MUMBAI: For a week that saw a bomb blast and a Shiv Sena called bandh in quick succession, the markets were quite buoyant, showing a healthy correction mid-week amidst liquidity driven rallying.
Typically, the bomb blast on Monday evening followed by the bandh call on Wednesday would have been expected to send the markets into a volatile fit but not this time. The market largely remained bullish through the week despite continued rallying and stock correction.
Fuelled by sustained interest in old economy counters, the 30-share BSE Sensex closed the week this Friday above the 3800 mark at 3815.31, up 22.70 points. It gained a strong 88.85 points over last week’s Friday close of 3726.46.
The NSE Nifty ended the day higher by 0.83 per cent at 1195.75.
By the end of the trading session, leaders to laggards parked at 17:13 on the BSE sensex, while overall scrips registered an advances/declines ratio of 1,056:915, with 98 scrips remaining unchanged.
Total market cap for the BSE sensex was Rs 3124.4744 billion out of which the media and publishing sector accounts for 1.56 per cent.
In line with the general trend of stock specific movements, media stocks also showed mixed results. Adlabs closed on Friday at Rs 57 and Tips at Rs 46 gaining 3 per cent each over Thursday’s close. TV18 was up 1 per cent at Rs 109. The sliders were Zee Telefilms at Rs 118.50, Mukta Arts at Rs 52.50 and Sri Adhikari Brothers at Rs 70.40.
On week-on-week basis, Zee Telefilms Ltd, the only media company on the 30-scrip BSE sensex, gained about two per cent over last week’s close of Rs 115.90 (25 July) to close on Friday at Rs 118.65. The volume of shares traded was above 2.5 million shares. On the Nifty, the scrip lost 2.35 per cent intra day to close the last day of the week at Rs 118.50. NSE registered a volume of around 2.97 million shares.
Television Eighteen India scrip opened the day at Rs 108.95; dipped very marginally to end the day at Rs 108.65. The volume of shares traded was 185277. On the NSE, the scrip opened the day at Rs 106.55; gained Rs 2.10 to end the day at Rs 108.65. The volume of shares traded was 334494.
On the BSE, Balaji Telefilms opened the day at Rs 72.25 and closed at Rs 71.70 ; and remained stable vis-?-vis Rs 72 on 25 July. A total of 106158 shares were traded on the bourse. On the NSE, the scrip opened the day at Rs 72.80; dropped marginally to end the day at Rs 71.70. It traded a total of 203427 shares.
Sri Adhikari Brothers Television Network (SABTNL) opened the day at Rs 73.95; dropped 3.56 per cent to end the day at Rs 70.40; as against Rs 73 on 25 July. Traded volumes throw up a figure of 48022 shares. On the NSE, the scrip opened the day at Rs 73.10; dropped about 3.56 per cent and ended the day at Rs 70.50. The volume of shares traded was 104250.
On the BSE, Cinevista opened the day at Rs 30.80; dropped marginally from the previous week’s close of Rs 30 to end the day at Rs 29.75. The scrip registered volumes of 1874 on the bourse. On the NSE, the scrip opened at Rs 30.15 and ended the trade at Rs 30.30 to effect volumes of 4835.
Creative Eye opened the last trading day of the week at Rs 14.65; dropped 10 paise to end the day at Rs 14.55. On the NSE, the scrip opened the day at Rs 15.00; dropped 2.66 per cent to end the day at Rs 14.60.
Interestingly, on Wednesday, the day of the bandh, the Sensex closed at 3780.42 scaling an intra day high of just under 3800 with volumes on BSE reaching 138.77 million shares. Analysts felt that the bandh had little chances of having any major impact on the markets because now trading can easily be done across the exchanges even from far-flung locations throughout the country.
All in all, analysts feel that the markets have been positive and show promise of crossing the 4000 level as early as next week.
Tag: BSE Sensex
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Markets wrap-up a positive week despite bandh and blast
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Media stocks gain but Balaji slips on the bourses
MUMBAI: The markets settled above the key resistance level of 3037-3049 on Friday, 16 May 2003 and the 30-stock BSE Sensex was up 43.61 points at 3,056.58 and the NSE Nifty was up 13.25 at 973.10 – as compared to the BSE Sensex of 2,950 last week. It was a good week for media stocks, as all the companies except for Balaji Telefilms, gained on the bourses.
On 16 May, Zee Telefilms opened the day on the Bombay Stock Exchange (BSE) at Rs 74.60, gained 3.82 per cent to end the day at Rs 77.45 (as compared to Rs 75.60 on 9 May). The volume of shares trades was around 1.84 million shares on 16 May. The news pertaining to Zee group’s plans to enter the film distribution business seems to have helped the scrip. Zee also announced its first Indo-France film venture earlier this week.
On the National Stock Exchange (NSE), the Zee Telefilm scrip started the day (16 May) at Rs 75.20; rose 4.14 per cent to end the day at Rs 77.90 (as compared to Rs 75.40 on 9 May). The volume of shares traded was around 4.12 million.
The Balaji Telefilms scrip opened the day (16 May 2003) at Rs 58.75; dropped 6.81 per cent and ended the day at Rs 54.75 (as compared to Rs 59.75 on 9 May). The volume traded was 189,722 shares.
On the NSE, the scrip opened the day at Rs 56.90; fell by 8.74 per cent to end the day at Rs 53.80 (as compared to Rs 59.65 on 9 May). The volume of shares traded was 782,079. Balaji Telefilms annual results will be announced on 22 May.
The Television Eighteen India scrip opened at Rs 77.65 on 16 May, gained 4.19 per cent to end the day at Rs 80.90 (as compared to Rs 71.05 on 9 May and Rs 74.95 on 2 May) on the BSE. On the NSE, it opened at Rs 79.90, gained 3.59 per cent and ended the day at Rs 80.75 (as compared to Rs 70.90 on 9 May and Rs 74.60 on 2 May). The volume of shares traded was 115,931 on the NSE.
Sri Adhikari Brothers Television Network (SABTNL) opened the day (16 May) at Rs 63.05; gained 0.71 per cent to end the day at Rs 63.50 (as compared to Rs 54.45 on 9 May). The volume of shares traded was 61,859 on the BSE. On the NSE, the scrip ended the day at Rs 63.75 (up 0.79 per cent) as compared to Rs 54.40 (on 9 May ) and Rs 55.75 (on 2 May). The volume of shares traded was 199,652 on the NSE.
Cinevistaas opened the day (16 May) at Rs 27.30; gained 2.56 per cent to end the day at Rs 28 (as compared to Rs 23. 50 on 9 May) on the BSE. On the NSE, the scrip opened at Rs 27.75; gained 8.29 per cent to end the day at Rs 29.40 (as compared to Rs 25.50 on 9 May).
Creative Eye opened the day (16 May) at Rs 12.70; rose 12.20 per cent to end the day at Rs 14.25 (as compared to Rs 11.55 on 9 May) on the BSE. On the NSE, the scrip rose 10.94 per cent to end the day at Rs 14.20 (as compared to Rs 11.50 on 9 May).
The ETC Networks scrip rose opened the day at Rs 47.35; rose 2.22 per cent to end the day at Rs 48.40 (as compared to Rs 45 on 9 May and Rs 38.85 on 2 May) on the BSE.
Exchange rate: $1 = Rs 47.15 -
Media stocks slightly lower than their last week levels
MUMBAI: The week witnessed heavy volatility and the 30-stock BSE Sensex fell by 16.63 points, or 0.56 per cent to dip to 2,950. The frontline stocks lost ground even as there was interest in mid-cap stocks and companies. Amongst the media stocks, companies such as ETC Networks and Creative Eye have gained whereas others dipped from their last week price levels.
On 9 May, Zee Telefilms opened the day on the Bombay Stock Exchange (BSE) at Rs 78.65 dropped 3.38 per cent to end the day at Rs 75.60 ( as compared to Rs 76.55 on 2 May). The euphoria over the results declared on 28 April 2003 continues and has managed to ensure that the price remained over the Rs 70-mark. The volume of shares trades was around 2.74 million shares on 9 May.
At the National Stock Exchange (NSE), the Zee Telefilm scrip started the day (2 May) at Rs 78.40; fell by 4.38 per cent to end the day at Rs 75.40 (Rs 76.75 on 2 May). The volume of shares traded was around 5.35 million.
The Balaji Telefilms scrip opened the day (9 May 2003) at Rs 60.3; dropped 0.91 per cent and ended the day at Rs 59.75 (as compared to Rs 64.90 on 2 May). The volume traded was 38,559 shares.
On the NSE, the scrip opened the day at Rs 60.00; fell by 0.42 per cent to end the day at Rs 59.65 (as compared to Rs 65 on 2 May). Balaji Telefilms annual results will be announced on 22 May.
The Television Eighteen India scrip opened at Rs 72.65 on 9 May, dropped 2.20 per cent to Rs 71.05 (as compared to Rs 74.95 on 2 May) on the BSE. On the NSE, it opened at Rs 73.00, dropped 2.34 per cent Rs 70.90 ( as compared to Rs 74.60 on 2 May).
Sri Adhikari Brothers Television Network (SABTNL) opened the day (9 May) at Rs 54.70; dropped 0.46 per cent to end the day at Rs 54.45 (as compared to Rs 56.05 on 2 May). On the NSE, the scrip ended the day at Rs 54.40 (down 1.00 per cent) as compared to Rs 55.75 on 2 May.
Cinevistaas opened the day (9 May) at Rs 26.05; dropped by a huge 9.79 per cent to end the day at Rs 23. 50 – as compared to Rs 24.40 on 2 May on the BSE. On the NSE, the scrip opened at Rs 25.90; dropped by 3.59 per cent to end the day at Rs 25.50.
Creative Eye opened the day (9 May) at Rs 12.20 and dropped by 5.33 per cent to Rs 11.55 on the BSE. On the NSE, the scrip dropped by 6.50 per cent to end the day at Rs 11.50.
The ETC Networks scrip rose opened the day at Rs 44.85; rose by 0.33 per cent to end the day at Rs 45 ( as compared to Rs 38.85 on the BSE on 2 May). -
Media and tech stocks set bourses on fire
Zoom. The stockmarket polevaulted today on a manic Monday which proved to the best in the past three months. The Bombay Stock Exchange sensitive index (BSE Sensex) ended firm at 3,322.77, up 70.57 points at the end of the day. The National Stock Exchange Nifty Index rose 21.60 points to end at 1,080.60.
Institutions went berserk as they went about picking selective counters and speculators ploughed into second rung media and tech stocks. Media and tech stocks were at the forefront. Infosys was the top gainer with a close to 10 per cent rise to Rs 3,910. The next highest climber was top media stock Zee Telefilms, which scampered up 9.8 per cent to Rs 132.80 till close of day. The reason: the buzz that Zee TV has offloaded equity to a foreign media major continues to add buoyancy to the stock, even though the company has denied the rumour outright. Additionally, Zee Telefilms advisor UBS Warburg has placed a buy recommendation on the stock, which has been fuelling the upward run, say market sources.
The market expects viewers to respond well to the mythological serials such as Ramayan and Mahabharat which are slated to launch soon on struggling mother channel Zee TV. Finally, the perception is that Zee Telefilms has successfully transitioned from a free to air to a pay TV regime.
Other media stocks also joined the party. Sri Adhikari Brothers skyrocketed 20 per cent to close at Rs 78, while Jain Studios zipped up 14 per cent closing at Rs 49. TV18 closed stronger by 12 per cent at Rs 98 while Pentamedia was up 10 per cent at Rs 70. Tips notched up gains of 8 per cent when trading ended, with its price at Rs 99. Saregama India went up 11.91 per cent to Rs 155. Cinevista Communications (Rs 46.10), Padmalaya Telefilms (Rs 106.50), Adlabs Films (Rs 56.30), Creative Eye (Rs 34.65), Mid-Day Multimedia (Rs 23.90), Pritish Nandy Communications (Rs 30.90), and Crest Communications (Rs 70.15) hit their individual upper limits of their circuit breakers.
On the tech front, software major Satyam Computers gained 5 per cent to close at Rs 224 while second line techs attracted considerable buying and closed with huge gains. Rs Software was up 16 per cent at Rs 60 while Visualsoft gained 15 per cent at its close of Rs 162. Polaris was up 15 per cent at Rs 148 while Aptech closed at Rs 79 with a gain of 12 per cent. Wipro gained 10 per cent at Rs 1,462.
Momentum stocks Global Tele and HFCL also notched up neat increases. Global Tele was up 4 per cent at Rs 123 while HFCL gained 6 per cent at its close of Rs 103.
While new economy stocks rose, old economy stocks such as FMCG declined with keen selling taking place.
Stockmarket sources say that the movement in certain new economy stocks can also be attributed to Ketan Parekh, who has supposedly become active again in his favourite stocks once again. Additionally, observers point out that the ripple effect of an Asian recovery in the wake of better tidings on Wall Street on Friday helped the Indian stockmarkets go up.
Asian bourses were singing with the Hang Seng index up by 69.65 points, Tokyo’s Nikkei up by 367 points to 11,064, Seoul’s Kospi by 29.38 points to 675. The Straits Times’ Index and Taipei’s Taiex also showed northward movements.