Markets recover slightly on L&T, Maruti results
Shrikant / 23 Jan 2012
The Indian markets remained volatile for the whole day today. The only respite was that after a negative opening, the markets ended on a slightly positive note. The recovery was seen after L&T and Maruti Suzuki posted their quarterly results.
Earlier in the day, Nikkei closed on a slightly negative note. The other major Asian indices remained closed on account of the Chinese New Year celebrations.
The European markets, which opened on a mixed note, and have continued to show volatility.
| Benchmark Indices | ||
| Index | Closing | % Change |
| Sensex | 16,751.73 | 0.08% |
| Nifty | 5,046.25 | -0.05% |
| Hang Seng | 20,110.37 | 0.84% |
| Nikkei | 8,765.90 | -0.01% |
| Shanghai | 2,319.12 | 0.00% |
| Live | ||
| FTSE | 5,741.58 | 0.23% |
| CAC | 3,315.59 | -0.18% |
| DAX | 6,361.24 | -0.67% |
Back home, the FMCG index surged by 33 points or 0.83% due to the rally in Godrej Consumer Products. The interest rate-sensitive Teck index closed with 0.82% gains. Teck, CG, Power, Auto, IT and Bankex also closed in the positive. On the other hand, HC, PSU, CD, Oil & Gas and Metals were the losing candidates.
| Sectoral Indices | |||
| Index | Close | Change(Pts) | Change (%) |
| Broad | |||
| MIDCAP | 5683.2 | 3.13 | 0.06 |
| SMLCAP | 6294.01 | 16.74 | 0.27 |
| BSE-100 | 8700.16 | 2.03 | 0.02 |
| BSE-200 | 2032.01 | 0.65 | 0.03 |
| BSE-500 | 6346.06 | 1.97 | 0.03 |
| Sectors | |||
| FMCG | 4068.46 | 33.39 | 0.83 |
| REALTY | 1721.76 | 13.97 | 0.82 |
| TECk | 3319.64 | 26.59 | 0.81 |
| CG | 9882.13 | 75.18 | 0.77 |
| POWER | 2092.9 | 15.21 | 0.73 |
| AUTO | 8862.1 | 43.22 | 0.49 |
| IT | 5520.82 | 20.91 | 0.38 |
| BANKEX | 10935.12 | 22.97 | 0.21 |
| HC | 6162.35 | -6.35 | -0.1 |
| PSU | 7216 | -10.93 | -0.15 |
| CD | 5770.48 | -30.83 | -0.53 |
| OIL&GAS | 8186.47 | -138.55 | -1.66 |
| METAL | 10966.9 | -230.74 | -2.06 |
18 of the 30 Sensex stocks made it to positive territory by the end of the day. Maruti Suzuki rallied by 5.77% after its quarterly results were announced. Bharti Airtel also closed with 3.03% intraday returns. BHEL and DLF were both up by over 2%. However, Hindalco and Sterlite Industries took major beatings, and closed 4.39% and 5.36% down respectively from their last week’s closing values.
Among the ‘A’ group stocks, JSW Energy surged by over 9%. Jain Irrigation also soared by 6.62%. The Suzlon Energy scrip has seen good momentum today, closing with 5.89% gains. Adani Ports, however, lost over 5% by the end of the day. Colgate-Palmolive also announced its quarterly results, with its Q3 net profits increasing 74.5% to Rs 115.58 cr. The scrip closed 2.53% up from last week's closing value.
The market breadth, which indicates the overall health of the market, remained very mixed. Out of a total of 3244 stocks traded on the BSE, 1620 stocks advanced, 1487 stocks declined and 137 stocks remained unchanged.
| Advance-Decline Table | |||
| Index | Advances | Declines | Unchanged |
| BSE 30 | 18 | 11 | 1 |
| BSE 100 | 54 | 44 | 2 |
| BSE 200 | 97 | 98 | 5 |
| BSE 500 | 230 | 253 | 17 |
| Others | 1221 | 1081 | 112 |
In conclusion, the market remained volatile for the whole day. L&T has given indication of margin pressures ahead, while ITC and Godrej Consumer Products' results have brought investors some respite. Torrent Power's quarterly results reported a marginal increase in profits. The banks have been putting in some good numbers. From these results, one can take cues about where India Inc. is heading in terms of overall results for the quarter. Investors should pay careful attendance to the management commentary, which will also provide them priceless hints about the future guidance of the companies.
Tomorrow is an important day for the Indian equity markets, as the RBI will announce its review of the fiscal policy. There are mixed reactions in the markets about the rate cut. The markets will rally if a rate cut is announced by the RBI. Any other announcement will have cause the markets to react otherwise.
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