WERE TODAY'S GAINERS 
MARKET ENDED 30.05.2010 MONDAY
SENSEX 18232.06 -34.04
NIFTY 5473.10 -03.00
NASDAQ 2796.86 +13.94
| UPDATEDTIME 09.28 PM 30 MAY 2011 |
Benchmarks snapped two-day winning streak and ended choppy session in the negative terrain due to lack of buying support near resistance levels and weak cues from global peers. However, participation was seen in broader markets as midcaps and smallcap stocks outshone the benchmarks. According to market experts, investors should start identifying good quality midcap stocks as they are likely to outperform once the market conditions turn favorable.
"The valuation discount between mid-cap and large-caps has widened and probably it might widen some more as the market environment continues to settle down in next three to six months. But we think that at this point in time you will find good quality mid-cap stocks where there is a good value, comfort around future prospects.
So this is a time to start evaluating good quality, high quality ideas and build your position in next three to six months because when the market environment turns back, the mid-cap stocks typically tend to outperform large caps significantly and it becomes very difficult to build sizable positions in these stocks.
The market opened on a positive note and turned lackluster due to lack of buying momentum. While the investors rejoiced early onset of monsoon in Kerala two days ahead of forecast, concerns of hike in diesel, kerosene and LPG prices kept the bulls under check.
Bombay Stock Exchange's Sensex closed at 18232.06, down 34.04 points or 0.19 per cent. The 30-share index hit a high of 18380.17 and low of 18199.52 in trade today.
National Stock Exchange's Nifty ended at 5473.10, down 3 points or 0.05 per cent. The broader index touched a high of 5509.30 and low of 5458.60 intraday.
"The coming week is likely to witness a range of 5600 on the upside as long as the Nifty stays above the bullish pivot at the 5425 mark. In case of declines, the Nifty is likely to test a level of 5225 as long as the bears keep the Nifty below the 5375 levels. Adventurous traders with a higher risk appetite may venture small sized buys in the first half of the week.
BSE Midcap Index was up 0.85 per cent and BSE Smallcap Index moved 0.55 per cent higher.
Amongst sectoral indices, BSE Auto Index was down 1.50 per cent, BSE Oil&gas Index moved 0.64 per cent lower and BSE Capital Goods Index declined 0.30 per cent. BSE Healthcare Index was up 2.24 per cent, BSE Realty Index moved 1.77 per cent higher and BSE Bankex advanced 0.50 per cent.
M&M (-5.34%), Hindalc (-2.33%), ONGC (-1.63%), Tata Motors (-0.96%) and Jindal Steel (-0.96%) were the top Sensex losers.
Mahindra & Mahindra posted net profit of Rs 606.54 crore for the quarter ended March 31, 2011 as compared to Rs 570.26 crore in the same quarter a year ago. Total Income increased to Rs 6825.57 crore from Rs 5322.75 crore.
Hindalco reported standalone net profit of Rs 2136.92 crore for the year ended March 31, 2011 as compared to Rs 1915.63 crore in the same period a year ago. Net sales were at Rs 23859.21 crore from Rs 19522.09 crore previous fiscal.
Cipla (3.55%), Reliance Communications (2.94%), DLF (2.58%), HDFC (1.90%) and Bajaj Auto (1.03%) were the major gainers.
DLF plans to sell developed properties including five IT parks and its hotel business hoping to mop up Rs 7000 crore in the next two years and reduce its burgeoning gross debt of Rs 23990 crore.
Market breadth was positive on the BSE with 1629 advances as compared to 1150 declines.
Regards
RAKESH MAKIN
+91 9915684997, 9041667797(DIRECT)
OFF 0172-4657997
PANCHKULA (Haryana).
Email:makin_97@yahoo.com
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WERE TODAY'S GAINERS
