makin97 NSETIPS @ RAKESH MAKIN: MARKET ENDED 30.03.2011 WEDNESDAY

Wednesday, March 30, 2011

MARKET ENDED 30.03.2011 WEDNESDAY

WERE TODAY'S GAINERS

MARKET ENDED 30.03.2010 WEDNESDAY

SENSEX 19290.18 +169.38

NIFTY 5787.65 +51.30

NASDAQ 2772.11 +15.22

UPDATEDTIME 09.28 PM 30 MARCH 2011

Sustained buying activity from the institutional players helped the Indian markets to end higher for seventh straight session. Positive cues from global peers and subdued crude oil prices also provided support.

Benchmarks opened in the green and moved higher led by realty, healthcare and metals stocks. However, the indices failed to sustain above psychological resistance. According to experts, the upmove is expected to continue next week as well.

The market is expected to touch 5900 levels in the short-term but will find difficult to sustain as profit booking. Stock specific longs are recommended in Jaiprakash Associates, HDIL, Indiabulls Real Estate and PFC. Midcap banking stocks also look good.

Investors can adopt buy-on-dips strategy in IT stocks likes Infosys and TCS. The range for next week is between 5650-5900.

National Stock Exchange's Nifty closed at 5787.65, up 51.30 points or 0.89 per cent. The broader index touched a high of 5803.15 and low of 5753.90 intraday.

Bombay Stock Exchange's Sensex ended at 19290.18, up 169.38 points or 0.89 per cent. The 30-share index touched a high of 19357.10 and low of 19178.77 in today's trade.

BSE Midcap Index was up 1.51 per cent and BSE Smallcap Index moved 2.20 per cent higher.

Amongst the sectoral indices, BSE Realty Index was up 3.14 per cent, BSE Healthcare Index gained 1.95 per cent and BSE Bankex moved 1.67 per cent higher. BSE FMCG Index declined 0.38 per cent.

Nifty gainers included Ambuja Cement (9.42%), DLF (4.70%), PNB (4.68%), Jaiprakash Associates (4.52%) and ACC (4.03%).

Hindalco Industries (-1.15%), Cairn India (-1.14%), SAIL (-1.09%), IDFC (-0.57%) and Reliance Capital (-0.55%) were the top losers.

Market breadth was positive on the NSE with 2062 gainers against 807 losers.

Crude oil prices declined and remained below $105 per barrel mark following rise in the US oil inventories. New York's light sweet crude for delivery in May, slipped to $104.64 per barrel.