Sensex ends dull session flat

Today's major news

Mahindra Satyam soars on winning case against Upaid; the stock closes 2.34% higher

Cox and Kings raises $65 million via global depository receipt; the stock ends 3.56% lower

India's July exports up 13.2% yoy



Global signals

European shares rose in early trades on Tuesday (August 17, 2010) as mining shares gained the most after metal prices surged and dollar got weaker.

Major Asian indices shut mixed. Indices like Shanghai Composite, Hang Seng and Kospi closed in the positive territory, while Straits Times and Nikkei closed in the red. Japan’s Nikkei index hit the eight-month closing low.

The US stock index futures pointed to a higher opening on the Wall Street. The investors may focus on Producer Price Index, Housing Starts and Permits, and Industrial Production and Capacity Utilisation data for the month of July. While, on the earnings’ front, the companies scheduled to report quarterly results include Wall-Mart Stores and Home Depot.

Indian indices

It was a flat closing for the Indian markets, which traded dull although steady for most part of the day. The markets ended marginally lower after recovering from the day's lows. The markets remained sideways all through the day. The broader market outperformed the frontline stocks and buying was seen in financial stocks while metals, IT and realty stocks looked weak.

SKS Microfinance, which listed yesterday (August 16, 2010), gained another 8% in today’s trade, while decline was led by index heavyweights like Reliance Industries, Larsen & Toubro, Hindustan Unilever and Oil & Natural Gas Corporation.

The Sensex started the day on a flat note at 18049, mere a point lower. The index soon turned positive hitting the day’s high of 18140 in its initial trades. The Sensex gradually started to pare its gains and slipped in to negative zone to hit the day’s low of 18026 in the late morning trades. However, from that level, the Sensex once again started to move northwards as the European markets opened on a positive note. In the late trades, the index slipped again to end the session marginally lower.

At the closing bell, the Sensex closed at 18049, mere two points lower. The Nifty shut mere four points down, at 5414.

Bond Market Wrap up: India’s 10-year bonds declined for a second day after the government said yesterday that it plans to raise as much as Rs120 billion ($2.6 billion) selling fixed-income securities on August 20, 2010. India’s rupee gained the most in more than two weeks after overseas investors raised holdings of the nation’s assets to record levels to benefit from an improving economy.

Market Outlook: Tonight, US will see Housing Starts, Industrial Production and the Producer Price Index data, which would decide the future course of market.

Market sentiment

The market breadth was negative as declining stocks outdid the advancing ones. Of the 3,086 scrips traded on the BSE, 1,513 scrips fell whereas 1,449 scrips gained. Hundred and twenty-four shares traded unchanged.

Sectoral & stock screening

Banking stocks witnessed buying interest in today’s trade, as sector index BSE Bankex surged the most by 0.95%, followed by BSE Realty and BSE PSU that rose by 0.23% and 0.22% respectively. On the flip side, BSE information technology (IT) lost by 0.33%, followed by BSE capital goods (CG) and BSE Power that declined by 0.29% and 0.26% respectively.

Among 'A' group stocks, the major gainers were - Syndicate Bank was the star stock of the day posting gains of 7.81%, followed by India Infoline that surged by 7.49% and Bank of Baroda that rose by 6.20%. Among losers, Hindustan Construction Company slid the most by 3.58%, followed by Mphasis that fell by 3.04% and Educomp Solutions that shed 2.89%.

Viewing volumes

Industrial finance company - IFCI was the most traded with over 0.82 crore shares changing hands on the BSE, followed by wind turbine major - Suzlon Energy (0.40 crore shares), public sector bank - UCO Bank (0.35 crore shares), public sector bank - IDBI Bank (0.35 crore shares) and India's largest producer and exporter of iron ore in the private sector - Sesa Goa (0.33 crore shares).