MARKET ENDED 23.02.2010

MARKET ENDED 23.02.2010 TUESDAY

SENSEX 16286.32 +49.27

NIFTY 4870.05 +13.65

NASDAQ 2242.03 -1.84

DJIA 10383.80 -18.97

RS/$ 46.16 +0.31

Equity benchmarks ended a choppy session on a higher note Tuesday ahead of budget and February F&O expiry. Losses in auto, oil&gas and PSU stocks were offset by gains in realty, metals and healthcare space. Positive start to European markets also provided support to the indices.Indices opened lower in the backdrop of negative Asian markets. However, the fall was less severe and benchmarks pulled back while broader markets reeled under selling pressure. According to dealers, rollovers have been comparatively lower than previous months indicating apprehension of traders to carry forward positions to next series.On the higher side, Nifty is witnessing selling pressure around 4900-4930 levels whereas buying interest emerges around 4750-4780 levels. Now only a breakout on either side may give future direction to the market.

If Nifty sustains above 4930 then an upmove towards 5050 levels may be seen. On the downside, if the index falls below 4780 levels then selling pressure may push Nifty to recent lows of 4675 levels or even lower.

For next few days, our market will be highly volatile ahead of Union Budget 2010 and February month F&O expiry. Traders are advised to be stock specific, keep positions light or even hedge their portfolio by stock or index options

National Stock Exchange’s Nifty ended at 4870.05, up 13.65 points or 0.28 per cent. The broader index hit a high of 4884.10 and low of 4833.15.

Bombay Stock Exchange’s Sensex closed at 16286.32, up 49.27 points or 0.30 per cent. The index touched a high of 16324.93 and low of 16178.91.

BSE Midcap Index moved 0.59 per cent lower and BSE Smallcap Index slipped 0.92 per cent.

Amongst the sectoral indices, BSE Realty Index gained 0.96 per cent, BSE Metal Index moved 0.72 per cent up and BSE Healthcare Index advanced 0.66 per cent. BSE Auto Index slipped 1.82 per cent and BSE Oil&gas Index declined 0.41 per cent.

Sun Pharma (2.37%), DLF (1.67%), ICICI Bank (1.64%), Sterlite Industries (1.58%) and HDFC (1.29%) were amongst the top Nifty gainers.

Losers included Maruti (-3.24%), Reliance Infrastructure (-1.32%), Mahindra&Mahindra (-1.25%), Hero Honda (-0.87%) and Tata Motors (-0.83%).

The government has approved a proposal by UK retail major Mothercare to invest Rs 25.87 crore for 30 per cent stake in a joint venture with DLF Brands.

Market breadth was negative on the BSE with 1924 declines and 889 advances.

Meanwhile, European markets slipped into the red led by banks and the US markets is also expected to open lower. At 5 pm IST, Dow Jones futures was down 0.32 per cent, S&P 500 slipped 0.34 per cent and Nasdaq 100 declined 0.45 per cent.

Regards,

RAKESH MAKIN

Chugh securities Pvt Ltd

+91 9915684997,9041667797(DIRECT)

OFF 0172-4657997

PANCHKULA (Haryana).

Email:makin_97@yahoo.com

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