RBI governor D. Subbarao delivered a pleasant surprise to the markets but the euphoria didn’t last long as worries about earnings growth and global slowdown dampened the sentiment. Also, consumer price inflation (new series) jumped in March due to higher food prices while the trade gap widened to new record in March. The rupee came under fresh pressure, falling below the 52 per dollar mark. It closed at a level not seen in over three months. Results too were mixed this week, with HDFC Bank and IndusInd Bank reporting robust numbers while others like RIL, Cairn India, ACC and Ambuja Cements left investors disappointed.
The coming weeks will see lot more earnings announcements. The monsoon forecast could also have some sentimental bearing on markets. But, any major move will hinge on policy action from the Centre and improvement in the external outlook.
Sensex top gainers: The top gainers in the Sensex were Tata Motors (up 9.5%), Hero Motocorp (up 6.5%), Maruti Suzuki (up 5.1%), Tata Steel (up 4.6%) and HDFC Bank (up 4.1%)
Sensex losers: The top losers in the Sensex were BHEL (down 5.1%), Reliance Capital (down 3.2%), Reliance Inds (down 2.8%), ACC (down 2.5%) and Ambuja Cements (down 1.2%),
The BSE IT Index (up 1%): The top gainers in the IT sector were HCL Tech (up 5.5%), TCS (up 1.9%), Wipro (up 1.3%), Mphasis (up 1.2%)
The BSE Healthcare Index (up 1.8%): The largest gainers in Pharma were Torrent Pharma (up 1.2%), Pfizer (up 1.2%), GSK Pharma (up 1.2%), Wockhardt (up 1%), Strides Arcolab (up 0.7%),
The top losers in Pharma were Marksans Pharma (down 2.9%), Cadila (down 2.3%) and Divi’s Labs (down 1.7%).
The BSE Banking Index (up 1.4%): The top gainers in the Banking space were HDFC Bank (up 4.1%), SBI (up 2.2%), Kotak Bank (up 1.8%), Canara Bank (up 1.8%) and Andhra Bank (up 1.3%)
The top losers in the banking space were Bank Of Baroda (down 3.4%), Bank Of India (down 3.2%), Union Bank Of India (down 3%), Indian Overseas Bank (down 1.9%) and Oriental Bank Of Commerce (down 0.6%),
The BSE Auto Index (up 5.9%): The top gainers in the auto space were Tata Motors (up 9.5%), Hero MotoCorp (up 6.5%), Ashok Leyland (up 6.3%), Eicher Motors (up 5.3%) and Maruti Suzuki (up 5.1%)
The BSE Oil & Gas Index (down 0.5%): The biggest gainers in the Oil & Gas space were HPCL (up 8.8%), Indian Oil (up 4.7%), Hindustan Oil Exploration (up 3.4%), BPCL (up 2.7%) and ONGC (up 2.4%).
The top losers in the oil & gas space were Chennai Petro (down 3.8%), Reliance Inds (down 2.8%), MRPL (down 2.5%) and Shiv-Vani Oil (down 1.2%).
The BSE Capital Goods Index (down 0.3%): The top gainers in the Capital Goods space were Astra Microwave (up 17.8%), APIL (up 8.6%), Ingersoll Rand (up 8.2%), HEG (up 6.3%) and Carborundum Universal (up 5.3%).
The Cement Sector: The top gainers in the cement sector were Kakatiya Cement (up 3%), Binani Indus (up 2.1%), Mangalam Cement (up 1.7%), Gujarat Sidhee (up 1.1%) and Grasim Inds (up 0.8%).
The Telecom Sector: The top gainers in the Telecom space were WWIL (up 7.5%), Tata Comm (up 3.4%), Reliance Com (up 2.2%), HFCL (up 2.2%) and Tata Teleservices (up 0.7%).
The top losers in the telecom sector were Idea Cellular (down 9%) and Gemini Comm (down 4.2%).
The Realty Sector (up 0.4%): The top gainers in the Real Estate space were HDIL (up 5.1%), Parsvnath (up 3.2%), Mahindra Lifespaces (up 0.9%), Omaxe (up 0.6%) and Ansal Properties (up 0.3%).
The top losers were Anant Raj Inds (down 2.1%), Unitech (down 1.6%), Sobha Developers (down 1.4%), Peninsula Land (down 0.5%) and DLF (down 0.3%).
The Metals sector (up 3.3%): The top gainers in the Metals sector were Bhushan Steel (up 5.1%), Tata Steel (up 4.6%), Adhunik Metaliks (up 4.3%), SAIL (up 4%) and Jindal Steel & Power (up 1.8%).