Daily Market Review - Apr 23 2010

Benchmark indices closed in green for the fourth consecutive day as Sensex as well as Nifty gained two third of a percent today. Sensex closed at 17694, up 120 points while Nifty gained 34 points to finish at 5304. BSE mid-cap and Small-cap indices underperformed for the second day running, gaining 0.3% and 0.5% respectively. Tech major Wipro came out with Q4 results where Net profit rose 0.5% Q-o-Q to Rs. 1209 cr. while revues stood at Rs. 6883 cr. versus Rs. 6977.4 cr. in the quarter ending December. The company also announced bonus of 2 shares for every 3 shares held. Union Cabinet today approved infusion of Rs. 15000 cr. into the public sector banks in FY11, the details of which are likely to be finalized in about 15 days. On weekly basis Sensex and Nifty are up 0.6% and 0.8% respectively. BSE Bankex gained the most among the sectoral indices, up 4.9% followed by Auto index, up 2.4%. Metal and IT indices were the top losers, shedding 3.1% and 2.2% respectively over the week. European markets were trading higher by about three fourth of a percent while US stock indices futures were marginally in the green.

BSE Bankex and Capital Goods indices were the top gainers among the sectoral indices for the day, putting on 1.7% and 1.2% respectively while Metal and Consumer Durable indices lost 0.8% and 0.4% respectively. JP Associate and ICICI Bank were the top gainers among the Nifty stocks, up 4.3% and 3.7% respectively while ABB and Wipro lost the most, shedding 3.4% and 1.9% respectively. BSE advance-decline ratio stood at 1:1.1.