makin97 NSETIPS @ RAKESH MAKIN: MARKET ENDED 18.08.2010 WEDNESDAY

Wednesday, August 18, 2010

MARKET ENDED 18.08.2010 WEDNESDAY

WERE NIFTY MOVERS

MARKET ENDED 18.08.2010 WEDNESDAY

SENSEX 18257.12 +208.27

NIFTY 5479.15 +65.00

NASDAQ 2277.17 -28.52

DJIA 10644.25 -54.50

RS/$ 46.30 +00.23

Indian stock markets ended near day’s high on Wednesday, after buying intensified in IT, FMCG and metals space in the last one hour of trade. Subdued European markets were ignored by traders as they lapped up Tier II and III stocks.
National Stock Exchange’s Nifty closed at 5479.15, up 65 points or 1.20 per cent. The index touched a high of 5487.95 and low of 5416.25 in today’s trade.

Bombay Stock Exchange’s Sensex ended at 18257.12, up 208.27 points or 1.15 per cent. The 30-share index touched intraday high of 18286 and low of 18067.67.
Banking stocks continued to remain positive and fresh momentum was seen in fertiliser and IT stocks. Market is looking positive at current levels and the first positive trigger would come at 5475. If this level is crossed then the first target to look for would be 5520 and after that 5560. On the lower side, support is seen at 5420 and then 5390.
The BSE Midcap Index was up 0.85 per cent and BSE Smallcap Index moved higher by 0.70 per cent.
Amongst the sectors, BSE IT Index gained 1.96 per cent, BSE FMCG Index moved higher by 1.45 per cent and BSE Metal Index was up 1.43 per cent.
Hindalco (4.73%), Tata Motors (4.14%), Ranbaxy Laboratories (4.01%), Sun Pharma (3.65%) and HDFC Bank (3.34%) were the top Nifty gainers.
Suzlon Energy (-3.23%), Idea Cellular (-1.55%), Siemens (-1.23%), Reliance Power (-1.17%) and Power Grid Corporation (-1%) were the biggest losers.
Global fertilizer counters witnessed buying activity after an unsuccessful bid by BHP Billiton to take ouver Potash Corp, the world's largest producer of fertilizer.
The development may lead to positive sentiments for Indian fertilizer makers as well, especially Phosphatic & Complex fertiliser makers such as Coromandel International, Zuari Industries, GNFC.
Shares of GNFC surged 9.52 per cent, GSFC rallied 7.31 per cent, Deepak Fertilisers gained 7.63 per cent, Chambal Fertlisers was up 6.78 per cent, Zuari Industries moved 4.38 per cent higher and Coromondel International rose 3.36 per cent.
Market breadth was positive on the NSE with 1,801 gainers against 1,404 losers.
Meanwhile, European markets were witnessing selling pressure and Wall Street is also likely to open on a subdued note. At 4:30 pm IST, Dow Jones futures was down 0.01 per cent, S&P 500 slipped 0.07 per cent lower and Nasdaq declined 0.14 per cent.