makin97 NSETIPS @ RAKESH MAKIN: MARKET ENDED 04.03.2010 THIRSTY THURSDAY

Thursday, March 4, 2010

MARKET ENDED 04.03.2010 THIRSTY THURSDAY

NIFTY GAINERS

MARKET ENDED 04.03.2010 THURSDAY

SENSEX 16971.70 -28.31

NIFTY 5080.25 -7.85

NASDAQ 2280.68 -0.11

DJIA 10396.76 -9.22

RS/$ 45.83 +0.19

Equity benchmarks ended a three-day winning streak Thursday as profit booking emerged after a sharp post-budget rally. Meanwhile, traders continued to pick up stocks from midcap and smallcap space.
Indices opened lower and turned choppy with a negative bias. Gains in realty, metals and FMCG stocks were offset by IT, auto and oil&gas space. Lack of buying in other global indices also dampened sentiments. However, experts are of the view that the market is taking a breather and the bull-run is likely to continue.
Overall the market trend is positive and we expect Nifty to test the 5160 level after the sideways movement is over. The index has strong support at 4950-4900 levels. Banks, metal continue to be positive. HDFC Bank, Tata Motors and M&M look positive in the frontline space. In the midcap segment, IFCI, REC, Titan Industries and GMDC have given a positive breakout.
National Stock Exchange’s Nifty ended at 5080.25, down 7.85 points or 0.15 per cent. The index hit intraday low of 5049 and high of 5096.95.
Bombay Stock Exchange’s Sensex closed at 16971.70, down 28.31 points or 0.17 per cent. The broader index hit intraday high of 17024.96 and low of 16888.05.
BSE Midcap Index gained 0.78 per cent and BSE Smallcap Index moved up 0.81 per cent.
Amongst the sectoral indices, BSE IT Index was down 1.03 per cent, BSE Oil&gas Index slipped 0.63 per cent and BSE Bankex declined 0.20 per cent. BSE Realty Index was up 2.50 per cent and BSE Metal Index gained 1.56 per cent.
Nifty losers were Axis Bank (-2.25%), Hindalco Industries (-1.66%), Maruti Suzuki (-1.51%), Infosys Technologies (-1.51%), and Cairn India (-1.43%).
Biggest gainers were SAIL (4.59%), Suzlon (4.17%), Unitech (3.55%), Reliance Communications (2.21%) and DLF (1.89%).
Market breadth on BSE remained positive with 1690 advances against 1154 declines.