makin97 NSETIPS @ RAKESH MAKIN: MARKET ENDED 20.08.2010 FRIDAY

Friday, August 20, 2010

MARKET ENDED 20.08.2010 FRIDAY

WERE TODAYS HEROS

MARKET ENDED 20.08.2010 FRIDAY

SENSEX	18401.82	-53.12
NIFTY	5530.65	-9.55
NASDAQ	2277.17	-28.52
DJIA	10644.25	-54.50
RS/$	46.30	+0.23

The BSE benchmark Sensex today fell by 53 points on concerns that the rally in domestic markets over the past two days was premature, given the weakness in global markets.
The Sensex, which had gained 405 points in the last two trading sessions, fell by 53.12 points, or 0.29 per cent, to 18,401.82 on emergence of profit-booking, with FMCG, IT and banking stocks the worst-hit.
The National Stock Exchange index Nifty fell by 9.55 points, or 0.17 per cent, to 5,530.65. During the day, it touched a high of 5,546.60 points.
However, gains registered by market heavyweight Reliance Industries and leading engineering firm Larsen & Toubro cushioned the market from a severe fall. L&T rose by 2.81 per cent, while Reliance Industries ended 1.16 per cent higher.
Realty shares also gained on easing fears about aggressive monetary tightening by the central bank in view of a fall in inflation, with DLF shooting up by 3.55 per cent.
The FMCG sector index suffered the most, losing 1.02 per cent to 3,375.08, followed by the IT sector index, which declined by 0.94 per cent to 5,517.00.
Analysts said IT stocks were badly affected a sharp fall in US markets as disappointing unemployment and industrial data rekindled worries about the economic recovery in the world's largest economy.
In yesterday's session, the Dow Jones Industrial Average plunged 144.33 points, or 1.39 per cent, and the Nasdaq composite index declined 36.75 points, or 1.66 per cent.
IT companies depend on US and European markets for 50 per cent of their revenue and the negative trend overseas saw the second most valued scrip on the Sensex, Infosys Technologies, drop by Rs 29.30 to Rs 2,769.20, while Tata Consultancy Services lost Rs 7.40 to Rs 867.10 and Wipro fell by Rs 10.75 to Rs 411.65.
The banking sector index fell by 0.79 per cent to 12,527.49 as State Bank of India, ICICI Bank, HDFC Bank fell sharply, eroding recent gains. SBI fell by Rs 22.05 to Rs 2,783.65, while ICICI Bank lost Rs 18.05 to Rs 994.50 and HDFC Bank dropped by Rs 0.15 to Rs 2,231.
From the Sensex pack, the other losers were Tata Motors (2.41 per cent), HUL (1.74 per cent), ITC (1.36 per cent) and ACC (1.33 per cent).

Gainers comprised DLF (3.52%), L&T (2.86%), Cipla (1.85%), RIL (0.86%), Hero Honda (0.82%), Jindal Steel (0.81%), Mahindra & Mahindra (0.65%), Reliance Infra (0.60%), HDFC Bank (0.42%) and Jaiprakash Associates (0.04%).
Among the 30-BSE index components, 21 stocks ended with losses, while nine closed in positive terrain.
Asian markets ended lower, with key benchmark indices in Japan, South Korea, Singapore, Hong Kong, Taiwan and China finishing lower by 0.02 per cent to 1.96 per cent. Key benchmark indices in France, UK and Germany also eased by 0.38 pct to 0.50 pct.

Regards

RAKESH MAKIN

Chugh securities Pvt Ltd