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1. Market Wrap Up
Oct 19, 2010
After opening on a firm note, Indian markets immediately gave away all its gains. Though some recovery was seen in mid-
afternoon session, strong selling led the markets towards new intraday low during the final hour. Mid-cap and Small-cap
indices outperformed the key benchmark indices. IT, Realty and Technology sector saw correction. Sensex broke the
psychological mark of 20000 while Nifty is still trading above the crucial 6000 levels. European shares were trading marginally
lower ahead of results from Goldman Sachs.
Bajaj Auto Ltd posted standalone net profit of Rs. 682.08 crore for the quarter ended September 30, 2010, higher from Rs.
402.83 crore for the corresponding quarter of 2009. Net sales stood at Rs. 4180.91 crore against Rs. 2793.22 crore for the same
quarter of last year.
The BSE 30-share Sensex was down 186 points or -0.92% at 19983 while NSE 50-share Nifty ended the day at 6027 down 49
points or -0.81%.
Stocks Performances
Top 3 Sensex Gainers:
Healthcare Stocks: Biocon (+13%), Glenmark (+5.1%), Panacea Biotech (+4.9%)
Hero Honda (+1.5%),
Rationale: Positive news flow led the sector to gain even on a weak day. Biocon gained after
it inked a deal with Pfizer for Insulin. Moreover at current levels, cautious investors are Cipla (+1.5%),
moving towards defensive sector like healthcare and FMCG and are avoiding high beta ACC (+0.6%)
sectors like Realty.
Top 3 Sensex Losers:
Banking Stocks: ING Vyasa Bank (+9.5%), Federal bank (+4.3%) Infosys(-3.1%),
Rationale: Banking shares are expected to report decent-to-strong earnings growth on the Hindalco (-2.2%),
back of pick-up in credit off-take DLF (-2.2%)
Fertiliser Stocks: Coromandel (+4.7%), GSFC (+4.1%) Top 3 Sectoral Indices:
Rationale: Fertiliser demand is estimated to increase by around 1.5 million tonnes to 27.4 HC (+1.1%),
million tonnes (MT) during the ongoing rabi season compared to the requirement in the last AUTO (+0.3%),
year's winter crop season. The requirement would go up this year due to an expected FMCG (+0.1%)
increase in area under sowing during the rabi season.
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