Sensex 300 points up

Equity  continued their upside momentum today at 14:47 hours - the Sensex added more than 300 points and the Nifty gained about 90 points - boosted majorly by heavyweights. All sectoral indices were on buyers' radar barring health care. The broader markets too participated in the rally with one percent gain.

Prakash Diwan of Networth Stock Broking remains optimistic as he believes that the market has more steam to go all the way up to above 5750, possibly 5800 levels. "There is some genuine value buying that has started emerging and we could possibly have a couple of dull boring days that is when the consolidation becomes more meaningful," he pointed out.

The BSE Realty and Capital Goods indices were major gainers with 2.5% rise. Metal, Bank, Power, Oil & Gas and Auto indices were up 1-2%. However, HCL Tech, Dr Reddy's Labs, ACC, Bajaj Auto and Ranbaxy Labs were only losers on NSE Nifty.

The 50-share BSE Sensex rallied 337 points at 18,428 and the 50-share NSE Nifty jumped 90 points to 5,522. The Nifty February futures were trading at 16 points premium..

Among frontliners, DLF, Hindalco, Tata Motors, Jaiprakash Associates, L&T and Bharti Airtel surged 4-6%.

In midcap space, JSL Stainless, Polaris and National Fertilisers gained 9-13% while Shree Global, Sobha Developer, Manappuram, MindTree and Phoenix Mills fell 5-19%.

In smallcap space, Kalyani Steels, Graviss Hosp, Ind-Swift Labs, Marathon Nextgen and Dhanlaxmi Bank went up 9-17% whereas Titagarh Wagons, Odyssey Finance, Camlin, Bheema Cements and Kernex Micro lost 5-6%.

BF Utilities shot up 20% as Supreme Court removed roadblock for its arm NICE project. SC approved land acquisition for NICE project by Karnataka govt.

Nifty Flat

The Nifty was quiet in opening trade on the back of lack of global cues. Asian markets are shut today while US markets ended flat yesterday. Both Indian benchmarks were consolidating around their previous closing values amid thin volumes.

Among frontliners, Reliance Communications, BPCL, Tata Motors, Hero Honda, Reliance Power, L&T, ITC, M&M, ICICI Bank and HUL were witnessing selling pressure.


However, Bharti Airtel, Infosys, BHEL, Sterlite Industries, Tata Steel and Hindalco were on buyers' radar.

At 9:16 hours IST, the 30-share BSE Sensex was trading at 18,126, up 33 points and the 50-share NSE Nifty rose just 3 points to 5,435

The CNX Midcap Index fell 22 points to 7,734. About 416 shares advanced as against 368 shares declined on National Stock Exchange.

Midcap & Smallcap:

Bajaj Hindusthan, Shree Renuka Sugars and Balrampur Chini were up 2-3%. Sugar futures surged 4% at USD 0.35 per pound, highest since 1980.

Sensex 200 points up

The Sensex added more than 200 points in trade today at 14 hours as against fall of more than 1100 points in previous five sessions, led by buying in most beaten down sectors like technology, oil & gas, metal, realty, FMCG, telecom and financial (barring HDFC group).

Even the Nifty was inching up towards 5500-mark but the profit booking at higher levels as well as sell-off in NTPC, HDFC, HDFC Bank, BHEL, Maruti, Bajaj Auto, Hero Honda and PNB capped the gains.

Hero Honda slipped into red after disappointing quarterly numbers. Country's largest two-wheeler maker Hero Honda has reported net profit of Rs 429 crore for the quarter ended December 2010, degrowth of 20% and net sales jumped by 34.2% to Rs 5,118 crore on year-on-year basis.

The 30-share BSE Sensex was trading at 18,264, up 242 points and the 50-share NSE Nifty rallied 64 points to 5,481. The broader indices gained but less as compared to benchmarks - BSE Midcap and Smallcap indices went up 0.8% each.

Among largecaps, Tata Motors, TCS, DLF, Reliance Industries, Sterlite Industries and BPCL were top gainers with 3.4% upside.

However, Maruti Suzuki, NTPC, HDFC, Bajaj Auto, HDFC Bank, PNB and HDFC were biggest losers with 1-2% fall.

Tata Steel, SBI, Jain Irrigation, Reliance Industries, DLF and Tata Motors were most active shares on exchanges.

In midcap space, Jain Irrigation, Eicher Motors, KS Oils, Prakash Industries and Shree Global gained 8-11% while City Union Bank, India Cements, KGN Industries, Patel Engg and Jubilant Life lost 4-7%.

In smallcap space, Astra Microwave surged 16%. Kiri Dyes Chemical, Rollatainers, Delta Corp and PTL Enterprises rose 6-9%. However, Gemini Comm, Sarda Energy, Binny, Kernex Micro and Emami Paper slipped 5-6%.

Nifty Bounces Back

Equity clawed back on the back of short covering, which was imminent after selling seen in previous five sessions. The Nifty inched up above the 5450 level. But there was a bit of profit booking at higher levels. Global cues were quite supportive in early trade - the US markets closed above psychological levels on Tuesday.

Among frontliners, Tata Motors, Reliance Industries, NTPC, TCS, SBI, ICICI Bank and Sterlite Industries were gainers in early trade.

However, Tata Steel fell 0.75% to Rs 627 as against issue price of Rs 610 a share. The company listed its 5.7 crore shares on exchanges, which issued via follow-on public offer in January.

Bharti Airtel tanked over 3% following disappointing numbers but managed to showed smart recovery in few minutes after opening trade.

At 9:17 hours IST, the 30-share BSE Sensex was trading at 18,222, up 200 points and the 50-share NSE Nifty was at 5,470, up 53 points.

The CNX Midcap rose 66 points to 7,842. About 592 shares advanced as against 95 shares declined on National Stock Exchange.

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