EU meet & Q2 results - The next trigger for the markets
Srujani Panda / 19 Oct 2011
Today Sensex rebounded quite sharply and closed by adding more than 300 points. The rally was led by broad based buying and positive global cues from Europe and other Asian stocks which gained today after reports that European countries may have reached a deal on expanding the region’s rescue fund.
The BSE Realty, Bank, Oil & Gas and Capital Goods indices climbed 2-3%. Auto and Metal rose 1.8% each and helped the benchmarks to wipe out all of yesterday's loss.
Among the 30 share sensex Hero Motocorp was the top gainer throughout the session, rallying 4%. India's largest two-wheeler maker's net profit rose 19.4% to Rs 604 crore. The company said margins bottomed out in the first quarter. Also DLF moved up 4% as sources claimed that company has received 3 binding bids for Amanresorts
HDFC Bank today gained 3% post second quarter numbers. As it reported a rise of 31.5% in net profit to Rs 1,199 crore. The advances grew at 25.6 per cent. While gross nonperforming assets declined by 16 bps to 1 per cent.
Jindal Steel & Power was up today by 2.68 per cent after the announcement of the Q2 results. The stock went up because of better sales growth posted by the company during the quarter.
Heavyweights Reliance Industries, Bharti Airtel, SBI, ICICI Bank and Bharti Airtel surged 3% each. L&T gained 4% ahead of their quarterly numbers scheduled to be on Friday.
Asian markets had a mixed bag today. Hang Seng and Nikkei traded higher after the report on key bailout fund from European region. While China’s stocks fell for a second day after foreign direct investment grew at the slowest pace in three months
European stocks rose for the first time in three days amid conflicting reports that France and Germany have reached a deal on expanding the region’s rescue fund to 2 trillion Euros & supported recapitalizing the region’s banks to meet a 9% capital ratio. While officials reportedly denied such a deal, prospects of progress were still shoring up several European banks.
The Dow Jones Futures is currently trading 180.05 points or 1.56 per cent up at 11577 indicating a positive sentiment in the US markets.
BSE clocked a turnover of Rs 1728 crore, which was lower than Rs 2192 crore on 18th October 2011. The market breadth, indicating the overall health of the market, was positive. Out of 3255 stocks traded, 1955 stocks advanced while 1174 declined. A total of 126 stocks remained unchanged.
In conclusion we believe that market will look at two major events one from Europe as European Union (EU) leaders meet on Sunday and the ongoing Q2 results, giving rise to market speculation based on the outcome of both the events.
| Benchmark Indices | ||
| Index | Closing | % Change |
| SENSEX | 17,085.34 | 2.01 |
| NIFTY | 5139.15 | 2.02 |
| Hang Seng | 18309.22 | 1.27 |
| Nikkei | 8772.54 | 0.35 |
| Shanghai | 2377.51 | -0.25 |
| Live | ||
| FTSE | 5465.56 | 1.01 |
| DAX | 5952.77 | 1.27 |
| CAC | 3169.32 | 0.89 |
The BSE Realty, Bank, Oil & Gas and Capital Goods indices climbed 2-3%. Auto and Metal rose 1.8% each and helped the benchmarks to wipe out all of yesterday's loss.
| Sectoral Indices | |||
| Category/Index | Close | Change(Pts) | Change (%) |
| Broad | |||
| MIDCAP | 6,194.56 | 80.14 | 1.31 |
| SMLCAP | 6,898.66 | 44.28 | 0.65 |
| BSE-100 | 8,897.73 | 160 | 1.83 |
| BSE-200 | 2,089.80 | 36.6 | 1.78 |
| BSE-500 | 6,568.95 | 110.64 | 1.71 |
| Sectors | |||
| REALTY | 1,846.15 | 53.71 | 3 |
| BANKEX | 11,265.66 | 295.46 | 2.69 |
| OIL&GAS | 8,743.78 | 194.05 | 2.27 |
| CG | 10,898.31 | 215.59 | 2.02 |
| AUTO | 9,000.55 | 160.24 | 1.81 |
| METAL | 11,319.85 | 200.28 | 1.8 |
| PSU | 7,474.81 | 122.65 | 1.67 |
| HC | 5,945.20 | 89.86 | 1.53 |
| TECk | 3,377.68 | 49.98 | 1.5 |
| IT | 5,534.89 | 72.45 | 1.33 |
| FMCG | 4,016.84 | 41.45 | 1.04 |
| POWER | 2,147.85 | 19.96 | 0.94 |
| CD | 6,770.13 | 56.1 | 0.84 |
Among the 30 share sensex Hero Motocorp was the top gainer throughout the session, rallying 4%. India's largest two-wheeler maker's net profit rose 19.4% to Rs 604 crore. The company said margins bottomed out in the first quarter. Also DLF moved up 4% as sources claimed that company has received 3 binding bids for Amanresorts
HDFC Bank today gained 3% post second quarter numbers. As it reported a rise of 31.5% in net profit to Rs 1,199 crore. The advances grew at 25.6 per cent. While gross nonperforming assets declined by 16 bps to 1 per cent.
Jindal Steel & Power was up today by 2.68 per cent after the announcement of the Q2 results. The stock went up because of better sales growth posted by the company during the quarter.
Heavyweights Reliance Industries, Bharti Airtel, SBI, ICICI Bank and Bharti Airtel surged 3% each. L&T gained 4% ahead of their quarterly numbers scheduled to be on Friday.
Asian markets had a mixed bag today. Hang Seng and Nikkei traded higher after the report on key bailout fund from European region. While China’s stocks fell for a second day after foreign direct investment grew at the slowest pace in three months
European stocks rose for the first time in three days amid conflicting reports that France and Germany have reached a deal on expanding the region’s rescue fund to 2 trillion Euros & supported recapitalizing the region’s banks to meet a 9% capital ratio. While officials reportedly denied such a deal, prospects of progress were still shoring up several European banks.
The Dow Jones Futures is currently trading 180.05 points or 1.56 per cent up at 11577 indicating a positive sentiment in the US markets.
BSE clocked a turnover of Rs 1728 crore, which was lower than Rs 2192 crore on 18th October 2011. The market breadth, indicating the overall health of the market, was positive. Out of 3255 stocks traded, 1955 stocks advanced while 1174 declined. A total of 126 stocks remained unchanged.
In conclusion we believe that market will look at two major events one from Europe as European Union (EU) leaders meet on Sunday and the ongoing Q2 results, giving rise to market speculation based on the outcome of both the events.
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