Indian Stock Market Post Session Report, Dated 29/12/2009
The profit booking in the fag end of the session led the domestic stocks market to pare most of its intraday gains to close marginally above the dotted line. After a smart pull back from the days low in the mid session due to recovery of most Asian markets as well as firm opening of the European markets, which led the domestic benchmark indices to touch 19 months high. However, the market did not sustain at the higher level and tumbled to pare most of its gains ahead of the expiry of the derivatives contract scheduled this Thursday. Though the market opened after four long days of break, significant buying was witnessed across the counters during the trading session. The BSE Sensex ended above 17,400 level and NSE Nifty closed above 5,185 mark at new 2009 high.
The Indian market opened higher today on the back of positive cues from the Asian markets but gained further momentum in the id session to touch day’s high on significant buying support. Further, the domestic market continued to trade in the positive terrain throughout the trading session. From the sectoral front, Consumer Durables, Metal, Power and Bankex indices closed in positive while Health Care, IT and Realty indices remained on the sellers’ radar. Moreover in the global arena, the US markets on Monday ended firmly higher for the sixth straight session taking cues from the overseas markets along with a dip in dollar. Data signifying consumer spending was on the cards which led shares of retailers mount higher during the session. Greenback pulled back, giving early support to the stocks before setting with a 0.1% loss. Stocks came under pressure in the afternoon as Financials toppled.
Prime Minister Manmohan Singh yesterday said that the economy will grow at 7% or a little more in 2009-10. However, the finance Ministry last week had said that the Indian economy can grow at 7.75% in the fiscal.
Among the Sensex pack 19 stocks ended in green territory and 11 in red. The market breadth indicating the overall health of the market remained positive as 1,859 stocks closed in green while 964 stocks closed in red and 79 stocks remained unchanged in BSE.
The BSE Sensex closed higher by 40.95 points or (0.24%) at 17,401.56 and NSE Nifty ended up by 9.55 points or (0.18%) at 5,187.95. BSE Midcap and Smallcap closed with gains of 33.33 and 94.26 points at 6,674.47 and 8,214.97 respectively. The BSE Sensex touched intraday high of 17,486.05 and intraday low of 17,372.63.
Gainers from the BSE Sensex pack are Reliance Infra (2.85%), Hindalco Inds (2.73%), ICICI bank (1.73%), Bharti Airtel (1.51%), HDFC (1.25%), NTPC (1.11%), Tata Steel (1.02%), Tata Motors (0.81%) and Hero Honda (0.52%).
Losers from the BSE Sensex pack are Wipro (1.85%), Sun Pharma (1.64%), DLF (1.36%), ONGC (0.96%), TCS (0.88%) and HDFC bank (0.81%).
On the global markets front, the Asian markets that opened before the Indian market, ended higher. Shanghai Composite, Strait Times, Jakarta Composite, KLSE Composite, Hang Seng and Nikkei ended higher by 0.72%, 0.49%, 0.37%, 0.09% and 0.04% at 3,211.76, 2,869.76, 2,518.99, 21,499.44 and 10,638.06 respectively.
European markets, which opened after the Indian market, are trading in green. In Paris, CAC 40 is higher by 0.27 at 3,957.87. Going ahead, in London FTSE 100 is higher by 0.45% at 5,426.46 and Germany’’s DAX is up by 0.04% at 6,005.31.
Reliance Industries closed up by 0.24% at Rs 1,077.75 as the company announces that it has successfully carried out an assessment of the design capacity of the KG DB deepwater gas production facilities on December 23rd, 2009.
Escorts Ltd surged 4.28% to close at Rs 130.25 as the company posted an eight fold increase in net profit to Rs 89.74 crore for the financial year 2008-09 ending September 2009 as against profit of Rs 11.87 crore reported last fiscal 2007-08. The net sales increased by 8% to Rs 2,157.78 crore as against Rs 1,992.93 crore reported last fiscal.
Ranbaxy Labs closed up by 0.10% at Rs 520.55 as the company and I ING Chembio Pharmacy Co. Ltd. today announced the transfer of Ranbaxy group’’s entire shareholding in Ranbaxy (Guangzhou China) Limited (RGCL) to HNG Chembio Pharmacy Co. Ltd. (HNG).
Reliance Power grew by 4.94% to close at Rs 154.15 as the company stated that it planned to become over 3,300-MW company by the end of the Eleventh Plan (2007-12) while inaugurating the first unit of the company’’s Rosa thermal power plant.
National Mineral Development Corporation (NMDC) spurts 2.80% to close at Rs 425.75 on the back of reports that the government is planning to disinvest 8.38 percent in the mining and minerals firm through a follow on public offer in this fiscal.
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