Nifty settles above 6,300 mark; HUL surges

Indian markets made a smart recovery at close helped by good response to Power Grid FPO. It once again managed to to close above 6,300 recording a modest gain. FMCG, Realty and IT sector were in the limelight, while Oil & Gas and PSU indices were the sole losers.



The Sensex witnessed a choppy session today due to profit taking seen in index pivotals. Later, it bounced back in green to finally close in green after touching a high of 20,984.08 and low of 20,762.81.

Meanwhile, the follow-on public offer (FPO) of India`s biggest inter-state transmission company Power Grid Corp has opened for subscription today. The issue was subscribed 1.03 times. A price band for 84,17,68,246 equity shares FPO is set at Rs 85-90/share.

The issue comprises a fresh issue of 42,08,84,123 shares and an offer for sale of 42,08,84,123 shares by the President of India acting through the Ministry of Power, Government of India, which is 20% offer in total. The issue will open for subscription today and close on November 11 for qualified institutional buyers and November 12 for non-institutional and retail investors.

On global front, European stocks opened in red as concern mounted that some of Europe`s governments may struggle to trim their debts. U.S. stock-index futures declined.

Asian stocks end mixed as commodity- related companies declined on concern gains were overdone while Sino Land Co. tumbled after it said it will sell shares.

At the close, the benchmark 30-share index, BSE Sensex added 80.10 points or 0.38% at 20,932.48 with 20 components registering rise. Meanwhile, the broad based NSE Nifty climbed by 28.35 points or 0.45% at 6,301.55 with 35 components posting rise.

Sensex Movers

H D F C Bank contributed rise of 27.26 points in the Sensex. It was followed by I C I C I Bank (20.51 points), Tata Consultancy Services (18.09 points), Hindustan Unilever (18.01 points) and Infosys Technologies (17.98 points).

However, State Bank Of India contributed fall of 55.87 points in the Sensex. It was followed by Reliance Industries (10.36 points), Oil & Natural Gas Corporation (6.28 points), Housing Development Finance Corporation (4.97 points) and Maruti Suzuki India (3.33 points).

Major gainers in the 30-share index were Hindustan Unilever (4.30%), H D F C Bank (2.42%), Tata Consultancy Services (2.25%), Sterlite Industries (India) (2.04%), Bharti Airtel (1.74%), and I T C (1.34%).

On the other hand, State Bank Of India (4.40%), Maruti Suzuki India (1.20%), Reliance Energy (1.03%), Oil & Natural Gas Corporation (0.84%), Tata Power Company (0.44%), and Reliance Industries (0.41%) were the biggest losers in the Sensex.

Mid & Small-cap Space

The Midcap and Smallcap index rose 0.38% and 0.85% respectively.

Sectors in Limelight

The FMCG index was at 3,793.28, up by 93.36 points or by 2.52%. The major gainers were Colgate-Palmolive (India) (8%), Hindustan Unilever (4.3%), Dabur India (3.18%), I T C (1.34%) and Mcleod Russel India (0.78%).

The Realty index was at 3,812.36, up by 55.69 points or by 1.48%. The major gainers were Indiabulls Real Estate (6.08%), Peninsula Land (4.5%), D L F (1.23%), Ackruti City (0.88%) and Housing Development and Infrastructure (0.63%).

The TECk index was at 3,793.66, up by 41.48 points or by 1.11%. The major gainers were Bharti Airtel (1.74%), Idea Cellular (1.46%), Dish TV India (0.67%), Mphasis (0.19%) and G T L Infrastructure (0.11%).

On the other hand, the IPO index was at 2,183.63, down by 9.33 points or by 0.43%. The major losers were BS TransComm (9.99%), Bedmutha Industries (4.98%), Bajaj Corp (1.85%), Coal India (1.33%) and ARSS Infrastructure Projects (0.99%).

Market Breadth

Market breadth was positive with 1,759 advances against 1,251 declines.

Value and Volume Toppers

State Bank Of India topped the value chart on the BSE with a turnover of Rs. 2,723.52 million. It was followed by Coal India (Rs. 2,043.39 million), Jet Airways (India) (Rs. 1,410.51 million) and Neha International (Rs. 1,393.35 million).

The volume chart was led by FCS Software Solutions with trades of over 25.91 million shares. It was followed by Cals Refineries (15.02 million), Assam Company India (14.74 million) and Alok Industries (11.95 million).