makin97 NSETIPS @ RAKESH MAKIN: MARKET ENDED 18.05.2010TUESDAY

Tuesday, May 18, 2010

MARKET ENDED 18.05.2010TUESDAY

MARKET ENDED 18.05.2010 TUESDAY

SENSEX 16875.76 +40.20

NIFTY 5066.20 +06.30

NASDAQ 2354.23 +07.38

DJIA 10625.83 +05.67

RS/$ 45.72 +00.50

Market ended a volatile session on a flat note Tuesday, as traders booked profits near resistance levels. Gains in capital goods and FMCG space were offset by losses in metals and realty.
Market opened on a subdued note and drifted lower in line with other Asian indices. However, the benchmarks bounced back on expectations of positive opening of European peers. Buying in Larsen & Toubro continued after better-than-expected results and provided support to the indices.
Bombay Stock Exchange’s Sensex closed at 16875.76, up 40.20 points or 0.24 per cent. The index touched a high of 17000.34 and low of 16744.13 in today’s trade.
National Stock Exchange’s Nifty ended at 5066.20, up 6.6 points or 0.12 per cent. The index touched intraday high of 5105.20 and low of 5024.25.
Market is expected to remain volatile with negative bias due to lack of positive triggers. Any negative surprise from Europe can pull the Nifty down by 200 points, whereas it may move 100 points on the upside

BSE Midcap Index was up 0.42 per cent and BSE Smallcap Index moved 0.71 per cent higher.
Amongst the sectoral indices, BSE Capital Goods Index moved 1.62 per cent higher and BSE FMCG Index advanced 0.73 per cent up. BSE Metal Index was down 1.91 per cent and BSE Realty Index declined 0.55 per cent.
Larsen&Toubro (3.26%), Reliance Communications (2.40%), ONGC (2.22%), Wipro (2.21%) and Grasim (1.88%) led the Sensex upmove.
Losers included Tata Motors (-2.21%), Sterlite Industries (-1.73%), HDFC Bank (-1.49%), ICICI Bank (-1.45%) and Tata Power (-1.32%).
TPC has said it would honour the state’s request to supply 200mw to Reliance Infra at the regulated price of RS 4.40 per unit till June 30, 2010.
Market breadth was positive on the BSE with 1,641 gainers against 1,181 losers.
European market moved higher led by banks and commodities and US stocks are also expected to open in the green. At 5:30 pm IST, Dow Jones futures was up 0.45 per cent, S&P 500 futures edged 0.57 per cent higher and Nasdaq 100 gained 0.59 per cent.