Indian market has finally recovered from the Greek shock and is ready for a possible pre-budget rally amid growing confidence in the Indian economy. The benchmark Indian indices registered healthy gains for first time in four weeks.
On Monday, the NSE Nifty almost went on to hit its 200-Day moving average on escalating concerns over the debt problems in a few European nations. However, as the week progressed, upbeat GDP growth forecast, easing concerns over
The top gainers: The top gainers in the Sensex were Ambuja Cements (up 7.1%), Hero Honda (up 6.7%), Infosys Tech (up 6.2%), Grasim (up 5.2%) and Bharti Airtel (up 4.8%).
The Top Losers: The top losers in the Sensex were Tata Steel (down 3%), Tata Power (down 1.5%), DLF (down 0.6%), NTPC (down 0.5%) and ITC (down 0.5%).
The BSE IT Index (up 4.7%): The top gainers in the IT sector were Financial Tech (up 8.6%), Sasken Communication (up 5.3%), Mphasis (up 3.6%), HCL Tech (up 3.5%) and Oracle Financial (up 3.2%). TCS gained over 3% during the week. The IT major plans to hire 30,000 staff in 2010-11 in expectations of rise in demand for services from its overseas clients, reports stated. Infosys rose over 6% during the week. According to reports the company plans to recruit 15,000 people in the days ahead.
The BSE Consumer Index: The top gainers in the Consumer Durables sector were Su-Raj Diamonds (up 7.6%), Videocon Industries (up 5.8%), Mirc Electronics (up 3.9%), Titan Inds (up 3.2%) and Blue Star (up 2%).
The BSE Healthcare Index (up 0.8%): The top gainer in the Pharma space was Strides Arcolab. The stock rose over 14% over the week. The company received ANDA approval for Labetalol Hydrochloride (HCI) Injection, USP 100 mg per 20 ml and 200 mg per 40 ml, Multi-dose Vials. Natco Pharma rose 12% during the week. Fidelity Tax Advantage Fund purchased 0.68% stake or ~0.19mn shares of the company for Rs23.01mn.Sun Pharma surged 3.5% during the week.Among the other major gainers were, Fresenius Kabi (up 12.9%), Astrazeneca Pharma (up 10.9%) and Orchid Chem (up 7.7%) The top losers Dr Reddy's Labs (down 5.2%), Zandu Pharma (down 3.9%), Ipca Labs (down 2.2%), Marksans Pharma (down 1.9%) and Morepen Labs (down 0.6%).
The BSE Banking Index (up 2%): The top gainers in the banking space were OBC (up 7.4%), IOB (up 4.9%), Andhra Bank (up 4.6%), Union Bank of India (up 4.1%) and PNB (up 3.6%).The top losers were Karnataka Bank (down 1.5%), Yes Bank (down 0.8%) and BOB (down 0.3%).
The BSE Auto Index (up 2.4%): The top gainer in the auto space was Hero Honda. The stock rose over 6.5% during the week. According to a report, the company will launch 250cc bike and will be priced at around Rs1.5 lakh. R&D work on the bike is complete and trial production will begin in the next three months, reports added.Among the other major gainers were, Bajaj Auto (up 6.4%), Hindustan Motors (up 4.1%), Eicher Motors (up 2.4%) and Tata Motors (up 2.3%).The top losers in the auto space were Swaraj Mazda (down 6%) and Maruti Suzuki marginally slipped 0.2% during the week.
The BSE Oil & Gas Index (up 2.4%): The top gainers in the oil & gas space were Hindustan Oil (up 13.5%), Essar Oil (up 4.8%), Great Offshore (up 3.5%), Reliance Industries (up 3.4%) and Chennai Petroleum (up 3.2%)The top losers in the oil & gas space were Gujarat NRE Coke (down 4.6%) and BPCL (down 0.3%).
The BSE Capital Goods Index (up 1.6%): The top gainers in the capital goods space were Esab
The Cement Sector: Cement stocks were in action as cement prices escalated in most part of the country. The top gainers in the cement sector were Jk Cements (up 17.6%),
The Telecom Sector: The top gainers in the telecom space were Gemini Comm (up 19.6%), Bharti Airtel (up 4.8%), Shyam Telecom (up 4%), Reliance Com (up 3.6%) and Idea Cellular (up 3.3%).The top losers in the telecom sector were Himachal Futuristic (down 4.5%) and Tata Communication (down 0.8%).
The Realty Sector (up 4.1%): The top gainers in the real estate space were Peninsula Land (up 9.3%), Unitech (up 8.5%), Mahindra Lifespace (up 5.2%), Ansal Props (up 5.1%) and Anant Raj Indus (up 5.1%).HDIL rose over 3.6% during the week.
The Metals sector (up 1.8%): The top gainers in the metals sector were Bhushan Steel (up 6.8%), Ispat Industries (up 2.7%), JSW Steel (up 2.2%), Monnet Ispat (up 2%) and Jindal Stainless (up 1.3%).The top losers were Tata Steel (down 3%), Adhunik Metaliks (down 1.2%), Tata Sponge (down 0.9%) and Sunflag Iron (down 0.3%).
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Regards,
RAKESH MAKIN
Chugh securities (P) Ltd
+91 9041667797 (Direct),9915684997
0172-4657997 (OFF)
PANCHKULA (Haryana).
Email:makin_97@yahoo.com
Blog :http://wwwmakin97-nse.blogspot.com/
Home page: http://in.groups.yahoo.com/group/makin97NSEtips
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