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Sensex off day's high; SBI declines, Maruti plunges over 8%
19 Jul 2012 02:18 PM
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The BSE Sensex and NSE Nifty erased half of gains due to fall in State Bank of India and TCS. ICICI Bank, Tata Motors and Larsen & Toubro saw somewhat profit booking. But the market breadth remained in favour of advances.

The 30-share BSE Sensex rose 93 points to 17,277.97 and the 50-share NSE Nifty gained 27.25 points at 5,243.55.

State-owned power equipment manufacturer BHEL and private power producer Tata Power shot up over 2.5%.

Top car maker Maruti Suzuki extended losses, losing more than 8% due to strike at its Manesar plant

Infosys, India's No. 2 software services exporter topped the buying list, rising 3% while its rivals TCS and Wipro gained 0.5% and 1.2%, respectively.

Among metals stocks, Sterlite Industries and Hindalco rallied 2% each. Tata Steel and Jindal Steel moved up 1% each.

Top commercial vehicle maker Tata Motors and country's second largest two-wheeler manufacturer Bajaj Auto jumped 1.4% and 1.7%, respectively.

Private sector lender ICICI Bank was up 1.3% while its rival State Bank of India declined 0.86%.

Index heavyweight Reliance Industries gained 1.6% whereas cigarette major ITC slipped 0.75%.

Top telecom operator Bharti Airtel tumbled over 2%. State-owned oil & gas producer ONGC and drug major Dr Reddy's Labs went down 0.5%.



At 12:59 hours IST: Sensex, Nifty maintain uptrend; Bharti, Maruti top losers

The BSE Sensex and NSE Nifty maintained early gains following positive global cues. European markets opened marginally higher while Asian markets remained strong in late trade following gains in US markets on better-than-expected earnings from Intel and Honeywell.

The BSE benchmark went up 100.63 points to 17,285.64 and the NSE benchmark rose 30 points to 5,246.40.

Country's second largest software services exporterInfosys gained 2.7% on short covering and build up of long positions. The stock had fallen quite sharply after its June quarter results that had announced on last Thursday. Its rivals TCS and Wipro were up 0.6% and 1.35%, respectively.

Bajaj Auto, India's No. 2 two-wheeler maker extended gains, rising 2%. Yesterday the stock had rallied over 5% after the company said the worst was over now.

Top commercial vehicle maker Tata Motors went up nearly 2% whereas the strike again at Manesar plant weighed on Maruti, which tanked 7.5% now.

Index heavyweight Reliance Industries moved up over 1%. Engineering and construction major by sales Larsen & Toubro rose 0.6%.

State-owned power equipment manufacturer BHEL rallied 2.5% ahead of likely Cabinet meeting to discuss a proposal to impose 21% duty on equipment imported for power generation.

Metals stocks remained on buyers' radar. Tata Steel, Sterlite Industries, Hindalco and Jindal Steel were up 1-2%.

Drug major Dr Reddy's Labs and top two-wheeler maker Hero Motocorp were down ahead of earnings today.

Telecom operator Bharti Airtel plunged over 2% ahead of empowered group of ministers' meeting on Friday.

The Indian rupee has appreciated by 20 paise to 55.28 against the US dollar from previous close of 55.48 a dollar.

Most active shares on exchanges were Maruti Suzuki, SBI, SKS Microfinance, Infosys, Indraprastha Gas, ICICI Bank and Bajaj Auto.

In the second line shares, Amtek India, SRF, Thermax, TTK Prestige and KPIT Cummins were up 4-5%. However, Cholamandalam, CRISIL, Pidilite Industries, Honeywell Automation and Carborundum slipped 2.5%-4%.

Advancing shares outnumbered declining by 1466 to 1010 on the BSE.

At 11:56 hours IST: Sensex pares some losses; BHEL, Tata Motor, Infy up over 2%

The BSE Sensex and NSE Nifty remained higher as the current optimism may be on hopes that the government may take some action on diesel price after today'sPresidential poll. Brent crude rose 1.1% yesterday to USD 105.2 a barrel, which rallied by USD 5 a barrel this week itself and gained more than 20% in a month.

The BSE benchmark gained 91 points at 17,276 and the NSE benchmark went up 25.45 points to 5,241.75, though there were some bouts of profit booking.

Infosys, country's No. 2 software services exporter rose over 2% while its rivals TCS and Wipro were up 0.77%-1.35%.

State-owned power equipment maker surged more than 2.5% as today cabinet is likely to discuss a proposal to impose 21% duty on equipment imported for power generation. Engineering and construction major by sales Larsen & Toubro moved up 0.9%.

Top commercial vehicle maker Tata Motors rebounded with 2% gains whereas top car maker Maruti Suzuki plunged 7% on workers' strike at Manesar plant.

Index heavyweight Reliance Industries gained 0.8% and housing finance company HDFC was up 0.5%.

Country's largest private sector lender ICICI Bank jumped 1.5% while its rivals HDFC Bank and State Bank of India were up just 0.2%.

However, shares of Bharti Airtel tanked 2% ahead of EGoM tomorrow. ITC, ONGC, Hero Motocorp (ahead of numbers) and Dr Reddy's Labs (ahead of earnings) were down 0.3%-0.6%.

In the second line shares, Greaves Cotton, Jain Irrigation, TTK Prestige, KPIT Cummins and DB Corp climbed 3-4% whereas Cholamandalam, CRISIL, Sanofi India, Gillette India and Carborundum lost 2-4%.

At 10:46 hours IST: Choppy Sensex holds early gains; banks, IT, metals up

Indian equity benchmarks retained early gains amid volatility led by buying interest in banks, capital goods, metals, technology and power stocks. However, top car maker Maruti Suzuki crashed more than 7% today as Suzuki spokesman said production at Manesar plant continued to be halted.

"We do not know when production will resume. There was no damage to the factory's production line or facilities and the damage was only at theoffice," he said.

Research firm Fortune sees production loss of 7,000-8,000 units/week at Manesar Plant.



The BSE Sensex rose 102.60 points to 17,287.61 and the NSE benchmark gained 31 points at 5,247.15. The broader markets followed the same trend, rising 0.6% as about two shares advanced for every share declining on the National Stock Exchange.

According to ICICIDirect.com, the level of 5300 is the immediate resistance. "A close above 5300 would induce major short covering in the market towards 5500. Hence, we would advise formation of fresh long positions in high beta stocks only above 5300. Enough momentum is likely to be seen above this level."

Country's largest software services exporters TCS, Infosys and Wipro gained 1-2%. Index heavyweight Reliance Industries moved up 1% ahead of its first quarter earnings that will be declared tomorrow after market hours.

Private sector lender ICICI Bank gained 1.5% while its rivals State Bank of India and HDFC Bank were up around 0.5%. Housing finance company HDFC too was up 0.5%.

Top commercial vehicle maker Tata Motors bounced back quite sharply, rising 1.7%. However, Hero Motocorp was down 0.8% ahead of earnings today.

State-owned power equipment manufacturer BHEL topped the buying list, rising nearly 3% as the cabinet is likely to discuss today a proposal to impose 21% duty on equipment imported for power generation. Engineering and construction major by sales Larsen & Toubro was up 0.9%.

Metals stocks extended gains - Sterlite Industries, Jindal Steel, Hindalco and Tata Steel rallied 1%-1.8%.

Asian markets remained strong; Shanghai, Hang Seng, Kospi and Taiwan Weighted were up 1.3%-1.7%. Nikkei rose 0.9% and Straits Times was up 0.4%.

At 9:21 hours IST: Sensex up 100 pts on positive global cues; Maruti tanks 5%

The 30-share BSE Sensex gained more than 100 points in early trade on Thursday, taking yesterday's upmove further due to positive globalcues.

The BSE benchmark rose 113.51 points to 17,298.52. Meanwhile, the NSE benchmark hit the 5250 level, rising 34.25 points to 5,250.55.

The US markets gained in the range of 0.7-1% yesterday after better-than-expected earnings by Honeywell and Intel amid fears of global slowdown. Asian markets were trading 1-2% higher.

Back home, top car maker Maruti Suzuki crashed 6% on workers' strike.

However, BHEL and L&T gained 1.5-2% as the cabinet is likely to discuss today a proposal to impose 21% duty on equipment imported for power generation.

JP Associates and Sterlite were up over 2%. Sesa Goa, Hindalco Industries, Tata Power, Tata Motors, SBI, Axis Bank, ICICI Bank, M&M, DLF and IDFC went up over 1%. SAIL, HUL and ITC were up 0.5%.

However, Bharti Airtel was down 0.7% ahead of EGoM tomorrow.

The CNX Midcap Index was up 53 points at 7,408. About four shares advanced for every share declining on the National Stock Exchange.

In the second line shares, Aptech surged 3.75%. Essar Shipping shot up 7% amid large volumes.

Dishman Pharma, Pipavav Defence, Jet Airways and UB Holdings moved up 1.5-2%.

Infrastructure stocks like GMR Infra, Punj Lloyd, Voltas and Lanco Infratech climbed 1-2%.

Shree Renuka, Financial Tech, Dish TV, 3i Infotech and Mahindra Satyam gained 1-3%.

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