makin97 NSETIPS @ RAKESH MAKIN: MARKET ENDED 19.07.2011 TUESDAY

Tuesday, July 19, 2011

MARKET ENDED 19.07.2011 TUESDAY

WERE TODAY'S NIFTY GAINERS

MARKET ENDED 19.07.2010 TUESDAY

SENSEX 18653.87 +146.83

NIFTY 5613.55 +46.50

NASDAQ 2804.90 +39.79

UPDATEDTIME 09.28 PM 19 JULY 2011

Indian markets broke out of choppy session and ended in the positive terrain as gains in the European markets boosted sentiments. The upmove was led by gains in technology, realty and metals while power, auto and capital goods stocks edged lower.

Benchmarks opened on a positive note and turned rangebound due to lack of direction and buying activity as wary investors stayed on sidelines on concerns of European debt crisis and US debt default. Stock specific movement was seen in companies which reported quarterly results. However, positive opening of European markets provided support and the benchmarks closed comfortable above intermediate resistance levels.

According to analysts, investors should remain cautious as the medium term view remains negative.

National Stock Exchange's Nifty ended at 5,613.55, up 46.50 points or 0.84 per cent. The broader index touched a high of 5627.65 and low of 5557.20 in trade today.

Bombay Stock Exchange's Sensex ended at 18653.87, up 146.83 points or 0.79 per cent. The 30-share index touched intraday low of 18481.83 and high of 18690.42.

"As long as we trade below 5700-5750, the medium term view remains negative. A break below 5496 could have a domino effect and the green trend channel supports at 5340 can than be violated, opening up 5200 .

BSE Midcap Index was up 0.41 per cent and BSE Smallcap Index moved 0.82 per cent higher.

Amongst sectoral indices BSE IT Index was up 1.17 per cent, BSE Realty Index gained 1.12 per cent and BSE Metal Index moved 0.90 per cent higher. BSE Auto Index was down 0.43 per cent, BSE Power Index edged 0.26 per cent lower and BSE Capital Goods Index slipped 0.13 per cent.

Kotak Bank (2.61%), DLF (2.30%), Sterlite Industries (2.02%), Sun Pharma (1.86%) and Cairn India (1.70%) were the major Nifty gainers.

Shares of HDFC Bank hit a record high of Rs 519.50 in early trade ahead of the first quarter results. The bank reported net profit to Rs 1,085 crore for the quarter ended June, 2011 against Rs 811 crore in the same quarter a year ago. Total income rose to Rs 7,098 crore from Rs 5,410 crore in the same period last year.

Tata Motors (-1.60%) Hero Honda (-1.20%), Maruti (-1.13%), HDFC Bank (-0.79%), and Hindustan Unilever (-0.71%) were amongst the top losers.

Market breadth was positive on the NSE with 1691 gainers against 1233 losers.

The European markets were witnessing a pull-back rally and the US is likely to follow suit.