makin97 NSETIPS @ RAKESH MAKIN: MARKET ENDED 05.04.2011 TUESDAY

Tuesday, April 5, 2011

MARKET ENDED 05.04.2011 TUESDAY

WERE TODAY'S GAINERS

MARKET ENDED 05.04.2010 TUESDAY

SENSEX 19686.82 -14.91

NIFTY 5910.05 +01.60

NASDAQ 2802.21 +13.02

UPDATEDTIME 09.28 PM 05 APRAIL 2011

Benchmarks bounced back from day's low in the last hour of trade and ended on a flat note. Losses in oil&gas, FMCG and banks were offset by gains in metals, realty and technology stocks.

Nifty closed with marginal gains after being down almost 50 points. The optimism remained in place as are results likely to be good. Nifty 5825-5850 is likely to act as support till the results starts flowing in. Banking, IT and infra stocks may remain positive in coming days.

National Stock Exchange's Nifty ended at 5910.05, up 1.60 points or 0.03 per cent. The broader index touched a high of 5928.65 and low of 5855.85 in today's trade.

Bombay Stock Exchange's Sensex closed at 19686.82, down 14.91 points or 0.08 per cent. The index touched intraday low of 19523.54 and high of 19770.21.

Nifty has moved by more than 600 points in last ten sessions and it is trading on overbought zone so a small correction or profit booking cannot be ruled out in the market.

On option front maximum call writing is seen at 6000 levels, indicating strong resistance around those levels. Till the time Nifty holds above 5850 levels we are in safe zone and stock specific buying interest may continue in the market, but below that selling pressure may intensify towards 5750-5700 levels. If it manages to hold 5900 levels then rally may continue towards 6000-6050 levels.

BSE Midcap Index was up 0.79 per cent and BSE Smallcap Index moved 1.38 per cent higher.

Amongst the sectoral indices, BSE Metal Index was up 1.21 per cent, BSE Realty Index advanced 0.60 per cent and BSE IT Index gained 0.51 per cent. BSE Oil&gas Index was down 0.46 per cent and BSE FMCG Index slipped 0.40 per cent.

Sensex losers included Tata Power (-1.72%), L&T (-1.39%), M&M (-1.39%), Hindustan Unilever (-1.23%) and HDFC (-1.06%).

Sterlite Industries (2.77%), Reliance Communications (2.34%), TCS (2.22%), Tata Motors (2.01%) and Cipla (1.66%) were the top gainers.

Market breadth was positive on the BSE with 1985 advances against 944 declines.