Global cues remain mixed as the European markets opened lower following subdued Wall Street closing overnight, after a US Federal Reserve official tipped a pullback in the central bank's easing programs as soon as this summer. While, Asian markets ended mostly in green with China’s Shanghai garnering gain of about one and a half percent as investors chased a rally in property stocks ahead of April home price data due on May 18. Meanwhile, Nikkei share average rose on Friday with investors snapping up reflationary plays such as real estate stocks on the dips - posting a second week of gains supported by the benign effects of a weak yen.

Back home, hopes for an interest rate cut by the Reserve Bank of India in its June 17 monetary policy further supported buying. Meanwhile, the Prime Minister’s Office (PMO) asking the Planning Commission to formulate a draft Bill on Dispute Resolution in Public Contracts in consultation with all stakeholders and Ministries supported the positive sentiment. Some support also came in from buying in software stocks which rose on a weak rupee. The rupee lost 0.07 paise to 54.84 against the dollar on the Interbank Foreign Exchange due to appreciation of the US currency against euro overseas. Meanwhile, traders continued to pile up positions in Realty stocks for third consecutive day as the latest data showing a sharp fall in wholesale price inflation in April 2013 raised hopes that the RBI may further cut policy rates to perk up economic growth. Lower interest rates may help revive demand for properties.

Stocks of cement companies too remained on the buyers’ radar after the Competition Appellate Tribunal (COMPAT) passed an order granting a stay on the penalty imposed by the Competition Commission of India on 11 cement firms on allegations of cartelization. However, gains remain capped after stocks of local drug manufacturer hit rock bottom after the government issued the long-pending drug price control order, paving the way for the implementation of national pharmaceutical pricing policy, which will lead to a reduction of an average 20-25% in medicine prices.

The NSE’s 50-share broadly followed index Nifty gained by over fifteen points to end above its psychological 6,150 support level, while Bombay Stock Exchange’s Sensitive Index - Sensex rose by about forty points to finish over its psychological 20,250 mark. Moreover, the broader markets too traded in-line with benchmarks and snapped the session in green.

The overall volumes stood at over Rs 1.57 lakh crore, which remained on the lower side as compared to that on Thursday. The market breadth remained in favor of declines as there were 1,112 shares on the gaining side against 1,245 shares on the losing side while 145 shares remain unchanged.

Finally, the BSE Sensex gained 38.79 points or 0.19% to settle at 20,286.12, while the CNX Nifty rose by 17.40 points or 0.28% to end at 6,187.30.

The BSE Sensex touched a high and a low of 20,328.19 and 20,155.01, respectively. The BSE Mid cap index up by 0.33% and Small cap index was up by 0.13%.

The top gainers on the Sensex were, BHEL up 4.00%, NTPC up 2.24%, ICICI Bank up 1.92%, L&T up 1.84% and Bajaj Auto up 1.44%, while Bharti Airtel down 1.96%, Dr Reddys Lab down 1.80%, Sterlite Industries down 1.32%, Maruti Suzuki down 1.00% and Wipro down 0.94% were the top losers on the index. 

The top gainers on the BSE Sectoral space were, Power up 3.08%, Capital Goods up 2.95%, Realty up 2.02%, Bankex up 0.56% and PSU up 0.48%, while Consumer Durables down 0.72%, Health Care down 0.39%, Metal down 0.33%, Oil & Gas down 0.24% and FMCG down 0.05% were the top losers on the sectoral space.

Meanwhile, LPG supplies to households having unverified multiple connections will not get refills from June 1. The three state-owned fuel retailers - IOC, BPCL and HPCL - have been directed to stop supplies of LPG refills to households having multiple-connections for which no Know Your Customer (KYC) details have been received.

IOC said in a statement, ‘no transactions, including delivery of non-subsidized cylinders, will be permitted in such cases once such connections have been blocked’. The list of such customers is also displayed at the LPG distributorships and in the companies’ web sites.

Further, customers whose name figure on the list of multiple connection holders need to submit their KYC details along with proof of identity and address immediately to their LPG distributors to continue receiving uninterrupted quota of subsidized cylinders, IOC said. Other customers whose names do not appear in the list need not submit their KYC details as of now. However, the deadline for submission of KYC was December 31, 2012.

The CNX Nifty touched a high and a low of 6,199.95 and 6,146.15 respectively. 

The top gainers on the Nifty were BHEL up 5.06%, Reliance Infra up 3.05%, JP Associates up 2.69%, DLF up 2.68% and NTPC up 2.49%.

On the other hand, top losers on Nifty were, IndusInd Bank down 2.58%, HCL Tech down 2.42%, Dr Reddy’s down 2.02%, Bharti Airtel down 1.85% and NMDC down by 1.65%.

The European markets were trading in green, France’s CAC 40 up by 0.37%, the United Kingdom’s FTSE 100 up by 0.37% and Germany’s DAX up by 0.14%.

Asian stock markets ended mostly higher on Friday, with Japanese market rising as the yen's slight decline triggered some buying at lower levels. Chinese market went home with green mark for a second straight session on Friday as investors cheered moves by the government to ease strict regulation while the rest traded cautiously as concerns grew after a Federal Reserve official tipped a pullback in the central bank's easing programs as soon as this summer. Meanwhile, Taiwan market closed lower as the market encountered stiff technical resistance ahead of 8,400 points.

Markets in Hong Kong and South Korea are closed for holidays.

Asian Indices	Last Trade	Change in Points	Change in %
Shanghai Composite	2,282.87	31.06	1.38
Hang Seng	-	-	-
Jakarta Composite	5,145.68	67.00	1.32
KLSE Composite	1,769.16	2.44	0.14
Nikkei 225	15,138.12	100.88	0.67
Straits Times	3,449.30	-2.98	-0.09
KOSPI Composite	-	-	-
Taiwan Weighted	8,368.19	-21.86	-0.26

]]>Fri, 17 May 2013 11:02:00 GMThttp://www.nirmalbang.com/news/closing-bell.aspx/It turned out to be a volatile session of trade at D-street, wherein benchmark equity indices slipped below the neutral line for several times. However, benchmark equity indices, managed to go home with green mark for the session, but for the week negotiated handsome gains of around a percent. Benchmark 30 share index edging slightly and concluded above 20,200 psychological levels. While, 50 share index Nifty gaining close to quarter of percent, ended above the crucial 6150 bastion. Meanwhile, midcap and Small cap indices too ended in green. Some respite on account of S&P affirming the current ‘BBB-‘rating to India, mainly helped in a positive close for equity markets. However, the global agency, besides maintaining the outlook as negative, underscored 1 out of 3 chances in rating downgrade for India in coming 12 months.

On the global front, Asian shares rose on Friday, led by fresh gains in Tokyo on growing expectations for Japan's economic recovery on the back of its government's economic measures. Meanwhile, European stocks pared some decline as banks advanced, offsetting a US Federal Reserve policy makers warning that the central bank may reduce its monthly bond purchases as early as this summer.

Closer home, the stocks from Power, Capital Goods and Realty Counters, were the major pockets of strength. Nevertheless, recovery of Banking pivotal also aided the sentiment at D-street. Banking shares were trading downbeat in early deals after two straight days of gains sparked by rising hopes the Reserve Bank of India cutting interest rates as early as June. Additionally, Ambuja Cements, ACC, Ultratech Cement ended positive even as Competition Appellate Tribunal (COMPAT) levied 10 per cent penalty of Rs 6,300 crore on cement companies, which needs to be paid within a month. COMPAT granted a stay on the penalty of Rs 1,163 crore levied on Ambuja Cements. However, Ambuja Cements has been asked to deposit Rs 116.30 crore, amounting to 10% of the penalty, within four weeks. On the flip side, Health Care, Consumer Durables, Metal counters limited the further upturn of the bourses. Meanwhile, select Pharma stocks too came under the pressure after the government formally notified a new drug pricing policy designed to increase the number of drugs deemed essential that are subject to price caps. The market breadth on the BSE ended negative; advances and declining stocks were in a ratio of 1112: 1245, while 142 scrips remained unchanged. (Provisional)

The BSE Sensex gained 27.56 points or 0.14% to settle at 20274.89.The index touched a high and a low of 20328.19 and 20155.01 respectively. Among the 30-share Sensex pack, 16 stocks gained while rest of them declined (Provisional)

The BSE Mid cap and Small cap indices ended higher by 0.32% and 0.09% respectively. (Provisional)

On the BSE Sectoral front, Power up by 3.37%, Capital Goods up by 3.28%, Realty up by 1.89%, PSU up by 0.63% and Bankex up by 0.42% were the top gainers, while Health Care down by 0.60%, Consumer Durables down by 0.49%, Metal down by 0.37%, Teck down by 0.13% and FMCG down by 0.04%, were the only losers in the space. (Provisional)

The top gainers on the Sensex were BHEL up by 4.00%, NTPC up by 2.24%,  ICICI Bank up by 1.92%, L&T up by 1.84% and Bajaj Auto up by 1.44%, while, Bharti Airtel down by 1.96%, Dr Reddys Lab down by 1.80%, Sterlite Industries down by 1.32%, Maruti Suzuki down by 1.00% and Wipro down by 0.94% were the top losers in the index. (Provisional)

Meanwhile, the Reserve Bank of India (RBI) has reportedly asked bank to stop advertising for gold coin sale. Recently, in an attempt to stem runaway gold imports, which is one of the key reasons behind the widening trade and current account deficits, the RBI suggested that banks should not aggressively sell gold products at their branches.

Meanwhile, to de-motivate investors of gold as a hedge against rising prices and in-line with the Budget proposal to introduce instruments that will protect savings of poor and middle classes from inflation and motivate household sector to save in financial instruments rather than buy gold, the Reserve Bank of India (RBI), is all set to launch inflation-linked bonds every month, starting June 4, 2013.

India VIX, a gauge for markets short term expectation of volatility lost 0.95% at 17.57 from its previous close of 17.74 on Thursday. (Provisional)

The CNX Nifty gained 14.05 points or 0.23% to settle at 6,183.95. The index touched high and low of 6,199.95 and 6,146.15 respectively. 28 stocks advanced against 21 declining and one stock remains unchanged on the index. (Provisional)

The top gainers on the Nifty were BHEL up by 5.06%, Reliance Infrastructure up by 3.05%, Jaiprakash Associates up by 2.69%, DLF up by 2.68% and NTPC was up by 2.49%. On the other hand, IndusInd Bank down by 2.58%, HCL Tech down by 2.42%, Dr. Reddy's Laboratories down by 2.02%, Bharti Airtel down by 1.85% and NMDC down by 1.65% were the top losers. (Provisional)

Most of the European markets were trading in green with, France’s CAC 40 up by 0.25%, Germany’s DAX up by 0.23% and the United Kingdom’s FTSE 100 up by 0.23%.

Asian stock markets ended mostly higher on Friday, with Japanese market rising as the yen's slight decline triggered some buying at lower levels. Chinese market went home with green mark for a second straight session on Friday as investors cheered moves by the government to ease strict regulation while the rest traded cautiously as concerns grew after a Federal Reserve official tipped a pullback in the central bank's easing programs as soon as this summer. Meanwhile, Taiwan market closed lower as the market encountered stiff technical resistance ahead of 8,400 points.

Markets in Hong Kong and South Korea are closed for holidays.

Asian Indices	Last Trade	Change in Points	Change in %
Shanghai Composite	2,282.87	31.06	1.38
Hang Seng	-	-	-
Jakarta Composite	5,145.68	67.00	1.32
KLSE Composite	1,769.16	2.44	0.14
Nikkei 225	15,138.12	100.88	0.67
Straits Times	3,449.30	-2.98	-0.09
KOSPI Composite	-	-	-
Taiwan Weighted	8,368.19	-21.86	-0.26

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