Mkts play volatile innings; Sensex closes trade with smart gains!

The Indian markets emerged from a gloomy session of the opening bell and shut shop with smart gains. The Sensex rose 80 points while the Nifty surged 23 points in trade today. Major Headlines of the Day: Reliance MediaWorks plans to raise fund June consumer inflation at 10.02% Y-o-Y Bajaj Auto Q1 FY13 results flash: Disappointed on margins Sanwaria Agro jumps after posting Q1 results Decision on reserved spectrum price deferred Indian Indices The Indian markets were on a roller-coaster ride on Wednesday with the benchmark indices swinging between the red and the green zone. Positive European cues helped the markets to shut shop in green today amidst highly volatile swings. The Sensex closed 80 points higher while the Nifty advanced 30 points. Movement of the Indian indices for the day:- Black clouds gathered on Dalal Street during the opening bell as the equities witnessed gloomy trading sessions. The markets opened the session on a flat note triggered by the mixed sentiments hovering around Asian markets. The key indices hit thier intraday low levels in the morning session. The turnaround happened post the firm European opening and markets reentered positive territory to close today's trade in the green zone. The key indices hit their intraday high in the late afternoon session and closed today's trade on a positive note oscillating on both sides of the equator. In the late afternoon trade, markets turned around completely and showed a smart recovery. The BSE Sensex and Nifty recouped most of its losses led by strong buying in sectors like Metal, CG, Realty, Auto, Power, Technology, Banking and PSU while Oil & Gas, HC, CD and FMCG added some pressure. Heavyweight supporters of the day were - ICICI Bank, L&T, Bajaj Auto, HDFC, HDFC Bank, TCS and Jindal Steel. The broader markets too ended with gains. The BSE Midcap index added 0.53%, while the BSE Smallcap index rose 0.29% at the closing bell. The overall market breadth stood positive. The Sensex ended at 17,185.01, up by 79.71 points while Nifty closed at 5216.30, up by 23.45 points. On the Macro economic front, India's retail inflation, based on the consumer price index fell marginally to 10.02% in June from 10.36% in May, the government data said today (July 18, 2012) Following are the stocks/ sectors which were in news today 1. Bajaj Auto Q1 net profit rose 1% to Rs718 crore on 4% increase in turnover to Rs5048 crore in Q1 June 2012 over Q1 June 2011. The stock rose 5.20% today. 2. Reliance MediaWorks rallied after the company said it has signed term-sheet agreement to raise Rs605 crore from a foreign Private Equity (PE) fund. After the markets hours, The stock gained 5.51%. 3. TCS rose on reports that the company received a multi-year contract from Scandinavian Airlines for an undisclosed amount. The stock closed 0.77% higher in trade today. 4. Shares of GTL Group companies, GTL Infrastructure and GTL rallied after the GTL Infrastructure said that the promoter group infused Rs931 crore into its subsidiary, Chennai Network Infrastructure (CNIL), as part of its corporate debt restructuring (CDR). The stock gained 6.91% in today's trade. From the currency point of view, Indian rupee fell quite sharply, depreciating by 32 paise to 55.43 against the US dollar. Market sentiment The market breadth stood in favor of advances. Of the 2930 stocks traded on the BSE, 1404 (47.92%) rose, 1374 (46.89%) fell and 152 (5.19%) stocks remained unchanged. Sectoral & stock screening Among the 13 sectoral indices four sectors closed in red zone while remaining nine sectors closed in green zone. Top Gainers: BSE Metal rose by 1.48%, BSE CG surged by 1.07%, BSE Realty gained by 0.93%. Top Losers: BSE Oil & Gas down by 0.22%, BSE HC fell by 0.22%, BSE CD down by 0.11%. Among 'A' group stocks, top three gainers were- Pantaloon Retail rose by 6.83%, Financial Tech up by 6.03% and Tata Comm surged by 5.56%. Top three losers were- Union Bank declined by 3.01%, PNB down by 2.79% and Indian Hotels fell by 2.42%. Global signals: Asian markets witnessed weak trade today. Hong Kong shares suffered their first loss in four days on Wednesday after data suggesting more stable home prices in China doused expectations of policy easing and spurred profit taking in the Chinese property sector. Japan's Nikkei share average also slipped today, failing to maintain early gains as falls in other Asian markets offset guarded economic optimism after some firm U.S. corporate earnings. European shares traded a touch higher early on Wednesday as investors welcomed a batch of strong earnings reports from European companies. On the other side, the euro eased after the testimony from U.S. Federal Reserve Chairman Ben Bernanke that offered little guidance on whether the central bank was moving closer to new stimulus measures. US stock index futures pointed towards a higher opening at the Wall Street on Wednesday after Coca-Cola and Goldman Sachs joined the growing roster of S&P companies that beat profit forecasts and as Federal Reserve Chairman Ben Bernanke left the door open to more stimulus. Market Outlook: Data to be released in the US on Wednesday: Housing Starts, EIA Petroleum Status Report and Beige Book.