Nifty Unlikely To See 6200 Again This Year !

Sensex ends 109 pts down; midcaps battered out of shape

Sensex provisionally down 0.44%

Market Updates : 

Forget where the benchmark indices Nifty and Sensex closed today; they won't tell you anything about the carnage witnessed in mid and small cap stocks. 

Broader indices took huge beating as compared to benchmarks with the BSE Midcap and Smallcap indices losing around 2%, led by fund based selling in infrastructure stocks.

The 30-share BSE Sensex fell 108.69 points, to close at 16,730.94 and the 50-share NSE Nifty lost 37.15 points, to end at 5,035.80

Anil Dhirubhai Ambani group's stocks, metal, infrastructure, realty, private financial and select PSU companies' shares saw selling pressure.

Reliance Power, Reliance Communications, Reliance Infrastructure and Reliance Capital were down 6-8%.

DLF plunged nearly 6% as CCI imposed a penalty of around Rs 600 crore on the company for abuse of dominance.

Other largecaps like ONGC, HDFC, HDFC Bank, SAIL, Hindalco, JSPL, Sesa Goa, IDFC and GAIL lost 2-5%.

However, buying in TCS, Bharti Airtel, BHEL, ITC and Infosys has capped the downside; these stocks gained 1-2.8%.

Midcaps and smallcaps butchered very badly today. IVRCL tumbled over 18% on disappointing results; company reported a fall of 86% (YoY) in profits for the first quarter of FY12 to Rs 4 crore.

HDIL and Punj Lloyd were down 11%.

August (2011) : 
Open : 5544.45
High : 5557.10
Low : 4951.00
Close: 5027.70
Avg. : 5270.06

Yearly (2011) : 
Open : 6202.10
High : 6209.90
Low : 4951.00
Close: 5027.70
Avg. : 5597.68

NIFTY FUTURE 

R5 : 5114
R4 : 5095
R3 : 5075
R2 : 5057
R1 : 5038

CMP: 5027.70

S1 : 5016
S2 : 5000
S3 : 4982
S4 : 4968
S5 : 4951

Jubilant FoodWorks leads gainers in 'A' group.

Dish TV India, TCS, Bhel and Financial Technologies (India) are among the other gainers.

Indiabulls Real, Anant Raj Industries, Bajaj Hindusthan, MTNL, Balrampur Chini, Jet Airways, Shipping Corp, Rashtriya Chemical, Aurobindo Pharma, India Cements, BEML, IRB Infra, Adani Power, Shree Cements and Educomp Solutions plunged 5-8%.

Food service company Jubilant FoodWorks spurted 6.47% to Rs 906.85. The stock topped the gainers in the BSE's 'A' group.

Direct-to-home television distribution company Dish TV India rose 3.20% to Rs 85.45. The stock was second biggest gainer in 'A' group.

India's largest IT company by sales TCS jumped 2.40% to Rs 974.05. The stock was third biggest gainer in 'A' group.

India's largest power equipment maker by sales Bhel galloped 2.30% to Rs 1767.70. The stock was fourth biggest gainer in 'A' group.

Financial software maker Financial Technologies (India) rose 2.15% to Rs 734.50. The stock was fifth biggest gainer in 'A' group

BSE clocked turnover of Rs 2095 crore lower than Rs 2691.01 crore on Friday, 12 August 2011.

The market breadth, indicating the overall health of the market, was weak after being positive upto early afternoon trade. On BSE, 2007 shares declined while 844 shares gained. A total of 93 shares remained unchanged.

Among the 30-share Sensex pack, 22 fell and the rest rose. Bhel, Tata Motors and ITC rose by between 0.86% to 2.3%.

Index heavyweight Reliance Industries (RIL) fell 0.24% to Rs 759, off the day's high of Rs 771.80. The stock hit low of Rs 755. The stock had hit a 52-week low of Rs 754.25 inintraday trade on Tuesday, 9 August 2011. RIL on Tuesday, 9 August 2011, said it has received the government's formal approval to sell a 30% stake in 21 oil and gas production sharing contracts to BP PLC. "Following the approval, Reliance and BP will work together to conclude the deal expeditiously," RIL said in a statement.

Sugar stocks tanked on profit taking. Balrampur Chini, Bajaj Hindusthan and Shree Renuka Sugars shed by between 7.79% to 8.76%. The Centre has reportedly decided to allow export of an additional five lakh tonnes (lt) on sugar under open general license (OGL) for the current 2010-11 season (October-September). This is over and above the already permitted 10 lt, cleared through two equal instalments on April 19 and June 28. The go-ahead for export of an additional five lt quantity was given at a meeting of the Empowered Group of Ministers (EGoM) under the Finance Minister, Mr Pranab Mukherjee, here on Friday.

Cals Refineries clocked highest volume of 3.65 crore shares on BSE. K S Oils (1.98 crore shares), SpiceJet (93.59 lakh shares), Inventure Growth Securities (67.42 lakh shares) and L& Finance Holdings (65.57 lakh shares) were the other volume toppers in that order.

Inventure Growth Securities clocked highest turnover of Rs 156.04 crore on BSE. State Bank of India (Rs 154.03 crore), Tata Steel (Rs 62.47 crore), Jubilant Foodworks (Rs 46 crore) and DLF (Rs 39.99 crore) were the other turnover toppers in that order.

The wholesale price index (WPI) for the month of July 2011 came in at 9.22% versus 9.44% seen in the month of June 2011.Primary articles stood at 11.3% versus 12.22% seen in the previous month. Fuel inflation came in at 12.04% versus 12.85% seen in the previous month. Manufacturing inflation came in at 7.49% versus 7.43% seen in the previous month. May WPI revised to 9.56% versus 9.06%

Industrial production grew 8.8% in June 2011 from a year earlier, helped by strong growth in manufacturing output, data released by the government on Friday, 12 August 2011, showed. The reading was sharply higher than the upwardly revised 5.95% industrial output growth in May 2011. The June reading also beat market expectations by a wide margin.

Manufacturing output, which has a 75.5% weight in the index, rose 10% on year in June, compared with a revised 6.1% rise in May. Mining output grew 0.6%, compared with a revised 1.3% rise in May. Industrial output growth data in June 2011 is encouraging, Finance Minister Pranab Mukherjee told reporters on Friday, 12 August 2011.


Note : Data From Capital Market And Money Control !

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