makin97 NSETIPS @ RAKESH MAKIN: MARKET ENDED 05.10.2010 TUESDAY

Tuesday, October 5, 2010

MARKET ENDED 05.10.2010 TUESDAY

ALL IS WELL ADAG

MARKET ENDED 05.10.2010 TUESDAY

SENSEX 20407.71 -68.02

NIFTY 6145.80 -13.65

NASDAQ 2391.73 +47.21

S&P 500 1157.26 +20.23

HANG SENG 22639.14 +20.48

FTSE 5635.76 +79.79

The Indian stock market ended a choppy session in the red Tuesday, due to absence of buyers at higher levels. However, investors shifted attention to stocks from broader markets which were attractively priced.

Indices began trade on a subdued note and turned choppy moving in and out of negative terrain. According to experts, the market outlook is bullish and the benchmarks are facing stiff resistance at current levels. All eyes are now on the earnings season which is likely to direct the course of the market in coming days.

Bombay Stock Exchange’s Sensex ended at 20,407.71, down 68.02 points or 0.33 per cent. The 30-share index hit a high of 20,560.54 and low of 20,383.16.

National Stock Exchange’s Nifty closed at 6,145.80, down 13.65 points or 0.22 per cent. The index touched a high of 6,188.35 and low of 6,118.05.
Markets are still positive but may see significant resistance around 6200-6250 zone. There is a possibility that it may see some correction as well. But every fall will be a good buying opportunity. Midcaps and other stocks that were left out may catch-up.

BSE Midcap Index was up 0.78 per cent and BSE Smallcap Index moved 1.14 per cent higher.
Amongst the sectoral indices, BSE FMCG Index was down 1.12 per cent, BSE Metals Index slipped 0.33 per cent and BSE Bankex declined 0.30 per cent. BSE Power Index moved 0.87 per cent higher and BSE Auto Index moved up 0.74 per cent.
Index losers included HDFC (-2.24%), Bharti Airtel (-2.07%), HDFC Bank (-1.93%), Hindalco (-1.60%) and Hinudstan Unilever (-1.57%).

Reliance Power (4.24%), Reliance Capital (4.14%), Bajaj Auto (3.49%), Reliance Infrastructure (3.01%), and Reliance Communications (2.72%) were amongst the gainers.

Meanwhile, European markets were in the green and Wall Street is likely to follow suit. At 5:12 pm IST, Dow Jones futures was up 0.14 per cent, S&P 500 gained 0.22 per cent and Nasdaq moved 0.32 per cent higher.