makin97 NSETIPS @ RAKESH MAKIN: MARKET ENDED 25.03.2011 FRIDAY

Friday, March 25, 2011

MARKET ENDED 25.03.2011 FRIDAY

WERE TODAY'S GAINERS

MARKET ENDED 25.03.2010 FRIDAY

SENSEX 18815.64 +464.90

NIFTY 5654.25 +131.85

NASDAQ 2141.54 +17.78

UPDATEDTIME 09.28 PM 25 MARCH 2011

Benchmarks extended gains for fourth straight session and settled above crucial resistance levels taking cues from global peers. All the sectoral indices ended in the green with technology, banks and realty leading the rally.

According to experts, investors should keep in mind the political tension in the middle-east and European economic worries before buying stocks at higher levels.

Going ahead, we expect markets to move in line with global peers. However, India's vulnerability to crude prices remains much higher and hence the Sensex may underperform if there is a spike in crude prices. In the near-term, any easing of tensions in the Middle East and a consequent correction in crude prices would be perceived as positive for the Sensex.

Bombay Stock Exchange's Sensex ended at 18815.64, up 464.90 points or 2.53 per cent. The 30-share index touched a high of 18858.30 and low of 18480.69 in today's trade.

National Stock Exchange's Nifty closed at 5654.25, up 131.85 points or 2.39 per cent. The broader index touched a high of 5667.10 and low of 5560.95 intraday.

BSE Midcap Index was up 1 per cent and BSE Smallcap Index moved 1.02 per cent higher.

Amongst the sectoral indices, BSE IT Index was up 4.02 per cent, BSE Bankex and BSE Realty Index ended 2.72 per cent higher.

We prefer sectors like IT, capital goods and infrastructure, banking and media. We expect good set of numbers from the IT sector given robust IT spending outlook from the developed market.

The banking sector has underperformed on expectations of decline in NIMs, which have made valuations appealing. The capital goods and infrastructure sector has underperformed due to sluggish order intake and higher material prices. This sector remains a long term buy in view of huge infrastructure deficit in the country.

DLF (6.17%), Infosys Technologies (5.23%), NTPC (3.82%), Wipro (3.68%) and Tata Power (3.67%) were the top Nifty gainers.

Shares of IT companies moved higher as sentiments turned bullish following encouraging earnings and outlook by US technology companies.

Market breadth was positive on the BSE with 1727 gainers against 1199 losers.