|
The indices surged right from the opening and maintained the trend till early
in the afternoon. In the process, both the Sensex and Nifty broke all records
and touched all time highs.
Early
afternoon saw some volatility as selling emerged at higher levels. The indices
however managed to close well above their previous all time closing highs.
Good
buying by FII's over the last few days has given a lot of confidence to traders.
There are reports that most FII's are receiving excellent response to India
dedicated funds launched in Japan. Japanese investors are reportedly diverting
their attention from China to India.
Sensex
closed at 7145, up 69 points and the Nifty at 2187, up 17 points from yesterday's
close. Nifty June futures discount to the spot narrowed marginally to 21 points
from yesterday's 22 points.
Combined
market volumes rose to a high Rs25,000 crore for the day, a level not seen
since March of this year when the markets made its previous highs.
Among
Nifty stocks, Zee Tele, M&M and HDFC were the major percentage gainers
while HDFC Bank, SAIL and MTNL were the major losers.
US
markets had a very lacklustre day yesterday as the indices traded flat for
most of the day. All major indices Dow, S&P 500 and NASDAQ closed with
marginal losses.
Crude
oil futures for July delivery declined on expectations of a rise in US crude
inventories. The weekly inventory data is expected today. Profit booking by
funds added to the weakness. The commodity closed on the NYMEX at $58.9, down
close to a per cent.
Most
Indian ADR's closed yesterday without much change from the previous day. Tata
Motors, which closed with gains of close to 2 per cent, was the only significant
gainer. Infosys lost over a per cent.
HDFC
counter saw a large block deal very early in the morning. 1.2 crore shares
or close to 5 per cent stake changed hands at a price of Rs842 on the BSE.
The deal is worth over Rs1,000 crore. According
to exchange filings, Standard Life has sold part of its stake in HDFC. The
proceeds will be used to increase the stake of Standard Life in the insurance
JV, HDFC Standard Life. After
opening weak, HDFC surged over 3 per cent to close at a new life time high. PTI
has reported that Indian Oil is in talks to buy a stake in Singapore Petroleum.
ONGC
maintained its strength of last couple of days closing with gains of well
over a per cent. The stock is surging as the record crude prices are expected
to add significantly to the company's profits during the current year. Cipla
continued its surge from yesterday, closing well over 2 per cent higher. The
stock had gained over 7 per cent yesterday on rumours that Israeli generic
major Teva would acquire a stake in Cipla. The company denied any plans for
a stake sale. TCS
gained close to 3 per cent after reports that the company will add over 13,000
employees during the current financial year. Since TCS does not have any significant
BPO operations, addition of such a large number is seen by most analysts as
a sign of robust business growth. The stock closed with gains of 2 per cent.
Full
year profits of MTNL declined over 18 per cent for the period ended March
2005. Revenues declined by around 9 per cent. The company has been struggling
to achieve revenue and profit growth as its fixed line subscriber base has
shrunk for the past couple of years. PSU
defence electronics major Bharat Electronics reported a 15 per cent increase
in total revenues for the year ended March 2005. Profits have grown by over
40 per cent. Reliance
group shares had a mixed day. While parent company Reliance Industries gained
over a per cent to post a new life time high, Reliance Energy and IPCL closed
with losses. Reliance Capital exhibited fair amount of volatility and closed
marginally in the red. Auto
stocks had a good day with most of them closing with good gains. The moderate
hike in fuel prices is not expected to affect auto sales much. Mahnidra
& Mahindra led the pack with gains of over 3 per cent. Tata Motors, Maruti
and Ashok Leyland all closed with gains of 1 to 2 per cent. Mid-Cap
Action After
opening with decent gains, Mid-cap stocks declined rapidly for the second
straight day. By afternoon the mid-cap index was trading in the red, but recovered
to close marginally in the positive. CNX Mid-Cap 200 index closed at 2995,
a gain of 3 points. Shree
Ganesh Forgings made its debut on the stock exchanges today after its recent
IPO. Issued at Rs30 per share, the stock opened at Rs43 on the BSE and surged
to an intra-day high of Rs57. Traders
were very active in the stock after the management said the company would
grow its top line by over 60 per cent and profits would double in the current
year. The stock closed at Rs43.7 on the BSE. Praj
Industries was locked in the 5 per cent upper circuit after the company announced
that it has acquired worldwide license rights for ethanol fuel production
technology. The license is from a US based company and is on a non-exclusive
basis. Praj
is a market leader in design and installation of ethanol plants and has a
fair share of the global market as well. The company has been performing very
well over the past few years. The company had announced a bonus issue and
stock split recently. Glenmark
Pharma saw a large block deal of over 40 lakh shares later in the day. The
stock closed with gains of over 7 per cent. Geometric
Software announced a stock split in the ratio of 5 shares of Rs2 each for
every Rs10 share. The stock gained close to 3 per cent after the announcement. Deccan
Chronicle gained over 5 per cent earlier in the day after the company announced
a hike in advertisement rates by as much as 5 per cent. The stock could not
hold on to its gains and closed around 2 per cent higher. Deccan
Chronicle has also decided to postpone the overseas issue which was announced
after the government had included FII investments also in the overall foreign
investment limit of 26 per cent in media companies. Aurobindo
Pharma opened with gains after reports that the US FDA has given tentative
approval for the company's generic anti-HIV drugs.  GESCO
Corporation, Novopan and Shreyas Shipping were among the best performing stocks
among mid-caps.
JSW
Holdings, Astra IDL and Bank of Maharashtra were among the significant mid-cap
losers.
*Disclaimer:
The author does not 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
|
7,145.34
|
+
68.82 |
| NIFTY
|
2,187.35 |
+
17.35 |
Last
Update : 22 June, 2005, 16:13 PM
Market
Counters
Figures in Rupees
BSE
30
| Scrip
Name |
Open |
High |
Low |
Last
Price |
| HOUSING
DEVELOPMENT FINANCE CO |
846.00
|
879.00
|
841.00
|
871.75 |
| LARSEN
& TOUBRO LTD. |
1,108.00
|
1,140.00
|
1,107.50
|
1,137.00 |
| MARUTI
UDYOG |
454.00
|
473.00
|
454.00
|
467.95 |
| CIPLA
LTD. |
305.00
|
314.00
|
305.00
|
312.60 |
| TCS
LTD |
1,306.00
|
1,337.40
|
1,306.00
|
1,333.95 |
| I
T C LTD |
1,547.00
|
1,581.95
|
1,545.00
|
1,579.25 |
| GUJARAT
AMBUJA CEMENTS LTD. |
63.25
|
64.40
|
63.10
|
64.15 |
| TATA
IRON AND STEEL CO. LTD. |
358.90
|
371.00
|
355.75
|
363.80 |
| BAJAJ
AUTO |
1,245.00
|
1,279.00
|
1,245.00
|
1,270.00 |
| TATA
MOTORS |
419.10
|
430.50
|
419.00
|
425.45 |
| NTPC
LTD |
83.05
|
84.90
|
82.75
|
84.20 |
| ONG
CORP LTD |
949.70
|
969.00
|
946.50
|
959.20 |
| RELIANCE*
|
646.00
|
659.90
|
640.50
|
655.50 |
| ASSOCIATED
CEMENT COMPANIES LT |
379.50
|
387.00
|
378.20
|
382.90 |
| HINDUSTAN
LEVER LTD. |
154.00
|
155.95
|
152.60
|
154.20 |
| DR.REDDY'S
LABORATORIES LTD. |
724.00
|
734.00
|
722.15
|
729.35 |
| TATA
POWER |
377.00
|
382.80
|
376.00
|
378.25 |
| SATYAM
COMP |
508.00
|
517.45
|
502.50
|
511.55 |
| HEROHONDA
M |
551.00
|
561.50
|
548.00
|
554.10 |
| ICICI
BANK L |
420.00
|
424.35
|
415.20
|
420.60 |
| HDFC
BANK LT |
600.00
|
603.75
|
585.55
|
585.55 |
| BHEL
|
879.00
|
879.00
|
850.35
|
853.55 |
| HINDALCO
IN |
1,193.00
|
1,199.00
|
1,172.40
|
1,180.80 |
| STATE
BANK OF INDIA |
666.55
|
675.60
|
658.40
|
661.05 |
| RELIANCE
ENR |
656.55
|
662.75
|
647.20
|
652.20 |
| RANBAXY
LABORATORIES LTD. |
1,085.35
|
1,092.00
|
1,070.00
|
1,079.90 |
| INFOSYS
TECHNOLOGIES LTD.-ORDI |
2,388.00
|
2,413.00
|
2,373.15
|
2,390.70 |
| BHARTI
TELEVENTURES |
|
|
|
238.10 |
| GRASIM
INDUSTRIES LIMITED |
|
|
|
1,100.40 |
| WIPRO
LTD |
|
|
|
758.85 |
Last
Update : 22 June, 2005, 16:02PM
S&P
CNX Nifty
| Symbol |
Open |
High |
Low |
Last
Price |
| RELIANCE
|
643.00
|
660.00
|
642.00
|
654.55 |
| TISCO
|
359.00
|
369.90
|
355.80
|
364.05 |
| SATYAMCOMP
|
506.00
|
519.00
|
502.00
|
511.30 |
| INFOSYSTCH
|
2355.35
|
2413.95
|
2355.35
|
2389.05 |
| TCS
|
1309.00
|
1339.00
|
1309.00
|
1333.35 |
| ONGC
|
950.25
|
968.70
|
946.05
|
958.75 |
| SBIN
|
671.00
|
675.95
|
658.05
|
661.25 |
| TATAMOTORS
|
420.00
|
430.90
|
419.00
|
425.50 |
| MARUTI
|
455.00
|
468.00
|
453.10
|
465.75 |
| CIPLA
|
303.00
|
314.00
|
303.00
|
312.45 |
| SAIL
|
53.70
|
54.50
|
52.25
|
52.60 |
| REL
|
658.00
|
662.50
|
647.60
|
652.30 |
| WIPRO
|
756.00
|
765.00
|
751.55
|
759.20 |
| ITC
|
1545.00
|
1579.00
|
1541.10
|
1574.75 |
| RANBAXY
|
1083.05
|
1093.00
|
1070.00
|
1079.85 |
| HINDLEVER
|
156.00
|
156.00
|
152.50
|
154.40 |
| HDFC
|
844.00
|
879.00
|
844.00
|
872.60 |
| M&M
|
569.00
|
587.00
|
555.00
|
581.80 |
| IPCL
|
169.95
|
170.80
|
165.55
|
166.45 |
| LT
|
1109.00
|
1140.00
|
1107.00
|
1134.65 |
| ZEETELE
|
144.50
|
152.50
|
144.50
|
150.90 |
| PNB
|
388.90
|
388.90
|
379.00
|
380.95 |
| BHARTI
|
238.00
|
240.25
|
235.05
|
238.40 |
| HCLTECH
|
395.05
|
401.90
|
385.50
|
392.85 |
| ACC
|
378.50
|
390.85
|
378.10
|
382.85 |
| BAJAJAUTO
|
1246.10
|
1280.00
|
1246.00
|
1270.40 |
| GUJAMBCEM
|
63.45
|
64.40
|
63.10
|
64.10 |
| ICICIBANK
|
420.00
|
424.50
|
415.30
|
420.70 |
| HEROHONDA
|
551.20
|
561.50
|
548.20
|
554.90 |
| MTNL
|
121.00
|
122.95
|
116.80
|
117.45 |
| HDFCBANK
|
603.90
|
603.90
|
585.05
|
590.05 |
| TATAPOWER
|
377.00
|
381.80
|
377.00
|
378.85 |
| BHEL
|
867.55
|
875.00
|
852.00
|
853.55 |
| BPCL
|
365.00
|
372.00
|
364.10
|
369.15 |
| HINDPETRO
|
317.10
|
318.90
|
314.50
|
316.65 |
| ORIENTBANK
|
259.50
|
264.10
|
256.10
|
257.25 |
| TATATEA
|
582.00
|
594.00
|
580.05
|
587.70 |
| DRREDDY
|
722.25
|
735.35
|
722.15
|
729.80 |
| GAIL
|
219.15
|
221.50
|
218.00
|
220.05 |
| HINDALC0
|
1171.00
|
1200.00
|
1171.00
|
1182.30 |
| GRASIM
|
1105.00
|
1109.00
|
1095.50
|
1100.70 |
| VSNL
|
233.00
|
235.40
|
231.00
|
232.95 |
| GLAXO
|
780.00
|
795.50
|
780.00
|
792.30 |
| TATACHEM
|
172.85
|
173.90
|
169.15
|
169.80 |
| COLGATE
|
233.00
|
235.90
|
229.20
|
230.10 |
| SCI
|
139.90
|
140.90
|
138.00
|
138.60 |
| SUNPHARMA
|
565.00
|
569.95
|
548.65
|
561.90 |
| DABUR
|
129.50
|
131.80
|
127.50
|
130.05 |
| NATIONALUM
|
144.05
|
146.60
|
143.50
|
143.85 |
| ABB
|
1303.00
|
1309.90
|
1294.00
|
1301.10 |
Last
Update : 22 June, 2005, 16:00PM
| 
