|
Trading firm till early in the afternoon, the market slipped considerably
towards close as buying support failed to emerge. The global cues were good
with oil prices declining and US markets closing higher yesterday. However,
lack of liquidity saw the indices declining on low volumes. The Sensex closed
at 6546, down 61 points and the Nifty at 2053, down 16 points.
Among
index stocks ABB, Colgate Palmolive and Tata Motors were the biggest percentage
gainers while ICICI Bank, Bajaj Auto and BHEL were the major losers. Yesterday's
crude futures for May delivery slipped close to half a percent on reports
of higher US inventories. Dow closed with gains for the third straight day
while NASDAQ closed flat. The
Indian ADR's reversed their losing trend of the last few sessions with HDFC
Bank leading the way. The ADR of the private sector bank gained close to 5
percent. Tata Motors gained close to 2 percent while ICICI Bank, Dr. Reddy's
and VSNL gained more than a percent each. Among the tech pack, Wipro closed
with some gains while Satyam and Infosys ended almost flat. MTNL was the only
loser. Tata
Motors has reported excellent sales numbers for the month of March. Total
vehicles sold increased 28 percent from a year ago to 44,433 units. Passenger
vehicle sales rose more than 30 percent, while exports have doubled. Sales
of its Indica model crossed the 100,000 units per year mark for the first
time. The stock firmed up on the news and closed with gains of more than two
percent. Tata
Steel has restarted production at its largest blast furnace in Jamshedpur.
The furnace was undergoing capacity expansion from 1 million to 1.8 million
tonnes per annum over the last few months. Even without this furnace, the
company was able to post higher production for the year ended March. The stock
closed lower. Reliance
Energy has bagged a contract for constructing a 230 MW hydro -power project
in the state of Uttaranchal. Reliance Industries received government approval
for its plans to develop natural gas fields. The development is expected to
cost close to $2.5 billion. Both stocks closed with losses. Jet
Airways gained close to 2 percent as the company is readying to start services
to Singapore this week. The airline has also announced the start of a daily
service to Kuala Lumpur from Chennai. Public
Sector telecom giant BSNL plans to spend a massive Rs75,000 crore by way of
adding an additional 75 million cell phone customers over the next three years.
The company has fewer than 10 million cellular subscribers as of now. The
proposed merger between BSNL and MTNL is yet to be finally approved by the
government. MTNL is a listed company while BSNL is fully owned by the government. The
tech pack generally had a bad day with Infosys losing more than 2 percent.
TCS and Satyam also closed with losses while Wipro bucked the trend and closed
with more than a percent gain. Mid-cap
action
Mid-caps bucked
the weak trend in frontline stocks and the CNX mid-cap 200 index posted gains
of more than half a percent. Jewelry
exporter Rajesh Exports gained four percent in early trades on news of an
order worth Rs126 crore from Kuwait. The company had received orders from
the UAE and Singapore in the recent past. Tata
Teleservices (Maharashtra) announced capital investment plans of Rs750 crore
to expand capacity in Maharashtra and Goa telecom circles. The company has
around a million customers at present and is confident of adding subscribers
at the rate of 100,000 per month in the near future. United
Western Bank made smart gains ahead of its board meeting to raise additional
capital to meet capital adequacy norms. Paper
stocks saw good demand in early trades on news of a price hike. According
to reports, industry leader Ballarpur Industries has hiked the prices of paper
by Rs600 to Rs1,000 per tonne. After trading firm till early afternoon, Bilt
closed with marginal losses. The
traders' strike and confusion surrounding the implementation of VAT are affecting
the pharma companies. After Pfizer came out with reports of slowing sales
last week, Nicholas Piramal said today that it lost almost 6 weeks' worth
of sales. The stock lost more than 3 percent in morning trades. Pioneer
Embroideries, the largest manufacturer of embroidered and lace fabrics, saw
some action after it announced plans to set up a unit in Nigeria. The company
is trying to expand globally in the post quota regime. Onida
Savak lost 10 percent for the second consecutive day, as the merger ratio
with parent company Mirc Electronics is unfavorable to Savak shareholders.
Onida Savak is a manufacturer of white goods including washing machines.  Among
mid-caps, Vesuvius India, Reliance Industrial Infrastructure and Cinevista
were among the biggest percentage gainers.
Hindustan
Oil Exploration, South East Asia Marine and Calsoft were among the major mid-cap
losers.
*Disclaimer:
The author doesn't have any position in the stocks specifically mentioned
above at the time of writing this article. This analysis/report is only
for the purpose of information and is not an investment advice. Readers
are advised to consult a certified financial advisor before taking any investment
decisions. While efforts have been made to ensure the accuracy of the information
provided in the content the author or publisher shall not be held responsible
for any loss caused to any person whatsoever.
Other
articles by Rex Mathew
List
of general reports on markets
List
of general reports on finance
Market:
Indices
National
Markets
Gain (+) / Loss (-)
|
SENSEX
|
6,545.64
|
-60.77 |
| NIFTY
|
2,052.85
|
-16.45 |
Last
Update : 7 April, 2005, 16:15 PM
Market
Counters
Figures in Rupees
BSE
30
| Scrip
Name |
Open |
High |
Low |
Last
Price |
| TATA
MOTORS |
418.40
|
427.40
|
413.25
|
423.75 |
| HDFC
BANK LT |
560.00
|
568.90
|
555.70
|
561.75 |
| WIPRO
LTD. |
671.00
|
690.50
|
671.00
|
679.70 |
| HEROHONDA
M |
538.80
|
548.50
|
537.00
|
541.30 |
| ZEE
TELEF LT |
148.00
|
153.25
|
145.90
|
148.55 |
| MARUTI
UDYOG |
414.00
|
417.85
|
406.55
|
410.10 |
| STATE
BANK OF INDIA |
659.00
|
665.80
|
653.30
|
655.20 |
| SATYAM
COMP |
424.95
|
431.90
|
420.35
|
422.75 |
| I
T C LTD |
1,374.90
|
1,397.50
|
1,370.00
|
1,374.00 |
| DR.REDDY'S
LABORATORIES LTD. |
749.10
|
758.90
|
745.15
|
748.50 |
| ASSOCIATED
CEMENT COMPANIES LT |
364.00
|
365.70
|
363.40
|
363.65 |
| ICICI
BANK L |
422.00
|
424.00
|
405.00
|
408.90 |
| CIPLA
LTD. |
261.35
|
262.00
|
251.60
|
252.55 |
| BAJAJ
AUTO |
966.00
|
1,070.00
|
966.00
|
1,038.85 |
| ONG
CORP LTD |
920.00
|
923.90
|
889.20
|
892.80 |
| BHEL |
814.80 |
814.85
|
787.10
|
790.25 |
| LARSEN
& TOUBRO LTD. |
1,030.00
|
1,040.00
|
994.10
|
1,003.80 |
| INFOSYS
TECHNOLOGIES LTD.-ORDI |
2,240.00
|
2,243.00
|
2,175.00
|
2,187.30 |
| BHARTI
TELE |
212.90
|
214.00
|
208.00
|
208.80 |
| TATA
POWER |
354.90
|
357.30
|
345.10
|
347.40 |
| GUJARAT
AMBUJA CEMENTS LTD. |
414.00
|
416.00
|
406.05
|
408.00 |
| TATA
IRON AND STEEL CO. LTD. |
393.10
|
394.90
|
384.60
|
385.75 |
| HINDUSTAN
PETROLEUM CORP. LTD. |
325.10
|
325.10
|
317.75
|
318.95 |
| RELIANCE*
|
571.00
|
577.00
|
563.50
|
565.45 |
| RANBAXY
LABORATORIES LTD. |
1,002.00
|
1,007.00
|
984.05
|
986.45 |
| RELIANCE
ENR* |
535.00
|
549.00
|
529.00
|
530.65 |
| GRASIM
INDUSTRIES LTD. |
1,230.00
|
1,233.00
|
1,215.05
|
1,224.80 |
| HINDUSTAN
LEVER LTD. |
134.00
|
134.60
|
132.00
|
132.50 |
| HINDALCO
IN |
1,380.00
|
1,380.00
|
1,359.90
|
1,364.65 |
| HOUSING
DEVELOPMENT FINANCE CO |
725.00
|
725.00
|
712.10
|
714.05 |
Last
Update : 7 April, 2005, 16:05PM
S&P
CNX Nifty
| Symbol |
Open |
High |
Low |
Last
Price |
| SATYAMCOMP
|
426.00
|
432.35
|
420.20
|
422.85 |
| RELIANCE
|
572.90
|
576.90
|
563.55
|
565.45 |
| INFOSYSTCH
|
2228.00
|
2244.70
|
2175.55
|
2188.30 |
| TISCO
|
394.00
|
394.00
|
385.00
|
385.85 |
| TATAMOTORS
|
415.00
|
425.00
|
413.00
|
422.05 |
| SBIN
|
654.40
|
686.00
|
653.05
|
655.05 |
| WIPRO
|
670.00
|
691.90
|
670.00
|
680.15 |
| ONGC
|
915.75
|
922.80
|
891.15
|
895.70 |
| MARUTI
|
405.05
|
416.90
|
405.05
|
410.45 |
| ITC
|
1374.80
|
1397.30
|
1366.00
|
1375.35 |
| SAIL
|
64.75
|
65.30
|
63.25
|
63.50 |
| PNB
|
392.00
|
398.50
|
388.00
|
388.25 |
| TCS
|
1441.00
|
1450.00
|
1422.00
|
1425.20 |
| HCLTECH
|
382.80
|
392.75
|
375.50
|
377.85 |
| RANBAXY
|
1005.00
|
1030.00
|
985.50
|
986.85 |
| M&M |
482.00 |
482.00
|
476.25
|
478.10 |
| LT
|
1050.00
|
1050.00
|
995.00
|
1003.80 |
| HINDLEVER
|
133.25
|
134.55
|
131.20
|
132.05 |
| ZEETELE
|
147.00
|
153.20
|
145.70
|
148.60 |
| ORIENTBANK
|
306.80
|
309.90
|
304.60
|
305.30 |
| CIPLA |
261.00 |
261.80
|
251.60
|
252.65 |
| BPCL
|
367.10
|
372.10
|
364.55
|
366.35 |
| BHEL
|
815.90
|
817.00
|
786.50
|
789.25 |
| REL
|
535.00
|
544.40
|
530.15
|
531.95 |
| HDFC
|
724.00
|
724.00
|
712.00
|
717.60 |
| BAJAJAUTO
|
1078.95
|
1078.95
|
1033.00
|
1037.65 |
| ACC
|
363.00
|
365.90
|
363.00
|
364.45 |
| HDFCBANK
|
560.00
|
566.95
|
558.50
|
563.15 |
| HINDPETRO
|
323.95
|
324.90
|
318.05
|
318.95 |
| ICICIBANK
|
425.50
|
425.50
|
405.00
|
408.70 |
| GAIL
|
219.00
|
219.00
|
215.15
|
216.15 |
| IPCL |
174.80 |
174.90
|
170.75
|
171.45 |
| NATIONALUM
|
175.00
|
176.50
|
173.00
|
173.85 |
| DRREDDY
|
748.00
|
758.00
|
746.60
|
749.30 |
| BHARTI
|
212.30
|
213.75
|
209.00
|
209.80 |
| GUJAMBCEM
|
412.05
|
416.00
|
407.00
|
408.65 |
| GRASIM
|
1216.00
|
1233.00
|
1215.00
|
1219.25 |
| TATACHEM
|
158.00
|
160.90
|
155.05
|
155.70 |
| TATAPOWER
|
354.00
|
356.60
|
344.75
|
346.80 |
| MTNL
|
118.80
|
118.85
|
117.00
|
117.65 |
| HEROHONDA
|
535.00
|
547.80
|
535.00
|
541.25 |
| SCI
|
158.25
|
159.00
|
153.25
|
154.10 |
| DABUR
|
113.85
|
114.10
|
110.00
|
113.35 |
| HINDALC0
|
1410.00
|
1429.90
|
1352.00
|
1365.25 |
| COLGATE
|
183.00
|
190.00
|
181.05
|
189.40 |
| SUNPHARMA
|
460.10
|
464.70
|
459.50
|
460.35 |
| VSNL
|
196.15
|
200.10
|
194.15
|
198.40 |
| ABB |
1175.00 |
1249.00
|
1165.00
|
1230.00 |
| TATATEA
|
534.00
|
536.95
|
528.50
|
529.40 |
| GLAXO |
707.00 |
713.75
|
700.00
|
706.60 |
Last
Update : 7 April, 2005, 16:04PM
| 
