makin97 NSETIPS @ RAKESH MAKIN: MARKET ENDED 14.07.2010 WEDNESDAY

Wednesday, July 14, 2010

MARKET ENDED 14.07.2010 WEDNESDAY

WERE SENSEX GAINERS

MARKET ENDED 14.07.2010 WEDNESDAY

SENSEX 17938.16 -47.74

NIFTY 5386.15 -14.50

NASDAQ 2242.03 +43.67

DJIA 10363.02 +146.75

RS/$ 46.93 -00.20

Equities ended a four-day winning streak Wednesday as traders booked profits at higher levels. Weakness in European peers also dented sentiments. The decline was led by IT and metals while capital goods and banks showed resistance.
Benchmarks opened on a positive note and moved higher on the back of positive cues from Asian peers but failed to sustain above psychological levels and drifted lower as the session progressed.
Frontline stocks that supported the upmove in past sessions gave in to selling pressure. We expect the market to remain rangebound between 5350 and 5425-5475 in next 4-5 days.
One should restrict trades at current levels and take stock specific approach. L&T and REC are looking positive.
National Stock Exchange’s Nifty ended at 5386.15, down 14.50 points or 0.87 per cent. The broader index hit a high of 5453.45 and low of 5371.70.
Bombay Stock Exchange’s Sensex closed at 17938.16, down 47.74 points or 0.27 per cent. The index touched a high of 18167.22 and low of 17897.26.
BSE Midcap Index was down 0.46 per cent and BSE Smallcap Index moved lower by 0.26 per cent.
Amongst the sectoral indices, BSE Capital Goods Index was up 1.13 per cent and BSE Bankex advanced 0.28 per cent. BSE IT Index was down 1.35 per cent and BSE Metal Index slipped 0.91 per cent lower.
Larsen&Toubro (2.49%), SBI (1.50%), HDFC Bank (1.11%), DLF (1.08%) and Hero Honda (0.77%) and were amongst the top Sensex gainers.
The gains in L&T can be attributed to the engineering company bagging the Hyderabad Metro Rail project worth Rs 12,132 crore.
M&M (-2.44%), Infosys Technologies (-2.42%), Wipro (-1.89%), ACC (-1.75%) and Cipla (-1.70%) were amongst the losers.
Market breadth was negative on the BSE with 1657 declines against 1261 advances.
European markets were in the red while the US indices are expected to open higher. At 4:50 pm IST, Dow Jones futures was up 0.20 per cent, Nasdaq 100 gained 0.68 per cent and S&P 500 moved higher by 0.19 per cent..