Indian equity benchmarks were trading with moderate gains amid volatility supported by oil & gas, private financial, realty, FMCG, Anil Dhirubhai Ambani Group (ADAG) and select auto companies' shares.
The Sensex could not see upmove like Wall Street because the market already factored in that rally in yesterday's trade. The US equity markets rallied 1.6-2.2% yesterday post President Barack Obama indicated a bipartisan group of six Senators agreed to a plan to tame annual USD 1.4 trillion budget deficits.
The 30-share BSE Sensex was trading at 18,691, up 37 points and the 50-share NSE Niftyrose 11 points to 5,624.
Laurence Balanco of CLSA feels that a sustainable upside is likely only above the 200-day moving average of 5760 on the Nifty. "Price action continues to drift between major support level for Nifty at 5,200 and resistance at 6,300," he said.
Heavyweights ONGC, Reliance Industries, ITC, HDFC, L&T and HDFC Bank were supporting the market.
However, Wipro, TCS, NTPC, SBI, BHEL, Hindalco and Bharti Airtel were on sellers' radar.
Crompton Greaves, Atlas Cycles, TTK Healthcare, Hercules Hoists, Rushil Decor and Wipro were most active shares on exchanges.
Midcaps like Hotel Leela, Simplex Infra, Page Industries, Blue Dart and EIH rallied 4-7% while Shree Global, GTL, Zydus Wellness, SKF India and Sujana Towers fell 2.5-5%.
Smallcaps like Ruby Mills shot up 20%. Jindal Worldwide, TTK Healthcare, Splash Media and NIIT Tech were up 9-12% while Sterling Holiday, SV Electricals, Patel Engg, Vindhya Telelink and Atul slipped 4-6%.
Sensex gains amid choppy trade; oil & gas, realty lead
The benchmark Sensex gained over 100 points in opening trade on Wednesday following strong global cues post Barack Obama talks on US debt rating.
There was an optimism globally that US lawmakers will reach an agreement to cut the budget deficit of USD 1.4 trillion. Financial companies' shares were on buyers' radar.
At 9:18 hours IST, the 30-share BSE Sensexwas trading at 18,756, up 103 points and the 50-share NSE Nifty rose 29 points to 5,642 amid a choppy trade.
Reliance Communications, Dr Reddy's Labs, DLF, Bajaj Auto, HDFC, HDFC Bank, IDFC, ICICI Bank, HUL, Reliance Industries, ONGC, SBI and BHEL were leading the markets higher.
Wipro declined over 1.5% as its Q1 consolidated net profit went down 2.9% at Rs 1,335 crore compared to previous quarter.
Market breadth was quite strong - about 609 shares advanced as against 155 shares declined on National Stock Exchange. The CNX Midcap went up 33 points to 8,245.
Crompton Greaves plunged 7% on disappointing results.
Patel Engg fell 5%. Cadila Healthcare slipped 4%.
However, Cox & Kings jumped over 3%. KPIT Cummins, RCF, Subex and NIIT Tech were up over 2%.
Petronet LNG and Sun TV moved up about 1%. TTK Healthcare shot up 5%.
Global cues
Global markets gained after Barack Obama and Timothy Geithner allays fears on US debt rating.
Asian markets like Nikkei, Kospi and Taiwan were up 1-1.5%. Straits Times rose 0.5%. Shanghai and Hang Seng were flat.
US President Barack Obama indicated a bipartisan group of six Senators (popularly known as “gang of six”) has agreed to a plan that features tough spending cuts and a revenue component, to tame annual USD 1.4 trillion budget deficits.
Barack Obama and Congress face a fast-approaching August 2 deadline for raising the USD 14.3 trillion limit on US borrowing authority.
The Dow Jones Industrial Average ended up 202 points at 12,587. NASDAQ Composite was up 61 points at 2,826 and S&P 500 Index jumped 21 points at 1,327.
Commodities
August gold contract was down 0.3% to USD 1597.40 per ounce; fell further in after hours post Obama debt talks – hit low of USD 1585.6 an ounce
September silver contract went down 0.7% to USD 40.65 per ounce
August crude oil was up 1.6% at USD 97.50 per barrel
August natural gas was down 0.4% at USD 4.53 per MMBtu
F&O cues:
Total stock Futures Open Int add 3.29cr shares
Nifty Futures Open Int shed 1.86 lk shrs
Premium at 10.75 pts vs premium at 5.7pts
Nifty Open Int PCR at 1.25 vs 1.20
Total Put add 33.13 lk shrs in Open Int
Total Call add 2.25 lk shrs in Open Int
Nifty 5600 Put adds 8.8 lk shrs in Open Int
Nifty 5500 Put adds 8.33 lk shrs in Open Int
Nifty 5800 Call adds 7.03 lk shrs in Open Int
Nifty 5700 Put adds 5.7 lk shrs in Open Int
Nifty Aug 5400 Put adds 3.24 lk shrs in Open Int
-Nifty 5600 Call sheds 8.02 lk shrs in Open Int
Nifty 5500 Call sheds 3.98 lk shrs in Open Int
Nifty 5400 Call sheds 3.6 lk shrs in Open Int
Nifty 5400 Put sheds 2 lk shrs in Open Int
The Sensex could not see upmove like Wall Street because the market already factored in that rally in yesterday's trade. The US equity markets rallied 1.6-2.2% yesterday post President Barack Obama indicated a bipartisan group of six Senators agreed to a plan to tame annual USD 1.4 trillion budget deficits.
The 30-share BSE Sensex was trading at 18,691, up 37 points and the 50-share NSE Niftyrose 11 points to 5,624.
Laurence Balanco of CLSA feels that a sustainable upside is likely only above the 200-day moving average of 5760 on the Nifty. "Price action continues to drift between major support level for Nifty at 5,200 and resistance at 6,300," he said.
Heavyweights ONGC, Reliance Industries, ITC, HDFC, L&T and HDFC Bank were supporting the market.
However, Wipro, TCS, NTPC, SBI, BHEL, Hindalco and Bharti Airtel were on sellers' radar.
Crompton Greaves, Atlas Cycles, TTK Healthcare, Hercules Hoists, Rushil Decor and Wipro were most active shares on exchanges.
Midcaps like Hotel Leela, Simplex Infra, Page Industries, Blue Dart and EIH rallied 4-7% while Shree Global, GTL, Zydus Wellness, SKF India and Sujana Towers fell 2.5-5%.
Smallcaps like Ruby Mills shot up 20%. Jindal Worldwide, TTK Healthcare, Splash Media and NIIT Tech were up 9-12% while Sterling Holiday, SV Electricals, Patel Engg, Vindhya Telelink and Atul slipped 4-6%.
Sensex gains amid choppy trade; oil & gas, realty lead
The benchmark Sensex gained over 100 points in opening trade on Wednesday following strong global cues post Barack Obama talks on US debt rating.
There was an optimism globally that US lawmakers will reach an agreement to cut the budget deficit of USD 1.4 trillion. Financial companies' shares were on buyers' radar.
At 9:18 hours IST, the 30-share BSE Sensexwas trading at 18,756, up 103 points and the 50-share NSE Nifty rose 29 points to 5,642 amid a choppy trade.
Reliance Communications, Dr Reddy's Labs, DLF, Bajaj Auto, HDFC, HDFC Bank, IDFC, ICICI Bank, HUL, Reliance Industries, ONGC, SBI and BHEL were leading the markets higher.
Wipro declined over 1.5% as its Q1 consolidated net profit went down 2.9% at Rs 1,335 crore compared to previous quarter.
Market breadth was quite strong - about 609 shares advanced as against 155 shares declined on National Stock Exchange. The CNX Midcap went up 33 points to 8,245.
Crompton Greaves plunged 7% on disappointing results.
Patel Engg fell 5%. Cadila Healthcare slipped 4%.
However, Cox & Kings jumped over 3%. KPIT Cummins, RCF, Subex and NIIT Tech were up over 2%.
Petronet LNG and Sun TV moved up about 1%. TTK Healthcare shot up 5%.
Global markets gained after Barack Obama and Timothy Geithner allays fears on US debt rating.
Asian markets like Nikkei, Kospi and Taiwan were up 1-1.5%. Straits Times rose 0.5%. Shanghai and Hang Seng were flat.
US President Barack Obama indicated a bipartisan group of six Senators (popularly known as “gang of six”) has agreed to a plan that features tough spending cuts and a revenue component, to tame annual USD 1.4 trillion budget deficits.
Barack Obama and Congress face a fast-approaching August 2 deadline for raising the USD 14.3 trillion limit on US borrowing authority.
The Dow Jones Industrial Average ended up 202 points at 12,587. NASDAQ Composite was up 61 points at 2,826 and S&P 500 Index jumped 21 points at 1,327.
Commodities
August gold contract was down 0.3% to USD 1597.40 per ounce; fell further in after hours post Obama debt talks – hit low of USD 1585.6 an ounce
September silver contract went down 0.7% to USD 40.65 per ounce
August crude oil was up 1.6% at USD 97.50 per barrel
August natural gas was down 0.4% at USD 4.53 per MMBtu
F&O cues:
Total stock Futures Open Int add 3.29cr shares
Nifty Futures Open Int shed 1.86 lk shrs
Premium at 10.75 pts vs premium at 5.7pts
Nifty Open Int PCR at 1.25 vs 1.20
Total Put add 33.13 lk shrs in Open Int
Total Call add 2.25 lk shrs in Open Int
Nifty 5600 Put adds 8.8 lk shrs in Open Int
Nifty 5500 Put adds 8.33 lk shrs in Open Int
Nifty 5800 Call adds 7.03 lk shrs in Open Int
Nifty 5700 Put adds 5.7 lk shrs in Open Int
Nifty Aug 5400 Put adds 3.24 lk shrs in Open Int
-Nifty 5600 Call sheds 8.02 lk shrs in Open Int
Nifty 5500 Call sheds 3.98 lk shrs in Open Int
Nifty 5400 Call sheds 3.6 lk shrs in Open Int
Nifty 5400 Put sheds 2 lk shrs in Open Int
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