Post Session Commentary - Sep 22 2009

Domestic market extended its previous session’s gains to close in green backed by sustained buying over the ground. Key benchmark indices witnessed upswing on strong cues from European stocks. In addition, firm US index futures also added to the positive sentiments. Market gained ground as strong buying emerged across the board during final trading hours led by on optimism about Q2 September 2009 results next month. The BSE Sensex ended above 16,850 level and NSE Nifty closed above 5,000 mark.

Market opened slightly up after a long weekend on mixed cues from the global markets. The Asian markets were mixed, whereas the US markets closed mostly lower on Monday due to strength in dollar that dragged commodity and other stocks. Whereas, the Nasdaq reported a modest gain as biotech stocks advanced despite selling pressure, which kept the Dow and S&P 500 in the red for the entire session. Further, Indian benchmark indices managed to gain further ground and continued to trade on pleasant note on fresh buying emerged over the counters. However, stocks cooled down a bit and were rangebound during mid session. Market extended gains further and continued upward journey in afternoon trade in line with higher European stocks. Strong buying over the ground led rally during final trading hours and market witnessed strong close. From the sectoral front, all indices ended in green barring Oil & Gas stocks. Besides, IT, FMCG, Bank, Pharma, Auto and Realty stocks. BSE Mid Caps and Small Caps stocks also followed the same trend.

Among the Sensex pack 24 stocks ended in green territory and 6 in red territory. The market breadth indicating the overall health of the market remained positive as 1611 stocks closed in red while 1167 stocks closed in green and 84 stocks remained unchanged in BSE.

The BSE Sensex closed higher by 145.13 or (0.87%) points at 16,886.43 and NSE Nifty ended up by 44.15 points or (0.89%) at 5,020.20. BSE Mid Caps and Small Caps closed with gains of 45.76 and 77.38 points at 6,216.99 and 7,451.02 respectively. The BSE Sensex touched intraday high of 16,943.49 and intraday low of 16,763.78.

Gainers from the BSE Sensex pack are HDFC (5.30%), TCS Ltd (2.92%), Tata Motors (2.60%), ITC Ltd (2.59%), Infosys Tech (1.77%), HDFC Bank (1.50%), SBI (1.41%), HUL (1.28%), Wipro Ltd (1.28%), Maruti Suzuki (1.12%) and L&T Ltd (0.97%).

Losers from the BSE Sensex pack are Bharti Airtel (3.28%), JP Associates (2.67%), Hindalco (0.58%), ONGC Ltd (0.47%) and Sterlite Industries (0.25%).

On the global markets front, the Asian markets that opened before the Indian market, ended mixed. Hang Seng, Singapore''s Straits Times Index and Seoul Composite closed up by 228.29, 37.72 and 23.38 points at 21,701.14, 2,685.63 and 1,718.88 respectively. However, Shanghai Composite and Nikkei 225 lost 69.46 and 73.26 points at 2,897.55 and 10,370.54 respectively.

European markets, which opened after the Indian market, are trading up. In Paris the CAC 40 is higher 32.81 points at 3,844.97, in Frankfurt DAX index is trading up 65.64 points at 5,74.29 and in London FTSE 100 is trading higher 43.74 points at 5,178.10.

The BSE IT index was at 4,643.01 up by 87.09 points or by (1.91%). The main gainers were Moser Baer up by (8.64%) at Rs.99.3, Mphasis Ltd up by (5.74%) at Rs.658.5, Aptech Ltd up by (3.45%) at Rs.292.5, Tcs Ltd up by (2.92%) at Rs.600.85, Rolta Ind up by (2.41%) at Rs.180.95.

The BSE FMCG index was at 2,577.00 up by 41.41 points or by (1.63%). The main gainers were Ruchi Soya up by (3.11%) at Rs.96.2, I T C Ltd up by (2.59%) at Rs.233.3, Dabur India Ltd. up by (1.68%) at Rs.136.3, Hind Uni Lt up by (1.28%) at Rs.264.5, Godrej Cons up by (0.92%) at Rs.248.15.

The BSE REALTY indexwas at 4,518.90 up by 45.69 points or by (1.02%). The main gainers were Orbitco up by (7.2%) at Rs.218.75, Housing Dev up by (3.11%) at Rs.336.3, Indbul Real up by (2.76%) at Rs.268.4, Parsvnath up by (2.69%) at Rs.125.9, Mahindralife up by (1.68%) at Rs.378.05.

The BSE AUTO index was at 6,668.53 up by 65.43 points or by (0.99%). The main gainers were Bosch Ltd up by (3.11%) at Rs.4154.5, Tata Motors up by (2.6%) at Rs.614.5, Ashok Leylnd up by (2.47%) at Rs.41.55, Bajaj Auto up by (2.25%) at Rs.1487.2, Escorts Ltd. up by (2.1%) at Rs.94.9.

The BSE BANKEX index was at 9,414.64 up by 90.54 points or by (0.97%). The main gainers were Allahabad Bk up by (3.37%) at Rs.116.45, Indian Overs up by (2.71%) at Rs.113.7, Indus Ind Bk up by (2.04%) at Rs.109.85, Hdfc Bank Lt up by (1.5%) at Rs.1546.45, Canara Bank up by (1.47%) at Rs.314.7.

The BSE PHARMA index was at 4,061.72 up by 38.18 points or by (0.95%). The main gainers were Ranbaxy Lab up by (5.43%) at Rs.379.65, Orchid Chem up by (4.29%) at Rs.170.3, Sterl Biotec up by (2.96%) at Rs.116.4, Sunpha Adv up by (2.02%) at Rs.80.85, Cipla Ltd. up by (1.93%) at Rs.263.9.

The BSE OIL&GAS index was at 10,123.19 down by 3.06 points or by (0.03%). The main losers were Essar Oil Ltd down by (0.95%) at Rs.161, GAIL down by (0.6%) at Rs.348.9, Cairn Ind down by (0.49%) at Rs.262.85, Ong Corp Ltd down by (0.47%) at Rs.1155.45, Reliance down by (0.11%) at Rs.2096.35.

Parsvnath Developers Limited advanced by 2.69%. India''s leading Real Estate Company with pan India presence having diversified portfolio performed Bhoomi Pujan and announced the launch of Parsvnath City, Saharanpur, The Parsvnath City, Saharanpur will offer plotted development, independent Floors and expandable villas at affordable rates.

Micro Technologies (India) Ltd. increased by 4.94%. The company bagged the largest order for its advance version of Vehicle Security product; Micro VFJB Marshall.

Four Soft ended up by 0.42%. The company announced that it''s Warehouse Management Software 4S eLog has gone live at multiple locations of Calderhead Refrigerated Transport and Coldstore''s temperature controlled warehousing.

GAIL dropped by 0.60%. The company has signed two contracts for sourcing of natural gas from PY-1 field for supply to a power plant in Tamil Nadu.

Media Matrix Worldwide Limited zoomed 9.83%. The company announces a joint venture with Irish pub company FZC, UAE.

Maruti Suzuki gained 1.12%. The company has introduced its new model of Alto, ‘Alto Xcite’ on model. This new model will be priced Rs 13,500 more than the existing one. The stock is now trading higher by (1.67%) at Rs.1,668.20.

Gujarat NRE Coke lost 3.84%. The Board of Directors of the company recommended a bonus issue of "B" equity shares carrying lower voting rights in the ratio of 1 DVR Bonus share for every 10 equity shares held. The Company would seek various regulatory approvals including consent of shareholders through a postal ballot for the proposed Bonus Issue.