Mid Session market Analysis for Nov 15, 2011

The Indian benchmark indices so far remained volatile as expected with weak global as well as domestic factors to have played. Italian worries continue to topple world equity markets with rising yields on bonds and rising doubts over new leaders to be able to deal with crisis. The choppy trade during the day can also be attributed to have linked with weak domestic factors. On Monday, November 14, 2011, inflation for the month of October showed little signs of easing, remaining close to double-digits mark. Besides, corporate results for the quarter ended September also failed to woo investors.

At 12:28 hours, the bellwether index of BSE, Sensex was trading at 17,123.52 points reflecting a gain of 4.22 points or 0.03% from its previous close of 17,118.74, while the 50-share index of NSE, Nifty was trading at 5128.5 points, reflecting the decline of 19.5 points or 0.39%.

The BSE MIDCAP was at 5995.05 down by -68.7 points or by -1.13 %. while the BSE SMLCAP was at 6552.14 down by -93.35 points or by 1.4 %.

Overall market breadth was negative on BSE as 733 stocks advanced in contrast to decline in 1,899 stocks while 92 remained unchanged at 10:28 hours.

The top losers of the BSE Sensex pack were DLF Ltd. (Rs. 213.65,4.24%), Tata Power Company Ltd. (Rs. 98.05,2.44%), Jaiprakash Associates Ltd. (Rs. 73.25,1.74%), Tata Steel Ltd. (Rs. 407.40,1.27%), Hero MotoCorp Ltd. (Rs. 2182.50,1.24%), among others.

Leading the losers chart on Sensex pack, Tata Power was trading over 4% lower after posting weak Q2 numbers. India"s largest private sector power utility, Tata Power reported a consolidated net loss of Rs 1,218.8 crore for the second quarter ended September 30, 2011. The company had posted a net profit of Rs 672.5 crore in the July-September quarter last year, Tata Power said in a filing to the Bombay Stock Exchange on November 14, 2011.

Lagging the most among sectoral indices, BSE Realty index was at 1703.44 down by 59.85 points or by 3.39%. D B Realty Ltd. (Rs. 57.00,7.01%), Indiabulls Real Estate Ltd. (Rs. 68.40,5.00%), Housing Development & Infrastructure Ltd. (Rs. 81.60,4.67%), DLF Ltd. (Rs. 213.65,4.24%), Unitech Ltd. (Rs. 25.05,2.53%).

In BSE, BSE_CDS index was at 6195.42 down by 61.3 points or by 0.98%. Blue Star Ltd. (Rs. 184.05,2.26%), Whirlpool of India Ltd. (Rs. 185.60,2.19%), TTK Prestige Ltd. (Rs. 2577.50,1.61%), Rajesh Exports Ltd. (Rs. 140.40,1.54%), Titan Industries Ltd. (Rs. 207.10,1.10%).

Kingfisher Airlines, which had gained much as 4% in continuation with the losses witnessed on Monday, has made a smart recovery to Rs 21, up 0.9%, on the BSE.

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