Post session - Quick review

Indian equity markets finally saw the light of day in today’s trading session as investors’ grabbed relatively attractive valuations after two sessions of fall supported by sanguine global leads, further fuelling the rally. Steadily capturing gains, barometer gauges audaciously sailed for the northbound journey. After faltering a bit in early deals, barometer gauges did not once look past, only to make good the losses incurred in the past two trading session. 30 share barometer index Sensex, accumulated over a gigantic 200 points to conclude above the 17600 level, while the widely followed index, Nifty, too garnered close to three fourth of a percent to shut shop above the crucial 5300 level. The broader indices too put forth vehement performance and puffed gains exceeding 0.75%.Market-men also opened fresh positions in today’s trading session on expectation that lead companies may come out with encouraging first quarter earnings. Markets also made the most out of Industry body’s SIAM recommendation of Re 1 per litre hike in diesel prices to the Government, which sent Auto stocks spiraling higher. Appreciation of Indian currency also bolstered sentiment. Indian rupee recovered over 40 paise from its opening level on persistent dollar selling by banks and exporters.

On the global front, Asian pacific shares mostly ended in negative terrain on sluggish trade data, which underscored weakness in domestic demand in the world's second-largest economy and exuberated concerns about deteriorating global economic conditions. Growth rate for China’s imports fell in June by half from the previous month's level to 6.3% while exports grew 11.3%, down from May's 15.3%.

Sentiment at Dalal Street also turned bullish tracing the optimism in European markets after the region's finance ministers made limited progress on measures to help embattled Spain. Euro area finance chiefs agreed a deal which will release 30 billion euros of bailout funds for Spain's troubled lenders by the end of July. Additionally, the euro zone ministers also decided to grant Spain an extra year until 2014 to reach its deficit reduction targets.

Back home, buying was broad-based, as all the 13 sectoral indices concluded in positive terrain. However, stocks from Capital Goods, Fast Moving Consumer Goods (FMCG), Auto and Banking counters were the prominent gainers. Auto stocks also managed to hog limelight in trade after the SIAM reported that car sales in the country grew 8.28% to 155,763 units in June 2012 amid tough market conditions. According to figures released by the Society of Indian Automobile Manufacturers (SIAM), domestic car sales stood at 1,43,851 units in the same month last year. However, markets hinging on the optimism chose to overlook the reports which stated that the industry body, SIAM has slightly lowered its car sales growth forecast for the year ending next March, as higher costs and slower economic expansion impinge on demand. The market breadth on the BSE ended positive; advances and declining stocks were in a ratio of 1720:1190 while 107 scrips remained unchanged. (Provisional)

The BSE Sensex gained 236.97 points or 1.36% and settled at 17,628.95. The index touched a high and a low of 17,631.19 and 17,424.29 respectively. 28 stocks were seen advancing against 2 declining ones on the index (Provisional)

The BSE Mid-cap index gained 1.11% while Small-cap index was up 0.79%. (Provisional)

On the BSE Sectoral front, FMCG up 1.89%, Capital Goods up 1.82%, Bankex up 1.52%, Auto up 1.50% and Metal up 1.40% were the top gainers while, there were no losers.

The top gainers on the Sensex were ITC up 2.84%, Hindalco Industries up 2.70%, Maruti Suzuki up 2.52%, Tata Motors up 2.41% and Jindal Steel up 2.39% while, Wipro down 0.48% and Sun Pharma down 0.02% were the only losers in the index. (Provisional)

Meanwhile, the domestic car sales has expanded by 8.28 percent to 1,55,763 units in June as against 1,43,851 units in the same month last year while, the sales of trucks and buses rose 4.7 percent in June to 64,926 vehicles.

Motorcycle sales grew 6.58 percent during the month to 879,713 units from 825,388 units in the same month last year while, total two-wheeler sales in June this year 9.2 percent to 1,169,733 units from 1,071,161 units in the same month last year, according to figures released by the Society of Indian Automobile Manufacturers (SIAM).

Meanwhile, sales of commercial vehicles grew 4.71 percent to 64,926 units in June from 62,007 units in the year-ago period.

Overall domestic sales of automobiles across categories in June 2012 was 14,85,744 vehicles as against 13,62,495 in June 2011, indicating an increase of 9.05 percent year on year.

India VIX, a gauge for market’s short term expectation of volatility lost 4.75% at 17.83 from its previous close of 18.72 on Monday. (Provisional)

The S&P CNX Nifty gained 70.85 points or 1.34% to settle at 5,346.00. The index touched high and low of 5,348.55 and 5,284.55 respectively. 48 stocks advanced against 2 declining ones on the index. (Provisional)

The top gainers on the Nifty were Axis Bank up 4.07%, JP Associates up 3.48%, Reliance Infrastructure up 3.09%, PNB up 2.94% and Bank of Baroda up 2.84%. On the other hand, ACC down 0.89% and Wipro down 0.41% were the only losers. (Provisional)

The European markets were trading in green, with France's CAC 40 up 1.19%, Germany's DAX up 1.18% and Britain’s FTSE 100 up 0.80%.

Most of the Asian markets fell on Tuesday after reports showed that Chinese imports grew about half the pace as economist expected, this indicated that China which is regarded as the World's second biggest economy is gradually slowing down. In the morning session its stocks rose due to Europe's finance chief made progress on Spain bailout but later gave away all its gains.

The world’s largest miner BHP Billiton erased its profits after imports to China increased about half the pace. China Yurun Food Group lost 6.6 percent after its chairman resigned. Shares of Nikkei 225 fell for the fourth consecutive session erasing morning gain after release of weaker Chinese import data showing concerns of slowing demand for second biggest economy. Hang Seng index closed on Tuesday on a light volume as investors were not so much interested in trading, on concern of Chinese economic growth.

Kospi Composite continued slide for the three consecutive sessions on Tuesday as foreign investors kept on dumping their stocks due to global economic slowdown. Early in the trade Kospi Composite started on bullish note over undervaluation of local stock market but in the afternoon it turned into bearish phase on worries about global economic slowdown.