SENSEX 17118.74 -74.08
NIFTY 5148.35
-20.50
USD/INR 0050.05 +00.05
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UPDATEDTIME 09.28 PM 14 NOVEMBER 2011
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The Bombay
Stock Exchange's Sensex shed intraday gains and ended in the red as weak cues
from European peers dampened sentiments. Realty, metals and auto stocks led the
losers pack while technology and healthcare stocks ended in the green.
The indices began the week on a firm note taking cues from Asian peers. The market took in stride the marginal rise in the inflation data. However, indices gave away gains following weakness in European peers and slipped towards the close of session.
The worst hit were stocks from broader markets. Shares of sugar companies fell on reports the sugar output in India may fall short of government and industry estimates amid heavy monsoon rainfall in the month of June.
India's wholesale price inflation for the month of October rose marginally to 9.73 per cent vs 9.72 per cent in September. Now poll expected inflation to be around 9.65 per cent. Primary article inflation dipped marginally at 11.4 per cent vs 11.84 per cent while fuel group inflation was at 14.79 per cent vs 14.09 per cent in September.
"Given the current expectations of slowing growth and sticky inflation, on balance we believe the central bank would prefer to hold the policy interest rate steady for a prolonged period.
A reduction in the repo rate, we believe, will take place only around mid-2012. In our view, a high headline inflation reading will not offer the central bank any room to consider lowering policy interest rates in the remaining months of FY 11-12.
The Sensex ended at 17118.74, down 74.08 points or 0.43 per cent. The 30-share index touched intraday low of 17094.43 and high of 17391.99.
The National Stock Exchange's Nifty closed at 5148.35, down 20.50 points or 0.40 per cent. The broader index touched a high of 5228.90 and low of 5140.55 in trade today.
The indices began the week on a firm note taking cues from Asian peers. The market took in stride the marginal rise in the inflation data. However, indices gave away gains following weakness in European peers and slipped towards the close of session.
The worst hit were stocks from broader markets. Shares of sugar companies fell on reports the sugar output in India may fall short of government and industry estimates amid heavy monsoon rainfall in the month of June.
India's wholesale price inflation for the month of October rose marginally to 9.73 per cent vs 9.72 per cent in September. Now poll expected inflation to be around 9.65 per cent. Primary article inflation dipped marginally at 11.4 per cent vs 11.84 per cent while fuel group inflation was at 14.79 per cent vs 14.09 per cent in September.
"Given the current expectations of slowing growth and sticky inflation, on balance we believe the central bank would prefer to hold the policy interest rate steady for a prolonged period.
A reduction in the repo rate, we believe, will take place only around mid-2012. In our view, a high headline inflation reading will not offer the central bank any room to consider lowering policy interest rates in the remaining months of FY 11-12.
The Sensex ended at 17118.74, down 74.08 points or 0.43 per cent. The 30-share index touched intraday low of 17094.43 and high of 17391.99.
The National Stock Exchange's Nifty closed at 5148.35, down 20.50 points or 0.40 per cent. The broader index touched a high of 5228.90 and low of 5140.55 in trade today.
The
valuations do not seem cheap on FY12 earnings. On FY13 earnings it seems more
attractive but well the market would fluctuate from here also because earnings
outlook over the next quarter is still a question.
The market could calibrate the longer terms earnings outlook but I am not worried. We are 10 per cent here or there in that kind of situation. 16,000 on Sensex was my favourite number. Whenever it hits 16000 it is good time to start thinking of buying stocks.
BSE Midcap Index was down 1.60 per cent and BSE Smallcap Index moved 1.76 per cent lower.
Amongst the sectoral indices, BSE Realty Index fell 2.56 per cent, BSE Metal Index was down 2.16 per cent lower and BSE Auto Index declined 1.99 per cent. BSE IT Index was up 0.68 per cent and BSE Healthcare Index advanced 0.45 per cent.
Mahindra &Mahindra (-5.73%), Tata Steel (-4.03%), Maruti Suzuki (-2.96%), State Bank of India (-2.48%) and DLF (-2.30%) were amongst the major Sensex losers.
Mahindra & Mahindra posted net profit of Rs 737.38 crore for quarter ended September 2011 as compared to Rs 758.49 crore in the same period a year ago. Total income increased to Rs 7592.14 crore from Rs 5634.13 crore.
Bharti Airtel (2.48%), Hero MotoCorp (1.67%), HDFC Bank (1.45%), Sun Pharmaceuticals (1.30%) and Wipro (1.27%) and were amongst the major Sensex gainers.
Sun Pharmaceutical Industries posted net profit of Rs 437.55 crore for quarter ended September 30, 2011 as compared to Rs 345.72 crore in the same quarter a year ago. Total income increased to Rs 952.07 crore from Rs 807.52 crore.
Market breadth was negative on the BSE with 865 gainers against 1985 losers.
The market could calibrate the longer terms earnings outlook but I am not worried. We are 10 per cent here or there in that kind of situation. 16,000 on Sensex was my favourite number. Whenever it hits 16000 it is good time to start thinking of buying stocks.
BSE Midcap Index was down 1.60 per cent and BSE Smallcap Index moved 1.76 per cent lower.
Amongst the sectoral indices, BSE Realty Index fell 2.56 per cent, BSE Metal Index was down 2.16 per cent lower and BSE Auto Index declined 1.99 per cent. BSE IT Index was up 0.68 per cent and BSE Healthcare Index advanced 0.45 per cent.
Mahindra &Mahindra (-5.73%), Tata Steel (-4.03%), Maruti Suzuki (-2.96%), State Bank of India (-2.48%) and DLF (-2.30%) were amongst the major Sensex losers.
Mahindra & Mahindra posted net profit of Rs 737.38 crore for quarter ended September 2011 as compared to Rs 758.49 crore in the same period a year ago. Total income increased to Rs 7592.14 crore from Rs 5634.13 crore.
Bharti Airtel (2.48%), Hero MotoCorp (1.67%), HDFC Bank (1.45%), Sun Pharmaceuticals (1.30%) and Wipro (1.27%) and were amongst the major Sensex gainers.
Sun Pharmaceutical Industries posted net profit of Rs 437.55 crore for quarter ended September 30, 2011 as compared to Rs 345.72 crore in the same quarter a year ago. Total income increased to Rs 952.07 crore from Rs 807.52 crore.
Market breadth was negative on the BSE with 865 gainers against 1985 losers.
Regards
RAKESH MAKIN
+91,
9041667797(DIRECT), 9915684997
OFF
0172-4657997
PANCHKULA (Haryana).
Email:makin_97@yahoo.com
Group mail id: makin97NSEtips@yahoogroups.co.in
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