Indian stock markets analysis for today 3-8-2011

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Benchmark indian stock indices like the Bombay Stock Exchange's 30 component SENSEX and National Stock Exchange's NIFTY closed in red today by nearly 1 percent. All the sectoral indices at both National Stock exchange and Bombay stock exchange also remained in red today.

Bombay Stock Exchange's large-cap Sensex closed at 17940.55, down 169.34 points. The 30-share index touched intraday low of 17859.50 today.

National Stock Exchange's broader index Nifty closed at 5404.80, down 51.75 points. The broader index touched a high of 5422.60 in daytrade today.

Major Stocks Updates from BSE and NSE are as follows:

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Indian Markets nosedives at close today

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The benchmark Indian stock indices like Bombay Stock Exchange's 30 component large-cap Sensex closed at 17993.33, down 332.76 points. The 30-share index hit a high of 18269.06 in intraday trading today. BSE Midcap Index was down 1.41 percent and BSE Smallcap Index nosedived by 1.57 percent at EOD today.

The broader index National Stock Exchange's Nifty ended at 5386.55, down 99.80 points. The broader index touched intraday low of 5373 in day trade today.

The main reason for this decline is european uncertainity euro-zone debt crisis triggered a sell-off in global equities. Greece's credit rating to B+ while Standard & Poor's cut its outlook on Italy to "negative" from "stable" by one of the rating agency.

All of the sectoral indices also closed in deep red today, BSE Capital Goods Index fell 2.95 percent, BSE Power Index moved 2.91 percent lower, BSE Bankex slipped 2.85 percent and BSE Realty Index declined 2.79 percent. BSE FMCG Index was however up 0.59 percent.

Market breadth was negative on the BSE with 1973 declines as compared to 801 advances.

Nifty passes 5300 in day trading today

(posted under - Intraday trading) - At 10:48 am, National Stock Exchange’s benchmark Nifty was at 5314.15, up 73.05 points or 1.39 per cent. The index touched a high of 5318.85 and low of 5242 in early trade.

The Bombay Stock Exchange’s Sensex was up 244.97 points or 1.40 per cent at 17716. The index hit a high of 17727.82 and low of 17536.48.

BSE Midcap Index was up 1.15 per cent and BSE Smallcap Index moved 1.29 per cent higher.

Amongst the sectoral indices, BSE Realty Index advanced 1.93 per cent, BSE Metal Index moved 1.83 per cent higher and BSE Bankex moved up 1.72 per cent.

Temasek purchases 5% stake in NSE for 115 million dollars

US-based stock exchange NYSE today announced selling its five per cent stake in India's top bourse NSE to Singapore government's investment arm Temasek.

The deal marks exit of New York Stock Exchange from National Stock Exchange and Temasek's entry as shareholder.

The transaction has received the necessary regulatory approvals, NSE and Temasek said in a joint statement, but did not elaborate on the financial details.

NYSE had acquired 5 per cent of NSE in 2007 for 115 million dollars, valuing the bourse at about 2.3 billion dollars.

Nifty ends higher due to strong global developments

(24/4/2009 - Nifty Updates) - Indian equity benchmarks rallied to end higher on Friday as bulls came out in the open following a strong opening of European markets. Traders also continued to cover short positions leading to further spike in the indices.

National Stock Exchange’s Nifty ended at 3480.75, up 57.05 points or 1.67 per cent from the previous close. The broader index touched high of 3491.35 and low of 3402.90 Bombay Stock Exchange’s Sensex ended at 11,329.05, up 194.06 points or 1.74 per cent. The index touched an intra-day high of 11362.88 and low of 11070.33.

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BSE Midcap Index outperformed the Sensex ending 1.86 per cent higher while BSE Smallcap Index closed up 1.71 per cent.

Market breadth was positive on the BSE with 1536 advances and 970 declines. Thanks to some good results shown by companies mainly Maruti Sazuki, Cipla and Ranbaxy labs

Maruti Suzuki India reported 18.5 per cent drop in quarterly net profit, missing the forecast, due to higher raw material costs and inventory. Maruti’s net profit rose to Rs 2.43 billion in the fourth quarter ended March from Rs 2.98 billion reported in the same period year earlier. The stock ended flat at Rs 802.25 on the BSE.

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Ranbaxy Laboratories’ Q1 standalone net sales was down at Rs 802.22 crore against Rs 987.29 crore in the same period a year ago. Standalone net loss was at Rs 777.78 crore against net profit of Rs 103.42 crore during the same period previous year. The share closed 2.42 per cent lower.

Cipla’s Q4 standalone net profit was up 40.89 per cent at Rs 252.9 crore from Rs 179.5 crore in the same quarter a year ago. Standalone net sales was up10.08%, to Rs 1,235.2 crore from Rs 1,122.1 crore. The scrip closed 3.59 per cent higher.

posted under - Nifty updates, Nifty stocks, BSE updates, Indian Markets updates, Nifty closing 

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.

posted under - Nifty updates, NSE updates, NSE india, Nifty stocks, Nifty 50 updates, NSE, National Stock exchange stocks, indian markets updates

Realignment of NSE indices to widen index funds' tracking errors

The proposal to realign NSE indices on the basis of free-float market capitalisation will put index funds and exchange-traded funds in a spot of bother. According to mutual fund analysts, the exchange-proposed changes in stock weightages will result in widening of tracking error in index funds.

Index funds are passively-managed funds, wherein the fund manager attempts to mirror the performance of a benchmark index, by investing the corpus in the index components in proportion to their weightage in the index.

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Tracking error is the difference between returns from the index fund to that of the index. Lower the tracking error, closer are the returns of the fund to that of the target index.

Funds with tracking error lower than 1% are considered good performers, according to mutual fund analysts. The NSE-proposed shift in stock weightages could deviate fund returns (from index returns) in the range of 6-10%, industry sources said.

"There could be some tracking error as weightage realignment of the whole index would mean a lot of buying and selling of shares," said an index fund manager.

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"Unlike in other times when one stock is excluded from the index, the whole benchmark is being revamped this time round. However, the realignment process won’t take long as net AUM in index funds and ETFs are just over Rs 1,300 crore," the fund manager said.

According to analysts, stocks that were heavyweights, but had low floating stock will be adversely impacted because of the realignment. HDFC (+2.7%), ITC (+5.2%), Infosys (3.8%) and ICICI Bank (+2.8%) would be the major beneficiaries while NTPC (-6.7%), ONGC (-3.5) and Bharti Airtel (-1.7) would lose their weightage in the index. Sector-wise, a positive shift in weightage would be witnessed in banking and FMCG while power and oil & gas would be major losers.

posted under - NSE updates, NSE realignment, NSE stocks realignment, Nifty updates, Nifty stocks updates, National Stock exchange, NSE stocks updates

BSE | NIFTY looks @ Lok Sabha elections hoping of turnaround

The stock market is riding a global rally and is hoping a major party wins a strong hand at coming elections, but could be beaten back if a One out of six stocks beat Sensex fractious group of parties including Communists gains influence at the polls.

Investors are pricing victory for a coalition led by either the ruling Congress or Bharatiya Janata Party (BJP) when the world's largest democracy goes to polls between April 16 and May 13 against a backdrop of slowing growth.

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But cracks in the two main national coalitions have raised fears that a "Third Front" could tip the balance of power, which market watchers believe could pull down stocks by between 15 to 30 per cent from current levels.

"Developments in politics seem to be increasing the probability of very fragmented parliament, which could spoil chances for a post-election recovery in markets as well," Morgan Stanley analyst Ridham Desai said in a recent note.

The benchmark 30-share BSE index fell more than 52 per cent in 2008, a record fall, and lost ground at the start of 2009. The index looks to have found a footing since early March, rising 9 per cent in the month on hopes the worst may have passed for the world economy.

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That was enough to see the market finish the March quarter up 0.6 per cent, its first quarterly rise since the end of 2007. It rose another 2 per cent on Wednesday to close at 9,901.99

posted under - BSE updates, NSE updates, NSE stocks, BSE stocks, Sensex updates, BSE, BSE latest updates, nifty, Nifty updates

March 20/09 - Nifty seen volatile between 2700 and 2850

March 20/09 - (NIFTY CLOSING UPDATES) - NSE’s 50-share Nifty closed the day at 2807.05, down just 0.10 points. The Sensex ended 0.39 per cent lower at 8966. levels. Intraday, Nifty touched a high of 2816.10 and low of 2773.65, a band of 43 points.

Nifty March futures provisionally ended at a discount of 8.5 points against a discount of 7 points on Thursday. The contract price slipped 0.08 per cent while open interest added 22.52 lakh shares. The sell quantity was slightly higher than buy quantity, suggesting slight build up of short positions.

Nifty April futures, on other hand, ended at 12 points discount. The contract price was down just 0.01 per cent while it added 21.72 lakh shares in OI. The discount spread between the two contracts indicates rollover of short positions to the April series.

On options front, call buying was seen at 2800 while call writing at 2900 strikes and unwinding of longs were observed at 3000 strike suggesting strong resistance for Nifty in near term. Huge put writing was seen at 2800 and 2700 strikes while moderate put buying was observed at 2900 strike. The options build up suggests Nifty will remain in 2750-2850 range.


posted under - Nifty, Nifty updates, indian market updates, NSE updates, bse stocks, NSE stocks, National stock exchange updates, nifty stock updates, march updates
source - www.economictimes.com

Indian Markets updates | BSE Down | Nifty struggling to cross 2900 mark

National Stock Exchange’s Nifty met a stiff resistance near 2900 levels. It ended at 2868.40, down 52 points or 1.78 per cent. The broader index hit an intra-day low of 2810.25 and high of 2929.85. Bombay Stock Exchange’s Sensex closed at 9390.13, down 195.75 points or 2.05 per cent. It touched a low of 9,250.82 and high of 9630.40 in day’s trade.

BSE Midcap Index ended 2.31 per cent lower and BSE Smallcap Index declined 2.79 per cent.Satyam Computers (-42.68%), Reliance Communications (-9.44%), Tata Steel (-9.31%), Sterlite Industries (-8.86%) and Ranbaxy Laboratories (-8.32%) were the top Sensex losers.

TCS (6.81%), Hindustan Unilever (4.81%), NTPC (3.68%), Maruti Suzuki (3.20%) and Mahindra & Mahindra (2.78%) were amongst the Sensex gainers.Market breadth was negative on the BSE with 1873 losers and 584 gainers.on 8/january/ 2009 closing

NSE - Nifty Latest Updates - News

Even though global markets demonstrated a weak session and domestic IIP data showed a negative growth, Indian stocks recovered sharply and ended in the positive terrain Friday as bears covered their shorts on expectations that the government may announce a heavy incentive package to stimulate the economy.

National Stock Exchange's 50-share Nifty ended at 2921.35, slightly higher by 0.04 per cent. Tracking the weak global cues, Indian markets fell at the open but short covering in the late trade helped stocks to recouped early losses. In a highly volatile session Nifty touched a high of 2936.80 and low of 2812.55, a band of around 124 points.

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As per the NSE website data (provisional), Nifty December futures provisionally closed at a discount of 11 points to spot. The contract price slipped 0.62 per cent while open interest added 38 lakh shares in open interest. The contract trimmed its premium of 8 points on Thursday indicating some build up of shorts at higher levels.

On sectoral front-- realty, consumer durables, oil & gas and banking stocks outperformed the benchmark while, IT, Tech, healthcare and auto ended in red.

Some amount of call buying was observed at 2900 and 3200 strike while good amount of tussle can be seen at 3000 level. Bears unwound their written calls at 3100 strike. On the other hand, huge amount of put writing was observed from strike 2900 to 2700. The call build up was little lackluster while solid put writing was seen at lower levels. This indicates Nifty will remain volatile in a range but won't fell significantly from current levels.

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"This is a traders market. Investors are going short in early trade and covering up shorts at late trade and vice-versa. However, despite the negative IIP data, markets recovered sharply came as a surprised to everybody. If one can look through the technical chart for past few days markets are making a doji candle-- suggesting market is waiting for a breakout to either side," said Sanjay Rao, analyst at Spark Advisory.

Given the rising signs of slowdown Indian government is likely to announce a strong stimulus package to boost the economy. However, some analysts are feeling that this is a distribution stage and one can expect a bigger fall in near term.

In stock futures—Reliance Industries December gained 2.66 per cent and open interest added 2.73 lakh shares. Reliance Natural rose 0.27 per cent and added 5 lakh shares in open interest. State Bank of India advanced 0.3 per cent and Reliance Capital jumped 6 per cent.

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source - www.economictimes.com (read full article)
published under - nifty updates, NSE Updates, indian markets updates, indian share markets, markets in india, global uncertainities in india.