makin97 NSETIPS @ RAKESH MAKIN: MARKET ENDED 23.09.2010 THURSDAY

Thursday, September 23, 2010

MARKET ENDED 23.09.2010 THURSDAY

MARKET ENDED 23.09.2010 THURSDAY


SENSEX	19861.01	-80.71
NIFTY	5959.55	-31.45
NASDAQ	2141.54	+17.78
DJIA	10060.06	+19.61
RS/$	46.79	-0.14

Indian markets ended choppy session on a lower note for second consecutive day Thursday, as bulls ran out of steam after hitting resistance levels. Profit booking in European markets also dented sentiments.

Indices opened on a subdued note due to lack of cues from Asian peers. Investors booked profits in frontline stocks from realty, banks and oil&gas space which had run up sharply in the past few sessions. According to analysts, the market is taking a breather before next leg of upmove and may turn volatile in the short-term.
Weak hands are getting out of the market while investors are staying put. This is likely to result in increased volatility in coming days. Otherwise, the market is on a good platform and Nifty is expected to touch 6220. 5800 is a good support base.

Bombay Stock Exchange’s Sensex ended at 19,861.01 down 80.71 points. The 30-share index touched intraday low of 19,771.63 and high of 19,998.32.

National Stock Exchange’s Nifty closed at 5,959.55, down 31.45 points. The broader index touched a low of 5,932.40 and high of 6,006.80 in today’s trade.

BSE Midcap Index was down 0.21 per cent and BSE Smallcap Index moved up 0.07 per cent.

Amongst the sectoral indices, BSE Realty Index was down 1.97 per cent, BSE Bankex slipped 1.21 per cent and BSE Oil&gas Index declined 1.01 per cent.

Unitech (-2.71%), Reliance Capital (-2.65%), ICICI Bank (-2.64%), Axis Bank (-2.46%), Reliance Industries (-2.27%) were top Nifty losers.

HUL (1.95%), Jaiprakash Associates (1.59%), M&M (1.45%), ITC (1.43%) and ONGC (1.39%) moved higher.

Market breadth was positive on the BSE with 1375 gainers against 1591 losers.

European markets were in the red on concerns of economic recovery and US stock futures are likely to follow suit.