Sensex trading on a flat note
Srujani Panda / 13 Oct 2011
The Indian benchmark market is trading very flat and in a narrow zone and has given up its morning trades. The benchmark is getting support from Banking, Realty and IT stocks.
Inflation in the Primary Articles group fell to 10.60 per cent in the week under review, from 10.84 per cent in the week ended September. 24. Food Articles inflation fell to 9.32 per cent in the week ended October 1 versus 9.41 per cent in the preceding week. This indicates that the headline Sept inflation which is expected tomorrow may not show any major signs of improvement and would pretty much be in line with market estimates of 9.7 per cent.
Inflation in the Primary Articles group fell to 10.60 per cent in the week under review, from 10.84 per cent in the week ended September. 24. Food Articles inflation fell to 9.32 per cent in the week ended October 1 versus 9.41 per cent in the preceding week. This indicates that the headline Sept inflation which is expected tomorrow may not show any major signs of improvement and would pretty much be in line with market estimates of 9.7 per cent.
| Benchmark Indices | ||
| Index | Rate | % Change |
| FTSE | 5451.83 | 0.18 |
| DAX | 6024.27 | 0.5 |
| CAC | 3248.92 | 0.59 |
| Hang Seng | 18754.46 | 2.32 |
| Nikkei | 8823.25 | 0.97 |
| Shanghai | 2438.79 | 0.78 |
| SENSEX | 17042.96 | 0.5 |
| NIFTY | 5125.1 | 0.5 |
Meanwhile, European stock markets opened mixed as most of the sector slipped on profit taking. Other Asian shares are trading in green.
Back Home on the sectoral front, BSE Bankex and Realty are up 1.5 per cent. IT continues to be trading higher a per cent after yesterdays Infosys good numbers. Healthcare and FMCG indices were trading lower.
Stock specific movements include Banking heavyweights ICICI and SBI which are trading higher 2.6 per cent. IT stocks like Infosys, TCS and Wipro are also trading very firmly. DLF is up 2 per cent at Rs 241.
On the other hand, Coal India was among the top loser, down 2 per cent to Rs 331. After the coal ministry is said to have agreed to the power ministry’s demand to divert a part of the coal currently being sold through e-auction to the power sector. Among the metals pack Jindal Steel and Hindalco both were down 2 per cent. Other scrip like Maruti, Sun Pharma and Tata Power Bharti Airtel were trading down one per cent.
Praj industries posted a good Q2FY12 numbers. Its top-line increased by 111.61 per cent to Rs 228.90 crore and bottom line increased by 130.67 per cent to Rs 20.53 crore on YoY basis. The scrip is currently trading higher 2.17 per cent at Rs 82.25.
The market breadth, indicating the overall health of the market, is positive. On BSE, 1493 shares rose and 1097 shares fell. A total of 118 shares remained unchanged.
In conclusion, we expect the markets to behave in a volatile manner towards as there are some speculative concerns looming over the headline inflation data to be announced on 14th Oct 2011 which shall provide cues on the RBI’s policy stand.
Back Home on the sectoral front, BSE Bankex and Realty are up 1.5 per cent. IT continues to be trading higher a per cent after yesterdays Infosys good numbers. Healthcare and FMCG indices were trading lower.
Stock specific movements include Banking heavyweights ICICI and SBI which are trading higher 2.6 per cent. IT stocks like Infosys, TCS and Wipro are also trading very firmly. DLF is up 2 per cent at Rs 241.
On the other hand, Coal India was among the top loser, down 2 per cent to Rs 331. After the coal ministry is said to have agreed to the power ministry’s demand to divert a part of the coal currently being sold through e-auction to the power sector. Among the metals pack Jindal Steel and Hindalco both were down 2 per cent. Other scrip like Maruti, Sun Pharma and Tata Power Bharti Airtel were trading down one per cent.
Praj industries posted a good Q2FY12 numbers. Its top-line increased by 111.61 per cent to Rs 228.90 crore and bottom line increased by 130.67 per cent to Rs 20.53 crore on YoY basis. The scrip is currently trading higher 2.17 per cent at Rs 82.25.
The market breadth, indicating the overall health of the market, is positive. On BSE, 1493 shares rose and 1097 shares fell. A total of 118 shares remained unchanged.
In conclusion, we expect the markets to behave in a volatile manner towards as there are some speculative concerns looming over the headline inflation data to be announced on 14th Oct 2011 which shall provide cues on the RBI’s policy stand.
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