Nifty September 2009 futures above 4,900

Turnover rises

Nifty September 2009 futures were at 4968, at a premium of 9.60 points as compared to the spot closing of 4958.40. Turnover in NSE's futures & options (F&O) segment rose to Rs 70,086.74 crore from Rs 68,394.42 crore on Tuesday, 15 September 2009.

Aban Offshore September 2009 futures were at premium at 1631.75 compared to the spot closing of 1623.

Unitech September 2009 futures were at a slight premium at 113.90 compared to the spot closing of 113.45.

IFCI September 2009 futures were near spot price at 59.75 compared to the spot closing of 59.55.

In the cash market, the S&P CNX Nifty jumped 66.30 points or 1.36% at 4958.40.

India Advance Tax Numbers

Fourteen firms which reportedly paid higher advance tax in Q2 September 2009 rose by 0.30% to 1.65% on hopes these firms may report higher earnings in Q2 September 2009.

Tax collection in the second quarter is significant, since companies or banks pay almost 45% of the total annual tax payable. The first quarter accounts for 15%.

Reliance Industries rose 0.30% to Rs 2186.70. The company is reported to have paid 69.4% higher advance tax to Rs 1157 crore in the second installment of 15 September 2009 over the second installment of 15 September 2008

Larsen & Toubro rose 0.94% to Rs 1644.75. The company is reported to have paid 40% higher advance tax at Rs 210 crore in the second installment

HDFC Bank rose 0.77% to Rs 1525. The company is reported to have paid 34.92% higher advance tax at Rs 425 crore

State Bank of India rose 1.21% to Rs 2033.50. The company is reported to have paid 22.53% higher advance tax to Rs 1838 crore

Mahindra & Mahindra rose 1.64% to Rs 856.40. The company is reported to have paid 540% higher advance tax to Rs 112 crore in the second installment of 15 September 2009 over the second installment of 15 September 2008

Tata Motors rose 0.66% to Rs 573. The company is reported to have paid 116.67% higher advance tax to Rs 130 crore in Q2 September 2009 over Q2 September 2008.

Bajaj Auto rose 1.65% to Rs 1387. The company is reported to have paid 89% higher advance tax at Rs 170 crore

Tata Power Company rose 0.93% to Rs 1296.50. The company is reported to have paid 435.71% higher advance tax at Rs 75 crore in the second installment

Sterlite Technologies rose 0.46% to Rs 281.70. The company is reported to have paid 233.33% higher advance tax at Rs 20 crore in the second installment

IDBI Bank rose 0.40% to Rs 113.35. The company is reported to have paid 210% higher advance tax at Rs 62 crore in the second installment

Ultratech Cement rose 1.60% to Rs 741.30. The company is reported to have paid 204.88% higher advance tax at Rs 125 crore

Lupin rose 1.42% to Rs 1092.65. The company is reported to have paid 195% higher advance tax at Rs 50 crore

TCS was almost unchanged at Rs 570.80. The company is reported to have paid 171.6% higher advance tax to Rs 220 crore

Asian Paints rose 0.98% to Rs 1385. The company is reported to have paid 70% higher advance tax at Rs 85 crore

Asian markets swung higher

Sydney, Sensex, Seoul, Hang Seng, Taiex finish higher while Shanghai gave up gains

Stock market in Asian region swept to their highest levels for 2009 on Wednesday, 16 September 2009, after upbeat US economic news boosted riskier assets leveraged to global growth, while the US dollar slipped to a one-year low. Most major Asian stock indexes posted gains of 1% or more in the wake of Tuesday's strong reading on US retail sales, with exporting countries leading the way.

On Wall Street, the major stock averages closed at new highs for the year, boosted by comments from Fed Chairman Ben Bernanke and data that showed greater-than-expected increases in sales and manufacturing. The S&P 500 advanced 3.29, or 0.3%, to 1052.63, and the Nasdaq Composite advanced 10.86 points, or 0.5%, to 2102.64 -- both new highs for the year. The Dow Jones Industrial Average added 56.61 points, or 0.6%, to 9683.41, its highest close since October 6, 2008.

On the economic front, the Department of Commerce said retail sales increased 2.3% in August, after a 0.2% declines the month prior. When autos were factored out, sales increased 1.1%, well above expectations for an 0.4% increase.

In the commodity market, crude oil fell after an industry report showed an increase in distillate and crude stockpiles in the U.S., the world’s biggest energy consumer.

Crude oil for October delivery was at $70.60 a barrel, down 33 cents, in electronic trading on the New York Mercantile Exchange as of 9:55 a.m. London time. The contract earlier fell 1.1%. Yesterday, the contract rose $2.07 to settle at $70.93, the biggest increase since 8 September 2009.

Brent crude oil for November settlement on the London-based ICE Futures Europe exchange was at $69.55 a barrel, down 31 cents, at 9:05 a.m. London time. The October contract expired yesterday at $67.35 a barrel, down 9 cents.

Gold climbed to an 18-month high in London on concern that a global economic recovery may stoke inflation and on a drop by the dollar that boosted demand for the metal as an alternative investment. Immediate-delivery bullion advanced as much as $10.60, or 1.1%, to $1,018.15 an ounce and traded at $1,014.88 by 9:45 a.m. London time. December gold futures were 1% higher at $1,016.40 an ounce on the New York Mercantile Exchange’s Comex division.

In the currency market, US dollar weakness resumes and made a new low against basket of currencies on the back of rally resumption in US stocks and Gold.

The Japanese yen softened against major currencies. The Japanese yen was quoted at 91 against the US dollar and 133.35 against euro

The Hong Kong dollar was trading at HK$ 7.7499 against the dollar. Actually The Hong Kong dollar is pegged at HK$ 7.8 to the U.S. dollar but can trade between HK$ 7.75 and HK$7.85 to the U.S. dollar.

In Sydney trade, the Australian dollar advanced to near 1-year highs against a weak US dollar on Wednesday as a recent shift towards riskier assets like high-yielding currencies and stocks gathered pace. At the local close, Aussie was at $US0.8669, not far from a one-year high of $US0.8677, though it faces strong resistance around $US0.8720. Yesterday it closed at $US0.8609.

In Wellington trade, The New Zealand dollar firmed against major currencies overnight as gains in global stock markets improved investors' appetite for risk. By 5pm today the NZ dollar was buying US71.22c from US70.14c at 5pm yesterday.

The South Korean won ended at 1,211.2 won to the U.S. dollar, up 7.2 won from Tuesday's close. The unit jumped to the strongest level for this year after bullish stock markets boosted foreign investors' demand and a global downtrend of the dollar raised the value of the won.

The Taiwan dollar strengthened against the greenback. The Taiwan dollar was trading higher against the US dollar at NT$ 32.5290, 0.1080 up from Tuesday’s close of NT$32.6370.

In the Asian equities, indices in Hong Kong, Australia, South Korea and Taiwan ended at their highest levels of 2009, reflecting buoyant investor sentiment in the region and tracking a similar upbeat performance on Wall Street.

In Japan, shares market finished the session in diverse note; after opening higher buoyed by exporters following the robust US monthly retail sales and manufacturing reports rekindled hopes of a speedy economic recovery. But most of morning gains were pared in the late trading, with decline in Banks and financials as investors banked profit amid concern recent rally was overdone and ahead of new government formation of Japan new government later in the day.

At the closing bell, the Nikkei 225 Stock Average index added 53.15 points, or 052%, to 10,270.77, while the broader Topix stumbled 1.09 points, or 0.12%, to 931.43.

In Mainland China, share market tumbled snapping three days of winning streak, weighed down by market heavyweights. Financials drag the most amid worries over uncertainties on the government’s monetary measures later this year. Energy and industrial sector tumbled amid worries recent rally was overdone. The Shanghai Composite Index, measuring A shares and B shares on the Shanghai Stock Exchange, stumbled 34.02 points, or 1.12% to 2,999.71, while the CSI 300 Index, measuring exchanges in Shanghai and Shenzhen, tumbled 1.34%, to 3,258.24.

In Hong Kong, the stock market snapped two days of loosing streak, with all the sectoral indices contributed to the rally as robust US monthly retail sales and manufacturing report rekindled hopes the global economy in on track. Financials and properties led the rally as strong economic data in the United States reinforced hopes of turnaround in the global economy. Exporters gained ground following the robust US monthly retail sales figures.

The Hang Seng Index spurted 536.55 points, or 2.57%, to 21,402.92, while the Hang Seng China Enterprise surged 369.65 points, or 3.04%, to 12,525.72.

In Australia, the shares market surged, with benchmark indices hit fresh eleven month high on the back of solid gains across the board, buoyed by positive global cues and firmer commodities prices. Telstra shares led the rally on bottom fishing following yesterday sell off after the Government’s plan to split the company.

At the closing bell, the benchmark S&P/ASX200 index surged 110.10 points, or 2.42%, to 4,650.40, meanwhile the broader All Ordinaries added 105.6 points, or 2.32%, to 4,652.8.

On the economic front, the Westpac–Melbourne Institute Leading Index indicated the pace of economic activity in the next three to nine months was continuing to improve. Although the July index was minus 1.8%, below the long-term trend of 2.5%, it has improved from minus 7% as recently as May.

In New Zealand, stock market ended the day in the positive terrain although the gains were mild although most of the Asian bourses registered strong gains. Moat of the Asian markets were trailing gains on the Wall Street overnight, however, Shanghai-listed stocks plowed lower in morning trade, with some of the exchange's largest stocks moving down on likely profit-taking. The NZX50 gained 0.58% or 17.96 points to 3117.58. The NZX 15 increased 0.40% or 22.94 points to close at 5705.66.

In South Korea, stocks closed higher, underpinned by bullish trading on Wall Street and solid institutional buying. The benchmark Korea Composite Stock Price Index (KOSPI) soared 29.93 points to end at 1,683.33, setting a new high for the year.

In Singapore, stock market surged led by banks and major blue chips stocks on rekindled hopes of a speedy economic recovery after a positive economic data out of the US. Shares of property developers swelled, following two days of losses triggered by the government’s plan to prevent excessive price swings in the housing market. Manufacturing and multi industries gained the ground, climbing along with metal and crude oil prices. The blue chip Straits Times Index was ended at 2,674.42, gained 36.02 points, or 1.37%.

In Taiwan, stock market pull in some gains, finishing at highest close in more than 14 months, as positive retail sales data from the United States boosted buying in technology shares. The benchmark Taiex share index consolidated gains as it finished the session higher by 93.98 points or 1.28% in a day, closing the day at 7440.24, achieving a new fourteen and half month high status by showing the closing not seen from 30 June 2008 when market closed at 7523.54.

On the economic front, about 23,303 new cars were sold in Taiwan in August, a 143.7% year-on-year (YoY) increase and over 20,000-vehicle volume for the third consecutive month to signal recovery in the market.

According to the Ministry of Transportation and Communications (MOTC), all the top-seven automakers enjoyed high year on year sales increase last month, including Hotai Motor Company that enjoyed an amazing 349.7% sales increase from that last year. In August, Hotai sold 10,128 vehicles, accounting for 43.5% of the overall market, compared to 2,438 vehicles sold by No. 2 China Motor Corporation (CMC), who reported a 120.8% year on year shipment increase in the month for a 14.1% share.

In Philippines, a continued wave of sell off from a 14 month high pushed the Philippines stocks lower despite the cues from the global markets turning positive. The market participants ignored the positive array of economic data as well and made the local markets give away the early gains to close in red. The benchmark PSEi ended down more than a percent in intraday moves as the broad area around 2880-90 fatigued the investors and lack of buying in a highly overbought market weighed higher in stocks belonging to services and industrial sectors. At the final bell, the benchmark index PSEi lost 0.74% or 20.75 points to 2,768.61, while the All Shares index tumbled 0.33% or 5.94 points to 1,778.78.

In India, the key benchmark indices surged to their highest level in nearly 16-months in late trade tracking firm global stocks. The sentiment was upbeat as preliminary data showing a strong growth in advance tax payment by India Inc raised expectations of decent-to-strong Q2 September 2009 results. Comments by the Reserve Bank of India governor that the central bank won't hike interest rates until economic recovery is firmly on track also supported stocks.

The BSE 30-share Sensex was up 222.59 points or 1.35% to 16,677.04. The Sensex rose 246.11 points the day's high of 16,700.56 in late trade, it’s highest since 23 May 2008. The barometer index rose 44.14 points at the day's low of 16,498.59 in early trade. The S&P CNX Nifty was up 66.30 points or 1.36% to 4958.40. It hit a high of 4966.30 in late trade; it’s highest since 23 May 2008.

Elsewhere, Malaysia's Kula Lumpur Composite index went up 0.46% or 5.51 points to 1212.98 while stock markets in Indonesia’s Jakarta Composite index ended the day higher at 2439.36.

In other regional market, European shares rose for the ninth time in ten sessions on Wednesday, with miners and construction firms in the lead, as investors bought up shares in the hope that there will be a sustained recovery in the global economy. On a regional level, the U.K. FTSE 100 index rose 1.46% or 73.47 points to 5,116, the German DAX index climbed 0.87% or 48.84 points to 5,678 and the French CAC-40 index climbed 1.38% or 51.62 point to 3,804.

Pipavav Shipyard IPO subscribed nearly 2 times

By 16:00 IST on day one

Close on the heels of a robust investor response to the initial public offer of Oil India, the IPO of the private sector ship builder, Pipavav Shipyard, was fully subscribed within an hour of opening of the issue today, 16 September 2009. By 16:00 IST on day one, the IPO was subscribed nearly 2 times. The issue size is 7.01 crore shares, excluding allotment made to anchor investors.

The company has allotted 1.52 crore shares to anchor investors at the top-end of the Rs 55-Rs 60 price band. The IPO has received commitment of Rs 92 crore from six anchor investors- Batterymarch Financial Management, Commonwealth Equity Fund, California Public Employee's Retirement System managed by Batterymarch Financial Management, GI India II, India Diversified (Mauritius) and Marshal India Select Fund.

The company, promoted by engineering major Punj Lloyd, SKIL and Grevek Investments, intends to utilise the IPO proceeds for the construction of facilities for shipbuilding, ship repair and for working capital requirements.

Pipavav Shipyard is setting up a modern shipyard at a cost of Rs 2995.18 crore on the west coast of the country adjacent to Pipavav Port in Amreli district of Gujarat. On completion of the construction of the shipyard, Pipavav Shipyard will have the capability to construct and repair a wide range of vessels up to 4,00,000 dead weight tonnage (DWT) including very large crude carriers (VLCCs) and large naval and coast-guard Vessels. The company began commercial operations from 1 April 2009.

ICRA

ICRA

Tantia Constructions

Tantia Constructions

Analysis - Pipavav Shipyard IPO Note

Analysis - Pipavav Shipyard IPO Note

ICSA, Telecom, Thermax, Opto Circuits

ICSA, Telecom, Thermax, Opto Circuits

Sensex scales new peak

Sensex was up early and held on the gains right till the closing bell for the second consecutive day led by gains in metal, auto and consumer durable stocks.

The market resumed on a strong note backed by positive global cues and strong investor appetite for heavyweights. Sensex quickly breached 16500 levels in early trades and held on the gains. Relentless buying in front-line stocks towards the close helped the index to touch to intra-day high of 16701, up 246 points. Sensex finally wrapped the session 223 points higher at 16677. Nifty closed the session at 4958 by adding 66 points.

Advancing scrips outdid the declining ones. On the BSE 1,575 stocks advanced, whereas 1243 stocks declined. Sixty four stocks ended unchanged. All the sectors were up for the day with BSE Metal (metal index), BSE Auto and BSE CD (consumer durable index) topped the chart posting gains of 4.20%, 2.23% and 2.17% respectively.

Several index heavyweights chipped in for today’s rise. Fifth largest steel maker Tata Steel led the pack shooting up 8.21% to Rs531.60. India’s largest truck maker Tata Motors soared 6.22% to Rs604.65, India’s largest aluminium maker Hindalco Industries surged 4.96% to Rs131.30, largest public sector lender State Bank of India flared up by 4.00% to Rs2,089.60, largest copper maker Sterlite Industries added 3.71% to quote at Rs771.05. World’s largest two-wheeler maker Hero Honda Motors advanced 3.65% to Rs1,674.10, cement major ACC gained 3.22% to trade at Rs 798.80, Conglomerate Grasim Industries moved up 3.05% to Rs2,691.90 and private sector lender ICICI Bank surged 3.00% to Rs 867.55. However, FMCG major Hindustan Uniliver, Wipro, Reliance Infrastructure, HDFC, ONGC and Tata Consultancy Services were down marginally.

Metal stocks rallied sharply. Tata Steel shot up 8.21% to Rs531.60, SAIL India soared 6.98% to Rs179.40, JSW Steel flared up by 5.67% to Rs809.25.

Over 2.03 crore shares of Ispat Industries changed hands on the BSE followed by IFCI (1.64 crore shares), Suzlon Energy (1.00 crore shares), Unitech (98.42 lakh shares) and Tata Steel (61.10 lakh shares).

Post Market Commentary - Sep 16 2009

Indian market continued its rally for the second straight session to close with phenomenal gains tracking firm cues from the markets all over the world. Market rose to the highest level in around 16 months during the trading by growing optimism about recovery in market conditions on preliminary data showing higher advance tax collection in second quarter. In addition, sentiments also helped on hopes that US is departing out of recession. Federal Reserve Chairman Ben Bernanke said the U.S. recession was likely over. Going ahead, higher US index futures also contributed to the northward journey. Further, stocks exhibited a good show after RBI governor stated that the central bank will not hike interest rates before economic recovery will come on track. The BSE Sensex ended above16,650 level and NSE Nifty closed around 4,950 mark.

Market opened sharply higher on bullish sentiments led by favorable global markets along with reports of higher advance tax payment by some top Indian firms. The US stock markets closed at a new 2009 high on Tuesday, on strong economic data that supported sentiment. The upward movement was also contributed by 3.0% gain in crude oil prices. In addition, the improvement in retail sales in August reassured investors about a bounce back in U.S. economic demand. Further, Indian benchmark continued to trade with good gains on sustained buying over the counters. Finally, strong buying spree over the ground led market to rise sharply during final trading hours to close near day’s high. From the sectoral front, all indices ended in green barring Oil & Gas stocks. Apart from that, most of buying was witnessed in Metal, Consumer Durable, Bank, Auto, Realty, Teck and IT stocks. BSE Mid Caps and Small Caps stocks also remained in limelight during the trading.

Among the Sensex pack 24 stocks ended in green territory and 4 in red territory. The market breadth indicating the overall health of the market remained positive as 1575 stocks closed in green while 1243 stocks closed in red and 64 stocks remained unchanged in BSE.

The BSE Sensex closed higher by 222.59 points or (1.35%) at 16,677.04 and NSE Nifty ended up by 66.30 points or (1.36%) at 4,958.40. BSE Mid Caps and Small Caps closed with gains of 87.85 and 79.43 points at 6,126.92 and 7,308.11 respectively. The BSE Sensex touched intraday high of 16,700.56 and intraday low of 16,498.59.

Gainers from the BSE Sensex pack are Tata Steel (8.21%), Tata Motors (6.22%), Hindalco (4.96%), SBI (4%), Sterltie Industries (3.71%), Herohonda Motors (3.65%), ACC Ltd (3.22%), Grasim Industries (3.05%), ICICI Bank (3%), RCom (2.51%), Infosys Tech (2.10%), M&M Ltd (1.96%), Tata Power (1.58%), DLF Ltd (1.39%) and Maruti Suzuki (1.09%).

Losers from the BSE Sensex pack are HUL (0.91%), Wipro Ltd (0.73%), Reliance Infra (0.66%), HDFC (0.64%) and ONGC Ltd (0.20%).

On the global markets front, the Asian markets that opened before the Indian market, ended higher boosted by higher August retail sales in the US. Hang Seng, Nikkei 225, Singapore''s Straits Times Index and Seoul Composite closed up by 536.55, 53.15, 36.02 and 29.93 points at 21,402.92, 10,230.77, 2,674.42 and 1,683.33 respectively. However, Shanghai Composite lost 34.02 points at 2,999.71 respectively.

European markets, which opened after the Indian market, are trading in green on hopes that US is going out of recession. In Paris the CAC 40 is higher by 46.97 points at 3,799.18, in Frankfurt DAX index is trading up by 46.67 points at 5,675.65 and in London FTSE 100 is trading higher 66.31 points at 5,108.44.

The BSE Metal index ended up by (4.20%) or 585.48 points 14,527.67. Gainers are Tata Steel (8.21%), Steel Auhority (6.98%), JSW Steel (5.67%), Hindalco (4.96%) and Sterlite Industries (3.71%).

The BSE Auto index gained (2.23%) or 138.91 points 6,373.85. Tata Motors (6.22%), Bharat Forge (5.29%), Herohonda Motors (3.65%), Ashok Leyland (3.43%), and Escorts Ltd (3.36%) ended in green.

The BSE Consumer Durable index gained (2.17%) or 73.48 points at 3,459.25. Gainers are Rajesh Export (11.24%), Gitnajali GE (4.05%), Titan Ind (1.61%), Blue Star L (0.64%) and Videocon Ind (0.41%).

The BSE Bank index advanced by (1.99%) or 182.36 points at 9,361.27. Main gainers are Pnjab National Bank (4.01%), SBI (4%), Indus Ind Bank (3.57%), Union Bank (3.33%) and ICICI Bank (3%).

The BSE Realty index closed higher by (1.8%) or 78.96 points at 4,457.07. Gainers are Housing Dev (5.43%), Anant Raj (3.81%), Pheonix Mill (2.65%), Unitech Ltd (2.07%) and DLF Ltd (1.39%).

The BSE Oil & Gas index lost (0.08%) or 8.34 points at 10,375.75, as Gail India (1.91%), HPCL (1.09%), BPCL (1.06%) and ONGC Ltd (0.20%) closed in negative terrain.

Sonata Software ended up by 0.69%. The company has launched Sonnet QCheck Test Consulting Services. Based on the Test Maturity Model (TMM), Sonnet QCheck enables organizations to mitigate testing challenges, improve testing efficiencies and reduce overall cost of operations.

Prakash Industries Limited increased by 4.05%. The company is expanding its Power Generation capacity from the present 100 MW to 725 MW. The company has already been allotted additional Fatehpur Coal Block for this power project.

Orchid Chemicals & Pharmaceuticals Ltd zoomed 24.73%. The company has received approvals from the USFDA for its Abbreviated New Drug Applications (ANDAs) for Piperacilliu and Tazobactam for Injection.

LIC Housing Finance Ltd surged 11.35% on reports the company has raised 658 crore by selling 1 crore shares to institutional investors at an average price of Rs. 658 per share.

Anuh Pharma Ltd spurted 8.54% after the company said its manufacturing facility will receive European Good Manufacturing Practices certificate.

Reliance Communication Ltd gained 2.51% on reports the company has initiated talks with its overseas lenders to revise the terms of the $1 billion unsecured external commercial borrowings, which the company raised in 2007.

Jaiprakash Associates Ltd advanced 0.84% after a block deal of five lakh shares was executed on NSE at Rs. 241.85 per share.

Tata Consultancy Services lost 0.11%. The company announced the opening of a new Global Delivery Center in Buenos Aires, Argentina, which is the first company to officially inaugurate its facilities in the new Technology District of the City of Buenos Aires.

Subex Ltd dropped by 0.44%. The company announced the launch of Asset Assurance, a Data Integrity Management (DIM) solution. The solution will enable CSPs to identify and discover expensive and rapidly changing network assets, thereby enhancing the accuracy of asset management and inventory systems.

BSE Bulk Deals to Watch - Sep 16 2009

Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
16/9/2009 533022 20 MICRONS HITESH SHASHIKANT JHAVERI B 107347 43.70
16/9/2009 533022 20 MICRONS BP FINTRADE PRIVATE LIMITED B 96380 43.73
16/9/2009 533022 20 MICRONS HITESH SHASHIKANT JHAVERI S 84897 43.80
16/9/2009 533022 20 MICRONS BP FINTRADE PRIVATE LIMITED S 95141 43.61
16/9/2009 531728 AMRIT BANAS AMRUT STEEL P.LTD. B 40314 53.75
16/9/2009 531728 AMRIT BANAS B.K.KHULLAR & CO. S 40314 53.75
16/9/2009 590006 AMRUTANJAN RAHUL DOSHI B 18688 535.28
16/9/2009 590006 AMRUTANJAN Naman Securities & Finance Pvt. Ltd. B 65922 568.47
16/9/2009 590006 AMRUTANJAN RAHUL DOSHI S 16188 537.43
16/9/2009 590006 AMRUTANJAN Naman Securities & Finance Pvt. Ltd. S 54598 569.33
16/9/2009 500463 AVAYA GLOBAL JMP SECURITIES PVT LTD B 100157 212.33
16/9/2009 500463 AVAYA GLOBAL JMP SECURITIES PVT LTD S 98907 213.69
16/9/2009 500045 BELLA STE AL ANGEL INFIN PRIVATE LIMITED B 1825302 4.09
16/9/2009 500045 BELLA STE AL JMP SECURITIES PVT LTD B 3969252 4.09
16/9/2009 500045 BELLA STE AL JMP SECURITIES PVT LTD S 4330252 4.09
16/9/2009 500069 BNK CAPITAL BRIJNATH KHANDELWAL AND CO. S 112500 46.50
16/9/2009 590076 CAMSON BIO SUVARNA KUMARI AGARWAL S 100000 88.99
16/9/2009 533026 CHEMCEL NUPOOR CAPITALS LIMITED B 184237 8.55
16/9/2009 533026 CHEMCEL GANESHAM KRIPA ENT PVT LTD S 183412 8.55
16/9/2009 533055 EDSERV SOFT HITESH SHASHIKANT JHAVERI B 72682 132.82
16/9/2009 533055 EDSERV SOFT HITESH SHASHIKANT JHAVERI S 68035 132.35
16/9/2009 533055 EDSERV SOFT BP FINTRADE PRIVATE LIMITED S 72009 132.51
16/9/2009 532022 FILAT FASH ASHA RAJESH SHAH B 100000 42.60
16/9/2009 532022 FILAT FASH SHAILESH VED B 50000 42.72
16/9/2009 532022 FILAT FASH BUNIYAD CHEMICALS LTD B 45000 42.72
16/9/2009 532022 FILAT FASH PARI STOCK TRADING PVT LTD B 164275 42.50
16/9/2009 532022 FILAT FASH AYODHYAPATI INVESTMENT PVT. LTD B 100000 42.60
16/9/2009 532022 FILAT FASH RAJESH RAMCHANDRA GUPTA B 70000 42.38
16/9/2009 532022 FILAT FASH AADESH COMMODITIES PRIVATE LTD B 124100 42.20
16/9/2009 532022 FILAT FASH SUNIL AMARLAL SHROFF S 47000 42.55
16/9/2009 532022 FILAT FASH PRAKASH KUMAR DEVSHILAL SHETH S 33273 41.83
16/9/2009 532022 FILAT FASH PARI STOCK TRADING PVT LTD S 104904 42.01
16/9/2009 532022 FILAT FASH SUNITA LAKHOTIA S 35000 42.80
16/9/2009 532022 FILAT FASH SUMAN KUMARI S 59000 42.50
16/9/2009 532022 FILAT FASH AADESH COMMODITIES PRIVATE LTD S 124100 42.63
16/9/2009 532022 FILAT FASH LALIT C JAIN S 40000 42.65
16/9/2009 530945 GANGOTRI I&S GBK RESOURCES PVT LTD S 53913 24.89
16/9/2009 531137 GEMSTONE INV VISHESH SHAHRA B 100000 40.00
16/9/2009 531137 GEMSTONE INV ARCADIA SHARE & STOCK BROKERS PVT. LTD S 100000 39.51
16/9/2009 531137 GEMSTONE INV ANKIT RAJENDRA SANCHANIYA S 30375 40.00
16/9/2009 532990 GMR FERRO ARCADIA SHARE & STOCK BROKERS PVT. LTD B 69899 34.33
16/9/2009 532786 GREAT OFFSH DHANASHREE PROPERTIES PVT. LTD B 756267 558.80
16/9/2009 532139 GTECH INFOTR CHANDRAKANT B SHAH B 914937 1.26
16/9/2009 532139 GTECH INFOTR BHARAT GANGASINGH VAGHELA B 917327 1.26
16/9/2009 532139 GTECH INFOTR JASMIN S BAJORIYA B 565000 1.26
16/9/2009 532139 GTECH INFOTR SAROJ MAHESH THAPAR S 980000 1.26
16/9/2009 532139 GTECH INFOTR MAHESHKUMAR THAPAR S 982797 1.26
16/9/2009 526931 HARIYANA SH. JAGDISH CHANDER BANSAL & SONS HUF B 35000 45.50
16/9/2009 526931 HARIYANA SH. JAGDISH BANSAL S 35000 45.50
16/9/2009 506170 HIRAN ORGOCH ESSAN CONSULTANT PVT.LTD S 94000 13.20
16/9/2009 523467 JAI MATA GLA JMP SECURITIES PVT LTD S 21198 7.53
16/9/2009 531261 KUSHAGRA SO KEYSTONE STOCKFIN PVT LTD S 274399 9.35
16/9/2009 509048 LANCOR HOLDS SHEKAR VISWANATH RAJAMANI B 142700 85.64
16/9/2009 532740 LOKESH MACH RAJESH KUMAR BIPINBHAI PATEL B 154290 48.51
16/9/2009 532740 LOKESH MACH RAJESH KUMAR BIPINBHAI PATEL S 154290 49.37
16/9/2009 531146 MEDICAMN BIO DILIP RAMANLAL VAKHARIA B 45880 21.27
16/9/2009 531146 MEDICAMN BIO DILIP RAMANLAL VAKHARIA S 70371 19.54
16/9/2009 532045 NEXXOFT INFO KALPANA MADHANI SECURITIES PVT. LTD. B 30000 18.50
16/9/2009 532045 NEXXOFT INFO VJ PATEL INVESTMENT S 40295 18.50
16/9/2009 532045 NEXXOFT INFO NEETU PARIN SHAH S 48467 18.50
16/9/2009 531996 ODYSSEY CORP BHAROSEMAND COMMODITIES P LTD B 53600 20.90
16/9/2009 531996 ODYSSEY CORP MADINA GULAMALI GHEEWALA S 30898 20.90
16/9/2009 531996 ODYSSEY CORP MARIAM EBRAHIM GHEEWALA S 26000 20.90
16/9/2009 524372 ORCHID CHEM GENUINE STOCK BROKERS PVT. LTD. B 851489 150.16
16/9/2009 524372 ORCHID CHEM OPG SECURITIES P LTD B 1002847 151.33
16/9/2009 524372 ORCHID CHEM GENUINE STOCK BROKERS PVT. LTD. S 853884 150.40
16/9/2009 524372 ORCHID CHEM OPG SECURITIES P LTD S 1002847 151.35
16/9/2009 504093 PANA ENERG DILIP RAMANLAL VAKHARIA B 52682 65.47
16/9/2009 511702 PARSHART INV ASHLESH GUNVANTBHAI SHAH B 100000 15.04
16/9/2009 511702 PARSHART INV JOSHI KIRTIKUMAR M B 19000 15.00
16/9/2009 511702 PARSHART INV KETAN RAJENDRABHAI ACHARYA S 25000 15.00
16/9/2009 531952 RIBA TEXTILE JMP SECURITIES PVT LTD B 62000 21.30
16/9/2009 531952 RIBA TEXTILE BHAVIN Y MEHTA B 50000 21.30
16/9/2009 531952 RIBA TEXTILE NIKHIL VINUKANT SHAH S 52812 21.30
16/9/2009 531952 RIBA TEXTILE BELA TUSHAR ZAVERI S 37117 21.30
16/9/2009 531952 RIBA TEXTILE JMP SECURITIES PVT LTD S 80000 21.30
16/9/2009 531901 SAARC NET GOVIND SHARDA S 313730 3.33
16/9/2009 506172 SAMPADA CHEM THE PREMIER COMMERCIAL COPVT LTD S 50000 26.10
16/9/2009 531898 SANGUINE MD BHARAT DEVCHANDBHAI PATEL S 100000 3.24
16/9/2009 524540 SECUN HEALTH SOBHA CHAND BHANSALI S 22238 31.85
16/9/2009 524540 SECUN HEALTH DHARMENDRA J MADHANI S 28246 31.84
16/9/2009 532886 SEL MANUF RITU SALUJA S 136000 72.73
16/9/2009 532886 SEL MANUF ARPIT SHARE BROKERS PRIVATE LIMITED S 90000 74.13
16/9/2009 511413 SHARYAN RESO MINDSET TECHNOLOGIES PVT LTD S 107760 81.01
16/9/2009 512289 SHIRPUR GLD HITESH SHASHIKANT JHAVERI B 135992 125.65
16/9/2009 512289 SHIRPUR GLD HITESH SHASHIKANT JHAVERI S 80098 125.65
16/9/2009 512413 SPECTACLE PREM MOHANLAL PARIKH S 305200 54.32
16/9/2009 500285 SPICEJET LTD SUNDARAM BNP PARIBAS TAX SAVEROPEN ENDED FUND B 2102900 30.67
16/9/2009 500285 SPICEJET LTD SUNDARAM BNP PARIBAS MUTUAL FUND A/C SUNDARAM SELECT MIDCAP FUND B 1308387 29.90
16/9/2009 526500 STR GRE WOO PAKSH DEVELOPERS PVT. LTD S 118014 43.29
16/9/2009 531444 STRESSDCRE I PARAM CAPITAL S 25000 13.00
16/9/2009 503657 VEER ENERGY AANGI SHARES & SERVICES PVT. LTD. B 278744 24.14
16/9/2009 503657 VEER ENERGY AANGI SHARES & SERVICES PVT. LTD. S 427054 24.18
16/9/2009 526755 VELAN HOTELS THAKER SINGH B 42680 13.84
16/9/2009 531874 VENUS VENT MANOJ C RATHOD-HUF S 27450 57.96
16/9/2009 531249 WELL PACK PA TUSHAR RAMESHBHAI PATEL B 27778 260.27
16/9/2009 531249 WELL PACK PA OMPARKASH GUPTA B 31970 254.38
16/9/2009 531249 WELL PACK PA OMPARKASH GUPTA S 29131 252.87

NSE Bulk Deals to Watch - Sep 16 2009

Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
16-SEP-2009,ABAN,Aban Offshore Ltd.,C D INTEGRATED SERVICES LTD.,BUY,189832,1603.81,-
16-SEP-2009,CLASSIC,Classic Diamonds (India),RAJ KUMAR GUPTA MR (C46),BUY,287746,21.30,-
16-SEP-2009,DHANUS,Dhanus Technologies Limit,KODALI RAVI KUMAR,BUY,100000,40.37,-
16-SEP-2009,GMRFER,GMR Ferro Alloys & Indust,AJAY ASSET MANAGEMENT PRIVATE LIMITED,BUY,95058,35.63,-
16-SEP-2009,GMRFER,GMR Ferro Alloys & Indust,SETU SECURITIES LTD,BUY,63041,35.64,-
16-SEP-2009,GTOFFSHORE,Great Offshore Limited,DHANASHREE PROPERTIES PVT. LTD,BUY,360000,558.82,-
16-SEP-2009,ISPATIND,Ispat Industries Limited,JAYPEE CAPITAL SERVICES LTD.,BUY,13802167,23.85,-
16-SEP-2009,LOKESHMACH,LOKESH MACHINES LIMITED,PATEL RAJESHKUMAR BIPINBHAI,BUY,128237,48.79,-
16-SEP-2009,ORCHIDCHEM,Orchid Chemicals Ltd.,C D INTEGRATED SERVICES LTD.,BUY,498090,152.61,-
16-SEP-2009,ORCHIDCHEM,Orchid Chemicals Ltd.,GENUINE STOCK BROKERS PVT LTD,BUY,1092899,151.71,-
16-SEP-2009,ORCHIDCHEM,Orchid Chemicals Ltd.,JAYPEE CAPITAL SERVICES LTD.,BUY,520735,145.03,-
16-SEP-2009,ORCHIDCHEM,Orchid Chemicals Ltd.,OM INVESTMENTS,BUY,510918,148.64,-
16-SEP-2009,ORCHIDCHEM,Orchid Chemicals Ltd.,SERUM INSTITUTE OF INDIA LTD,BUY,490000,139.30,-
16-SEP-2009,SELMCL,SEL Manufacturing Company,RITU SALUJA,BUY,20,72.25,-
16-SEP-2009,ABAN,Aban Offshore Ltd.,C D INTEGRATED SERVICES LTD.,SELL,189832,1604.47,-
16-SEP-2009,GMRFER,GMR Ferro Alloys & Indust,AJAY ASSET MANAGEMENT PRIVATE LIMITED,SELL,70058,35.80,-
16-SEP-2009,GMRFER,GMR Ferro Alloys & Indust,SETU SECURITIES LTD,SELL,27985,35.43,-
16-SEP-2009,GTOFFSHORE,Great Offshore Limited,VIDEOCON INDUSRTIES LTD.,SELL,223600,556.66,-
16-SEP-2009,ISPATIND,Ispat Industries Limited,JAYPEE CAPITAL SERVICES LTD.,SELL,13802167,23.86,-
16-SEP-2009,KFA,Kingfisher Airlines Ltd.,KANNANTHANAM JOSEPH SAMUEL,SELL,2850000,47.13,-
16-SEP-2009,LOKESHMACH,LOKESH MACHINES LIMITED,PATEL RAJESHKUMAR BIPINBHAI,SELL,128237,48.79,-
16-SEP-2009,ORCHIDCHEM,Orchid Chemicals Ltd.,C D INTEGRATED SERVICES LTD.,SELL,498090,152.74,-
16-SEP-2009,ORCHIDCHEM,Orchid Chemicals Ltd.,GENUINE STOCK BROKERS PVT LTD,SELL,1091504,151.67,-
16-SEP-2009,ORCHIDCHEM,Orchid Chemicals Ltd.,JAYPEE CAPITAL SERVICES LTD.,SELL,520735,145.57,-
16-SEP-2009,ORCHIDCHEM,Orchid Chemicals Ltd.,OM INVESTMENTS,SELL,510918,148.74,-
16-SEP-2009,SELMCL,SEL Manufacturing Company,RITU SALUJA,SELL,264020,72.82,-

Firm global stocks propel Sensex to highest level in nearly 16 months

The key benchmark indices surged to their highest level in nearly 16-months tracking firm global stocks. The market gained for the second straight day after taking a breather on Monday, 14 September 2009, following gains in the preceding six trading sessions. The BSE 30-share Sensex rose 222.59 points or 1.35%. The sentiment was upbeat as preliminary data showing a strong growth in advance tax payment by India Inc raised expectations of decent-to-strong Q2 September 2009 results. Comments by the Reserve Bank of India governor that the central bank won't hike interest rates until economic recovery is firmly on track, also supported stocks.

Metal, banking, auto and cement stocks led the rally. Index heavyweight Reliance Industries (RIL) moved between positive and negative zone. The market breadth was strong.

As per provisional data, foreign funds today, 16 September 2009, lapped up stocks worth a net Rs 1,105.64 crore. Domestic funds bought equities worth a net Rs 143.45 crore.

After an initial surge triggered by higher Asian stocks, the market soon pared gains. The market firmed up again in mid-morning trade. A range bound movement was witnessed later. The market surged in mid-afternoon trade as US index futures rose. The Sensex hit a fresh intraday high in late trade.

Higher advance tax payment by some of the top firms in the second installment of 15 September 2009 means their profits may rise in Q2 September 2009 over Q2 September 2008. As per reports, State Bank of India, India's biggest commercial bank by branch network, has paid Rs 1838 crore in advance tax in the second installment as against Rs 1500 crore paid in last year. HDFC Bank paid Rs 425 crore advance tax against Rs 315 crore last year. But, ICICI Bank paid lower tax of Rs 501 crore against Rs 575 crore last year.

Larsen & Toubro paid Rs 210 crore as against Rs 150 crore last year. Reliance Industries paid Rs 1157 crore in advance tax against Rs 683 crore paid in last year. But, Tata Steel paid a sharply lower advance tax of Rs 400 crore Rs 1000 crore paid in last year.

Software major TCS has reportedly paid Rs 220 crore as against Rs 81 crore. Tractor major Mahindra & Mahindra paid Rs 112 crore as against Rs 17.5- crore. Tata Motors paid advance tax of Rs 130 crore in the second installment, much higher than Rs 60 crore last year. Tata Power Company paid Rs 75 crore as against Rs 14 crore in last year.

The Reserve Bank of India (RBI) governor D Subbarao after trading hours on Tuesday said the central bank will not unwind its accommodative monetary policy until the economy is back on high-growth track. His comments belied some expectations that the RBI may begin to increase interest rates from as early as next month to contain rising inflationary pressures.

Meanwhile, the initial public offer (IPO) of the private sector ship builder, Pipavav Shipyard, was fully subscribed within an hour of opening of the issue today, 16 September 2009. At 16:00 IST today IPO was subscribed 1.94 times. The company also said it has allotted 1.52 crore shares to anchor investors at the top-end of the Rs 55-Rs 60 price band.

European shares rose on Wednesday, boosted by banks and commodities, with comments by US Federal Reserve chief Ben Bernanke that the recession was probably over, helping lift sentiment. Key benchmark indices in France, Germany and UK were up by between 0.9% to 1.41%.

Billionaire investor Warren Buffett told a conference in Carlsbad, California on Tuesday that the economy is responding to government stimulus measures.

World stocks have risen sharply from a trough in early March 2009 on hopes the global economic is recovering from a slump in late calendar 2008 caused by global financial crisis.

Asian shares hit their highest levels for 2009 on Wednesday after upbeat US economic data gave riskier assets, leveraged to global growth, a boost. The key benchmark indices in Hong Kong, Japan, South Korea, Singapore and Taiwan rose by between 0.52% to 2.57%.

But, China's Shanghai Composite index fell 1.12%. A row over Washington's decision to impose added duties on Chinese-made tyres showed no signs of abating, and Beijing said the US move has send a wrong message to the rest of the world.

Trading in US index futures indicated Dow could rise 40 points at the opening bell today, 16 September 2009.

US stocks closed at 2009 highs on Tuesday after stronger-than-expected manufacturing and retail sales data boosted commodity prices and shares of materials companies. The Dow Jones Industrial Average rose 54.72 points, or 0.57 % at 9,681.52. The Standard & Poor's 500 Index gained 3.30 points, or 0.31% to 1,052.64. The Nasdaq Composite Index rose 10.22 points, or 0.49 % to 2,102.00.

US government reported that retail sales jumped 2.7% in August 2009, more than the 2% expected and at the fastest pace in three-and-half years. In other economic news, the August producer price index rose 1.7%, higher than economists' expectations while core prices saw a 0.2% increase.

The BSE 30-share Sensex rose 222.59 points or 1.35% to 16,677.04, its highest closing since 22 May 2008. The Sensex rose 246.11 points the day's high of 16,700.56 in late trade. The barometer index rose 44.14 points at the day's low of 16,498.59 in early trade.

The S&P CNX Nifty rose 66.30 points or 1.36% to 4958.40 its highest closing since 22 May 2008. Nifty September 2009 futures were at 4968, at a premium of 9.60 points as compared to the spot closing of 4958.40. Turnover in NSE's futures & options (F&O) segment rose to Rs 70,086.74 crore from Rs 68,394.42 crore on Tuesday, 15 September 2009.

BSE clocked a turnover of Rs 6612 crore, higher than Rs 5494.39 crore on Tuesday, 15 September 2009.

Stocks have risen sharply this year on increased global risk appetite triggered by hopes of a recovery in the global economy after a setback from a financial sector crisis. The Sensex is up 7029.73 points or 72.86% in calendar year 2009 as on 16 September 2009. From a 3-year closing low of 8,160.40 on 9 March 2009, the Sensex is up 8516.64 points or 104.36% as on 16 September 2009. FII inflow in the calendar year 2009 totaled Rs 43,848.80 crore (till 15 September 2009).

Coming back to today's trade, the BSE Mid-Cap index rose 1.45% and outperformed Sensex. The BSE Small-Cap index rose 1.1% and underperformed Sensex.

All the sectoral indices on BSE were in green. the BSE Metal index (up 4.2%), the BSE Auto index (up 2.23%), the BSE Consumer Durables index (up 2.17%), the BSE Bankex (up 1.99%), the BSE Realty index (up 1.8%), the BSE IT index (up 1.45%), outperformed the Sensex.

The BSE Oil & Gas index (up 0.08%), the BSE FMCG index (up 0.23%), the BSE Capital Goods index (up 0.61%), the BSE Healthcare index (up 0.69%), the BSE PSU index (up 0.79%), the BSE Power index (up 1.03%), the BSE Teck index (up 1.34%), underperformed the Sensex.

The market breadth indicating the overall health of the market, was strong. On BSE, 1,566 shares rose as compared with 1,246 that declined. A total of 64 shares remained unchanged.

Among the 30-member Sensex pack, 24 rose and rest declined.

India's largest private sector firm by market capitalisation and oil refiner Reliance Industries (RIL) rose 0.15% to Rs 2183.50 on a jump in advance tax payment in the second installment. The stock hit a high of Rs 2210 and a low of Rs 2163.35. Reliance Industries on Tuesday said that it has fixed 29 September 2009 as the record date for shareholders of Reliance Petroleum (RPL) to receive equity shares of Reliance Industries under a merger scheme.

RIL executive director P.M.S. Prasad on Monday said the company's new 5,80,000 barrel-per-day (bpd) refinery in Gujarat is operating at close to full capacity.

RNRL last week told the Supreme Court that the government has no role to play either in the utilisation or the fixation of gas price as per its contract with Mukesh-led RIL. The two sides - RIL and RNRL had approached Supreme Court challenging a decision by the Bombay High Court on 15 June 2009, which said RIL should provide 28 million cubic metres of gas per day to RNRL at $ 2.34 per mmBtu and both the parties should sign a necessary agreement for the same within a month.

RIL, however, is pleading that it was only a contractor for the gas from the Krishna-Godavari basin's D6 block and did not have the power to fix the price, while the government has also moved a special leave petition in the case asserting its right on pricing and distribution of natural gas. The apex court has decided to commence hearing on this matter on 20 October 2009.

Metal stocks rose as LMEX, a gauge of six metals traded on the London Metal Exchange rose 1.2% on Tuesday, 15 September 2009. India's largest copper maker by sales Sterlite Industries rose 3.71%. The company on Friday said it had raised its open offer price for bankrupt US copper miner Asarco by a fifth to $2.565 billion. Sterlite, a unit of India-focused mining company Vedanta Resources, has been facing off with Mexican miner Grupo Mexico for the assets of Asarco, which has been under bankruptcy protection since 2005.

Among other metal stocks, Hindalco Industries, National Aluminum Company, JSW Steel, Steel Authority of India, rose by between 2.01% to 6.98%.

India's largest steel maker by sales Tata Steel rose 8.21% to Rs 531.63 on reports its European unit, Corus will soon restart its plant in South Wales on the back of rise in demand. The unit was shut in December 2008 as part of its plan to reduce production by 30%. From a recent low of Rs 417.45 on 1 September 2009, the has risen 28% in a short while.

Domestic steel makers raised prices of flat steel products such as plates and sheets, mainly used in manufacturing automobiles, refrigerators and washing machines, by about 3-5% from 1 September 2009, in line with international prices.

Tata's steel sales from Indian operations rose 25% to 4,92,000 tonnes in August 2009 over August 2008. The local operations contribute about a quarter of the group's total annual global capacity of 30 million tonnes, which includes Corus, Europe's second-largest steelmaker.

Auto stocks rose on hopes of strong sales in the upcoming festive season. India's top small car maker by sales Maruti Suzuki rose 1.09%.

India's largest bike maker by sales Hero Honda Motors rose 3.65%. Bajaj Auto rose 1.19% extending Tuesday's 7.87% rise on reports it has paid advance tax of Rs 170 crore in the second installment this year, much higher than Rs 50 crore in the corresponding period last year.

India's largest tractor maker by sales Mahindra & Mahindra rose 1.96% on jump in advance payment in the second installment.

India's largest truck maker by sales Tata Motors rose 6.22% on surge in advance tax payment in the second installment. Tata Motors is reportedly planning to sell about 10-15 % in subsidiary Tata Motors Finance to raise funds to reduce debt.

The company has a huge debt largely related to the purchase of Ford Motor's marquee brands Jaguar Land Rover last year, for which it took a loan of $3.2 billion and other debt to keep the loss-making unit running.

As per reports, the government will release pay arrears to government employees under the second and final installment ahead of big festivals in October 2009. The payout would boost demand for cars and motorcycles.

Car sales rose 26% to 120,669 units in August 2009 over August 2008 boosted by new launches and availability of cheaper loans, data released by the industry body Society of Indian Automobile Manufacturers on 8 September 2009, showed. Sales of trucks and buses rose 18.5% to 40,624 units and motorcycle sales rose 26% to 611,173 units.

Higher advance tax payment by banks in the second quarter aided rally in bank stocks. India's largest bank by net profit and branch network State Bank of India rose 4% extending Tuesday's gain. Chairman O.P. Bhatt on 8 September 2009 said the bank's earnings are likely to grow 30-35% in Q2 September 2009 over Q2 September 2008. SBI's retail loan growth is likely to be twice of what it was in the year-ago quarter, he said.

Among other PSU banks, Union Bank of India, Punjab National Bank, Bank of Baroda, rose by between 0.55% to 3.33%.

India's second largest private sector bank by net profit HDFC Bank rose 0.1% as its ADR rose 1.56% on Tuesday. India's largest private sector bank by net profit ICICI Bank rose 3% as its ADR rose 2.3% on Tuesday. The bank's managing director Chanda Kochhar said on 8 September 2009 credit growth in India is likely to pick up in the second half of this year.

Cement stocks rose on bargain hunting after recent losses triggered by reports cement makers have cut prices by Rs 3 per 50 kilogram bag in Mumbai. ACC, Grasim Industries, Ultratech Cement, Ambuja Cements rose by between 1.11% to 3.58%.

Realty stocks rose as demand for residential projects in major cities is picking up on lower home loan rates, property price cuts by developers and a recovery in the job market. Realty market had slumped last year amid a global credit crunch and buyers fearing job losses.

DLF, Indiabulls Real Estate and Unitech rose by between 0.9% to 2.07%.

Telecom stocks rose. India's largest telecom player by sales Bharti Airtel rose 0.95%. On Tuesday, South Africa's communications regulator had said it might not grant approval for the proposed alliance between Bharti and MTN this year. Bharti and South African telecom operator MTN have been in negotiations since 25 May 2009 on a $23 billion cash and share-swap deal aimed at an eventual full merger. The deadline for the talks has been extended twice, most recently the deadline was put back another month to 30 September 2009.

India's second largest telecom player by sales Reliance Communications rose 2.51% on reports the company has initiated talks with its overseas lenders to revise the terms of the $1 billion unsecured external commercial borrowings, or ECBs, which the company raised in 2007.

The government plans to hold a much-awaited auction on 7 December 2009 to sell airwave spectrum bands to the country's mobile operators for use in third-generation wireless services, the Department of Telecommunications said on Monday.

The auction for 3G spectrum will allow operators a chance to offer mobile-phone access to high-speed Internet, video downloads and other 3G services in the world's second-largest wireless market by subscribers. The move is also expected to earn the government billions of dollars in revenue in a year when it is expected to borrow a record amount to bridge its fiscal deficit.

The government said it will issue a notice inviting applications from interested bidders on 26 October 2009, with the final date for receiving the applications set for 13 November 2009.

India's largest engineering & construction firm by sales Larsen & Toubro was flat at Rs 1629.95, underperforming the market, despite higher advance tax payment.

Among other capital goods stocks, BEML, Praj Industries, Siemens, Thermax, ABB rose by between 1.88% to 5.07%.

India's largest electric equipment maker by sales Bharat Heavy Electricals rose 0.45%. As per recent reports the company has won an order worth Rs 1300 crore for an upcoming Vallur Thermal Power project at Ennore in Tamil Nadu. The power project is being set up by a joint venture between NTPC and the Tamil Nadu Electricity Board (TNEB).

IT stocks fell as the rupee rose to its highest in more than a month against the dollar on Wednesday. Rupee surged as gains in domestic shares boosted capital inflow hopes while the dollar's weakness against major currencies also underpinned sentiment. A firm rupee negatively impacts the operating margins of IT firms as the sector derives a lion's shares of revenue from exports.

India's largest software services exporter by sales Tata Consultancy Services fell 0.11% despite a jump in advance tax in second installment. TCS's Chief Executive S. Ramadorai on 7 September 2009 said TCS is seeing stability on the ground and the company's demand pipeline is good.

India's third largest software services exporter by sales Wipro fell 0.73%. The company won a three-year outsourcing contract from All Nippon Airways, Japan's No.2 carrier. Its ADR rose 0.3% on Tuesday.

But, India's second largest software services exporter by sales Infosys rose 2.1% as its ADR rose 1.49% on Tuesday. Infosys still finds the business situation quite challenging and decision making by clients continues to be slow, Chief Operating officer S.D. Shibulal said on Tuesday. He also said last month' s outsourcing contract from oil and gas major British Petroleum Plc was worth $116 million over five years.

Some FMCG pivotals rose on revival in India's annual monsoon in the past few weeks. FMCG firms derive substantial revenue from the rural sector. Marico, Dabur India, ITC rose by between 0.85% to 2.9%.

Finance Minister Pranab Mukherjee said on Monday, 14 September 2009, said late monsoon rains have eased drought conditions in India. The South West monsoon delivered the season's heaviest rain in the week to 9 September 2009, boosting reservoirs and prospects of winter crops. But the monsoon is still a fifth below normal this year.

PSU OMCs fell after crude oil prices surged more than 3% on the New York Mercantile Exchange, on Tuesday, 15 September 2009. State-run oil marketing firms suffer revenue loss on domestic sale of petrol, diesel, LPG and kerosene at a controlled price. BPCL and HPCL fell by between 1.06% to 1.09%.

But Indian Oil Corporation (IOC) rose 0.73%. The company's board approved a liberal 1:1 bonus issue on Monday, 14 September 2009.

The government on Tuesday issued bonds worth over Rs 10,306 crore to three oil marketing PSUs to compensate them for the losses incurred on account of selling petroleum products below market price. While bonds worth Rs 6,207.06 were issued to IOC, Rs 2,033.99 crore worth bonds were given to HPCL and Rs 2,065.28 crore worth of bonds were given to BPCL.

Hotel stocks rose after the Union tourism ministry permitted hospitality firms to raise external commercial borrowings up to $100 million during the current financial year. EIH, Indian Hotels, Hotel Leela Ventures rose by between 9.57% to 10.28%.

Meanwhile, the Reserve Bank of India has removed hotels from the 'commercial real estate' classification. This two-pronged push will make larger credit available to the capital-intensive and credit starved hospitality industry at lower rates of interest, thus bringing down the high cost of the hotel projects.

Sugar stocks rose on bargain hunting after recent losses. Bajaj Hindustan, Shree Renuka Sugars and Balrampur Chini rose by between 2.59% to 5.3%.

Indian spot sugar prices fell for the eighth straight day on Tuesday, on restrictions imposed by the government on millers and consumers in an attempt to soften prices

NHPC clocked a highest turnover of 4.2 crore shares on BSE. Cals Refineries (3.7 crore shares), Ispat Industries (2.03 crore shares), SpiceJet (1.98 crore shares) and IFCI (1.64 crore shares) were the other volume toppers in that order.

Tata Steel clocked the highest turnover of Rs 324.83 crore on BSE. NHPC (Rs 152.02 crore), Tata Motors (Rs 150.11 crore), Aban Offshore (Rs 149.67 crore) and Orchid Chemicals (Rs 147.38 crore) were the other turnover toppers in that order.

SGX Nifty propels ahead

4,957.0 +60.0

IPO Grey Market Premium - ThinkSoft Global, Oil India, Pipavav Shipyard

Company Name	Offer Price (Rs.)	Premium (Rs.)	Kostak (Rs. 1 Lac Application)
Jindal Cotex	75	4 to 4.50	--
Globus Spirits Ltd.	100	4 to 5	--
Oil India	1050	32 to 35	--
Pipavav Shipyard	55 to 60	3 to 3.50	1400 to 1500
Thinksoft Global	120 to 130	6 to 7	--
Euro Multi Vision	70 to 75	4 to 4.50	--

Pre Session Commentary - Sep 16 2009

Today domestic markets are likely to open positive as majority of Asian markets have also opened positive. The US markets closed higher on the back of phenomenal greater than expected August Producer Price Index which increased by 1.7% month over month. The sentiments are positive across the globe and therefore one could witness some early buying momentum across broader level. Today the domestic markets are likely to trade positive.

On Tuesday, Indian market surged during the session to close sharply higher on significant buying support led by reports of higher advance tax payment by some top Indian firms. Meanwhile, global cues are mixed today and US index futures are skipping up and down. Further, stocks raised also on a survey showing an improvement in business confidence in India. The National Council of Applied Economic Research (NCAER) said on 14 September 2009 that NCAER''''s business confidence index jumped to 118.6 points in the June 2009 quarter, which is 37 points up from previous quarter, when it was at its the lowest level since February 1998. The BSE Sensex ended above16,450 level and NSE Nifty closed around 4,900 mark.

The BSE Sensex closed higher by 240.26 points or (1.48%) at 16,456.45 and NSE Nifty ended up by 83.50 points or (1.74%) at 4,892.10. BSE Mid Caps and Small Caps closed with gains of 108.69 and 95.02 points at 6,039.07 and 7,228.68 respectively. The BSE Sensex touched intraday high of 16,477.23 and intraday low of 16,255.42.

On Tuesday, US markets closed higher. Stocks marked their seventh straight session gain as buyers were keen on buying materials and commodities stocks. The major indices were marching in the northward direction on the back of the August Producer Price Index, which came in with a greater-than-expected 1.7% month-over-month increase, and a stronger-than-expected 0.2% month-over-month increase in core prices. Phenomenal gains among commodities helped the CRB Commodity Index climb 2.2%. The move was also supported by 3.0% gain in crude oil prices. Crude oil futures for the month of October delivery gained by 3.0% at $70.93 barrel on New York Mercantile Exchange.
The Dow Jones Industrial Average (DJIA) closed higher by 56.61 points at 9,683.41. NASDAQ index gained by 10.86 points at 2,102.64 and the S&P 500 (SPX) also inclined by 3.29 points to close at 1,052.63 points.
Indian ADRs ended in green on Tuesday. In the IT space, Infosys was up 1.49%, Wipro was up 0.3%, Patni Computers was up 3.51% while Satyam Computers ended flat. In the banking space, ICICI Bank was up 2.3% and HDFC Bank was up 1.56%. In the telecom space, Tata Communication was up 1.53%, while MTNL was down 1.33%. In other sectors, Sterlite Industries was up 3.34%, Dr Reddy''s Labs was up 1.38% and Tata Motors was up 0.16%.

Today the major stock markets in Asia are trading positive. Hang Seng index is trading up by 334.18 points at 21,20.55. Japan''s Nikkei inclined by 139.46 points at 10,357.08 Singapore''s Straits is up by 35 points at 2,673.40 and Taiwan Weighted is also trading high by 83.33 points at 7,429.59.

The FIIs on Tuesday stood as net buyers in equity and net sellers in debt. Gross equity purchased stood at Rs 1,863.10 Crore and gross debt purchased stood at Rs 296.10 Crore, while the gross equity sold stood at Rs 1,601.00 Crore and gross debt sold stood at Rs 308.40 Crore. Therefore, the net investment of equity and debt reported were Rs 262.10 Crore and Rs (12.30) Crore respectively.

On Tuesday, Indian Rupee closed at 48.64./66 per dollar, 0.2% stronger than its previous close at 48.73./74. The stronger local stock markets helped local currency to gain strength against the green back..

On BSE, total number of shares traded were 41.07 Crore and total turnover stood at Rs 5,125.14 Crore. On NSE, total number of shares traded were 83.65 Crore and total turnover was Rs 16,437.15 Crore.

On NSE Future and Options, total number of contracts traded in index futures was 592450 with a total turnover of Rs 13,830.30 Crore. Along with this total number of contracts traded in stock futures were 616504 with a total turnover of Rs 20,573.87 crore. Total numbers of contracts for index options were 1320294 with a total turnover of Rs 31,895.56 Crore and total numbers of contracts for stock options were 60612 and notional turnover was Rs 2,094.69 Crore.

Today, Nifty would have a support at 4,915 and resistance at 4,943 and BSE Sensex has support at 16,498 and resistance at 16,612

Shares of firms paying higher advance tax may see action

Advance tax collections for the second quarter of the current financial year (2009-10) have reportedly shown robust growth of 35% to 40% across industries, reinforcing the government's hopes of a sooner-than-expected recovery.

According to reports, State Bank of India have paid 22.53% higher advanced tax to Rs 1838 crore in Q2 September 2009 over Q2 September 2008. Reliance Industries (up 69.40% to Rs 1157 crore), HDFC Bank (up 34.92% to Rs 425 crore), Larsen & Toubro (up 40% to Rs 210 crore), Tata Motors (up 116.67% to Rs 130 crore), Mahindra & Mahindra (up 540% to Rs 112 crore), Tata Power (up 435.71% to Rs 75 crore). However, India's largest private sector bank by market capitalisation ICICI Bank have paid 12.87% lesser advance tax to Rs 501 crore in Q2 September 2009 over Q2 September 2008.

LIC Housing Finance is reportedly raising up to $136 million through a share sale to institutional investors at a discount of 1.9% to 3.4% to its Tuesday closing price of Rs 673. The company is selling 1 crore shares in a qualified institutional placement (QIP) offering at Rs 650 to Rs 660 each in a deal handled by Citigroup, Enam Securities, Kotak Securities, and Nomura.

Reliance Communications has reportedly initiated talks with its overseas lenders to revise the terms of the $1 billion unsecured external commercial borrowings raised in 2007.

Tata Motors is reportedly planning to sell about 10-15% in subsidiary Tata Motors Finance to raise funds to reduce debt.

Foreign lenders, upset over Wockhardt's corporate debt restructuring package, have reportedly threatened to block the pharma company's $130 million deal to sell its nutrition business to US-based Abbott Laboratories.

Asian Paints has reportedly started selling its near-10% stake in rival ICI India and has reduced it to 7.49%, citing favourable market conditions. Asian Paints had acquired ICI India shares in 2003, following disinvestment by the federal government.

Triveni Retail Ventures, the retail arm of Triveni Engineering & Industries, is reportedly closing down all its stores after it failed to find a buyer.

Securities & Exchange Board of India is reportedly expected to give 14 days to both Bharati Shipyardand ABG Shipyard, which are locked in a fierce takeover battle for Great Offshore, for their final price quotes.

Elder Pharmaceuticals is reported to be in talks with US-based private equity firm, TA Associates, to dilute a minority stake as part of its fund raising plans.

News Roundup - Sep 16 2009

Finance Minister indicated India’s support for the proposed alliance between Bharti Airtel and MTN. (ET)

NTPC is exploring opportunities for acquisition of coal blocks or coal mines in South Africa, Indonesia, Mozambique and Australia. (FE)

Tata Motors may sell 10-15% in its subsidiary Tata Motors Finance to raise funds for reducing debt. (ET)

IOC sheds EoU status for the forthcoming refining project in Paradip, Orissa, as local demand for petroleum is more than global demand. (ET)

IOC, BPCL and HPCL picked up governments 10% stake in Oil India for ~Rs22bn. (ET)

A consortium led by ONGC Videsh has dropped its plans to produce oil from the Farsi block in Iran due to high sulphur content in the crude. (ET)

Biocon takes drug regulator, NPPA, to court challenging NPPA’s decision to fix and monitor prices of its diabetes product, Basalog. (FE)

Mahindra Satyam has added 32 new clients and is seeking an end to the eight year ban imposed by World Bank. (FE)

Glenmark Pharmaceuticals rasied Rs4.1bn via issue of shares to institutional buyers on a private placement basis. (FE)

HCL Infosystems plans to raise Rs8.2bn via QIP. (FE)

Nalco is in talks with NPCIL to jointly set up a Rs120bn nuclear power plant in Orissa. (BS)

Pipavav Shipyard raised Rs920mn by private placement of shares to six anchor investors. (BS)

Reliance Communication and Atom Technologies, Financial Technologies arm, may ink deal for mobile commerce. (BS)

SAT has set aside SEBI’s ruling of Tata Tea paying non-compete fees to all shareholders of Mount Everest Mineral Water. (BS)

Wipro has signed a pact with Schneider Electric for industrial automation. (FE)

Dr Reddy’s Laboratories is embroiled in a fresh patent infringement row with US based drug-discovery firm Albany Molecular Research. (ET)

Idea awarded US$50mn seven year outsourcing contract to IBM for providing technology. (ET)

Foreign lenders have threatened to block the US$130mn deal to sell Wockhardt’s nutrition business to US based Abbott as they are upset with the formers corporate debt restructuring package. (ET)

Elder Pharmaceuticals is in preliminary talks with US based PE firm T A Associates to sell upto 20% stake. (FE)

Asian Paints has started selling its 10% stake in ICI. (ET)

Essar Power has tied up Rs36bn for its forthcoming 1,200MW coal based power project at Salaya in Gujarat. (ET)

Reliance Industries has fixed September 29 as the record date for the proposed merger of Reliance Petroleum with itself. (ET)

Reliance Communications, Reliance Capital and Reliance Infrastructure have released 149mn pledged shares. (ET)

TCS stops variable pay for fresher recruits for the first six months. (ET)

Indian Energy Exchange on the first day of the launch of the term-ahead contracts transacted 3,800MWh. (FE)

Tata Metaliks has put on hold its proposed integrated steel project in Karnataka owing to losses it incurred in FY09. (FE)

Apollo Tyres has tied up with Mitsubishi to supply tyres as an original equipment partner. (FE)

Norwegian telecom major, Telenor, said that its Indian arm - Unitech Wireless - will suffer losses of Rs155bn in the first five years of operation. (ET)

Unitech Wireless raised Rs50bn from SBI to finance the roll out of its network. (BS)

Mumbai SEZ has sought extension for the third time for the validity of its in-principal approval granted in 2006. (ET)

Datacom Solutions, a new telecom licensee, has awarded US$400mn tower sharing contract to Aircel Cellular. (BS)

Consumer durable firms revive interest free finance plans for the festival season. (ET)

Air India cuts fares by 20-46% on select domestic routes for three days. (ET)

Corporate tax figures for July-September quarter show improved margins for several companies. (ET)

NASSCOM has projected that ~30,000-40,000 students will get absorbed by IT companies this year. (ET)

RBI governor said the central bank will not raise rates till the economy is back on high growth track. (ET)

Government will form an empowered group of ministers to fast track highway development projects. (ET)

Government issued Rs103bn oil bonds to three state run marketing companies. (ET)

Shipping ministry will sign 20-25 public private partnership agreements this year to boost port infrastructure. (ET)
Government said it would come up with a road map by November to help companies adopt International Financial Reporting Standards which will become operational by 2011. (FE)

Advancing to double delight!

Winners make a habit of manufacturing their own positive expectations in advance of the event.

Good morning. The Sensex has doubled in the shortest period in two decades. India Inc. seems to be in the pink of health, if the advance tax numbers are any indication. Fed chairman Ben Bernanke says the recession in the US is "very likely" over. Dollar remains weak amid a persistent bias towards risky assets. Commodities too are flaring up. To top it all, Warren Buffett says he is buying equities.

Banks led from the front as far as advance tax numbers and stock gains are concerned. There is also talk of the RBI raising the cap on securities held under the HTM category to help banks avoid MTM losses. RBI chief D. Subbarao says he will maintain the expansionary monetary policy till the recovery is "secured".

Expect another higher start, bolstered by firm global cues and potentially benign local economic conditions. As long as the FIIs keep the money taps open, the bulls can dance a little longer.

The biggest challenge for the RBI now is to plan an exit strategy. Similar concerns may be giving sleepless nights to central bankers around the globe. Hopefully, the G20 Summit will throw some light on this crucial matter.

US stocks ended at their highest level of the year on Tuesday after a stronger-than-expected retail sales report and comments from Federal Reserve chairman Ben Bernanke helped bolster optimism that the worst is behind us.

The Dow Jones Industrial Average gained 57 points, or 0.6%, at 9,683.41, ending at its highest point since last Oct. 6. The S&P 500 index rose 3 points, or 0.3%, at 1,052.63, ending at its highest point since Oct. 6. The Nasdaq Composite index climbed 11 points, or 0.5%, at 2,102.64, closing at its highest point since Sept. 26.

US stocks were choppy early in the morning but managed some gains in the afternoon on the back of encouraging remarks about the economy by Bernanke.

Stocks plummeted in the six months after the collapse of Lehman Brothers, culminating in the S&P 500 and Dow bottoming out at 12-year lows and the Nasdaq hitting a more than six-year low on March 9. Since March, the Dow has gained 47%, the S&P 500 gained 55% and the Nasdaq composite has gained 65%.

Year-over-year, the major US indexes are still down, with the Dow and S&P 500 roughly where they stood in early October of last year and the Nasdaq where it stood about a week earlier, in late September.

Financial, industrial and select commodity stocks led the advance on Tuesday. Other than a little selling in the first few days of September, US stocks have been extending the 2009 run.

The feeling of being left out among some of the investors sitting on the sidelines could continue to support the advance on every dip and is likely to keep doing so in the weeks ahead.

Speaking at the Brookings Institution in Washington, Bernanke said that the recession is "very likely over," but that the pace of the recovery will be moderate next year and that it will still feel like a weak economy for some time.

August retail sales rose 2.7%, the Commerce Department reported, reflecting the impact of the government's Cash for Clunkers auto stimulus program. Even without auto sales, the retail numbers were strong, suggesting consumer sentiment is improving. The rise surprised economists who were looking for an advance of 1.9%.

The Producer Price Index (PPI), a measure of wholesale inflation, rose 1.7% in August after falling 0.9% in July. Economists thought it would rise 0.8%. The so-called Core PPI, which strips out volatile food and energy prices, rose 0.2% after falling 0.1% in July. Economists thought it would rise 0.1%.

The Empire State index, a regional read on manufacturing, rose to 18.8 in September, topping forecasts for a rise to 15. The index stood at 12 in August.

July business inventories fell 1% after falling 1.1% previously. Economists thought it would fall 0.9%.

Citigroup wants US Treasury to sell off part of its roughly 34% stake in the financial firm, according to published reports. Citi is also looking to issue new shares to the public as part of a multibillion-dollar stock offering. Since the collapse of Lehman Bros. last year, the government has poured $45 billion into Citi and agreed to share losses on a big piece of the bank's bad assets. Citi shares fell 9%.

Best Buy reported weaker quarterly earnings that missed analysts' forecasts on higher revenue. The company also said that sales at stores open a year or more fell 3.9% in the fiscal second quarter.

The company's forecast was mixed. Best Buy lifted its fiscal 2010 earnings outlook to a range of $2.70 to $3 per share, but that means the midpoint of $2.75 is short of analysts' current forecast for earnings of $2.76 per share.

The electronics retailer also said it expects total revenue of $48 billion to $49 billion, versus analysts' forecasts for $47.8 billion. Best Buy shares fell 5%.

The dollar fell versus other major currencies, resuming its decline against the yen and euro. The falling greenback boosted dollar-traded commodities.

US light crude oil for October delivery rose $2.07 to settle at $70.93 a barrel on the New York Mercantile Exchange.

COMEX gold for December delivery rose $5.20 to settle at $1006.30 an ounce.

Treasury prices fell, raising the yield on the benchmark 10-year note to 3.45% from 3.42% late on Monday.

The Consumer Price index, a measure of consumer inflation, is due on Wednesday morning. August capacity utilization and industrial production are also due in the morning, along with the weekly oil inventory report.

European shares continued their advance as better-than-expected US retail sales fuelled hopes of a sustainable recovery in the global economy. The pan-European Dow Jones Stoxx 600 index added 0.2% to 241.36 in a choppy session.

After making small gains early in the session, stocks were pulled lower after a gauge of sentiment among German finance professionals rose in September, but at a slower pace than forecast. However, gains resumed in the afternoon following data that showed U.S. retail sales.

Germany's DAX index rose 0.2% to 5,628.98, while the French CAC-40 index gained 0.6% to 3,752.21 and the UK's FTSE 100 index advanced 0.5% to 5,042.13.

The NSE Nifty index got a new fillip in its run to the 5000 mark as impressive advance tax numbers by India Inc lifted the sentiment all over. After taking a breather in the previous trading session, the Indian markets were back on track outperforming majority of the international equity markets on Tuesday.

The Realty, Metal and banking stocks led from the front, even the Mid-Cap and the Small-cap stocks participated in the upswing.

The banking stocks hogged the limelight on the back of strong advance tax collections for the Q2 of the financial year.

Public sector major, SBI paid a remarkable Rs18.32bn in the Q2 of 2009-10 as against Rs10.68bn in the corresponding period last year.

Other public sector banks like Bank of India paid Rs4.7bn as compared to Rs2.3bn translating in to increase of 104%, Bank of Baroda paid Rs4.12bn compared to Rs2.55bn and Central Bank of India paid Rs730mn.

On the other hand, Private sector banks like Yes Bank paid Rs580mn as against Rs330mn in the corresponding period last year a rise of 75%.

The BSE Sensex gained 240 points or 1.5% at 16,454 after touching a high of 16,477 and a low of 16,255. The index opened at 16,255 against the previous close of 16,214. The NSE Nifty gained 84 points to shut shop at 4,892.

In Asia, the Nikkei in Japan ended flat at 10,217 while Australia's S&P/ASX ended higher by 0.2% at 4,540. The Hang Seng index was flat at 20,866. However, Shanghai SE Composite in China gained by 0.2% at 3,033.

In Europe, stocks were mixed. The FTSE in the UK was flat, The DAX in Germany was up 0.2% and the CAC 40 index in France was flat.

Coming back to India, among the BSE sectoral indices, the Realty index was the top gainer, gaining 4%, followed by the Metal index that was up 3.7%. The BSE Bankex index up 2.6% and the BSE Auto index was up 2.3%.

The BSE Mid-Cap index gained 2% and the BSE Small-Cap index added 1.3%.

Among the 30-components of Sensex, 27 stocks ended in the positive terrain and ONGC, Bharti and Hindustan Unilever ended in the red. Among the major gainers were DLF, Hero Honda, Sterlite, Hindalco, JP Associates and RCom.

Outside the frontline indices, the big gainers in the broader market were Indian Bank, Areva, Bank of India, Cummins India and IDBI Bank. On the other hand, losers included Spice Tele, MMTC, Fortis Health and Bosch.

Shares of Jindal Steel & Power surged by over 7% to end at Rs619. The stock opened at Rs585 and made an intra-day high of Rs630 and a low of Rs580. Total traded volumes stood at 3.06mn shares.

Jindal Power Ltd, part of Jindal Steel and Power Ltd, is planning to raise about Rs40bn from the primary market to partly fund its 2,400 Mw superthermal power project in Chhattisgarh, according to a report. The company already has a 1,000-Mw pithead merchant power plant in Chhattisgarh, report stated.

The company will invest Rs134bn for the new project coming up at Raigarh. It is talking with a slew of banks to raise Rs100bn as debt for the project, report added.

Shares of Natco Pharma were locked at 20% upper circuit at Rs123 after the company said that the U.S. FDA has accepted an abbreviated new drug application filed by its partner Mylan Inc.

Glatiramer Acetate Injection, a generic version of Teva Pharmaceutical Industries Ltd.’s Copaxone treatment for multiple sclerosis, was accepted for review by U.S. regulators.

Shares of GAIL ended higher by 2% to Rs361 after the company announced that it has signed a MoU along with Kerala State Industrial Development Corporation Limited for Natural Gas Infrastructure and City Gas Distribution in Thiruvananthpuram.

The stock opened at Rs354 and made an intra-day high of Rs363 and a low of Rs352. Total traded volumes stood at 0.75mn shares.

Shares of Alstom Projects gained by 2.5% to Rs522 after the company signed a contract worth EUR30mn with Companhia de Geracao Termica de Energia Eletrica for the retrofit of units 3 and 4 of the Presidente Medici III coal fired power plant near Candiota city, Brazil.

Alstom's scope of contract involves the design, manufacture, dismantlement and erection of upgraded components at the boilers of the two 160 MW units. The plant modifications will be implemented in the first half of 2011.

Toyota Group acquired 1.5% stake for an amount of Rs190mn in Tube Investments of India from the open market on Monday. Toyota Tsusho Corp, Japan bought ~2.7mn shares at an average price of Rs70.77/share. While, Elara Capital PLC (DR) sold ~2.6mn shares in the market at Rs70.8/share.

Tube Investments MD L Ramkumar said, "We believe it was taken in the market as a portfolio investment. We are trying to confirm it. Our assumption is that both of us are in the auto segment, so they must have taken it. We are supplying to Toyota’s vendors in India and to their dealers overseas."

Shares of Tube Investments gained by 2% to end at Rs66. The stock opened at Rs65.85 and made an intra-day high of Rs67.20 and a low of Rs64.25. Total traded volumes stood at 0.33mn shares.