MARKET ENDED 16.03.2010 TUESDAY
SENSEX 17383.18 +218.19
NIFTY 5198.10 +69.20
NASDAQ 2362.21 -05.45
DJIA 10642.15 +17.46
RS/$ 45.58 -00.13
Equity benchmarks broke out in the last one hour of trade on Tuesday and ended above crucial resistance levels helped by heavyweights like Reliance Industries and Larsen & Toubro. Positive opening of
Bombay Stock Exchange’s Sensex ended at 17,383.18, higher by 218.19 points or 1.27 per cent. The 30-share index touched a high of 17416.55 from the day’s low of 17150.06.
National Stock Exchange’s Nifty closed at 5198.10, up 69.2 points or 1.35 per cent. The index crossed the 5200 mark for the first time since January 21. The 50-share index touched an intraday high of 5209.25 bouncing off a low of 5125.70.
The bias is bullish but today’s break-out may not sustain and we may consolidate in coming sessions. Nifty has strong support around 5160-5100 and if that is broken the next major support is 5000. On the upside, it faces resistance at 5270-5300BSE Midcap Index settled 1.08 per cent higher and BSE Smallcap Index moved up 1.28 per cent.
Amongst the sectoral indices, BSE Oil&gas Index was up 2.78 per cent, BSE Metal Index gained 1.73 per cent and BSE Capital Goods moved up 1.69 per cent. BSE PSU Index and BSE FMCG Index declined 0.04 per cent each.
Biggest contributors to Nifty’s rise were Idea Cellular (5.71%), Reliance Industries (4.08%), Sun Pharmaceuticals (3.5%), Larsen & Toubro (3.45%) and BPCL (3.37%).
Bharti Airtel (-1.5%), ACC (-1.37%), HDFC Bank (-0.7%), Jaiprakash Associates (-0.37%) and Wipro (-0.23%) ended with losses.
Market breadth was positive with 1818 advances against 1025 declines.
European markets were in the positive terrain led by gains in banks.
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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