As anticipated by the experts, the markets are taking a reversal of course after having conquered some key resistance levels. The 5200 mark was hardly held and the markets have cracked a bit today with the Nifty slipping 117.40 points and closed the day at 5087.30 (-2.26%). The SENSEX closed at 16863.30 losing 370.68 (-2.15%).
The CNX Midcap ended at 6939.75 down 149.90 (-2.11%) while BSE Smallcap closed at 6373.59 slipping 118.10 (-1.82%).
A look at sectoral indices will show who was the reason behind the fall today. It is none other than the Capital Goods who have seen some sharp upward move in the past few days. The BSE Capital Goods index is down 5.55% while the BSE Power and Realty are down over 3% each.
Top losers of the day is lead by BHEL which slipped 10.76%. Sterlite Ind and Jaiprakash Asso are down over 6% each. Larsen, Sesa Goa and Mah and Mah are down over 5% each. Hindalco, SAIL, Bharti Airtel, Axis Bank, IDFC and ICICI Bank are down over 4% each while Tata Steel, Reliance Comm, Reliance and DLF are down over 3% each.
BHEL’s Q3 PAT went up 2% at Rs 1432 cr and total income rose 19% to Rs 10743 cr YoY.
January 30th, 2012
Indian stock markets managed to hold on their gains on the last trading session of the week.
The SENSEX touched the key mark of 17233.98 gaining 156.80 (0.92%) points while the NIFTY tested the 5200 mark and held it on a closing basis. The Nifty closed the day at 5204.70 gaining 46.40 (0.90%). The CNX Midcap closed at 7089.65 gaining 38.65 (0.55%) points while the BSE Smallcap closed at 6491.69 adding 83.24 (1.3%) points in trade today. The Nifty would see some resistance at 7220. Some experts believe that there will be huge volatility that will step in and the Nifty would come back to 6700 and 6400 levels.
Tata Steel is in news for it proposed a recovery plan for tubes business in Europe. The script closed at Rs. 458.75 gaining 13.90 (3.12%) with a volume of 5.78m shares traded.
BHEL’s Q3 net fell 2% to Rs 1427 cr YoY; OPM is expected to be at 19.69% Vs 22.96%. The script was punished a bit today and closed at Rs. 273.60 losing Rs. 8.85 (-3.13%) with a volume of 6.36m shares traded.
PM forms expert committee to examine issues on sugar. Balrampur Chini reacted swiftly and the script closed at Rs. 47.60 gaining Rs. 2.80 (6.25%) with a volume of 2.14m shares traded.
January 27th, 2012
Indian stock markets managed to hold on their gains on the last trading session of the week.
The SENSEX touched the key mark of 17233.98 gaining 156.80 (0.92%) points while the NIFTY tested the 5200 mark and held it on a closing basis. The Nifty closed the day at 5204.70 gaining 46.40 (0.90%). The CNX Midcap closed at 7089.65 gaining 38.65 (0.55%) points while the BSE Smallcap closed at 6491.69 adding 83.24 (1.3%) points in trade today. The Nifty would see some resistance at 7220. Some experts believe that there will be huge volatility that will step in and the Nifty would come back to 6700 and 6400 levels.
Tata Steel is in news for it proposed a recovery plan for tubes business in Europe. The script closed at Rs. 458.75 gaining 13.90 (3.12%) with a volume of 5.78m shares traded.
BHEL’s Q3 net fell 2% to Rs 1427 cr YoY; OPM is expected to be at 19.69% Vs 22.96%. The script was punished a bit today and closed at Rs. 273.60 losing Rs. 8.85 (-3.13%) with a volume of 6.36m shares traded.
PM forms expert committee to examine issues on sugar. Balrampur Chini reacted swiftly and the script closed at Rs. 47.60 gaining Rs. 2.80 (6.25%) with a volume of 2.14m shares traded.
January 27th, 2012
The Nifty held the 5150 mark despite a voatile session today. Experts believe the 5200 mark is the next decisive point and once the market conquers it and hold it for sometime, there will be a quick rally for sometime. With global sentiments too showing signs of stability, Nifty is more likely to reach the 5200 mark or near abouts for sure but how long it will stay there and form a base is to be seen.
SENSEX has held the 17k and closed at 17077.18 gaining 81.41 (0.48%) while the NIFTY has shut shop at 5158.30 gaining 30.95 (0.60%) points. CNX Midcap closed at 7051.00 adding 96.95 (1.39%) while BSE Smallcap ended at 6408.45 adding 70.44 (1.11%) points in trade today.
Kirloskar Oil Engines approved a buyback at up to Rs 170/sh and will spend Rs 73.6 cr for buyback. The script closed at Rs. 141.50 gaining 2.00 (1.43%) with a volume of 213.63k shares traded.
Kale Consultant will consider share buyback on February 01. The script closed at Rs. 141.00 gaining 23.50 (20%) with a volume of 523.93k shares traded.
January 25th, 2012
The de-growth of the Indian industries and the bleak economic environment will definitely be the main points of consideration, amongst others, as RBI will announce its short term credit rate policy decision later today. The Indian stock markets are keenly watching at it and would take a directional call based on it. For the past few sessions, the Global economic news isn’t that worry some. Even the quarterly results from top notch companies was okay if not dismal. Hence, RBI policy is considered a key directional call for the markets.
Earlier, the US markets (Jan 23, 2012) closed flat ahead of the Fed meeting.
Fortune Interfinance (FIFL) is bullish on Tata Consultancy Services (TCS) and has recommended buy rating on the stock with a target price of Rs 1165 in its January 19, 2012 research report.
The markets have finally given a blockbuster rally with the RBI deciding to keep the rates intact except for the cash reserve ratio which is relaxed in favor of the banks. Banks and Infra stocks had a stellar rally.
SENSEX closed at 16995.77 gaining a whopping 244.04 (1.46%) points. NIFTY closed at 5127.35 gaining 81.10 (1.61%) and appears to be building a stable base above the 5.1k mark. CNX Midcap closed at 6954.05 up 119.85 (1.75%) while BSE Smallcap ended at 6338.01 adding 44.00 (0.7%) points.
January 24th, 2012
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