makin97 NSETIPS @ RAKESH MAKIN: MARKET ENDED 15.03.2010 MONDAY

Monday, March 15, 2010

MARKET ENDED 15.03.2010 MONDAY

MARKET ENDED 15.03.2010 MONDAY

SENSEX 17164.99 -01.63

NIFTY 5128.90 -08.10

NASDAQ 2367.66 -00.80

DJIA 10624.69 +12.85

RS/$ 45.45 +00.04

Equities ended a lackluster session flat on Monday, due to lack of support from global peers. PSU and bank stocks ended in the red while IT and FMCG resisted the fall.
Market has been consolidating in a narrow range after the post budget rally. According to dealers, dearth of good news and economic issues in European nations and fears of rate tightening in China may give the bears the upper hand in coming days.
Bombay Stock Exchange’s Sensex ended at 17,164.99, down 1.63 points or 0.01 per cent. The 30-share index touched a low of 17061.14 and high of 17195.49 in today’s trade.
National Stock Exchange’s Nifty closed at 5128.90, down 8.1 points or 0.16 per cent. The broader 50-share index hit low of 5101.20 and high of 5151.05 intraday.
Indices are likely to face resistance at the 17350-17500-17800/5150-5180-5200 levels (on the Sensex / Nifty). Any surge in the indices may see profit taking around the indicated resistances. Downside supports are placed at the 16900-16800-16650/5100-5050-5000 levels.
Depending on the global cues we expect to see a recovery from the mentioned supports and the trades could be influenced by strong moves sectorally. Any move until the above mentioned resistances shall be utilized to exit from long positions and look out for a sustainable move
The BSE Midcap Index was down 0.74 per cent and BSE Smallcap Index moved 0.83 per cent lower.
Amongst the sectoral indices, BSE PSU Index was down 1.38 per cent and BSE Bankex declined 1.03 per cent. BSE IT Index gained 1.37 per cent and BSE FMCG Index added 0.74 per cent.
ABB (-3.46%), Mahindra & Mahindra (-3.23%), Suzlon Energy (-2.84%), Reliance Infrastructure (-2.62%) and ACC (-2.19%) were the biggest Nifty losers.
Hindustan Unilever (3.12%), Wipro (2.81%), Tata Consultancy Services (2.77%), HCL Technologies (2.52%) and Jaiprakash Associates (2.34%) were the gainers.
Market breadth on BSE remained negative with 1,836 declines against 987 advances.
Meanwhile, India’s headline inflation came close to double digit mark. Wholesale price inflation surged to 9.89 percent in February compared to a year ago and 8.56 percent recorded in January this year.
European markets were in the red in line with other peers and the US stocks were also expected to open lower. At 4:30 pm, Dow Jones futures was down 0.29 per cent, S&P 500 declined 0.38 per cent and Nasdaq 100 slipped 0.32 per cent.