Markets on 24th June

Indian markets ended the week on a cheerful note led by interest sensitives like Auto, Banks, and Realty after sharp fall in crude oil prices. At the close, the benchmark 30-share index, BSE Sensex added 513.19 or 2.89% at 18,240.68 with 28 components posting rise. Meanwhile, the broad based NSE Nifty went up by 151.25 or 2.84% at 5,471.25 with 48 components posting rise.

Crude oil prices plunged on Thursday after the International Energy Agency releases 60 million barrels of oil into the market to cool prices. Brent crude lost USD 6.95, or 6.1%, to settle at USD 107.26 per barrel on the ICE Futures exchange.

In a bid to bring some respite to the bleeding oil marketing companies (OMCs), the Empowered Group of Ministers (EGoM) headed by finance minister Pranab Mukherjee will meet at 7 pm today to review the diesel and domestic LPG prices. 

``Any hike in diesel and LPG prices will be well received by the markets. On the flip side, any move contrary to market expectations could be disappointing. Next week will be action-packed with an added dose of volatility due to the F&O expiry. With July 1st falling on the last trading day, the markets will also closely watch data on auto and cement sales, besides economic statistics on trade and manufacturing. At the same time, global events will continue to have some bearing on local sentiment. Greece and the US economy will remain in focus. Chinese manufacturing PMI data will also be on the investors` radar,`` says Amar Ambani, Head of Research, IIFL.

Sensex Movers

Infosys contributed rise of 54.53 points in the Sensex. It was followed by I C I C I Bank (50.52 points), Larsen & Toubro (49.97 points), State Bank Of India (48.01 points) and Housing Development Finance Corporation (47.87 points).

However, Reliance Infrastructure contributed fall of 0.91 points in the Sensex. It was followed by Reliance Industries (0.57 points), Sun Pharmaceutical Industries (0.63 points), Reliance Communications (2.75 points) and ACC (3.12 points).

Major gainers in the 30-share index were Hero Honda Motors (6.07%), State Bank Of India (5.95%), Jaiprakash Associates (4.55%), Housing Development Finance Corporation (4.46%), Larsen & Toubro (4.25%), and Tata Steel (3.92%).

On the other hand, Reliance Energy (0.84%), and Reliance Industries (0.03%) were the major losers in the Sensex.

Mid & Small-cap Space

The BSE Mid and small caps underperformed their larger counterparts gaining 2.26% and 1.80% respectively.

The major gainers in the BSE Midcap were A B G Shipyard (7.07%), Aban Offshore (2.82%), Core Projects and Technologies (2.04%), Alstom Projects India (1.34%) and A2Z Maintenance & Engineering Services (1.34%).

The major gainers in the BSE Smallcap were Aarti Industries (7%), Trident (2.53%), INEOS ABS (India) (2.3%), A B G Infralogistics (0.73%) and A K Capital Services (0.69%).

Sectors in Limelight

The Realty index was at 2,000.71, up by 72.44 points or by 3.76%. The major gainers were Indiabulls Real Estate (5.22%), Anant Raj Industries (3.13%), D L F (2.85%), Ackruti City (1.27%) and Mahindra Lifespace Developers (0.15%).

The Metal index was at 14,573.34, up by 478.97 points or by 3.40%. The major gainers were JSW Steel (4.62%), Hindalco Industries (3.66%), Jindal Steel & Power (3.14%), Bhushan Steel (3.08%) and Hindustan Zinc (1.63%).

The IT index was at 5,991.76, up by 195.30 points or by 3.37%. The major gainers were H C L Technologies (4.92%), Mphasis (3.19%), Infosys (3.17%), Core Projects and Technologies (2.04%) and Oracle Financial Services Software (1.05%).

On the other hand, the Consumer Durables index was at 6,497.69, down by 148.7 points or by 2.24%. The major losers were Titan Industries (5.33%), Rajesh Exports (0.69%) and Bajaj Electricals (0.04%).

Market Breadth

Market breadth was positive with 2,009 advances against 880 declines.

Value and Volume Toppers

State Bank Of India topped the value chart on the BSE with a turnover of Rs. 1,543.60 million. It was followed by G T L (Rs. 1,327.44 million), Timbor Home (Rs. 1,006.32 million) and Lovable Lingerie (Rs. 1,002.08 million).

The volume chart was led by Cals Refineries with trades of over 29.39 million shares. It was followed by G T L (12.10 million), Timbor Home (11.41 million) and Spicejet (10.37 million).