makin97 NSETIPS @ RAKESH MAKIN: MARKET ENDED 03.08.2010 TUESDAY

Tuesday, August 3, 2010

MARKET ENDED 03.08.2010 TUESDAY

WERE SENSEX GAINERS

MARKET ENDED 03.08.2010 TUESDAY

SENSEX 18114.83 +33.62

NIFTY 5439.55 +07.90

NASDAQ 2295.36 +40.66

DJIA 10674.38 +208.44

RS/$ 46.19 +00.21

Indian equity benchmarks ended a lacklustre session in the positive territory Tuesday, due to lack of support from European peers and as bulls took a breather after a strong rally in the previous session. Losses in FMCG and capital goods were offset by gains in banks and oil & gas stocks.
Bombay Stock Exchange’s Sensex closed at 18,114.83, up 33.62 points or 0.19 per cent. The index touched intraday high of 18,167.45 and low of 18,072.38.
National Stock Exchange’s Nifty ended at 5439.55, up 7.9 points or 0.15 per cent. The broader index touched a high of 5459.20 and low of 5426.40 in today’s trade.
In the short-term, Nifty may face strong resistance at 5477 which was its previous top. We are bullish on the market unless some adverse news flow from Europe hits sentiments. In such a case, the Nifty is likely to take support at 5250.
Stocks like Indian Bank, UCO Bank, Jain Irrigation, KSB Pumps, Jayshree Tea look bullish and can outperform.
The BSE Midcap Index was up 0.31 per cent and BSE Smallcap Index inched up 0.33 per cent.
Amongst the sectoral indices, BSE Bankex was up 0.95 per cent and BSE Oil & gas Index moved 0.67 per cent higher. BSE FMCG Index and BSE Capital Goods Index declined 0.73 per cent each.
Bharti Airtel (3.35%), ICICI Bank (2.38%), Hero Honda (1.79%) Reliance Industries (1.15%) and HDFC (0.93%) were amongst the top Sensex gainers.
Losers included Reliance Communications (-2.30%), L&T (-1.47%), ITC (-1.46%), M&M (-1.14%) and Jindal Steel (-0.81%).
Market breadth was positive on the NSE with 1507 gainers against 1430 losers.
Meanwhile, European markets were down led by commodities and US stocks are likely to open mixed. At 4:30 pm IST, Nasdaq futures was up 0.07 per cent, Dow Jones slipped 0.02 per cent and S&P 500 declined 0.09 per cent. Regards,