makin97 NSETIPS @ RAKESH MAKIN: MARKET ENDED 31.03.2011 THURSDAY

Thursday, March 31, 2011

MARKET ENDED 31.03.2011 THURSDAY

WERE TODAY'S GAINERS

MARKET ENDED31.03.2010 THURSDAY

SENSEX 19445.22 +155.04

NIFTY 5833.75 +46.10

NASDAQ 2141.54 +17.78

UPDATEDTIME 09.28 PM 31 MARCH 2011

Benchmarks ended in the positive territory, on the settlement day of March series F&O expiry, extending winning streak for eighth straight session. The rally in frontline stocks has been fuelled by the return of foreign institutional investors pumping dollars in the Indian market.

The indices opened on a positive note in line with peers and gained momentum after food inflation dipped to 9.5 per cent for the week ended March 19 as compared to 10.05 per cent a week ago.

However, profit booking emerged near resistance levels and benchmarks turned volatile towards the end of session.

Bombay Stock Exchange's Sensex closed at 19445.22, up 155.04 points or 0.80 per cent. The 30-share index touched a high of 19575.16 and low of 19284.35 in today's trade.

National Stock Exchange's Nifty ended at 5833.75, up 46.10 points or 0.80 per cent. The broader index touched a high of 5872 and low of 5778.65 intraday.

Roll-overs have been positive and encouraging. But we are at critical junction of 5850 and the market can swing either side from here. If the Nifty manages to breach this level then can move to 6100 and if it fails to hold on then it can slip back to 5400 levels.

We are negative on HDFC and expect it to underperform the Nifty going forward.

BSE Midcap Index was up 0.29 per cent and BSE Smallcap Index moved 0.21 per cent higher.

Amongst the sectoral indices, BSE IT Index was up 1.92 per cent, BSE FMCG Index gained 1.67 per cent and BSE Oil&gas Index moved 1.44 per cent higher. BSE Bankex was down 0.70 per cent and BSE Healthcare Index slipped 0.35 per cent.

Sensex gainers included Bajaj Auto (2.90%), ONGC (2.76%), TCS (2.71%), HUL (2.50%) and Hero Honda (2.23%).

SBI (-3.19%), Cipla (-2.01%), Reliance Communications (-2%), M&M (-1.61%) and Maruti (-0.95%) were the top losers.

The Central Bureau of Investigation is likely to chargesheet three officials of the Anil Dhirubhai Ambani Group ( ADAG )) and senior executives of real estate firm Unitech on April 2.

Market breadth was flat on the BSE with 1444 advances against 1412 declines.

Meanwhile, the European markets were in the red and the Wall Street futures indicated a positive start. At 5 pm IST , Dow Jones futures was up 0.07 per cent, S&P 500 moved 0.02 per cent higher and Nasdaq was up 0.01 per cent. Regards