QUICK REVIEW: 29-07-2010

The key benchmark indices hit fresh intraday highs at the fag end of the trading session after slipping into the red for a brief period in late trade, as global stocks rose. Revival in monsoon rains this month and the latest data showing easing of food inflation, supported stocks. The BSE 30-share Sensex was provisionally up 55.37 points or 0.31%, up close to 110 points from the day's low. Index heavyweights Reliance Industries (RIL) edged lower in volatile trade. The market breadth was negative.

The BSE Sensex provisionally closed above the psychological 18,000 mark. Banking stocks gained on expectations of strong lending growth in a fast rebounding economy. FMCG stocks rose as revival of monsoon rains may boost rural sales. Realty stocks reversed initial losses. But, telecom and metal stocks fell.

The market edged lower in early trade on weak Asian stocks. The market was a tad lower in morning trade after moving between positive and negative terrain near the flat line earlier. The Sensex hit fresh intraday low in mid-morning trade. The market came off the lower level later. The market moved into positive zone in early afternoon trade. The Sensex soon hit a fresh intraday high. Stocks were unable to sustain higher level - the key benchmark indices slipped into the red in afternoon trade.

The market regained strength to hit fresh intraday high in mid-afternoon trade. The key benchmark indices hit fresh intraday highs at the fag end of the trading session after slipping into the red for a brief period in late trade, as global stocks rose.

NSE's volatility index India VIX, which is a gauge of traders' perception of near-term risks in the market based on options prices, plunged 6.09% to 18.33. The index had risen 1.56% to 19.52 on Wednesday, 28 July 2010. India VIX is calculated based on the S&P CNX Nifty options prices. India VIX is a measure of the market's expectation of volatility over the next 30 calendar days.

European shares rose as strong earnings from AstraZeneca and Capgemini pleased investors. The key benchmark indices in UK, France and Germany were up 0.49% to 0.67%.

Chinese stocks led a recovery in Asian equities on Thursday, 29 July 2010, after the China's central bank said it will keep a moderately loose monetary policy. The key benchmark indices in China, Hong Kong, Singapore, Taiwan and Indonesia rose by between 0.01% to 1.29%. But, the key benchmark indices in Japan and South Korea were down by between 0.15% to 0.59%.

Trading in US index futures indicated that the Dow could gain 45 points at the opening bell on Thursday, 29 July 2010.

As per provisional figures, the BSE 30-share Sensex was up 55.37 points or 0.31% to 18,012.74. The Sensex rose 55.73 points at the day's high of 18013.10 at the fag end of the trading session. The index lost 54.53 points at the day's low of 17,902.84 in morning trade.

The S&P CNX Nifty was up 13.90 points or 0.26% to 5,411.45 as per provisional figures.

The BSE Mid-Cap index rose 0.28%. The Small-Cap index fell 0.15%.

BSE clocked turnover of Rs 4579 crore, lower than Rs 5028 crore on Wednesday, 28 July 2010.

The market breadth, indicating the health of the market, was negative. On BSE, 1545 shares declined while 1378 shares advanced. A total of 87 shares remained unchanged. The breadth moved between positive and negative zone throughout the day.

From the 30 share Sensex pack, 16 stocks fell and the rest rose.