Friday, February 27, 2009

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Tuesday, February 24, 2009

Friday, February 20, 2009

Thursday, February 19, 2009

19 feb nifty chart

Sensex range-bound; realty, metals gain

SOURCE:ECONOMICTIMES

Indian equities were moving in a narrow range after a positive opening on Thursday. Lack of cues from domestic markets and nervousness in
the international markets kept the traders away from taking any fresh positions. Realty and metal stocks looked strong while FMCG and pharma stocks declined.

India's inflation for the week ended February 7 is expected to have fallen to 4 per cent against 4.39 per cent previous week. Any further fall from the expectations may provide some room for traders to spike up the market.

"Nifty will continue to see 2740~2750 and then 2705 levels as intraday support. On higher side any move above 2800 may continue to see profit booking with 2820 as most important hurdle as of now. Market players may await inflation data before taking any directive action. Low inflation may trigger a positive rally however as mentioned earlier volumes will continue to remain a major cause of concern. Strict stop losses are absolute must for all short term positions," said Reliance Money report.

At 10:30 am, Bombay Stock Exchange's Sensex was at 9058.92, up 43.74 points or 0.49 per cent. The index touched an intra-day high of 9111.95 and low of 9034.90.

National Stock Exchange's Nifty was at 2787.90, 11.75 points or 0.42 per cent higher. The broader index touched a high of 2802.15 and low of 2773.75 in trade so far.

"Our market has corrected significantly after the interim budget as expectations were unfulfilled. The situation in the US remains grim and the recession will continue to deepen. Today, we expect the market to open flat but some profit booking in the later part of the day is not ruled out," said Religare report.

Amongst the sectoral indices, BSE Realty Index was up 1.66 per cent, BSE Metal Index moved up 1.17 per cent, BSE Capital Goods Index gained 1.03 per cent. BSE FMCG Index was down 0.24 per cent and BSE Healthcare Index slipped 0.14 per cent.

Mahindra & Mahindra (3.32%), HDFC (1.96%), Grasim Industries (1.84%), Maruti Suzuki (1.73%) and DLF (1.73%) were the top Sensex gainers.

Hindustan Unilever (-1.28%), Bharti Airtel (-0.48%), Infosys Technologies (-0.14%), Sun Pharmaceuticals (-0.12%) and ONGC (-0.03%) were the only losers.

Market breadth was positive on the BSE with 918 advances and 570 declines.

Meanwhile, equities across the Asia-Pacific too painted a mixed picture as investors remained wary due to deepening recession worries in the United States and Japan. The Nikkei was up 0.84 per cent, Hang Seng slipped 0.41 per cent, Straits Times fell 0.91 per cent and Kospi was up 0.41 per cent.

Noon: Markets shed gains, show volatile trend

SOURCE:LIVEMINT

At 12:34pm, 30-share BSE Sensex was at 8,998.01 down by 17.17 points and the NSE Nifty was at 2,772.02 down by 4.10 points

Markets gave up its early gains and slipped to negative in the afternoon session on Wednesday despite the better than expected inflation data. The benchmark indices are now indicative of another volatile session after yesterday.
Inflation for the week ended 7 February fell to 3.92% against 4.39% of the previous week. Auto, power, realty and metal stocks are still trading higher but significant selling pressure is witnessed among the FMCG, oil and gas, capital goods and banking stocks.
Weak Asian markets also added to the sentiments today. The BSE Sensex opened the 0.2% up as banking stocks snapped from their three-day downfall on hopes of rate cuts. At 12:34pm, 30-share BSE Sensex was at 8,998.01 down by 17.17 points and the NSE Nifty was at 2,772.02 down by 4.10 points.
Wipro, Grasim Industries, Housing Development and Finance Corp., Mahindra and Mahindra, Maruti Suzuki and NTPC Ltd are leading the rally.
But there are some declining like Hindustan Unilever Ltd, Larsen and Toubro, ICICI Bank Ltd, Hindalco and Bhel.
Meanwhile, Asian markets are trading mixed with Nikkei up by 0.72% and but the Hang Seng is down by 0.67%.

Indian market bounces back on rate cut hopes

SOURCE:RTT NEWS

Thursday, the Indian market is trading firm following a recovery in some Asian markets this morning. Realty and banking stocks are receiving good support after the Reserve Bank of India governor Subbarao indicated on Wednesday that there is more room left for interest rate cuts. Select metal and capital goods stocks are also showing notable gains. Traders await inflation data scheduled to be released this afternoon.

The BSE Sensex opened higher at 9,035 and rose further on widespread buying. However, the index has pared some of its gains since then and is now trading at 9,046, up 41 points or 0.46%. Meanwhile, the S&P CNX Nifty is trading at 2,788, up 0.44%.

On the BSE, the market breadth is positive, with 903 gainers compared to 486 stocks that are declining. The small-cap, the mid-cap and the broad-based BSE 500 indexes are outperforming the benchmarks.

Realty stocks are leading the bounce back amid reports that the commerce and industry ministry could relax end-use restrictions on surplus foreign direct investment funds

Unitech is rising 1.20% even as reports said that the company has dropped plans to develop two of its six information technology parks, as these have not attracted any leasing commitment from potential clients.
Among banking stocks, ICICI Bank is moving up 0.92% and HDFC Bank is rising 1.32% despite a sharp fall in their ADRs overnight.

Dena Bank and Oriental Bank of Commerce are adding more than 2% each on reports that the government would infuse capital into these public sector banks for maintaining their capital adequacy ratio at about 12%.

Reliance Industries is moving up 0.90% after oil minister Murli Deora said that the company will start selling natural gas from its eastern offshore KG-D6 fields by April to ease fuel deficit at power and fertilizer units. On the hand, Nagarjuna Fertilizers, which is expected to receive the first consignment of natural gas, is also gaining 0.31%.

Suzlon Energy is surging up 4.56% after REpower Systems AG, a unit of Suzlon, bagged a new order worth nearly 2 billion euro from RWE Innogy GmbH for supplying 250 offshore wind turbines.

MMTC is advancing 1.19% despite reports that the company has scrapped a tender to import 35,000 tonnes of raw sugar.

by RTT Staff Writer

For comments and feedback: contact editorial@rttnews.com

Pranab: No plans to bail out Satyam

SOURCE:NDTV PROFIT



Acting finance minister Pranab Mukherjee said in Parliament today that the government has no plans to bail out Satyam.
Satyam, Mukherjee said, had adequate un-incumbered assets which can help the company run professionally and the Government's intervention was to ensure just that. "Government interest (in Satyam) is that it is an important company in this particular sector. It has large number of international clients... it has good number of professionals," he said.

He said it was wrong to blame an institution like ICAI for the wrongdoing of some individual auditors.

Capital market regulator Securities Exchange Board of India (SEBI) last month ordered investigation into the dealings in the shares of Satyam Computer Services Ltd to ascertain if provisions of SEBI Act and rules and regulations made there had been violated, he said.

SEBI, he said, has also asked market participants to undertake peer review of the working papers (relating to financial statements of listed entities) of auditors in respect of companies constituting the NSE-Nifty 50, the BSE Sensex and some listed companies outside the Sensex and Nifty chosen on a random basis.

The peer review will be undertaken by a SEBI prepared panel of auditors, he said.

Nifty seen in 2800-2950 range, put writing at 2800-2700

SOURCE:ECONOMICTIMES

Despite weak cues from the global markets, Indian stocks managed to trim most of their early losses in a choppy trade Wednesday. National
Stock Exchange's 50-share Nifty closed the day 0.20 per cent higher at 2776.15 while BSE Sensex slipped 0.22 per cent to close at 9015.18.

Intraday, Nifty touched a high of 2806.50 and low of 2736.65, a band of around 70 points. The Sensex moved in a narrow band of 191 points. It touched a high of 9113.92 and low of 8922.31.

Nifty February futures provisionally settled at a discount of 15 points to the spot. The contract price gained 0.28 per cent and open interest added 24.56 lakh shares. However, the cost of carry and higher sell quantity suggests modest build up of shorts in the contract.

Call buying was observed at 2800 strike while unwinding of longs was observed in 2900 level and moderate call writing was seen in 3000 and 3100 strikes indicating Nifty to stay below 2900-2950 levels in near term. On the other hand, huge put writing was seen from 2800 to 2600 levels indicating a strong support zone.

"The markets are likely to trade volatile in a narrow range. Given the options build up, I expect Nifty to remain in 2800-2920 zone before moving either side. At this point of time I will advise players to play safe forming straddle at 2800 levels. Oil marketing companies can be a good bet from short term point of time," said Narendra Joshi, analyst at Apex Wealth Management.

In stocks futures, Reliance Industries February jumped 1.83 per cent on short covering. State Bank of India contract fell 2.53 per cent while open interest added 3 lakh shares indicating short build up. ICICI Bank near month dropped 4.23 per cent and shed 7.73 lakh shares in open interest.

DLF futures soared 9.86 per cent as traders covered their short positions in the contract. Reliance Infra February futures skid 3.33 per cent and Reliance Petroleum February contract slipped 1 per cent and shed 4.47 lakh shares.

F&O Outlook: Nifty rally hinges on a close above 2, 800

SOURCE:BUSINESS-STANDARD

The Nifty bounced back from the day’s low on short-covering but faced resistance above 2,800 and closed with a marginal gain of five points.
Nifty futures witnessed selling pressure at higher levels and the Bloomberg data suggested that 22 per cent volume, mostly from the sell side, changed hands in the last 60 minutes of trade. This indicated that the market sentiment remained weak and that the index might face strong resistance above 2,800. According to Ashish Shroff, technical analyst of Ambit Capital, the Nifty could see a bounce-back to 2,820-2,840 levels as technical indicators were still trading in the oversold zone. However, the index needed to close above 2,800 for any further rally. Shroff expects the Nifty to remain at 2,720 levels for the short term and for the medium term it may go down if it closes below 2,700.

The Nifty February futures shed an open interest (OI) of 2.58 million shares, while the Nifty March futures added an OI of 2.53 million shares. Both the series are trading at a discount, indicating that traders are unwinding long positions of the current month series and building short positions in the March series. Therefore, the Nifty may see high volatility in the March series.

F&O traders today continued to unwind short positions in most of the put options, mainly in 2,800 and 2,900 puts. Put writing was seen in 2,500-2,750 puts, indicating that the index has support at around 2,750 and may not retrace to the October low of 2,500. The 2,800 call witnessed change of hands as it added an OI of 9,650 shares despite a trading volume of 11.50 million shares. This indicated that 2,800 remained to be a high resistance point for bull operators.

Reliance Industries (RIL) snapped a three-day losing streak and closed in the green on short-covering. The stock recovered from the intraday low of Rs 1,253 and closed at Rs 1,292 in its February futures. Traders were seen buying Rs 1,290 strike calls and writing Rs 1,350 strike calls, indicating limited upside.

Nifty likely to consolidate between 2740-2840: FinQuest Sec

SOURCE:MONEYCONTROL

According to FinQuest Securities' report, on intraday hourly charts, momentum indicator is oversold and thus Nifty seems likely to consolidate between 2740-2840.

FinQuest Securities' report:

Nifty took perfect support at trend line drawn through prior lows of 2503 and 2661 to close flat for the day.

On intraday hourly charts, momentum indicator is oversold and thus Nifty seems likely to consolidate between 2740-2840.

21 day EMA at 2844 will also serve as strong resistance on any up move.

Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Wednesday, February 18, 2009

Tuesday, February 17, 2009

Monday, February 16, 2009

Friday, February 13, 2009

Thursday, February 12, 2009

Wednesday, February 11, 2009

Monday, February 9, 2009

Friday, February 6, 2009

Wednesday, February 4, 2009

4 feb nifty chart

Indian shares up 2 pct on Asian rally, Reliance up

* Shares rise on stronger global cues

* Demand revival seen key to sustain gains
(Updates to late morning)

MUMBAI, Feb 4 (Reuters) - Indian shares climbed more than 2
percent on Wednesday, joining a rally across Asian markets that
were spurred by data from China and the United States.

Expectations for an approval to a U.S. stimulus plan, which
could revive demand in the world's largest economy, also
underpinned sentiment.

"The results season is over, global markets are up and
there is no negative news coming in," said Sandeep Neema, fund
manager with JM Financial Mutual Fund.

"In addition cement sales were up while we saw good numbers
from Maruti. This is encouraging buying."

By 11:42 a.m. (0612 GMT), the 30-share BSE Index
was up 1.61 percent at 9,296.74 points, after just over 2
percent.

All its components were up while in the broader market,
gainers outpaced losers 1.35:1 on moderate volume of 90.6
million shares.

The rally was led by Reliance Industries (RELI.BO), up
nearly 2 percent at 1,328.10 rupees, ICICI Bank (ICBK.BO) that
rose 1.9 percent to 399.25 rupees and Oil & Natural Gas Corp
(ONGC.BO) up 2.3 percent at 665 rupees.

"All these are frontline stocks which have been battered
down in previous sessions and valuations are looking
reasonable," Neema said.

Asian markets rose for a second day, spurred by data
showing activity in China's manufacturing sector may be
bottoming out and a surprise rise in U.S. pending home sales
provided hope for two economies critical to a recovery in
Asia's exports.

"In the short term, movements will be dictated by
company-specific events or news or global markets like today,"
said D.D. Sharma, vice president with Anand Rathi Securities.

But for the market to sustain the rise, there will have to
be a pick up in domestic demand, he said.

Cement production and sales in January showed an uptrend.

"This performance has to be sustained for some months or
one or two quarters for the market to gain continuously,"
Sharma said.

Lower interest rates was crucial for a recovery, especially
in sectors such as construction and automobiles, he said.

"We need the banks to reduce rates by at least 300-400
basis points before these sectors revive," Sharma said.

While top car maker Maruti Suzuki (MRTI.BO) and leading
biker maker Hero Honda Motors (HROH.BO) posted higher sales in
January, truck maker Tata Motors (TAMO.BO) and utility vehicle
and tractor producer Mahindra & Mahindra (MAHM.BO) saw sales
falling.

The 50-share NSE index was trading up 1.63 percent
at 2,829.15 points.

STOCKS ON THE MOVE

* Embattled software firm Satyam Computer Services Ltd
(SATY.BO) was down 3.6 percent at 51.80 rupees as its
government-appointed board meets in the southern city of
Hyderabad. Markets regulator Securities and Exchange Board of
India on Tuesday won permission to question its jailed founder
Ramalinga Raju. [ID:nBOM382009]

* Ion Exchange Ltd (IONX.BO) was up 8.3 percent at 75
rupees after it got an order worth 1.26 billion rupees from a
joint venture of NTPC Ltd (NTPC.BO). [ID:nBMB004588]

MAIN TOP 3 BY VOLUME

* Satyam Computer on 12.5 million shares

* Spice Communications (SPCM.BO) on 9.7 million shares

* DLF Ltd (DLF.BO) on 6.4 million shares

FACTORS TO WATCH
* Indian rupee report
[INR/]
* Indian bond report
[IN/]
* FOREX-Dollar edges up before jobs data, rate decisions
[FRX/]
* Oil extends gains as OPEC hints at further cuts
[O/R]
* Asian shares firm on hopes for global economy
[MKTS/GLOB]
* Wall St rallies on stimulus bets, housing, Merck
[.N]
* For closing rates of Indian ADRs
INADR
(Reporting by Janaki Krishnan; Editing by Ranjit Gangadharan)

Noon: Market gains continue on firm global cues

Following global cues, markets are trading in positive on Wednesday. Trading on our domestic and other international indices is firm on expectations of approval of over $800 billion US stimulus package.
However, activity in the Bombay Stock Exchange benchmark Sensex is still cautious due to drop in January sales of some major Indian auto makers and fall in export. But Sensex continued its upward trend today from Tuesday’s session, opening up by over 150 points.
At 12:02pm, the 30-share BSE index was trading at 9304.33, 155.03 points up and the broader NSE Nifty was 47.60 points higher at 2831.50. Overnight gains on Wall Street also sparked off buying on the domestic index.
Buying mainly emerged in sectors like metal, oil and gas, technology, Information Technology, capital goods and banking. Metal index have gained the most at 3.67% with Tata Steel surging by 4.69% at Rs178.70and Sterlite Industries was up by 4.65% at Rs280.
Jaiprakash Associates is top of the rally by 5.05% at Rs69.65, along with Reliance Communication Ltd by 4.86% at Rs167.35, ONGC by 3.16% at Rs670.45 and Wipro by 3.06% at Rs231.00.
Asian markets also snapped from their negative sessions in the week after US markets gained with increase in housing sales. Japan’s Nikkei index rose 2.7% and Hong Kong’s Hang Seng was up by 2.5% as Chinese industrial stocks gained.

Tuesday, February 3, 2009

Monday, February 2, 2009

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