ndian markets have made a flat start of the new
week; there is some cautiousness on the street ahead of the vote in
Parliament on FDI in retail, a step that could pave the way for further
measures to revive the economy. The global cues too were not very
supportive as the US markets ended flat on Friday, while the Asian peers
were not in an enthusiastic mood despite good economic cues from China
and Japan. On the domestic front too, there is not much that could
support the markets to move up, as according to a private survey
Corporate India's confidence level has declined in the second quarter of
the current financial year on unfavourable local and global business
environment. However, investment banker Morgan Stanley has raised
India's FY13 GDP growth forecast to 5.4 per cent from 5.1 per cent,
citing better-than-expected GDP growth for the September quarter. Back
on street, the broader markets are outperforming the benchmarks, while
on sectoral front Capital Goods and metal has taken the lead with gain
of about a percent, though most of other sectors too are in green but
FMCG is witnessing some profit booking.
The BSE Sensex opened at 19,392.53; just 3 points higher compared to its previous closing of 19,339.90, and has touched a high and a low of 19,416.45 and 19,318.14 respectively. The index is currently trading at 19,392.53, up by 52.63 or 0.27%. There were 16 stocks advancing against 14 declines on the index.
The market breadth on the BSE was positive; there were 1,192 shares on the gaining side against 614 shares on the losing side while 70 shares remain unchanged. The broader indices were outperforming benchmarks; the BSE Mid cap and Small cap indices rose 0.87% and 0.68% respectively.
The top gaining sectoral indices on the BSE were, Capital Goods up by 0.91%, Metal up by 0.90%, Realty up by 0.70%, Auto up by 0.66% and PSU index was up by 0.51%, while FMCG down by 0.08% was the lone loser on the index.
The top gainers on the Sensex were Maruti Suzuki up by 1.52%, M&M up by 1.21%, Tata Steel up by 1.04%, SBI up by 0.73% and Dr Reddy's lab was up by 0.73%.
On the flip side, HDFC Bank down by 1.34%, ONGC down by 1.17%, NTPC down by 1.14%, Sun Pharma down by 0.95% and Cipla down by 0.85% were the top losers on the Sensex.
Meanwhile, core industries' output grew 6.5% in October 2012. This overall performance is much better than the 0.4% growth recorded in October last year. During April-October 2012-13, the cumulative growth rate of the core industries was 3.7% as against their growth at 4.3% during the corresponding period in 2011-12. The growth spike in October is largely attributed to the robust output growth in coal (10.9 per cent) and petroleum refinery products (20.3 per cent).
Coal production with a weight of 4.38% in the index, registered a growth of 10.9% in October 2012 compared to its negative growth at (-) 8.8% in October 2011.Coal production recorded a growth of 8.7% during April-October 2012-13 compared to its negative growth at (-) 5.4% during the same period of 2011-12. Petroleum refinery production with a weight of 5.94% in IIP index grew by 20.3% in October 2012 compared to its growth at (-) 2.9% in October 2011. While in cumulative terms, Petroleum refinery production registered a growth of 7.3% during April-October 2012-13 compared to its 3.5% growth during the same period of 2011-12.
The S&P CNX Nifty opened at 5,878.25; slightly lower from its previous closing of 5,879.85, and has touched a high and a low of 5,899.15 and 5,868.15 respectively. The index is currently trading at 5,868.55, down by 11.30 points or 0.19%. There were 25 stocks advancing against 25 declines on the index.
The top gainers of the Nifty were UltraTech Cement up by 2.76%, Maruti Suzuki was up by 1.57%, M&M up by 1.10%, SBI up by 0.86% and Dr Reddy's up by 0.83%.
On the flip side, IDFC down by 1.76%, HDFC Bank down by 1.37%, Kotak Bank down by 1.33%, NTPC down 1.17% and Axis Bank down by 1.09% were the top losers on the Nifty.
The Asian markets were showing mixed trend; Shanghai Composite was up by 0.28%, KLSE Composite down by 0.17%, Jakarta Composite was down by 0.01% and Taiwan Weighted was down by 0.21%.
On the other hand, Hang Seng was up by 0.14%, Nikkei 225 gained 0.52%, Seoul Composite gained 0.30% and Straits Times was up by 0.24%.
The BSE Sensex opened at 19,392.53; just 3 points higher compared to its previous closing of 19,339.90, and has touched a high and a low of 19,416.45 and 19,318.14 respectively. The index is currently trading at 19,392.53, up by 52.63 or 0.27%. There were 16 stocks advancing against 14 declines on the index.
The market breadth on the BSE was positive; there were 1,192 shares on the gaining side against 614 shares on the losing side while 70 shares remain unchanged. The broader indices were outperforming benchmarks; the BSE Mid cap and Small cap indices rose 0.87% and 0.68% respectively.
The top gaining sectoral indices on the BSE were, Capital Goods up by 0.91%, Metal up by 0.90%, Realty up by 0.70%, Auto up by 0.66% and PSU index was up by 0.51%, while FMCG down by 0.08% was the lone loser on the index.
The top gainers on the Sensex were Maruti Suzuki up by 1.52%, M&M up by 1.21%, Tata Steel up by 1.04%, SBI up by 0.73% and Dr Reddy's lab was up by 0.73%.
On the flip side, HDFC Bank down by 1.34%, ONGC down by 1.17%, NTPC down by 1.14%, Sun Pharma down by 0.95% and Cipla down by 0.85% were the top losers on the Sensex.
Meanwhile, core industries' output grew 6.5% in October 2012. This overall performance is much better than the 0.4% growth recorded in October last year. During April-October 2012-13, the cumulative growth rate of the core industries was 3.7% as against their growth at 4.3% during the corresponding period in 2011-12. The growth spike in October is largely attributed to the robust output growth in coal (10.9 per cent) and petroleum refinery products (20.3 per cent).
Coal production with a weight of 4.38% in the index, registered a growth of 10.9% in October 2012 compared to its negative growth at (-) 8.8% in October 2011.Coal production recorded a growth of 8.7% during April-October 2012-13 compared to its negative growth at (-) 5.4% during the same period of 2011-12. Petroleum refinery production with a weight of 5.94% in IIP index grew by 20.3% in October 2012 compared to its growth at (-) 2.9% in October 2011. While in cumulative terms, Petroleum refinery production registered a growth of 7.3% during April-October 2012-13 compared to its 3.5% growth during the same period of 2011-12.
Cement
production which occupies weight of 2.41% in the index, registered a
growth of 6.8% in October 2012 against its 0.3% growth in same month
last year. The cumulative growth of Cement Production was 7.7% during
April-October 2012-13 compared to its 3.3% growth during the same period
of 2011-12. Moreover, Fertilizer production with a weight of 1.25%
registered a growth of 2.0% in October 2012 against its growth at (-)
2.1% in October 2011. While in cumulative terms, Fertilizer production
registered a negative growth of (-) 4.5% during April-October 2012-13
compared to 0.2% growth during the same period of 2011-12.
Furthermore, Steel production along with the
electricity generation with weight 6.68% and 10.32% registered growth
5.9% and 5.2% in month under review against its 4.2% and 5.3% growth in
October 2011. Cumulatively, Steel production registered 3.0% growth
during April-October 2012-13 compared to its 8.7% growth during the same
period of 2011-12. Cumulative growth of Electricity generation was 4.8%
during April-October 2012-13 compared to its 8.7% growth during the
same period of 2011-12. The S&P CNX Nifty opened at 5,878.25; slightly lower from its previous closing of 5,879.85, and has touched a high and a low of 5,899.15 and 5,868.15 respectively. The index is currently trading at 5,868.55, down by 11.30 points or 0.19%. There were 25 stocks advancing against 25 declines on the index.
The top gainers of the Nifty were UltraTech Cement up by 2.76%, Maruti Suzuki was up by 1.57%, M&M up by 1.10%, SBI up by 0.86% and Dr Reddy's up by 0.83%.
On the flip side, IDFC down by 1.76%, HDFC Bank down by 1.37%, Kotak Bank down by 1.33%, NTPC down 1.17% and Axis Bank down by 1.09% were the top losers on the Nifty.
The Asian markets were showing mixed trend; Shanghai Composite was up by 0.28%, KLSE Composite down by 0.17%, Jakarta Composite was down by 0.01% and Taiwan Weighted was down by 0.21%.
On the other hand, Hang Seng was up by 0.14%, Nikkei 225 gained 0.52%, Seoul Composite gained 0.30% and Straits Times was up by 0.24%.
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