Markets pull back as investors bet on beaten down blue chips

1. Markets pull back as investors bet on beaten down blue chips
Market Summary
24-Jul-2012
Despite poor global cues, Indian markets traded largely in positive territory as investors were busy in buying beaten down blue chips.
Concerns of prolonging of the European debt crisis have harmed the investors sentiments globally. Additionally Moody’s decision
to cut its rating outlook for Germany, Netherlands and Luxembourg to negative has added fuel to the fire. U.S markets closed in red
overnight. Asian and European indices were also largely showing similar trends.
Key Quarterly Results
Hindustan Unilever: For the period while the Net Sales increased by 14.33%, Net Profit grown by 112.26% and thereby NPM improved
to 20.87% as compared to 11.24% on y-o-y basis. The stock was up 7.5% on BSE and made its life time high today. (Result)
Wipro: For the period while the Net Sales increased by 22.18%, Net Profit dipped by 5.03% and thereby NPM reduced to 12.96% as
compared to 16.68% on y-o-y basis. The stock was down 2.93% on BSE. (Result)
Ashok Leyland: The Ashok Leyland Ltd. reported a net profit of Rs. 66.94 crore (down 22.4%) on Net Sales of Rs. 3007.35 crore (up
20.51%) for the quarter ended June 30, 2012. The Net Profit Margin (NPM) is reduced to 2.23% as compared to 3.46% on y-o-y basis.
The stock was down 2.1% on BSE today. (Result)
Lupin Limited: For the period while the Net Sales increased by 61.00%, Net Profit grown by 391.04% and thereby NPM improved to
20.07% as compared to 6.58% on y-o-y basis. The stock was up 2.04% on BSE today. (Result)
LIC Housing Finance: For the period while the Net Sales increased by 23.55%, Net Profit dipped by 11.21% and thereby NPM reduced
to 13.04% as compared to 18.15% on y-o-y basis. The stock was up 1.09% on BSE today. (Result)
Back to markets, the market breadth on the BSE closed in negative. Advances and declining stocks were in a ratio of 1335:1431
while 122 scrips remained unmoved.
The BSE Sensex ended at 16918.08, up 40.73 points or 0.24%. The 30 share index touched a high and a low of 16962.74 and
16839.70 respectively. 15 stocks advanced against 14 declining ones on the benchmark index.
The S&P CNX Nifty gained 10.25 points or 0.20% to settle at 5128.20. The index touched high and low of 5144.00 and 5103.25
respectively. 27 stocks advanced against 23 declining ones on the index.
Sensex Nifty
The BSE Mid-cap index moved up to 6112.93 and gained 0.16% while Small-cap index jumped up by 0.13% to 6608.00.
The broader BSE 500 index increased to 6542.05 (up 0.29%) and S&P CNX 500 index rose to 4079.30 (up 0.25%).
The volatility as denoted by INDIA VIX lost 9.06% at 16.97 from its previous close of 18.66 on Monday.
Sectors in action
On the BSE Sectorial front, FMCG (up 1.91%), Consumer Durables (up 1.16%) and Oil & Gas (up 0.84%) were the top gainers.
Capital Goods (down 1.09%), Information Technology (down 0.67%) and Automobile (down 0.11%) were the top losers.
The Angels and the Devils
Hindustan Unilever Limited (up 7.50%), Sterlite Industries ( India ) Limited (up 2.56%), Maruti Suzuki India Limited (up 2.34%), Bharti
Airtel Limited (up 1.42%) and Oil And Natural Gas Corp Ltd (up 1.19%) were the top gainers on the Sensex.
Wipro Ltd (down 2.93%), Larsen And T oubro Limited (down 1.45%), Sun Pharmaceutical Industries Ltd. (down 1.22%), Bharat Heavy
Electricals Limited (down 0.96%) and Mahindra And Mahindra Limited (down 0.90%) were the top losers on the Sensex.
Benchmark Drivers
Hindustan Unilever Limited (42.70 points), Larsen And T oubro Limited (-13.09 points), Reliance Industries Limited (12.31 points),
Infosys Limited (-9.76 points) and Wipro Ltd (-7.64 points) were the major Sensex drivers today.
On the other end Hindustan Unilever Limited (11.14 points), Larsen And T oubro Limited (-4.00 points), Infosys Limited (-3.09 points),
Reliance Industries Limited (3.04 points) and Wipro Ltd (-2.01 points) were the major Nifty movers today.
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