Views on markets today
- It was lacklustre session of trading as investors remained on the sidelines ahead of derivatives expiry on Thursday. Benchmark indices moved in a narrow range for the major part of the day with bouts of volatility witnessed during the trading session.
The 30-share BSE Sensex index finished the day at 20,415 levels down 10 points from its previous close while NSE Nifty slipped by 2 points to close at 6,057 levels.
- Market remained volatile this week as traders roll over positions in the futures & options (F&O) segment from the near month November to December and July-September GDP data on Friday.
The main losers on the Sensex today were Bharti Airtel, NTPC, SBI, Sesa Sterlite, Wipro and Cipla which were down between 1-1.7%. On the gaining side, Tata Motors, ITC, ONGC, Coal India, Dr. Reddy's labs and Tata Steel gained between 0.7-2%.
- Among the 13 BSE Sectoral Indices 7 sectors closed in positive while 6 sectors ended the day in negative. Top Gainers: BSE Consumer Durables up by 1.37%, BSE FMcG by 1.03% and BSE Auto by 0.97%. Top Losers: BSE Power down by 0.88%, BSE Realty by 0.77% and BSE IT by 0.66%.
Market breadth was negative at ~0.84 as investors sold large cap stocks. On provisional basis, FII's sold Rs 0.49bn worth of Indian equities and DII's sold Rs 0.58bn worth of equities.
Economic and Corporate Developments
- Planning Commission deputy chairman, Montek Singh Ahluwalia, on Wednesday said that the country's gross domestic product (GDP) will expand by over 6% in the next financial year, which will primarily be triggered by the policies of the new government.
Stating that he was expecting the second half of the current financial year to be better than the first half though there were no signs of a strong revival as yet, Ahluwalia said that the decline in the economy had bottomed out. According to him the current account deficit (CAD) would be significantly below 3% this financial year.
- The finance ministry, having lined up half a dozen companies to sell the government's stake in, is also planning to tweak the disinvestment strategy by reviving Specified Undertaking of Unit Trust of India (SUUTI) and launching public-sector exchange-traded funds (ETFs).
Buzzing Stocks
- Nestle India closed up 4.03% to Rs 5,449.85 on BSE after the stock entered the MSCI India index with effect from Tuesday, 26 November 2013.
- Siemens closed down 2.40% to Rs 595 on BSE, with the stock sliding on profit taking after recent rally triggered by firm's announcement that its order inflow rose 7% to Rs 10957.30 crore in FY 2013 over FY 2012.
- Sobha Developers closed down 4.15% to Rs 323 on BSE on profit booking after the stock jumped 8.69% in the preceding three trading sessions to Rs 337 on 26 November 2013, from a recent low of Rs 310.05 on 21 November 2013.
- LIC Housing Finance closed down 2.46% to Rs 202.15 on BSE after a block deal of 10.75 lakh shares was executed on the counter on BSE at Rs 200.75 per share in the afternoon.
- Eicher Motors closed up 3.89% to Rs 4,486.40 on BSE, extending Tuesday's 3.07% rise triggered by a foreign brokerage upgrading the stock to buy from underperform.
- DIC India closed up 3.05% to Rs 349.70 on BSE, with the stock extending recent steep rally triggered by the company's promoter proposing a voluntary delisting offer.
- Bharti Infratel closed down 0.91% to Rs 158.05 on BSE after a block deal of 3.83 lakh shares was executed on the counter on BSE at Rs 160 per share in the afternoon.
- United Spirits closed up 2.68% to Rs 2,650.35 on BSE after Diageo purchased 19.67 lakh additional shares of the company at Rs 2400 each on Tuesday, 26 November 2013.
- Bharat Heavy Electricals closed down 0.98% to Rs 146.40 on BSE, with the stock sliding on profit booking after 2-day 7.91% rally.
- Wockhardt closed down 8.87% to Rs 430.15 on BSE after the US drug regulator imposed an import alert on the company's Chikalthana plant in Maharashtra.
- Aban Offshore closed up 0.94% to Rs 376.10 on BSE, extending its two-day 24.2% rally triggered by hopes that the lifting of Western sanctions on Iran will improve oil exploration activity in the region.
- Westlife Development closed down 5% to Rs 389.70 on BSE after two block deals aggregating 9.21 lakh shares were executed in the counter on BSE at Rs 417.85 per share in the morning.
- Edelweiss Financial Services closed up 2.18% to Rs 25.80 on BSE after the company said its board has increased foreign institutional investors' investment limit in the equity share capital of the company to 28% from 24% earlier.
- Thermax closed up 1.14% to Rs 645 on BSE after the company said it received an order worth approximately Rs 269 crore from a leading petrochemical company.
- Voltas closed up 4.21% to Rs 99.05 on BSE after the company said it bagged three overseas project orders worth Rs 1000 crore in the Middle-East.
- It was lacklustre session of trading as investors remained on the sidelines ahead of derivatives expiry on Thursday. Benchmark indices moved in a narrow range for the major part of the day with bouts of volatility witnessed during the trading session.
The 30-share BSE Sensex index finished the day at 20,415 levels down 10 points from its previous close while NSE Nifty slipped by 2 points to close at 6,057 levels.
- Market remained volatile this week as traders roll over positions in the futures & options (F&O) segment from the near month November to December and July-September GDP data on Friday.
The main losers on the Sensex today were Bharti Airtel, NTPC, SBI, Sesa Sterlite, Wipro and Cipla which were down between 1-1.7%. On the gaining side, Tata Motors, ITC, ONGC, Coal India, Dr. Reddy's labs and Tata Steel gained between 0.7-2%.
- Among the 13 BSE Sectoral Indices 7 sectors closed in positive while 6 sectors ended the day in negative. Top Gainers: BSE Consumer Durables up by 1.37%, BSE FMcG by 1.03% and BSE Auto by 0.97%. Top Losers: BSE Power down by 0.88%, BSE Realty by 0.77% and BSE IT by 0.66%.
Market breadth was negative at ~0.84 as investors sold large cap stocks. On provisional basis, FII's sold Rs 0.49bn worth of Indian equities and DII's sold Rs 0.58bn worth of equities.
Economic and Corporate Developments
- Planning Commission deputy chairman, Montek Singh Ahluwalia, on Wednesday said that the country's gross domestic product (GDP) will expand by over 6% in the next financial year, which will primarily be triggered by the policies of the new government.
Stating that he was expecting the second half of the current financial year to be better than the first half though there were no signs of a strong revival as yet, Ahluwalia said that the decline in the economy had bottomed out. According to him the current account deficit (CAD) would be significantly below 3% this financial year.
- The finance ministry, having lined up half a dozen companies to sell the government's stake in, is also planning to tweak the disinvestment strategy by reviving Specified Undertaking of Unit Trust of India (SUUTI) and launching public-sector exchange-traded funds (ETFs).
Buzzing Stocks
- Nestle India closed up 4.03% to Rs 5,449.85 on BSE after the stock entered the MSCI India index with effect from Tuesday, 26 November 2013.
- Siemens closed down 2.40% to Rs 595 on BSE, with the stock sliding on profit taking after recent rally triggered by firm's announcement that its order inflow rose 7% to Rs 10957.30 crore in FY 2013 over FY 2012.
- Sobha Developers closed down 4.15% to Rs 323 on BSE on profit booking after the stock jumped 8.69% in the preceding three trading sessions to Rs 337 on 26 November 2013, from a recent low of Rs 310.05 on 21 November 2013.
- LIC Housing Finance closed down 2.46% to Rs 202.15 on BSE after a block deal of 10.75 lakh shares was executed on the counter on BSE at Rs 200.75 per share in the afternoon.
- Eicher Motors closed up 3.89% to Rs 4,486.40 on BSE, extending Tuesday's 3.07% rise triggered by a foreign brokerage upgrading the stock to buy from underperform.
- DIC India closed up 3.05% to Rs 349.70 on BSE, with the stock extending recent steep rally triggered by the company's promoter proposing a voluntary delisting offer.
- Bharti Infratel closed down 0.91% to Rs 158.05 on BSE after a block deal of 3.83 lakh shares was executed on the counter on BSE at Rs 160 per share in the afternoon.
- United Spirits closed up 2.68% to Rs 2,650.35 on BSE after Diageo purchased 19.67 lakh additional shares of the company at Rs 2400 each on Tuesday, 26 November 2013.
- Bharat Heavy Electricals closed down 0.98% to Rs 146.40 on BSE, with the stock sliding on profit booking after 2-day 7.91% rally.
- Wockhardt closed down 8.87% to Rs 430.15 on BSE after the US drug regulator imposed an import alert on the company's Chikalthana plant in Maharashtra.
- Aban Offshore closed up 0.94% to Rs 376.10 on BSE, extending its two-day 24.2% rally triggered by hopes that the lifting of Western sanctions on Iran will improve oil exploration activity in the region.
- Westlife Development closed down 5% to Rs 389.70 on BSE after two block deals aggregating 9.21 lakh shares were executed in the counter on BSE at Rs 417.85 per share in the morning.
- Edelweiss Financial Services closed up 2.18% to Rs 25.80 on BSE after the company said its board has increased foreign institutional investors' investment limit in the equity share capital of the company to 28% from 24% earlier.
- Thermax closed up 1.14% to Rs 645 on BSE after the company said it received an order worth approximately Rs 269 crore from a leading petrochemical company.
- Voltas closed up 4.21% to Rs 99.05 on BSE after the company said it bagged three overseas project orders worth Rs 1000 crore in the Middle-East.
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