makin97 NSETIPS @ RAKESH MAKIN: MARKET ENDED 06.10.2010 WEDNESDAY

Wednesday, October 6, 2010

MARKET ENDED 06.10.2010 WEDNESDAY

WERW TODAYS GAINERS

MARKET ENDED 06.10.2010 WEDNESDAY

SENSEX 20543.08 +135.37

NIFTY 6186.45 +40.65

NASDAQ 2382.74 -17.09

S&P 500 1158.97 +01.78

HANG SENG 22880.41 +241.27

FTSE 5677.06 +41.30

Indian stock markets ended on a positive note Wednesday, but after giving up some of the intraday gains as investors booked profits near psychological resistance levels. Mid and small cap shares continued to outperform the index heavyweights.
Liquidity is back in the emerging markets on hopes of that countries facing economic issues may announce more stimulus packages.

Bombay Stock Exchange’s Sensex ended at 20,543.08, up 135.37 points or 0.66 per cent. The 30-share index hit a high of 20,669.95 and low of 20,447.05.

National Stock Exchange’s Nifty closed at 6186.45, up 40.65 points or 0.66 per cent. The index touched a high of 6223.40 and low of 6148.60.
Purely from index point of view, Nifty is overbought and is expected to remain in the range of 6200-5900. We expect the broader markets to outperform the benchmarks. Traders can be selectively long on RIL, Century Textiles and Praj Industries. Metals are looking good sect orally.
BSE Midcap Index was up 1.10 per cent and BSE Smallcap Index moved 0.75 per cent higher.

Amongst the sectoral indices, BSE Realty Index gained 2.75 per cent, BSE Metal Index moved 2.25 per cent higher and BSE Oil&Gas Index climbed up 1.09 per cent.

Jaiprakash Associates (7.20%), HidalCo Industries (3.82%), Sterlite Industries (3.78%) were amongst the gainers

Reliance Power (-1.30%), Hindustan Unilever (-1.09%), Ranbaxy Laboratories (-0.95%) Sun Pharma (-0.92%) and Cipla (-0.91%) were amongst the losers.

Market breadth was positive on the NSE with 1939 advances as compared to 1325 declines.

Regards

RAKESH MAKIN

Chugh securities Pvt Ltd