Market breadth remains positive
Srujani Panda / 13 Oct 2011
As mentioned in our morning update markets opened 100 points higher following positive global cues on reports that Slovakia will eventually vote in favor of the EFSF.
Technology, banking, telecom, FMCG and select metal stocks were on buyers' radar. However, the market came off a bit from day's high due to sell-off in heavyweight Reliance Industries.
Among the SENSEX stocks Tata Motors shot up 2.5%. TCS, Infosys, ICICI Bank, SBI, ONGC, Tata Steel, Sterlite Industries, Reliance Communications, SAIL, IDFC, Wipro, HUL and ITC were witnessing buying interest. However, Sesa Goa, Maruti Suzuki, Ambuja Cements, Reliance Industries and JSPL were down 0.5-1%.
DCB shot up 8% as its Q2FY12 profit was more than doubled to Rs 13.32 crore from Rs 4.8 crore (YoY). Bajaj Corp jumped 3%. Company's Q2FY12 profit went up 93% to Rs 29 crore from Rs 15 crore (YoY). Hathway Cable and Den Networks were up 3-6%. Crompton Greaves, Patel Engg, Jet Airways, Kingfisher Airlines and KRBL gained 1.5-3%. However, Camlin lost 3%. Jubilant Foodworks fell 2.5% on profit booking.
The market breadth, indicating the overall health of the market, is positive. On BSE, 1289 shares rose and 774 shares fell. A total of 88 shares remained unchanged.
In conclusion, we expect the market to remain volatile for the day and advice readers to wait and watch for the European markets to open as they may provide some vital cues on the desired direction of the market trend. Nevertheless we shall keep updating you regularly through our market commentary.
| Benchmark Indices | ||
| Index | Rate | % Change |
| Hang Seng | 18323.8 | -0.03 |
| Nikkei | 8738.9 | 0.00 |
| Shanghai | 2420 | 0.00 |
| SENSEX | 16688.47 | -1.59 |
| NIFTY | 5021.95 | -1.52 |
Technology, banking, telecom, FMCG and select metal stocks were on buyers' radar. However, the market came off a bit from day's high due to sell-off in heavyweight Reliance Industries.
Among the SENSEX stocks Tata Motors shot up 2.5%. TCS, Infosys, ICICI Bank, SBI, ONGC, Tata Steel, Sterlite Industries, Reliance Communications, SAIL, IDFC, Wipro, HUL and ITC were witnessing buying interest. However, Sesa Goa, Maruti Suzuki, Ambuja Cements, Reliance Industries and JSPL were down 0.5-1%.
DCB shot up 8% as its Q2FY12 profit was more than doubled to Rs 13.32 crore from Rs 4.8 crore (YoY). Bajaj Corp jumped 3%. Company's Q2FY12 profit went up 93% to Rs 29 crore from Rs 15 crore (YoY). Hathway Cable and Den Networks were up 3-6%. Crompton Greaves, Patel Engg, Jet Airways, Kingfisher Airlines and KRBL gained 1.5-3%. However, Camlin lost 3%. Jubilant Foodworks fell 2.5% on profit booking.
The market breadth, indicating the overall health of the market, is positive. On BSE, 1289 shares rose and 774 shares fell. A total of 88 shares remained unchanged.
In conclusion, we expect the market to remain volatile for the day and advice readers to wait and watch for the European markets to open as they may provide some vital cues on the desired direction of the market trend. Nevertheless we shall keep updating you regularly through our market commentary.
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