makin97 NSETIPS @ RAKESH MAKIN: MARKET ENDED 20.10.2010 WEDNESDAY

Wednesday, October 20, 2010

MARKET ENDED 20.10.2010 WEDNESDAY

WERE GAINERS TODAY CHOPPY MARKET

MARKET ENDED 20.10.2010 WEDNESDAY

SENSEX 19872.15 -110.98

NIFTY 5982.10 -45.20

NASDAQ 2429.94 -11.29

DJIA 10060.06 +19.61

S&P 500 1171.30 +06.80

UPDATEDTIME 09.48 PM 20 OCT 2010

Equities ended a choppy session in the negative territory Wednesday, as funds continued to offload positions in the last hour of trade. Metals, realty and FMCG led the decline while capital goods and oil&gas showed some strength.
Market opened lower and turned sluggish due to lack of buying conviction at current levels. Subdued global markets also kept bulls on the sidelines. According to analysts, the market is unlikely to see a sharp correction from these levels and may turn choppy for a few days.

National Stock Exchange’s Nifty closed at 5,982.10, down 45.20 points or 0.75 per cent. The index touched a high of 6,038.10 and low of 5,966.75 in today’s trade.

Bombay Stock Exchange’s Sensex ended at 19,872.15, down 110.98 points or 0.56 per cent. The 30-share index touched intraday high of 20,043.82 and low of 19,822.66.

Nifty has a strong support at 5940 and it is unlikely to be breached. The market may consolidate for a few days and chances are that it will bounce back. We are expecting Nifty to test 6350-6400 before next expiry.

BSE Midcap Index was 0.03 per cent lower and BSE Smallcap Index down 0.54 per cent.

Amongst the sectoral indices, BSE Metal Index fell 2.22 per cent, BSE Realty Index declined 1.37 per cent and BSE FMCG Index edged 1.02 per cent lower. BSE Capital Goods Index rose 0.20 per cent and BSE Oil&gas Index inched 0.16 per cent higher.

Sterlite Industries (-3.46%), HCL Tech (-3.26%), HDFC (-3%), Sesa Goa (-2.98%) and Tata Steel (-2.51%) led the Nifty decline.

Ranbaxy Laboratories (2.15%), Tata Power (1.24%), BPCL (0.74%), Siemens (0.62%) and L&T (0.61%) moved higher.

Market breadth was negative on the BSE with 1740 losers against 1108 gainers.

European markets were in the green and US looks poised for a positive start. At 5 pm IST,Dow Jones futures was up 0.20 per cent, S&P 500 moved 0.36 per cent higher and Nasdaq gained 0.47 per cent.