MARKET ENDED 11.05.2010 TUESDAY

WERE TODAYS NIFTY GAINERS

MARKET ENDED 11.05.2010 TUESDAY

SENSEX 17141.53 -189.02

NIFTY 5136.15 -57.45

NASDAQ 2402.29 -21.96

DJIA 10868.12 -58.65

RS/$ 44.58 +00.18

Tracking overseas markets, Indian stocks ended with losses Tuesday as euphoria over the European Union rescue plan fizzled out. Investors booked profits across the board with metals, realty and pharma the worst hit.

Indices opened on a subdued note due to lack of buying at higher levels and lacklustre Asian markets. Selling intensified with negative opening of Europe and the indices touched day’s lows towards end of the session.

According to analysts, all is not well in Europe and more bad news is likely as it had happened during the Lehman Brothers crisis.

The rally was a knee-jerk reaction post rescue plan in Europe. We are expecting more bad news flow from that region. Our market is likely to remain choppy throughout May. We are headed back to 4900-5000 levels (on Nifty) and consolidate in that region. Some stabilization may be seen June onwards

Bombay Stock Exchange’s Sensex ended at 17141.53, down 189.02 points or 1.09 per cent. It touched a high of 17379.15 and low of 17104.45 in today’s trade.

National Stock Exchange’s Nifty closed at 5136.15, down 57.45 points or 1.11 per cent. It touched intra-day high of 5206.70 and low of 5126.50.

BSE Midcap Index was down 0.99 per cent and BSE Smallcap Index declined 0.85 per cent.

Amongst sectoral indices, BSE Metal Index was down 2.57 per cent, BSE Realty Index declined 2.43 per cent and BSE Healthcare Index slipped 1.59 per cent.

Losers included Idea Cellular (-5.24%), Reliance Infrastructure (-4.98%), Reliance Communications (-4.83%), Hindalco Industries (-3.76%) and Tata Steel (-3.65%).

Mahindra and Mahindra (1.33%), Axis Bank (0.76%), HDFC Bank (0.72%), Hero Honda (0.29%) and PNB (0.19%) were amongst the Nifty gainers.

Market breadth was negative on the BSE with 1756 declines against 1093 gainers.

Meanwhile, European markets were in the red as profit booking emerged in financials. FTSE 100 was down 1.31 per cent and CAC 40 slipped 1.84 per cent. US markets are also expected to open lower. At 5 pm IST, Dow Jones futures was down 0.85 per cent, S&P 500 futures slipped 1.06 per cent and Nasdaq 100 declined 0.95 per cent.

Regards,

RAKESH MAKIN

Chugh securities Pvt Ltd

+91 9915684997,9041667797(DIRECT)

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PANCHKULA (Haryana).

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