Sensex choppy with a flat note
Srujani Panda / 21 Oct 2011
Indian Markets continue to trade on flat note amidst choppy trades as investors and traders seem to be waiting for some triggers like RBI policy scheduled to be held on October 25 and outcome of Europe meet for debt crisis solution on October 26.
It also seems that the focus has shifted towards the dollar as the rupee sharply depreciated to Rs 50.29 levels as investors shun equities and other asset classes and flock towards the dollar as a safe investment haven.
Meanwhile, European stock markets have also followed suit and opened on a flat note as speculations loom over the possible rescue plan to be devised by Germany and France to tackle the euro-zone crisis.
Back home, amongst the SENSEX stocks Bharti Airtel was the top loser, down nearly 2 per cent to Rs 382. DLF was also trading weaker by 1.7 per cent at Rs 227, the stock dipped on back of reports that SEBI has ordered investigation regarding disclosure violations during the IPO. Tata Motors, Hindalco, Tata Steel, Infosys, NTPC, HDFC and ONGC were also among the laggards.
On the other hand, Maruti Suzuki was the top gainer among the Sensex stocks. The stock gained 2.2 per cent to Rs 1,098 after the workers at its Manesar plant called off their two-week long strike. BHEL, Bajaj Auto, State Bank of India, Hero MotoCorp, J P Associates, Reliance Industries and TCS were also trading higher by 1-2 per cent each. Larsen & Toubro was also in the green ahead of its second quarter numbers to be announced later in the day.
Among the individual stocks, Tulip Telecom has rallied 5 per cent to Rs 152 after getting approval from shareholders for raising up to Rs 1,000 crore through issuance of long-term capital, including qualified institutional placements (QIP).
BSE Realty index was the top loser, down 0.8 per cent to 1,794 levels. IT, Metal, FMCG and PSU indices also reeled under a mild selling pressure.
At the same time, BSE Consumer Durables index was the top gainer on the sectoral charts, up 0.7 per cent to 6,739. Capital Goods index added 0.6 per cent to 10,823. Auto, power, oil & Gas and banking stocks witnessed some bit of buying.
From the realty space, Prestige Estates, Anant Raj Industries, Peninsula Land, Phoenix Mills, DLF, Sunteck Realty and Oberoi Realty were among the top losers. Titan Industries was the top gainer among the Consumer Durable stocks, up 1.8 per cent to Rs 220. TTK Prestige, VIP Industries, Rajesh Exports and Bajaj Electricals were also among the gainers.
The market breadth, indicating the overall health of the market, is negative. On BSE, 1396 shares fell and 1232 shares rose. A total of 104 shares remained unchanged.
In conclusion, we expect the markets to be volatile for the remainder of the day as investors and traders start speculating over the possibility of another rate hike by the RBI in on 25th Oct 2011.
It also seems that the focus has shifted towards the dollar as the rupee sharply depreciated to Rs 50.29 levels as investors shun equities and other asset classes and flock towards the dollar as a safe investment haven.
| Benchmark Indices | ||
| Index | Rate | % Change |
| FTSE | 5,410.45 | 0.48 |
| DAX | 5,804.80 | 0.66 |
| CAC | 3,114.54 | 0.99 |
| Hang Seng | 18,039.78 | 0.32 |
| Nikkei | 8,678.89 | -0.04 |
| Shanghai | 2,317.28 | -0.60 |
| SENSEX | 16928.48 | -0.05 |
| NIFTY | 5089.55 | -0.05 |
Meanwhile, European stock markets have also followed suit and opened on a flat note as speculations loom over the possible rescue plan to be devised by Germany and France to tackle the euro-zone crisis.
Back home, amongst the SENSEX stocks Bharti Airtel was the top loser, down nearly 2 per cent to Rs 382. DLF was also trading weaker by 1.7 per cent at Rs 227, the stock dipped on back of reports that SEBI has ordered investigation regarding disclosure violations during the IPO. Tata Motors, Hindalco, Tata Steel, Infosys, NTPC, HDFC and ONGC were also among the laggards.
On the other hand, Maruti Suzuki was the top gainer among the Sensex stocks. The stock gained 2.2 per cent to Rs 1,098 after the workers at its Manesar plant called off their two-week long strike. BHEL, Bajaj Auto, State Bank of India, Hero MotoCorp, J P Associates, Reliance Industries and TCS were also trading higher by 1-2 per cent each. Larsen & Toubro was also in the green ahead of its second quarter numbers to be announced later in the day.
Among the individual stocks, Tulip Telecom has rallied 5 per cent to Rs 152 after getting approval from shareholders for raising up to Rs 1,000 crore through issuance of long-term capital, including qualified institutional placements (QIP).
BSE Realty index was the top loser, down 0.8 per cent to 1,794 levels. IT, Metal, FMCG and PSU indices also reeled under a mild selling pressure.
At the same time, BSE Consumer Durables index was the top gainer on the sectoral charts, up 0.7 per cent to 6,739. Capital Goods index added 0.6 per cent to 10,823. Auto, power, oil & Gas and banking stocks witnessed some bit of buying.
From the realty space, Prestige Estates, Anant Raj Industries, Peninsula Land, Phoenix Mills, DLF, Sunteck Realty and Oberoi Realty were among the top losers. Titan Industries was the top gainer among the Consumer Durable stocks, up 1.8 per cent to Rs 220. TTK Prestige, VIP Industries, Rajesh Exports and Bajaj Electricals were also among the gainers.
The market breadth, indicating the overall health of the market, is negative. On BSE, 1396 shares fell and 1232 shares rose. A total of 104 shares remained unchanged.
In conclusion, we expect the markets to be volatile for the remainder of the day as investors and traders start speculating over the possibility of another rate hike by the RBI in on 25th Oct 2011.
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