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Monday, January 21, 2013

Mkts post modest gains at close; RIL hogs limelight

Key indices ended in green led by better-than-expected results from Reliance Industries on Friday (January 18, 2013). The Sensex rose 63 points while the Nifty shut shop 18 points higher. Major Headlines: Reliance Industries beats street estimates HDFC Q3 consolidated net profit rises by 28% NTPC Q3 net profit surges by 22% SpiceJet reports turn around in Q3 nos Indian Indices: The Indian markets closed today's trading session in the green zone. Buying was seen in sectors like CG, Oil&Gas, FMCG, Power and TECk. The BSE Sensex was hovering near 20,100 while NSE Nifty traded near 6,080 throughout the day. The uptrend in the market was seen on index heavyweight RIL posting better-than-expected Q3 net profit which was up by 24% for the quarter ended December 31, 2012, its highest level since June 10, 2011. The NSE Nifty maintained 6,050 while the BSE Sensex comfortably surpassed the 20100 mark in trade today. At the closing bell, the BSE Midcap index fell by 0.14% and the BSE Smallcap index rose by 0.02%. Movement of the Indian indices for the day: The key indices kick started the first trading day of the week on a positive note as the sentiments were boosted with optimism coming post release of RIL numbers. This was company's first increase in profit after four quarters of declining returns, buoyed by stronger oil refining margins . However, the benchmark index pared gains in afternoon on the back of selling pressure in index heavyweights like Sun Pharma, Tata Motors, NTPC, TCS and Cipla. The strong opening of European markets also helped the domestic shares to trade in the green zone. The Sensex ended at 20101.82, up by 62.78 points, while the Nifty shut shop at 6082.30, up by 17.90 points. Following are the stocks/ sectors which were in news today: 1. Shares of Indian conglomerate Reliance Industries Ltd rose today, after posting a better-than-expected 24% jump in third-quarter net profit. After market hours, the stock closed 2.35% higher. 2. SpiceJet soared on robust Q3 earnings as company posted Q3 net profit at Rs102 crore against net loss of Rs39.26 crore in year ago quarter. After market hours, the stock closed 5.01% higher. 3. Tecpro Systems jumped after the company received an order worth Rs139.80 crore from The West Bengal Power Development Corporation. After market hours, the stock closed 2.50% higher. 4. Aurobindo Pharma rose after the company said it has received final approvals from USFDA to manufacture and market Oxacillin Injection in multiple vials in United States. After market hours, the stock closed 1.45% higher. Market sentiment: The market breadth stood in favor of declines. Of the 3021 stocks traded on the BSE, 1,370 (45.35%) rose, 1,514 (50.12%) fell and 137 (4.53%) stocks remained unchanged. Sectoral & stock screening Among the 13 sectoral indices, seven sectors closed in the red zone while remaining six sectors closed in the green zone. Top Gainers- BSE CG up by 1.49%, BSE Oil & Gas rose by 1.31%, BSE FMCG gained by 1.06%. Top Losers: BSE Realty down by 1.31%, BSE HC fell by 0.41% and BSE Auto slipped by 0.31% Among 'A' group stocks, top three gainers were- United Breweries which rose by 9.43%; Reliance Communication up by 6.91% and JSW Energy surged by 6.49%. Top three losers were- Opto Circuits declined by 8.53%, Oberoi Realty was down by 3.96% and TTK Prestige fell by 3.75%. Global signals: Asian shares ended lower on Monday, taking a breather after hitting multi-month highs, while the yen touched a new low ahead of the outcome of the Bank of Japan policy meeting this week amid expectations for bold monetary easing measures. European indices inched towards two-year highs and German Bund futures dipped on Monday, as a political attempt to break a budget impasse in the United States revived appetite for shares and dented appetite for safe-haven assets. US stock index futures poised for a mixed opening at the Wall Street on Monday.