makin97 NSETIPS @ RAKESH MAKIN: MARKET ENDED 28.09.2010 TUESDAY

Tuesday, September 28, 2010

MARKET ENDED 28.09.2010 TUESDAY

MARKET ENDED 28.09.2010 TUESDAY

SENSEX 20104.86 -12.52

NIFTY 6029.50 -06.15

NASDAQ

2141.54 +17.78

DJIA

10060.06 +19.61

RS/$ 46.79 -00.14

Indian equity benchmarks ended a volatile session flat Tuesday, as traders squared off F&O positions ahead of September series expiry. Power, capital goods and realty ended higher while oil & gas and IT stocks closed in the red.
The market opened on a subdued note and slipped below psychological levels as concerns of economic recovery in global markets loomed over. However, indices pared losses towards close of session.
We expect Nifty to remain range-bound between 5950 and 6050. People who have missed the rally should not jump in as it can be dangerous at current levels. Those who are holding long positions must continue to do so by keeping a stop-loss at 5950. Tech Mahindra, IIFL and India Cements look bullish at current levels.
Bombay Stock Exchange’s Sensex ended at 20,104.86, down 12.52 points or 0.06 per cent. The 30-share index hit intraday high of 20,157.51 and low of 19,981.96.

National Stock Exchange’s Nifty closed at 6,029.50, down 6.15 points or 0.10 per cent. The broader index touched a high of 6,049.80 and low of 5,991.30 in today’s trade.

BSE Midcap Index was up 0.20 per cent and BSE Smallcap Index moved 0.03 per cent higher.
Amongst the sectoral indices, BSE Power Index gained 1.15 per cent and BSE Capital Goods Index moved 0.93 per cent higher. BSE Oil&Gas Index slipped 0.74 per cent and BSE IT Index declined 0.46 per cent.
ABB (7.48%), Siemens (4.77%), Reliance Infrastructure (2.77%), DLF (2.73%) and M&M (2.23%) were amongst the top Nifty gainers.

Idea (-2.34%), HDFC (-2.19%), IDFC (-1.73%), Reliance Industries (-1.22%) and BPCL (-1.07%) led the losers’ pack.
Market breadth was negative on the NSE with 1,483 gainers against 1,769 losers.
Meanwhile, European markets were flat to positive and the US markets are expected to follow suit. At 5:20 pm IST, Dow Jones futures was up 0.11 per cent, S&P 500 gained 0.09 per cent and Nasdaq moved 0.35 per cent higher.