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Indian stock market daily morning report (January 03, 2013, Thursday)

Contributed by Keynote Capitals

Views on markets today

BSE Sensex and Nifty50 indices rose for the second consecutive session to finish at two-year highs Wednesday, as investors across the globe cheered the resolution of the US fiscal crisis. BSE Sensex gained 133.43 points or 0.68% to close at 19,714.24 and Nifty50 surged 42.40 points or 0.71% to close at 5,993.25

Bajaj Auto's motorcycle and commercial vehicle sales rose 13% and 9%, respectively, last month over December 2011. The consolidated sales and export figures are 13% and 5%. The company gained 3% to close at Rs2202.60.

Shares of BHEL gained 2.38% to close at Rs 238.30 on reports that the government has imposed 35% safeguard duty on electrical insulators imported from China.

Eicher Motor, Torrent Power, Cadila Healthcare and Colgate Palm (^Cr) were the key losers in “A” group, declined between 1.9-2.2%.

Among the 13 sectoral indices, two sectors closed in negative, while remaining eleven sectors closed in positive. Top Gainers: BSE CD up by 1.65%, BSE CG gained by 1.40%, BSE Oil & Gas surged by 1.29%. Top Losers: BSE FMCG down by 0.26%, BSE IT down by 0.07%.

Market breadth was positive at ~1.54x as investors bought large cap stocks. On provisional basis, FII bought equity of '11.07bn and domestic institutions sold equity of '4.17bn in cash segment.

Indian markets may open positive today following the Asian markets.

Economic and Corporate Developments

The HSBC Markit India Manufacturing PMI, which gauges the business activity of India's factories jumped to 54.7 in December from 53.7 in November, its biggest monthly rise since January 2012.

Finance Minister P. Chidambaram Wednesday said the government would decide on deregulating diesel prices after looking into various dimensions of the issue.

Buzzing Stocks

M&M to strengthen Rexton production to cut waiting period

Emco gets Rs 458 crore order from Power Grid Corporation

Reliance Industries has finalised its 2013 term contracts to supply gasoil and jet fuel to several buyers and is negotiating with a few more, all at levels higher than those of most other refiners

SpiceJet has shortlisted three foreign investors to raise funds between USD 100-150 million, reports CNB-TV18's

Tata Motors launched a new format of passenger car showrooms and said it will upgrade up to five sales points across the country by March

IT firm Geometric said its subsidiary, Geometric Europe, has acquired German company 3Cap Technologies for 11 million euros (Rs 79.19 crore). "3Cap is valued at 11 million euros, of which 7.5 million euros will be paid up front. Geometric is funding the acquisition out of accrued cash

Tata group will invest more than Rs 45,000 crore on various businesses over next two years and would look to expand its presence in global markets besides in India, the group's new chief Cyrus P Mistr