MARKET ENDED 26.04.2010 MONDAY

Were Todays GAINERS

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MARKET ENDED 26.04.2010 MONDAY

SENSEX 17745.28 +51.08

NIFTY 5322.45 +18.35

NASDAQ 2519.07 +14.46

DJIA 11134.29 +09.37

RS/$ 44.45 -00.04

Equities ended a choppy session in the positive Monday, on the back of gains in metals, banks and IT stocks. According to analysts, the market is likely to remain range bound and witness volatility this week owing to expiry of April F&O series.

Bombay Stock Exchange’s Sensex ended at 17,745.28, up 51.08 points or 0.29 per cent. The index touched a high of 17826.48 and low of 17692.26 intraday.

National Stock Exchange’s Nifty closed at 5322.45, up 18.35 points or 0.35 per cent. The index touched a high of 5342.35 and low of 5299.35 during the session.

Indices are likely to face resistance at 17800-18000-18100/5350-5380-5400 levels (on Sensex and Nifty respectively). Any surge in the indices may see profit taking around the indicated resistances. Downside supports are placed at the 17350-17200-17050/5200-5150-5100 levels.

Depending on the global cues we expect to see an upward movement from the mentioned supports and the trade could be influenced by strong moves sectorally.

BSE Midcap Index was up 0.59 per cent and BSE Smallcap Index moved 0.49 per cent higher.

Amongst the sectoral indices, BSE Metal Index was up 2.34 per cent, BSE PSU Index gained 0.6 per cent and BSE Bankex moved 0.56 per cent higher. BSE Realty Index slipped 1.63 per cent and BSE Oil&gas Index declined 0.95 per cent.

Stock specific action was seen in companies that reported quarterly earnings. Sterlite Industries’ Q4 consolidated net profit rose to Rs 1,380.90 crore while total income increased to Rs 7,776.40 crore for the quarter ended March 31, 2010.

Maruti Suzuki reported 170 per cent rise in net profit at Rs 656 crore for quarter ended March against Rs 243 crore a year ago. The total income increased by 30.06 per cent to 8,503.52 crore from Rs 6,538.34 crore.

Biggest Nifty gainers were Sterlite Industries (5.8%), HDFC (3.91%), Axis Bank (3.33%), Hindalco Industries (3.31%) and Jindal Steel (2.51%).

Losers comprised Sun Pharmaceuticals (-4.39%), DLF (-2.99%), Ranbaxy Laboratories (-2.4%), Maruti Suzuki (-2.23%) and ABB (-1.82%).

Sun Pharma had twin blow over the weekend. In the first case, a New Jersey jury ruled that Wyeth’s patent on Protonix is valid and Sun and Teva Pharma has infringed the patent by launching the drug at risk. In another development, a district court asked Sun Pharma to stop selling the generic version of Eloxatin by June 30, 2010 which it has launched on 12th March 2010 in the US.

Market breadth on BSE showed 1555 advances against 1325 declines.

Meanwhile, the European markets were in the green and US indices were also likely to open higher. At 4:45 pm IST, Dow Jones futures was up 0.17 per cent, S&P 500 gained 0.14 per cent and Nasdaq moved 0.01 per cent higher.

Regards,

RAKESH MAKIN

Chugh securities Pvt Ltd

+91 9915684997,9041667797(DIRECT)

OFF 0172-4657997

PANCHKULA (Haryana).

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