9,” RIL sources said.

“We will remain partners with RIL for D9 and will continue to hold 10% stake, committed to RIL.” The stock was down 36% in London Stock Exchange.

Midcap Gainers:
Kirloskar Oil shot up 15% on good set numbers in Q2. Jubilant was also up 12.5% on good results. Dishman Pharma, Piramal Health and Berger Paints gained 6-7%.

Midcap Losers:
Amtek Auto, Nagarjuna Construction, Punj Lloyd, Peninsula Land and Shriram City fell over 3%.

Smallcap Gainers:
Shriram EPC was up 13.5%. Galleon Fund sold 19.5 lakh shares in Shriram EPC in two block deals. Galleon held 4.6% stake in the company prior to the sale.

Indea Long-Term Opportunities Master Fund bought 9.54 lakh shares at Rs 223 a share. It had sold 10 lakh shares, or 2.3% stake, to Argonaut Ventures at Rs 185 per share on September 25.

AP Paper Mills, Sagar Cement, Gwalior Chemical and Agro Tech Foods went up 8-9.5%.

Smallcap Losers:
FAG Bearings, Money Matters, Hikal, Tata Coffee and Ugar Sugar Work slipped 5-9.4%.

Market this week:
Sensex fell 2.9% and Nifty fell 2.8% this week.

Oil is boiling again:
Crude prices are once again on an upward spiral leading to fears about the impact on the margins of companies in various sectors. Analysts tracking markets say any further increase could lead to inflation rising at a faster pace. As a consequence, stocks in sectors like fertiliser, textiles, pharma, automobile, tyre, paints and aviation could be affected if the surge continues.

Some of the leading firms that will be affected in the tyre industry include Apollo Tyres, MRF, Ceat and JK Tyre, among others. Among fertiliser companies, Chambal Fertilisers, Zuari, RCF and Nagarjuna Fertilisers will take the maximum hit.

In the textile sector, the impact would be felt by companies like Century Enka, Vardhman Textile, Garware Wall-ropes and RSWM, among others. With its fortunes directly linked to international prices of aviation turbine fuel (ATF), stocks of Deccan Aviation, Jet Airways and Spice Jet could be another casualty of rising oil prices.

SEBI allows extending trade time:
Sebi has allowed stock exchanges to set their trading time between 9 am (0330 GMT) and 5 pm. The stock markets currently trade between 9.55 am and 3.30 pm.

UK GDP falls:
UK GDP disappoints with 0.4% (QoQ) contraction in Q3 as against a consensus for a 0.2% positive growth. Q3 GDP (YoY) contracts at 5.2% pace versus an estimated contraction by 4.6%. UK GDP numbers is an extremely negative data flow and can put UK Pound under selling pressure thus giving strength to the US Dollar.

Asian Markets:
Asian markets ended higher; Shanghai and Hang Seng gained 1.7-1.9%. Jakarta and Straits Times were up 1.2-1.4%. Kospi and Taiwan Weighted rose over 0.5%. Nikkei was up just 0.15%.

European Markets:
European markets were trading: FTSE: +1.4%, DAX: +1.1%, CAC +1.1%.

Crude:
Crude was quoting at $81.34 a barrel.

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