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Friday, August 13, 2010
Nifty closes above 5,450; SBI, DLF up
Indian markets continued to gain for the second day on Friday. The Sensex ended with moderate gains as realty, consumer durable and banking stocks rallied today. After opening flat with positive bias, the index traded in the range and further extended gains on heavy buying interest seen across board, touching a high of 18,260.39. Later, in the second half, it shed some gains to finally close in the green.
Sensex shuts firm as global markets rebound
Today's major news
Reliance Communications Q1 consolidated net profit dips 85% yoy; the stock ends 2.94% lower
Tata Steel shines on strong Q1 results; the stock closes 1.39% up
Jet Airways flies high on strong July traffic; the stock ends 11.27% higher
Sensex bucks the trend, outperforms its peers
Major news for the week:
June index of industrial production at 7.1%
Food inflation rises to 11.4%
State Bank of India hits 52-week high on robust Q1 results
Tata Motors hits an all-time high on robust Q1 numbers
Reserve Bank of India unveils discussion paper on new bank licenses
RIL, Tata Motors August 2010 futures at premium
Turnover declines
Nifty August 2010 futures were at 5,458.35, at a premium of 6.25 points, compared to spot closing of 5,452.10. Turnover in NSE's futures & options (F&O) segment was Rs 94,861.02 crore, lower than Rs 1,04,776.77 crore on Thursday, 12 August 2010.
Derivatives: Horizontal move with marginal upward bias expected
Market may continue its horizontal move with some positive bias, but progress of South West Monsoons, global market mood will guide the market either way
BSE Mid-Cap, Small-Cap indices outshine Sensex
Key benchmark indices eked out marginal gains in the week ended Friday, 13 August 2010 as select pivotals surged after reporting upbeat earnings. Sustained buying by foreign funds supported the market, as the barometer index BSE Sensex logged gains in three out of the five trading days of the week.
Market registers modest gains; SBI scales record high
The key benchmark indices registered modest gains even as profit taking ahead of the weekend pulled the market off the intraday high. The BSE 30-share Sensex jumped 93.13 points or 0.52%, off close to 90 points from the day's high and up close to 120 points from the day's low. Index heavyweight Reliance Industries (RIL) came off the higher level. The market breadth was positive, weakening from a strong breadth earlier in the day. Realty, IT, banking and consumer durables stocks rose. European stocks reversed initial gains. US index futures, too, reversed initial gains.
Market Review - Aug 13 2010
Benchmark indices, after surging nearly a percent in the first half, gave away half of the gains to close higher by about half a percent on the last trading day of the week. Sensex gained 93 points to close at 18167 while Nifty settled at 5452, up 35 points. BSE Mid-cap and Small-cap indices gained 1% and 0.7% respectively. Cairn surged 4.3% while Sterlite Industries plunged by the same quantum on the back of reports that the Vedanta Resources is likely to pick up 51% stake in Cairn India. Patni galloped 8.4% after the announcement of a special dividend of `. 63 per share and the buzz that the stake sake is soon to follow. On weekly basis, Sensex and Nifty are up 0.1% and 0.2% respectively. Realty index surged 6.6% week-on-week, becoming the top gainer among the sectoral indices followed by Consumer Durable index, up 4.4%. IT and Teck indices were down the most, shedding 2.2% and 1.7%. European markets, after opening in the green, slipped in the negative territory and were trading around half a percent lower. US stock indices futures too were down about half a percent ahead of retail sales and inflation data.
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