Friday, July 13, 2007

Small-cap, mid-cap shares sizzle; Silverline Technologies Ltd hits another buyer freeze: Noida Toll Bridge Ltd and Southern Online Bio Technologies Ltd near the upper circuits:There is no stopping of Zigma Software Ltd:Keep Accumulating Ansal Buildwell Ltd, as the market gives thumbs up to Real Estate Sector: Another Multi-bagger is coming on Monday: Premium Members Enjoy to your heart's content:
Maintaining the morning's strong momentum fuelled by firm global markets, the domestic market reamined firm in late morning trade as buying interest continued at higher level. Shares across the board including small and mid-caps rallied. At 11:30 IST, the 30-share BSE Sensex was up 226.17 points to 15,318.21. It opened higher at 15,216.83, and rallied to strike an all-time high of 15,322.04 at 10:39 IST as buying intensified. The market breadth was strong on BSE with over 1.5 gainers for every loser: 1,494 shares advanced as compared to 967 that declined, while 76 remained unchanged. The BSE Mid-Cap index was up 0.70% to 6,830.15 and the BSE Small-Cap index rose 0.74% to 8,276.47. The BSE Mid-Cap index struck an all-time high of 6,863.71, and so also the BSE Small-Cap index at 8,320.47. Gujarat Mineral Development Corporation (up 12.26% to Rs 957), KEC Infrastructures (up 11.57% to Rs 32.30), Shree Precoated Steels (up 7.47% to Rs 413), Man Industries (up 8% to Rs 300), and Nitin Fire (up 6.92% to Rs 461) surged from the small and mid-caps pack. The total turnover on BSE amounted to Rs 2,583 crore Among the Sensex pack, 24 scrips were trading up. Aluminiun and copper major Hindalco Industries galloped 6.72% to Rs 175.55, on high volumes of 33.82 lakh shares. It was the top gainer from the Sensex pack. The stock rose on hopes of consolidation in global aluminium industry after global miner Rio Tinto today, 13 July 2007, launched a $38.1-billion offer to buy Canada's Alcan Inc. in an agreed deal to create the world's No. 1 aluminium producer, feeding expectations for more deals. Rio trumped a hostile bid by Alcoa Inc., which is now seen vulnerable to becoming a takeover target itself. Capital goods shares saw buying as investors bet on their strong order book position. State-run engineering major Bhel was trading 3.96% higher to Rs 1,706.35 after striking an all-time high of 1,715. L&T was up 2% to Rs 2,425 after hitting an all-time high of Rs 2,450. Larsen & Toubro today bagged two contracts worth Rs 853 crore. Reliance Industries was up 2.67% to Rs 1,765, on 5.03 lakh shares. The government has set up a Group of Ministers (GoM) to look into all aspects - production to pricing - of gas to be produced from newer areas, particularly in the deep sea. The GoM, headed by External Affairs Minister Pranab Mukherjee, would decide on production, utilisation, transportation and pricing of gas. IT stocks stayed under pressure. IT major TCS lost the most among the Sensex pack. It was down 1.57% to Rs 1143 on 94,357 shares. But IT bellwether Infosys was up 0.7% to Rs 1936.55 on renewed speculation it may bid for Capgemini. The rupee was steady on Friday, 13 July 2007 despite the dollar's weakness against some currencies and surging stocks, as traders were worried that the RBI may again intervene aggressively to curb gains. At 10:05 IST, the partially convertible rupee was at 40.50/40.51, unchanged from the previous close. Pharma shares saw some unwinding. Cipla (down 0.63% to Rs 212.15), Ranbaxy Laboratories (down 0.73% to Rs 356), and Dr Reddy’s Laboratories (down 0.32% to Rs 680.15) edged lower. Asian markets rallied on Friday, 13 July 2007, buoyed by a strong overnight rally on the Wall Street, with indices in South Korea, Singapore and Taiwan hitting record highs. Hong Kong's Hang Seng (up 1.39% at 23,125.78), Japan's Nikkei (up 1.40% at 18,235.15), Taiwan's Taiwan Weighted (up 1.25% at 9,471.30), Singapore's Straits Times (up 1.29% at 3,671.29) and South Korea's Seoul Composite (up 2.12% at 1,950.19) edged higher. China Shanghai Composite was up 0.40% to 3,931.68 Wall Street shares soared on Thursday, 12 July 2007, propelling the Standard & Poor's 500 index and Dow Jones Industrials Average to record highs as investors tossed aside concerns about the health of the economy amid sluggish retails sales. The Dow Jones surged 283.86 points, or 2.09%, to 13,861.73. Thursday's rally was the biggest one-day percentage gain for the blue chip index since October 2003 and the biggest single-session point gain since October 2002. The Dow also reached a new trading high of 13,869.94. The S&P 500 rose 28.94 points, or 1.91%, to 1,547.70, above its record close of 1,539.18, set on 4 June 2007. The Nasdaq Composite index rose 49.94 points, or 1.88%, to 2,701.73. Still, the index, bloated by the late 1990s tech boom, is nowhere near its closing record of 5,048.62, set in March 2000. The government will release inflation data for the year through 30 June 2007 by today, 13 July 2007, afternoon. Inflation stood at 4.13% in the year through 23 June 2007. Inflation has remained below the RBI’s targeted level of 5% in recent weeks. It fell to a 14-month low of 4.03% in mid-June 2007. Annual inflation hit 6.69% on 27 January 2007, the highest in more than two years. As per provisional data, foreign institutional investors (FIIs) bought shares worth a net Rs 614.08 crore, while domestic institutional investors (DIIs) were net buyers of shares worth Rs 28.86 crore on 12 July 2007.

No comments: