SENSEX 16859.68 -191.46
NIFTY 5036.00 -58.15
NASDAQ 2176.05 +6.87
DJIA 10426.31 -11.11
RS/$ 46.25 -0.16
Bears flexed their muscles for a second straight day Friday but found massive resistance from the bulls, which helped equity benchmarks settle well above the day’s low. Equities slipped more than 2 per cent lower in early trade, particularly battering the midcap and smallcap counters. The fall was in line with a sell off in global equities, with Asian markets tumbling after US President Barack Obama threatened tough new restrictions on banks, sending jitters across global markets. However, sentiment got better after Reliance Industries sprung a positive surprise for the market with its earnings declaration for the October-December quarter, thanks to a surge in gross refining margins. The company reported a net profit of Rs 4008 crore, up 14.48 per cent from Rs 3501 crore in the corresponding period a year ago. The standalone net sales grew to Rs 56,856 crore for the quarter ended on Dec 31, 2009 from Rs 31,563 crore in the same quarter previous year. During the quarter, the revenue from petrochemicals business rose 17 per cent year-on-year to Rs 14,756 crore and gross refining margins were recorded at $5.9 per barrel. Meanwhile, its Q3 refining revenues soared 143 per cent. Among other bluechip names that reported earnings for the October-December quarter were Bharti Airtel and ITC. Telecom giant Bharti Airtel managed a 2 per cent rise in quarterly net profit, beating street estimates. The company reported a standalone net profit of Rs 2312.10 crore for the quarter ended Dec 31, 2009, up from Rs 2296.94 crore for the quarter ended Sep 30, 2009. Net sales for the December quarter stood at Rs. 8755.45 crore compared with Rs. 8901.66 crore for the quarter to September. FMCG major ITC Ltd has posted standalone net profit of Rs. 1144.17 crore for the quarter ended Dec 31, 2009 against Rs. 903.21 crore for the corresponding quarter of 2008. Net sales stood at Rs. 4531.85 crore compared with Rs. 3833.31 crore year ago. Most of the damage has taken place in the last two sessions. Going into next week, we have a truncated week of trade along with the F&O expiry and the monetary policy review.
NIFTY 5036.00 -58.15
NASDAQ 2176.05 +6.87
DJIA 10426.31 -11.11
RS/$ 46.25 -0.16
Bears flexed their muscles for a second straight day Friday but found massive resistance from the bulls, which helped equity benchmarks settle well above the day’s low. Equities slipped more than 2 per cent lower in early trade, particularly battering the midcap and smallcap counters. The fall was in line with a sell off in global equities, with Asian markets tumbling after US President Barack Obama threatened tough new restrictions on banks, sending jitters across global markets. However, sentiment got better after Reliance Industries sprung a positive surprise for the market with its earnings declaration for the October-December quarter, thanks to a surge in gross refining margins. The company reported a net profit of Rs 4008 crore, up 14.48 per cent from Rs 3501 crore in the corresponding period a year ago. The standalone net sales grew to Rs 56,856 crore for the quarter ended on Dec 31, 2009 from Rs 31,563 crore in the same quarter previous year. During the quarter, the revenue from petrochemicals business rose 17 per cent year-on-year to Rs 14,756 crore and gross refining margins were recorded at $5.9 per barrel. Meanwhile, its Q3 refining revenues soared 143 per cent. Among other bluechip names that reported earnings for the October-December quarter were Bharti Airtel and ITC. Telecom giant Bharti Airtel managed a 2 per cent rise in quarterly net profit, beating street estimates. The company reported a standalone net profit of Rs 2312.10 crore for the quarter ended Dec 31, 2009, up from Rs 2296.94 crore for the quarter ended Sep 30, 2009. Net sales for the December quarter stood at Rs. 8755.45 crore compared with Rs. 8901.66 crore for the quarter to September. FMCG major ITC Ltd has posted standalone net profit of Rs. 1144.17 crore for the quarter ended Dec 31, 2009 against Rs. 903.21 crore for the corresponding quarter of 2008. Net sales stood at Rs. 4531.85 crore compared with Rs. 3833.31 crore year ago. Most of the damage has taken place in the last two sessions. Going into next week, we have a truncated week of trade along with the F&O expiry and the monetary policy review.
National Stock Exchange’s Nifty settled at 5036, down 1.14 per cent or 58.15 points. The index recovered from a low of 4954.85 after opening at a high of 5094.15.
Bombay Stock Exchange’s Sensex ended at 16,859.68, down 191.46 points or 1.12 per cent. The index rose from a low of 16,608.09 and touched a high of 17,000.33. Midcaps and smallcaps managed to pare most of its intra-day losses as well. The BSE Midcap Index was down 1.09 per cent and BSE Smallcap Index lost 1.14 per cent. Sectorwise, BSE Realty was down 1.7 per cent, BSE IT Index dropped 1.61 per cent and BSE Bankex shed 1.56 per cent.
Bombay Stock Exchange’s Sensex ended at 16,859.68, down 191.46 points or 1.12 per cent. The index rose from a low of 16,608.09 and touched a high of 17,000.33. Midcaps and smallcaps managed to pare most of its intra-day losses as well. The BSE Midcap Index was down 1.09 per cent and BSE Smallcap Index lost 1.14 per cent. Sectorwise, BSE Realty was down 1.7 per cent, BSE IT Index dropped 1.61 per cent and BSE Bankex shed 1.56 per cent.
On the other hand, BSE FMCG Index climbed 1.34 per cent and BSE PSU Index inched up 0.36 per cent. Biggest Nifty gainers comprised Idea Cellular (7.17%), BHEL (3.78%), HCL Technologies (3.56%), ITC (1.6%) and Hero Honda (0.53%). Ranbaxy Laboratories (-4.37%), Tata Steel (-4.15%), Suzlon (-3.74%), Larsen & Toubro (-3.73%) and Sun Pharmaceuticals (-3.43%) remained under pressure. Market breadth improved considerably with 2037 declines against 849 advances. On the NSE, there were 1022 losers against 304 gainers.
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RAKESH MAKIN
Chugh securities Pvt Ltd
+91 9915684997,9041667797(DIRECT)
OFF 0172-4657997
PANCHKULA (Haryana).
Email:makin_97@yahoo.com
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Regards,
RAKESH MAKIN
Chugh securities Pvt Ltd
+91 9915684997,9041667797(DIRECT)
OFF 0172-4657997
PANCHKULA (Haryana).
Email:makin_97@yahoo.com
Email:rakeshmakin@yahoo.com
Blog :http://wwwmakin97-nse.blogspot.com/
Home page: http://in.groups.yahoo.com/group/makin97NSEtips
Group mail id: makin97NSEtips@yahoogroups.co.in
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