Finalaya daily wrap_19dec2012
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Indian markets surged by 0.57% due to supportive global cues and the clearance of a banking bill aimed at enhancing foreign investment in the banking sector. Key indices like the BSE Sensex and Nifty experienced notable gains, with several banking stocks performing well. Additionally, Honeywell Automation's promoter sold a stake to comply with public shareholding norms, while the broader market showed a positive breadth.
Finalaya daily wrap_19dec2012
- 1. Markets rally over half a percentage points on global cues and banking bill LS clearance Market Summary 19-Dec-2012 Indian markets resumed their northward journey on supportive global cues. LS clearance of Banking bill further boosted the investor sentiments persuading key benchmarks to march ahead with gains of about 0.57%. Lok Sabha cleared banking bill Pushing its reform agenda, UPA govt scored one more point as Lok Sabha has cleared the Banking Laws (Amendment) Bill, 2011 aiming at drawing more foreign investment in banking sector and issuing new banking licenses, after Finance Minister P Chidambaram agreed to remove controversial provisions of allowing banks to trade in futures and keeping the sector outside the purview of Competition Commission. The bill would enable Reserve Bank of India (RBI) to issue new banking licences. Most of the banking stocks ended buoyant today. L&T Finance Holdings Ltd hit a new 52 week high at 97.25 today before closing at 93 on BSE. Bankex gained 0.37% . Bank Nifty gained 0.27%. (News) Offers for Sale Honeywell Automation India’s promoter Honeywell Asia Pacific Inc. has sold 6.24 per cent stake in the company for about Rs 130 crore via offer for sale route to comply with SEBI norms of the minimum 25% public shareholding. The stock ended 2.5% up on BSE. (News) Cabinet committee on economic affairs (CCEA) is likely to approve on 22nd December, the 12.5% stake sell of govt owned Rashtriya Chemicals & Fertilizers (RCF) through offer for sale route to comply with SEBI norms. The stock ended 3.35% up on BSE. (News) Back to markets, debt ridden, Suzlon Energy has been excluded by NSE from futures and options (F&O) segment w.e.f. March 1, 2013. The stock closed 0.81% up on BSE.(News) The market breadth on the BSE closed in positive. Advancing and declining stocks were 1608 and 1330 respectively, while 161 scrips remained unmoved. The BSE Sensex ended at 19476.00, up 111.25 points or 0.57%. The 30 share index touched a high and a low of 19516.02 and 19419.76 respectively. 23 stocks advanced against 7 declining ones on the benchmark index. The S&P CNX Nifty gained 32.80 points or 0.56% to settle at 5929.60. The index touched high and low of 5939.40 and 5910.80 respectively. 39 stocks advanced against 11 declining ones on the index. Sensex Nifty The BSE Mid-cap index moved up to 7116.56 and gained 0.55% while Small-cap index jumped up by 0.44% to 7463.51. The broader BSE 500 index increased to 7604.62 (up 0.61%) and S&P CNX 500 index rose to 4755.30 (up 0.58%). The volatility as denoted by INDIA VIX gained 0.21% at 14.47 from its previous close of 14.44 on Tuesday. Sectors in action On the BSE Sectorial front, Automobile (up 1.84%), Healthcare (up 1.58%) and Metals (up 1.49%) were the top gainers. Capital Goods (down 0.62%), FMCG (down 0.38%) and Consumer Durables (down 0.05%) were the top losers. The Angels and the Devils Sun Pharmaceutical Industries Ltd (up 3.44%), Tata Motors Ltd (up 3.29%), Oil and Natural Gas Corporation Ltd (up 3.16%), Wipro Ltd (up 2.55%) and Jindal Steel and Power Ltd (up 2.36%) were the top gainers on the Sensex. Housing Development Finance Corporation Ltd (down 1.83%), Larsen And Toubro Ltd (down 1.36%), ITC Ltd (down 1.18%), ICICI Bank (down 0.89%) and NTPC Ltd (down 0.32%) were the top losers on the Sensex.
- 2. Benchmark Drivers Housing Development Finance Corporation Ltd (-26.97 points), HDFC Bank (26.42 points), ITC Ltd (-22.58 points), Tata Motors Ltd (20.53 points) and Reliance Industries Ltd (17.83 points) were the major Sensex drivers today. On the other end Housing Development Finance Corporation Ltd (-7.06 points), HDFC Bank (6.83 points), Tata Motors Ltd (4.96 points), ITC Ltd (-4.95 points) and Reliance Industries Ltd (4.33 points) were the major Nifty movers today. Pivot, Supports and Resistance Levels S&P CNX Nifty is now pivoted at 5927 for next session. The next support is at 5914 and on upside it has a resistance at 5942 levels. S&P CNX Nifty Eff. Date S3 S2 S1 PIVOT R1 R2 R3 Actual Close 20-Dec-2012 5885 5898 5914 5927 5942 5955 5971 - 19-Dec-2012 5762 5793 5845 5875 5927 5958 6010 5929.60 18-Dec-2012 5807 5829 5843 5865 5879 5901 5915 5896.80 Sensex has a pivot at 19471 with first level of support and resistance at 19425 and 19521 respectively. Sensex Eff. Date S3 S2 S1 PIVOT R1 R2 R3 Actual Close 20-Dec-2012 19329 19374 19425 19471 19521 19567 19618 - 19-Dec-2012 18963 19056 19210 19303 19458 19551 19705 19476.00 18-Dec-2012 19070 19146 19195 19271 19320 19396 19445 19364.75 Follow us on This content is generated at www.finalaya.com and is governed by the Terms of Use.