MARKET ENDED 17.12.2009

NICELY PERFORM BOTH TODAY

SENSEX 16894.25 -18.52
NIFTY 5041.75 -0.30
NASDAQ 2176.05 6.87
DJIA 10426.31 -11.11
RS/$ 46.25 -0.16

Equity benchmarks ended on subdued note in the negative territory Thursday, due to lack of triggers to direct the market. Realty, oil&gas and capital goods led the decline while pharma and IT stocks bucked the trend

The spotlight was more on the war between the BSE and NSE for volumes and the angry voices of brokers against implementing extended trade timingsfromFriday.

The National Stock Exchange’s Nifty ended flat at 5041.75, down 0.30 points or 0.01 per cent. The broader index hit a low of 5013.15 and high of 5064.20.

Bombay Stock Exchange’s Sensex ended marginally lower at 16894.25, down 18.52 points or 0.11 per cent. The index touched an intra-day low of 16826 and high of 16979.52. Market will remain range bound between 4930/4950 – 5150/5180 at least for the next two weeks. Traders should take stock specific approach and book profits as high as 4 per cent and try to enter at lower levels. The BSE Midcap Index was up 1.09 per cent and BSE Small cap Index moved 0.88 per cent higher. Amongst the sect oral indices, BSE Realty Index was down 1.11 per cent, BSE Oil gas slipped 0.59 per cent and BSE Capital Goods Index declined 0.31 per cent. BSE Healthcare Index was up 1.44 per cent and BSE IT Index gained 0.87 per cent. HCL Technologies (4.28%), Jaiprakash Associates (3.60%), Cipla (3.46%), Suzlon Energy (2.35%) and TCS (1.65%) were amongst the top Nifty gainers. HCL AXON, a division of HCL Technologies, has signed a five-year global IT services deal with pharma company GlaxoSmithKline. Under the agreement, HCL AXON will provide systems integration, SAP implementation and IT consulting services to GSK globally. Losers pack included DLF (-4.15%), Unitech (-2.55%), BPCL (-2.05%), SIEMENS (-1.65%) and L&T (-1.61%) were amongst the losers.

Market breadth was positive on the BSE with 1628 advances against 1173 declines. Meanwhile, the BSE and NSE postponed the implementation of new trade timings to January 4, 2010 from December 18, 2009, giving the broking fraternity some respite. On Friday, the bourses were to open for trade at 9:00 am instead of the usual 9:55 am and close at the usual time of 3:30 pm. In trying to wrest volumes away from NSE, on Wednesday the BSE announced advancement of trade timing by 10 minutes to 9:45 am. In reaction, NSE said it would start trade at 9:00 am. However, the decision met with strong opposition from the brokering fraternity. We welcome this move by the stock exchanges of postponing the implementation of extended trading hours for the market, considering the large scale apprehensions that have been associated with the same. While many large brokers are geared up for the additional trading hour, we believe that it is necessary that the whole market should be geared up for the same. The postponement will give the market participants, time to put the infrastructure in place and manage the extended trading hours with full planning&preparation. Elsewhere,

European markets were down following weakness in banking stocks and US stock futures also indicated a lower opening. At 5:15 pm IST, Dow Jones stock futures was down 0.53 per cent, S&P 500 moved 0.68 per cent lower and NASDAQ 100 declined 0.72 per cent.

Click to join makin97NSEtips

RAKESH MAKIN
Chugh securities Pvt Ltd
+91 9915684997, 9041667797
PANCHKULA (Haryana).
Email:makin_97@yahoo.com
Email:rakeshmakin@yahoo.com
Blog :http://wwwmakin97-nse.blogspot.com/
Home page: http://in.groups.yahoo.com/group/makin97NSEtips
Group mail id: makin97NSEtips@yahoogroups.co.in