The domestic equity markets gyrated in a tight band but a positive bias in the mid-morning session as investors awaited weekly inflation figures which are due later in the day. The BSE’s 30-share Sensex continued to trade below the psychological level of 20,000 while the NSE’s 50-share Nifty managed to hold its neck above the crucial 6,000-mark. Oil & gas space was buzzing in trade led by over one and a half percent up-move in index heavyweight RIL. Healthcare, consumer durables and fast moving consumer goods stocks also hogged the limelight at this point of time. The broader indices outperformed their larger peers in trade. The regional peers, however,Tiffany Rings on sale, remained mixed in trade. The Dow future was showing modest cut in screen trade. Meanwhile, the food price inflation which has been a cause of the concern for local investors from past couple of weeks will be watched closely for further cues. The market breadth on the BSE was positive; the gainers thrashed the losers in a ratio of 1768:752 while 86 shares remained unchanged.
The BSE Sensex advanced 80.91 points or 0.41% to 19,953.06. The index touched a high and a low of 20,016.00 and 19,886.12, respectively.
The BSE Mid-cap and Small-cap indices soared 0.85% and 0.99%, respectively. The main gainers in the BSE sectoral space were Oil & Gas up 1.07%, Healthcare (HC) up 1.06%, Consumer Durables (CD) up 0.96%, Fast Moving Consumer Goods (FMCG) up 0.87% and Public Sector Undertaking (PSU) up 0.73%.
On the other hand, Information Technology (IT) down 0.54% and TECk down 0.01% were the only losers in the BSE sectoral space. Meanwhile, India’s gems and jewellery industry continue to post a strong show in exports riding on recovery in demand from the US. According to the data released by the Gems and Jewellery Export Promotion Council (GJEPC), total exports in the month of September registered a growth of whopping 56% to touch $4 billion compared with exports worth $2.6 billion in the same month a year ago. Growth was somewhat milder though in rupee term as the Indian currency has appreciated substantially in September this year as compared with its value in the year-ago period. Total shipment in rupee terms stood at Rs 18,708.96 crore compared with Rs 12,605.36 crore last year, recording a growth of 48.42%. Segment wise analysis of gem and jewellery exports shows that shipments of cut and polished diamonds totalled $2.4 billion, showing a growth of 36.4% compared with the same month last fiscal. Export of gold jewellery on other hand totalled $1.5 billion, up 113.5% on annual basis. The major gainers on the Sensex were Bharti Airtel up 1.84%, RIL up 1.75%, Cipla up 1.55%, RCom up 1.24% and SBI up 1.15%.
The major losers on the index were ACC down 1.54%, Infosys down 1.20%,Tiffany Necklaces on sale, HDFC down 0.43%,bracelets, Tata Power down 0.35% and Wipro down 0.28%.
The Indian government on Wednesday released the All-India Consumer Price Index Numbers for Agricultural Labourers (CPI-AL) and Rural Labourers (CPI-RL) (Base 1986-87=100) for September, 2010. The two indices registered a growth of 5 and 6 points respectively in the month under review to stand at 562 for both the series.
The annual rate of inflation computed on point to point basis based on the CPI-AL and CPI-RL decreased from 9.65% and 9.66% respectively in August, 2010 to 9.13% and 9.34% in September, 2010. Corresponding rates of inflation during September, 2009 were 13.19% and 12.97%. The decline observed in September this year was due to the fact that increase in indices was greater in the year-ago period. In other words, while consumer prices continued to rise in September compared with August, annual inflation worked out to be lower mainly due to the high base effect from the last year. The S&P CNX Nifty gained 24.95 points or 0.42% to 6,007.05. The index touched a high and a low of 6,028.20 and 5,984.90, respectively. The top gainers on the Nifty were Suzlon up 2.18%,Tiffany Key Rings on sale, Axis Bank up 1.86%, Bharti Airtel up 1.76%, Cipla up 1.73% and RIL up 1.67%. The top losers on the index were Kotak Bank down 1.80%, ACC down 1.71%, Ambuja Cements down 1.45%, HCL Tech down 0.89% and Wipro down 0.67%.
Other Asian indices were trading mixed. Shanghai Composite dipped 0.75%, Hang Seng shed 0.07%, Nikkei 225 trimmed 0.15% and Straits Times declined 0.53% while Jakarta Composite advanced 0.27%, KLSE Composite rose 0.22%, Seoul Composite added 0.07% and Taiwan Weighted increased 0.15%.
Published by HT Syndication with permission from Accord Fintech.







































