makin97 NSETIPS @ RAKESH MAKIN: MARKET ENDED 01.04.2011 FRIDAY

Friday, April 1, 2011

MARKET ENDED 01.04.2011 FRIDAY

WERE TODAY'S GAINERS

MARKET ENDED01.04.2010 FRIDAY

SENSEX 19420.39 -24.83

NIFTY 5826.05 -07.70

NASDAQ 2800.94 +19.87

UPDATEDTIME 09.28 PM 01 APRAIL 2011

Benchmarks ended lackluster session marginally in the red as bulls ran out of steam after eight-day long winning streak. Buying activity was seen in broader markets as the investors turned focus on midcaps and smallcaps after sharp rise in frontline stocks.

According to experts, the market may witness some upmove in the short-term on the back of dollar inflows from foreign institutional investors but rising crude oil prices and inflation worries may play spoil sport.

"During the past two weeks, FIIs have pumped in close to $2 billion surprising even the most optimistic investor. The Indian markets had underperformed the global peers and were reasonably valued, which may have attracted FII interest. However, the fundamental concerns relating to inflation and interest rates still persist, leading to doubts over the durability of this rally.

In the short-term, it is likely that the markets may take a breather after strong rally. But if the momentum in FII flow remains strong, then we may even see higher levels in the coming week. In all probability, we expect the action to shift to mid and small cap companies that have been severely de-rated in the past few months.

We continue to maintain favourable view on IT, media and banking. We also remain positive on a longer term over capital goods and infrastructure.

Bombay Stock Exchange's Sensex closed at 19420.39, down 24.83 points or 0.13 per cent. The 30-share index touched a high of 19562.55 and low of 19382.35 in today's trade.

National Stock Exchange's Nifty ended at 5826.05, down 7.70 points or 0.13 per cent. The broader index touched a high of 5860.20 and low of 5810.40 intraday.

BSE Midcap Index was up 1.59 per cent and BSE Smallcap Index rallied 2.23 per cent.

Amongst the sectoral indices, BSE Realty Index was up 2.60 per cent, BSE Metal Index gained 1.15 per cent and BSE Power Index moved 0.93 per cent higher. BSE Bankex was down 0.83 per cent, BSE Oil&gas Index was down 0.59% and BSE IT Index slipped 0.47 per cent.

Punjab National Bank (-2.79%), HCL Tech (-2.44%), NTPC (-2.25%), State Bank of India (-1.57%) and Kotak Bank (-1.50%) were the top Nifty losers.

Reliance Capital (5.36%), IDFC (3.95%), Reliance Communications (3.76%), Jaiprakash Associates (3.13%) and Power Grid Corporation (3.09%) were the top gainers.

Market breadth was positive on the NSE with 2186 advances against 695 declines.