SENSEX FLAT WITH NEGATIVE BIAS; RBI POLICY IN FOCUS
DATE: 17/04/2012
Indian markets continued to rally in early trade for the second day on Tuesday. The 30-share benchmark index, BSE Sensex opened with a gain of 50.02 points or 0.29% at 17,200.97, while the broad based NSE Nifty started with a rise of 40.40 points or 0.77%, at 5,266.60.
At 09.21 a.m., the Sensex was trading down 6.26 points or 0.04% at 17,144.69 with 15 components falling. Meanwhile, the Nifty was trading lower by 0.05 points or 0.00% at 5,226.15 with 29 components falling.
``The softening of core inflation, along with the IIP data could prompt the RBI to go for a token 25 bps cut in the repo rate. With the liquidity situation improving in the past few days, one doubts if the RBI will cut the CRR further,``
``The softening of core inflation, along with the IIP data could prompt the RBI to go for a token 25 bps cut in the repo rate. With the liquidity situation improving in the past few days, one doubts if the RBI will cut the CRR further,``
Sensex Movers
Reliance Industries contributed fall of 9.3 points in the Sensex. It was followed by H D F C Bank (8.43 points), I C I C I Bank (7.84 points), I T C (6.41 points) and Housing Development Finance Corporation (4.51 points).
However, Tata Motors contributed rise of 6.25 points in the Sensex. It was followed by Tata Consultancy Services (4.95 points), Infosys (3.34 points), Sterlite Industries (India) (2.35 points) and Tata Steel (2.09 points).
Biggest gainers in the 30-share index were Coal India (2.59%), Sterlite Industries (India) (1.22%), Tata Motors (1.03%), Cipla (0.99%), Hero Honda Motors (0.66%), and Tata Consultancy Services (0.66%).
On the other hand, Sun Pharmaceutical Industries (0.84%), H D F C Bank (0.71%), I C I C I Bank (0.66%), G A I L (India) (0.58%), Reliance Industries (0.57%), and I T C (0.41%) were the biggest losers in the Sensex.
Mid & Small-cap Space
The BSE Mid and small caps outperformed their larger counterparts gaining 0.13% and 0.21% respectively.
The major gainers in the BSE Midcap were Alstom Projects India (0.42%), CORE Education and Technologies (0.4%), Amtek Auto (0.3%), Andhra Bank (0.24%) and A B G Shipyard (0.08%).
The major gainers in the BSE Smallcap were Alembic (1.76%), INEOS ABS (India) (0.56%), Advanta India (0.49%), A2Z Maintenance & Engineering Services (0.44%) and Aegis Logistics (0.24%).
The major gainers in the BSE Midcap were Alstom Projects India (0.42%), CORE Education and Technologies (0.4%), Amtek Auto (0.3%), Andhra Bank (0.24%) and A B G Shipyard (0.08%).
The major gainers in the BSE Smallcap were Alembic (1.76%), INEOS ABS (India) (0.56%), Advanta India (0.49%), A2Z Maintenance & Engineering Services (0.44%) and Aegis Logistics (0.24%).
Sectors in Limelight
The Metal index was at 11,029.18, up by 70.41 points or by 0.64%. The major gainers were Coal India (2.59%), Bhushan Steel (0.38%), JSW Steel (0.23%), Hindalco Industries (0.16%) and Hindustan Zinc (0.04%).
The IPO index was at 1,564.96, up by 9.41 points or by 0.60%. The major gainers were Coal India (2.59%), Claris Lifesciences (1.41%), Commercial Engineers and Body Builders Company (0.94%), Jaypee Infratech (0.83%) and Mandhana Industries (0.06%).
The IT index was at 5,405.22, up by 27.46 points or by 0.51%. The major gainers were Hexaware Technologies (0.91%), CORE Education and Technologies (0.4%), Oracle Financial Services Software (0.36%), Infosys (0.24%) and H C L Technologies (0.22%).
On the other hand, the Bankex index was at 11,952.01, down by 76.6 points or by 0.64%. The major losers were H D F C Bank (0.71%), Canara Bank (0.24%), Bank Of Baroda (0.23%), Bank Of India (0.16%) and Federal Bank (0.1%).
Market Breadth
Market breadth was negative with 501 advances against 391 declines.
Value and Volume Toppers
State Bank Of India topped the value chart on the BSE with a turnover of Rs. 102.59 million. It was followed by Infosys (Rs. 53.52 million), Tata Motors (Rs. 46.16 million) and Gravita India (Rs. 32.86 million).
The volume chart was led by Cals Refineries with trades of over 1.56 million shares. It was followed by Spicejet (0.64 million), Kingfisher Airlines (0.49 million) and MT Educare (0.31 million).
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