makin97 NSETIPS @ RAKESH MAKIN: MARKET ENDED 16.07.2010 FRIDAY WEEK END

Friday, July 16, 2010

MARKET ENDED 16.07.2010 FRIDAY WEEK END

WERE NIFTY GAINERS

MARKET ENDED 16.07.2010 FRIDAY

SENSEX 17955.82 +46.36

NIFTY 5393.90 +15.15

NASDAQ 2249.08 -00.76

DJIA 10359.31 -07.41

RS/$ 46.63 +00.30

Equities ended a lacklustre session on a positive note on Friday. Lack of cues from global peers prevented the bulls from breaching the resistance levels. The broader markets continued to outperform the benchmarks.
Bombay Stock Exchange’s Sensex ended at 17955.82, higher by 46.36 points or 0.26 per cent. The 30-share index touched intraday high of 17980.27 and low of 17892.16.
National Stock Exchange’s Nifty closed at 5393.90, up 15.15 points or 0.28 per cent. The broader 50-share benchmark touched a high of 5401.35 and low of 5374.40 in today’s trade.
As long as we hold 5320 there are chances of Nifty going moving towards 5000-5520. Market may see selling pressure near these levels and the index may drift to 5250-5150 levels. We are bearish on Maruti, Cipla and GAIL whereas Reliance Industries looks bullish.

The BSE Midcap Index advanced 0.44 per cent and BSE Smallcap Index moved up 0.66 per cent.
Buying was seen in IT and banks while oil&gas and metal scrips led the losers. BSE IT Index moved up 1.97 per cent and BSE Bankex advanced 0.79 per cent. BSE Oil&gas Index moved 0.34 per cent lower and BSE Metal Index declined 0.27 per cent.
TCS (6.16%), Tata Motors (2.65%), ICICI Bank (2.32%), Reliance Communications (1.93%) and ONGC (1.32%) were the top Nifty gainers.
Tata Consultancy Services reported standalone net profit of Rs. 1556.41 crore for the quarter ended June 30, 2010 on net sales of Rs. 6410.95 crore. Consolidated net profit for the quarter to June 2010 was Rs 1906.07 crore, up 24 per cent year on year. Set sales grew 14 per cent from the year ago quarter to Rs. 8217.28 crore.
Mahindra and Mahindra (-2.06%), HDFC Bank (-1.24%), Reliance Industries (-0.93%), HDFC (-0.86%) and Jindal Steel (-0.80%) led the decline.
Market breadth was positive on the BSE with 738 advances against 562 declines.