The Hindu Business Line : Sensex ends positive tracking global markets

Taking cues from the global peers, markets opened strong after the holidays and held on to the gains till the close.Except for a dull period during the mid-session, the markets moved in a positive territory.

The US Fed stance of keeping the interest rates steady and some enthusing set of Q2 numbers helped the markets during the Thursday's trading. Small and mid-cap indices too gained.

The breadth of the markets was clearly in favour of advances. Gainers outnumbered the losers by a ratio of 1.2:1. Sensex added 75 points to end the day at 12,698.41. Banking sector was in the festive mood and most of the stocks ended the day with gain. Software and capital goods were too closed in green while the consumer durables and FMGC bore the brunt of the markets.

Buzzing Stocks

Hindustan Zinc that announced hike in prices past week again turned active and the stock gained 13.5 per cent. Geojit Financial Services surged by another 10 per cent. The stock gained almost 10 per cent for the past few trading days on the back of BNP Paribas taking stake in the company.

DCM Shriram Consolidated added 9 per cent after the company announced that expanded capacities at Kota became fully operational and contributing to the performance. Other prominent gainers were Sterlite Industries, GVK Power and Infrastructure, Escorts, Hinduja TMT and Alstom Projects.

Sector focus

Banking stocks results, for the second quarter that have come in present a picture of robust, earning were top favourite for the Thursday days trading. ICICI Bank that came out with good results during the market holiday gained Rs 33 to close at Rs 753.4. State Bank of India, HDFC Bank, Oriental Bank of Commerce, Canara Bank, Indian Overseas Bank and Union Bank of India were the other prominent gainers from banking space.

All the frontline stocks in the software sector gained. Infosys lead the pack of gainers. Others to follow were Satyam Computer, Wipro, TCS and Hexaware. Patni Computers and Financial Technologies were the losers.

Capital goods sector too participated in the rally. Lakshmi Machine Works, which announced a stock spilt a few days back, hit the upper circuit filter again. Siemens gained Rs 56 to close Rs 1,201. Ingersoll-Rand, BEML, Areva T&D and Alstom Projects all closed in green. Alfa Laval, Thermax and Carborundum Universal were the losers.

Videocon Industries was the worst losers in consumer durables space. The stock lost Rs 44.5 to close at Rs 444.9.Titan Industries and Goldiam International shed between 1-2 per cent. However, the few stocks added value were Blue Star and Rajesh Exports.

Stock-specific action

Balaji Amines was in thick of action following the board recommended issue of bonus shares in the ratio of 1:1 at its meeting held on October 23.The stock gained 3.85 per cent to close at Rs 385.4

Shipping Corporation surged 5.6 per cent to close at Rs.171.4 after the company declared the results for the quarter. The company has posted a net profit after tax of Rs 321.2 crore.

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Maruti Udyog, which declared the quarterly results better than the street expectation, gained Rs.4.6 to end the day at Rs 951.

Aurobindo Pharma announced that it has received the marketing approval from the Medicines Evaluation Board of the Netherlands for tablets containing the active ingredient mirtazapine.The stock gained Rs 6 to Rs 602.

Gainers and losers

Mahindra and Mahindra, Sail, Nalco, Corporation Bank, GE Shipping and Suzlon Energy were among the prominent gainers list. HPCL, BPCL, Bajaj Auto, HLL and Reliance Industries were the losers in Nifty.