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Sensex ends above 14k, Nifty tops 4200

This article was posted on Jul 15, 2009 and is filed under Market News

Sensex surged 400 points or 2.8% to end at 14,253 while, Nifty surged 122 points or 2.9% to shut shop at 4,233.

It was another day of gains on Dalal Street as the Indian markets extended the winning streak to second straight trading session on Wednesday. The BSE Sensex recouped almost 900 points while, the NSE Nifty recovered nearly 260 points in last couple of days.

The Sensex finally surged by 400 points or 2.8% to end at 14,253 after touching a high of 13,299 and a low of 13,891. The index had opened at 13,917 against the previous close of 13,853.

The NSE Nifty surged 122 points or 2.9% to shut shop at 4,233.

Asian markets ended in the positive terrain; the Nikkei index in Japan gained 0.3% at 9,269, Australia’s S&P/ASX ended higher by 1.5% at 3,924. Hang Seng index gained 2% at 18,258.

Elsewhere in the Europe, stocks were trading in green. The FTSE index was up 1.4% at 4,297. The DAX index was up 0.1.6% at 4,861. CAC 40 index was up 1.4% at 3,125.

Coming back to India, among the BSE Sectoral indices BSE Realty index was the top gainer surging 8%, followed by the BSE Metal index up 5.6%, BSE Power index up 5% and BSE Capital Goods index up 4.7%.

Even the broader indices ended in the green, the BSE Mid-Cap index surged 4.1% and the BSE Small-Cap index rose 4.5%.

In the Sensex, the major gainers were Hindalco, JP Associates, DLF, Hero Honda, BHEL, Tata Steel, Tata Motors and Rcom.

On the other hand, Infosys was the only loser among the 30-components of Sensex.

Outside the frontline indices, the top gainers included Bhushan Steel, Indiabulls Real Estate, LITL, Ackruty City, Opto Circuit, IFCI, Welspun Guj and RNRL.

Among the big losers in the broader market were Jubilant Org, EIH Limited, KSK Energy, Union Bank, Max India and GTL Limited.

Shares of Adani Enterprise shot up by over 8% to Rs801. Adani Power Limited, a power project development company, promoted by Adani Enterprises is entering the capital markets with an IPO of 301,652,031 equity shares of Rs10 each for cash at a price to be decided through a 100% book-building process.

The Bid/ Issue opens on July 28, 2009, and closes on July 31, 2009.

Shares of Indiabulls Real Estate rallied by over 13% to Rs215 after reports stated that Indiabulls Power the 100% subsidiary of Indiabulls Real Estate is planning to raise Rs15bn through an IPO in August this year. The company is expected to file its draft red herring prospectus in a week’s time, added reports.

Indiabulls Power plans to offer ~340mn equity shares for sale in the primary market. Following the move Indiabulls Real Estate’s holding will drop down from the current 71.4% to 57.8%.

The stock opened at Rs193 and made an intra-day high of Rs224 and a low of Rs193. Total traded volumes stood at 6.9mn shares on BSE.

Bharti Airtel and MTN Group are expected to confirm the details of the deal in the coming weeks, media reports stated. MTN, on July 6 had announced that it was still in talks with Bharti about a possible merger.

Shares of Bharti Airtel gained by 1% to Rs780. The stock opened at Rs794 and made an intra-day high of Rs794 and a low of Rs777. Total traded volumes stood at 0.29mn shares on BSE.

Shares of IDBI Bank surged by over 5.6% to Rs100 after the bank posted a net profit of Rs1718.30mn for the quarter ended June 30, 2009 as compared to Rs1597.60mn for the quarter ended June 30, 2008.

The total Income has increased from Rs27561.50mn for the quarter ended June 30, 2008 to Rs42189.10mn for the quarter ended June 30, 2009.

Shares of Infotech Entreprises have shot up by 15% to Rs202 after the company posted net profit of Rs462.6mn as compared to Rs245.6mn for the quarter ended 30th June 2008.

The net sales stood at Rs2326mn for the quarter ended 30th June 2009 as compared to Rs2006.1mn for the quarter ended 3oth June 2008.

Shares of 3i Infotech surged by over 4% to Rs72 after the company announced that it has entered into an agreement with Yucheng Technologies Ltd (Yucheng) (the JV partner of the company in China) to acquire the 49% stake from Yucheng in order to make Elegon Infotech Ltd a wholly owned subsidiary of the Company in China.

The stock opened at Rs70 and made an intra-day high of Rs73 and a low of Rs70.45. Total traded volumes stood at 0.5mn shares on BSE.

Shares of OnMobile Global climbed over 13% to Rs516 after the Company signed business agreements with Telefonica Internacional, S.A.U. Spain (Telefonica), for exclusive and non-exclusive market rights, thereby enabling the Company to deploy various Valde Added Services including RBT, Music radio, Soccer portal, Voice Search, and several other VAS services in the Latin American telecommunication markets where Telefonica operates over the next few years.

Most of the major VAS services will be launched by Telefonica on an exclusive basis with OnMobile.

source: Indiainfoline

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