D- street looks for triggers

Today's major news

Zee Entertainment’s Q4FY2010 net up at Rs107.51 crore; the stock surges 2.49%

HCL Technologies’ Q3 net profit up at $76.6 million; the stock jumps 8.32%

Car loans rise 18% in FY2010

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Global signals

With banking scrips down, European equities erased their morning gains to turn negative. As of writing of this report, FTSE 100 (London) was quoting 0.71% lower.

All the major Asian indices baring Hang Seng (Hong Kong) and Straits Times (Singapore) closed higher. SGX Nifty closed 5 points up.

US stock futures point a flat start for the Wall Street on Wednesday. Earnings of Morgan Stanley will be in focus.

Indian indices

The domestic market managed to close higher for the second day in succession on buying in realty and banking bourses in wake of favourable monetary policy review yesterday.

Leveraging on realty and banking scrips—the sectors that found favour in credit policy review yesterday— bulls took the Sensex 100+ points higher from a slightly negative opening today. But, the going got tough on soft opening in European equities with bears pulling the Sensex 15 points lower than its yesterday’s closing. In a consolatory win, Sensex ended 12 points higher at 17472 and Nifty signed off the day at 5245, 15 points up.

Market sentiment

Advancing scrips outdid declining shares by around 2:1. Of the 2,985 stocks traded on the BSE, 1,915 stocks advanced, whereas 965 stocks declined. Hundred and five stocks closed unchanged.

Sectoral & stock screening

Of the 13 sector indices on the BSE, only capital goods (CG), oil and gas, and metal did not find favour and were down 0.57%, 0.41% and 0.04% respectively. BSE Realty surged the most by 1.68% followed by BSE Bankex that rose by 1.25% for the day.

The picks of the day were HCL Technologies (up 8.32%), Godrej Industries (higher 5.80%) and Yes Bank (5.45% up). The losers include Cadila Healthcare (down 3.65%), Sun Pharmaceutical Industries ( lower 2.87%) and Lupin (1.81% down).

Viewing volumes

India’s second largest realty major Unitech was the most actively traded share with over 1.51 crore shares changing hands on the BSE, followed by steel maker Ispat Industries (0.47 crore shares), Industrial finance company IFCI (0.33 crore shares), healthcare chain Fortis Healthcare (0.32 crore shares) and wind turbine major Suzlon Energy (0.28 crore shares)