On Tuesday 4635-4610 will be buy area. Strong Markets will not break 4580 .Above 4660 Nifty could test 4705-4742 .Further it could open for 4794.Nifty has support at 4635. Below it could open for 4590-4545-4475( All buying Levels) .
We expect the markets to close posetive for the day
Nifty Call: Buy above 4660 for a tg of 4690-4710 (Intraday)
Sell only below 4645 for a tg of 4610 -4580 (Intraday)
Stock of the Day: Buy KEC only above 538 tg 552-555 sl 525 (Intraday)
Satyam buy above 122 for a tg of 125-128 sl 119 (intraday)
Selan Exploration buy above 300 for a tg of 308-312 sl 296 (intraday)
Madhucon Project buy above 236 for a tg of 248-260 sl 232 (Postional and Intraday call)
Tech Mahindra Buy Above 950 for a tg of 958-967 sl 945 (intraday
Monday, August 31, 2009
Sensex drops on China's sharp fall, ends down 255 pts
| The Sensex snapped a seven-day winning streak and closed sharply lower on the back of sell-off in heavyweights and weak global cues. Selling in technology, telecom, metal, private power, FMCG, select banking and infrastructure companies' shares dragged the Nifty below 4700. Fall across the globe was the main reason behind today's weakness. Shanghai started the decline in the early trade and as the day proceeded it extended its losses. It closed 6.7% lower at 2,667.745 and saw worst ever closing in the year 2009. It plunged 21.8% in the month of August and underperformed the other markets. Ba Shusong, deputy director of the State Council’s Development Research Center said that China’s economic growth may start to slow in the second quarter of the next year as the impact of government stimulus policies diminishes. Among the other Asian markets, Hang Seng and Straits Times fell 1.9% each. Jakarta and Kospi declined 1-1.5%. Nikkei fell 0.4% while Taiwan Weighted gained 0.24%. European markets were down 0.8% each and US index futures down 0.7% each, at the time of closing of Indian equities. The 30-share BSE Sensex tumbled 255.70 points or 1.61%, to settle at 15,666.64, after seeing an intraday low of 15,589.80. The 50-share NSE Nifty touched a day's low of 4635, before closing at 4662.10, down 1.48% or 70.25 points. Heavyweights like Reliance Industries, L&T, Infosys, Bharti Airtel and SBI dragged indices the most. The Nifty September futures were still at premium. The Nifty 4,600 Put and 4,900 Call saw big build-ups in today's trade. Sanjay Dutt, Quantum Securities has advised investors to book profits at current levels. He said, 30-35% of Nifty components were surrounded by uncertainties. On higher side, he said, Nifty was unlikely to go beyond 4750-4800 in the near-term. However, on the downside, he added, Nifty could go to 4450 and not 4100 levels. "We should stop somewhere around 4450-4550 on the Nifty and consolidate at that level before we get some more steam to actually take out the 4800 levels post sometime October-November", he said. Economy data The Q1 gross domestic product (GDP) growth numbers were in-line with estimates, stood at 6.1% versus growth of 5.8% in the previous quarter and 7.8% in Q1 of last year. CNBC-TV18 poll projected at 6.2%. This story will be updated soon. Please check it in a while... On the next page - see how Indian markets performed in the last couple of hours _PAGEBREAK_ Sensex slips further; RIL, Infosys, ICICI Bk, L&T drag At 2.22 pm, the Sensex slipped further and didn't show any sign of recovery. Except realty index, all the other sectoral indices were trading negative. Heavy selling pressure was seen in metal, IT, FMCG, capital goods and oil & gas stocks. Stocks like Reliance, Infosys, ICICI Bank, L&T and HDFC were the negative contributors to the Sensex. The Sensex was down 265.45 points or 1.67% at 15656.89, and the Nifty was down 69.90 points or 1.48% at 4662.45. About 1524 shares advanced, 1331 shares declined, and 331 shares were unchanged. Anand Tandon, Director – Equities, Brics Securities, said the market was in fair value range. “The estimate is that we are at Rs 854 [earnings per share] for the year and at the higher end [of the P/E], which is about 18.5,” he said, adding that the likelihood was that earnings estimates would go up because the first quarter was good and monsoon may not impact companies’ earnings too much. “It then appears we are around 16.16.5 times rather than 18.5. Does that mean there is tremendous upside from here? Not likely but it could actually go back to about 18-18.5 times, so you may have 1,000 points or little more than that perhaps on the Sensex.” Top losers on the Sensex were Tata Steel at Rs 419.95 down 4.25%, ITC at Rs 229.20 down 3.19%, Hindalco at Rs 105.80 down 3.16%, TCS at Rs 525 down 2.87% and Bharti Airtel at Rs 422.80 down 2.76%. Index heavyweight Reliance was trading at Rs 2,016.55 down 2.6% from its previous close of Rs 2,070.30. Tech major Infosys was trading at Rs 2,136.00 down 2.36% from its previous close of Rs 2,187.65. Cigarette major ITC was trading at Rs 229.20 down 3.19% from its previous close of Rs 236.75. Nifty extend losses; IT, telecom, banks, metals decline At 13:18 hours IST - the Nifty remained under selling pressure on the back of negative global cues. Asian markets started falling in the early trade with Shanghai losing 6.7% while others did not fall in line with Shanghai and European markets were also trading 0.5% lower, which was putting pressure on the markets.The sell-off was seen in technology, telecom, banking, metal, auto (four-wheeler) and private power companies' shares. L&T, BHEL and Reliance Industries were also under pressure. However, buying in selective stocks like ONGC, NTPC, DLF, Cairn, Unitech, HDFC Bank, Siemens, BPCL, ABB, Grasim and Ambuja Cements capped the losses to some extent. The Sensex lost 215 points, to 15,708 and the Nifty fell 65 points, to 4,667. However, the broader indices were marginally in the green. The market breadth was positive; about 1653 shares advanced while 1203 shares declined on the BSE. Nearly 330 shares were unchanged. Maytas Infra locked at 5% upper circuit. Government said the company was only facing liquidity crunch and probe proved no prima facie accounting fraud in Maytas. Its current order book stood at Rs 7,000 crore and prima facie Rs 391 crore siphoned from Maytas to Satyam. It has cash profit of Rs 5 crore this quarter. In the telecom pack, Tata Communication, Idea Cellular, Bharti Airtel, Tata Teleservices and Reliance Communication fell 1-1.9%. Technology stocks like TCS, HCL Tech, Infosys and Wipro were down 2-2.9%. In the auto space, Bharat Forge, Ashok Leyland, Tata Motors, Maruti Suzuki, Apollo Tyres and M&M declined 0.8-2.9%. In the metals space, Hindalco, Sterlite Industries, Tata Steel, Jindal Steel, SAIL, JSW Steel and Sesa Goa slipped 2-2.9%. In the banking space, ICICI Bank, Axis Bank, SBI, Yes Bank and Kotak Mahindra were down 1-2%. Most active shares on the bourses were Unitech, Mahindra Satyam, Aban Offshore, DLF and Reliance Capital. Top percentage gainers - Compuage Info, Century Plyboard, ILandFS, Southern BioTec, Gujarat Industries Power, Pitti Lamination, Rane Holdings and FIEM Industries were up 11-20%. Top percentage losers - GM Breweries, SRF Polymers, Menon Bearings, SPICE, Banco Products, ETC Networks, WABCO-TVS and Surana Corp fell 5-8%. Sensex tumbles 200 points; Shanghai down 6% At 12.10 pm, the Sensex was trading weak and lost over 200 points. The Nifty was facing stiff resistance at the 4700 mark. Selling pressure was seen in technology, metal and auto stocks while realty, cement, oil marketing stocks were witnessing some buying interest. Stocks like Reliance Industries, SBI, ITC, L&T and BHEL were the major draggers to the bourses. On the global front, The Sensex was down 209.76 points or 1.32% at 15712.58, and the Nifty was down 51.95 points or 1.10% at 4680.40. About 1687 shares advanced, 1125 shares declined, and 373 shares were unchanged. Sanjay Dutt, Quantum Securities has advised investors to book profits at current levels. He said, 30-35% of Nifty components were surrounded by uncertainties. On higher side, he said, Nifty was unlikely to go beyond 4750-4800 in the near-term. However, on the downside, he added, Nifty could go to 4450 and not 4100 levels. “Nifty should cross 5000 by year-end,” Dutt said. Top losers on the Sensex were L&T at Rs 1,569.75 down 2.78%, Index heavyweight Reliance was trading at Rs 2,039.50 down 1.49% from its previous close of Rs 2,070.30. Tech major Infosys was trading at Rs 2,131.40 down 2.57% from its previous close of Rs 2,187.65. Cigarette major ITC was trading at Rs 233.20 down 1.5% from its previous close of Rs 236.75.Nifty trades below 4700; RIL, Infy, TCS, L&T, Bharti drag At 10:55 hours IST, the Nifty was consistently trading below the 4700 mark on the back of relentless selling technology, telecom, capital goods, banking, metal and auto (four-wheeler) stocks. Reliance Industries was the main dragger on the Nifty, down 1.5%. More than 5% fall in Shanghai was the main reason behind this downtrend. Among the Asian markets, Hang Seng lost 1.8%. Jakarta, Straits Times and Kospi declined 1% each. However, Nikkei and Taiwan Weighted were flat in trade. The Nifty slipped 50 points to 4,681 and the Sensex declined 171 points to 15,750. The broader indices were flat; about 1,541 shares advanced while 1246 shares declined on the BSE. Nearly 398 shares were unchanged. India’s economy has seen a slightly better uptick in the first quarter of financial year 2008-09, signalling hopes that economic recovery is underway. The Q1 gross domestic product (GDP) growth stood at 6.1% versus growth of 5.8% in the previous quarter and 7.8% in Q1 of last year. Negative contributors - Reliance Industries, Infosys, ICICI Bank, L&T, Wipro, HDFC, TCS and Bharti Airtel were down 1-2.5%. Top gainers - DLF was at Rs 421.25, up 1.96%; Hero Honda was at Rs 1,519.40, up 1.02%; ONGC was at Rs 1,190.25, up 0.94%; Grasim was at Rs 2,673.50, up 0.58%; NTPC was at Rs 211.20, up 0.50%; Unitech was at Rs 103.45, up 4.39%; Cairn India was at Rs 269, up 3.42%; Siemens was at Rs 516.50, up 1.52% and ABB was at Rs 764, up 1.46%. In the midcap space, HOEC, Pidilite Industries, Nirma, Godrej Industries and Ackruti City were up 4-5% while Anant Raj Industries, Welspun Gujarat, Allcargo Global, GE Shipping and Indiabulls fell 2-4%. In the smallcap space, Century Plyboard, Empee Distiller, Dalmia Cement, Pratibha Industries and Uttam Galva surged 10-17%. However, Banco Products, WABCO-TVS, Vipul, JMD Telefilms and Infotech Enterprises lost 4-6%. Sensex slips on weak Asian cues; metals, IT, cap goods dip The Sensex opened sharply lower on the back of weak Asian cues, wherein Shanghai was down 5.4%. The Nifty slipped below the 4700 level. Metal, technology, capital goods and private banking stocks were witnessing selling pressure. At 9:57 am, the Nifty declined 58 points to 4,674 and the Sensex was down 183 points to 15,733. The CNX Midcap fell 42 points to 6,070 and the BSE Smallcap Index lost 26 points, to 6,935. About 223 shares advanced while 550 shares declined on the NSE. Metal stocks like Tata Steel, Nalco, Jindal Steel & Power, SAIL and Sterlite Industries were down over 2% each. In the technology space, TCS, Infosys, Wipro and HCL Tech were down 1.5-3%. Capital goods stocks like BHEL and L&T fell 1.5-2%. Axis Bank, ICICI Bank, HDFC Bank, HDFC and Reliance Industries were the other losers. However, Cairn was up 2%. Midcap space Orchid Chem, Suven Life, KPIT Cummins, Mahindra Satyam and Aban Offshore lost 1.5-5%. However, HOEC, Provogue, Shasun Chem and Maytas Infra were up 3-5%. Global cues: Asian markets were trading lower. Shanghai was down 5.37%. Hang Seng and Jakarta Composite fell 1.7% each. Straits Times and Kospi declined 1-1.3%. Taiwan Weighted fell 0.44% and Nikkei was down just 0.1%. The SGX Nifty fell 1.5%. The US stocks slipped from the day's high after US consumer sentiment hit 4-month low. The Dow Jones Industrial Average was down 36.5 points at 9,544, which was off 86 points from day's high of 9,630. The S&P 500 Index was down 2 points at 1,029, which was off 10 points from day's high of 1,039. The Nasdaq Composite ended flat at 2,029, which was off 30 points from day's high of 2,059. Commodities The Reuters CRB (Commodity Research Bureau) Index was up 0.5% at 257.8 on Friday. Crude gained for the third session and was up 5.5% in August. Gold rose 1.2% at $958.3/ounce and was trading at 3-week highs. Base metals gained for 7 straight weeks. Copper gained 4% last week and was trading at 11-month highs. Lead gained 13% last week and was trading at 13-month highs. Sugar gained 8% last week and was trading at 30-year high. Market cues: -FIIs net buy USD 274 million in cash on August 27 -MFs net buy Rs 16.7 crore in cash on August 27 -Total F&O Open Int up by Rs 6311 crore at Rs 68864 crore -FIIs net buy Rs 554 crore in cash on August 28 (prov) -DIIs net buy Rs 5.5 crore in cash on August 28 (prov) -FIIs net sell Rs 161 crore in F&O on August 28 F&O cues: -Total Futures Open Int up by Rs 2118 crore -Total Options Open Int up by Rs 4193 crore -Nifty up 0.9%, Futures Open Int up 6% -Nifty September Fut trading at 6-pt premium versus 10-pt premium -Stock futures Add 6.6 crore shares in Open Int -Nifty Open Int PCR up from 1.18 to 1.2 -Nifty Puts Add 44.8 lakh shares , Nity Calls Add 33 lakh shares -Nifty IVs at 31-34% levels -Nifty Sept 4600 Put Adds 7.7 lakh shares in Open Int -Nifty Sept 4800 Call Adds 6.2 lakh shares in Open Int -Nifty Sept 4700 Put Adds 5.8 lakh shares in Open Int -Nifty Sept 4500 Put Adds 5.7 lakh shares in Open Int -Nifty Sept 5000 Call Adds 5.5 lakh shares in Open Int -Nifty Sept 4900 Call Adds 4.4 lakh shares in Open Int -Note: Highest outstanding Nifty Open Int at 4500 Put and 4300 Put and 4900 Call |
Sunday, August 30, 2009
trade carefully
we are sugesting to trade with strict stoploss because market will be volatile next week
Punter's Call 28-Aug-2009 Above 4700 After struggling for days, on the very first day of the September series, the stock market closed at all-time high for the year.
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Saturday, August 29, 2009
Nifty breaks 4700; 5K closer to reality now, say experts
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it was a surprise turn for the markets on Friday. Trade started off with much uncertainty but went on to spurt ahead later in the day. The markets continued to extend their gains and closed at fresh 2009 highs. Positive global cues and strong buying interest helped the markets extend their winning streak to seven straight sessions. It was the large-caps that proved to anchor the market taking it past 4700 and more importantly, keeping it there. Now that 4,700 has been broken, is 5,000 a distant dream?  Hitendra Vasudeo, stockmechanics.com says that the breakout point was placed at 4,735 and we have crossed it. Today, if we can close above 4,735 then expect a rally towards 5,000 at least and to an outer extent to 5,250. He adds the one should maintain overall long positions with a stop loss of 4,600, below which, the downside momentum will resume.  Prakash Gaba, Technical Analyst too endorses a similar view saying that the Nifty could cross 5,000. "A close above 4,789 can take it to 5,154 levels." Similarly, on the Sensex, he feels that 16,046 is a strong support level and close above 17,249 will rally the markets further. Gaba says that the Indian markets have formed a base. The rally was strong. It consolidated in the narrow band and now the rally will get even stronger. The S&P 500 is showing a classical reversal pattern. Jitters in the Chinese markets will not impact the Indian markets. Reliance Industries can touch Rs 2,200 in the near term. If the rally continues it can also go up to Rs 2,400-2,600. He maintains target of Rs 885 and Rs 2,000 on ICICI Bank and SBI, respectively. He is bullish on the mid-cap and small-cap space and one could fetch 30-40% return in the near term.  Pashupathi Advani, Advani OTC Dealers believes September would be an interesting month and sees the Nifty hitting the 5,000-mark. However, he does fear that rainfall would play havoc with the market sentiment.  However, Ashwani Gujral, Technical Analyst does not share the optimism and says that the breakout may not last. He feels that Sensex to cross 21K?  Nishid Shah, President and CIO, IDFC Investment Advisors says the current rally is liquidity driven but sees the likelihood of the markets seeing new highs in 2010, given better corporate earnings. “My sense is that as market gets comfort on the next year’s number then that will be the time when we will see the market probably crossing 21,000.” Shah added that insurance companies were sitting on huge amounts of cash to the tune of USD 15-17 billion, which, he said will be invested by March 2010. “Whenever the domestics have turned bullish and been buying the equities, they have bought midcaps. So, I think that is the space where we are going to see massive action over the next six-nine months.” |
Friday, August 28, 2009
The Nifty gained strength in the last one hour of trade and closed at new 2009 highs
| The Nifty gained strength in the last one hour of trade and closed at new 2009 highs of 4732.35 on the back of buying in shares of telecom, realty, oil & gas exploration, banking, private power and select metal companies. It crossed the earlier high of 4,731. Equity benchmarks started the day on a mildly positive note and witnessed volatility throughout the day, as a continuation of Thursday's consolidation. But in the last one hour of trade, it gained good strength. Both indices closed higher for the seventh consecutive session. Nearly 1-1.3% gains in European markets were also supportive. The 30-share BSE Sensex shut shop at 15,922.34, up 141.27 points or 0.9%, after seeing an intraday high of 15,957.67 and low of 15,663.35. The 50-share NSE Nifty rose 0.94% or 44.15 points, to settle at 4732.35. It touched a day's high/low of 4743.75 and 4651.40, respectively. This story will be updated soon. Please check it in a while... Continued on next page ... _PAGEBREAK_ Nifty hits fresh 2009 highs; realty, banks, metals gain At 14:27 hours IST, the Nifty extended gains and touched new 2009 highs. Its earlier high was at 4,731. Buying in realty, banking, oil & gas exploration, metal and private power companies' shares was helping the indices. The Sensex was moving towards the 16,000 mark. Positive European cues were also supportive to the indices. Among the largecaps, Bharti Airtel and DLF shot up 4.5-5%. SAIL, SBI, ICICI Bank, Cairn India, Sterlite, Idea and Reliance Infrastructure were up over 2% each. However, continued selling in NTPC, ITC, TCS, Infosys, Tata Power, Wipro, HCL Tech, Maruti, Sun Pharma and Ranbaxy Labs capped the gains. The Nifty was up 50 points, to 4,739 and the Sensex rose 162 points, to 15,942. The broader indices were up 0.7-0.9%; about 1573 shares advanced while 1278 shares declined on the BSE. Nearly 334 shares were unchanged. Top percentage gainers - Dalmia Cement, Compuage Info, GM Breweries and Bhagyanagar Industries were up 20% each. Trent (W), ILandFS and Madhucon Projects gained 13-19%. Top percentage losers - Bhuwalka Steel, Aries Agro, Jyothy Labs, Panasonic Carbon, Bhartiya International, Vardhman Holdings, Suven Life Sciences and Tamil Newsprint fell 6-8%. Nifty consolidates; TCS, Infy, NTPC, ITC, Wipro, HDFC slip At 1:45 hours IST - the Sensex was consolidating at current levels for the second consecutive day. Equity benchmarks were hovering around their previous closing values. The broader indices were also quiet in trade. Realty stocks were seeing buying interest while technology was under pressure. There was a mixed trend in other sectors. TCS, Infosys, NTPC, ITC, BHEL, Wipro, HDFC, Tata Power and HDFC Bank were negative contributors on the Nifty while Bharti Airtel, DLF, SAIL, SBI, ICICI Bank, Hindalco, Unitech, Reliance Infrastructure and PNB were leading counters. The Sensex was down just 4.5 points at 15,776 and the Nifty was flat at 4,687. They were not reacting to the positive European cues, which were up 0.6-1%. The broader indices were up just 0.3% each. In the midcap space, 7.5-10% while TV18, Redington, Deccan Chronicle, Koutons Retail and India Infoline fell 3-3.8%. In the smallcap space, Dalmia Cement locked at 20% upper circuit. Bhagyanagar Industries, Madhucon Projects, ILandFS and Dhanalakshmi Bank were up 12-15%. However, Suven Life Sciences, Jyothy Labs, Tamil Newsprint, Shrenuj & Company and JMD Telefilms lost 5-7%. KEC International jumped 8.85% as it bagged orders worth Rs 780 crore. The company told CNBC-TV18 that its order book would cross Rs 5,500 crore and expected to maintain margins at 10%. CESC shot up 7.32%. The company said it acquired just over 50% stake in DIPL and would increase stake to 100% gradually. UCO Bank was up 4% and volumes surged 290% to 1,029,536 shares, compared to its 5-day average of 263,337 shares. The company is planning to raise Rs 650 crore via FPO (follow on public offer). On the next page - see how Indian markets performed in the last couple of hours _PAGEBREAK_ Sensex choppy; Bharti Airtel, DLF, Hindalco top gainers At 12.48 pm today, the Sensex was trading with some volatility. Selling pressure was seen in IT, FMCG and pharma stocks. However, realty, capital goods, banking stocks were witnessing buying interest. Reliance, Infosys, HDFC, ITC and HDFC Bank were the negative contributors to the Sensex. The Sensex was down 31.08 points or 0.20% at 15749.99, and the Nifty was down 19.20 points or 0.41% at 4669. The markets breadth was positive, about 1497 shares advanced, 1339 shares declined, and 348 shares were unchanged. The risks for the stock market are building up and the markets are still being in an optimistic mode, so one could see a correction ahead, believes Devina Mehra of First Global. “That’s the market’s way of tricking you.” Top gainers on the Sensex were Bharti Airtel at Rs 429 up 3%, DLF at Rs 402.40 up 2.56%, Hindalco at Rs 107.65 up 1.56%, Reliance Infra at Rs 1,153.90 up 1.20% and Jaiprakash Asso at Rs 221.85 up 1.19%. Top losers on the Sensex were TCS at Rs 533.10 down 2.11%, ITC at Rs 235.15 down 1.94%, Tata Power at Rs 1,331 down 1.92%, Infosys at Rs 2,148 down 1.91% and NTPC at Rs 208 down 1.72%. Top gainers on the BSE Midcap - Thomas Cook, KEC Int, OnMobile Global, CESC and Thermax were up 6-11%. Top gainers on the BSE Smallcap - Dalmia Cement, Bhagyanagar Ind, Madhucon Projec, Indo Rama Synth and ILandFS were up 10-20%. On the next page - see how Indian markets performed in the last couple of hours _PAGEBREAK_ Nifty rangebound; broader indices outperform At 11:53 hours IST, the Nifty was rangebound at 4680-4713 and the Sensex was moving in a band of 15,770-15,820. The broader indices continued to outperform the benchmark indices; up nearly 1% each.Selling in technology stocks along with NTPC, BHEL, ITC, Tata Power, Axis Bank, Sun Pharma, Tata Steel, Grasim and Tata Communciation capped the gains. However, Bharti Airtel extended gains and was up 3.4%. SBI, ICICI Bank, PNB, L&T, Siemens, Suzlon Energy, Reliance Infrastructure, Reliance Power, DLF and Unitech were witnessing buying interest. Cairn India, Reliance Industries, Tata Motors, SAIL, ACC, HUL and Sterlite were the other gainers. The Sensex was up 6 points, to 15,786 and the Nifty was flat at 4,687. About 1655 shares advanced while 1143 shares declined on the BSE. Nearly 386 shares were unchanged. Top percentage gainers - Dalmia Cement and GM Breweries locked at 20% upper circuit. Trent (W), Bhagyanagar Industries, Compuage Info, Indo Rama Synthetics and ILandFS were up 13-19%. Top percentage losers - Shri Baj Alloys, Aries Agro, Morganite India, Panasonic Carbon, Tamil Newsprint, Suven Life Sciences, Bhartiya International and Action Construction fell 5-9.5%. Tata Steel, Mahindra Satyam, Unitech, Aban Offshore, DLF and Bharti Airtel were most active shares on the exchanges. On the next page - see how Indian markets performed in the last couple of hours _PAGEBREAK_ Sensex volatile; tech, Tata pack slip, realty, banks gain At 10:38 hours IST, the Nifty was trading with marginal gains and was hovering around important level of 4700. However, the markets were extremely volatile in trade. Bharti Airtel continued to trade higher with over 2% gain on the back of likely deal with South Africa's MTN. It was up nearly 3% yesterday.Shares of oil & gas exploration were also witnessing buying interest, as crude went up 1.5% and was trading above USD 72.5 a barrel on the Nymex. DLF, Unitech, SBI, L&T, SAIL, ICICI Bank, HUL, Siemens, HDFC, Sterlite, Maruti, Cipla, Hero Honda, Idea, Reliance Infrastructure and Reliance Power were the other gainers. However, sellling was seen in technology stocks. NTPC, BHEL, ITC, Tata Power, Tata Steel, Tata Motors, Sun Pharma, Axis Bank and Nalco were the other losers. The Sensex rose 42 points, to 15,823 and the Nifty up 9 points, to 4,697. The broader indices were outperforming the benchmark indices; up 1% each. About 815 shares advanced while 345 shares declined on the NSE. In the midcap space, OnMobile Global, Thermax, CESC, JM Financial and P & G gained 5-9% while HOEC, Deccan Chronicle, GMDC, STC India and Motherson Sumi fell 2-4%. In the midcap space, Bhagyanagar Industries, Dalmia Cement, Dhanalakshmi Bank, Amtek India and Jagatjit Industries were up 8-13%. However, Tamil Newsprint, Suven Life Sciences, JMD Telefilms, Ruch Infra and Timken were down 4.5-7%. Nifty trades above 4700 amid volatility; capital goods up The Sensex started the first day of September series on a positive note on the back of buying in capital goods, pharma and power stocks. It was trading above the 15800 mark and the Nifty was above the 4700 level. Positive US cues were also supportive to the markets. At 9:56 am, the Sensex rose 89 points, to 15,867 and the Nifty up 25 points, to 4,713 25. The CNX Midcap gained 70 points at 6,133. Among the frontliners, Cairn India (crude up 1.5%), SAIL, Bharti Airtel, Cipla, Siemens, ICICI Bank, L&T (above Rs 1600 a share), Wipro, M&M, Reliance Power, Grasim, Ranbaxy, Suzlon Energy, Idea Cellular and Idea Cellular were the gainers. However, Tata Steel fell another 2% on disappointing set of numbers for Q1FY10. It had lost 5% yesterday. Sun Pharma, GAIL, Infosys and Nalco were also in the red. Midcap space Amtek India and Maytas Infra were up 5% each. Birla Power, Fame India, Lanco Infratech, Uco Bank and IDBI Bank were up 2-4%. Aban Offshore rose another 1.7%. Bajaj Hindusthan and Balrampur Chini went up 2% each. Bombay Rayon and Datamatics went up 3% each. Ansal Properties was up 2% ahead of board meeting. Noida Toll rose 2%. Global cues: Asian markets were trading mixed. Shanghai lost 2.5% and Hang Seng down 0.5%. Straits Times fell 0.22%. However, Jakarta, Nikkei and Kospi gained 0.2-0.4%. Taiwan Weighted was up 1.6%. The US markets recovered from the day's low to end at day's high on the back of positive economic data. Commodities rebounded on weakness in dollar and crude was back above $72/bbl. The Dow Jones Industrial Average was up 37 points or 0.4% at 9,580; the Nasdaq Composite rose 3.3 points or 0.16% to 2,028 and the S&P 500 Index was up 2.8 points or 0.28% at 1,031. Commodities: The Reuters CRB (Commodity Research Bureau) gained 0.13% to 256.52. Crude gained 1.5% to close at $ 72.49. Copper was up 2.2% to $6400/tonne and Nickel up 2.4% to 19200/tonne. Zinc and Aluminium were up 1.5%; Lead was up 2% today and was up 14% this week. Market cues: FIIs net buy USD 212 million in cash on August 26 NSE September series begins with Rs 62,553 crore Open Int NSE August series had begun with Rs 56,635 crore Open Int Value terms higher because Nifty rallied 2.6% this series FIIs net sell Rs 42 crore in cash on August 27 (prov) DIIs net buy Rs 29 crore in cash on August 27 (prov) FIIs net sell Rs 515 crore in F&O on August 27 F&O cues: Nifty up 0.2% Nifty September Futures trading at 10-pt premium Nifty Open Int PCR starts at 1.18 Nifty Puts add 36.6 lakh shares Nifty Calls shed 22.8 lakh shares Nifty IVs at 31-36% levels Nifty Sep 4600 Put adds 9.1 lakh shares in Open Int Nifty Sep 4900 Call adds 5.4 lakh shares in Open Int Nifty Sept 4500 Put adds 5.3 lakh shares in Open Int Nifty Sep 4700 Put adds 5 lakh shares in Open Int |
Thursday, August 27, 2009
nifty lavels
Nifty Spot important levels for tomorrow, 28th August:
R3 - 4778, R2 - 4743, R1 - 4716, Pivot Point - 4680, S1 - 4653, S2 - 4618, S3 - 4590.
R3 - 4778, R2 - 4743, R1 - 4716, Pivot Point - 4680, S1 - 4653, S2 - 4618, S3 - 4590.
Nifty ends flat on expiry; exim policy boosts gems, textile
he Nifty closed the last day of August series on a flat note after seeing huge volatility throughout the session. It crossed the 4700 mark during the day but closed well below that level. It was the sixth consecutive day of positive closing for the markets.
Capital goods, pharma, and select technology stocks were supportive while private banking and power counters were draggers. There was a mixed trend in realty, FMCG, telecom and auto stocks.
The equity benchmarks started on a weak note following weak Asian cues but did not extend the losses. They remained rangebound for the whole day and did not show any significant move on either side. Among the Asian markets, Nikkei lost 1.5%; Shanghai, Jakarta, Hang Seng, Kospi and Taiwan Weighted fell 0.4-1% while Straits Times was up 0.5%. European markets and the US index futures were flat in trade at the time of closing of Indian equities.
The 30-share BSE Sensex closed at 15,781.07, up 11.22 points, after seeing an intraday high of 15,853.71 and low of 15,685.49. The 50-share NSE Nifty went up just 7.35 points, to settle at 4,688.20. It touched a day's high/low of 4707.90 and 4645.15, respectively. Both indices ended 2.55% higher in the August series.
Commerce Minister unveiled the Foreign Trade Policy today. There was not any big announcement in the policy barring small benefits for textile and diamond industries. He said the policy would continue with DEPB (Duty Entitlement Pass Book) scheme for exporters and continue with section 10A benefit for IT sector exports. (Also Read - Exporters hail 'aggressive, long-term' trade policy)
He has also introduced new measures like the zero-duty Export Promotion Capital Goods (EPCG) scheme. The special thrust would be given to employment oriented export units and was aiming $200 billion export by March 2011, he said.
Diamond and jewellery related stocks like Renaissance Jewellery and Shrenuj and Company shot up 10% and 20%, respectively. Gitanjali Gems, Goldiam International, Rajesh Exports, Su-raj Diamonds and Vaibhav Gems were up 5-8.5%. Titan Industries was up 3%. Textile stocks like Arrow Textiles surged 19%. Bombay Dyeing, Welspun India and Alok Industries gained 3.5-7%.
Nitin Raheja, CIO at Rada Advisors said the underlying strength in the market was quite strong. "I won’t be surprised that we enter the next series breaking that critical 4,700 mark in the near-term", he said.
Continued on the next page... _PAGEBREAK_
India's largest steel maker, Tata Steel has announced Q1FY10 consolidated numbers, which were quite disappointing; the stock lost over 5%. The company's net sales has come down 47%, to Rs 23,180 crore and it reported a consolidated net loss of Rs 2,200 crore for the quarter.
Capital goods, pharma, and select technology stocks were supportive while private banking and power counters were draggers. There was a mixed trend in realty, FMCG, telecom and auto stocks.
Volumes were quite high as it was a expiry day; total traded turnover stood at Rs 1,19,172.38 crore as against Rs 1,04,447.93 crore on Wednesday. This included Rs 20,781.78 crore from the NSE cash segment, Rs 91,809.58 crore from the NSE F&O and the balance Rs 6,581.02 crore from the BSE cash segment.
Index | Closing Value | Chg (%) |
| CAP GOODS | 13,179.90 | 1.16 |
| PHARMA | 3,940.43 | 1.13 |
| TECk | 3,091.98 | 0.62 |
| SMALLCAP | 6,907.06 | 0.42 |
| MIDCAP | 5,822.50 | 0.38 |
| IT | 4,286.01 | 0.32 |
| POWER | 2,986.24 | 0.28 |
| AUTO | 5,743.59 | 0.25 |
| OIL&GAS | 9,837.61 | 0.12 |
| FMCG | 2,597.58 | 0.01 |
| REALTY | 4,132.19 | -0.26 |
| BANKEX | 8,310.62 | -0.57 |
| METAL | 12,566.52 | -0.88 |
Pharma stocks like Piramal Health, Cipla, Dishman Pharma, Apollo Hospital, Ipca Labs, Wockhardt, Ranbaxy Labs and Glenmark gained 0.7-4.6%.
In the technology space, HCL Tech and Wipro went up 2-3.5%. Infosys was up 0.39% while TCS fell 0.67%. Telecom stocks like Bharti Airtel shot up 2.74%, as DowJoneswire sources told CNBC-TV18 that Bharti offered MTN group $13.1 billion for 49% stake. However, Reliance Communication and Tata Teleservices fell 1-1.5%.
In the realty space, Parsvnath, Ackruti City, Sobha Developer, Unitech and Omaxe gained 2-4% while Indiabulls Real and DLF declined 1.7-3%.
Auto stocks like Bharat Forge, Ashok Leyland, M&M, Apollo Tyres, Bajaj Auto and Maruti Suzuki were up 0.6-4% while Tata Motors and Hero Honda fell 1.8-2.55%.
In the FMCG pack, United Spirits surged 6%. ITC was up 0.63%. However, Dabur India, HUL, Marico, United Breweries, Colgate and Tata Tea were down 1-2.5%.
Banking stocks like SBI gained 0.61% while ICICI Bank, PNB, Axis Bank and Bank of Baroda slipped 1-1.4%.
In the metal space, NALCO, Sterlite Industries and Jindal Steel went up 0.9-2.8% while Hindustan Zinc, Sesa Goa, JSW Steel, Jindal Saw and Hindalco fell 1-2.6%.
The broader indices closed 0.4% higher. The market breadth was positive for the whole day; about 1,686 shares advanced while 1,179 shares declined on the BSE. Nearly 318 shares remained unchanged.
In the midcap space, GMDC, Videocon Industries, Info Edge, Anant Raj Industries and GSK Consumer were up 7-15.5% while Patni Computer, Nava Bharat Ventures, Shriram Transport, Torrent Pharma and Motherson Sumi declined 4.5-5%.
In the smallcap space, Zuari Industries, Hatsun Agro, Shoppers Stop and Radico Khaitan gained 10.5-13%. However, Oscar Investment, Agro Tech Foods, Allied Digital, Ruby Mills and Pennar Inds were down 6-8.6%.
Markets in August Series
Sensex and Nifty surged 2.55% in the August series. Among the broader indices, Midcap Index was up 3.2% and Small Cap Index up 11.4%.
On the sectoral front, the BSE Realty Index went up 4.5% and Oil & Gas Index up 6.7%.
Among the largecaps, Tata Motors surged 26%. HCL Tech and Ranbaxy shot up 23% each. Nalco, Wipro and Hindalco were up 14% each. Cairn rose 10%.
On the next page - see how Indian markets performed in the last one hour _PAGEBREAK_
Sensex lacklustre; ICICI Bank, HUL, DLF, RComm, HDFC slip
At 14:38 hours IST, the Sensex continued to witness volatility. Buying in heavyweights like Bharti, ONGC, NTPC, SBI, L&T, Wipro and ITC was helping the indices to stay on the higher side. Nalco, Cipla, Tata Power, HCL Tech, Sun Pharma, M&M, Siemens, Ranbaxy and Ambuja Cements were the other gainers. Reliance Industries was volatile in trade.
However, relentless selling in ICICI Bank, Reliance Communication, HUL, HDFC, DLF, Tata Motors, Hero Honda, Tata Steel, HDFC Bank, TCS, SAIL, Suzlon, Axis Bank and Reliance Power capped the gains.
The Nifty fell 5 points, to 4,676 and the Sensex lost 25 points, to 15,744. About 774 shares advanced while 484 shares declined on the NSE.
Aban Offshore, Hindustan Oil Exploration, Mahindra Satyam, United Spirits, Reliance Capital, Unitech, Tata Steel and Reliance Industries were most active shares on the bourses.
In the midcap space, GMDC, Info Edge, Sintex India, Videocon Industries and Bombay Rayon gained 5.5-8% while Torrent Pharma, Shriram Transport, Rolta, Nava Bharat Ventures and UTV Software fell 4-7%.
In the smallcap space, Shrenuj and Company, ESS DEE, Hatsun Agro, Shoppers Stop and Zuari Industries went up 10-15.5%. However, Pennar Industries, Geojit BNP, Ruby Mills, ABG Infralogistics and Oscar Investment lost 5-6.5%.
Nifty hovers around 4700; Bharti, RIL, Wipro lead
At 13.37 hrs IST, the Nifty was hovering around the 4700 mark with gains of around 20 points. Bharti Airtel, Reliance, Wipro, ONGC, NTPC, Infosys, L&T and ITC were the positive contributor to the bourses. Buying interest was seen in pharma, capital goods, oil & gas, power and IT stocks while realty, banks and metal stocks witnessed selling pressure.
The Sensex was up 54.63 points or 0.35% at 15824.48, and the Nifty was up 20 points or 0.43% at 4700.85.
About 1858 shares advanced, 989 shares declined, and 336 shares were unchanged.
Ambareesh Baliga of Karvy Stock Broking said he was conservative on IT stocks and that one could hold those to sell in case of a further upmove. He was negative on commodities — metals and sugar.
Top gainers on the Sensex were Bharti Airtel at Rs 420.55 up 3.74%, Wipro at Rs 568.05 up 1.94%, Tata Power at Rs 1,358.10 up 1.78%, L&T at Rs 1,595 up 1.25% and NTPC at Rs 212.50 up 1.12%.
The BSE midcap and smallcap indices were up 0.95% and 1.39% respectively.
Top gainers on the BSE Midcap - Info Edge, Guj Mineral, Videocon Indust, Bombay Rayon and Sintex India
Top gainers on the BSE Smallcap - Shrenuj and Co, Shoppers Stop, ESS DEE, Zuari Inds and Atoll were up 10-17%.
However, top losers on the Sensex were Tata Motors at Rs 491.70 down 1.39%, HUL at Rs 259.45 down 1.26%, HDFC at Rs 2,487.05 down 1.01%, Tata Steel at Rs 455.40 down 1.01% and ICICI Bank at Rs 753.45 down 1.01%.
Index heavyweight Hindustan Lever was trading at Rs 259.45 down 1.26% from its previous close of Rs 262.75.
Nifty touches 4700; Bharti, Wipro, RIL, ONGC, SBI supportAt 12:40 hours IST, Nifty touched the 4700 mark on the back of support from Bharti Airtel, Wipro, ONGC, Reliance Industries, SBI, L&T and Infosys. DowJoneswire sources told CNBC-TV18 that Bharti offered MTN group $13.1 billion for 49% stake, due to which Bharti shot up 3%.
The Sensex was up 60 points, to 15,830 and the Nifty up 21 points, to 4,702. Positive European cues were also supportive to our markets.
NTPC, Cipla, Tata Power, BHEL, Power Grid, Sun Pharma, Ambuja Cements, ACC, Sterlite, SAIL, M&M, Ranbaxy and PNB were other gainers.
However, selling continued in ICICI Bank, HUL, HDFC, HDFC Bank, DLF, Reliance Communication, Tata Steel, Tata Motors, Hero Honda and Suzlon Energy.
Among the broader indices, the BSE Midcap Index rose 0.9% and Smallcap Index up 1.5%. About 1,886 shares advanced while 969 shares declined on the BSE. Nearly 328 shares were unchanged.
Top percentage gainers - Omnitech Info, R Systems International, Shrenuj and Company, IVP, Radico Khaitan and Zuari Industries were up 13-17%.
Top percentage losers - Shri Baj Alloys, TCPL Packaging, Invest and Precision, IFGL Refractory, Hydro SandS, Lotus Eye Care, WS Industries, HOEC and Action Construction lost 5-9%.
Mcnally Bharat Engineering locked at 5% upper circuit as it bagged orders worth Rs 179 crore.
Nagarjuna Construction has bagged three orders worth Rs 311 crore. The stock was up 1.3%.
Sensex quiet; Bharti, Wipro, SBI lead, ITC, ICICI Bank dip
At 12.00 pm, the Sensex was quiet in trade. Both the equity benchmarks were trading near their previous closing values. The Nifty was trying to move towards the 4700 mark but selling at higher levels was putting pressure.
However, the broader indices were on the higher side, as the breadth was positive with about 846 shares advanced while 385 shares declined on the NSE.
Leading counters were Bharti Airtel, Wipro, SBI, Infosys, L&T, TCS, HCL Tech, Cipla, Sun Pharma, Tata Power, Ambuja Cements, Nalco, M&M, Siemens and ACC.
However, negative contributors were FMCG and realty stocks; ICICI Bank, HDFC, Reliance Communication, Tata Steel, Tata Motors, Hero Honda, HDFC Bank, Reliance Infrastructure, Suzlon and Hindalco.
The Sensex rose 22 points, to 15,791 and the Nifty gained 9.5 points at 4,690. Among the broader indices, the BSE Midcap Index was up 0.5% and the Smallcap Index up 1.3%.
Commerce Minister, Anand Sharma announced foreign trade policy today. He said the policy would continue with DEPB (Duty Entitlement Pass Book) scheme for exporters and continue with section 10A benefit for IT sector exports. He announced zero duty EPCG (Export Promotion Capital Goods) scheme for exporters. The special thrust would be given to employment oriented export units and was aiming $200 billion export by March 2011, he said.
Export related stocks like Arrow Textile shot up 20%; S Kumars Nationwide, Gitanjali Gems, Bombay Dyeing, Welspun India, Vaibhav Gems, Titan Industries, Renaissance Jewellery and Alok Industries were up 3-5%.
Nifty consolidates; RIL, ICICI Bank, ITC, HUL, DLF dip
At 10:35 hours IST, the Nifty was witnessing volatility. Reliance Industries, ITC, ICICI Bank, L&T, HDFC, DLF, HUL , HDFC Bank, Reliance Communication, Tata Steel, Hero Honda, Tata Motors, Reliance Infrastructure, Unitech and Hindalco were witnessing selling pressure.
However, buying continued in Bharti Airtel, Wipro, TCS, Infosys, BHEL, SAIL, Cipla, Sun Pharma, Ambuja Cements, ACC and Maruti Suzuki.
The Sensex was down 15 points, to 15,754 and the Nifty fell 5 points, to 4,675. However, about 838 shares advanced while 212 shares declined on the NSE. Among the broader indices, the BSE Midcap Index rose 0.6% and the Smallcap Index up 1.4%.
In the midcap space, GMDC, IRB Infra, Ackruti City, Videocon Industries and HOEC were up 5-8% while Phoenix Mills, Indiabulls Real, Shriram Transport, HCL Info and Puravankara Projects lost 2.5-5%.
In the smallcap space, Rajesh Exports, Banco Products, Radico Khaitan, Jyothy Labs and Dalmia Cement gained 7.5-11.6% while
Geojit BNP, JMD Telefilms, Action Construction, Indraprastha and Indo Rama Synthetic fell 3-5%.
Media stocks - HT Media, Jagran Prakashan, TV18, NDTV, UTV Software, Deccan Chronicle, Sun TV Network and Zee News were up 1-3%. Zee Entertainment and IBN18 Broadcast went up just 0.5-0.8%.
Sensex volatile with negative bias; Bharti, Wipro, TCS up
The Sensex started the settlement day on a weak note following negative Asian cues. Consolidation continued in today's trade as well. Fall in base metals also impacted the steel stocks in the early trade.
At 9:58 am, the Nifty was down 16 poitns, to 4,664 and the Sensex fell 52 points, to 15,717. The broader indices were flat in trade. About 504 shares advanced while 244 shares declined on the NSE.
Among the frontliners, Tata Steel (ahead of Q1FY10 consolidated numbers), Ranbaxy Labs, Tata Motors, Hindalco, Unitech, ICICI Bank, PNB, Reliance Industries, ITC, Hero Honda, L&T, Siemens and Nalco lost ground.
However, Wipro and TCS were up over 1% post receiving British Petroleum order. Bharti Airtel, Cipla, Cairn India, Ambuja Cements and ACC were the other gainers.
Midcap space
Textile stocks like Alok Industries and Arvind continued their rally, up 3% each.
KPIT Cummins was up 5% in the technology space. Suven Life Sciences was up another 6% after seeing upper circuits for last three days.
Marksans Pharma and Shasun Chemical went up 5% each. JM Financial up 5% post block deal.
However, Indiabulls Real lost 5%. HDIL and Ansal Properties were down 1% each.
Global cues:
Asian markets were trading weak. Nikkei fell 2.2%. Hang Seng, Jakarta and Kospi were up over 1%. Shanghai, Straits Times and Taiwan Weighted lost 0.3-0.4%.
The US markets ended flat despite strong new home sales and durable goods orders. Commodities traded weak post China's comment.
The Dow Jones Industrial Average was up only 4.23 points or 0.04% at 9,543.52, but it was enough to extend the Dow's winning streak to seven straight sessions.
The S&P 500 Index ended at 1,028.12, up 0.12 points or 0.01% and the Nasdaq Composite gained 0.20 points or 0.01% at 2,024.43.
Commodities
The Reuters CRB (Commodity Research Bureau) declined 0.8%.
Crude declined 0.9% at $71.43/bbl.
US inventories increased. Markets were estimating a decline.
Base metals declined; Aluminium down 2%, Nickel down 1.5% and Tin down 4%.
Lead made 1-year high at $2129, settled at $2050/tonne
Market cues:
-FIIs net sell USD 11 million in cash on August 25
-MFs net buy Rs 423 crore in cash on August 25
-Total F&O Open Int up by Rs 1578 crore at Rs 93,960 crore
-FIIs net buy Rs 379 crore in cash on August 26 (prov)
-DIIs net buy Rs 129 crore in cash on August 26 (prov)
-FIIs net buy Rs 435 crore in F&O on August 26
F&O cues:
-Total Futures Open Int up by Rs 1350 crore
-Total Options Open Int up by Rs 228 crore
-Nifty up 0.5%, Futures Open Int up 3%
-Nifty September Fut trading at 9-pt prem versus 10-pt prem
-Stock Futures add 2.3 crore shares in Open Int
-Nifty Open Int Put Call Ratio up from 1.25 to 1.31
-Nifty Puts add 11.5 lakh shares
-Nifty Calls shed 9.7 lakh shares
-Nifty implied volatility at 32-36% levels
-Nifty Sept 4700 Put adds 3.5 lakh shares in Open Int
-Nifty Sept 4600 adds 3.2 lakh shares in Open Int
-Nifty Sept 4400 Put adds 2.8 lakh shares in Open Int
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