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Friday, February 25, 2011

Indian stock market opening closing report February 25, 2011

Indian stock market opening closing report February 25, 2011 : Views on markets today - Indian shares tumbled 3% yesterday in their biggest one-day fall in almost 16 months as the Libyan turmoil sent oil prices to their highest in nearly 2-½ years and threatened global economic growth. Weak global cues because of political turmoil in the Middle East and nearby region, rising food and fuel inflation and expiry of monthly derivatives contracts worsened the trading sentiment.

All sectoral indices closed negative with banks, consumer durables, capital goods and auto stocks were major losers. Metal stocks also fell as pressure grew on base metals from the economic threat posed by surging oil prices. Aurobindo Pharma plunged 16.8% after US FDA banned imports from its unit that makes cephalosporin injectables and orals.

- Market breadth was weak at ~0.29x as investors sold large cap stocks. FIIs sold equities worth Rs.27.02bn while domestic institutions bought equities of Rs.10.29bn.

- Asian markets are mostly positive today showing a short recovery as the rise in crude oil prices halted at $100 levels. Both the Nikkei and the Hang Seng rebounded after a 4-day losing streak.

- We expect a positive opening for the Indian markets after yesterday’s sharp drop. Higher dependence about the crude oil for India and the Middle East uncertainties has led the investors to avoid taking long positions. Railway budget today and the Union Budget on Monday may keep markets volatile. Inflation is a major worry for the investors.

Indian stock market daily closing report (February 25, 2011)
Indian equity benchmarks closed the session on a positive note on short covering in the most beaten down stocks. Mrakets were consolidation ahead of the the Union Budget scheduled on Monday, February 28. The BSE Sensex climbed 69 points, to close at 17,701 and the Nifty went up 41 points to end at 5,303 after making an intra-day low of 5,233. The Nifty March futures closed at 24 points premium. Buying was seen in financial, healthcare and FMCG companies. The breadth remained flat and the total volumes were at Rs. 1,24056 cr. For the week Nifty wad down 155 points.

In the reality pack, HDIL was up 6.3%, Unitech down 1.6% & IB Reality up 1.5% and DLF ended flat.

In the financial space Axis Bank up 4.2%, ICICI Bk up 4%, SBI up 2% & PNB up 3.3% and HDFC up 2%.

In Metal space Hindalco down 2.2%, Sesa goa up 0.7%, Sterlite down 2.3% & Tata Steel up 1.1%.

In Oil & Gas Space BPCL flat, HPCL up 1.5% & Ongc down 1.1% and Reliance inds. Up 0.6%.

In Auto space M&M down 2.6%, Maruti down 0.90% & Telco up 4.8% and Hero Honda up 0.7%.

There was a mixed trend in railway stocks during presentation of Railway Budget. BEML, Titagarh Wagons and Kernex Micro were down 3-13%.

Amongst the Sensex gainers Telco up 4.4%, ICICI Bank up 3.5%, ITC up 3%, SBI up 2% and Wipro up 1.7%.

Among the Sensex losers RCOM down 5%, Reliance Infra down 4.5%, M&M down 2.6%, Sterlite down 2%.
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