Bulls surpass Bears on the last day of 2010
As per provisional figures, the BSE 30-share Sensex was up 93.39 points or 0.46% to 20,482.46. The Sensex rose 162.96 points at the day's high of 20,552.03 in afternoon trade, its highest level since 12 November 2010. The index gained 23.69 points at the day's low of 20,412.76 in early trade.
The S&P CNX Nifty was up 25.45 points or 0.42% to 6,127.30 as per provisional figures. The Nifty hit high of 6,147.30 in afternoon trade, its highest level since 12 November 2010.
The BSE Mid-Cap index rose 1.13% and the BSE Small-Cap index advanced 1.18%. Both these indices outperformed the Sensex.
The market breadth, indicating the overall health of the market, was strong. On BSE, 2,000 shares rose while 960 shares declined. A total of 89 shares remained unchanged.
Among the 30-member Sensex pack, 22 rose while the rest declined.
BSE clocked turnover of Rs 3382 crore, lower than Rs 3533.03 crore on Thursday, 30 December 2010.
Index heavyweight Reliance Industries (RIL) rose 0.7%, with the stock gaining for the third straight day. RIL's advance tax payment reportedly surged 42.8% to Rs 1191 crore in Q3 December 2010 over Q3 December 2009.
Consumer durables stocks edged higher. Blue Star, Titan Industries and Videocon Industries rose by between 0.02% to 2.25%.
Reliance Communications jumped 5.03% on reports the company can restart providing video calls in the new year as part of its 3G services. The stock was the top gainer from the Sensex pack.
Auto stocks edged higher ahead of the release of the monthly sales data for December 2010 starting from 1 January 2011. Bajaj Auto, Ashok Leyland, M&M, Maruti Suzuki India and Tata Motors rose by 0.17% to 4.08%.
Bank stocks rose as some prominent banks paid higher advance tax in the third quarter, indicating good Q3 December 2010 result. India's second largest private sector bank by market capitalization HDFC Bank gained 1.85%.
India's largest commercial bank in terms of branch network State Bank of India (SBI) gained 2.01%. State Bank of India is planning to mop up Rs 10000 crore in various tranches in the remaining period of the current fiscal year that ends in March 2011 and the next fiscal year that will end in March 2012 through public issue of subordinated bonds (lower tier-II bonds).
India's largest private sector bank by market capitalisation ICICI Bank rose 0.17%, with the stock gaining for the third straight day. The private sector bank's advance tax payment reportedly surged 49.5% to Rs 450 crore in Q3 December 2010 over Q3 December 2009.
Realty stocks edged higher for the second day in a row. Ackruti City, DLF, HDIL and Indiabulls Real Estate rose by between 0.52% to 4.15%.
Sugar stocks fell on reports the government will slap 60% import duty on sugar from 1 January 2011. Bajaj Hindutha, Balrampur Chini and Shree Renuka Sugars declined by between 1.84% to 2.26%.
The government had dropped 60% import duty on sugar in early 2009 to overcome an acute domestic supply shortage, triggered by the worst drought in four decades. The duty free notification lapses on 31 December 2010.
Aviation stocks jumped as crude oil fell most in a month to settle below $90 a barrel level on New York Mercantile Exchange on Thursday, 30 December 2010, as a US government report showed smaller than forecast drop in inventories. Kingfisher Airlines, Jet Airways and SpiceJet rose by between 3.52% to 4.34%. Jet fuel prices are linked to the prices of crude oil. Jet fuel constitute more than 50% of operating cost of airliners.
Global Markets:
European bourses traded lower on the last session of the year. France's CAC 40 declined 0.37% and UK's FTSE 100 fell 0.23%. German markets were closed ahead of New Year celebrations. London and the rest of European markets will close around midday.
Asian stocks rose on Friday, 31 December 2010, on positive economic data in the US, the world's biggest economy. The key benchmark indices in China, Hong Kong and Taiwan rose by between 0.16% to 1.76%. Singapore's Straits Times fell 0.70%. Stock markets in Japan, Indonesia and South Korea were closed.
As per provisional figures, the BSE 30-share Sensex was up 93.39 points or 0.46% to 20,482.46. The Sensex rose 162.96 points at the day's high of 20,552.03 in afternoon trade, its highest level since 12 November 2010. The index gained 23.69 points at the day's low of 20,412.76 in early trade.
The S&P CNX Nifty was up 25.45 points or 0.42% to 6,127.30 as per provisional figures. The Nifty hit high of 6,147.30 in afternoon trade, its highest level since 12 November 2010.
The BSE Mid-Cap index rose 1.13% and the BSE Small-Cap index advanced 1.18%. Both these indices outperformed the Sensex.
The market breadth, indicating the overall health of the market, was strong. On BSE, 2,000 shares rose while 960 shares declined. A total of 89 shares remained unchanged.
Among the 30-member Sensex pack, 22 rose while the rest declined.
BSE clocked turnover of Rs 3382 crore, lower than Rs 3533.03 crore on Thursday, 30 December 2010.
Index heavyweight Reliance Industries (RIL) rose 0.7%, with the stock gaining for the third straight day. RIL's advance tax payment reportedly surged 42.8% to Rs 1191 crore in Q3 December 2010 over Q3 December 2009.
Consumer durables stocks edged higher. Blue Star, Titan Industries and Videocon Industries rose by between 0.02% to 2.25%.
Reliance Communications jumped 5.03% on reports the company can restart providing video calls in the new year as part of its 3G services. The stock was the top gainer from the Sensex pack.
Auto stocks edged higher ahead of the release of the monthly sales data for December 2010 starting from 1 January 2011. Bajaj Auto, Ashok Leyland, M&M, Maruti Suzuki India and Tata Motors rose by 0.17% to 4.08%.
Bank stocks rose as some prominent banks paid higher advance tax in the third quarter, indicating good Q3 December 2010 result. India's second largest private sector bank by market capitalization HDFC Bank gained 1.85%.
India's largest commercial bank in terms of branch network State Bank of India (SBI) gained 2.01%. State Bank of India is planning to mop up Rs 10000 crore in various tranches in the remaining period of the current fiscal year that ends in March 2011 and the next fiscal year that will end in March 2012 through public issue of subordinated bonds (lower tier-II bonds).
India's largest private sector bank by market capitalisation ICICI Bank rose 0.17%, with the stock gaining for the third straight day. The private sector bank's advance tax payment reportedly surged 49.5% to Rs 450 crore in Q3 December 2010 over Q3 December 2009.
Realty stocks edged higher for the second day in a row. Ackruti City, DLF, HDIL and Indiabulls Real Estate rose by between 0.52% to 4.15%.
Sugar stocks fell on reports the government will slap 60% import duty on sugar from 1 January 2011. Bajaj Hindutha, Balrampur Chini and Shree Renuka Sugars declined by between 1.84% to 2.26%.
The government had dropped 60% import duty on sugar in early 2009 to overcome an acute domestic supply shortage, triggered by the worst drought in four decades. The duty free notification lapses on 31 December 2010.
Aviation stocks jumped as crude oil fell most in a month to settle below $90 a barrel level on New York Mercantile Exchange on Thursday, 30 December 2010, as a US government report showed smaller than forecast drop in inventories. Kingfisher Airlines, Jet Airways and SpiceJet rose by between 3.52% to 4.34%. Jet fuel prices are linked to the prices of crude oil. Jet fuel constitute more than 50% of operating cost of airliners.
Global Markets:
European bourses traded lower on the last session of the year. France's CAC 40 declined 0.37% and UK's FTSE 100 fell 0.23%. German markets were closed ahead of New Year celebrations. London and the rest of European markets will close around midday.
Asian stocks rose on Friday, 31 December 2010, on positive economic data in the US, the world's biggest economy. The key benchmark indices in China, Hong Kong and Taiwan rose by between 0.16% to 1.76%. Singapore's Straits Times fell 0.70%. Stock markets in Japan, Indonesia and South Korea were closed.