MC: Sensex holds 18K; rate sensitives, commodities gain
At 10:22 hours IST - the benchmark Sensex was trading above 18000 level, with more than 150 points gains, supported by 25 stocks out of 30. Financial, capital goods, auto, metal, FMCG, oil & gas exploration and telecom companies' shares were helping the markets.
Even Asian cues were quite supportive today. Shanghai, Hang Seng, Kospi and Taiwan were trading 1-1.7% higher. Straits Times was up 0.9% and Nikkei up 0.6%.
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The Sensex was trading at 18025, up 157 points and the Nifty was at 5414, up 47 points. The broader indices were up nearly one percent each.
Good auto sales numbers for the month of July 2010 pushed auto companies' shares up. Bajaj Auto's total sales jumped 65% at 3.18 lakh; Tata Motors' sales went up 41% at 67799 and TVS Motor's total 2 wheeler sales up 35% at 1.63 lakh units (YoY). Maruti Suzuki sales rose 29.2% to 1,00,857 units (YoY). Tata Motors, Hero Honda, Maruti, Bajaj Auto and TVS Motor rose 1-1.8%.
ICICI Bank jumped 3%, as its Q1 net profit rose 16.82% at Rs 1,025.98 crore. Net non-performing asset (NPA) ratio was down to 1.62% from 2.33% (YoY). Provisions declined 39.7% to Rs 798 crore from Rs 1323.6 crore. In the financial space, SBI, PNB and IDFC gained 1-2.4%.
DLF and Unitech from realty pack went up 1-1.6%. Reliance Industries, ONGC and Cairn India were up 0.6-0.8%.
Top gainers - Bharti Airtel was trading at Rs 317.25, up 3.41%; ICICI Bank was at Rs 931.20, up 2.91%; PNB was at Rs 1,097, up 2.48%; GAIL was at Rs 445.25, up 1.54%; Unitech was at Rs 82.40, up 1.54%; Maruti Suzuki was at Rs 1,214.10, up 1.33%; BHEL was at Rs 2,467.10, up 1.16% and SBI was at Rs 2,532.20, up 1.13%.
ARSS Infra, ICICI Bank, Bank of India, Manappuram, Karuturi Global, Bharti Airtel, Reliance Inds and SBI were the most active shares on exchanges.
In the midcap space, Manappuram, Hindustan National Glass, Britannia, Puravankara Projects and ARSS Infra gained 5-13% while Rei Agro fell 14%, Trent, Gujarat Flourochem, Infotech Enterprise and Simplex Infra were down 2.5%.
In the smallcap space, Geodesic, Karuturi Global, Riddhi Siddhi, TCI Industries and Bilcare were up 6-8% while Nagarjuna Agri, Andhra Cement, Orient Abrasive, Modern India and Voltamp Transformer lost 5-9.6%.
