makin97 NSETIPS @ RAKESH MAKIN: MARKET ENDED 11.11.2010 MONDAY

Monday, October 11, 2010

MARKET ENDED 11.11.2010 MONDAY

WERE NIFTY GAINERS

MARKET ENDED 11.10.2010 MONDAY

SENSEX 20339.89 +89.63

NIFTY 6135.85 +32.40

NASDAQ 2409.90 +07.99

S&P 500 1166.96 +01.81

HANG SENG 23207.31 +263.13

FTSE 5672.40 +14.79

DJIA 10060.06 +19.61

Equities ended first day of the week on a positive note with broader markets outperforming frontline stocks. Cautious investors chose to stay on sidelines ahead of Infosys Technology results. Economic indicators like IIP data for August and inflation figures for September will also be keenly watched.

National Stock Exchange’s Nifty ended at 6135.85, up 32.40 points or 0.53 per cent. The broader index touched intraday high of 6187.75 and low of 6105.95.

Bombay Stock Exchange’s Sensex closed at 20320.30, up 70.04 points. The 30-share index touched a high of 20461.27 and low of 20250.26 in today’s trade.
For the week 6070 level is to remain important support for the market and closing below these levels can drag Nifty to the minimum levels of 6010 and maximum 5965 on the downside.
The level 6150/6170 may remain important hurdle for the market. Decisive close above the levels of 6170 can invite significant buying in the market and market can move ahead for the new highs 6260.

World markets are still in better condition and that may help to cartel down side for the market. In worst case scenario we may see the market maximum around 5900.

Positive action is expected in metals, capital goods, real estate, technology and oil&gas. Banks and auto may find it difficult to out-perform in the short term as the past rally was over extended and may require consolidation to rally further.

Buy on declines they are the best bets for investors as the market momentum is more dependent on the same. Add them on declines.

BSE Midcap Index was up 0.79 per cent and BSE Smallcap Index moved 1.30 per cent higher.
Amongst the sectoral indices, BSE Auto Index advanced 1.93 per cent, BSE Metal Index climbed 1.57 per cent higher and BSE Oil&gas Index moved 1.29 per cent up.

Nifty got support from Tata Motors (4.78%), Kotak Bank (3.36%), Sterlite Industries (2.96%), Ranbaxy Laboratories (2.58%) and Reliance Infrastructure (2.31%).

Bharti Airtel (-2.52%), Axis Bank (-1.42%), NTPC (-1.05%), L&T (-0.65%) and HDFC Bank (-0.65%) led the decline.

Meanwhile Europe was rangebound and the US stock futures signaled a positive start. At 4:45 pm IST, Dow Jones futures was up 0.10 per cent, S&P 500 moved 0.12 per cent higher and Nasdaq inclined 0.20 per cent.