Ø INDICES: Sensex -60 at 16420 (-0.36%),
NIFTY -9 at 4966 (-0.18%), CNXMIDCAP +8 at 7063 (0.11%)
Ø SECTORAL PERFORMANCE: BANKEX
-0.08%, AUTO -0.89%, CAPITAL GOODS -0.15%, HEALTHCARE -0.33%, Metal -1.02%, OIL
& GAS 0.62%, IT -0.13%, FMCG -0.25%, PSU -0.23%, REALTY -0.11%, Consumer
Durables 0.31%, POWER -0.75%
Ø MARKET BREADTH: 211 Advances,
280 Declines (BSE 500)
Ø VOLUMES: BSE $0.35bn (-5.63%), NSE
$1.81bn (-11.54%), F&O $20.67bn (-4.25%)
Ø TODAY'S GAINERS: CAIR 3.86%,
IDFC 3.04%, DLFU 2.34%, BPCL 2.23%, AXSB 2.09%
Ø TODAY'S LOSERS: MSIL -3.03%,
RBXY -2.92%, JSP -2.86%, SBIN -2.12%, PNB -1.86%
MARKET COMMENTARY:
Indian benchmarks pared gains
to continue its trade in red in the late afternoon session as conservative
investors started selling frontline blue chip counters amid weak European cues.
Sentiments also remained subdued as disappointing Chinese trade data kept
markets on edge. Chinese exports rose 4.9% in April from a year earlier, while
imports rose 0.3%, as per the latest data. The growth in both imports and
exports was below expectations. Besides, China's trade surplus for April
widened to $18.4 billion, compared to expectations of $10.4 billion. Traders
were seen piling up position in Oil & Gas sector while selling was
witnessed in Auto, Metal and FMCG sector. Maruti, Hero MotoCorp, Bajaj Auto and
Tata Motors from auto pack were seen trading weak driving the markets down.
Sterlite, Sesa Goa, SAIL, Hindalco, Jindal Steel and Tata Steel from Metal pack
were seen trading weak in red drifting the markets lower. However, Cairn India,
BPCL and ONGC from Oil & Gas sector was seen trading firm providing the
much needed support. In the scrip
specific development, lot of activity has been noticed in cement companies
counters on reports that the Competition Commission of India, an anti-trust
body, has completed its probe into alleged cartelization by around 39 cement
companies, CCI may impose hefty penalties on companies found guilty. On the
global front, the Asian markets were trading on a mix note while the European
markets were too trading on a mix note. On the home turf, the market breadth was negative.
NEWS ON TODAYS MOVERS:
Ø Gammon
Infrastructure Projects tumbled 0.82% after the company reported consolidated
net loss of Rs 15.51 crore in Q4 March 2012, compared with net profit of Rs
8.51 crore in Q4 March 2011.
Ø Reliance
Industries traded flat with marginally closing in negative after the company
said it raised $2 billion in debt from a consortium of nine international
banks.
Ø ABB fell 3.30%,
extending Wednesday's 1.50% fall triggered by weak Q1 March 2012 results
announced during trading hours on Wednesday, 9 May 2012.
Ø Bank of Baroda
rose traded in green after LIC said it acquired 2.18 crore shares of the bank
from 12 October 2011 to 4 May 2012 through a combination of preferential issue
of shares and through open market purchases.
Ø Glenmark
Pharmaceuticals surged 6.44% with the stock extending Wednesday's 3.03% gains
triggered by the company reporting strong Q4 earnings.
Ø NTPC fell 1.35%
after net profit fell 6.77% to Rs 2593.44 crore on 5.20% increase in total
income to Rs 17,031.82 crore in Q4 March 2012 over Q4 March 2011.
Ø Apollo Tyres
tumbled 3.43% after consolidated net profit fell 18.38% to Rs 156.95 crore on
17.54% growth in total income to Rs 3257.70 crore in Q4 March 2012 over Q4
March 2011.
Ø Emami rose 0.74%,
with the stock extending Wednesday's 7.36% rally triggered by the company
reporting strong Q4 earnings.
Ø Infrastructure
Development Finance Company jumped 3.04% with the stock extending Wednesday's
1.49% gains triggered by the company reporting strong FY 2012 results.
CORPORATE NEWS:
Ø AI pilots'
stir continues, 20 flights cancelled
Ø PTC India
appoints Jeffrey Wilmot as Sr VP
Ø Puravankara Q4
net zooms two-fold at Rs 46 cr
Ø Aditya Birla
group bids for Australian iron ore firm: report
Ø Aditya Birla
group bids for Australian iron ore firm:
Ø TV18 Jan-Mar
qtr loss narrows to 8.26 cr
Ø Cipla breached
patent rights by slashing drug prices: Bayer
Ø Canara Bank Q4
net drops 8% to Rs 829 cr
Ø Apollo Tyres
Q4 net declines 18% to Rs 157 cr
Ø Brent drops
below $113 after China trade data
Ø Jubilant Food
Q4 cons net profit jumps by 44%
Ø BHEL-WRI, HCC
JV to build India's longest railway bridge
Ø ONGC keen to
offer 0.6 mmscmd gas to SPIC
ECONOMIC NEWS:
Ø Moody’s plans
to downgrade over 100 banks
Ø Govt may
retain FDI cap in insurance sector at 26%
Ø RBI asks
exporters to convert 50% of Forex into rupees
Ø Pranab's
remark leads to adjournment of Lok Sabha for an hour
Ø April car
sales rise 3.4% y-o-y
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