Small Caps and Mid Caps perform better then SENSEX

(20/5/09 - SENSEX updates) - The mid-cap and small-cap indices today significantly outperformed the benchmark index Sensex with as many as 117 small-cap stocks and 14 mid-cap stocks touching their upper circuit limits at the Bombay Stock Exchange.

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The BSE mid-cap index gained over six per cent to settle at 4,673 points, while the small-cap index ended up 8.86 per cent at 5,208.18 points.

According to the data available on the BSE website, as many as 117 stocks from the 465 shares in the small-cap index and 14 stocks out of the total of 221 shares in the mid-cap index hit their respective upper circuit limits today.

"Investors are making value buys into midcaps and small-cap stocks which have turned attractive, while the blue chip stocks became overbought and witnessed profit booking today," Geojit BNP Paribas Financial Services Research head Alex Mathew said.

The 30-share bellwether index Sensex today lost 241 points to close at 14,060, after touching an intra-day high of 14,405.51.

Some of the mid-cap shares which surged and got struck in their upper limit include --realty firm Omaxe (gained 20 per cent), Godrej Industries (10 per cent), Akruti City (5 per cent), Indiabulls (5 per cent) and KEC International (10 per cent).

The mid-cap and small-cap indice track the performance of companies with relatively smaller market capitalisation than the blue chip firms.

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The circuit limits, both upper and lower, are set by the exchange from time to time as a price containment measure beyond which trading would not be allowed in a scrip till the prices are normal or limits are reset.

The circuit limits in stocks are set for a particular scrip by the exchange to limit their movement to five per cent, 10 per cent and 20 per cent, either up or down.

The circuit limits are set to regulate manipulative or one way price drugging of particular shares mainly having smaller marketcaps.

The small-cap stocks which hit their upper circuit limits include- Raymond Ltd , Unity Infra, Bharati Shipyard, Madhucon Projects and United Breweries Holdings.

Sensex will cross 15,000 level tomorrow

BSE's SENSEX is likely to cross the 15,000 level tomorrow and may hit the first upper circuit of 10 per cent as the upbeat market sentiment may attract retail investors to cash in on the bullish phase, analysts said.

Major market players were of the opinion that today's rally of nearly 20 per cent suggests the market might gather momentum in coming sessions amid picking up of capital inflows by foreign funds, and any support from retail investors would place the key-index beyond 15,000 points levels soon.

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"Market may see small movement of 500-700 points. It may witness 15,000 mark in intraday trade at which point it may see sell-off," Keynote Research Senior Vice President Nitin A Khandkar said.

After a sea-change in the market scenario, speculators would also run to cover up their pending short positions on fears of further upsurge in the share prices.

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"Investors who could not take part in the rally today may try to reap gains tomorrow," a NSE broker Rajeev Mallik said adding there were chances of the market hitting a 10 per cent upper circuit in early trade tomorrow. And if this happens, the barometer would be at around 15,500 points without taking much time, he said.

Many of the analysts feel the 30-share benchmark may touch the 15,000 level if the rally continues tomorrow, with some of them not ruling out that an upper circuit breaker might be hit again.

source economictimes

Sensex closes below 11K - 20/4/2009

(20/4/2009 BSE NSE stocks updates) - Bombay Stock Exchange’s Sensex ended at 10,979.50, down 43.59 points or 0.4 per cent. The 30-share index touched an intra-day low of 10863.28 and high of 11209.66.

National Stock Exchange’s Nifty closed at 3377.10, down 0.22 per cent or 7.3 points. The broader index hit a low of 3339.45 and high of 3441.10 during the day.

The BSE Midcap Index closed 1.62 up and BSE Smallcap Index ended 1.51 per cent higher.

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“Long term trend of the market has turned positive but the short-term trend is volatile. Traders are betting on the long term trend and accumulating midcaps and smallcaps which were beaten down badly and are still available at attractive prices,” Sharma said.

Biggest Sensex gainers were Reliance Infrastructure (5.83%), Jaiprakash Associates (5.02%), Tata Motors (4.15%), Sterlite Industries (2.81%) and Larsen & Toubro (2.01%).

ICICI Bank (-3.38%), NTPC (-3.37%), Grasim Industries (-2.42%), Tata Power (-2.39%) and Tata Consultancy Services (-2.21%) were the losers.

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