WERE SENSEX GAINERS
MARKET ENDED 30.09.2010 THURSDAY
SENSEX 20069.12 +112.78
NIFTY 6029.95 +38.65
INR-USD 44.89 -0.25
Indian stock market indices bounced back in the last hour of trade Thursday as traders covered short positions on September F&O series expiry. FMCG, banks and metals moved higher while oil & gas and auto stocks ended lower. According to analysts, the market is likely to move higher in the October series.
However, if the index manages to hold on to 6050 on closing basis in the first week of October then we may see a 200 points rally and the index may test 6200-6250 levels.
We are bullish on SBI, ICICI Bank, LIC Housing, IDFC, Tata Motors, L&T, and Tata Steel and on Infosys Technologies above Rs 3060
Bombay Stock Exchange’s Sensex closed at 20,069.12, up 112.78 points or 0.57 per cent. The index touched intraday low of 19,864.46 and high of 20,114.73.
National Stock Exchange’s Nifty ended at 6,029.95, up 38.65 points or 0.65 per cent. The index touched a low of 5,963.60 and high of 6,048.45 in today’s trade.
BSE Midcap Index was down 0.24 per cent and BSE Smallcap Index moved up 0.11 per cent.
Amongst the sectoral indices, BSE FMCG Index gained 1.40 per cent and BSE Metal Index moved 0.82 per cent higher. BSE Oil&gas Index fell 1.17 per cent and BSE Auto Index declined 0.51 per cent.
HDFC (3.29%), Sterlite Industries (3.28%), (2.61%), ITC (2.53%) and Wipro (1.61%) were the top Sensex gainers.
ACC (-1.49%), ONGC (-1.48%), Reliance Infra (-1.28%), Reliance Industries (-1.27%) and Reliance Communications (-0.85%) were the major losers.
Market breadth was negative on the BSE with 1,644 losers against 1,309 gainers.
Meanwhile, European markets were in the red and Wall Street is expected to follow suit. At 4:30 pm IST, Dow Jones futures was down 0.19 per cent, S&P 500 slipped 0.25 per cent and Nasdaq declined 0.17 per cent.
However, if the index manages to hold on to 6050 on closing basis in the first week of October then we may see a 200 points rally and the index may test 6200-6250 levels.
We are bullish on SBI, ICICI Bank, LIC Housing, IDFC, Tata Motors, L&T, and Tata Steel and on Infosys Technologies above Rs 3060
Bombay Stock Exchange’s Sensex closed at 20,069.12, up 112.78 points or 0.57 per cent. The index touched intraday low of 19,864.46 and high of 20,114.73.
National Stock Exchange’s Nifty ended at 6,029.95, up 38.65 points or 0.65 per cent. The index touched a low of 5,963.60 and high of 6,048.45 in today’s trade.
BSE Midcap Index was down 0.24 per cent and BSE Smallcap Index moved up 0.11 per cent.
Amongst the sectoral indices, BSE FMCG Index gained 1.40 per cent and BSE Metal Index moved 0.82 per cent higher. BSE Oil&gas Index fell 1.17 per cent and BSE Auto Index declined 0.51 per cent.
HDFC (3.29%), Sterlite Industries (3.28%), (2.61%), ITC (2.53%) and Wipro (1.61%) were the top Sensex gainers.
ACC (-1.49%), ONGC (-1.48%), Reliance Infra (-1.28%), Reliance Industries (-1.27%) and Reliance Communications (-0.85%) were the major losers.
Market breadth was negative on the BSE with 1,644 losers against 1,309 gainers.
Meanwhile, European markets were in the red and Wall Street is expected to follow suit. At 4:30 pm IST, Dow Jones futures was down 0.19 per cent, S&P 500 slipped 0.25 per cent and Nasdaq declined 0.17 per cent.
Regards
RAKESH MAKIN
Chugh securities Pvt Ltd+91 9915684997, 9041667797(DIRECT)
OFF 0172-4657997
PANCHKULA (Haryana).
Email:makin_97@yahoo.com
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