Market Outlook—February 10, 2010

Dealer’s Diary

The benchmark indices had a dull start after the US market suffered a severe setback yesterday, with the Dow sliding below the 10,000 mark. However, after a strong intraday rebound in morning trade, the market erased all its gains and slipped into the red briefly in mid-morning trade. Sustained buying demand in select pivotals and a rebound in Asian indices triggered a recovery in early afternoon trade. The BSE Sensex and NSE Nifty were up by 0.7% each. The BSE Mid-cap and Small-cap indices were up by 0.4% each. Among the front-liners, Grasim, ACC, Infosys, Wipro and Sun Pharma were up by 2-5%, while DLF, Hindalco, M&M, HUL and Maruti Suzuki were down by 1-2%. In the mid-cap segment HMT, STC, Patni Computers, National Fertilizers and BGR Energy were up by 6-11%, while Gujarat NRE Coke, Info Edge India, Petronet LNG, Parsvnath Developers and Indiabulls Real Estate were down by 3-6%.

Markets Today

The trend deciding level for the day is 16000/4781 levels. NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 16137–16231/4822–4852 levels. However, if NIFTY trades below 16000/4781 levels for the first half-an-hour of trade then it may correct up to 15905–15769/4751–4710 levels.

Economic and Political News

Oil below $72 in Asian trade

Auto sales cross record 11 lakh units in January

Government mulls Rs50,000cr debt fund for infrastructure projects

Corporate News

ADAG firm hikes stake in Fame India by 2% through open market purchase

SAIL Bhilai unit set to return to normal production

L&T bags Rs582cr orders for execution of Electrical Projects

Market Outlook—February 9, 2010

Dealer’s Diary
The benchmark indices logged marginal gains after swinging sharply in highly volatile trade. IT stocks played the lead role in the recovery; however, metal pivotals remained subdued, as metal prices fell on the LMEX. Telecom stocks advanced on bargain hunting. Rate-sensitive banking shares recovered from the day's low, while auto stocks were mixed. The BSE Sensex and the NSE Nifty rose by a marginal 0.1% each. The BSE Mid-cap and Small-cap indices were down by 0.1% each. Among the front-liners, Bharti Airtel, RCOM, ONGC, HLL and M&M were up by 2-3%, while Tata Steel, Hindalco, Wipro, Jaiprakash Associates and NTPC were down by 1-4%. In the mid-cap segment Chambal Fertilisers, Nagarjuna Fertilisers, Core Projects, Kansai Nerolac, Procter & Gamble were up by 5-7%, while Indraprashtha Gas, Gujarat NRE Coke, Torrent Pharma, Spice Communications and REI Agro, were down by 4-9%.

Markets Today

The trend deciding level for the day is 15883/4745 levels. NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 16114–16292/4815–4869 levels. However, if NIFTY trades below 15883/4745 levels for the first half-an-hour of trade then it may correct up to 15705–15474/4691–4621 levels.
Economic and Political News
Finance Ministry allows IRFC to issue Rs5,000cr tax free bonds
Bulk drug exports hit by government’s 15% value-addition directive
April’09-Jan’10 Steel consumption up 7.9% yoy
Corporate News
Sadbhav Engineering Bags Order worth Rs137cr
Bajaj Electricals to take controlling stake in Starlite Lighting
GMR plans to raise Rs1,500cr from PE companies

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Market Outlook—February 8, 2010

Dealer’s Diary
The NSE and the BSE held a special, 90-minute trading session on February 6, 2010, to enable the NSE to test an upgraded trading system. The benchmark indices jumped during this session, tracking a strong intraday rebound of US stocks on the 5th of February. Metal, realty, infrastructure, IT, auto and banking stocks gained. All the sectoral indices on the BSE were in the green. The BSE Sensex and the NSE Nifty surged by 0.8% each. The BSE Mid-cap and Smallcap indices were up by 1.4% and 1.5%, respectively. Among the front-liners, Hindalco, JP Associates, Sterlite, DLF and Infosys were up by 2-2.4%, while Hero Honda and Bharti Airtel were down by 0-0.2%. In the mid cap segment, Asian Star, United Breweries, Info Edge India, Ipca Labs and Infotech Enterprises were down by 2-4%, while Indraprashtha Gas, Gujarat Gas, Spice Comm., Monsanto India, and Eicher Motors were up by 7-12%.

Markets Today

The trend deciding level for the day is 15891/4746 levels. NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 15975-16035/4779-4801 levels. However, if NIFTY trades below 15891/4746 levels for the first half-an-hour of trade then it may correct up to 15832–15748/4724–4691 levels.
Economic and Political News
• Railway infrastructure projects go off track
• Infra investment doubles to 8% in 5 years: Plan Panel
• Govt. to set up Rs4,000cr international shipyard
Corporate News
• NTPC's Tapovan Vishnugad project hits roadblock
• Pipavav to ramp up headcount by 8,500 in 3 yrs
• Kingfisher Airlines hires US firm to revamp ops

Market Outlook—February 6, 2010

Dealer’s Diary

The benchmark indices opened gap down, following the global meltdown triggered by mounting concerns over European debt crisis, indications of weak US job data and a crash in commodity and energy prices. However, the market recovered from lower levels in mid-morning trade but fresh selling at every small rise pulled the market near day's low in early afternoon trade. A weak start from European markets triggered a sell-off on the bourses in mid-afternoon trade. Sustained selling pressure in pivotals kept the market depressed in late trade. The market breadth was extremely weak. The BSE Sensex and NSE Nifty fell by 2.7% and 2.6% respectively. The BSE Mid-cap and Small-cap indices were down 2.6% and 3.2% respectively. Among the frontliners, Tata Power was up by 1%, while Hindalco Industries, Tata Steel, ONGC, Jaiprakash Associates and M&M were down by 4-6%. In the Mid-cap segment Torrent Pharma, United Breweries, KGN Industries, Godrej Consumer and Kirloskar Oil were up by 3-5%, while Jai Corp, National Fertilizer, Bombay Dyeing, Jagran Prakashan and Shriram Transport were down by 7-9%.

Markets Today

The trend deciding level for the day is 15913/4746 levels. NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 16101–16410/4800–4881 levels. However, if NIFTY trades below 15913/4746 levels for the first half-an-hour of trade then it may correct up to15603-15416/4665–4611 levels.

Economic and Political News

RBI says interest rates for short-term loans may go up

FIPB will be empowered to clear Rs 1,200-cr proposals

Corporate News

Renuka Sugars to submit final bid for Brazilian co next week

SpiceJet looks to rope in new investor as Istithmar exits

M&M in global tie-up talks for premium bikes for Indian market

Tata Steel India sales up 9 pct in January

EIIL looking to acquire Rs 200-crore firm in FMCG market

Bse Nse Live Market

Market Outlook—February 5, 2010

Dealer’s Diary

A late sell-off in the index pivotals pulled the key benchmark indices to the day's low. The market drifted lower in early trade, tracking weak Asian stocks. However, after a strong intraday rebound in mid-morning trade, the market once again lost ground in early afternoon trade. Fresh selling in mid-afternoon trade pulled the benchmark indices to the day's low. The BSE Sensex and the NSE Nifty fell by 1.6% and 1.8%, respectively. The BSE Mid-cap and Small-cap indices lost 1.9% and 1.6%, respectively. Among the front-liners, ONGC, ITC and Hero Honda were up by 0-1%, while Hindalco, Jaiprakash Associates, Tata Motors, DLF and Tata Steel were down by 4-6%. In the mid cap segment, United Breweries, P&G, KGN, Info Edge India and Mcleod Russel were up by 4- 6%, while CMC, JP Hydro, Prakash Industries, Polaris Software and Kingfisher Airlines were down by 6-7%.

Markets Today
The trend deciding level for the day is 16307/4870 levels. NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 16426–16627/4907–4969 levels. However, if NIFTY trades below 16307/4870 levels for the first half-an-hour of trade then it may correct up to16106–15988/4808–4771 levels.

Economic and Political News

FDI inflows rise 10% to $1.5bn in December
Central Registry on cards to prevent home loan frauds
DoT raises entry fee for ISP licence
Decision on Parikh Panel report likely before Budget: Government
Corporate News
Israel court bars Sun from hiking stake in Taro
DB Realty fixes issue price at Rs468
Dalmia Cement raises stake in OCL India to 45.4%
Kiri Dyes and Chemicals acquire Germany-based Dystar Group