NIFTY GAINERS
MARKET ENDED 11.03.2010 THURSDAY
SENSEX 17167.96 +69.63
NIFTY 5133.40 +17.15
NASDAQ 2358.95 +15.97
DJIA 10567.33 +2.95
RS/$ 45.41 +0.13
A directionless market saw equity benchmarks flip-flop through the session Thursday. However, the last half hour of trade witnessed some amount of buying activity in the frontline space which drove the indices higher.
The market will continue to be lacklustre. Investors are awaiting IIP data for January and quarterly advance tax numbers due later this month which could offer some cues,
The Index of Industrial Production data, scheduled to be announced Friday, is expected to continue to point towards double digit growth. Meanwhile, according to government data released today, the country’s food price index rose 17.81 per cent in the 12 months to February 27, while the fuel price index was up 11.38 per cent. The rise in the food price index was marginally lower than an annual rise of 17.87 per cent in the previous week.
National Stock Exchange’s Nifty settled at 5133.40, higher by 0.34 per cent or 17.15 points from its previous close. The index remained in a range of 5152.60 and 5102.10
Bombay Stock Exchange’s Sensex ended at 17,167.96, up 69.63 points or 0.41 per cent. The index touched a high of 17,215.07 and low of 17,054.28 intraday.
Technically, Nifty is facing strong resistance around 5150 levels; traders are advised to book profits at higher levels. Now only if Nifty sustains above 5150 levels then we may see recovery till 5200-5250 levels. On the downside, if it sustains below 5050 levels then it may witness selling pressure till 5000-4950 levels. Reversal of the short term positive trend could be seen below 4850 levels
However, the broader market ended with marginal losses. The BSE Midcap Index was down 0.15 per cent while BSE Smallcap Index lost 0.5 per cent.
On a sector-specific note, BSE IT Index gained 1 per cent, followed by BSE Bankex up 0.69 per cent. After remaining in the positive terrain for a major part of the day, BSE Realty Index lost steam and ended 0.18 per cent lower. BSE Auto shed 0.95 per cent and BSE Metal fell 0.33 per cent.
Nifty gainers were ABB (3.16%), Sun Pharmaceuticals (3.12%), GAIL (2.66%), Bharti Airtel (2.4%) and Wipro (2.33%).
Hindustan Unilever (-4.38%), Idea Cellular (-2.12%), Power Grid (-1.92%), Hero Honda (-1.62%) and Jindal Steel (-1.31%) were the losers.
Market breadth on BSE was negative on account of the selling activity in the broader market with 1,773 declines against 1,063 advances.
Regards,
RAKESH MAKIN
Chugh securities Pvt Ltd
+91 9915684997,9041667797(DIRECT)
OFF 0172-4657997
PANCHKULA (Haryana).
Email:makin_97@yahoo.com
Blog :http://wwwmakin97-nse.blogspot.com/
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