makin97 NSETIPS @ RAKESH MAKIN: MARKET ENDED 19.04.2011 TUESDAY

Tuesday, April 19, 2011

MARKET ENDED 19.04.2011 TUESDAY

WERE TODAY'S GAINERS

MARKET ENDED 19.04.2010 TUESDAY

SENSEX 19121.83 +30.66

NIFTY 5740.75 +11.65

NASDAQ 2727.63 -07.75

UPDATEDTIME 09.28 PM 19 APRAIL 2011

Benchmarks ended a volatile session on positive note as weak global cues and lack of confidence after a two-day correction kept investors on side-lines. Oil & gas, realty and banking stocks led the gainers pack while FMCG, power and auto stocks lagged behind.

Market opened on a sluggish note and slipped in the red in line with peers after Standard & Poor's downgraded US debt outlook to negative from stable. However, some buying activity emerged near support levels and the indices bounced back to turn rangebound throughout the session.

National Stock Exchange's Nifty closed at 5740.75, up 11.65 points or 0.20 per cent. The broader index touched a high of 5762.95 and low of 5693.25 intraday.

Bombay Stock Exchange's Sensex ended at 19121.83, up 30.66 points or 0.16 per cent. The 30-share index hit a high of 19201.92 and low of 18976.19 in today's trade.

"We are looking at 5650-5700 as good support for the Nifty. As long as these levels are not violated, the index is likely to move towards 5850-5900. Barring metals, we are bullish on rest of the sectors.

BSE Midcap Index was up 0.36 per cent and BSE Smallcap Index moved 0.29 per cent higher.

Amongst the sectoral indices, BSE Oil&gas Index was up 0.62 per cent, BSE Bankex moved up 0.50 per cent and BSE Realty Index inched 0.36 per cent higher. BSE FMCG Index was down 0.89 per cent, BSE Power Index fell 0.86 per cent and BSE Auto Index slipped 0.39 per cent.

IDFC (3.05%), HCL Tech (3.03%), BPCL (2.69%) Cairn India (2.45%) and Bharti Airtel (2.44%) were the top Nifty gainers.

HDFC Bank's quarterly earnings beat market expectations with a 33% jump on strong loan growth and higher fee income. The bank said it will split stock for the first time to lure retail investors. Net profit for the March quarter rose to Rs 1,114.7 crore, up from Rs 836.62 crore, a year earlier. It decided to pay a dividend of Rs 16.50 a share and split shares into five-for-one, with a face value of Rs 2 apiece. The scrip ended 1.48 per cent higher on the NSE.

Hero Honda (-5.25%), Grasim (-2.87%), BHEL (-2.29%), Kotak Bank (-1.57%) and Dr Reddy's Laboratories (-1.45%) were the top losers.

Market breadth was flat on the NSE with 1496 declines against 1433 advances.

Meanwhile, the European markets were in the green and the US stock futures also indicated a positive start. At 5:10 pm IST; Dow Jones futures was up 0.15 per cent, S&P 500 moved 0.08 per cent higher and Nasdaq gained 0.10 per cent.