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Sensex gains 100 points on International cues


Sensex gains 100 points on International cues
The BSE Sensex closed with a gain of 100 points or 0.66%, at 17,177.66; meanwhile NSE Nifty closed up by 34.10 with gains of 5,158.75.

Indian stock market reacted to the upmove in European markets which had gained approximately 1% ahead of the meeting of Bank of England and the European Central Bank alog with the Obama speech today.

Reliance Industries closed with gains of 2.62%. The stock which gained the highest among the 30-stocks that comprise the Sensex was Cipla.

Among other Hindustan Unilever, L&T, Infosys, ICICI Bank, Wipro and Tata Motors rallied 1-2.59%. Heavyweights SBI and Bharti Airtel too were supportive with moderate gain. Jindal Steel lost the maximum with 1.57%.

Of 30 shares in Sensex, 15 advanced while 15 shares declined on Sensex.

However, ONGC, NTPC, HDFC, SAIL, Bajaj Auto, JSPL, Tata Steel, Power Grid and Tata Power were under selling pressure, which fell 0.7-1.7%. ITC and HDFC Bank declined 0.4% each.

Nectar Life and Hindustan Dorr-Oliver were locked at 20% upper circuit. Hanung Toys, Dynamatic Tech and Allied Digital gained 10-13%.

4:00 p.m.

Markets break range bound movment. Sensex up by 111 points

The market gained sudden momentum, the BSE Sensex went up by 111 points or 0.65% to 17,176. Nifty gained 36.25 point or 0.71% to 5,160.90 level.

Even among the sectoral indices, all the sectors barring MFCG were in the positive terrain. This BSE FMCG was down by 0.28%.

SBI, Reliance Industries, Infosys, Everonn Education and L&T were most active shares on exchanges.

Wipro, Ranbaxy, HCL Tech, Sterlite were leading gainers on Nifty. However, leading draggers were SAIl, BAjaj Auto, HDFC, NTPC, and Powergrid.

2:23 p.m.

Markets fall on inflation numbers. Sensex at 17, 036

On announcement of inflaton both the major indices turned negative. Though food inflation fell to 9.9%, fuel price inflation touched 12.55% for the week ending on August 27,


Sensex turned negative with -28.97 points loss to 17,036 levels. meanwhile Nifty was trading at 5,112.65 down by 12points or 0.23%.

Among the sectoral indices on the BSE, Auto, Bankex, Metal and Oil&Gas were trading in the negative territory. where as, IT, TECk, Consumer Goods, HealthCare, Consumer Durables, Power and Realty were in possitive terrain.

The stock prices of Reliance Industries were witnessing profit booking after CAG report was tabled in the parliament.

Unitech and KSOils were the most traded stocks on the NSE.

12:25 p.m.

Markets to remain rangebound. BSE at 17,085.70

The benchmark index at the Bombay Stock Exchange (BSE) went up by 20.70 points or 0.12% to 17,085.70 level. Meanwhile the National Stock Exchange (NSE) benchmark index was at 5,116.70 registering a fall of -7.95 points or -0.16%.

The Indian indices are expected to be range bound. On the plus side, US markets performed better on short-covering and closed on the green side of the barometer. Meanwhile, the German court's rejection of lawsuit that demanded blocking of Berlin's participation in Greece and other heavily indebted Eurozone countries offered some temporary relief to the global market.

The world market is going to look forward to US President, Barack Obama's speech. It is being speculated that the president will announce a USD 300 billion package. This will comprise of tax cuts and government spending as well.

The other important event will be US Federal Reserve chairman Ben Bernanke's speech at the Minnesota Economic Club. There is expectation that the Weekly jobless claims is expected to reduce to 408,000 from 409,000.

The international trade data for July is expected to come out today. The trade balance is expected to post a decline to minus USD 51.9 billion from minus USD 53.1 billion.

Also, the weekly petroleum inventory data by the energy information administration is expected to come out today.

On the front of individual stocks. SBI has said they will not be dragged to the home loan schemes after ICICI Bank and HDFC made their announcements. Also the largest bank in India said it adheres to RBI's loan prepayment charges.

Reliance Industries will also be keenly followed as the Comptroller and Auditor General of India (CAG) report on KG D6 will be tabled in Parliament today.

Also Jaiprakash Associates has said that the news item regarding the company's plan to dilute its cement business is not correct. This news has adversely effect the stock.

A company called TD Power has been listed on the BSE. The company has raised Rs 227 crore through this issue.

10:11 a.m.

Read more about: bse sensex nifty capital market
Story first published: Thursday, September 8, 2011, 10:21 [IST]
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