Monday, November 29, 2010

Sensex zooms; Nifty back to above 5800

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The 50-share NSE Nifty continued its uptrend and was consistently holding 5800 - a psychologically important level - in the second half of trade. Stocks, which were beaten down in last week's sell-off bounced back in trade today. European markets were also supportive, which gained 0.5-0.9%.

All sectoral indices were in the green; the BSE oil & gas surged 2.7%. IT, Bank, Capital Goods, Teck, Realty, Metal, Auto and Healthcare indices gained 1-1.5%. The broader indices also turned positive with a 0.4% gain.

However, Anil Dhirubhai Ambani Group (ADAG) companies' shares along with Power Grid, Bajaj Auto, Tata Steel, ITC, Siemens, ACC and Axis Bank were on sellers' radar.

The Sensex was trading at 19,422, up 284 points and the Nifty was at 5833, up 80 points. The Nifty December futures were trading at 20 points premium.

Top gainers - Cairn India was trading at Rs 313.20, up 6.53%; Reliance Industries was at Rs 998.35, up 3.74%; Ranbaxy Labs was at Rs 563.85, up 3.28%; Sesa Goa was at Rs 308.85, up 3.10%; Wipro was at Rs 419.50, up 2.94%; TCS was at Rs 1,073.50, up 2.68%; BHEL was at Rs 2,151.10, up 2.43% and ICICI Bank was at Rs 1,152, up 2.41%.

Top losers - Reliance Infrastructure was at Rs 819.50, down 4.02%; Power Grid Corp was at Rs 94.10, down 2.44%; Reliance Communications was at Rs 128.10, up 1.84%; Bajaj Auto was at Rs 1,587.10, down 1.62%; Tata Steel was at Rs 591.35, down 1.24%; ACC was at Rs 996.30, down 0.37% and ITC was at Rs 167.25, down 0.33%.

In midcap space, BGR Energy rallied 17%. MVL, UB Holdings, Shree Renuka and Chambal Fertiliser (GoM to meet on December 3 for urea decontrol) gained 8-9%.

However, Shree Ashtavinayak tumbled 19.92%. Money Matters, Core Projects, Prakash Industries and Escorts slipped 5-10%.

In smallcap space, Kiri Dyes Chemical and English India surged 20% each. Aqua Logistics, Jindal PolyFilm and GSS America Info were up 9.6-15%. However, Bheema Cements, Koutons Retail, Sujana Metal, Sarasind and Jindal Worldwid lost 10%.

About 1490 shares advanced while 1721 shares declined on BSE. Nearly 244 shares were unchanged.


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