FIRST LIGHT HEADINGS
ONGC to acquire 25% stake in the Satpayev exploration block in
Dr Reddy’s Lab launches over the counter Fexofenadine HCI tablets
HUL to venture into sub-segments with re-launches and brand extensions
Reliance Ind commences implementation of world-scale polyester projects in India
Titan Industries plans to open 100 premium watch store in next three-year
ACC aims market share to cross 11% this year
Corporation Bank expects 25% credit growth in 2011-12
MARKET INSIGHT
On Wednesday 13 April 2011,the market opened lower for the fourth consecutive session tracking weak global trend followed by lower closing in the US market. The markets across the globe emerged weak after Japan said that the crisis at its crippled nuclear plant was as serious as the 1986 Chernobyl accident. However, the domestic markets showcased smart rebound in the mid morning session as decline in the crude oil prices which eased macro economics concerns coupled with the surge of the Asian peers boosted the markets sentiment thereby letting the benchmark indices trade above its physiological level of 19300 (Sensex) and 5800 (Nifty) level respectively. The local equity markets after this never looked back and progressed for the day left over with the sustained momentum of the key heavyweights such as those of Reliance Industries and Infosys and HDFC. It was the stocks from Auto, Capital Goods and Bankex which drove the market higher. However, the markets approaching the last hour of trade drove to its intra day's high and ended close to it as buying in blue chip stocks gathered greater momentum after the international crude oil prices pared all the intraday gains and extended their weak run after trading at elevated levels in the recent past.
The BSE Sensex zoomed 434.32 points or 2.25% and settled at 19,696.86. The index touched a high and a low of 19,737.33 and 19,101.63 respectively. 28 stocks advanced against 2 declining one's on the index. The BSE Mid-cap and Small-cap indices garnered a gain of 1.40% and 1.30%, respectively. On the Bombay Stock Exchange sectoral front Capital Goods index was up 2.73%, Auto was up 2.54%, Bankex was up 2.32%, FMCG up 2.24% and IT was up 2.15%, while there were no laggards in the BSE sectoral space. (Provisional)
India VIX, a gauge for market's short term expectation of volatility declined 3.90% at 20.41 from its previous close of 21.24 on Monday.The S&P CNX Nifty accelerated 125.80 points or 2.17% and settled at 5,911.50. The index touched high and low of 5,923.60 and 5,735.55, respectively.46 stocks advanced against 4 declining one's on the index. (Provisional)
All the Asian equity indices finished the day's trade in the positive terrain on Wednesday led by Japanese Nikkei which rose about one percent as country's carmakers climbed after Nomura Holdings Inc. said they were 'oversold' and oil prices witnessed some ease. Moreover Chinese Shanghai closed with a gain of about on percent as gains in financials and real estate plays outweighed losses in resources firms. Other indices like Seoul Composite, Straits Times and KLSE Composite too witnessed good gain on Wednesday.
Meanwhile, India and European Union (EU) have made considerable progress in narrowing down the remaining differences in some of the crucial areas of ongoing negotiations for the ambitious trade treaty. The two sides have been engaged in negotiations for a free trade area (FTA) treaty since last four years and are likely to reach an agreement soon.
Read more about Equity Research Report By Mansukh.
The BSE Sensex zoomed 434.32 points or 2.25% and settled at 19,696.86. The index touched a high and a low of 19,737.33 and 19,101.63 respectively. 28 stocks advanced against 2 declining one's on the index. The BSE Mid-cap and Small-cap indices garnered a gain of 1.40% and 1.30%, respectively. On the Bombay Stock Exchange sectoral front Capital Goods index was up 2.73%, Auto was up 2.54%, Bankex was up 2.32%, FMCG up 2.24% and IT was up 2.15%, while there were no laggards in the BSE sectoral space. (Provisional)
India VIX, a gauge for market's short term expectation of volatility declined 3.90% at 20.41 from its previous close of 21.24 on Monday.The S&P CNX Nifty accelerated 125.80 points or 2.17% and settled at 5,911.50. The index touched high and low of 5,923.60 and 5,735.55, respectively.46 stocks advanced against 4 declining one's on the index. (Provisional)
All the Asian equity indices finished the day's trade in the positive terrain on Wednesday led by Japanese Nikkei which rose about one percent as country's carmakers climbed after Nomura Holdings Inc. said they were 'oversold' and oil prices witnessed some ease. Moreover Chinese Shanghai closed with a gain of about on percent as gains in financials and real estate plays outweighed losses in resources firms. Other indices like Seoul Composite, Straits Times and KLSE Composite too witnessed good gain on Wednesday.
Meanwhile, India and European Union (EU) have made considerable progress in narrowing down the remaining differences in some of the crucial areas of ongoing negotiations for the ambitious trade treaty. The two sides have been engaged in negotiations for a free trade area (FTA) treaty since last four years and are likely to reach an agreement soon.
Read more about Equity Research Report By Mansukh.
