Markets reverse intraday losses on strong European cues

1. Markets reverse intraday losses on strong European cues
Market Summary
18-Jul-2012
After opening flat, Indian indices oscillated around yesterday’s close before gaining strength on strong European opening. Nifty
ended up 0.45%.
U.S. markets closed in green overnight on better than anticipated earnings reports and hopes of monetary stimulus. Asian peers
mostly ended in red led by South Korean KOSPI.
Bajaj Auto Q1 Result (standalone): BAL posted a marginal 1% year-on-year rise in net profit at Rs 718.39 crore for the quarter ended
June 30, 2012. Net sales grew 2% at Rs 4,86.57 crore on y-o-y basis. The stock was a star performer on bourses and gained 5.2% on
BSE today. (Detailed Result)
CLSA upgrades CIL: International Investment Banker CLSA upgraded the stock of Coal India Ltd (CIL) to "outperform" from
"underperform" and raised its target price to Rs 390 from Rs 340. CLSA added that the increased production during the April - June
quarter has improved the chances of meeting the production targets agreed upon in fuel supply agreements and thereby has
mitigated the risk of large penalties from failing to meet its delivery threshold. CIL stock was up 1.4% on BSE today.
Inflation, as measured by the Consumer Price Index (CPI), has softened in the month of June to 10.02 per cent versus 10.36 per cent
in May. The CPI for the month of April was 10.26%. Though the CPI has gone down slightly in June, but food prices have gone up as
concerns about monsoon gained momentum. Food inflation in the CPI accelerated to 10.71% in June vs 10.66% in May. (News)
Coming back to markets, the market breadth on the BSE closed in negative. Advances and declining stocks were in a ratio of
1373:1397 while 142 scrips remained unmoved.
The BSE Sensex ended at 17185.01, up 79.71 points or 0.47%. The 30 share index touched a high and a low of 17205.26 and
17038.59 respectively. 22 stocks advanced against 8 declining ones on the benchmark index.
The S&P CNX Nifty gained 23.45 points or 0.45% to settle at 5216.30. The index touched high and low of 5222.85 and 5169.05
respectively. 33 stocks advanced against 17 declining ones on the index.
Sensex Nifty
The BSE Mid-cap index moved up to 6190.76 and gained 0.53% while Small-cap index jumped up by 0.29% to 6657.53.
The broader BSE 500 index increased to 6633.61 (up 0.39%) and S&P CNX 500 index rose to 4139.75 (up 0.41%).
The volatility as denoted by INDIA VIX lost 1.91% at 17.44 from its previous close of 17.78 on Tuesday.
Sectors in action
On the BSE Sectorial front, Metals (up 1.48%), Capital Goods (up 1.07%) and Real Estate (up 0.93%) were the top gainers.
Oil & Gas (down 0.22%), Healthcare (down 0.22%) and Consumer Durables (down 0.11%) were the top losers.
The Angels and the Devils
Bajaj Auto Limited (up 5.20%), T Power Company Limited (up 2.71%), Jindal Steel And Power Limited. (up 2.67%), Sterlite
ata
Industries ( India ) Limited (up 2.43%) and Maruti Suzuki India Limited (up 2.31%) were the top gainers on the Sensex.
T Motors Limited (down 1.93%), Dr. Reddys Laboratories Ltd. (down 1.85%), NTPC Limited (down 0.79%), State Bank of India
ata
(down 0.59%) and Cipla Limited (down 0.56%) were the top losers on the Sensex.
Benchmark Drivers
ICICI Bank (19.96 points), Larsen And Toubro Limited (15.29 points), Bajaj Auto Limited (12.95 points), T Motors Limited (-9.06
ata
points) and Housing Development Finance Corporation Limited (8.67 points) were the major Sensex drivers today.
On the other end ICICI Bank (5.82 points), Larsen And T oubro Limited (3.94 points), Bajaj Auto Limited (3.40 points), T Motors
ata
Limited (-2.33 points) and HDFC Bank (2.19 points) were the major Nifty movers today.
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