WERE TODAYS HEROS
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MARKET ENDED 19.07.2010 MONDAY
SENSEX 17928.42 -27.40
NIFTY 5386.45 -07.45
NASDAQ 2179.05 -70.03
DJIA 10097.90 -261.41
RS/$ 46.80 -00.17
Indian equity benchmarks ended a choppy session on negative note Monday, due to lack of support from global peers. Gains in capital goods and banks were offset by losses in realty and FMCG stocks.
Market opened on a subdued note and moved in a narrow range. Attempts at pullback were short-lived and positive European markets did little to boost sentiments.
Bombay Stock Exchange’s Sensex ended at 17928.42, down 27.40 points or 0.15 per cent. The index touched intraday high of 18005.07 and low of 17856.40.
National Stock Exchange’s Nifty closed at 5386.45, down 7.45 points or 0.14 per cent. The index touched a high of 5409.10 and low of 5361.50 in trade so far.
On a weekly basis Nifty is still in a uptrend as its forming a higher top higher bottom formation which is a bullish sign. This uptrend could get damaged only if Nifty starts trading below 5,340, then the next level to watch out could be 5,310 - 5,270 - 5,240. So remain cautious below 5,250 and avoid fresh buying
The BSE Midcap Index added 0.20 per cent and BSE Smallcap Index edge up 0.14 per cent.
Amongst the sectoral indices, BSE Bankex moved up 0.25 per cent and BSE Capital Goods Index advanced 0.22 per cent while BSE FMCG Index moved 1.40 per cent lower and BSE Realty Index declined 0.94 per cent.
Nifty losers included ITC (-2.35%), ABB (-2.33%), Sterlite Industries (-1.41%), DLF (-1.25%) and IDFC (-1.23%).
Reliance Communications (2.14%), NTPC (2.09%), Hindalco (1.63%), Idea Cellular (1.46%) and GAIL (1.38%) were the top gainers.
Shares of Reliance Communications gained momentum on reports that Etisalat was close to buying 26 percent stake in the company.
Market breadth was positive on the NSE with 1,647 advances against 1,526 declines.
Meanwhile, European markets were in the green and Wall Street is also expected to open higher. At 4:50 pm IST, Dow Jones futures was up 0.48 per cent, Nasdaq 100 gained 0.57 per cent and S&P 500 moved 0.51 per cent higher.
Regards,
RAKESH MAKIN
Chugh securities Pvt Ltd
+91 9915684997,9041667797(DIRECT)
OFF 0172-4657997
PANCHKULA (Haryana).
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