MUMBAI – The benchmark Nifty closed flat with a positive bias, after witnessing a rangebound trading session throughout the day. Heavyweights like Reliance Industries, Bharti Airtel, ICICI Bank, SBI and Hero Honda helped the markets to stay in positive territory.
Commenting on the road ahead, technical analyst Mitesh Thacker of miteshthacker.com maintains a range of 5,450-5,480 on the upside and 5,370-5,350 on the downside. He said 5,510-5,520 could be a strong supply area on the Nifty. However, he cautioned that if Nifty breaks 5,350 it could have a bigger movement on the lower side.
HDFC, DLF, Kotak Mahindra Bank, BHEL, BPCL, Idea, Sun Pharma, Hindalco and Jaiprakash Associates were other gainers. However, selling in power, technology and select power companies’ shares along with ONGC, L&T, Reliance Communications, HDFC Bank, SAIL, M&M, Tata Motors and Sterlite Industries limited the gains to major extent.
Equity benchmarks have seen consolidation today, as it had rallied 1.2% on Monday following global cues and good earnings of ICICI Bank. The 30-share BSE Sensex closed at 18,114.83, up 33.62 points and the 50-share NSE Nifty 7.9 points to settle at 5,439.55.
Overall financial was the leading sector for the second consecutive day, led by ICICI Bank, which rose 2.4% today. The stock rallied 14.5% in last one month. Good improvement in asset quality helped the bank to post 17% jump in net profit for Q1FY11. Among other financials, SBI, HDFC and Axis Bank were up 0.4-0.9% while HDFC Bank and IDFC fell 0.65-1%.
Bharti Airtel from telecom space also gained 3.3% and Idea Cellular rose 1.25% while Reliance Communications fell 2.6%. Some Anil Dhirbhai Ambani Group companies’ shares were under pressure today; RNRL and Reliance Power fell 2.5-3.3% while Reliance Infra gained 0.4%.
The Securities and Exchange Board of India (SEBI) has issued a show-cause notice to two of Anil Dhirubhai Ambani Group (ADAG) companies—Reliance Natural Resources (RNRL) and Reliance Infrastructure and asked the two to appear for a personal hearing on September 3. It also summons Anil Ambani and four other directors. CNBC-TV18 learns that notice could pertain to investment of Pluri in Reliance Infra and RNRL.
In the oil & gas space, Reliance Industries rose 1.3% and BPCL was up 1.6% while GAIL and ONGC declined 0.5-0.6%. Hindalco from metal space gained 0.7% post better-than-expected numbers while SAIL, Jindal Steel and Sterlite Industries slipped 0.9-1%.
Hero Honda from auto pack went up nearly 2% and Maruti was up 0.3% while M&M and Tata Motors lost 0.65-1.5%. DLF from realty segment was up 0.6% while Unitech was down 0.2%.
In the capital goods space, BHEL and Siemens moved up 0.56-0.86% while L&T fell 1.5% and ABB was down 0.4%. TCS, Infosys and Wipro from technology pack were down 0.44-0.75%.
Jubilant Foodworks, SBI, ICICI Bank, Aster Silicates, Reliance Industries and Adani Enterpris were the most active shares on exchanges.
In the midcap space, HMT, Jubilant Foodworks, Cox & Kings, Shriram City and MVL were up 8-15% while Rei Agro, KGN Industries, Akzo Nobel, Himadri Chemical and Punj Lloyd lost 3.4-4.6%.
In the smallcap space, AP Paper Mills, Aptech, IFB Industries, SE Investments and Timex Group gained 9-13.4%. However, Banco Products, Kaveri Seed, Vikas WSP, Godawari Power and LGS Global lost 5-9%.
Top percentage gainers – Arunjyoti Enterprise, Piccadilly Agro, Kalyani Forge, Apollo Finvest and Laffans Petro shot up 20% each. However, Aster Silicates was down 20% at Rs 121.85 as against issue price of Rs 118 per share. Omkar Overseas was down 19.93%.
Total traded turnover on the markets stood at Rs 75,288.86 crore on Tuesday. This included Rs 13,040 crore from NSE cash segment, Rs 57,832.03 crore from NSE F&O and the balance Rs 4,416.83 crore from BSE cash segment.
About 1643 shares advanced while 1568 shares declined on BSE. Nearly 147 shares remained unchanged.
At 15.00 hrs IST, the Nifty was hovering around 5450 amid volatility. It was a choppy session for the markets as Nifty was consolidating around 5450 mark in a narrow band of 30 points. The turnover was slightly on a lower side suggesting lack of retail participation in the markets. Buying continued in banking, oil&gas and pharma stocks. Capital goods, IT and FMCG stocks were major laggards of the day.
The Sensex was up 33.26 points or 0.18% at 18114.47, and the Nifty was up 6.30 points or 0.12% at 5437.95. About 1496 shares advanced, 1545 shares declined, and 317 shares remain unchanged.
In the largecap space, Bharti Airtel, ICICI Bank, Hero Honda, Reliance and BPCL were up 1.2-2.8%. On the losing side, Reliance Communiactions, Reliance Power, Mahindra and Mahindra, Suzlon Energy and Larsen were down 1.5-2.6%.
Index heavyweight Reliance was trading at Rs 1,026.90 up 1.22% from its previous close of Rs 1,014.55. Tech major Infosys was trading at Rs 2,778.90 down 0.74% from its previous close of Rs 2,799.55. Refinery major HPCL was trading at Rs 440.60 up 1.16% from its previous close of Rs 435.55.
Cigarette major ITC was trading at Rs 155.25 down 0.72% from its previous close of Rs 156.38. Hindustan Lever was trading at Rs 253.25 down 0.12% from its previous close of Rs 253.55.
Top gainers on the BSE Midcap: Jubilant FoodWorks, Wockhardt, Cox and Kings, HMT and Hind Nat Glass were up 5-12%.
Top losers on the BSE Midcap: KGN Industries, Rei Agro, Akzo Nobel, Puravankara Projects and Himadri Chemicals were down 3-5%.
Top gainers on the BSE Smallcap: AP Paper Mills, IFB Industries, SE Investments, Take Solutions and Gujarat Natural were up 8-13%.
Top losers on the BSE Smallcap: Kaveri Seed Company, Banco Products, Vikas WSP, Bhagwati Banquets and Tatia Global were down 5-7%
Nifty trades in tight range; SBI, ICICI Bk, Bharti, RIL up
At 11:52 hours IST – the 50-share NSE Nifty was trading in a narrow range of 5432-5450. It has been in a range of 5350-5450 since three weeks, though it has seen a rally yesterday.
Reliance Industries, ICICI Bank, Bharti, SBI, Hero Honda, DLF, NTPC, BHEL, Jaiprakash Associates, HUL, HDFC, Maruti, Kotak Mahindra Bank, Unitech, Idea and Sun Pharma were keeping the markets in a positive terrain.
On the other side, profit booking in technology, metal and cement companies’ shares along with L&T, ITC, M&M, Tata Motors and Siemens capped the upside. Even Anil Dhirubhai Ambani group companies’ shares like Reliance Power, Reliance Communications, Reliance Infrastructure and Reliance Capital were down by 2%, 1.6%, 1.4% & 0.4%, respectively. RNRL declined 2.4%.
The Securities and Exchange Board of India (SEBI) has issued a show-cause notice to two of Anil Dhirubhai Ambani Group (ADAG) companies—Reliance Natural Resources (RNRL) and Reliance Infrastructure and asked the two to appear for a personal hearing on September 3. It also summons Anil Ambani and four other directors. CNBC-TV18 learns that notice could pertain to investment of Pluri in Reliance Infra and RNRL.
The Sensex was trading at 18115, up 34 points and the Nifty was at 5440, up 8 points. The BSE Midcap Index was up 0.34% and Smallcap up 0.7%.
Aster Silicates (down 19.5%), SBI (up 0.7%), ICICI Bank (up 2.3%), Aban Offshore, Reliance Industrial Infra, Reliance Industries (up 1%) and BHEL were the most active shares on exchanges.
Sensex lacklustre; TCS, Infy, L&T, ITC, RComm slip
At 10:39 hours IST – the benchmark Sensex was consolidating at previous day’s closing value, after witnessing 1.2% rally on Monday. On one side, heavyweights like SBI, ICICI Bank, Reliance Industries and Bharti Airtel were supporting the markets. DLF, Axis Bank, BHEL, NTPC, BPCL, Hero Honda, Maruti, Unitech, Tata Steel, SAIL, Idea and HUL were other gainers.
However, selling in technology and cement companies’ shares along with L&T, Reliance Communications, Tata Motors, M&M, Sterlite Industries, HDFC Bank, HDFC, Reliance Infrastructure and Jindal Steel capped the gains to major extent.
The Sensex was trading at 18096, up 15 points and the Nifty was at 5436, up 4 points. About 810 shares advanced while 417 shares declined on NSE.
There was a mixed trade in Asian markets as well; Shanghai was down 0.6% and Jakarta fell 1.5%. However, Hang Seng, Nikkei, Taiwan and Kospi gained 0.2-0.8%.
Aster Silicates (down 18.6% at Rs 124.80 – issue price was Rs 118), SBI, Aban Offshore, ICICI Bank, Reliance Industrial Infra, Reliance Inds and Tata Steel were the most active shares on exchanges.
In the midcap space, Hindusthan National Glass, Petronet LNG, Greaves Cotton, Cox & Kings and Kirloskar Brothers gained 4-7% while Rei Agro, KGN Industries, Whirlpool, Infotech Enterprise and Shree Global lost 2-4%.
In the smallcap space, AP Paper Mills, IFB Industries, SE Investments, Take Solutions and Kalyani Steels rallied 7-15% while Banco Products, Maharashtra Polybutenes, Bhagwati Banquet, Gokaldas Export (post disappointing numbers; reported loss of Rs 18 crore in Q1FY11 versus profit of Rs 2.9 crore) and Intra Infotech lost 4.7-7%.
Nifty consolidates; ICICI Bank, GAIL, DLF, ONGC gain
The benchmark Nifty was positive in opening trade and jumped above 5450 but profit booking in some heavyweights and weak Shanghai wiped out some early gains. The markets already discounted global markets’ rally in Monday’s trade.
At 9:01 hours IST, the Sensex was trading at 18131, up 50 points and the Nifty was at 5443, up 12 points. The CNX Midcap rose 30 points to 8529. About 654 shares advanced while 181 shares declined on NSE.
Among the frontliners, ICICI Bank, Kotak Mahindra Bank, PNB, GAIL, Wipro, DLF, Maruti, Jaiprakash Associates, Tata Motors, SAIL, Hero Honda, TCS and Hindalco were gainers in early trade.
However, ITC (ex-bonus today), Idea Cellular, Ambuja Cements, ACC, Reliance Communications, Reliance Power, Reliance Infrastructure and RNRL were under pressure.
Midcap & Smallcap Space:
Future Capital was up 1% while McDowell Holding was down 2.5%.
Recently listed Aster Silicates and Emami Infrastructure were down 20% & 3%, respectively.
Results Reaction
NMDC was up 3% while India Cements and Madras Cement declined 1% each.
Global cues:
Asian markets were mixed in trade after initial positive trade. Shanghai was down 0.7% and Jakarta down 0.5%. However, Nikkei was up 1.2% and Hang Seng up 0.6%. Straits Times, Kospi and Taiwan were marginally in green.
The US markets ended at highest level in 10 weeks, after strong US manufacturing reading and strong earnings from BNP Paribas & HSBC ((both rallied over 5%)).
The Dow Jones Industrial Average ended up 209 points at 10674. The Nasdaq Composite was up 40 points 2295 and S&P 500 up 24 points at 1126.
Commodities rallied yesterday as dollar fell 0.8% to a new three-month low.
Commodities
September crude oil futures rose 3.1% at USD 81.34/bbl; at six-month closing high
September natural gas was down 4.1% at USD 4.721 per MMBtu, had rallied last week
December gold was up 0.1% at USD 1185.4/ounce
Aluminium futures gained 4% at USD 2163.25/ton
F&O cues:
Futures Open Int up Rs 3003 crore
Options Open Int up Rs 4814 crore
Nifty Futures add 12 lakh shares in Open Int
Nifty Futures at 2-point premium
Nifty Open Int PCR unchanged at 1.25
Nifty Puts add 44 lakh shares in Open Int
Nifty Calls add 32 lakh shares in Open Int
Nifty 5400 Put adds 12 lakh shares in Open Int
Nifty 5300 Put adds 5 lakh shares in Open Int
Nifty 5400 Call adds 5 lakh shares in Open Int
Nifty 5600 Call adds 4.8 lakh shares in Open Int
Nifty 5500 Call adds 4.7 lakh shares in Open Int
Stock Futures add 3.3 crore shares in Open Int
