WERE TODAYS SENSEX GAINERS
MARKET ENDED 09.06.2010 WEDNESDAY
SENSEX 16657.89 +40.79
NIFTY 5000.30 +13.20
NASDAQ 2170.57 -03.30
DJIA 9939.98 +123.49
RS/$ 46.95 +00.15
Equities ended on a positive note Wednesday, after a day of choppy trade. Gains in metals and healthcare space were offset by losses in FMCG and IT stocks.
Indices opened in the green and turned lacklustre due to lack of triggers from global or domestic front. Positive opening of the European markets saw the benchmarks touching crucial resistance levels. However, the upmove was short-lived as traders, wary of sharp volatility globally, booked profits.
According to analysts, the mood in market is on the bearish side and any negative newsflow could lead to sharp correction in coming sessions. Timely onset of monsoon can lend some support to the indices.
Bombay Stock Exchange’s Sensex closed at 16657.89, up 40.79 points or 0.25 per cent. The index touched a high of 16817.69 and low of 16591.26.
National Stock Exchange’s Nifty ended at 5000.30, up 13.20 points or 0.26 per cent. The index hit a high of 5050.60 and low of 4980.10 in today’s trade.
Markets have become friendly for day-traders due to volatility in global equities. If overseas markets are positive and if Nifty (spot) stays above 5030 then one can go long for 5070-5065.
If the global markets are down and the Nifty is below 4980 then one should go short for target of 4960-4930
The BSE Midcap Index closed higher by 0.48 per cent and BSE Smallcap Index moved up 0.29 per cent.
Amongst the sectoral indices, BSE Metal Index moved 1.54 per cent higher and BSE Healthcare Index gained 1.36 per cent. BSE FMCG Index fell 2.41 per cent.
Bharti Airtel (5.57%), Sterlite Industries (3.31%), ONGC (2.22%), Tata Steel (2.20%) and ACC (1.99%) were the top Sensex gainers.
Losers included ITC (-4.19%), Tata Power (-2.32%), Wipro (-2.12%), TCS (-1.96%) and Tata Motors (-1.09%).
Bharti Airtel shares bounced back a day after the company successfully concluded its $10.7 billion deal to acquire the African assets of Kuwait's Zain, making it the world's fifth largest mobile phone services company.
Shares of FMCG major ITC were under pressure due to adjustments after the company went ex-dividend. ITC announced final dividend of Rs 4.50 per share and special centenary dividend of Rs 5.50 per share.
Market breadth was positive on the BSE, with 1,481 advances and 1,285 declines
European markets were choppy while US stocks indicated a positive start. At 4:30 pm, IST, Dow Jones futures was up 0.11 per cent, S&P 500 moved 0.12 per cent higher and Nasdaq 100 inched 0.07 per cent higher.
Regards,
RAKESH MAKIN
Chugh securities Pvt Ltd
+91 9915684997,9041667797(DIRECT)
OFF 0172-4657997
PANCHKULA (Haryana).
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