WERE NIFTY GAINERS
MARKET ENDED 08.07.2010 THURSDAY
SENSEX 17651.73 +180.70
NIFTY 5296.85 +55.75
NASDAQ 2159.47 +65.59
DJIA 10018.28 +274.66
RS/$ 47.01 -0.12
Equities ended on a positive note on Thursday as risk appetite in global markets returned ahead of earnings seasons. All the sectoral indices ended in the green led by realty, IT and metals.
Market opened with a gap-up tracking gains in the US and indices moved above psychological resistance levels. Positive opening of European peers also boosted sentiments. However, the upmove was cut short in the last half hour as traders booked profits.
National Stock Exchange’s Nifty closed at 5296.85, up 55.75 points or 1.06 per cent. The index touched a high of 5320.50 and low of 5242.
Bombay Stock Exchange’s Sensex ended at 17651.73, up 180.70 points or 1.03 per cent. The index hit intraday high of 17728.37 and low of 17536.48.
Market is expected to remain rangebound between 5200 and 5400. Earning season will be the trigger for any directional move. If the index heavyweights report good numbers then immediate resistance of 5400 will be broken and we may see 5650. On the downside, if the index fails to hold 5200 then 5000 can be seen
BSE Midcap Index was up 0.88 per cent and BSE Smallcap Index moved higher by 0.64 per cent.
Amongst the sectoral indices, BSE Realty Index moved 1.61 per cent higher, BSE IT Index advanced 1.46 per cent and BSE Metal Index gained 1.36 per cent.
Gainers pack included BPCL (6.44%), Sterlite Industries (3.39%), GAIL (2.68%), Unitech (2.41%) and SBI (2.08%).
ACC (-1.83%), Sun Pharma (-1.57%), Reliance Infra (-1%), Power Grid (-0.68%) and Reliance Power (-0.63%) were amongst the losers.
Market breadth was positive on the NSE with 1889 gainers against 1264 losers.
European markets rallied in line with peers and ahead of ECB meet whereas the stocks futures indicated a weak start for the US. At 5:15 pm IST, Dow Jones futures was down 0.07 per cent, Nasdaq moved 0.18 per cent and S&P 500 slipped 0.17 per cent.
Regards,
RAKESH MAKIN
Chugh securities Pvt Ltd
+91 9915684997,9041667797(DIRECT)
OFF 0172-4657997
PANCHKULA (Haryana).
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