MARKET ENDED 13.01.2010 happy lohri

WISH U ALL A HAPPY LOHRI & MAKKAR SAKRANTII

SENSEX 17509.80 +87.29
NIFTY 5233.95 +23.55
NASDAQ 2176.05 +6.87
DJIA 10426.31 -11.11
RS/$ 46.25 -0.16

Stock indices ended a volatile session near day’s highs on Wednesday, taking support from IT, oil&gas and pharma stocks. Positive European markets and US stock futures provided support. Market opened in the red mirroring Asian peers and moved in a rangebound manner due to lack of buying activity in frontline stocks. Rate sensitive sectors were under pressure on speculation that the Reserve Bank of India may toe China’s line and hike CRR rate. IT sector continued to rise on expectations of robust results from majors like TCS and Wipro a day after Infosys Technologies reported better-than-expected Q3 earnings. Market recovered losses in the afternoon as metals and realty bounced back while banks and auto stocks pared losses.

Bombay Stock Exchange’s Sensex closed at 17509.80, up 87.29 points or 0.50 per cent. The index touched a high of 17528.31 and low of 17276.46.

National Stock Exchange’s Nifty ended at 5233.95, up 23.55 points or 0.45 per cent. The index hit a high of 5239.20 and low of 5169.55. We might see rangebound movement between 5150-5300.

Technology stocks which supported the market are expected to lead from the front. One should hold positions unless we breach the 5150 support BSE Midcap Index was up 0.6 per cent and BSE Smallcap Index moved 0.86 per cent higher. Amongst the sectoral indices, BSE IT Index was up 3.84 per cent, BSE Metal Index gained 0.74 per cent and BSE Realty Index moved 0.35 per cent higher. BSE Bankex was down 0.62 per cent and BSE Auto Index slipped 0.53 per cent. Biggest Nifty gainers were ACC (5.31%), Ambuja Cements (5.31%), Tata Consultancy Services (5.23%), Infosys Technologies (3.82%), Wipro (3.02%) and Hindalco Industries (2.63%). Losers comprised Mahindra & Mahindra (-2.91%), Sun Pharmaceuticals (-1.53%), Sterlite Industries (-1.48%), State Bank of India (-1.15%) and Bharti Airtel (-1.06%).

Market breadth on BSE showed 1694 advances against 1195 declines