WERE NIFTY GAINERS
MARKET ENDED 28.07.2010 WEDNESDAY
SENSEX 17957.37 -120.24
NIFTY 5397.55 -33.05
NASDAQ 2288.25 -08.18
DJIA 10537.69 +12.26
Indian equity benchmarks ended below key levels Wednesday, as investors booked profits in heavy-weights like Reliance Industries ahead of July F&O series expiry. Weakness in Europe did not help trader sentiment much.
Bombay Stock Exchange’s Sensex closed at 17,957.37, down 120.24 points or 0.67 per cent. The 30-share index touched a low of 17,925.40 and high of 18,137.14 during the session.
National Stock Exchange’s Nifty ended at 5397.55, down 33.05 points or 0.61 per cent. The broader 50-share index hit a low of 5386.25 and high of 5447.85 in today’s trade.
Nifty was making rising trendline support since May which was decisively broken today. We expect some profit booking from current levels and the index may slip to 5200.
Nifty 5400 put has showed loss of open interest by 5,94,000 contracts. This indicates that the traders are not willing to support the market at 5400.
We see minor support at 5350 and below that we may slip to 5218. Any pullback up to 5400 will be taken as an opportunity to exit long positions.
The BSE Midcap Index lost 0.21 per cent and BSE Smallcap Index edged lower by 0.16 per cent.
Amongst the sectoral indices, BSE Oil&Gas Index slipped 1.92 per cent, BSE Realty Index declined 1.29 per cent, BSE Capital Goods Index edged lower by 0.86 per cent, Bankex gave up 0.24 per cent while BSE Auto Index gained 0.66 per cent, BSE Healthcare Index added 0.30 per cent.
Biggest Nifty losers were Hindustan Unilever (-3.23%), Reliance Industries (-3.16%), IDFC (-3%), DLF (-2.53%), HCL Technologies (-2.50%), Unitech (-2.48%), Larsen & Toubro (-2.21%), among others.
Earlier Tuesday, Reliance Industries posted net profit of Rs 4,851 crore for the quarter ended June, a jump of 32.3 per cent from Rs 3,666 crore in the same quarter a year ago.
Nifty gainers included ABB (3.58%), BPCL (2.09%), Sun Pharma (1.51%), Tata Motors (1.47%), State Bank of India (1.39%), Cipla (1.37%).
Market breadth on BSE was negative, with 1,682 declines against 1,197 advances and 133 stocks unchanged.
The total volume shot up to Rs 5,028.00 crore from Rs 4,085.78 crore on Tuesday. Today's newly listed Aster Silicates topped the list of highest traded securities with a turnover of Rs 591.05 crore.
Asian stocks ended in positive terrain on some strong corporate earnings. Key indices in China, Hong Kong, Japan, Singapore, South Korea and Taiwan ended up by between 0.20 per cent and 2.70 per cent. European stocks were also trading in positive zone in their late morning deals.
Regards,
RAKESH MAKIN
Chugh securities Pvt Ltd
+91 9915684997,9041667797(DIRECT)
OFF 0172-4657997
PANCHKULA (Haryana).
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