MARKET ENDED 28.04.2010 WEDNESDAY

TODAY'S INDEX GAINERS

MARKET ENDED 28.04.2010 WEDNESDAY

SENSEX 17380.08 -310.54

NIFTY 5215.45 -92.90

NASDAQ 2471.47 -51.48

DJIA 10991.99 -213.04

RS/$ 44.45 +00.12

Equities ended in the negative territory Wednesday mirroring losses in other global markets after the Standard & Poor’s downgraded Greece’s rating to junk and lowered Portugal by two notches. The fall was led by index heavy-weight Reliance Industries and other frontline metal stocks.

Indices opened in the red and drifted lower on uncertainties in the global markets. However, the selling pressure intensified following negative opening of the European markets. Benchmarks fell to psychological support levels and recovered marginally towards the end of session.

Bombay Stock Exchange’s Sensex closed at 17,380.08, down 310.54 points or 1.76 per cent. The index touched intraday low of 17344.58 and high of 17643.59.

National Stock Exchange’s Nifty ended at 5215.45, down 92.90 points or 1.75 per cent. The index touched a low of 5202.45 and high of 5308.25 in today’s trade.

BSE Midcap Index was down 1.6 per cent and BSE Smallcap Index moved 2.05 per cent lower.

All the sectoral indices ended in the red. BSE Realty Index fell 3.61 per cent, BSE Oil&gas Index declined 2.72 per cent and BSE Metal Index was down 2.21 per cent.

Mukesh Ambani owned Reliance Industries tanked after the Citigroup downgraded the stock to ‘Hold’ after disappointing results. Most analysts are of the view that RIL may trade sideways near term whereas long term is still positive.

In addition to that, according to media reports, the Supreme Court verdict on RIL-RNRL gas dispute may be out in a week’s time. The Bombay High Court has already ruled out the verdict in the favour of Anil-Ambani owned RNRL.

SAIL (-4.57%), Jaiprakash Associates (-4.42%), RIL (-4.02%), Unitech (-3.86%) and Tata Steel (-3.58%) led the Nifty decline.

Reliance Industries has closed below its 200 DMA after a long time. We are expecting further correction in the stock and it may fall to Rs 950 levels.

Sun Pharmaceuticals (1.08%), ABB (1.06%), State Bank of India (0.91%), ACC (0.85%) and IDFC (0.76%) were the index gainers.

Market breadth was negative on the BSE with 2176 declines against 720 advances.

European markets were reeling under pressure while the US stock futures suggested a positive start after the sell-off. At 4:45 pm IST, Dow Jones futures was up 0.11 per cent, S&P 500 advanced 0.14 per cent and Nasdaq 100 gained 0.19 per cent.

Regards,

RAKESH MAKIN

Chugh securities Pvt Ltd

+91 9915684997,9041667797(DIRECT)

OFF 0172-4657997

PANCHKULA (Haryana).

Email:makin_97@yahoo.com

Email:rakeshmakin@yahoo.com

Blog :http://wwwmakin97-nse.blogspot.com/

PERF: http://makin97researchservices.blogspot.com/

Home page: http://in.groups.yahoo.com/group/makin97NSEtips

Group mail id: makin97NSEtips@yahoogroups.co.in