Ø
INDICES:
Sensex +82 at 16913 (0.48%), NIFTY +27 at 5114 (0.54%), CNXMIDCAP +25 at 7240
(0.34%)
Ø
SECTORAL
PERFORMANCE: BANKEX 0.8%, AUTO 1.23%, CAPITAL GOODS
3.87%, HEALTHCARE -0.13%, Metal 1.57%, OIL & GAS -0.51%, IT -0.04%, FMCG
-0.72%, PSU 0.46%, REALTY 0.68%, Consumer Durables 1.45%, POWER 1.82%
Ø
MARKET
BREADTH: 311 Advances, 181 Declines (BSE 500)
Ø
VOLUMES: BSE $0.39bn
(-19.57%), NSE $2.21bn (2.84%), F&O $25.73bn (22.89%)
Ø
TODAY'S
GAINERS: BHEL 6.03%, RPWR 5.44%, BPCL 5.17%, LT 4.86%, DLFU 4%
Ø
TODAY'S
LOSERS: CAIR -2.51%, HCLT -2.2%, JPA -2.18%, DRRD -1.85%, RIL -1.48%
MARKET COMMENTARY:
Global risk aversion seemed to be taking its toll on
stock markets in India in the Monday morning trades as the frontline equity
indices got decimated by another close to two percentage points at the initial
start but later key Indian equity benchmarks recovered smartly in the
mid-afternoon trade after Finance Minister Pranab Mukherjee said in the
parliament that GAAR will be implemented from next year. Meanwhile,
there was some respite for market participants on the currency front, following
the announcement made by the Finance Minister on GAAR, as the rupee recovered
after initial losses against the US dollar in the late morning trade due to
fresh selling of the American currency by banks and exporters. On global front
the US markets went for sharp sell-off over the weekend on getting lower than
expected jobs number, making it their worst weekly closing of the year so far.
Concerns also exacerbated over the European debt crisis after French and Greek
voters ousted respective incumbent parties in a backlash against austerity measures
aimed at battling the euro zone crisis. Moreover, the broader markets traded on
a bleak note the market breadth was in favor of advances towards the end.
NEWS ON TODAYS MOVERS:
Ø
Grasim Industries surged nearly 4.13% after
consolidated net profit fell only 8% to Rs 808.78 crore on 12.6% increase in
net sales to Rs 7205.80 crore in Q4 March 2012 over Q4 March 2011.
Ø
Corporation Bank rose 4.46%, with the stock
recovering on bargain hunting after 2-day 5.61% fall.
Ø
Cairn India tumbled 2.51%,as crude futures
fell to the lowest level in 4 months after European elections stoked
speculation that austerity efforts will be derailed. .
Ø
Public sector oil marketing companies rose by
1.03% to 2.30% after crude oil price declined sharply.
Ø
Bosch surged nearly 3.65% after net profit
rose 22.38% to Rs 335.82 crore on 10.23% growth in total income to Rs 2311.81
crore in Q1 March 2012 over Q1 March 2011.
Ø
Bhel surged nearly 6.03% on bargain hunting
after the stock tumbled 18.56% in the preceding thirteen sessions to Rs 214.10
on 4 May 2012, from a recent high of Rs 262.90 on 17 April 2012.
Ø
Bank of Baroda shed 1.03%, with the stock
extending Friday's 5.99% slide triggered by the bank reporting 11.72% fall in
profit before tax at Rs 1196.51 crore in Q4 March 2012 over Q4 March 2011.
Ø Aviation firms rose by 5.39% to 10.79% on hopes that state-run oil marketing
companies may cut jet fuel prices after crude oil price declined sharply.
Ø Glenmark Pharmaceuticals fell 2.44%, with the stock
sliding on profit booking after 3-day 4.88% gains after the company said its
subsidiary has secured US approval for Lamotrigine tablets in various
strengths.
Ø HDFC rose 0.56% after net profit rose 16.13% to Rs
1326.14 crore on 29.23% rise in total income to Rs 4891.03 crore in Q4 March
2012 over Q4 March 2011.
CORPORATE NEWS:
Ø
HDFC announced div of INR 11.
Ø
United Phos board OKs buyback
Ø
Bosch Q1 net profit surges by 22%
Ø
Andhra Bank Q4 net profit up by 8%
Ø
L&T opts French co Keolis for Hyderabad
metro
Ø
Allahabad Bank Q4 cons net profit up by 29%
Ø
Grasim Industries Q4FY2012 results better
than estimates
Ø
BHEL-ISG receives NTPC order
Ø
Govt to take up 49 FDI requests on May 09
Ø
Godrej Prop to expand redevelopment proj in
Mumbai
ECONOMIC NEWS:
Ø
Mukherjee says proposes to amend gaar
proposals
Ø
Mukherjee says gaar deferred by 1 year
Ø
Mukherjee says will reply to finance bill
discussions tomorrow
Ø
India cuts cap gain tax for foreign
investors, pe to 10% vs 20%
No comments:
Post a Comment