Overall, it was a day of volatility, where in the benchmark indices managed to end higher. Shares of realty, auto, capital goods, power, metal and major telecom companies supported the markets. However, selling was seen in ONGC, Cairn India, Satyam as well as cement and select banking stocks. Reliance Industries played a key role a bit in today's volatility.
The 50-share NSE Nifty has touched a 3100 mark during the day. It has touched an intraday high of 3106.80 and low of 3036.30, before closing with a gain of 16.75 points or 0.55% at 3077.50. The 30-share BSE Sensex went up just 23.48 points or 0.23% to 10,099.91, after hitting a high/low of 10,188.54 and 9,987.42, respectively.
A bit of effect of expectations of rate cut, due to decline in inflation numbers, on realty, auto and infrastructure stocks continued in today's trade as well. Banking stocks were also up during the day, but in last couple of hours, they turned into red due to profit booking.
BSE Realty Index surged 241.35 points or 10.57% to 2,525.34. Unitech shot up 16.14%. Indiabulls Real and DLF gained over 10.6%.
Auto stocks like Amtek Auto rose 8.14%. M&M, Tata Motors and Maruti Suzuki jumped 2.5-4%. Index was up 45.14 points or 1.79% at 2,561.63.
Power Index closed with a gain of 18.67 points or 1.01% at 1,863.67. GVK Power, Power Grid Corp, CESC, GMR Infra, Reliance Infrastructure, Tata Power and Reliance Power were up 1-8%.
Buying was also seen in pharma stocks like Matrix Labs, Dishman Pharma, Biocon, Dr Reddys Labs, Wockhardt and Cipla rose 1.85-9.35%. Healthcare Index gained 45.30 points or 1.55% at 2,960.67.
FMCG Index rose 19.73 points or 0.97% to 2,054.54. Godrej Consumer, Britannia, Tata Tea, GlaxoSmith Consumer and HUL went up 3.6-9%.
Capital Goods Index settled at 7,196.28, up 56.08 points or 0.79% over previous close. L&T was up 0.94% and BHEL up 0.37%.
Telecom stocks like Reliance Communication, Bharti Airtel and MTNL were up 1.3-2.7%. Tata Comm was up 0.46%. However, Idea Cellular fell 1.31.
Banking stocks like PNB was up 3.79% and ICICI Bank up 0.13%. However, Kotak Mahindra, HDFC Bank and SBI lost 0.6-0.96%. Bankex was up just 11.18 points or 0.2%, to close at 5,631.22.
Metal Index went up 0.12% or 6.66 points at 5,434.85. Sterlite Industries, Tata Steel, Jindal Saw and SAIL gained 0.5-3.6%.
There was a pretty mixed picture in technology stocks. IT Index closed flat at 2,346.97. HCL Tech rose 3.18%. Infosys and TCS gained 0.6-0.7%. However, Satyam fell 3.87% and Wipro was down 0.30%.
However, shares of oil exploration companies ended on a weak note due to fall in crude oil prices. Cairn India tumbled 4.26% and ONGC fell 3.23%. Reliance Industries lost 0.81%.
January Crude futures was trading around USD to a barrel during the day, fell nearly 10% yesterday and lost 22% this week. But this will be beneficial for oil marketing companies as well as airline companies. BPCL shot up 4.49% and IOC gained 3.90%. HPCL rose 1.86%.
There are expectations of cut in aviation turbine fuel, ATF prices, which is good for Airline companies. IOC cut ATF price by 12% this week and ATF prices have come down by 65% from high. Markets hope that cut will help boost margins. Shares of airline companies like Jet Airways jumped nearly 12% and Kingfisher Airlines rose 16.86%. SpiceJet went up 6.68%.
Midcap and small cap indices outperformed the benchmark indices. BSE Midcap Index was up 59.43 points or 1.85% at 3,263.99 and Small Cap index gained 32.07 points or 0.86% at 3,744.02.
Among the midcap stocks, EIH, Gammon India, BGR Energy, Motherson Sumi and Voltas shot up 11-13%.
In the small cap space, Murli, Jyothy Laboratories, Hind Dorr-Oliver, Lloyd Electric and Alphageo went up 13-20%.
Market breadth was positive due to broader indices; about 1609 shares have advanced while 1181 shares declined. Nearly 411 shares remained unchanged.
Total traded turnover was at Rs 68,955.63 crore. This includes Rs 13,231.08 crore from NSE Cash segment, Rs 50,670.28 crore from NSE F&O and the balance Rs 5,054.27 crore from BSE Cash segment.
On the weekly basis, markets gained due to fall in commodities and decline in inflation to 6.84%. Sensex shot up 4.5% and Nifty up 6%. Among the frontliner stocks, HCL Tech rose 30% followed by Unitech, Suzlon and Siemens, which up 27%, 15% and 18%, respectively. Bankex was up 12% due to gain of 15% in ICICI Bank and HDFC Bank. Auto was another sector, which gained sharply; BSE Auto Index up 9.2%. Tata Motors was up 18% and M&M & Maruti rose 10%.
On the global front, European markets were trading sharply lower. FTSE went down 60 points to 4,270. CAC was down 64 points to 3,170 and DAX down 75 points to 4,681, at 3:44 hours IST.
US futures also declined. The Dow Jones Futures was down 60 points at 8,618 and Nasdaq fell 7 points at 1,219.
Asian markets ended mixed. Hang Seng tumbled 2.39% and Nikkei fell 0.91%. Jakarta, Straits Times and Taiwan fell marginally. However, Shanghai gained 0.14% and Kospi rose 0.43%.
Markets This Week
Markets gain as commodities tumble, rupee gains & inflation falls to 6.84%
Sensex up 4.5%, Nifty up 6%, CNX Defty up 8.5%
CNX Midcap up 7.5%, BSE Small Cap Index up 6%
Index Gainers: HCL Tech up 30%, Unitech up 27%, Suzlon up 15%, Siemens up 18%
BSE Bank Index up 12%; ICICI Bank, HDFC Bank up 15%
BSE Auto Index up 9.2%; Tata Motors up 18%, M&M, Maruti up 10%
Cement Stocks: Ambuja Cement up 16%, Grasim up 14%
Index Losers: Satyam down 27%, R Comm down 12.5%, HDFC down 6.5%
Midcap Gainers: HDIL up 53%, IBREL up 25%, India Info up 33%
Midcap Gainers: Educomp up 29%, GVK Power up 13.5%, Axis Bank up 18%
Sugar Stocks: Bajaj Hind up 30%, Balrampur up 10%
Big Gainers: Pyramid Saimira up 62%, Varun Ind up 52%, GMDC up 40%
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