India Stocks Review: End mixed amid volatility; metal shares gain

[K.Karthik Raja]

India Stocks Review: End mixed amid volatility; metal shares gain
Thursday, Jul 10
-----------------------------------------------------------------------------
Bombay Stock Exchange : National Stock Exchange
Sensex: 13926.24, dn 38.02 pts (0.3%) : Nifty: 4162.20, up 5.10 pts
(0.1%)
-----------------------------------------------------------------------------
Key share indices ended mixed today amid volatility on lack of
positive triggers.
The indices ended off their 1% low touched earlier in the session
on
short covering in the derivatives segment.
Mixed cues from overseas markets also added to the volatility.
European markets were trading 1%-2% down, while most Asian stocks
recouped losses.
Sensex ended at 13926.24, down 38.02 points or 0.3% from
Wednesday. Intra-day, it moved between 13763.94 and 14046.59.
Nifty closed at 4162.20, up 5.10 points or 0.1%. Intra-day, it
moved between 4110.40 and 4187.95.
Turnover on BSE and NSE combined was 162 bln rupees, compared with
170
bln rupees on Wednesday.
CNX Mid-cap and S&P CNX 500 indices ended nearly 0.1% up each.
Sentiment also remained cautious ahead of crucial data due on
Friday--
Wholesale Price Index-based inflation for the week to Jun 28, and
industrial
growth data for May.

STOCKS
Metal stocks led the gains in Nifty, with non-ferrous metal shares
like
National Aluminium and Hindalco Industries gaining on the back of
copper and
aluminium prices rising on London Metal Exchange.
NALCO, up nearly 9% at 360 rupees, was top Nifty gainer, while
Hindalco followed, up 5% at 153 rupees.
ACC and Ambuja Cements gained around 3% each on value buying after
having
being battered recently.
DLF led the gains in the realty sector, ending 2% up, after it
announced
a buyback of up to 22 mln shares at 600 rupees each, while oil
retailers
gained as crude oil prices remained below $140 a barrel on New York
Mercantile Exchange.
Most automobile shares declined on concerns of muted Apr-Jun
earnings,
with the sector continuing to grapple with high interest rates and
rising
input costs.
Maruti Suzuki India and Tata Motors declined 3% and 2%,
respectively,
while Hero Honda Motors, down nearly 4% at 689 rupees, was worst hit
among
Nifty stocks.
Bajaj Auto, however, bucked the trend, rising 10% at 498 rupees
after
reporting Apr-Jun results in line with analysts' estimates.
Most information technology shares ended weak. Infosys
Technologies ended
1% down at 1,805 rupees ahead of its first quarter earnings
announcement on
Friday.
Index heavyweight Reliance Industries also dragged shares lower,
ending
nearly 2% down at 2,047 rupees, on a report that the government may
consider imposing export curbs or duties on petrochemical products.

KEY MARKET MOVES
* In the Nifty, 27 rose and 23 fell.
* In the Sensex, 14 rose and 16 fell.
* On BSE, there were 1,453 advances and 1,171 declines
* BSE Metal: Up 2.5%; BSE Auto: Down 1.1%; CNX IT: Down 0.7%
-----------------------------------------------------------------------------
Bombay Stock Exchange : National Stock Exchange
Sensex: 13926.24, dn 38.02 pts (0.3%) : Nifty: 4162.20, up 5.10 pts
(0.1%)
-----------------------------------------------------------------------------

B.karthick,
Research Analyst.