WERE TODAYS SENSEX GAINERS
MARKET ENDED 15.07.2010 THURSDAY
SENSEX 17909.46 -28.70
NIFTY 5378.75 -07.40
NASDAQ 2249.84 +07.81
DJIA 10366.72 +03.70
Equities ended a choppy session on a flat note for second consecutive session Thursday, after a four-day rally. Lack of cues from global markets also kept traders on sidelines.
Indices consolidated in a narrow range after a subdued opening. Gains in FMCG and IT stock were offset by losses in oil&gas and realty stocks.Market is likely to consolidate for a few more sessions in the absence of any trigger from global markets. Stock-specific action is expected in coming sessions as companies report quarterly earnings.
Bombay Stock Exchange’s Sensex closed at 17,909.46, down 28.70 points or 0.16 per cent. The index touched intraday high of 17978.56 and low of 17858.73.
National Stock Exchange’s Nifty ended at 5378.75, down 7.4 points or 0.14 per cent. The index touched a high of 5399.20 and low of 5360.60 in today’s trade.
In last two trading sessions we have been witnessing marginal selling pressure but till the time our market sustains above 5300 levels we are in safe zone and stock specific buying interest may be seen.
On the upside if Nifty sustains above 5420 levels then further buying may be seen towards 5450-5500. On the down side if it falls below 5300 levels then selling pressure will intensify.
Looking at derivatives data, 5500 strike price call has been seeing fresh writing which may work as a strong resistance. Overall market is likely to be positive to rangebound until or unless we don’t break 5300 levels.
BSE Midcap Index gained 0.13 per cent and BSE Smallcap Index moved up 0.12 per cent.
Amongst the sectoral indices, BSE FMCG Index moved up 0.77 per cent and BSE IT Index advanced 0.66 per cent. BSE Oil&gas Index declined 0.76 per cent and BSE Realty Index edged 0.74 per cent lower.
ONGC (-1.56%), Reliance Communications (-1.53%), HDFC Bank (-1.15%), BHEL (-1.04%) and Maruti Suzuki (-1.04%) were amongst the top Sensex losers.
Hindustan Unilever (2.15%), Tata Motors (1.41%), TCS (1.22%), Tata Steel (1.08%) and Wipro (1.02%) were the top gainers.
Market breadth was negative on the BSE with 1686 losers against 1471 gainers.
European markets were mixed and US stock futures indicated a positive start. At 4:15 pm IST, Dow Jones futures was up 0.11 per cent, Nasdaq 100 moved 0.26 per cent higher and S&P 500 gained 0.16 per cent.
Regards,
RAKESH MAKIN
Chugh securities Pvt Ltd
+91 9915684997,9041667797(DIRECT)
OFF 0172-4657997
PANCHKULA (Haryana).
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