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Market Wrap Up
Oct 23, 2010
The key benchmark regained strength in today’s trading session as world stocks rose. The market breadth was strong. High
beta technology and IT stocks saw profit booking while consumer durables stocks gained. Index heavyweight Reliance
Industries came off the day's high.
FMCG major Hindustan Unilever rose as Q2 net profit surged. The standalone net profit stood at Rs. 566.12 crore as against Rs.
428.53 crore reported in same quarter last year. Net sales for the quarter grew by 10.7%, driven by 14% volume growth, to Rs.
4680.87 crore compared with Rs. 4228.11 crore for the same quarter of the previous year.
The BSE 30-share Sensex was up 137 points or 0.68% at 20166 while NSE 50-share Nifty ended the day at 6106 up 40 points or
0.66%.
Stocks Performances
Cement Stocks: JK Cement (+4.9%), Amubja Cement (+3.2%), India Cement (+2.8%)
Cement stocks rose on expectations of a revival of demand with South West monsoon over.
Shipping Stocks: ABG Ship (+11.6%), MLL (+7.2%), Bharati Ship (+6.1%), GE Ship (+2.9%)
The Baltic dry index (BDI), which measures freight costs for dry bulk commodities such as
iron ore and coal rose on account of cold weather condition in China
Textile Stocks: Vardhaman (+6.5%), Alok Ind (+6.5%), Arvind (+4.8%), S Kumar (+4.8%)
A surge in demand for clothing in the developing world coupled with the devastating floods
in Pakistan and a heavy monsoon season in China and India have made cotton a highly
sought-after commodity. Due to this, apparel makers have raised prices by more than 15
per cent.
Consumer Durable Stocks: Gitanjali (+11.4%), Trent (+7.5%)
Consumer durables stocks saw renewed buying interest on account of festive season.
Meanwhile, Gitanjali Group is all set to acquire Italy’s DIT Group’s signature brands Stefan
Hafner, Porrati, Nouvelle Bague of Florence and Io Si. for Euro 20 million. Deal will be
wrapped up within a month.
Top 3 Sensex Gainers:
Hindalco (+4.3%),
ACC (+4%),
Tata Motors (+2.8%)
Top 3 Sensex Losers:
Wipro (-4%),
Infosys (-1.1%),
ITC (-1.1%)
Top 3 Sectoral Indices:
CD (+2.4%),
AUTO (+1.2%),
METAL (+1.1%)