After a long holiday mood Indian indices had a volatile day with heavyweights managing to close in positive but the midcap and smallcap index close in red. Buying was seen only in selective large-cap and banking stocks. Realty counter was the worst hit for the day after Bombay high court declared some of the developing land as the forest land. The metal stocks tumbled over 4% each. Banking space was in focus but in the mean while Markets slipped from the day's high and traded in red after heavy selling pressure intensified in the mid session. Inflation on friday came out high at 5.92%. Globally most of the Asians markets were closed which kept market in range session. Positive cues from the US front keep the market in an affirmative mood. Investors piped orders into final hour of trading after renewed buying activity seen at the lower levels. Finally markets managed to close higher.
Sensex ended up by 295 points at 15289.4. It was helped by gains in HDFC (2384.05,+8 percent), Wipro (398.75,+6 percent), HDFC Bk (1337.45,+5 percent), ICICI Bk (804.55,+5 percent) and Dr Reddys (564.9,+4 percent). Restricting the gains were Bajaj Auto (591.5,-8 percent), TISCO (592.45,-7 percent), Rel Energy (1150.9,-5 percent), Maruti (811.7,-1 percent) and Ranbaxy (446.25,-1 percent).
Aries Agro (AAL) is a producer and supplier of quality plant nutrition solutions, opened a new manufacturing unit for secondary and micro nutrients as well as water soluble major fertilizers. The company invested Rs. 2.45 Cr (excluding land cost) into the new plant, which inaugurated today and will serve over 3 million farmers across the different states in Andhra Pradesh, Chhattisgarh, Madhya Pradesh, Tamil Nadu, Karnataka and Orissa. The new manufacturing facility is located at Andhra Pradesh which will be the largest with state-of-the-art unit of the company. It is also the largest manufacturing unit in India for micronutrients, mainly dedicated for manufacturing two flagship brands, namely, `Aries Agromin Max` and `Aries Chelamin`. Micronutrients play a very important role in key metabolic events such as chlorophyll synthesis and photosynthesis.
Amtek Auto has joined hands with a leading North American wagon supplier American Rail Car Industries to set up a capacity to produce 5,000 wagons. Plant would get operational in June 09 initially will start producing 2000 freight wagons following the next 2-3 years the plant would run at its optimum capacity of 5,000 wagons. Recently in the Union Budget the Railways had announced plans to procure 20,000 wagons this year. The two major players Titagarh Wagons and Texmaco individually have the capability to produce around 1,800-2,000 wagons. The demand and supply scenario looks to be positive for the wagon players. Amtek is well diversified player from its component business for automobiles to equipment for railways, surface transport and aero space.
Dabur Pharma was in spotlight to end the day up by 16% after the company reported that it has received a approval to sell the irinotecan hydrochloride injection in Italy and Denmark. Irinotecan hydrochloride injection is the generic version of Pfizer's Camptosar. There was a block deal of 38 lakh Dabur Pharma shares on the Indian bourses.
Technically Speaking: Overall market traded well at support levels. Sensex touched intraday high of 15351 and low of 15056. Overall market turnover stood at Rs 4663 Cr. Market breadth was in favor of Decliners, where the Advances stood at 559, Declines stood at 2130. Sensex faces resistance at 15500 which will be a crucial level considering that expiry is just 3days. If markets stabilise above 15500 we might see more up move upto 16100. A failure to cross 15500 will bring the Sensex back to 14800 levels.
Sensex ended up by 295 points at 15289.4. It was helped by gains in HDFC (2384.05,+8 percent), Wipro (398.75,+6 percent), HDFC Bk (1337.45,+5 percent), ICICI Bk (804.55,+5 percent) and Dr Reddys (564.9,+4 percent). Restricting the gains were Bajaj Auto (591.5,-8 percent), TISCO (592.45,-7 percent), Rel Energy (1150.9,-5 percent), Maruti (811.7,-1 percent) and Ranbaxy (446.25,-1 percent).
Aries Agro (AAL) is a producer and supplier of quality plant nutrition solutions, opened a new manufacturing unit for secondary and micro nutrients as well as water soluble major fertilizers. The company invested Rs. 2.45 Cr (excluding land cost) into the new plant, which inaugurated today and will serve over 3 million farmers across the different states in Andhra Pradesh, Chhattisgarh, Madhya Pradesh, Tamil Nadu, Karnataka and Orissa. The new manufacturing facility is located at Andhra Pradesh which will be the largest with state-of-the-art unit of the company. It is also the largest manufacturing unit in India for micronutrients, mainly dedicated for manufacturing two flagship brands, namely, `Aries Agromin Max` and `Aries Chelamin`. Micronutrients play a very important role in key metabolic events such as chlorophyll synthesis and photosynthesis.
Amtek Auto has joined hands with a leading North American wagon supplier American Rail Car Industries to set up a capacity to produce 5,000 wagons. Plant would get operational in June 09 initially will start producing 2000 freight wagons following the next 2-3 years the plant would run at its optimum capacity of 5,000 wagons. Recently in the Union Budget the Railways had announced plans to procure 20,000 wagons this year. The two major players Titagarh Wagons and Texmaco individually have the capability to produce around 1,800-2,000 wagons. The demand and supply scenario looks to be positive for the wagon players. Amtek is well diversified player from its component business for automobiles to equipment for railways, surface transport and aero space.
Dabur Pharma was in spotlight to end the day up by 16% after the company reported that it has received a approval to sell the irinotecan hydrochloride injection in Italy and Denmark. Irinotecan hydrochloride injection is the generic version of Pfizer's Camptosar. There was a block deal of 38 lakh Dabur Pharma shares on the Indian bourses.
Technically Speaking: Overall market traded well at support levels. Sensex touched intraday high of 15351 and low of 15056. Overall market turnover stood at Rs 4663 Cr. Market breadth was in favor of Decliners, where the Advances stood at 559, Declines stood at 2130. Sensex faces resistance at 15500 which will be a crucial level considering that expiry is just 3days. If markets stabilise above 15500 we might see more up move upto 16100. A failure to cross 15500 will bring the Sensex back to 14800 levels.
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