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SELL BELOW 4943 SL 5053 TARGET4909,4875, 4833
Friday, May 28, 2010
Nifty ends strong for 3rd consecutive day, surges 259 pts
The benchmark Nifty closed strong for the third consecutive day on the back of short covering and positive global cues. The index rallied 259 points in three days and closed above the 5050 level while for the week it gained just 134 points. The most beaten down sectors like metal and realty gained 3.5-4% today.
European markets were trading 0.4-0.8% higher and the US index futures gained just 0.2% each, at the time of closing of Indian equities. Asian markets ended 0.7-1.7% higher barring Shanghai, which was flat. The US markets rallied 3-3.7% on Thursday after a denial by China about possible reviews of European debt holdings.
Keshav Sanghi, MD and Head of Equities of Citigroup was positive on India while he looked cautious about Europe. He explains that markets are far from clarity on the EU and there is anxiety amongst investors. Money is flowing out of Europe into the emerging markets. He says that India is expected to see USD 50-75 bn fund flow in five years.
He adds that macro data indicates appreciation for Indian markets as it seems relatively safer. Confidence in the Indian markets is likely to be higher in six months. India is going to benefit from the slide in oil and commodity prices, he adds further.
The time to go short on India is over, says an optimistic Arvind Sanger of Geosphere Capital. “At this point, India along with other global emerging markets looks like it’s poised to rebound from recent sell-off provided there's no other negative news coming out of Europe.”
The 30-share BSE Sensex closed at 16,863.06, up 196.66 points or 1.18% and the 50-share NSE Nifty rose 63.45 points or 1.27% to settle at 5,066.55. The BSE Midcap Index was up 1.65% and the Smallcap was up 1.4%.
Sterlite Industries and Jindal Steel from metal pack shot up 5-5.9%. SAIL rose 3.5%. Tata Steel and Hindalco gained 0.9-1.7%.
Reliance Industries and Cairn India from oil & gas space rose over 1.4%. ONGC was up just 0.8% ahead of its results. However, BPCL and GAIL declined 0.85-1.6%.
_PAGEBREAK_
Technology stocks also saw buying interest. Infosys, TCS, Wipro and HCL Tech went up 1-1.9%.
DLF and Unitech from realty segment surged 3.5% and 2.9%, respectively. Reliance Communications was the top gainer on the Nifty, surged 5.89%. Idea Cellular from telecom pack rose 1.5% while Bharti was flat.
ITC from FMCG space moved up 2.65% and HUL was up 1.44%.
SBI, ICICI Bank and HDFC from financial pack went up 0.9% each. Axis Bank gained 0.8% while HDFC Bank, PNB and IDFC were flat.
In the power pack, Suzlon Energy rallied 5%. NTPC, Power Grid, Reliance Power and Tata Power were up 1-2%.
Tata Motors and Hero Honda from auto space gained 1% each. M&M moved up 3.3% while Maruti slipped 1%.
Ranbaxy from healthcare segment surged 3% and Cipla rose 1% while Sun Pharma fell 0.2%.
BHEL, ABB and Siemens from capital goods space went up 0.75-1.8% while L&T was in the red.
Advances outnumbered declines; about 1989 shares advanced while 949 shares declined on the BSE. Nearly 360 shares remained unchanged.
Top percentage gainers - Oudh Sugar Mills, Store One, DCM, Saksoft and De Nora India rallied 19-20%.
In the midcap space, Parsvnath, Shree Renuka, Fresenius Kabi (post results), Pipavav Shipyard and Apollo Tyres gained 7-11% while Hindustan National Glass, Shree Global, Rajesh Exports, Info Edge and GSFC fell 2.8-5.8%.
In the smallcap space, Sakthi Sugars, Andhra Cement, Gallantt Metal, Henkel India and Dhampur Sugar went up 9-15% while Goodyear, Indo Rama Synth, Kanani Industries, Bilcare and Sundaram-Clayton lost 4-9%.
The markets reported total turnover of Rs 85,518.63 crore. This included Rs 12,963.28 crore from the NSE cash segment, Rs 68,591.35 crore from the NSE F&O and the balance Rs 3,964 crore from the BSE cash segment.
_PAGEBREAK_Sensex rallies 200 pts; metals, realty surge
At 14:37 hours IST, the benchmark indices strengthened again after some consolidation with positive bias. Metal and realty rallied 4% each. Among the others, FMCG, Auto and Power indices gained 1-1.8%. European markets also moved up further and gained 0.4-0.6% after flat trade since opening.
Heavyweights like Reliance Industries, ONGC, NTPC, SBI, TCS, ICICI Bank and BHEL were quite supportive today, gained 1-1.5%.
The Sensex was trading at 16867, up 200 points and the Nifty was at 5067, up 64 points. However, the Nifty June future was trading with 20 points discount.
The broader indices continued to outperform the benchmark indices; the BSE Midcap Index was up 1.6% and the Smallcap was up 1.5%.
The market breadth was positive; about 2005 shares advanced while 903 shares declined on the BSE. Nearly 390 shares were unchanged.
Top gainers - Sterlite Industries was trading at Rs 685.10, up 6.37%; Suzlon Energy was at Rs 61.15, up 5.25%; Jindal Steel was at Rs 653.85, up 5.08%; SAIL was at Rs 206.45, up 3.82%; DLF was at Rs 280.50, up 3.70%; M&M was at Rs 546.55, up 3.38% and Reliance Communications was at Rs 143.60, up 3.16%.
Top percentage gainers - DCM and Saksoft were locked at 20% upper circuit. DandH Welding, Gujarat Capital Venture, Andhra Cement, Store One, Accel Frontline and Oudh Sugar Mills were up 16-19.7%.
In the midcap space, Parsvnath, Shree Renuka, Pipavav, Pantaloon Retail and Indian Hotels went up 6-9% while Hindustan National Glass, Rajesh Exports, GSFC, Info Edge and Fortis Health lost 3-5%.
In the smallcap space, Sakthi Sugars, Gallantt Metal, Sudarshan Chemical and Ahmednagar Forging rallied 8-12%. However, Goodyear, aurionPro Solution, Indo Rama Synth, Shristi Infra and Subhkam Capital fell 5-9%.
Nifty firm; Amtek India, Sesa Goa, Tata Steel most active
At 13.10 hrs IST, the Nifty was hovering around 5050 mark with positive bias. It was trading in a narrow band of 5020-5050 for last couple of hours. European markets opened on a flat note.
Buying was seen in metal, realty, consumer durables, FMCG and auto stocks. All BSE sectoral indices were trading in green. BSE Midcap and Smallcap index were up more than 1% each.
The Sensex was up 115.22 points or 0.69% at 16781.62, and the Nifty up 33.15 points or 0.66% at 5036.25. About 1968 shares advanced, 922 shares declined, and 407 shares were unchanged.
Amtek India, Sesa Goa, Tata Steel, Tata Motors, SBI, Reliance Industries and ICICI Bank were the most active shares on bourses.
Amtek Auto bought majority stake in Amtek India; both stocks gained over 4%.
In the largecap space, Jindal Steel, Sterlite Industries, Suzlon Energy, SAIL and Mahindra and Mahindra were up 2-4%. On the losing side, BPCL, Maruti Suzuki, IDFC, Reliance Infra and GAIL were down 0.6-1.4%.
Index heavyweight Reliance was trading at Rs 1,027.10 up 0.51% from its previous close of Rs 1,021.85. Tech major Infosys was trading at Rs 2,654.10 up 0.4% from its previous close of Rs 2,643.45. Refinery major HPCL was trading at Rs 357.15 up 1.64% from its previous close of Rs 351.40
Cigarette major ITC was trading at Rs 279.05 up 1.42% from its previous close of Rs 275.15. Hindustan Lever was trading at Rs 233.35 up 0.26% from its previous close of Rs 232.75.
Top gainers on the BSE Midcap: Pipavav Shipyard, Pantaloon Retail, Shree Renuka, IBN18 Broadcast and Indian Hotels were up 4.6-9.1%.
Top losers on the BSE Midcap: Hind Nat Glass, Fortis Healthcare, Rajesh Exports, Tata Chemicals and Den Networks were down 2.7-5.1%.
Top gainers on the BSE Smallcap: Sakthi Sugars, Gallantt Metal, Sudarshan Chemicals, Orient Paper and Shoppers Stop were up 8-11%.
Top losers on the BSE Smallcap: GeeCee Ventures, Thiru Arooran, Indo Rama Synthetics, Kanani Industries and Simplex Project were down 4-9%.
Nifty rangebound with positive bias; Sterlite top gainer
At 11:41 hours IST - the 50-share NSE Nifty was trading in positive terrain for third consecutive day following good global cues. However, the indices came off a bit from their highs today due to profit booking at higher levels. It seemed like they were consolidating after sharp rally in last two days.
Asian markets were trading 0.7-1.7% higher while only Shanghai slipped 0.4%.
The 30-share BSE Sensex was trading at 16774, up 108 points and the Nifty was at 5034, up 31 points. However, the Nifty June future was trading with 22 points discount.
The BSE Metal and Realty indices gained 2.6-3%. SAIL, Sterlite Industries, Jindal Steel, Tata Steel and Hindalco from metal segment were up 1.5-4%.
ITC from FMCG space gained 2% and HUL was up 0.6%. ONGC and Cairn India from oil & gas exploration pack rose 1.5% each and Reliance Industries went up 0.6%. RIL has made 5th oil discovery in block CB-ONN-2003/1.
DLF and Unitech from realty segment went up 2% each. Reliance Communications and Idea Cellular from telecom pack moved up 1.2-1.7%; and Bharti Airtel was up just 0.4%.
Suzlon Energy from power space rose nearly 4%. Tata Power, Power Grid and NTPC gained 0.9-1.4%.
ACC from cement pack went up 1.5% and Ambuja Cements up 0.6%.
However, ICICI Bank, Maruti, BPCL, L&T, GAIL, IDFC and Reliance Infrastructure were the only losers.
About 2005 shares advanced while 853 shares declined on the BSE. Nearly 439 shares were unchanged.
Sensex northbound; realty, metals, FMCG gain
At 10:22 hours IST, the benchmark Sensex was still trading with more than 100 points gains, though it wiped out some gains from its early highs. Buying interest was seen in oil & gas exploration, realty, metal, FMCG, cement, telecom and select power companies' shares.
However, TCS, Maruti, BPCL, L&T, GAIL, IDFC and Sun Pharma were under pressure. Other stocks came off their early highs.
Asian markets were quite supportive. Hang Seng was up 1.77%. Nikkei and Taiwan gained over 1%. Shanghai, Jakarta and Kospi went up 0.5-0.7%.
The Sensex was trading 16798, up 132 points and the Nifty was at 5041, up 38 points. The Nifty June future was trading with 22 points discount.
The time to go short on India is over, says an optimistic Arvind Sanger of Geosphere Capital. “At this point, India along with other global emerging markets looks like it’s poised to rebound from recent sell off provided there's no other negative news coming out of Europe.”
Further, commenting on India’s growth prospects, he says that the markets are well positioned and will move higher.
The broader indices were outperforming the benchmark indices; up 1.5% each. About 2127 shares advanced while 712 shares declined on the BSE. Nearly 458 shares were unchanged.
Top gainers - Sterlite Industries was trading at Rs 669.95, up 3.90%; Jindal Steel was at Rs 644.65, up 3.41%; DLF was at Rs 278, up 2.75%; Hindalco was at Rs 152, up 2.43%; Tata Steel was at Rs 503.75, up 2.18%; Suzlon Energy was at Rs 60.40, up 3.96% and Unitech was at Rs 73.70, up 3.15%.
In the midcap space, HCC, Core Projects, Omaxe, Patel Engg and Shree Renuka were up 4.7-5.5% while Hindustan National Glass, Godrej Consumer, Info Edge, REI Six Ten and Fortis Health lost 1.7-3%.
In the smallcap space, Gallantt Metal surged 14.68%. Vinati Organics, Jayaswal Neco, Himadri Chemical and MIC Electronics gained 5-6.5%. However, Fem Care Pharma, Kanani Industries, Indo Rama Synth, Simplex Project and Asian Star declined 3.6-5.7%.
Nifty tests 5050 on global cues; Hindalco top gainer
The benchmark Nifty started the day on a positive note and continued the short covering rally for third consecutive day. The index crossed 5050 level as well today. Positive global cues after a denial by China about possible reviews of European debt holdings helped the markets.
At 9:02 hours IST, the Nifty was trading at 5055, up 52 points and the Sensex was at 16849, up 183 points.
The CNX Midcap Index rose 108 points to 7658. About 674 shares advanced while 63 shares declined on the NSE.
Among frontliners, Hindalco was up 3% on Novelis numbers. Tata Motors jumped 3% post numbers.
Cairn India, Idea Cellular, Tata Steel (above Rs 500), Sterlite Industries, M&M, Unitech, SAIL, Jaiprakash Associates, Suzlon, ICICI Bank, ABB and Ambuja Cements were witnessing buying interest.
Midcap & Smallcap space:
Areva T&D rose 7%, as it made open offer at Rs 295/share.
S Kumars Nationwide was up 4%.
Sesa Goa shot up 5%. Orchid Chemical gained 7% post numbers.
Kingfisher Airlines, Gujarat NRE Coke and RCF were up 3.4-4%.
Amtek India rose 4%; 1.63 crore shares of the company changed hands on BSE at Rs 64.95/share.
Aban Offshore, Hanung Toys, TVS Motors and HCC went up 3-4%.
However, Fortis Healthcare lost 1%.
Global cues:
Asian markets were positive in trade. Hang Seng and Nikkei gained 1.7% each. Shanghai, Straits Times, Kospi, Taiwan and Jakarta went up 0.5-0.9%.
The US markets surged after a denial by China about possible reviews of European debt holdings. Euro gained 1.5%.
The Dow Jones Industrial Average gained 285 points at 10259. The Nasdaq Composite surged 82 points at 2278 and S&P 500 was up 35 points at 1103 (200 DMA at 1105).
Commodities
CRB Commodity Index rose 1.9%, best percentage gain in almost 2 months.
CRB Index gained more than 3.5% in past two sessions.
Crude oil surged 4.2% at USD 74.5/bbl, gained around 8% during past two sessions.
Natural gas futures rose 2.7% at USD 4.29 per MMBtu.
Gold was down 0.2% at USD 1211.5/ounce.
Silver went up 0.8% at USD 18.46/ounce.
LME Index, a measure of six metals, gained 3% yesterday.
Market cues:
As per provisional data of May 27, FIIs were net sellers of Rs 533 crore; DIIs were net buyers of Rs 410 crore in cash markets. FIIs were net buyers of Rs 610 crore in F&O.
F&O cues:
Nifty Open Int PCR at 1.22 versus 1.15
Nifty 5100 Call adds 12.4 lakh shares in Open Int
Nifty 5200 Call adds 10.7 lakh shares in Open Int
Nifty 4800 Put adds 9.7 lakh shares in Open Int
Nifty 4900 Put adds 7.9 lakh shares in Open Int
Nifty 5000 Call adds 5.8 lakh shares in Open Int
Mkt pullback enters day 3, experts see trend continuing
The pullback rally continued for the third straight session and the markets clocked another steady session with no signs of volatility. The Nifty closed above the 5,050 mark at 5,066, up 63 points. The Sensex shut shop at 16,863, up 196 points. For the week, both the Sensex and Nifty clocked in gains of over 2.5% each.The markets have recovered well in the last few sessions and analysts seem positive that this trend will continue.
Mitesh Thacker, Technical Analyst, miteshthacker.com, expects the Nifty to touch 5,150-5,200 in the short-term. "There are a lot of supply areas in that 50 points range. Looking at the action of last two-three days and looking at the fact that we are still far away from giving any kind of weakness or weak signals on intraday chart, I think over the next two-three days we will test those levels." However, he is unsure where the broader trend is going because as of now there is still no clear indications on that.
Similarly, Dipan Mehta, Member, BSE and NSE, sees the Nifty trading in 5,000-5,300 or may be 5,100-5,400 range going forward. "The pull back has been quite phenomenal and fortunately it’s been across the globe. We are also seeing a decent amount of rebound in European stocks. Today, we are seeing decent amount of institutional buying coming in as well. Some of the HNIs, who have been waiting in the sidelines, also seem to be putting their money to work. What we need is may be a few more trading sessions of calmness in overseas markets and may be our markets will trade in that 5,000-5,300, may be 5,100-5,400 range."
Going forward, he said the rally will depend on the monsoons. "That’s a big question mark and the answer to that would be known only in first week or may be in the middle of July. So, expect the markets to remain rangebound till then. Thereafter, depending on the progress of the monsoon, we could see this range being broken either on the upside or downside."
According to him, the Nifty could slip below 4,500 levels if the crisis in the EU economies worsens or there is a poor monsoon.
Wednesday, May 26, 2010
Tuesday, May 25, 2010
Monday, May 24, 2010
Nifty ends with modest gains; Ambani group cos' shrs surge
| he benchmark Nifty erased nearly all gains in last ten minutes of trade and closed the session on a flat note with positive bias, despite buying in Reliance group companies' shares. Financial, metal, realty, auto and pharma companies' shares along with ITC and ONGC dragged the Nifty below 4950 level. The Sensex wiped out 288 points and Nifty 86 points from day's high. Reliance was the buzz on the street today post Ambani brothers' patch up news. Billionaire Ambani brothers have at last struck truce. In a step towards reconciliation of their long-running feud on Sunday, Mukesh and Anil Ambani announced that they are ending non-compete agreements in a step they hoped would lead to cooperation between the two groups. Experts believe this would be good opportunity for Reliance Industries. Ashvin Parekh of Ernst & Young said this was a very good opportunity for Reliance Industries, especially in telecom. “The company would certainly explore entering the financial services sector.” He further went on to say that insurance and asset management could be easy options for RIL. Investment Advisor SP Tulsian, said, RIL could be interested in thermal power projects. “The company would be interested in acquiring two to three ultra mega power projects (UMPPs).” Shares of Mukesh Ambani group company Reliance Industries rose 2.7% and Reliance Industrial Infrastructure gained 11%. Even shares of Anil Ambani group companies like Reliance Communications, Reliance Power, Reliance Infrastructure and Reliance Capital went up 4-11%. RNRL surged 22.58%. The 30-shares Sensex closed at 16,469.55, up 23.94 points and the 50-share NSE Nifty rose just 12.80 points to 4,943.95, which hit 5000 mark in early trade. However, the Nifty May Futures ended with 32 points discount, as per provisional data. In the capital goods space, Siemens was up 2% and L&T up 1.4%. BHEL rose 0.56% and ABB gained just 0.16%. Infosys, HCL Tech and Wipro from technology pack went up 0.7-1% while TCS was flat. However, SBI and HDFC from financial segment were down 1.7% each. Axis Bank was down 1.4%, PNB down 0.7%, ICICI Bank down 0.3% and HDFC Bank down 0.1%. _PAGEBREAK_ Hindalco from metal space tanked 4%. SAIL, Tata Steel and Sterlite Industries slipped 0.8-1.6% while Jindal Steel gained 1%. ITC from FMCG pack lost 1.2% while HUL rose 0.4%. DLF and Unitech from realty space declined 2% each. M&M and Maruti Suzuki from auto space were down over 1.7%. Tata Motors was down 0.4% while Hero Honda gained 2%. The BSE Midcap Index ended flat; while Smallcap Index rose just 0.6%. About 1733 shares advanced while 1221 shares declined on the BSE. Nearly 341 shares remained unchanged. In the midcap space, JM Financial, Shree Renuka, Jai Corp, Balrampur Chini and REI Six Ten were up 4.6-8.9% while Bajaj Finserv, Bayer Cropscience, Rajesh Exports, Tata Chemicals and Anant Raj Industries lost 3.7-6%. In the smallcap space, Zydus Wellness, Lloyds Metals, Sahara One and NRB Bearings went up 6.7-11.8%. However, Suashish Diamond tumbled 16.85% to Rs 190, as the company rejected discovered reverse book building price of Rs 320 per share. Its floor price was at Rs 220. CMI FPE, Ruby Mills, DCM Shriram Ind and Bajaj Auto Finance declined 5-7.5%. The markets reported total turnover of Rs 1,34,914.56 crore. This included Rs 12,328.40 crore from the NSE cash segment, Rs 1,18,524.33 crore from the NSE F&O and the balance Rs 4,061.83 crore from the BSE cash segment. _PAGEBREAK_ Nifty holds 4950; RIL, Rel Comm, Rel Power top gainers At 14:40 hours IST - the benchmark Sensex was up more than 100 points but was extremely volatile in trade. It erased nearly 150 points from day's high. Mukesh and Anil Ambani group companies' shares along with capital goods, telecom, technology, power and select metal companies' shares were supporting the markets. However, selling in HDFC, SBI, Hindalco, ONGC, DLF, Tata Power, Unitech, ITC, Maruti, ACC, Tata Steel, Sun Pharma and M&M capped the gains to major extent. The Sensex was trading at 16554, up 109 points and the Nifty was at 4959, up 28 points. The Nifty May future was trading with 5-7 points discount. The US index futures declined over 0.5%. Among European markets, FTSE and DAX were in negative terrain while CAC was up a bit. Top gainers on the BSE Midcap: JM Financial, Jai Corp, Shree Renuka, OnMobile Global and Gammon Infra were up 5-8%. Top losers on the BSE Midcap: Bajaj Finserv, Bombay Rayon, Indiabulls, Anant Raj Industries and Piramal Healthcare were down 2.6-6%. Top gainers on the BSE Smallcap: Reliance Industrial Infra, Lloyds Metals, OM Metals Infra, Man Industries and NRB Bearings were up 7-13%. Top losers on the BSE Smallcap: Suashish Diamonds, CMI FPE, Ruby Mills, Kanani Industries and Subhkam Capital were down 5-13%. Sensex gives up some gains; HDFC, ONGC, ITC slip At 13:38 hours IST - the benchmark Nifty gave up some gains due to sell-off in HDFC, ONGC, ITC, GAIL, Sun Pharma, Maruti, Unitech, Power Grid, BPCL, Cipla and Tata Power. SBI also turned flat. Fall in European markets from day's high also put some pressure on the markets. However, the markets remained positive despite profit booking at higher levels. Reliance group companies' shares were quite supportive. Reliance Industries rose 3.5% and Reliance Industrial Infrastructure went up 13%. Reliance Power, Reliance Communications, Reliance Infrastructure and Reliance Capital were up 6-10%. RNRL gained 21%. The Sensex was trading at 16593, 147 points and the Nifty was at 4975, up 44 points. The broader indices also slipped from day's high; the BSE Midcap index was up 1% and Smallcap up 1.8%. About 2098 shares advanced while 818 shares declined on the BSE. Nearly 379 shares were unchanged. Adani Enterprises, Piramal Health, Reliance Industries, Reliance Natural Resources, Reliance Infra and Tata Motors were the most active shares on the bourses. Nifty extends gains; power, metal, cap goods, auto shine At 12.07 hrs IST, the NSE Nifty was trading above the 5,000 level with positive bias. The markets opened on a buoyant note on the back both the Reliance camps calling for ceasefire on Sunday. After hovering around 5,000 zone for quite sometime, Nifty finally broke out decisively above the important psychological mark. Heavy buying was seen in oil & gas, power, metal, capital goods, auto, consumer durables and realty stocks. All BSE sectoral indices were trading in green. The broader markets too witnessed smart rally in today’s trade. BSE Smallcap index was up 2.2%. The Sensex was up 269.72 points or 1.64% at 16715.33, and the Nifty up 83.95 points or 1.70% at 5015.10. About 2164 shares advanced while 713 shares declined on the BSE. Nearly 418 shares were unchanged. In the largecap space, Reliance Power and Reliance Infra were up more than 10%. Reliance Comm, Reliance Capital and Jaiprakash Associates were up 4-8%. HDFC, Sun Pharma, Power Grid Corp, ABB and Cipla were trading in red. Index heavyweight Reliance was trading at Rs 1,033.15 up 3.76% from its previous close of Rs 995.75. Tech major Infosys was trading at Rs 2,618.40 up 1.25% from its previous close of Rs 2,586.15. Refinery major HPCL was trading at Rs 348.25 up 0.29% from its previous close of Rs 347.25. Hindustan Lever was trading at Rs 231.90 up 0.61% from its previous close of Rs 230.50. Cigarette major ITC was trading at Rs 271.85 up 0.13% from its previous close of Rs 271.50. Top percentage gainers - Reliance Natural Resources shot up 23.15%. Aekta, Nirav Commercial, Metrochem, Shree Ajit Pulp, Tips Industries, Reliance Industrial Infrastructure, Insecticides and Bang Overseas were up 13-17%. In the midcap space, Jai Corp, Nirma, Gujarat NRE Coke, REI Six Ten and OnMobile Global went up 6-7.7%. However, Anant Raj Industries, DB Corp, Bombay Rayon, Trent and Piramal Health lost 1.6-2.6%. In the smallcap space, Lloyds Metals, OM Metals Infra, Venkys and TRF gained 8-11.5% while Suashish Diamond fell 10.8%. CMI FPE, Kanani Industries, Subhkam Capital and Intra Infotech declined 4.5-6.7%. Sensex up over 200 pts; Reliance group cos' shares gain At 10:51 hours IST - the benchmark Sensex was trading 200 points higher on back of buying in Reliance group companies' shares as well as banking, auto, realty, metal, cement and capital goods companies' shares. Asian markets were also quite supportive. Shanghai rose 3%. Hang Seng, Jakarta, Straits Times, Kospi and Taiwan were up 0.5-1.5%. The Sensex was trading at 16,665, up 220 points and the Nifty was at 5000, up 69 points. Top gainers - Reliance Infrastructure was trading at Rs 1,051.35, up 6.36%; Reliance Communication was at Rs 141, up 5.70%; Reliance Industries was at Rs 1,030.25, up 3.46%; Tata Motors was at Rs 731.50, up 2.98%; Sterlite Industries was at Rs 659.10, up 2.70%; Reliance Power was at Rs 151.45, up 9.15% and Reliance Capital was at Rs 679, up 5.74%. However, HDFC, TCS, Tata Power, Sun Pharma, Cipla and ABB were the only losers. The broader indices were outperforming the benchmark indices; the BSE Midcap Index was up 1.6% and Smallcap up 2%. The market breadth was strong; about 2085 shares advanced while 784 shares declined. Nearly 426 shares were unchanged. Adani Enterprises, Piramal Health, Reliance Industries, Reliance Natural Resources, Bank Of Rajasthan, Tata Motors and ICICI Bank were the most active shares on the bourses. In the midcap space, Jai Corp, Gammon Infra, Gujarat NRE Coke, Nirma and Andrew Yule were up 6-8.5% while Bombay Rayon, P&G, Karnataka Bank, Motherson Sumi and Bajaj Finserv fell 0.8-1.4%. In the smallcap space, Reliance Industrial Infra shot up 13.6%. ARSS Infra, OM Metals Infra, Assam Company and Forbes Gokak gained 7.6-8.5%. However, CMI FPE, Suashish Diamon, Kanani Industries, Subhkam Capital and Maharashtra Scooters declined 4.5-8.5%. Nifty hits 5K on Ambani brothers patch-up news The benchmark Nifty started the day on a strong note and hit the 5000 mark on Ambani brothers patch-up news. Both brothers ended non-compete agreement. Short covering was another reason behind this surge. Global cues remained positive. Mukesh & Anil Ambani agreed to cancel all non-compete agreements. Heavyweight Reliance Industries surged 5%. Anil Dhirbhai Ambani Group - Reliance Power went up 11.5%. Reliance Power, Reliance Capital, Reliance Infrastructure and Reliance Communications were up 5-7%. RNRL rose 30%. At 9:02 hours IST, the Nifty was trading at 5001, up 70.55 points and the Sensex was at 16680, up 234 points. The CNX Midcap rose 118 points to 7700 and BSE Smallcap went up 119 points to 8534. About 667 shares advanced while 79 shares declined on the NSE. Among other frontliners, Tata Motors, Tata Steel, Jaiprakash Associates, Unitech and Sterlite Industries gained. ICICI Bank rose 1.8% and Bank of Rajasthan was up 9%. Both banks' boards approved merger and fixed swap ratio of 1:4.72. However, Sun Pharma, Bharti and HUL were down. Midcap & Smallcap space: Godrej Consumer shot up 10%. The company bought Hair dye company in LatAM. Gujarat NRE Coke was up 5.4% and Aban Offshore up 3.55%. Bajaj Hindusthan and Balrampur Chini were up 2.4% each. However, Adani Enterprises fell 7%. Global cues: Asian markets were trading higher. Shanghai shot up 3%. Straits Times, Taiwan Weighted, Jakarta and Hang Seng were up 0.7-1.7%. Kospi rose 0.3% while Nikkei fell 0.3%. The US markets recovered from day's low to end at highest point of day's trading range. Germany approved European Union's USD 1 trillion rescue package. The Dow Jones Industrial Average ended up 125 points or 1.25% at 10193 on Friday, after seeing recovery of 276 points from day's low of 9918. The Nasdaq Composite rose 25 points or 1.1% at 2229, after seeing recovery of 64 points from day's low of 2165. The S&P 500 Index went up 16 points or 1.5% at 1088, after seeing recovery of 32 points from day's low of 1056. Market cues: Signs of Ambani brothers patch-up Ambani brothers end non-compete agreement FIIs were net sellers of USD 152 million in equities on May 20 NSE F&O Open Int was up Rs 3292 crore at Rs 1.45 lakh crore As per provisional data of May 21, FIIs were net sellers of Rs 1540 crore, DIIs were net buyers of Rs 817 crore in cash markets. FIIs were net buyers of Rs 105 crore in F&O. F&O cues: -Futures Open Int up Rs 1557 crore -Options Open Int up Rs 1735 crore -Nifty May Futures add 11 lakh shares in Open Int -Nifty May Futures at 3-point discount -Nifty June Futures add 13 lakh shares in Open Int -Nifty June Futures at 6-point discount -Nifty Open Int PCR at 1.02 versus 1.03 -Nifty Puts add 17 lakh shares in Open Int -Nifty Calls add 21 lakh shares in Open Int -Nifty May 4800 Put adds 11 lakh shares in Open Int -Nifty May 4900 Put sheds 11 lakh shares in Open Int -Nifty May 4800 Call adds 10 lakh shares in Open Int -Stock Futures add 2.7 crore shares in Open Int |
nifty trading idea for 25/05/2010
NIFTY BUY ABOVE 4974 SL 4943 TARGET 5005,5104
&
SELL ONLY BELOW 4943 SL 4974 TARGET 4906, 4845
Wednesday, May 19, 2010
nifty idea for 20/5/2010
NIFTY BUY ONLY ABOVE 4974 STRICT SL 4901 TARGET 5019,5056,5093
&
SELL BELOW 4901 SL 4974 TARGET 4708
Tuesday, May 18, 2010
nifty idea for 19/5/2010
buy nifty above 5090 with sl 5059 target 5120,5218
&
sell below 5059 with sl 5090 tgt 5022,4968
Monday, May 17, 2010
world market update
nifty levels for 18/05/2010
&
sell nifty below 5023 with sl 5059 targets
4964-4808
for live market calls add my yahoo id
tradetiger@rocketmail.com
Friday, May 14, 2010
Crucial support for Nifty at 5150-5095: Gaba
Technical Analyst, Prakash Gaba
Nifty (5179): We said ‘The market can see an up move as long as 5095 holds and the target in the days to come could be 5250’. The market unfolded in the green but is now at very crucial stage and I would maintain the market is up as long as 5150 holds but if 5150 goes then the market could once again shed some weight.
The crucial support on the downside for the Nifty is at 5150-5095 and resistance at 5205-5241.
BSE Sensex (17266): The crucial support on the Sensex on the downside is at 17200-17030-16950 and resistance at 17350-17390-17461.
26 PSU banks hit a bad debt of Rs 3000cr
Twenty-six Indian banks including leading PSU banks are staring down the barrel of a Rs 3,000 crore hit. The reason being loans extended to little known real-estate company Zoom Developers, reports CNBC-TV18’s Vidhi Godiawala.Zoom Developers is a Mumbai-based project development company with majority of its project in overseas. Twenty-six banks have admitted a total of nearly Rs 3,000 crore of Zoom Developers debt into the corporate debt restructuring (CDR) sell. in this, Rs 3,200 crore is in terms of non-funded bank guarantee of which Rs 900 crore is already being invoked by the banks and Rs 300 crore is in terms of line of credit (LC) and loans and the rest nearly of Rs 400 crore is debt of its subsidiary and group companies.
The company went into losses in September, 2009. It made losses of Rs 300 crore of which Rs 146 crore is forex losses. The entire slowdown in the global economy has taken its toll. The cash of the company dried up due to which they differed the payment to the lenders—substantially debtors realisation cycle increased to 150 days as compared to earlier 35 to 45 days.
According to sources, Punjab National Bank (PNB), which has a exposure of Rs 350 crore, has referred this case to the CDR cell. Some of the other banks involved are Yes Bank, Union Bank, UCO Bank, Canara Bank. In fact, Canara Bank and Andhra Bank have already classified this Zoom Developers account as a non performing asset (NPA) on its books.
Zoom Developers on their part admitted that the company is in CDR process with its lenders and they are not expecting too much of sacrifices from the banking system and they have sold some of their property—they have sold their offices in March and April to pay salaries to their employees and also pay some interest. They are looking to sell some more properties to repay their loans.
Nifty ends 85 pts lower on Eurozone debt fears; SBI dips 4%
| The benchmark Nifty witnessed huge selling pressure in the second half of trade, especially after European markets opening. The Index closed the session below the 5100 mark. The Sensex also shed 271 points to close below the psychological 17000 level. European markets were down 1.5-3%, at the time of closing of Indian equities on speculation that fiscal austerity in some Eurozone countries may stifle economic growth.The Euro was trading near 14-month low as against dollar. Even crude oil prices slipped to USD 72.92 a barrel, down by USD 1.48 per barrel. On Monday, European Union and IMF had announced USD 1 trillion bailout package for Eurozone countries, especially PIIGS (Portugal, Italy, Ireland, Greece and Spain), which are facing debt problem. All the global markets rallied sharply on this news on Monday. But investors remained doubtful about implementation of this package and whether these countries would be able to solve their problem with this package. With its USD 1 trillion rescue package from the International Monetary Fund (IMF) and the European Union, Europe may have managed to dodge the bullet, but the problems are not yet over, says Russell Napier, Strategist, CLSA. “The ECB wants parts of Europe to deflate. However, deflation, both politically and socially is impossible,” he says. There has been a face off between the ECB and the European governments, he says, adding that the crisis could have been as big as Lehman. However, now, the risk is much lower than last week. The 30-share BSE Sensex closed at 16,994.60, down 271.27 points or 1.57% and the 50-share NSE Nifty fell 85.40 points or 1.65% to settle at 5093.50. The Nifty May future ended with 24 points discount, as per provisional data. Almost the all major sectoral indices dragged the markets down. The BSE Metal Index tumbled 3.5%. Realty, Oil & Gas, Bank, Capital Goods, Auto and IT indices declined 1-2.5%. The total turnover of the day was Rs 116467.8 crore. The NSE F&O turnover was Rs 99457.1 crore. The NSE Cash turnover was Rs 13057.84 crore while the BSE Cash turnover was Rs 3952.33 crore. (With inputs from Reuters) For top gainers/losers, sectoral gainers/losers in midcap and smallcap space, click on the next page _PAGEBREAK_ In the midcap space, BF Utilities, Sun Pharma Advanced, Godrej Industries, Bajaj Finserv and MRF gained 4.5-11%. However, Aban Offshore plunged 18.29%, as Aban Pearl, an offshore natural gas exploration rig, owned by Aban Offshore, India's largest oil rig company, sank off the coast of northeastern Venezuela. Hindustan Oil Exploration, Jubilant Foodworks, Hindustan National Glass and Simplex Infra were down 5.5-6%. In the smallcap space, Henkel India, Tata Coffee, Goodyear, Prism Cement and Piramal Life went up 5-10% while Elpro Int, Graphite India, Kirloskar Ferro, Hexaware Tech and WABCO-TVS lost 5.6-6.6%. Tata Steel was the top loser in the metal space with 4.6% loss. Sterlite Industries, Jindal Steel, NMDC and SAIL were down 1-4%. Indiabulls Real Esate lost nearly 3% after gaining 6% in yesterday's trade. Realty major Unitech lost close to4%. DLF, DB Realty, Orbit Corp, Parsvnath Developers and Sunteck Realty were down 2-3%. Idea Cellular gained more than 3% in the telecom space. India's largest telecom operator, Bharti Airtel was up close to 2%. Reliance Communication ended with 1.4% loss. Reliance Industries was down more than 2.5% in the oil&gas space. RNRL lost another 4%. Oil marketing companies ended in green. SBI was the top loser in the banking space on disappointing results. Axis Bank, ICICI Bank, Kotak Mahindra Bank, Bank of India and Punjab National Bank were down 1-2%. ABB, Areva T&D, L&T, Punj Lloyd and BHEL were down 1-3% in the capital goods space. Commodities Gold hit record highs near $1,250 an ounce in on Friday as concerns over the fiscal stability of the euro zone prompted selling of the euro and equities in favour of assets seen as safer such as bullion. Crude was hovering around USD 73 per barrel. It was down close to 2%. _PAGEBREAK_ Sensex resumes downward journey; Spain index slides 4% At 14.43 hrs IST, markets were looking jittery on fears of eurozone debt. European markets lost further ground after opening in red. Spain index was down close to 4%. DAX was down close to 1%. CAC lost nearly 3% while FTSE was down more than 1.5%. The euro fell below 1.25 dollars recording a new 14-month low on concerns about the eurozone financial crisis. The Sensex was down 139.26 points or 0.81% at 17126.61, and the Nifty down 49.65 points or 0.96% at 5129.25. About 1058 shares advanced, 1924 shares declined, and 300 shares were unchanged. Selling pressure in metal, banking, realty and oil&gas stocks drageed the Sensex down over 100 points. FMCG stocks saw decent buying. High-risk assets including stocks took a hit while gold hovered near a record high and the dollar hit its highest level versus a currency basket in a year, as worries about the euro zone debt crisis prompted demand for safer investments. Hindustan Lever was trading at Rs 236.90 down 0.57% from its previous close of Rs 238.25. Index heavyweight Reliance was trading at Rs 1,051.35 down 1.91% from its previous close of Rs 1,071.80. Tech major Infosys was trading at Rs 2,686.80 down 0.57% from its previous close of Rs 2,702.15. Cigarette major ITC was trading at Rs 271.40 up 1.9% from its previous close of Rs 266.35. Refinery major HPCL was trading at Rs 334.60 up 1.83% from its previous close of Rs 328.60 Top gainers on the BSE Midcap: BF Utilities, Sun Pharma Advance, Godrej Industries, Bajaj Finserv and MRF were up 4-15%. Top losers on the BSE Midcap: Aban Offshore, Gee Kay Finance, Hind Oil Exploration, Hind Nat Glass and OnMobile Global were down 5-18%. Top gainers on the BSE Smallcap: Henkel India, Infinite Computers, Goodyear, Tata Coffee and Timken were up 7-10%. Top losers on the BSE Smallcap: Graphite India, Elpro International, Jindal Worldwide, Koutons Retail and Zodiac Clothing were down 5-6%. Nifty tests 5150; European markets down 0.7-2% At 13.14 hrs IST, Nifty was down close to 0.5% after weak opening of European markets. The market looks nervous ahead of the weekend. Heavy selling in metals, oil&gas, realty and banking stocks dragged the markets down. FMCG and pharma stocks saw some good buying. The Sensex was down 65.08 points or 0.38% at 17200.79, and the Nifty down 28.20 points or 0.54% at 5150.70. About 1179 shares advanced, 1768 shares declined, and 335 shares were unchanged. World stocks have risen close to 6 percent this week following the weekend's 750 billion euro agreement by the European Union and International Monetary Fund to stave off a sovereign debt crisis. Asian markets were trading more or less flat. European markets opened in red. CAC was down 2%. DAX was down 0.7% and FTSE was down close to 1%. Top gainers on the Nifty: Bharti Airtel, Idea Cellular, ITC, HCL Tech and BPCL were down 1.2-2.2%. Top losers on the Nifty: Cairn India, Tata Steel, Jindal Steel, Unitech and Jaiprakash Associates were down 2.2-3.4%. In the midcap space, BF Utilities, Sun Pharma Advance, Godrej Industries, Bajaj Finserv and Tata Tea were up 3.5-12.5%. On the losing side, Aban Offshore lost more than 15%. Hind Nat Glass, Gee Kay Finance, Hind Oil Explor and MTNL were down 3-5%. In the smallcap space, Henkel India, Tata Coffee, Goodyear, Timken and Infinite Compuetrs were up 8-10%. Graphite India, Jindal Worldwide, Mahindra Forging, Cambridge Solutions and Savita Oil Tech were down 4-6%. Nifty consolidates; April WPI inflation at 9.59% At 11.44 hrs IST, the Nifty was trading flat. It was a lacklustre session for the markets on the back of quiet global cues. Buying was seen in FMCG, telecom, IT and pharma stocks. Metal stocks continued to reel under pressure. Oil&gas, realty and auto stocks were also under pressure. The broader markets also mirrored the movement of largecaps. The BSE Midcap and Smallcap index were also flat. April WPI inflation stood at 9.59% Vs 9.9% (MoM). The Sensex was up 5.05 points or 0.03% at 17270.92, and the Nifty was up 0.80 points or 0.02% at 5179.70. About 1362 shares advanced, 1562 shares declined, and 358 shares were unchanged. In the largecap space, Bharti Airtel was the top gainer with close to 2.5% gain. ITC, TCS, Grasim and Cipla were up 0.9-1.4%. On the losing side, Tata Steel, Jaiprakash Associates, Sterlite Industries, Reliance Industries and Hindalco were down 0.7-1.7%. Index heavyweight Reliance was trading at Rs 1,062.25 down 0.89% from its previous close of Rs 1,071.80. Refinery major HPCL was trading at Rs 332.30 up 1.13% from its previous close of Rs 328.60. Tech major Infosys was trading at Rs 2,714.10 up 0.44% from its previous close of Rs 2,702.15. Cigarette major ITC was trading at Rs 270.05 up 1.39% from its previous close of Rs 266.35. Hindustan Lever was trading at Rs 238.25 down 0% from its previous close of Rs 238.25. Top gainers on the BSE Midcap: BF Utilities, Sun Pharma Advance Research, Bajaj Finserv, Godrej Indsutries and Tata Tea were up 4-11%. Top losers on the BSE Midcap: Aban Offshore, Gee Kay Finance, Hind Nat Glass, MTNL and Great Offshore were down 3-17%. Top gainers on the BSE Smallcap: Henkel India, Ushdev International, Tata Coffee, JK Tyre & Ind and Supreme Infra were up 6-9%. Top losers on the BSE Smallcap: Graphite India, Elpro International, Jindal Worldwide, JMD Telefilms and Indian Metals were down 3.5-5.5%. Nifty consolidates; April WPI inflation at 9.59% At 11.44 hrs IST, the Nifty was trading flat. It was a lacklustre session for the markets on the back of quiet global cues. Buying was seen in FMCG, telecom, IT and pharma stocks. Metal stocks continued to reel under pressure. Oil&gas, realty and auto stocks were also under pressure. The broader markets also mirrored the movement of largecaps. The BSE Midcap and Smallcap index were also flat. April WPI inflation stood at 9.59% Vs 9.9% (MoM). The Sensex was up 5.05 points or 0.03% at 17270.92, and the Nifty was up 0.80 points or 0.02% at 5179.70. About 1362 shares advanced, 1562 shares declined, and 358 shares were unchanged. In the largecap space, Bharti Airtel was the top gainer with close to 2.5% gain. ITC, TCS, Grasim and Cipla were up 0.9-1.4%. On the losing side, Tata Steel, Jaiprakash Associates, Sterlite Industries, Reliance Industries and Hindalco were down 0.7-1.7%. Index heavyweight Reliance was trading at Rs 1,062.25 down 0.89% from its previous close of Rs 1,071.80. Refinery major HPCL was trading at Rs 332.30 up 1.13% from its previous close of Rs 328.60. Tech major Infosys was trading at Rs 2,714.10 up 0.44% from its previous close of Rs 2,702.15. Cigarette major ITC was trading at Rs 270.05 up 1.39% from its previous close of Rs 266.35. Hindustan Lever was trading at Rs 238.25 down 0% from its previous close of Rs 238.25. Top gainers on the BSE Midcap: BF Utilities, Sun Pharma Advance Research, Bajaj Finserv, Godrej Indsutries and Tata Tea were up 4-11%. Top losers on the BSE Midcap: Aban Offshore, Gee Kay Finance, Hind Nat Glass, MTNL and Great Offshore were down 3-17%. Top gainers on the BSE Smallcap: Henkel India, Ushdev International, Tata Coffee, JK Tyre & Ind and Supreme Infra were up 6-9%. Top losers on the BSE Smallcap: Graphite India, Elpro International, Jindal Worldwide, JMD Telefilms and Indian Metals were down 3.5-5.5%. Nifty trades in narrow range; Bharti, Idea top gainers At 10:52 hours IST - the benchmark Nifty was trading in a narrow range of 5160-5190 due to lack of Asian cues. Asian markets were quite mixed in trade after initial sell-off. Metal and private financial companies' shares were under pressure. Heavyweight Reliance Industries was down over 0.5%, which weighed a bit on the markets. Cairn India, M&M, Unitech and Tata Motors were other losers. However, technology, capital goods, telecom, healthcare and cement companies' shares were supporting the markets. Bharti Airtel was the leader on the Nifty, up over 3%. SBI and DLF were marginally in green ahead of their fourth quarter numbers. The Sensex was trading 17321, up 55 points and the Nifty was at 5189, up 10 points. The Nifty May future was trading with 8 points premium. About 1471 shares advanced while 1437 shares declined on the BSE. Nearly 374 shares were unchanged. Aban Offshore (down 16%), Bajaj Finserv, Alok Industries, JSW Steel, SBI, Axis Bank, Bharti Airteland Tata Steel were the most active shares on the bourses. Aban Offshore said its Pearl has sunk in Venezuela. Experts believe that the company was likely to see revenue loss of USD 120 million. Nifty rangebound; Bharti, ITC up, ICICI Bk, RIL dip The benchmark Nifty started the day on a flat note with negative bias. Weak global cues were weighing on the markets to some extent. Otherwise overall the markets were witnessing rangebound trade. All sectors were seeing mixed trade. At 9:02 hours IST, the Nifty was trading at 5,164, down 15 points and the Sensex was at 17,229, down 36 points. About 296 shares advanced while 404 shares declined on the NSE. Among the frontliners, Idea, Cairn, Tata Steel and Jindal Steel & Power were losers while Bharti Airtel, ITC and HUL were gainers in early trade. Aban Offshore plunged 16%, as its Pearl sunk in Caribbean. Experts believe that its FY11 revenue loss is likely at USD 120 million. MTNL tumbled 5% on disappointing results. Its net loss increased to Rs 1,573.7 crore from net loss of Rs 894.9 crore (QoQ). Parsvnath Developers lost 3.6%. IT Department initiated search action against Parsvnath, reports CNBC-TV18 quoting sources. Shree Renuka Sugars and Bajaj Hindusthan fell 0.6-1%. Bajaj Finserv lost 3.5% on profit booking. Newly listed - Nitesh Estates fell 2.4%, which had fallen 5% on day one. Talwalkars Fitnesss fell 1.4% on profit booking. Ballarpur Industries rose 3%. Everest Kanto and Exide Industries were up 1% each. Global cues: Asian markets were trading lower. Shanghai, Hang Seng, Kospi and Taiwan were down 0.1-0.7%. Nikkei lost 1.6%. The US markets ended down after gaining nearly 5% during last three trading sessions. Dollar index zoomed post 85. The Dow Jones Industrial Average ended down 114 points at 10783. The Nasdaq Composite was down 31 points at 2394 and S&P 500 down 14 points at 1157. Market cues: Inflation data for April will be released today. CNBC-TV18 poll sees April inflation at 9.54% as against 9.9% in March. NSE F&O Open Interest was up by Rs 3233 crore at Rs 1.32 lakh crore. Institutional action FIIs were net sellers to the tune of Rs 15.6 crore while DIIs net buyers of Rs 222 crore in cash markets on May 13, as per provisional data available on NSE website. FIIs net bought Rs 1863 crore in F&O. F&O cues: - Nifty Futures Open Interest up Rs 191 crore - Nifty Options Open Interest (OI) up Rs 3042 crore - Nifty Futures shed 7 lakh shares in Open Interest - Nifty Futures ended at par with spot - Nifty Open Interest PCR at 1.18 versus 1.19 - Nifty Puts added 27 lakh shares in Open Interest - Nifty Calls added 25 lakh shares in Open Interest - Nifty 5200 Put added 9.2 lakh shares in Open Interest - Nifty 5300 Call added 5 lakh shares in Open Interest - Nifty 5200 Call added 4 lakh shares in Open Interest - Stock Futures shed 0.5 crore shares in Open Interest |
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