makin97 NSETIPS @ RAKESH MAKIN: MARKET ENDED 22 MARCH2011TUESDAY

Tuesday, March 22, 2011

MARKET ENDED 22 MARCH2011TUESDAY

WERE NIFTY GAINERS TODAY

MARKET ENDED 22.03.2010 TUESDAY

SENSEX 17833.49 +132.51

NIFTY 5413.85 +49.10

NASDAQ 2141.54 +17.78

DJIA 10060.06 +19.61

UPDATEDTIME 09.28 PM 22 MARCH 2011

Indian markets snapped three-day losing streak and ended on firm note taking cues from positive global peers. All the sectoral indices ended in the green with realty, auto and pharmaceutical stocks leading the upmove.

Benchmarks witnessed some buying action after a sluggish session on positive reports coming from Japan's Fukushima nuclear plant. According to latest reports power lines have been connected to all six reactor units but it will take some time before electricity is supplied to the reactors.

Meanwhile the situation in the middle-east continues to remain grim and the bulls may get trapped at higher levels. The US and allies have been conducting night air-raids on Libya triggering spike in crude oil prices.

According to analysts, the market is moving in a range due to lack of buying interests thus both traders and investors should be cautious before taking positions.

National Stock Exchange's Nifty ended at 5413.85, up 49.10 points or 0.92 per cent. The broader index touched a low of 5376.15 and high of 5428.15 intraday.

Bombay Stock Exchange's Sensex closed at 17988.30, up 149.25 points or 0.84 per cent. The 30-share index touched a high of 18041.38 and low of 17878.80 in today's trade.

"Market is stuck in a range with positive bias between 5350-5510. Any move on either side will trigger a sharp 200 points move. Reliance Industries, SBI and Bharti Airtel look good from frontline space. We are bullish on Coal India, Hitachi, Crompton Greaves, Voltas, Whirlpool and Havell India from midcap space.

Pharmaceutical stocks are likely to move higher. Aurobindo Pharma, Fortis Healthcare, Lupin and Sun Pharma are good picks to pick from the sector.

Banks and realty stocks are showing slightly positive bias. ICICI Bank, Axis Bank , Yes Bank , Anantraj Industries, DLF and Indiabull RealEstate are looking strong.

Buying activity was seen in pharmaceutical stocks after finance minister Pranab Mukherjee withdrew the proposed 5 per cent service tax on hospitals and diagonistic services.

BSE Midcap Index was up 0.79 per cent and BSE Smallcap Index moved 0.54 per cent higher.

Amongst the sectoral indices, BSE Realty Index was up 2.19 per cent, BSE Auto Index moved 1.53 per cent higher and BSE Healthcare Index gained 1.10 per cent.

Maruti (4.08%), Bharti Airtel (3.25%), DLF (2.91%), Ambuja Cement (2.40%) and Jaiprakash Associates (2.29%) were the top Nifty gainers.

Suzlon Energy (-0.98%), ICICI Bank (-0.16%) HDFC Bank (-0.11%), Power Grid (-0.10%) and TCS (-0.10%) were the only losers.

Market breadth was positive on the BSE with 1553 advances against 1308 declines.