makin97 NSETIPS @ RAKESH MAKIN: MARKET ENDED 19.08.2010 THURSDAY

Thursday, August 19, 2010

MARKET ENDED 19.08.2010 THURSDAY

WERE TODAYS HEROES

MARKET ENDED 19.08.2010 THURSDAY

SENSEX 18454.94 +197.82

NIFTY 5540.20 +61.05

NASDAQ 2277.17 -28.52

DJIA 10644.25 -54.50

RS/$ 46.30 +00.23

Sustained buying across the board helped Indian equity benchmarks to end at 30-month highs. The rally was led by banks, FMCG and capital goods while realty and IT stocks ended with losses. Traders also took cues from positive European markets.
Indices opened on a firm note extending overnight gains and crossed crucial resistance levels. However, according to experts, the FII-backed rally may lose steam in coming sessions.
The market is driven by liquidity from FIIs (foreign institutional investors) evens as domestic funds have been sellers. It needs to be seen for how long the inflows continue. As FIIs have deployed most of their funds, the rally may slow down in the coming days. One needs to be stock-specific at current levels. Sectorally, some movement may be seen in oil&gas and technology stocks.
National Stock Exchange’s Nifty closed at 5540.20, up 61.05 points or 1.11 per cent. The 50-share index hit a high of 5544.70 and low of 5478.10.

Bombay Stock Exchange’s Sensex ended at 18454.94, gaining 197.82 points or
1.08 per cent. The 30-share index touched an intraday high of 18475.27 from the opening level of 18276.50.
The BSE Midcap Index chalked up 0.91 per cent and BSE Smallcap Index moved higher by 0.79 per cent.
Among the sectors, BSE Bankex was up 1.92 per cent, BSE FMCG Index gained 1.63 per cent and BSE Metals Index moved 0.97 per cent higher. However, BSE Realty Index was down 0.67 per cent.
Ambuja Cements (10.68%), ACC (5.29%), ICICI Bank (4.75%), HDFC (3.40%) and Jaiprakash Associates (3.31%) were among the top Nifty gainers.
Shares of cement companies zoomed up on reports that Maharashtra-based companies have hiked price by Rs 20 per 50 kg from today.
Unitech (-1.47%), ONGC (-1.39%), Tata Power (-1.30%), Tata Motors (-0.89%) and Reliance Communications (-0.76%) were the top losers.
Market breadth was positive, with 1,798 gainers against 1,405 losers on NSE.
Meanwhile, European markets were in the green and US is also seen up. At 4:20 pm IST, Dow Jones futures was up 0.48 per cent, S&P 500 gained 0.55 per cent and Nasdaq moved 0.56 per cent higher.