makin97 NSETIPS @ RAKESH MAKIN: MARKET ENDED 22.07.2010 THURSDAY

Thursday, July 22, 2010

MARKET ENDED 22.07.2010 THURSDAY

WERE SENSEX UP MOVERS

MARKET ENDED 22.07.2010 THURSDAY

SENSEX 18091.84 +114.31

NIFTY 5441.95 +42.60

NASDAQ 2187.33 -35.16

DJIA 10120.53 -109.43

RS/$ 47.25 +00.17

Indian equities pulled back in the afternoon aided by positive global cues and ended at 30-month highs. The rally was led by metals, auto and FMCG space while IT stocks ended on a subdued note.
Market opened on a weak note due to lack of support from peers. Some news-based stock specific actions were seen as the indices continued to drag. However, the benchmarks spiked up after European markets surged ahead of results of Stress Test of European banks.
Bombay Stock Exchange’s Sensex ended at 18113.15, up 135.92 points or 0.76 per cent. The index touched a high of 18127.90 and low of 17879.88.
National Stock Exchange’s Nifty ended at 30-month high of 5,441.95, up 42.60 points or 0.79 per cent. The 50-share index hit a high of 5447.15 and low of 5372.20.
Nifty may see a gap-up opening around 5490 and may face resistance of 5510. We are bullish on the market and see Nifty hitting 5600 mark. The support is seen around 5400.
Auto sector looks strong and stock-wise Tata Motors, M&M, ICICI Bank and Cairn India have upside potential.
BSE Midcap Index closed 0.41 per cent higher and BSE Smallcap Index moved up 0.27 per cent.
Amongst the sectoral indices, BSE Metal Index advanced 1.28 per cent, BSE Auto Index gained 1.24 per cent and BSE FMCG Index moved 0.93 per cent higher.
Mahindra & Mahindra (2.50%), Bharti Airtel (2.39%), Jaiprakash Associates (1.95%), Tata Steel (1.94%) and Tata Motors (1.78%) led the Sensex upmove.
ACC (-1.06%), Reliance Infrastructure (-0.79%), Maruti Suzuki (-0.74%), Tata Power (-0.42%) and Infosys Technologies (-0.28%) resisted the upmove.
Market breadth was positive on the BSE with 681 advances against 616 declines.
European markets were in the green led by financials and the Wall Street is also expected to open higher. At 5:15 pm IST, Dow Jones futures was down 0.97 per cent, Nasdaq 100 gained 1.10 per cent and S&P 500 moved up 1.17 per cent.