makin97 NSETIPS @ RAKESH MAKIN: MARKET ENDED 16.02.2011WEDNESDAY

WERE TODAYS GAINERS

MARKET ENDED 16.02.2010 WEDNESDAY

SENSEX 18300.90 +27.10

NIFTY 5481.70 +00.70

NASDAQ 2825.22 +20.87

S&P 500 1336.79 +08.78

UPDATEDTIME 09.28 PM 16 FEB 2011

Benchmarks ended lackluster session on a flato-to-positive note as bulls took a breather after sharp spike in past few days. Meanwhile retail participation helped the broader markets outperform the main indices. Losses in pharmaceuticals, auto and oil&gas space were offset by gains in realty, metals and capital goods stocks.

Indices turned rangebound after a positive start due to lack of buying activity. Some spike was seen after the Prime Minister Manmohan Singh’s open session with editors of TV channels.

The Prime Minister said he was not afraid of appearing before any committee including the JPC. He added the government is making all efforts to ensure orderly functioning of the next session of parliament. He expects economic growth of 8.5 per cent and inflation at 7 per cent for the fiscal.

National Stock Exchange’s Nifty closed at 5481.70, up 0.70 points or 0.01 per cent. The broader index touched a low of 5460.35 and high of 5504.80 intraday.

Bombay Stock Exchange’s Sensex ended at 18300.90, up 27.10 points or 0.15 per cent. The broader index touched a low of 18358.84 and high of 18216.12 in today’s trade.

Market is expected to remain choppy for the next sessions. Nifty will only turn bullish if it manages to close above 5508. Past that, it can rally upto 200 DMA of 5625. On the lower side it will take support around 5400-5300. Stockwise, ABG Shipyard looks bullish and it can go up to Rs 380 levels,” said, Dipesh Dedhia, technical analyst, ULJK Securities .

BSE Midcap Index was up 0.53 per cent and BSE Smallcap Index moved 1.01 per cent higher.

Amongst sectoral indices, BSE Realty Index was up 2.12 per cent, BSE Metals Index gained 1.49 per cent and BSE Capital Goods Index moved 0.56 per cent higher. BSE Healthcare Index was down 0.58 per cent.

Jaiprakash Associates (6.56%), Tata Steel (4.47%), Jindal Steel (3.57%), Wipro (2.70%) and Ambuja Cement (2.56%) were amongst the major Nifty gainers.

HDFC (-2.72%), IDFC (-2.32%), HCL Tech (-2.05%), Sun Pharma (-1.99%) and Reliance Communications (-1.92%) were the top losers.

Tata Steel reported net profit of Rs 1513.46 crores for the quarter ended December 2010 against Rs 1191.75 crores in the same quarter a year ago. Net sales stood at Rs 7324.69 crores as compared to Rs 6307.48 crores in the same period previous fiscal.

Meanwhile, shares of fertliser companies moved higher after the Government of India decided to increase the subsidy rates under NBS w.e.f. 1st April 2011 – to compensate companies for higher raw material prices.

Shares of Coromandel International were up 7.53 per cent, Zuari Industries gained 4.17 per cent, GSFC gained 1.16 per cent and Fertiliser and Chemicals Travancore moved 3.96 per cent higher.