Dealer’s Diary
The markets opened on a flat note with a positive bias, following mixed cues from global markets. But, soon markets traded in red on account of lack of buying at higher levels. However, the indices managed to cut much of the early losses as buying support was witnessed among power and FMCG stocks. As the day progressed, the indices continued to trade in a narrow range. Further, domestic indices witnessed a heavy sell-off as sentiments turned negative due to weak opening of European stocks. Finally, the markets ended on a weak note as selling pressure was witnessed across sectors with the Sensex and Nifty down by 1.1% each. BSE mid-cap and small-cap indices were down by 0.7% and 0.9%, respectively. Among the front liners, Tata Power, Hero Honda, Cipla, Reliance Communications and Hindalco gained 0–3%, while Tata Steel, DLF, Reliance Infra., HDFC and BHEL were down 2–5%. Among mid caps, Apollo Hospitals, Jagran Prakashan, Biocon, Glaxosmithkline, South Indian Bank gained 4–10%, while JM Financial, Manappuram Gen, Escorts, Eicher Motors and Ispat Ind. lost 4–10%.
The trend deciding level for the day is 20390/6142 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 20507 – 20698/6177 - 6234 levels. However, if NIFTY trades below 20390/6142 levels for the first half-an-hour of trade then it may correct up to 20198 – 20081/6085 – 6050 levels.
Economic and Political News
• Food inflation dips marginally to 16.24%
• Food inflation would ease from November with the arrival of new crop: Government
• Imports of sensitive items up by 21% in April–July to Rs23,039cr
• New policy on FDI in multi-brand retail soon: Commerce Ministry
• Zydus Cadila gets US FDA nod to sale anti-blood pressure drug
• S&P revises outlook of Tata Steel and its UK unit to stable
• Government to decide on Cairn deal by year end
Thursday, October 7, 2010
Wednesday, October 6, 2010
Market Outlook ---- October 7, 2010
Dealer’s Diary
Markets opened on an upbeat note as the benchmark indices witnessed a gap up opening on the back of strong surge in overnight US markets and positive Asian markets. However, the markets failed to sustain the early momentum and pared some of the opening gains as the day progressed. Indices continued to trade in the positive territory in early afternoon trade as strong buying activity was seen among realty, metals, and PSU stocks. Further, the indices rallied upwards, led by the positive opening of European indices. Finally, markets ended their session with modest gains on the back of broad-based buying across sectors. The Sensex and Nifty closed up 0.7% each. BSE mid-cap and small-cap indices outperformed the Sensex, up 1.1% and 0.8%, respectively. Among the front liners, JP Associates, Sterlite Ind., Hindalco, RIL and Jindal Steel gained 1–7%, while M&M, Hindustan Unilever, SBI, Cipla and RCOM were down 0–1%. Among mid caps, JM Financial, Binani Cement, Shipping Corp., State Bank of Mysore and Indiabulls Real Estate gained 8–18%, while DB Corp., BF Utilities, Torrent Pharma, Pidilite Ind. and Triveni Engineering lost 2– 4%.
The trend deciding level for the day is 20553/6186 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 20660 – 20776/6224 - 6261 levels. However, if NIFTY trades below 20553/6186 levels for the first half-an-hour of trade then it may correct up to 20437 – 20330/6149 - 6111 levels.
Economic and Political News
· Gems and jewellery exports may grow 30–35% in FY2011: GJEPC
· India-EU FTA by year-end: Sharma
· NHAI in talks with SBI for Rs10,000cr loan
· Shree Renuka Sugars gets 118mn litres ethanol supply orders from OMCs
· Eros International lines up Rs700cr capex for the next two years
· GAIL places orders for laying Dabhol-city gas pipeline
· Surya Roshni to invest Rs50cr for expansion
Tuesday, October 5, 2010
Market Outlook----October 6, 2010
Dealer’s Diary
The markets opened the trading session on a flat note with a negative bias amid unfavorable global cues. However, the markets soon gained momentum and moved in the positive territory. The up move was limited as selling pressure was witnessed at higher levels and the indices traded in a narrow range exhibiting volatility. Further, the positive opening for the European markets supported the up move in the domestic market, but it did not last long and the indices ended the session on a weak note. The Sensex and Nifty closed down 0.3% and 02%, respectively. BSE mid-cap and small-cap indices outperformed the Sensex, gaining 0.8% and 1.1%, respectively. Among the front liners, RCOM, Reliance Infra, Mahindra & Mahindra, JP Associates and ACC gained 2-4%, while HDFC, HDFC Bank, Hindustan Unilever, Bharti Airtel and Hindalco were down 1-3%. Among mid caps, Sintex Ind., Indiabulls Financial Services, Kalpataru Power, Hindustan Oil and Patni Computer Systems gained 5-8%, while Man Infra, Amtek Auto, Eicher Motors, MVL and Shree Global Traders lost 2-3%.
The trend deciding level for the day is 20450/6151 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 20518 - 20628/6183 - 6221 levels. However, if NIFTY trades below 20450/6151 levels for the first half-an-hour of trade then it may correct up to 20340 - 20273/6113 - 6080 levels.
Economic and Political News
· India's rubber import increased by over 50% to 28,720 tonnes in September
· 18.18mn mobile users added in August: TRAI
· Common Wealth Games may add US $5bn to the economy: Government
· Inflation above comfort zone: Subir Gokarn
· NELP-IX to be launched next week
· Lanco Infratech raises Rs5,549cr debt to fund Vidarbha project
· Jindal Stainless hikes investment in Orissa project to Rs6,400cr
· Tata Motors starts open sales of Nano in Maharashtra, Karnataka, UP, WB
· JSW Energy commissions power project in Rajasthan
Monday, October 4, 2010
Market Outlook --- October 5, 2010
Dealer’s Diary
Indian markets opened on a bullish note on the back of positive global cues. Further, the indices inched higher with Nifty hitting the 6,200 levels, led by strong buying across the auto and realty sectors. The trading momentum continued to be strong; however, profit booking emerged at higher levels paring initial gains. Further, the sentiment turned negative as European indices opened on a weak note. Finally, the benchmark indices managed to close in the positive zone with the Sensex and Nifty ending up 0.2% and 03%, respectively. BSE mid-cap and small-cap indices outperformed the Sensex, gaining 0.7% and 0.3%, respectively. Among the front liners, M&M, RCOM, HDFC, JP Associates and ICICI Bank gained 2–3%, while ITC, Sterlite Ind., Hero Honda, Bharti Airtel and L&T were down 1–2%. Among mid caps, Bhushan Steel, UCO bank, Mannapuram General, OnMobile Global and Tulip Telecom gained 6–17%, while Pipavav Shipyard, Motilal Oswal, Indraprastha Gas, Gujarat Fluro and Parsvanath Developers lost 3–8%.
The trend deciding level for the day is 20540/6175 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 20643 – 20809/6206 – 6253 levels. However, if NIFTY trades below 20540/6175 levels for the first half-an-hour of trade then it may correct up to 20373 - 20271/ 6129 - 6098 levels.
Economic and Political News
• No signs of overheating in economy: Montek Singh
• India’s September gold imports down 17.9% yoy to 32.6tonnes from 39.7tonnes
• Capital controls not needed for now: Finance Minister
• Plan panel highlights need for 4% farm growth
Corporate News
• Tata Motors acquires Italy's Trilix SRL for Euro1.85mn
• Ashok Leyland's vehicle sales surge 90% in September 2010
• Lupin’s US arm gets final USFDA nod for generic Hyzaar, Cozaar
• Alstom Projects secures order worth Rs550mn from Lanco Infratech
• Petron Engg. bags Rs1.64bn order from Adani Infra
• Alfa Laval wins Rs380mn order from Tata Chemicals
Indian markets opened on a bullish note on the back of positive global cues. Further, the indices inched higher with Nifty hitting the 6,200 levels, led by strong buying across the auto and realty sectors. The trading momentum continued to be strong; however, profit booking emerged at higher levels paring initial gains. Further, the sentiment turned negative as European indices opened on a weak note. Finally, the benchmark indices managed to close in the positive zone with the Sensex and Nifty ending up 0.2% and 03%, respectively. BSE mid-cap and small-cap indices outperformed the Sensex, gaining 0.7% and 0.3%, respectively. Among the front liners, M&M, RCOM, HDFC, JP Associates and ICICI Bank gained 2–3%, while ITC, Sterlite Ind., Hero Honda, Bharti Airtel and L&T were down 1–2%. Among mid caps, Bhushan Steel, UCO bank, Mannapuram General, OnMobile Global and Tulip Telecom gained 6–17%, while Pipavav Shipyard, Motilal Oswal, Indraprastha Gas, Gujarat Fluro and Parsvanath Developers lost 3–8%.
The trend deciding level for the day is 20540/6175 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 20643 – 20809/6206 – 6253 levels. However, if NIFTY trades below 20540/6175 levels for the first half-an-hour of trade then it may correct up to 20373 - 20271/ 6129 - 6098 levels.
Economic and Political News
• No signs of overheating in economy: Montek Singh
• India’s September gold imports down 17.9% yoy to 32.6tonnes from 39.7tonnes
• Capital controls not needed for now: Finance Minister
• Plan panel highlights need for 4% farm growth
Corporate News
• Tata Motors acquires Italy's Trilix SRL for Euro1.85mn
• Ashok Leyland's vehicle sales surge 90% in September 2010
• Lupin’s US arm gets final USFDA nod for generic Hyzaar, Cozaar
• Alstom Projects secures order worth Rs550mn from Lanco Infratech
• Petron Engg. bags Rs1.64bn order from Adani Infra
• Alfa Laval wins Rs380mn order from Tata Chemicals
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