Market ends the day with gains

Shrikant / 02 Feb 2012

Markets in a dramatic U-turn ended the day in positive. Bharti Airtel was the top gainer after the Supreme court ruling of cancelling 122 2G licenses.

In a dramatic turnaround today Indian markets today showed a U-turn where both indices Sensex and Nifty trimmed the morning gains and again rose negatives and closed with over 0.6% intraday returns. This dramatic return was mainly caused by the Supreme Court ruling of the cancelling 122 2G licenses issued in or after 2008. Telecom stocks were seen in the pressure due to this, however Bharti Airtel gained by over 6% by the end of the day. Idea and Tata Communications were also up by about 2%.

Earlier Asian markets in the positive territory owing to the strong global cues. Chinese markets Hang Seng and Shanghai gained about 2% while Nikkei gained by 67 points or 0.76%.

European markets also opened in green. FTSE however has lost few points and is trading marginally down. DAX and CAC have however continued trading in the positives.

Dow Jones Futures at the moment is trading up by 0.02% indicating the positive to flat sentiment in the markets.

Benchmark Indices
Index Closing % Change
SENSEX 17,431.85 0.76%
NIFTY 5,269.90 0.65%
Hang Seng 20,739.45 2.00%
Nikkei 8,876.82 0.76%
Shanghai 2,312.56 1.96%
Live
FTSE 5,783.96 -0.12%
CAC 3,368.19 0.02%
DAX 6,622.50 0.09%


Back home Teck index surged by 2.08% by the closing. IT stocks also surged by 1.53%. Metal, CG and Realty were also on the investor’s radar and gained by over 1%. The defensive indices HC, CD and FMCG however shed few points and ended in the day with marginal losses.  

Sectoral Indices
Index Close Change(Pts) Change (%)
Broad
MIDCAP 5969.76 32.57 0.55
SMLCAP 6608.97 35.39 0.54
BSE-100 9098.88 59.69 0.66
BSE-200 2129.33 14.1 0.67
BSE-500 6650.48 45.48 0.69
Sectors      
TECk 3545.37 72.33 2.08
IT 5859.77 88.48 1.53
METAL 12006.09 166.18 1.4
CG 10231.88 135.99 1.35
REALTY 1746.69 21.58 1.25
POWER 2129.59 20.32 0.96
PSU 7405.36 59.36 0.81
BANKEX 11480.38 52.51 0.46
OIL&GAS 8591.89 31.06 0.36
AUTO 9448.67 19.97 0.21
FMCG 4062.3 -10.74 -0.26
CD 5806.94 -22.27 -0.38
HC 6304.98 -39.04 -0.62

Among the 30 Sensex stocks, 21 stocks made it to positive by the end of the day. Bharti Airtel was the top gainer as it is clear now that the Court verdict will decrease some competition pressure form the company and will have an advantage going ahead. Realty major DLF gained over 4%. Sterlite, Wipro, Gail India, Hindalco industries also gained over 3%. Cipla on the other hand lost 2.53% by closing. ITC and Jindal Steel also lost by over 1%. RIL despite ongoing buyback, traded almost flat for whole day.

The market breadth, indicating overall health of the market remained very positive by. Out of a total of 3324 stocks traded, 1769 stocks advanced, 1424 stocks declined while 131 stocks remained unchanged.

Advance-Decline Table
Index Advances Declines Unchanged
BSE 30 21 9 0
BSE 100 59 40 1
BSE 200 119 79 2
BSE 500 292 201 7
Others 1278 1095 121


In conclusion, markets have continued the Bull Run that started with the New Year. In last four trading days alone markets have added over 3%. We advice our investors to start accumulating fundamentally good stocks in their portfolio, we nevertheless will keep advising through our flagship magazine Dalal Street Investment Journal as well as through our website www.DSIJ.in.

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