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SENSEX 17584.87 +75.07NIFTY 5259.90 +25.95
NASDAQ 2176.05 +6.87
DJIA 10426.31 -11.11
RS/$ 46.25 -0.16
Equities ended choppy session on a positive note on Thursday taking cues from the global markets. Oil & gas, capital goods and metals ended higher while FMCG and realty ended marginally lower.
National Stock Exchange's Nifty ended at 5259.90 higher by 0.50 per cent or 25.95 points from the previous close. The index touched a high of 5272.85 and low of 5232.50 intra-day.
Bombay Stock Exchange's Sensex settled at 17,584.87, up 75.07 points or 0.43 per cent. The index touched a high of 17628.04 and low of 17525.71 during the session. Market is likely to remain sideways unless corporates surprises with earnings. Budget expectations will set the tone for the market in either direction
Amongst the sectoral indices, BSE Oil&gas Index was up 2.35 per cent, BSE Capital goods Index gained 0.76 per cent and BSE Metal Index jumped 0.67 per cent. BSE FMCG Index was down 0.50 per cent. Reliance Communications (4.16%), ABB (3.99%), Siemens (3.45%), Reliance Industries (2.98%) and Wipro (2.85%) were the gainers. Technology major Wipro is likely to launch $ 1 billion sponsored ADR issue. This will allow Indian investors to tender shares in the ADR issue to take advantage of an arbitrage opportunity, as the firm's American shares were trading at more than 40 per cent premium to the India shares. The ADRs may be tendered on a pro-rata basis. In order to raise $1 billion via sponsored ADRs, the investors (both promoters and public) can tender maximum of 5 per cent of total equity shares at current market price. Now all depends upon the acceptance ratio and what price is fixed for tendering the shares
Hindustan Unilever (-2.36%), Tata Power (-2.34%), HCL Technologies (-2.1%), Suzlon Energy (-1.88%) and Reliance Capital (-1.81%) were the losers.
Amongst the sectoral indices, BSE Oil&gas Index was up 2.35 per cent, BSE Capital goods Index gained 0.76 per cent and BSE Metal Index jumped 0.67 per cent. BSE FMCG Index was down 0.50 per cent. Reliance Communications (4.16%), ABB (3.99%), Siemens (3.45%), Reliance Industries (2.98%) and Wipro (2.85%) were the gainers. Technology major Wipro is likely to launch $ 1 billion sponsored ADR issue. This will allow Indian investors to tender shares in the ADR issue to take advantage of an arbitrage opportunity, as the firm's American shares were trading at more than 40 per cent premium to the India shares. The ADRs may be tendered on a pro-rata basis. In order to raise $1 billion via sponsored ADRs, the investors (both promoters and public) can tender maximum of 5 per cent of total equity shares at current market price. Now all depends upon the acceptance ratio and what price is fixed for tendering the shares
Hindustan Unilever (-2.36%), Tata Power (-2.34%), HCL Technologies (-2.1%), Suzlon Energy (-1.88%) and Reliance Capital (-1.81%) were the losers.
Market breadth on BSE was positive with 1920 advances against 982 declines. Meanwhile India's annual wholesale price index increased by 7.31 per cent year on year in December 2009 due to costlier Primary Articles group. With December 2009 WPI 7.31% higher yoy, robust November industrial production (IIP) number at 11.7% and September FY10 quarter GDP at 7.9% – RBI may bring forward a rate hike and phase out economic stimulus. But we expect the central bank to retain its pro liquidity bias to maintain the current economic momentum
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