Indian Stock markets - Weekly News and Updates

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Major indices closed up at end of the last week both Bombay Stock Exchange's SENSEX and National Stock Exchange'e Nifty smiled through out the week. Apart from this following are the top 5 news which came from the Bombay Stock Exchange and Indian Stock markets during the week.

1. Bajaj Auto entered into Nifty 50 index and it's stock price touched new high at the Bombay Stock Exchange at 1,555.
2. SEBI closes doors for non-complaint FII's
3. SENSEX hits 33 month high and may touch 21000 mark.
4. Tata Motors in plan of $525 million share sale.
5. Supreme Court revokes ban on Sterlite's copper smelter.

SENSEX rises 400 pts | NIFTY up 122 pts as recession ease

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Bombay Stock Exchange's SENSEX index gained over 400 pts today as investors become bullish about recovering economic recession, NSE's NIFTY also closed up 122 pts as similar bullish sentiments were prevelant through out the trading sessions through out the day, Detailed and sector wise performace of the day of both SENSEX ans NIFTY is as follows :

Nifty ended at 4521.55, up 122.65 points or 2.79 per cent. The broader index touched a high of 4532.40 and low of 4405.95.

Sensex closed at 15237.94, up 394.82 points or 2.66 per cent. The index touched an intra-day high of 15264.84 and low of 14997.75.

BSE Midcap Index gained 2.38 per cent and BSE Smallcap Index moved 2.95 per cent higher.

Sectoral performance of BSE was as follow:

BSE Realty Index jumped 5.61 per cent higher, BSE Metal Index gained 4.34 per cent and BSE FMCG Index moved up 4.09 per cent.

Biggest gainers that propelled the 30-share Sensex were DLF (7.76%), Reliance Infrastructure (6.76%), Maruti Suzuki (6.63%), Hindalco Industries (6.2%) and ACC (5.96%).

New companies to be included in NIFTY

National Stock Exchange (NSE) said five companies will be included in Nifty Midcap 50 Index with effect from June 26.

IDBI Bank, JSW Steel, United Phosphorous, Cummins India and Educomp Solutions would be included stocks in Nifty Midcap 50 Index from June 26, the exchange said in a notice.

Besides, five others stocks Bombay Dyeing, Mahindra Lifespace, Peninsula Land, Kesoram Industries and TVS Motor Company would also be excluded from the index.

The Futures and Options contracts for new expiry months in the following securities will not be issued on expiry of existing contract months, the exchange said.

NSE keeps circuit limit unchanged

The National Stock Exchange (NSE) on Monday said it has kept its circuit filters unchanged and trading will come to a halt if benchmark index Nifty rises or falls by 300 points in a day.

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"The existing policy will continue to govern trading on the exchanges. Accordingly, the first level of the circuit breaker at 10 per cent will be triggered at 300 points for Nifty and 975 for Sensex over the respective closing level of the indices today," the NSE said in a statement.

The announcement by NSE came in after the market authorities had to halt the trading - initially for two hours and later for the entire day - as the rules do not permit the trade to continue if a single-day gain exceed 20 per cent in either of the two benchmark indices, Sensex and Nifty.

The 50-share Nifty today soared 531.65 points in the opening trade which led to the regulators closing the equity and equity derivatives market closed for two hours. Following opening, Nifty further went up 651.50 points to 4,323.15, which triggered a halt for the day.

This circuit breaker brings about a coordinated trading halt in all equity and equity derivative markets nationwide and
are triggered by movement of either Sensex or Nifty, whichever is breached earlier.

Also the Sensex today soared by 2,111 points to close at 14,284.21 points. It had surged 1,760 points at 13,963, hitting the upper circuit following which trading was halted for two hours. After the trading was resumed, the Sensex soared 806 points at 14,284.21 triggering a halt for the day.

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On March 31, 2008, the last trading day of the quarter, Sensex closed at 9,708.50 points. The absolute points of Sensex variation which would trigger market wide circuit breaker for any day in the quarter between April 1 and June 30 would be 975 points for first 10 per cent trigger point, 1,450 points for the second 15 per cent trigger point and 1,950 points for the final 20 per cent trigger.

Similarly for the Nifty, the three trigger points in the current quarter would be 300 points, 440 points and 600 points - based on a closing level of 3,020.95 points on March 31. In case of a 10 per cent movement of either of these indices, there would be a one hour market halt if the movement takes place before 1 pm.

In case of a 15 per cent movement of either index, there will be a two hour market halt if the movement takes place before 1 pm. If the 15 per cent trigger is reached on or after 1 pm but before 2 pm, there will be a one hour halt. If the 15 per cent trigger is reached on or after 2 pm the trading will halt for the remainder of the day.

In case of a 20 per cent movement of the index, the trading will be halted for the remainder of the day.

Nifty updates April 2009 - Nifty premium widens

NSE stock Updates - Trade on Indian bourses was extremely choppy on Wednesday, with a steep fall initially on weak cues from global markets and a smart recovery later. The lower levels triggered heavy short covering as well as strong buying in frontline stocks, and even more aggressively in mid and small caps.

National Stock Exchange’s (NSE) 50-share Nifty ended 2.65 per cent higher at 3342.95 from Monday’s close. Intraday, the index touched a high of 3357.05 bouncing off a low of 3149.25. The top gainers were HCL Technologies (11.13%), Nalco (8.71%), GAIL (7.33%) and Unitech (7.07%).

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In futures, Nifty April provisionally ended at a premium of 12 points, expanding from 5 points Monday. The contract price rose 2.89 per cent and open interest added enormous 60.79 lakh shares (provisional). The buy quantity was nearly twice that of sell, which indicates short covering and build up of long positions.

On the options front, unwinding of short positions was observed at Nifty strikes 3300 and 3200 while call buying was seen from 3400-3600 levels. On the other hand, put writing was witnessed at strikes 3300 and 3200. This hints at extended gains near term.

“The rally in late trade reminded me of Mark Mobius’ words that the Bull Run has already started. Now all eyes are on corporate earnings and the parliamentary elections. Any positive development on this front may lead Nifty to 3800 level and any unfavorable development may see some correction in the near term. However, at current levels I don’t expect any heavy correction,” said Kapil Mehta, analyst at Flexion Advisory.

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Among stock futures, Reliance Industries April advanced 3.5 per cent and added 6 lakh shares in open interest. Reliance Infrastructure gained 0.55 per cent and added 3.35 lakh shares in OI. ICICI Bank rose 0.41 per cent and open interest added 10.5 lakh shares. JP Associates surged 9.3 per cent and added 24 lakh shares in OI.

Essar Oil April futures climbed 4.19 per cent while OI shed 1 lakh shares. NTPC soared 7.3 per cent and OI added 30.51 lakh shares. Larsen & Toubro jumped 5.26 per cent and OI added 6 lakh shares. Unitech advanced 8.59 per cent adding 1 crore shares in OI.

Total F&O turnover on NSE was Rs 63,465 crore, up 31 per cent against Rs 48,445 crore on 6/4/09.

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