makin97 NSETIPS @ RAKESH MAKIN: MARKET ENDED 20.07.2010 TUESDAY

Tuesday, July 20, 2010

MARKET ENDED 20.07.2010 TUESDAY

WERE TODAY S GAINERS

MARKET ENDED 20.07.2010 TUESDAY

SENSEX 17878.14 -50.28

NIFTY 5368.00 -18.45

NASDAQ 2198.23 +19.18

DJIA 10154.43 +56.53

RS/$ 47.08 +00.28

Indian equity benchmarks pared intraday gains and ended lower Tuesday after selling intensified in the last one hour of trade. Pharma, auto and banks led the decline while realty stocks showed some strength.
Market opened on a positive note and turned choppy due to lack of cue from global peers. However, profit booking was triggered after the European markets slipped in red.
Bombay Stock Exchange’s Sensex closed at 17878.14, down 50.28 points or 0.28 per cent. The index touched intraday high of 18040.17 and low of 17848.07.
National Stock Exchange’s Nifty ended at 5368, down 18.45 points or 0.34 per cent. The index touched a high of 5416.45 and low of 5353.60 in today’s trade.
Market has opened the window of sideways correction in last 6 days of trading sessions and the range of the window is between 5410 and 5350 (17850-18010) levels. It seems difficult to hold such a narrow range for a long time.
Breakout or breakdown on either side is not ruled out in the near term and on the dismissal of the range, we may expect quick rise or selloff in the market. In that case one must be ready to act accordingly as the activity may send the market nearly 2% above and below the range report said.
The BSE Midcap Index ended lower by 0.30 per cent and BSE Smallcap Index lost 0.26 per cent.
Amongst the sectoral indices, BSE Healthcare Index declined 0.90 per cent and BSE Auto Index slipped 0.69 per cent higher and BSE Bankex was down 0.43 per cent. BSE Realty Index gained 1.31 per cent,
Nifty losers included BPCL (-2.20%), HCL Tech (-1.93%), Jaiprakash Associates (-1.89%), IDFC (-1.84%) and HDFC (-1.50%).
Unitech (2.45%), DLF (1.87%), Sterlite Industries (1.56%), Wipro (0.93%) and ABB (0.66%) were amongst the top gainers.
Market breadth was negative on the NSE with 1,770 declines against 1,405 advances.
Meanwhile, European markets continued to slip lower as investors offloaded financial stocks. Wall Street is also likely to open lower suggest stock futures. At 4:40 pm IST, Dow Jones futures was down 0.71 per cent, Nasdaq 100 slipped 0.82 per cent and S&P 500 moved 0.78 per cent lower.