Post session - Quick review

Benchmark equity indices gaining momentum for third consecutive session shut shop the last trading session of the week with fervor. Although gaining ground steadily for the session, Indian equity markets witnessed a profit booking towards the fag end of the trade, which drove benchmark equity indices tad away from intra-day’s high level. Revisit of global risk appetite on emerging signs of global recovery combined with good Q2 earnings of IT Major, Wipro, mainly contributed the upbeat trend of D-Street.

Thus, puffing up gains closer to a percent points, 30 share index, Sensex, cruised past the 18700 level, however, widely followed index, shying away from 5700 mark, negotiated a close sub that crucial level. Broader indices too took a trim of gains, by ending the session with profit of over quarter percentage. For the week, both Nifty and Sensex concluded higher above half a percent. Meanwhile, CNX Midcap index, outperforming larger peers, rallied over a percent, while BSE Smallcap index went home with loss of over 0.20%.

On the global front, Asian shares concluded near two weeks high on Friday as sentiment were bolstered after overnight data suggested some stabilization in the global recovery trend, particularly in the world's top two economies, the United States and China. Factory activity picked up moderately in China, which has spawned global growth in recent years, while business surveys showed other big Asian economies were slowly recovering as well, however there were mixed signals about the health of U.S. manufacturing.

On the other hand, European stock markets were trading downbeat ahead of U.S. jobs data that would provide the last major signal on the state of the world's largest economy before voters go the polls on Tuesday.

Back on the home turf, Capital Goods, Auto and Public Sector Undertaking (PSU) counters, putting forth an impressive show, lifted the markets higher. Nevertheless, even Q2 earnings of Wipro, buttressed the sentiment.  India's No. 3 software services provider -- Wipro -- topping quarterly profit estimates, forecasting modest growth and easing fears that global economic woes will curb outsourcing spending, spelled optimism across the Information Technology  (IT) Pivotal. On consolidated basis, the company has posted 23.81% jump in its net profit after taxes, minority interest and share of profit of associates at Rs 1610.60 crore for the quarter ended September 30, 2012 as compared to Rs 1300.90 crore for the same quarter in the previous year. Additionally, booming October sales numbers was mainly the reason behind the sharp uptick of Auto counters.

Cement stocks too were in demand as companies from this sector would start unveiling monthly sales volume data for October 2012. Saurashtra Cement, Heidelberg Cement India, India Cements, Dalmia Bharat Enterprises, Birla Corporation, Ambuja Cements, Jaiprakash Associates, UltraTech Cement, Madras Cement all nudged higher in the range of 1-3%. Also, Metal stocks rose for the second straight on improved economic data in China, largest consumer of metal. Furthermore, the market breadth on the BSE ended positive; advances and declining stocks were in a ratio of 1532:1324 while 135 scrips remained unchanged. (Provisional)

The BSE Sensex gained 182.38 points or 0.98% and settled at 18,744.08. The index touched a high and a low of 18,793.75 and 18,687.93 respectively. 25 stocks were seen advancing while 5 stocks were declining on the index (Provisional)

The BSE Mid-cap index was up by 0.29% while Small-cap index was up by 0.28%. (Provisional)

On the BSE Sectoral front, Capital Goods up by 1.52%, PSU up by 1.48%, Auto up by 1.46%, Bankex up by 1.39% and IT up by 1.09% were the top gainers, while there were no losers in the space.

The top gainers on the Sensex were Gail India up by 3.86%, Baja Auto up 2.87%, L&T up 2.38%, ICICI Bank up by 2.36% and Hero MotoCorp up 2.17%, while, Bharti Airtel down by 2.08%, HUL down by 0.79%, Jindal Steel down by 0.71%, Sun Pharma down by 0.55% and Reliance Industries down by 0.09% were the only losers in the index. (Provisional)

Meanwhile, facing stiff opposition, the government has put on hold the Rs 26.5 price hike on non-subsidized cooking gas (LPG), which consumers buy beyond their cheaper quota of six subsidized cylinders. The petroleum ministry reportedly late night sent out an instruction to public sector oil marketing firms for no hike. Interestingly, this decision has more raised more eyebrows than win applaud by common man, which comes just three days before Himachal Pradesh votes for a new government.

Earlier on November 1, the prices of LPG cylinders, which consumers buy beyond the quota, were hiked by Rs 26.50 to Rs 922 per unit on firming international rates.

The government had in September capped the supply of subsidized domestic LPG cylinders to six per household in a year. Any requirement above this would have to be bought by the consumers at market rate, which is more than double the subsidized price of Rs 410.42 per cylinder in Country’s capital, Delhi. State-owned oil firms review rates of non-subsidized LPG on first of every month based on the average imported cost and rupee-US dollar rate during the previous month.

India VIX, a gauge for markets short term expectation of volatility lost 2.98% at 13.66 from its previous close of 14.08 on Thursday. (Provisional)

The S&P CNX Nifty gained 50.20 points or 0.89% to settle at 5,695.25. The index touched high and low of 5,711.30 and 5,682.55 respectively. 42 stocks advanced against 8 declining ones on the index. (Provisional)

The top gainers on the Nifty were Gail India was up 4.20%, Bajaj Auto up 2.76%, L&T up 2.49%, ICICI Bank up 2.36% and Lupin was up 2.29%. On the other hand, Bharti Airtel down 2.19%, Jindal Steel down by 1.12%, HUL down by 0.65%, BPCL down by 0.50% and JP Associates down by 0.45% were the top losers. (Provisional)

The European markets were trading in red with, France’s CAC 40 down 0.07%, Germany’s DAX down 0.06% and the United Kingdom’s FTSE 100 down 0.04%.

Most Asian markets closed the shutter with green mark on the back of positive U.S. economic data, which has raised hopes of a global recovery. Regional stocks ended higher ahead of next week's meeting of the 18th National Congress of the Communist Party in Beijing. Hong Kong market touched its highest level since August 2011 lightened up by strength in Chinese financials and growth-sensitive sectors. Japan's Nikkei ended at a one-week high as a weaker yen underpinned demand for shares.