makin97 NSETIPS @ RAKESH MAKIN: MARKET ENDED 03.05.2010 MONDAY

Monday, May 3, 2010

MARKET ENDED 03.05.2010 MONDAY

WERE TODAYS GAINERS

MARKET ENDED 03.05.2010 MONDAY

SENSEX 17386.08 -172.63

NIFTY 5222.75 -55.25

NASDAQ 2461.19 -50.73

DJIA 11008.61 -158.71

RS/$ 44.44 -00.13

Indices ended deep in the red Monday, as sentiments across global markets turned bearish following fraud case against Goldman Sachs, Greece economic concerns and CRR hike by China.
Market opened in the red and slipped lower due to lack of buying. Non-ferrous metals were under pressure on concerns that rate hike in China would result in lower consumption.
As major Asian markets were shut due to public holiday, weak opening in Europe resulted in heavy profit booking. Later, benchmarks took support at psychological supports but ended near day’s lows.
Bombay Stock Exchange’s Sensex closed at 17386.08, down 172.63 points or 0.98 per cent. The index touched intra-day low of 17345.92 and high of 17536.86.
National Stock Exchange’s Nifty ended at 5222.75, down 55.25 points or 1.05 per cent.

The index touched a low of 5210.05 and high of 5278.70 in today’s trade.
Indices are likely to face resistance at the 17650-17800-18000/5310-5350-5400 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 17350-17200-17050/5250-5220-5200 levels.
Depending on the global cues we expect to see an upward movement from the mentioned supports and trade could be influenced by strong moves sectorally. Any move until the said resistances shall be utilised to exit from long positions and look out for a sustainable move

BSE Midcap Index was down 0.40 per cent and BSE Smallcap Index slipped 0.33 per cent.
Amongst the sectoral indices, BSE Metal Index was down 1.74 per cent, BSE IT Index slipped 1.28 per cent and BSE Capital Goods Index declined 1.06 per cent.
Reliance Infrastructure (-3.01%), Hindalco (-2.75%), Sterlite Industries (-2.40%), Hindustan Unilever (-2.20%) and Tata Motors (-1.98%) led the Sensex decline.
Shares of Glenmark Pharma ended 3.28 per cent higher after the company announced that it has entered into licencing agreement with Sanofi Aventis. The company will receive upfront payment of $20 million. Glenmark said total milestone payments could reach $325 million.
HDFC reported 26.31 per cent rise in net profit to Rs 926.38 crore for the January-March quarter against net profit of Rs 733.37 crore a year ago. Total income declined to Rs 2,899.32 crore for the quarter ended March 31, from Rs 3,153.61 crore of the corresponding period a year earlier. The board has approved the subdivision of the company's shares in the ratio of 1:5, that is one share of Rs 10 will be slit into 5 shares of Rs 2 each. The scrip, however, ended at 0.58 per cent lower on the BSE.
Gainers included Hero Honda (0.86%), Reliance Communications (0.24%), Maruti Suzuki (0.20%), Wipro (0.18%) and TCS (0.13%).
Market breadth was negative on the BSE with 875 declines against 424 advances.