makin97 NSETIPS @ RAKESH MAKIN: MARKET ENDED 08.10.2010 FRIDAY

Friday, October 8, 2010

MARKET ENDED 08.10.2010 FRIDAY

WERE SENSEX GAINERS

MARKET ENDED 08.10.2010 FRIDAY

SENSEX 20250.26 -65.06

NIFTY 6120.30 -16.85

NASDAQ 2141.54 +17.78

S&P 500 1163.11 +05.05

HANG SENG 22944.18 +59.86

FTSE 5657.61 -04.52

DJIA 10060.06 +19.61

Indian stock markets ended lower for second consecutive session Friday, even as the indices pared most of intra-day losses in the last hour of trade. Markets have been witnessing profit booking for the past few sessions.
After a subdued start on the back of lackluster global cues, indices slipped lower as risk-aversion was back in the market. According to experts, the market may see some more correction till the earnings season begins.
Market is showing signs of weakness and may go down further to 6,000 levels. Once Infosys results are out then we may see some upmove taking the index back to current levels. Mphasis looks strong while L&T may witness more profit booking. One should hold on to cash and wait for a correction to enter. Those already invested should stay put.

Bombay Stock Exchange’s Sensex ended at 20250.26, down 65.06 points or 0.32 per cent. The index touched a high of 20409.19 and low of 20145.74.

National Stock Exchange’s Nifty ended at 6103.45, down 16.85 points or 0.28 per cent. The index touched a high of 6148.60 and low of 6067.
BSE Midcap Index was down 0.47 per cent and BSE Smallcap Index slipped 0.28 per cent.
Amongst sectoral indices, BSE Metal Index was down 1.49 per cent and BSE Auto Index declined 1.30 per cent. BSE Healthcare Index was up 0.82 per cent and BSE IT Index was up 0.37 per cent.

Cipla (1.74%), Hindalco Industries (1.32%), Reliance Communications (1.26%), Wipro (0.98%) and Reliance Industries (0.94%) and were amongst the top Sensex gainers.

Tata Steel (-3.48%), M&M (-2.74%), Jaiprakash Associates (-2.30%), Tata Motors (-1.90%) and ONGC (-1.66%) led the decline.
Market breadth was negative on the BSE with 1825 losers as compared to 1120 gainers.

Regards

RAKESH MAKIN

Chugh securities Pvt Ltd