The Nifty ended the week flat after hitting a new 52-week high on Friday. Rising food inflation and IIP numbers, which were below Street expectations restricted gains for the market For the week, the BSE Sensex ended flat at 17,119 while the NSE Nifty marginally added 0.2% to shut shop at 5,117.The BSE Sensex hit an intra-week high of 17,352 and low of 16,943 while, the Nifty hit an intra-week high of 5,182 and low of 5,052
The top gainers: The top gainers in the Sensex were BHEL (up 7.4%), Bharti Airtel (up 6.9%), L&T (up 4.2%), Ambuja Cements (up 3.3%) and Infosys (up 3.2%).
The Top Losers: The top losers in the Sensex were Cipla (down 5.2%), Tata Steel (down 5.1%), Hindalco (down 3.6%), SBI (down 2.6%) and Ranbaxy Labs (down 1.7%).
The BSE IT Index (up 2.2%): The top gainer in the IT sector was Mahindra Satyam. The stock surged over 8% during the week. The company has decided to pay about Rs3.43bn to the UK-based mobile payment solutions company Upaid.Infosys was up 3% during the week “Infosys in its analyst meet, highlighted its increased focus on non-linear initiatives. Though the current business model lacks any credible non-linearity (~5-7% of overall revenues), Infosys intends to get a third of revenues from non-linear sources in the medium term.
HCL Tech ended the week higher by up 2.2% after the company announced that it entered into a multi million pounds, five-year technology infrastructure management and transformation engagement with News International, a UK subsidiary of News Corporation, the world’s leading diversified global media company.TCS (up 1.6%) and Wipro (up 1%) were among the other major gainers.The top losers were Financial Tech (down 3.1%), Sasken Communication (down 1.7%) and Patni Computer (down 0.3%).
The BSE Consumer Index: The top gainers in the consumer durables sector were Blue Star (up 3.9%), Mirc Electronics (up 1.7%), Su-Raj Diamonds (up 1%) and Videocon Industries (up 0.2%). The top loser was Whirlpool. The stock slipped over 5% during the week.
The Realty Sector (down 0.8%):
The top losers were Sobha Developers (down 6.5%), HDIL (down 2.3%), Akruti City (down 1.8%), Unitech (down 1.8%) and Omaxe (down 0.9%).The top gainers in the real estate space were Parsvnath (up 9.8%), Ansal Props (up 6.9%), Anant Raj Indus (up 5%), Mahindra Lifespace (up 1.9%) and Peninsula Land (up 0.7%).
The BSE Healthcare Index (down 2.1%): The top losers were Torrent Pharma (down 5.4%), Morepen Labs (down 4.7%), Dishman Pharma (down 3.8%) and GlaxoSmithKline (down 3.2%). Cipla fell 5% during the week after reports stated that the company received notices, demanding about Rs201.5mn, from drug price regulator for allegedly over-pricing two drugs.
The top gainers in the Pharma space were Marksans Pharma (up 8%), Strides Arcolab (up 2.7%) and Cadila Healthcare (up 1.7%). Piramal Healthcare was up 3% during the week, reports stated that the company would spend a part of the Rs10bn it is planning to raise, on acquisitions.
The BSE Banking Index (down 1.4%): The top losers in the banking space were Bank of Baroda (down 6.3%), IOB (down 3.6%), Union Bank of India (down 3.5%), OBC (down 3.5%) and Yes Bank (down 3.1%). The top gainers in the banking space were Federal Bank (up 1.1%) and Kotak Mahindra Bank (up 0.9%).
The BSE Auto Index (up 0.2%): The top gainers in the auto space were Bajaj Auto (up 4.8%), Swaraj Mazda (up 1.1%) and Tata Motors (up 0.3%).The top losers were M&M (down 1.6%), Eicher Motors (down 1.5%) and Ashok Leyland (down 1.4%).
The BSE Oil & Gas Index (down 1%): The top losers were Gujarat NRE Coke (down 6.8%), MRPL (down 4.6%), Essar Oil (down 3.8%), GSPL (down 3.4%), Chennai Petroleum (down 3.3%) and Reliance Industries (down 1.5%).The top gainers in the oil & gas space were IOC (up 4.4%), HPCL (up 4.4%), Hindustan Oil (up 1.1%) and BPCL (up 0.8%).ONGC gained 1% during the week. According to reports, the company plans to raise US$1bn to refinance the debt that ONGC Videsh had taken to fund the acquisition of UK's Imperial Energy.
The BSE Capital Goods Index (up 4%): The top gainers in the Capital Goods space were SKF India (up 10.6%), Carborundum Universal (up 9.4%), Esab India (up 8.8%) and Greaves Cotton (up 8.3%). BHEL surged 7% during the week. According to report, the company is planning to invest Rs2.35bn over the next two to three years in Bharat Heavy Plates and Vessels Limited. The top losers were Aban Offshore (down 3.6%), Gammon India (down 2.7%), Usha Martin (down 1.6%), HEG Ltd (down 1.5%) and LMW (down 0.7%).
The Cement Sector: The top losers in the cement sector were Birla Corp (down 6.2%), JK Cements (down 4.8%), Prism Cement (down 2.4%) and Gujarat Sidhee (down 1.2%).Madras Cement slipped 5% during the week “The higher-than-expected price fall in the southern region in the past two months and likely continuation of poor utilization on account of increasing capacities suggest that earnings pressure for south-based players is likely to be higher than our earlier estimates. In our recent meeting, management of Madras Cement (MCL) told us that it is planning another 5,000tpd clinker expansion in Tamil Nadu, likely to be operational by end-FY11. A 75MW captive power plant (CPP) will start by 2HFY11, reducing dependence on diesel generator (DG) sets.”. The top gainers were Binani Indus (up 3.4%), Ultratech Cement (up 2.8%) and ACC (up 0.5%).
The Telecom Sector: The top gainers in the telecom space were Gemini Comm (up 13.1%), Idea Cellular (up 9.1%), Shyam Telecom (up 7.1%) and TTML (up 3.2%).Bharti Airtel rose over 7% during the week. Reports stated that Reliance Globalcom and Bharti Airtel signed an agreement to build and operate a submarine cable system with the world's highest capacity with an estimated US$400mn.0 The top losers were Tata Communication (down 7.3%) and Wire and Wireles (down 0.8%).
The Metals sector (down 2.7%): The top losers in the metals sector were Tata Steel (down 5.1%), Lloyds Metals (down 4.2%), Monnet Ispat (down 4.2%), JSW Steel (down 3.7%) and Jindal Stainless (down 3%). The top gainers were Adhunik Metaliks (up 3%) and Sunflag Iron (up 1.8%). Jindal Steel advanced 3% during the week. According to reports, the company has bid for a majority stake in Zimbabwe Iron & Steel Co.
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