SENSEX 17705.01 -99.79
NIFTY 5326.60
-34.10
USD/INR 0049.69 -00.13
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UPDATEDTIME 09.28 PM 31 OCTOBER 2011
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The Bombay
Stock Exchange's Sensex snapped four-day winning streak and ended choppy
session on a negative note in absence of positive cues from peers. Rally was
seen in banking stocks on the back of good second quarter results while the
metal stocks, which had run-up after the European Union summit, slipped on profit
booking.
According to experts, with earnings season coming to an end, the market is likely to consolidate in the near term before next leg of up move. The risk-appetite seems to be back and may drive the markets higher.
The Sensex ended at 17705.01, down 99.79 points or 0.56 per cent. The 30-share index touched intraday low of 17668.27 and high of 17813.11.
The National Stock Exchange's Nifty ended at 5326.60, down 34.10 points or 0.64 per cent. The broader index touched a high of 5360.25 and low of 5314.60 in trade today.
"For the coming week of course the level of 5415 will play an important role to keep the market down but on the dismissal of the same will result into quick succession to 5500 levels. On the lower side 5335 and 5270 will act as a major support. Any weak opening will be an opportunity to buy at above mentioned support with a final target of 5450 and 5500 on the higher side.
Sector specific we should concentrate on IT sector as the dollar is not easily going to give up. It will oscillate between the range of 48.00 and 49.70. In that space be a buyer for Infosys and TCS at each major supports.
Even metal space seems to be highly oversold and may out perform in the near term. Hindalco can do well. Out of auto and banking sectors few stocks can perform as they are supporting with expansion in volumes. In that space M&M and Yes bank are our top picks.
BSE Midcap Index was up 0.37 per cent and BSE Smallcap Index moved 0.21 per cent higher.
BSE Oil&gas Index moved 2.09 per cent lower, BSE Metal Index was down 1.97 per cent and BSE Auto Index declined 0.98 per cent. BSE FMCG Index was up 1.04 per cent and BSE Bankex gained 0.72 per cent.
Hindalco Industries (-4.11%), Sterlite Industries (-4.10%), Tata Motors (-3.76%), Jindal Steel (-2.87%) and BHEL (-2.86%) were amongst the major Sensex losers.
Hindustan Unilever (7.38%), HDFC Bank (1.36%), Hero MotoCorp (0.84%), Infosys Technologies (0.54%) and Tata Steel (0.49%) were amongst the major Sensex gainers.
Hindustan Unilever reported standalone net profit of Rs 688.92 crore for quarter ended September 2011 against Rs 566.12 crore in the same quarter a year ago. Net sales were at Rs 5522.16 crore as compared to Rs 4680.87 crore.
Wipro reported standalone net profit of Rs 1050.60 crore for quarter ended September 2011 against Rs 1219.30 crore last quarter. Net sales were at Rs 7804.80 crore as compared to Rs 7311.30 crore a quarter ago.
Banks like Bank of Baroda, Indian Bank and Vijaya Bank were in demand after reporting better quarterly results.
ICICI Bank beat street estimates but ended marginally in the red on account of profit booking. The company reported standalone net profit of Rs 1503.19 crore for quarter ended September 2011 as compared to Rs 1236.27 crore in the same period a year ago. Interest earned was at Rs 8157.62 crore as compared to Rs 7618.52 crore in the corresponding quarter a year ago.
Vijaya Bank reported standalone Net profit of Rs 203.53 crore for quarter ended September 2011 against Rs 144.31 crore in the same quarter a year ago. Interest earned was at Rs 1992.66 crore as compared to Rs 1403.24 crore.
Bank of Baroda reported net profit of Rs 1166 crore for quarter ended September 2011 up 14.4 per cent as compared to Rs 1019 crore in the same period a year ago. Net interest income rose to Rs 2566.5 crore, up 26 per cent against Rs 2038 crore in the corresponding quarter last fiscal.
UCO Bank reported standalone net profit of Rs 230.75 crore for quarter ended September 2011 against Rs 119.19 crore in the same quarter last fiscal. Interest income stood at Rs 3527.99 crore for the quarter against Rs 2735.23 crore in the corresponding quarter a year ago.
Market breadth was positive on the BSE with 1494 gainers against 1354 losers.
Regards
According to experts, with earnings season coming to an end, the market is likely to consolidate in the near term before next leg of up move. The risk-appetite seems to be back and may drive the markets higher.
The Sensex ended at 17705.01, down 99.79 points or 0.56 per cent. The 30-share index touched intraday low of 17668.27 and high of 17813.11.
The National Stock Exchange's Nifty ended at 5326.60, down 34.10 points or 0.64 per cent. The broader index touched a high of 5360.25 and low of 5314.60 in trade today.
"For the coming week of course the level of 5415 will play an important role to keep the market down but on the dismissal of the same will result into quick succession to 5500 levels. On the lower side 5335 and 5270 will act as a major support. Any weak opening will be an opportunity to buy at above mentioned support with a final target of 5450 and 5500 on the higher side.
Sector specific we should concentrate on IT sector as the dollar is not easily going to give up. It will oscillate between the range of 48.00 and 49.70. In that space be a buyer for Infosys and TCS at each major supports.
Even metal space seems to be highly oversold and may out perform in the near term. Hindalco can do well. Out of auto and banking sectors few stocks can perform as they are supporting with expansion in volumes. In that space M&M and Yes bank are our top picks.
BSE Midcap Index was up 0.37 per cent and BSE Smallcap Index moved 0.21 per cent higher.
BSE Oil&gas Index moved 2.09 per cent lower, BSE Metal Index was down 1.97 per cent and BSE Auto Index declined 0.98 per cent. BSE FMCG Index was up 1.04 per cent and BSE Bankex gained 0.72 per cent.
Hindalco Industries (-4.11%), Sterlite Industries (-4.10%), Tata Motors (-3.76%), Jindal Steel (-2.87%) and BHEL (-2.86%) were amongst the major Sensex losers.
Hindustan Unilever (7.38%), HDFC Bank (1.36%), Hero MotoCorp (0.84%), Infosys Technologies (0.54%) and Tata Steel (0.49%) were amongst the major Sensex gainers.
Hindustan Unilever reported standalone net profit of Rs 688.92 crore for quarter ended September 2011 against Rs 566.12 crore in the same quarter a year ago. Net sales were at Rs 5522.16 crore as compared to Rs 4680.87 crore.
Wipro reported standalone net profit of Rs 1050.60 crore for quarter ended September 2011 against Rs 1219.30 crore last quarter. Net sales were at Rs 7804.80 crore as compared to Rs 7311.30 crore a quarter ago.
Banks like Bank of Baroda, Indian Bank and Vijaya Bank were in demand after reporting better quarterly results.
ICICI Bank beat street estimates but ended marginally in the red on account of profit booking. The company reported standalone net profit of Rs 1503.19 crore for quarter ended September 2011 as compared to Rs 1236.27 crore in the same period a year ago. Interest earned was at Rs 8157.62 crore as compared to Rs 7618.52 crore in the corresponding quarter a year ago.
Vijaya Bank reported standalone Net profit of Rs 203.53 crore for quarter ended September 2011 against Rs 144.31 crore in the same quarter a year ago. Interest earned was at Rs 1992.66 crore as compared to Rs 1403.24 crore.
Bank of Baroda reported net profit of Rs 1166 crore for quarter ended September 2011 up 14.4 per cent as compared to Rs 1019 crore in the same period a year ago. Net interest income rose to Rs 2566.5 crore, up 26 per cent against Rs 2038 crore in the corresponding quarter last fiscal.
UCO Bank reported standalone net profit of Rs 230.75 crore for quarter ended September 2011 against Rs 119.19 crore in the same quarter last fiscal. Interest income stood at Rs 3527.99 crore for the quarter against Rs 2735.23 crore in the corresponding quarter a year ago.
Market breadth was positive on the BSE with 1494 gainers against 1354 losers.
Regards
RAKESH MAKIN
+91,
9041667797(DIRECT), 9915684997
OFF
0172-4657997
PANCHKULA (Haryana).
Email:makin_97@yahoo.com
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