Key indices trade near their day’s high as mood remains upbeat post Budget

Key benchmark indices, continuing their post Budget rally, are trading at the day's high levels. Also, the sentiments were positive as India's manufacturing sector output accelerated in February at the fastest pace in three months and stood at 57.9, spurred by new order inflows, data released by HSBC Holding Plc and Markit Economics showed on Tuesday. Further, a firming global trend also boosted the buying sentiment in the domestic equity market as all the regional counterparts are trading in the green at this point of time and US index futures too are showing an up-tick in screen trade today. Back home, all the sectoral indices were trading higher with BSE Auto index being the top gainer, climbing more than 4% on the back of good monthly sales numbers. Auto stocks such as Maruti Suzuki, M&M, Bajaj Auto, Tata Motors, etc., are trading higher. Bankex, capital goods, realty and public sector undertakings are among the other big gainers in the BSE sectoral space. In a similar fashion, the broader markets also are trading in the green; the BSE Mid-cap and Small-cap indices surged 1.99% and 1.26%, respectively. The market breadth on the BSE was positive; the gainers thrashed the losers in a ratio of 1777:812 while 95 shares remained unchanged.

The BSE Sensex zoomed 410.91 points or 2.31% at 18,234.31. The index touched a high and a low of 18,234.69 and 17,964.39, respectively.

The BSE Mid-cap and Small-cap indices surged 1.99% and 1.26%, respectively.

All the sectoral indices were trading in the green. Auto up 4.67%, Bankex up 3.18%, Capital Goods (CG) up 3.12%, Realty up 2.23% and Public Sector Undertakings (PSU) up 2.10% were the major gainers.

Meanwhile, car market leader -- Maruti Suzuki (India) sold a total of 1,11,645 vehicles in February 2011. This includes 10,102 units of exports during the month. The company had sold a total of 96,650 vehicles in February 2010.

In February 2011, the company has sold 1,01,543 units in the domestic market, up 19.80% over corresponding month last year. The sales in A2 segment rose by 19.4%, in A3 segment surged by 27%, while the sales in C segment too registered a growth of 26.90%. In the month of February this year, the company has launched the Super Turbo Diesel SX4. During the month, the company has also launched the luxury sporty Kizashi sedan.

Maruti Suzuki posted a decline of 18% in its net profit of Rs 565.17 crore for the quarter ended December 31, 2010 as compared to Rs 687.53 crore for the quarter ended December 31, 2009. Its total income increased from Rs 7613.27 crore for the quarter ended December 31, 2009 to Rs 9622.72 crore for the quarter ended December 31, 2010.

The top gainers on the Sensex were Maruti Suzuki up 7.57%, M&M up 6.37%, NTPC up 5.38%, JP Associates up 4.84% and Bajaj Auto up 4.16%.

On the flip side, Bharti Airtel down 1.59%, Wipro down 0.71% and TCS down 0.06% were the only losers on the index.

As TRS, TDP, BJP, CPI workers and other Telangana supporters began their protest demanding separate statehood to the region, life in Hyderabad and nine other districts of Telangana region of Andhra Pradesh came to a halt.

The protesters of various pro-Telangana groups stopped dozens of trains in and around Hyderabad, Nalgonda, Warangal, Nizamabad, Khammam and other districts even as railway authorities have cancelled 25 express trains causing severe inconvenience to passengers.

The 'rail blockade' called by Telangana joint action committee (JAC) will continue for 12 hours, to demand the central government to introduce a bill in parliament for formation of separate Telangana state.

Meanwhile, the protestors have been warned by police and railway authorities that strict action would be taken against them if they resort to attacks on passengers or railway property.

The S&P CNX Nifty jumped 125 points or 2.34% to 5458.25. The index touched a high and a low of 5459.20 and 5373.55, respectively. 

The top gainers on the Nifty were Maruti Suzuki up 6.44%, M&M up 6.02%, NTPC up 5.59%, JP Associates up 5.31% and Suzlon Energy up 5.14%.

On the flip side, Bharti Airtel down 1.61%, Rel Capital down 0.79%, Wipro down 0.50% and Power Grid Corporation down 0.05% were the only losers on the index.

Rest of the Asian markets are trading in the green. Shanghai Composite jumped 0.51%, Hang Seng rose 0.58%, Jakarta Composite added 0.98%, KLSE Composite gained 0.59%, Nikkei 225 surged 1.22%, Straits Times soared 1.58% and Taiwan Weighted increased 1.49%.

Stock markets in South Korea remain close today on account of a public holiday.

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