makin97 NSETIPS @ RAKESH MAKIN: MARKET ENDED 26.05.2010 WEDNESDAY

Wednesday, May 26, 2010

MARKET ENDED 26.05.2010 WEDNESDAY

WERE SENSEX GAINERS

MARKET ENDED 26.05.2010 WEDNESDAY

SENSEX 16387.84 +365.36

NIFTY 4917.40 +110.65

NASDAQ 2210.95 -02.60

DJIA 10043.75 -22.82

RS/$ 47.40 +00.73

Indian stock market indices ended near the day’s high Wednesday, on short-covering ahead of May F&O series expiry. All the sectoral indices ended in the green led by IT, realty and metals.
The equity benchmarks opened gap-up after a late bounce back on Wall Street, and got further support from positive Asian and European markets.
According to analysts, market was in an oversold territory and is likely to see some more short-covering in a volatile session on Thursday. F&O rollovers have been below average and are expected to pick-up in next session.
National Stock Exchange’s Nifty ended at 4,917.40, up 110.65 points or 2.30 per cent. The 50-share index recorded a high of 4,925.45 from the opening level of 4,807.30.
Bombay Stock Exchange’s Sensex closed at 16,387.84 gaining 365.36 points or 2.28 per cent. The index touched a high of 16,410.35 from the low of 16,069.78.
Most of the short covering in index heavyweights was on relatively low volumes, indicating that the strength won’t sustain for too long. Moreover, the rollovers were on the short-side. We expect the upside to be capped around 5,000-5,050 and Nifty may take support between 4,800-4,600

BSE Midcap Index was up 1.48 per cent and BSE Smallcap Index moved 1.68 per cent higher.
Amongst the sectoral indices, BSE IT Index gained 3.48 per cent, BSE Realty Index advanced 3.01 per cent and BSE Metal Index moved 2.98 per cent higher.
Hindalco Industries (7.30%), TCS (5.36%), Tata Motors (5.28%), Jaiprakash Associates (5.17%) and ICICI Bank (4.72%) were the top Sensex gainers.
Grasim (-20.52%), Reliance Communications (-2.56%), ACC (-1.34%) BHEL (-0.36%) and Maruti Suzuki (-0.23%) were the top losers.
Market breadth was positive on the BSE with 1,886 advances and 901 declines.
Meanwhile, Europe showed strength led by banks and commodities. US stock futures, too, indicated a positive opening. At 5:10 pm, IST, Dow Jones futures was up 0.77 per cent, S&P 500 futures gained 0.89 per cent lower and Nasdaq 100 moved 0.84 per cent higher.