market view 30.11.2009

SENSEX 16926.22 294.21
NIFTY 5032.70 90.95
NASDAQ 2176.05 6.87
DJIA 10426.31 -11.11
RS/$ 46.25 - 0.16
The Indian stock market got a shot in the arm Monday after the country’s gross domestic product grew by an astonishing 7.9 per cent in the second quarter for 2009-10 against expectations of 6.3 per cent. The GDP grew at 6.1 per cent in the previous quarter.

Markets opened higher on the back of short covering after a sharp fall Friday on fears of Dubai debt crisis. All the sectoral indices ended in the green. Buying was seen in second rung stocks as well.

“Although the growth momentum is strong, we believe the impact of the drought on agricultural growth would be seen in the next quarter. Looking ahead to 2010, we would expect the role of the private sector to start increasing more rapidly while that of the government to ease gradually. There are upside risks to our FY10 GDP growth forecast of 5.8%. For FY11, we expect GDP to grow near-trend at 7.8%. We believe the recovery in activity will drive the rupee stronger and expect the Reserve Bank of India to start hiking rates in January. We also continue to recommend short USD/INR positions,

Bombay Stock Exchange’s Sensex closed at 16,926.22, up 294.21 points or 1.77 per cent from Friday’s close. The index touched a high of 17,026.91 and low of 16,655.75 intraday.

National Stock Exchange’s Nifty ended at 5032.70, up 90.95 points or 1.84 per cent. The index hit a high of 5066.35 and low of 4942.25.

The BSE Midcap Index was up 1.63 per cent and BSE Smallcap Index moved 2.08 per cent higher.

Biggest Sensex gainers were Tata Steel (5.71%), Bharti Airtel (5.66%), Jaiprakash Associates (5.17%), Tata Motors (5.16%) &Hindalco Industries (3.81%).

Hero Honda (-1.71%), Maruti Suzuki (-0.47%), SBI (-0.42%) and DLF (-0.23%) were amongst the top Sensex losers

Amongst the sectoral indices, BSE Metal was up 3.66 per cent, BSE IT Index gained 2.1 per cent and BSE Oil&gas Index moved 1.6 per cent higher.

MARKET VIEW 24.11.2009

TODAYS MOVERS IN MARKET

Indian markets ended lacklustre session in the negative terrain on Tuesday as traders began churning portfolios ahead of November series expiry. Gains in auto and IT were offset by metals and FMCG stocks
Market opened lower in line with subdued Asian markets and moved in a narrow range with a negative bias. Lack of triggers from domestic front and negative European markets also dampened the sentiments.

Bombay Stock Exchange’s Sensex ended at 17,131.08, down 49.10 points or 0.29 per cent. The 30-share index hit an intra-day low of 17027.52 and high of 17230.86. National Stock Exchange’s Nifty closed at 5090.55, down 13 points or 0.25 per cent. The index touched an intraday high of 5112.85 and low of 5053.50. “Nifty is rangebound and unable to cross above 5100 and sustain. On the downside it is taking support at 4850. Unless there is a trigger to drive the market we will continue to move in range,Second rung stocks outperformed the benchmarks. BSE Midcap Index was up 0.23 per cent and BSE Smallcap Index gained 0.36 per cent.

Amongst the sectoral indices, BSE FMCG Index lost 0.92 per cent, BSE Metal Index shed 0.81 per cent and BSE Oil&Gas Index declined 0.79 per cent. BSE Auto rose 1.45 per cent. Tata Steel (-2.76%), Reliance Infrastructure (-2.27%), ITC (-2.04%), Sterlite Industries (-1.88%) and ICICI Bank (-1.26%) led declines in the 30-share index. Sensex gainers comprised Maruti Suzuki (2.65%), Mahindra & Mahindra (2.42%), Bharti Airtel (2.25%), Hero Honda (2.15%) and Hindalco Industries (1.08%).

Market breadth on BSE turned marginally positive with 1372 advances against 1370 declines. European markets were in the red led following profit booking in commodities.

The US stocks futures indicated a flat opening. At 5:30 pm IST, Dow Jones stock futures was up 0.02 per cent, S&P 500 moved 0.10 per cent higher and Nasdaq 100 declined 0.06 per cent.

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MARKET VIEW 23.11.2009

SENSEX 17180.18 158.33
NIFTY 5103.55 51.10
NASDAQ 2193.14 -10.64
DJIA 10426.31 -11.11
RS/$ 46.25 -0.16

Markets ended on an upbeat note near psychological resistance levels on Monday, taking cues from positive global markets. Indices also took support from gains in index heavyweight Reliance Industries. stocks began trade on the F&O expiry week by extending weekend gains. Buying activity was seen across the board with an exception to IT sector which was down on concerns of weakening dollar against other currencies. Telecom stocks were also under pressure as tariff rate cut competition intensified.

Bombay Stock Exchange’s Sensex ended at 17,180.18, up 158.33 points or 0.93 per cent. The index touched an intraday high of 17214.58 and low of 17045.02. National Stock Exchange’s Nifty closed at 5103.55, up 51.01 points or 1.01 per cent. The broader index touched intraday high of 5113.10 and low of 5052.10. Nifty is likely to face resistance at 5200-5250 and take support around 4700-4800. The index might spend sometime in that range BSE Midcap Index was up 0.31 per cent and BSE Smallcap Index moved up 0.84 per cent. Amongst the sectoral indices, BSE Oil&gas Index jumped 2.65 per cent, BSE FMCG Index moved 2.09 per cent higher and BSE Metal Index gained 1.58 per cent. Biggest Nifty gainers were HCL Technologies (5.8%), GAIL (5.43%), Cipla (4.78%), Tata Steel (4.16%), ITC (3.66%) and Reliance Industries (3.29%).

Shares of Reliance Industries were reacting to the company’s offer for LyondellBasell. According to media reports, RIL could pay up to $12 billion for bankrupt petrochemicals company LyondellBasell. The deal, if consummated, would take Reliance’s topline to more than $80 billion, greater than industry titans such as Dow Chemicals. Prima facie, it looks like a good deal as Reliance Industries will acquire a good asset at an attractive price

Bharti Airtel (-4.9%), Idea Cellular (-3.62%), Jaiprakash Associates (-1.63%), Reliance Communications (-1.27%), Unitech (-1.23%) ended with losses.

Meanwhile, telecom stocks were under pressure as the tariff war got murkier. Tata Teleservices on Sunday extended its per-second billing scheme to roaming calls as well, as the tariff war in the world's fastest-growing wireless market heats up. On Friday, Bharti Airtel introduced a new billing plan that cut mobile roaming rates by nearly 60 per cent.

Market breadth on BSE showed 1560 advances outnumbering 1178 declines. European markets were in the green led by advances by commodities and the US markets were expected to have a strong opening. At 5:15 pm IST, Dow Jones stock futures was up 0.86 per cent, S&P 500 surged 1.02 per cent and Nasdaq 100 moved 0.92 per cent higher

MARKET VIEW 20.11.2009

Todays Nifty Rangers

SENSEX 17021.85 236.20
NIFTY 5052.45 63.45
NASDAQ 2193.14 -10.64
DJIA 10426.31 -11.11
RS/$ 46.25 -0.16 Markets staged a smart recovery in the afternoon on Friday as bulls took charge of the rangebound session following comments from the government on capital inflows and tracking positive European markets.

According to reports, Planning Commission Deputy Chairman Montek Singh Ahluwalia ruled out the possibility of imposing tax to curb foreign funds. This gave a boost to traders who covered shorts in the last hour of session. Gains in European markets also helped boosted sentiments.

National Stock Exchange’s Nifty closed at 5052.45, up 63.45 points or 127 per cent. The broader index hit a high of 5063.30 and low of 4932.80.
Bombay Stock Exchange’s Sensex ended at 17021.85, up 236.20 points or 1.41 per cent. The index touched a high of 17041.79 and low of 16635.75.
Major resistance for Nifty is seen at 5090. The index is likely to spend some time here as supply will emerge around these levels. Once this hurdle is breached then the next Nifty target is seen at 5200The BSE Midcap Index was up 1.08 per cent and BSE Smallcap Index moved 0.43 per cent up.
Amongst the sectoral indices, BSE Bankex was up 1.95 per cent, BSE Oil&gas Index moved 1.52 per cent higher and BSE Metal Index gained 1.37 per cent.
ACC (5%), SAIL (3.59%), Hindalco Industries (3.50%), M&M (3.25) and Jaiprakash Associates (3.24%) were amongst the top Nifty gainers.
Losers included Reliance Capital (-2.77%), Suzlon Energy (-2.46%), Reliance Power (-1.69%), Bharti Airtel (-1.50%) and HCL Technologies (-1.25%).
Market breadth was positive on the BSE with 1,452 advances and 1,240 declines.
European markets failed to hold on to early gains. FTSE 100 was down 0.34 per cent, CAC 40 slipped 0.62 per cent and DAX declined 0.51 per cent.

MARKET VIEW 18.11.2009

Indices ended yet another lukewarm session little changed on Wednesday, in line with other global markets and due to lack of buying activity at current levels. Market opened on a sluggish note and moved in a narrow range. However, selling in heavyweights like Reliance Industries, ICICI Bank and L&T led to a lower closing for the benchmarks. “For the last the three sessions Nifty has been moving in the range of 5000-5080. If it fails to move above 5080 then we may see a downward correction. If it manages to hold 5080 then we may see bout of short of covering taking the index to 5150-5180 levels National Stock Exchange’s Nifty closed at 5054.70, down 7.55 points or 0.15 per cent. The index touched an intra-day low of 5041.65 and high of 5079.30. Bombay Stock Exchange’s Sensex ended below the 17000 mark, settling at 16,998.78, down 51.87 points or 0.3 per cent. The 30-share index touched a high of 17098.79 and low of 16958.41. Unlike the frontline counters, the broader market ended with gains. The BSE Midcap Index was up 0.29 per cent and BSE Smallcap Index moved 0.8 per cent higher. BSE Oil&Gas Index closed 0.84 per cent lower, followed by BSE Bankex down 0.78 per cent and BSE Capital Goods Index down 0.66 per cent. The BSE Metal Index rose 1.2 per cent and BSE IT Index notched up 0.7 per cent. Reliance Infrastructure (-3.2%), Larsen & Toubro (-1.72%), ICICI Bank (-1.47%), Reliance Industries (-1.47%) and Grasim Industries (-1.17%) ended with losses. Tata Motors (3.14%), Tata Steel (1.68%), ITC (1.61%), Infosys Technologies (1.54%) and Jaiprakash Associates (1.06%) restricted the fall. Market breadth was positive on the BSE with 1,598 advances and 1,166 declines.
18.11.2009
SENSEX 16998.78 -51.87
NIFTY 5054.70 -7.55
NASDAQ 2203.78 5.93
DJIA 10437.42 30.46
RS/$ 46.2 -0.16

Regards,
RAKESH MAKIN
Chug securities Pvt Ltd
+91 9915684997, 9041667797
PANCHKULA (Haryana).
Email:makin_97@yahoo.com
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MARKET VIEW 17.11.2009

Equities ended lacklustre session on a flat note Tuesday in line with other peers. Losses in realty, oil&gas and auto were offset by IT and banks. National Stock Exchange’s Nifty ended at 5053.15, down 4.9 points or 0.10 per cent. The index touched a low of 5010.15 and high of 5074 in today’s trade. Bombay Stock Exchange’s Sensex was at 17,030.34, down 2.17 points or 0.01 per cent. The 30-share index hit a high of 17080.17 and low of 16882.98. BSE Midcap Index was down 0.20 per cent and BSE Smallcap Index slipped 0.14 per cent. Amongst the sectoral indices, BSE Realty Index was down 1.54 per cent, BSE Oil&gas Index fell 0.99 per cent and BSE Auto Index declined 0.33 per cent. BSE IT Index was up 1.98 per cent and BSE Bankex gained 0.25 per cent. Biggest Nifty gainers were Reliance Capital (6.07%), TCS (3.49%), Hero Honda (2.05%), Reliance Infrastructure (1.89%) and SAIL (1.85%). Losers were ONGC (-2.47%), DLF (-2.46%), Idea Cellular (-2.32%), Bharti Airtel (-2.08%) and ACC (-2.01%). Market breadth on BSE remained negative with 1409 declines against 1313.The top index gainers included Suzlon, Reliance Power, Maruti Suzuki, DLF, Hero Honda, Sterlite, Siemens, Tata Steel, Reliance Communications, Idea Cellular. Losers comprised HCL Tech, TCS, Power Grid, NTPC, Infosys, HDFC, Ranbaxy, BPCL , Tata Power

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MARKET VIEW 16.11.2009

Equities ended on a firm note on Monday on the back of positive global markets. The upmove was led by gains in auto, realty and metal sectors. Bombay Stock Exchange’s Sensex closed at 17011.67. The 30-share index hit a high of 17083.20 and low of 16893.11. National Stock Exchange’s Nifty ended at 5050.90, up 51.95 points or 1.04 per cent. The broader index hit a high of 5073.20 and low of 4994. BSE Midcap Index gained 1.36 per cent and BSE Smallcap Index moved 1.31 per cent higher. Amongst the sectoral indices, BSE Realty Index moved 3 per cent up, BSE Auto Index surged 2.88 per cent and BSE Metal Index advanced 2.20 per cent. BSE IT Index was down 0.24 per cent. Maruti Suzuki (5.08%), DLF (4.37%), Hero Honda (3.85%), Sterlite Industries (3.21%) and Reliance Communications (2.76%) were amongst the Sensex gainers. TCS (-0.78%), Infosys Technologies (-0.22%), NTPC (-0.16%), HDFC (-0.13%), HDFC Bank (-0.03%) and BHEL (-0.02%) were the only index losers. Market breadth was positive on the BSE with 1727 advances and 1041 declines

MARKET VIEW 11.11.2009

ABAN THE ADVENTURE TODAY

After a flat start to trade, equity benchmarks gained momentum in afternoon trade to finally cruise above crucial levels. Massive gains in metal counters and technology pack aided the rally. The broader market also participated in the rally. National Stock Exchange’s Nifty settled at provisional 5011.05, higher by 2.65 per cent or 129.35 points. The index climbed to a high of 5016.70 from a low of 4870.05 intra-day. Bombay Stock Exchange’s Sensex ended at 16,867.62, up 427.06 points or 2.60 per cent from the previous close.

The index surged to a high of 16,887.80 from a low of 16,405.19. Midcaps and smallcaps found favour as well. The BSE Midcap climbed 2.05 per cent and BSE Smallcap Index edged up 1.59 per cent. Sectorwise, BSE Metal Index surged 4.31 per cent, BSE IT Index rose 4.05 per cent and BSE Realty Index advanced 2.55 per cent. Biggest Sensex gainers were Sterlite Industries (4.46%), Tata Motors (5.18%), GAIL (3.49%), Jaiprakash Associates (3.28%) and Wipro (3.01%). BPCL (-1.38%), Idea Cellular (-0.6%) and Cairn (-0.09%) were the only laggards in the 50-share index. Market breadth was extremely strong with 1723 advances against 1013 declines on the BSE.

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MARKET VIEW 10.11.2009

Equities ended volatile session on a flat note as gains in metals and were offset by realty stocks. National Stock Exchange’s Nifty closed at 4881.75, down 16.65 points or 0.34 per cent. The broader index hit a low of 4860.10 and high of 4947.70. Bombay Stock Exchange’s Sensex ended at 16436.89, down 61.83 points or 0.37 per cent. The index touched an intra-day low of 16371.66 and high of 16677.53. BSE Midcap Index was down 0.36 per cent and BSE Smallcap Index slipped 0.41 per cent. Amongst the sectoral indices, BSE Realty Index slipped 2.81 per cent and BSE Capital Goods Index fell 0.79 per cent. BSE PSU Index gained 2.11 per cent and BSE Metal Index moved 1.42 per cent higher. Biggest Nifty gainers were Tata Motors (2.7%), Ambuja Cements (2.37%), Cipla (2.24%), State Bank of India (2.02%) and BPCL (1.69%). Hero Honda (-4.46%), Bharti Airtel (-4.41%), DLF (-3.78%), Reliance Communications (-3.64%) and Hindustan Unilever (-2.86%) were the losers. Market breadth on BSE showed 1458 declines against 1282 advances.

MARKET VIEW 09.11.2009

Markets ended near day’s highs Monday after investors bought stocks from across the board. All sectoral indices ended in the green with banks, metals and oil&gas in the lead. National Stock Exchange’s Nifty ended at 4902.25, up 106.10 points or 2.21 per cent. The index touched a high of 4905.25 and low of 4789.90 in today’s trade. Bombay Stock Exchange’s Sensex closed at 16,507.71, up 349.43 points or 2.16 per cent. The 30-share index hit a high of 16517.42 and low of 16147.21. BSE Midcap Index was up 2.06 per cent and BSE Smallcap Index moved 2.23 per cent higher. Amongst the sectoral indices, BSE Bankex advanced 4.80 per cent, BSE Oil&gas Index moved 2.51 per cent and BSE Metal Index jumped 2.47 per cent. Biggest Nifty gainers were Axis Bank (6.49%), State Bank of India (5.31%), SAIL (5.16%), ICICI Bank (4.77%) and HDFC Bank (4.15%). Bharti Airtel (-3.86%), Reliance Communications (-1.77%), Ambuja Cements (-1.43%), Hindustan Unilever (-0.53%) and Sterlite Industries (-0.27%) ended with losses. Reliance Industries is close to announcing a major overseas acquisition. If all goes according to plan, RIL is looking to do so before its annual general meeting on November 17. The likely target is a part of the assets owned by troubled petrochemical major LyondellBasell, which is undergoing reorganisation under the protection of a US court. State Bank of India, the country's largest lender, said on Monday it had entered into an agreement with T Rowe Price to sell a 6.5 per cent holding each in UTI Asset Management Company and UTI Trustee Company. Market breadth was positive on the BSE with 1985 advances and 750 declines

MARKET VIEW 06.11.2009

MOST ACTIVE

Benchmarks continued their winning streak for the third straight day and ended a volatile session in the positive terrain Friday. However, second rung stocks were in the thick of trade and outperformed the main indices. Indices opened higher as sentiments were bullish on government’s plans to divest stake in public sector units. This was coupled with positive news flows from the US jobless claims which declined. But the market turned volatile as a tug-of-war resumed between the bears and bulls. In the end bulls won the fight and helped indices end above psychological supports. Bombay Stock Exchange’s Sensex closed at 16,158.28, up 94.38 points or 0.59 per cent from Thursday. The index touched an intra-day high of 16283.86 and low of 16075.19. National Stock Exchange’s Nifty ended at 4796.15, up 30.6 points or 0.64 per cent. The broader index touched a low of 4764.85 and high of 4836.20 in today’s trade. “Nifty has a stiff resistance around 4850 level (50% retracement level), a breach above this level can push the index to 20 DMA level of 4931. However on the downside, support is around 4730 & 4700. Sector specific, pharma, auto and technology look very strong. In pharma, Ranbaxy, Dr.Reddy’s Laboratories are attractive while Tata Motors & M&M are best bets in auto space. We are bullish on Wipro and Infosys in technology space. The BSE Midcap Index was up 2.27 per cent and BSE Smallcap Index moved 2.24 per cent higher. Amongst the sectoral indices, BSE PSU Index surged 3.91 per cent, BSE Realty Index was up 2.81 per cent, BSE Metal Index moved 2.03 per cent higher and BSE Bankex gained 1.75 per cent. BSE FMCG Index was up 1.75 per cent. Jaiprakash Associates (4.76%), Tata Steel (3.08%), State Bank of India (3.06%), Sterlite Industries (2.21%) and Larsen & Toubro (2.17%) were amongst the Sensex gainers. Losers included, Tata Power (-3.84%), Hindustan Unilever (-2.12%), Hero Honda (-1.98%), ITC (-1.53%) and Tata Motors (-1.06%). Market breadth was positive on the BSE with 1,944 advances and 780 declines

MARKET VIEW 05.11.2009

National Stock Exchange’s Nifty ended at 4769.20, up 58.40 points or 1.24 per cent. The index bounced back from intra-day low of 4610.60 to touch a high of 4733. Bombay Stock Exchange’s Sensex closed at 16070.21, up 158.08 points or 2.13 per cent. It touched a high of 16092.38 and low of 15564.89 in today’s trade. BSE Midcap Index was up 2.13 per cent and BSE Smallcap Index moved 1.98 per cent higher. Amongst the sectoral indices, BSE Metal Index gained 3.16 per cent, BSE Realty Index moved 2.90 per cent and BSE Power Index moved 2.60 per cent higher. Suzlon Energy (13.78%), Reliance Capital (10.25%), GAIL (6.41%), Reliance Infrastructure (6.12%) and Hindalco Industries (5.83%) were amongst the Nifty gainers. Losers included Ambuja Cement (-3.42%), State Bank of India (-1.76%), ITC (-1.28%), ACC (-1.12%) and Infosys Technologies (-0.86%). Market breadth was positive on the BSE with 1812 advances and 850 declines.

MARKET VIEW 04.11.2009

Bombay Stock Exchange’s Sensex ended at 15,912.13, up 507.19 points or 3.29 per cent. The broader index hit a high of 15929.09 and low of 15487.97 intraday. National Stock Exchange’s Nifty ended at 4710.80, up 146.90 points or 3.22 per cent. The index touched a high of 4717.80 and low of 4565 during trade. MUMBAI Indices ended their six-day losing streak by closing with huge gains on Wednesday. The rally was mostly on account of short-covering in sectors and stocks that were beaten down badly in the previous session. Positive sentiments across Europe also helped indices to gain momentum. Dealers were anticipating a pullback as the market looked in an oversold zone. However, this upmove is just seen as an opportunity to exit on rise before any deeper correction sets in. “It was a classic short covering day after a sharp fall. Anticipation of some positive comments from the US Fed meet and reports of RBI’s gold purchase deal bolstered trader sentiments after days of bear grip. However, we don’t expect the euphoric mood post Fed comments to last long and Nifty may eventually drift to 4350 The BSE Midcap Index was up 3.54 per cent and BSE Smallcap Index moved 2.18 per cent higher. Amongst the sectoral indices, BSE Realty Index surged 9.65 per cent, BSE Metal Index rallied 5.36 per cent and BSE IT Index moved 3.99 per cent higher. Jai Prakash Associates (9.42%), Hindalco Industries (9.16%), DLF (8.48%), Sterlite Industries (6.63%) and Reliance Industries (5.49%) were amongst the Sensex gainers. Sun Pharmaceuticals (-0.78%), Grasim Industries (-0.39%) and Tata Power (-0.19%) were amongst the losers. Market breadth was positive on the BSE with 1,774 advances and 946 declines. European markets were in the green on expectations the US Federal Reserve will keep interest rates low. US markets are also expected to open higher. At 5:20 pm IST, Dow Jones stock futures was up 0.64 per cent, S&P 500 gained 0.63 per cent and Nasdaq 100 moved 0.36 per cent higher.

MARKET VIEW 03.11.2009

BLOOD BATH DAY
Bombay Stock Exchange’s Sensex ended at 15,404.94, down 491.34 points or 3.09 per cent. The index hit intra-day low of 15,330.56 and high of 15,957.06. National Stock Exchange’s Nifty closed at 4,563.90, down 147.80 points or 3.14 per cent. The 50-share index fell to a low of 4,538.50 and high of 4,729.85 in today’s trade It was a blood bath on the Dalal Street Tuesday as indices ended with huge losses after an extended weekend. Benchmarks breached crucial supports before settling near the day’s lows. The worst hit in the correction were stocks from realty and metals space. Market opened lower taking cues from subdued Asian markets and lack of positive triggers back home. Analysts were expecting the Indian market to correct in order to match-up with global markets which witnessed a sell-off in the previous session. (Indian markets were shut Monday on account of Guru Nanak Jayanti). The trigger, however, came in the form of poor opening of the European markets. Traders pressed the panic button on fears that global economic recovery would come to a halt if stimulus packages are withdrawn. Some disappointing quarterly earnings also led to the sharp fall in share prices. “This fall could be just a beginning of deeper correction. Such a sharp crack below 4700 will force investors with cash to remain away. This would result in lack of support to the indices. Some minor bounce back would be seen but that should be used to exit positions. We expect the Nifty to take support at 4400 and if it fails to hold then 4100 is there on the horizon. Market will eventually find support there as stocks will look attractive at these levels. “The downtrend is very much in place and Nifty may see a trading bounce around 4450-4400. It is difficult at this time to ascertain the bottom and Nifty may slip to 4100-4200 levels. Traders should adopt sell at every rise opportunity. Realty, construction and capital goods stocks are weak and may fall further,” said Anil Manghnani, director, Modern Shares and Stock Brokers. The BSE Midcap Index was down 3.74 per cent and BSE Smallcap Index slipped 4.50 per cent. Amongst the sectoral indices, BSE Realty Index plunged 9.76 per cent, BSE Metal Index fell 5.95 per cent and BSE Oil&gas Index was down 4.10 per cent. Hindalco Industries (-10.50%), DLF (-9.04%), Jaiprakash Associates (-7.52%), Sterlite Industries (-6.40%) and ACC (-6.20%) were amongst the top Sensex losers. Index heavyweight Reliance Industries fell a massive 5.73 per cent on the BSE. “Reliance Industries is trading below its long term 100 & 200 day moving average of Rs 1978-2042 which is negative for the stock. Going forward, if the stock breaks below Rs 1910 and trades consistently then it might even fall upto Rs 1880-1835 or maximum to Rs 1730. The stock will show strength only if trades above Rs 1980.
Bharti Airtel (2.67%), Maruti Suzuki (1.13%) and Sun Pharmaceuticals (0.31%) were the only Sensex gainers. Reliance Communications reported 51.66 per cent decline in its consolidated profit at Rs 740 crore for the second quarter due to provisions for foreign exchange fluctuation or derivative losses. The company had consolidated net profit of Rs 1,531 crore in the same quarter last fiscal. The stock tumbled 6.45 per cent on the NSE. Hindalco Industries reported a 52% drop in standalone net profit for the quarter ended September, due to a sharp drop in metal prices on the London Metal Exchange. The Aditya Birla group flagship company said its net profit in the July-September period fell to Rs 344 crore from Rs 720 crore last year, while sales in the same period was down 13.4% to Rs 4,917 crore. The stock plunged 10.45 per cent. Suzlon Energy posted Rs 356-crore loss in the quarter ended September 30, 2009 compared to a Rs 22.84-crore loss posted in the same period last year, owing to lower volumes. Its total consolidated revenues, during the period, declined to Rs 4,793-crore as compared to Rs 6,921-crore a year-ago. The stock tanked 13.39 per cent on the NSE. Market breadth was negative on the BSE with 2171 declines against 534 advances. All eyes are set on the US Federal Reserve that is holding two-day meet beginning Tuesday. At 5:40 pm IST, Dow Jones stock futures was down 0.97 per cent, S&P 500 fell 1.09 per cent and Nasdaq 100 declined 0.91 per cent.

MONDAY HOLIDAY

Monday market holiday on account of Gurunanak Jayanthi
Best Wishes to all in advance on account of Gurunanak Jayanthi
COMODITY MARKET WILL BE OPEN AT 05.00 PM ON MONDAY AS OCCASSION OF GURUNANAK JAYANTHI.

MARKET VIEW THIS WEEK ended 30.10.2009

SENSEX :15896.28 -156.44

NIFTY : 4711.70 -38.85

NASDAQ : 2045.11 -52.44

RS/$ : 46.96 0.24

WEEKLY CLOSING

SENSEX :15896 -915 (-5.75%)

NIFTY: 4625 -285 (-6.06%)

The 30-share Sensex ended the day at 11,876.43, down 240.51 points, or 2%, over the previous close. The 50-share Nifty closed at 3620.70, down 63.20 points or 1.7% over the previous close. “A correction was inevitable considering the run-up in the past couple of months,” said Ajay Parmar, head of research, Emkay Share & Stock Brokers. “But the heartening aspect is that institutional investors have been steady buyers,” he said. However, foreign institutional participation on Friday was muted compared with the past few weeks. Overseas funds net-bought Rs 100 crore worth of shares, according to provisional data. Domestic institutions maintained their cautious approach, net-selling Rs 90 crore worth of shares. Banking, metal and IT shares were the worst performers, with the respective sectoral indices on BSE shedding 2-3%. Banking and metal shares have been very volatile over the past few months, as investors are worried about rising bad loans in banks’ books and weak metal prices. This has often led to steep falls in these shares, and equally dramatic recoveries when investors felt the panic may have been overdone. Wipro, Sterlite Industries, ICICI Bank, Tata Steel and Reliance Infrastructure were among the prominent losers of the day, shedding between 4-6%. Shares of automobile, capital goods and fast-moving consumer goods firms were among the best performers on a relative basis, though most of these stocks were under pressure, too. “We strongly believe that the Indian story on fundamentals in 2008 got derailed because highly-geared and negative cash flow business groups could no longer raise money in the capital market. If this fact is changed over the coming months, and Indian companies succeed in raising $10-15 billion over the next few months, even if the market was to reverse later in the year on global factors or on domestic policy tightening, corporate fundamentals could be on the way for the market to be substantially higher in 2010,” a Credit Suisse report earlier this week said.

मार्केट वीएव ३१.१०.2009

Sensex fell 7.2% in October & logged the biggest monthly fall in a year, after it closed 1% lower on FridayBombay Stock Exchange’s Sensex was trading at 16350, higher by 298 points or 1.8 per cent while National Stock Exchange’s Nifty surged 96 points or 2 per cent to 4847. “International markets are shooting up and our market will also open with a gap up in the morning, and rise further on back of short covering. We expect markets to face significant resistances on its way up as it reaches where it was this Monday. Consider 4950 in nifty and 16700 as a ceiling for now. Monday being a holiday in our markets, we will encounter another gap opening on Tuesday depending on international cues. US stocks logged their best one-day percentage gain in three months on Thursday as investors cheered US economic data which showed the economy returned to growth in the third quarter as brightening the outlook for profits. The Dow Jones Industrial Average gained 199.89 points, or 2.05 per cent, to end at 9,962.58. The Standard & Poor's 500 Index jumped 23.48 points, or 2.25 per cent, to 1,066.11 - marking its biggest one-day percentage gain in three months. The Nasdaq Composite Index shot up 37.94 points, or 1.84 percent, to close at 2,097.55. Asian markets were also on a roll tracking advances on Wall Street and as Japan’s jobless rate unexpectedly dropped. The Nikkei climbed 1.26 per cent, Topix rose 1.07 per cent, Hang Seng surged 3.13 per cent and Straits Times rallied 1.53 per cent