Mumbai, Jul 30: The Nifty ended the July series on a strong note and closed above the 4550 level. Today's rally was led by shares of financial, technology, FMCG, cement, power, metal and oil marketing companies.
However, continuous selling in heavyweights like Reliance Industries, BHEL and in stocks like PNB, Jindal Steel, Sun Pharma, Tata Power, ABB, Nalco and Suzlon Energy capped the gains to some extent.
Financials were the major gainers post the strong numbers from SBI, India's largest bank. The bank's Q1FY10 net shot up 42 pc to Rs 2,330 crore and net interest income (NII) up 4.32 pc to Rs 5,026 crore, which was above the estimates of Rs 2,020 crore and NII at Rs 4,984.8 crore, respectively. The stock shot up 4 pc.
The BSE Bankex jumped 2.2 pc, as ICICI Bank and HDFC Bank jumped 3 pc each. Kotak Mahindra and Bank of Baroda were up 0.7 pc each. HDFC was up 3 pc. However, PNB plunged 5.72 pc.
Mkts positive; TCS, Wipro, SBI up
At 01:04 PM, buying in shares of technology, banking, metal, oil marketing, power, realty along with ONGC and HUL was helping the markets to stay on the higher side. However, the volatility was not yet out of the markets ahead of Ju expiry.
SBI Q1 numbers were above the estimates and reported 42 pc jump in net profit with 4 pc rise in net interest income. The stock moved up 2.5 pc. ICICI Bank and HDFC Bank were up over 2 pc.
However, selling continued in Reliance Industries, Bharti Airtel, BHEL, PNB (lost 6 pc), Sun Pharma (bad Q1 numbers, down 5.5 pc), ITC, Nalco, ABB, Siemens, Maruti, Sterlite and ACC. These were adding some volatility.
The Sensex was up 73 points, to 15,246 and the Nifty rose 17.5 points, to 4,531. The broader indices were up 0.6-0.9 pc. About 1551 shares advanced while 1180 shares declined on the BSE. Nearly 439 shares were unchanged.
In the largecaps, TCS, HUL, HDFC, SBI, Wipro, NTPC, BPCL and SAIL were up 1-3.6 pc. Tata Steel, DLF, HDIL, Suzlon Energy, Unitech and SBI were most active shares on the bourses.
Mkts negative; Tata Steel, L&T, ABB dip
At 10:42 am, the Sensex was witnessing choppiness with negative bias and the Nifty was struggling at the 4500 mark. Shares of oil & gas exploration, capital goods, power and select telecom stocks were under pressure.
However, SBI (ahead of numbers), Power Grid (after good Q1 numbers), Wipro, HUL, HDFC, Infosys, BPCL (crude tanked nearly 6 pc), TCS, Ambuja Cements, M&M and Hero Honda were the gainers and capped the losses to some extent.
The Nifty fell 16 points, to 4,496 and the Sensex lost 32 points, to 15,141. The broader indices were quiet in trade. About 510 shares advanced while 602 shares declined on the NSE. The Nifty August future was trading with 4-5 points premium.
Top losers were Tata Steel was at Rs 427, down 3.37 pc; Hindalco was at Rs 93.10, down 1.64 pc; Sun Pharma was at Rs 1,171, down 1.45 pc; L&T was at Rs 1,443.90, down 1.28 pc; Tata Power was at Rs 1,286.30, down 1.24 pc; PNB was at Rs 703, down 5.97 pc; Cairn India was at Rs 227, down 3.3 pc; NALCO was at Rs 290.70, down 2.81 pc and ABB was at Rs 684.60, down 2.19.
Nifty opens weak, broader indices flat
The Nifty opened on a weak note following negative cues from the Asian markets. But both the equity benchmarks turned extremely volatile ahead of F&O expiry. Commodities and real estate stocks slipped in the early trade.
At 9:56 am, the Nifty lost just 9 points, to 4,503 and the Sensex fell 9 points, to 15,164. The broader indices were flat in trade.
Among the frontliners, Cairn (post numbers), Tata Steel (post numbers), PNB, SAIL (ahead of numbers), Suzlon Energy (post Hansen numbers), Reliance Industries, Nalco, Sterlite, ITC, ONGC, DLF (ahead of numbers), Unitech and L&T were under pressure.
However, Hero Honda was up 1.5 pc post numbers. Power Grid (post numbers), Reliance Power, SBI, Infosys and HDFC were the other gainers.
In Midcap space, Hexaware Tech, RNRL, Great Offshore, ABG Shipyard (4 pc up), Bharati Shipyard, Provogue India, TVS Motor and Gammon India were under pressure. UCO Bank was up 1.5 pc ahead of numbers.
EID Parry surged 5.5 pc and Rico Auto was up 5.5 pc as well. Patni Computer surged 3 pc on good numbers. VIP was up 11.5 pc adn Maytas Infra rose 3 pc.