Sensex ends 79.22 pts lower on weak cues

Indian markets fell for the fifth straight session on Monday, January 25. Both Sensex and Nifty traded below 1-month low. After opening flat with negative bias following weak global cues. It slipped further and remained cautious over Obama Barack bank plan. Later it pared all losses and moved into the positive terrain due to select buying seen in frontliners amid volatility ahead of public holiday tomorrow and January series expiry and Reserve Bank of India`s monetary policy announcement later this week. Subdued global markets also dampened sentiments.

At the close, the benchmark 30-share index, BSE Sensex lost 79.75 points or 0.47% at 16,779.93 with 18 components posting drop. Meanwhile, the broad based NSE Nifty fell by 28.10 points or 0.56% at 5,007.90 with 32 components registering drop.

On global front, European stocks fell for a fourth day, the longest losing streak in two months, after US shares plunged the most since October on Jan. 22 and Ericsson reported disappointing earnings. US index futures rose.

Sensex Movers

Reliance Industries contributed fall of 24.96 points in the Sensex. It was followed by Infosys Technologies (21.4 points), Mahindra & Mahindra (19.11 points), H D F C Bank (15.1 points) and I C I C I Bank (14.23 points).

However, I T C contributed rise of 15.77 points in the Sensex. It was followed by Bharti Airtel (15.74 points), Larsen & Toubro (13.6 points), Hindustan Unilever (7.52 points) and Oil & Natural Gas Corporation (2.99 points).

Major gainers in the 30-share index were Bharti Airtel (2.82%), Hindustan Unilever (2.06%), I T C (1.86%), Larsen & Toubro (1.27%), Maruti Suzuki India (0.78%), and Sun Pharmaceutical Industries (0.61%).

On the other hand, Mahindra & Mahindra (6.09%), Jaiprakash Associates (3.33%), D L F (2.95%), Tata Steel (2.27%), Sterlite Industries (India) (2.05%), and H D F C Bank (1.75%) were the major losers in the Sensex.

Mid & Small-cap Space

The BSE Midcap index was at 6695.32 down by 88.34 points or by 1.3%. The major losers were A I A Engineering (5.91%), Reliance MediaWorks (2.18%), Aban Offshore (2.09%), Alfa-Laval (India) (0.49%) and Alstom Projects India (0.06%).

The BSE Smallcap index was at 8583.01 down by 78.16 points or by 0.9%. The major losers were Abhishek Industries (3.31%), A B G Shipyard (2.32%), Provogue (India) (1.69%), A B G Infralogistics (1.47%) and Action Construction Equipment (1.43%).


Sectors in Limelight

The Realty index was at 3,648.15, down by 108.01 points or by 2.88%. The major losers were Indiabulls Real Estate (3.9%), Anant Raj Industries (3.41%), D L F (2.95%), Ansal Properties and Infrastructure (2.57%) and Mahindra Lifespace Developers (0.67%).

The Auto index was at 7,243.92, down by 158.05 points or by 2.14%. The major losers were Bajaj Auto (3.39%), Apollo Tyres (3.16%), Bharat Forge (2.47%), Amtek Auto (2.05%) and Ashok Leyland (1.33%).

The Metal index was at 17,042.31, down by 263.17 points or by 1.52%. The major losers were JSW Steel (3.77%), NMDC (3.23%), Hindalco Industries (1.46%), Jindal Steel & Power (0.55%) and National Aluminium Company (0.3%).

On the other hand, the FMCG index was at 2,803.73, up by 31.66 points or by 1.14%. The major gainers were Hindustan Unilever (2.06%), I T C (1.86%), Dabur India (0.29%) and Nestle India (0.12%).


Market Breadth

Market breadth was negative with 1,165 advances against 1,697 declines.

Value and Volume Toppers

Jai Corp topped the value chart on the BSE with a turnover of Rs. 2,042.35 million. It was followed by Hindustan Copper (Rs. 1,455.76 million), Rashtriya Chemicals & Fertilizers (Rs. 1,073.09 million) and National Fertilizers (Rs. 966.63 million).

The volume chart was led by Cals Refineries with trades of over 16.50 million shares. It was followed by Rashtriya Chemicals & Fertilizers (10.00 million), K Sera Sera Productions (8.13 million) and Ispat Industries (7.79 million).

Results
NMDC announced a steep drop in standalone net profit for the quarter ended December 2009. During the quarter, the profit of the company declined 39.65% to Rs 8,599.90 million from Rs 14,249.50 million in the same quarter previous year. Net sales declined 32.08% to Rs 15,876 million, while total income for the quarter fell 28.49% to Rs 18,334.80 million, when compared with the prior year period.

HCL Technologies disclosed a steep drop in standalone net profit for the quarter ended December 2009. During the quarter, the profit of the company declined 35.82% to Rs 2,554.40 million from Rs 3,980.10 million in the same quarter last year. Net sales declined 6.98% to Rs 12,137 million, while total income for the quarter fell 11.97% to Rs 12,592.20 million, when compared with the prior year period.

Welspun India announced a phenomenal rise in standalone net profit for the quarter ended December 2009. During the quarter, the profit of the company rose 50.83 times to Rs 206.66 million from Rs 4.07 million in the same quarter previous year. Net sales for the quarter for the quarter surged 40.90% to Rs 5,056.43 million, while total income for the quarter jumped 40.95% to Rs 5,062.78 million, when compared with the prior year period.

Mahindra & Mahindra (M&M) reported a rise of 12.11 times in its consolidated net profit for quarter ended Dec.31, 2009. During the quarter, the company reported profits of Rs 4,737 million as against Rs 391 million for the quarter ended Dec. 31, 2008. The gross revenues and other income for the quarter were at Rs 815,680 million, a rise of 28.40% over the prior year period. On a standalone basis, the net profit of the company was at Rs 4,137 million, a rise of 10.72 times over the prior year period.