Investment Advice for Stocks (Share), MF and Personal Finance » Nifty

Markets rise to 2-year closing highs on European lead

free stock tips — Fri, 23 Jul 2010 04:40:00 +0000

Investor focus remains on the results of the European banks’ financial strength due on Friday

Indian shares gained 0.8% on Thursday to their highest close in nearly 2-years, tracking European markets which reversed early losses as banks in the continent gained ahead of their stress test results.

Investor focus remains on the results of the European banks’ financial strength due on Friday. For stories on the stress tests.

Indian market had opened lower, after US Federal Reserve chairman Ben Bernanke on Wednesday painted a gloomy outlook for the US economy. Bernanke said the Fed stood ready to ease monetary policy further if the budding US economy recovery withers, describing the outlook as “unusually uncertain”.

Cigarette-to-hotel business ITC topped the gains and climbed 1.6% to 297.60 rupees, after it said its June quarter net profit rose 22%.

Financials shrugged off worries over a likely rate hike at the central bank’s monetary policy review on Tuesday and marched ahead on expectations of robust economic growth which would spur loan demand.

A majority of economists expect the Reserve Bank of India to raise key interest rates by 25 basis points in its quarterly review on 27 July and tighten policy further in coming quarters, a new Reuters poll showed earlier this week.

Top lender State Bank of India gained 1.8% while leading private-sector lenders ICICI Bank and HDFC Bank climbed 0.7% and 1.1% respectively.

The 30-share BSE index closed 0.76% or 135.92 points higher at 18,113.15, its best close since February 2008. Twenty-five of its components advanced.

In the broader market, gainers outpaced declining shares in the ratio of 1.1:1 in a relatively lower volume of 374 million shares.

So far in 2010, foreign funds have invested a net of $8.8 billion in Indian shares, driving the benchmark up 3.7%.

“Mood in Europe improved after good UK retail sales data. Also, there are expectations being built that the European banks’ stress test results will not be a big issue,” said Anish Marfatia, head of sales – trading at Avendus Securities.

The 50-share NSE index, or Nifty, rose 0.8% to 5,441.95 points.

“If global cues turn better, Nifty has the leeway to rise to 5,550 points,” Marfatia said.

For the month to date, the BSE index rose 2.3% but it has underperformed MSCI’s index of Asia ex-Japan shares and emerging markets index which have climbed 4.2% and 6.1% respectively.

Oil and Natural Gas Corp rose 0.6% after Oil Minister Murli Deora told Reuters the state-run explorer and PetroVietnam are considering a joint bid for BP’s stake in an offshore Vietnam gas field.

Bajaj Auto, India’s second-largest motorcycle maker, raced 3.2% as it met forecasts with a doubling in quarterly profit and analysts expect margins to improve on rising sales and lower wage-related expenses.

The stock is only 1.4% away from its all-time high. ACC, 46%-owned by Switzerland’s Holcim, dropped 1.1% as the country’s No. 2 cement producer said its June quarter net profit declined by 26%.

Dr Reddy’s Laboratories, India’s No. 2 drugmaker by sales, fell 1.7% after its consolidated quarterly profit dipped a more-than-expected 14.3% following a drop in sales in its key US market.

Mobile operator Idea Cellular rose 1.1% ahead of its earnings announcement. After the session ended, Idea said its June-quarter net profit dipped 32%.

Third-largest software exporter Wipro closed 0.1% ahead of its quarterly earnings expected before market hours on Friday.

At 4:12pm, the pan-European FTSEurofirst 300 index of top shares was up 1.4% while Asian shares other than Japan were trading barely changed.

STOCKS

United Breweries jumped 20% to Rs282.80 after the top beer maker said late Wednesday its net profit soared to Rs761.30 million in June quarter, compared with 355 million rupees a year ago.

Software services firm Mastek tumbled 8.1% to Rs271.45 after it posted a net loss of Rs13 million in the June quarter, weighed down by forex losses and higher costs.

State-run Power Grid Corp rose 1.6% to Rs101.45 after India’s cabinet approved a proposal for a 20% share sale in the country’s central transmission utility.

Non-ferrous metals producer Sterlite Industries rose 1.6% to Rs176 as copper prices hit a near two-month high.

Markets rise to 2-year closing highs on European lead is a post from: Indian Stock Market Tips

Nifty bounces back on global cues; metals, auto rise

free stock tips — Wed, 21 Jul 2010 04:41:30 +0000

The benchmark Nifty bounced back on back of positive global cues on Wednesday. Metal, auto, realty and select financial companies’ shares were helping in early trade.

Among frontliners,, Ambuja Cements, Sterlite, M&M, GAIL, SAIL, Hindalco, ICICI Bank, Tata Motors, Wipro, Jaiprakash Associates, Unitech, DLF and Maruti were witnessing buying interest.

However, ABB, NTPC, ONGC, Bharti Airtel and HUL were mildly soft in trade.

At 9:01 hours IST, the Nifty was trading at 5393, up 25 points and the Sensex was at 17955, up 77 points.

Today’s new listing – Hindustan Media Ventures was trading at 175.85, up 5.4% over its issue price of Rs 166. HT Media, owner of company gained 4%.

Midcap & Smallcap space:

The CNX Midcap rose 0.5% to 8428.

Vishal Retail was up 4%, as there were reports that Kishore Biyani’s Future Group is making offer for the company.

Kernex gained 1.5%. HCC was up 1.5% and Lanco Infratech up 0.7%.

Polaris was up 1%; Orbitech (Citigroup arm) brought down its stake in company by 2.5% in July.

Cinemax rallied 8%, as it is looking to rope in PE partner and planning to raise USD 30-40 million.

Results reaction

Tata Coffee was down 2% and United Spirits down 1%. However, JK Paper was up 2% and Panacea Biotech gained 3%. Zee Entertainment went up 0.9% and SKF up 2.8%.

Global cues:

Asian markets were trading 0.2-0.8% higher while only Straits Times declined just 0.16%.

Nifty bounces back on global cues; metals, auto rise is a post from: Indian Stock Market Tips

Sensex ends with modest gains; TCS surges 6%

free stock tips — Fri, 16 Jul 2010 10:55:00 +0000

The benchmark Nifty has seen a consolidation for third consecutive day and closed with modest gains on Friday, led by technology, telecom, realty, select oil & gas and financial companies’ shares.

However, the sell-off in Reliance Industries , HDFC, HDFC Bank, GAIL, ITC, M&M, Reliance Power, Ambuja Cements, Siemens, Sun Pharma , Tata Power and Power Grid Corporation along with metal companies’ shares capped the gain to larget extent.

The 30-share BSE Sensex closed at 17,955.82, up 46.36 points and the 50-share NSE Nifty rose 15.15 points to 5,393.90. Even European markets were quite supportive; CAC, DAX and FTSE were trading 0.5-0.9% higher, at the time of closing of Indian equities.

Market breadth was positive; about 1745 shares advanced while 1411 shares declined on BSE. Nearly 177 shares remained unchanged.

Everonn Education, TCS, BF Utilities, IFCI, TCS, Tata Motors and Axis Bank were the most active shares on exchanges.

In the midcap space, UTV Software, Edelweiss Capital, Rallis India, Tulip Telecom and Rajesh Exports rallied 5.5-8% while Honeywell Automation (post disappointing numbers – profit slipped by Rs 10 crore), Sterlite Tech, Graphite India, Bayer Cropscience and JSL lost 2.3-6.5%.

In the smallcap space, Everonn Education surged 13.27%, Nikhil Gandhi promoter of Pipavav Shipyard may pick up stake in company, reports CNBC-TV18 quoting sources.

Standard Industries, Ramsarup Inds, Kirloskar Ferro and Hindustan Motors (Mitsubishi Motors plans to buy company’s South India plant, reports CNBC-TV18 quoting DowJones) went up 9-10%.

However, NESCO, Elpro Intl, GMR Industries, Manaksia and BL Kashyap declined 4-6%.

Markets reported total turnover of Rs 80,118.83 crore. This included Rs 13,399.93 crore from NSE cash segment, Rs 62,439.33 crore from NSE F&O and the balance Rs 4,279.57 crore from BSE cash segment.

At 14.35 hrs IST, the Sensex was trading choppy in a narrow band of 20 points. The action was mainly seen in the broader markets. Heavy buying was seen in IT, telecom and banking stocks. Oil&gas, metal and power stocks were trading weak today. BSE Midcap and Smallcap index were up 0.4% and 0.7% respectively.

The Sensex was up 29.19 points or 0.16% at 17938.65, and the Nifty was up 7.25 points or 0.13% at 5386.00. About 1739 shares advanced, 1268 shares declined, and 325 shares remain unchanged.

In the largecap space, TCS was the top gainer with 7% gains. HCL Tech, Kotak Mahindra, Tata Motors and IDFC were up 2-4%. On the losing side, Ambuja Cements, GAIL, Mahindra and Mahindra, HDFC Bank and HDFC were down 1-2%.

Index heavyweight Reliance was trading at Rs 1,066.00 down 0.65% from its previous close of Rs 1,072.95. Tech major Infosys was trading at Rs 2,771.65 up 0.46% from its previous close of Rs 2,758.95. Refinery major HPCL was trading at Rs 448.10 up 0.56% from its previous close of Rs 445.60.

Hindustan Lever was trading at Rs 264.85 up 0.63% from its previous close of Rs 263.20. Cigarette major ITC was trading at Rs 297.50 down 0.6% from its previous close of Rs 299.30.

Top gainers on the BSE Midcap: Edelweiss Capital, UTV Software, Tulip Telecom, Gujarat Flourochem and Zydus Wellness were up 5-7.6%.

Top losers on the BSE Midcap: Honeywell Automation, Sterlite Technologies, Graphite India, Allcargo Global and Gee Kay Finance were down 2-5%.

Top gainers on the BSE Smallcap: Standard Industries, Hindustan Motors, Mastek, Ramsarup Industries and Geometric were up 8-10%.

Top losers on the BSE Smallcap: NESCO, Manaksia, BL Kashyap, aurionPro Sol and JK Paper were down 3-5.5%.

Today’s new listing

– Technofab Engg was trading at Rs 297.75, up 24.06% over its issue price of Rs 240 per share.

TCS, BF Utilities, HPCL, Sintex India, BPCL and Tata Motors were the most active shares on the exchanges.

In the midcap space, Zydus Wellness, Gujarat Flourochem, UTV Software, Rallis India and Omaxe gained 3.5-6%. However, Sterlite Tech, Ashok Leyland, Patel Engg, Dewan Housing and Graphite India fell 2-3%.

In the smallcap space, ILandFS, Transport Corp, Vipul, Agro Tech Foods and Maharashtra Ele were up 5-6.6%. However, Subhkam Capital, JK Paper, Maharashtra Polybutenes, Vinati Organics and Orient Abrasive lost 3-4%.

Sensex ends with modest gains; TCS surges 6% is a post from: Indian Stock Market Tips

Markets snap 4-day wins; Infosys sheds more

free stock tips — Wed, 14 Jul 2010 12:47:43 +0000

Shares erase early gains as Europe slips in red; BSE Sensex outperforms China, Brazil peers year-to-date; Infosys sheds more after a disappointing Q1 report card

Markets snapped a four-day winning streak and closed 0.3% lower after touching their highest level in nearly two-and-a-half years on Wednesday, taking cues from European markets which slipped in the red.

Export-focused outsourcers led the losers with the sector index declining 1.4%, after Infosys Technologies posted a disappointing quarterly report card and said a weak European economy could curb new orders.

Infosys, which had shed 3.4% in their worst fall in more than a year on Tuesday, shed another 1.9%.

The 30-share BSE index closed 0.27% or 47.74 points at 17,928.16, with 22 of its components losing ground.

It had risen to 18,167.22 points in early trade, its highest level since February 2008.

The benchmark is still up 2.7% so far this year, outperforming the broader MSCI’s measure of Asian markets other than Japan, which has dipped 5.3%.

Foreign funds have pumped $8 billion into Indian stocks so far in 2010, after a record $17.5 billion investment in 2009.

The BSE index’s emerging market peers – China’s Shanghai Composite Index and Brazil’s Bovespa have dropped 24.6% and 7.1% respectively year to date.

Investors have gone significantly overweight Indian equities for the first time in over a year as a shaky global outlook lures cash to domestic demand plays, a BofA-Merrill Lynch survey showed on Tuesday.

Market participants were sceptical and some believed the valuations could be stretched and any negative developments overseas may bring down the risk appetite.

“There is no reason to be euphoric. Nothing drastically has changed of lateto justify such rising valuations,” said Arun Kejriwal, director of research firm KRIS.

“We keep building expectations and not all are met. Infosys, IIP (Index of Industrial Production) data are recent examples of that,” said Kejriwal.

India’s annual headline inflation remained above 10% for the fifth straight month in June, cementing expectations the central bank will raise interest rates for a second time this month to contain surging prices.

A Reuters survey showed economic growth in Asia’s third-largest economy is expected to accelerate in fiscal 2010-11, supported by a double-digit rise in industrial output and robust domestic demand.

The survey of 21 economists showed India’s economy would grow 8.4% from a year earlier in the 12 months to the end of March 2011 and 8.5% in 2011-12. The economy had expanded 7.4% in 2009-10.

Financials ignored concerns over monetary tightening and advanced on hopes economic growth will spur demand for loans.

Top lender State Bank of India gained 1.5% while private sector rival HDFC Bank climbed 1.1%.

Housing Development Finance Corp, the country’s biggest home loan financier, closed up 0.5% after it said its June quarter net profit rose by 23%.

Other software outsourcers Wipro dropped 1.9% while Tata Consultancy Services, which unveils its quarterly earnings on Thursday closed barely changed.

Energy major Reliance Industries, which has the highest weight on the Sensex, shed 0.5% to Rs1,069.05.

In the broader market, declining shares outnumbered advancing ones in the ratio of 1.3:1 in a relatively higher volume of 487 million shares.

The 50-share NSE index dropped 0.3% to 5,386.15 points.

At 1053 GMT, the FTSEuro first 300 index of top European shares was down 0.3%.

Markets snap 4-day wins; Infosys sheds more is a post from: Indian Stock Market Tips

Sensex up 0.9%; Infosys hits all-time high

free stock tips — Mon, 12 Jul 2010 09:24:50 +0000

The Sensex climbed to their highest in more than three months on Monday, with Infosys Technologies racing to an all-time high for the second session ahead of its earnings.

Firmer Asian markets, expectations for robust factory output growth due around 11 a.m. and hopes for upbeat quarterly earnings bolstered investor confidence.

“There is good momentum with earnings season round the corner. People are optimistic about June quarter results,” said Kunal Sukhani, manager of institutional equities at Asian Markets Securities.

BSE Sensex rises to highest in more than 3 months; Infosys at record high ahead of earnings on Tuesday.

Infosys, the second-largest software exporter, rose as much as 1.4% to Rs2,911.55, its highest, on expectations it would raise its dollar revenue forecast for the full year when it unveils results on Tuesday.

Rivals Tata Consultancy Services and Wipro rose 1.3% and 0.8% respectively.

By 10:51 a.m., the 30-share BSE index was trading up 0.87% at 17,998.47, with 25 of its components gaining. It rose to 18,010.07 early, its highest is more than three months.

The benchmark is up 2.9% so far in 2010, with foreign funds investing a net of $6.8 billion in Indian equities. In 2009, foreigners had bought a record $17.5 billion of stocks and powered the index up 81%.

Factory output in May probably rose 16% from a year earlier, lower than an annual growth of 17.6% in April, a Reuters poll showed.

Commerce and industry minister Anand Sharma said on Friday India’s gross domestic product growth is expected to return to “9% plus” this year, led by strong corporate performance and rising savings levels, is also expected to support sentiment.

Financials led the gainers on expectations of a pick up in loan demand. Top lender State Bank of India rose 0.5% while rivals ICICI Bank and HDFC Bank were up 1.2% and 1.8% respectively.

Mortgage lender Housing Development Finance Corp climbed 1.5%. In the broader market, gainers were thrice the number of losers with 123 million shares changing hands on the BSE. The 50-share NSE index was up 0.8% at 5,392.55.

Sensex up 0.9%; Infosys hits all-time high is a post from: Indian Stock Market Tips

Nifty likely to cross 5,400 levels: Deven Choksey

free stock tips — Thu, 08 Jul 2010 09:17:27 +0000

The Nifty is likely to cross 5,400 levels, said Deven Choksey of KR Choksey in an interview to CNBC-TV18. "There are a lot of factors which suggest that the market has to move up from current levels. The rupee staying at around 47 to the dollar is an invitation for foreign inflow to come into the market. The spread of monsoon and the prospects of inflation reducing are positives. We should be seeing earnings surprise coming in from this quarter as well. I feel we may cross 5,400. It is a matter of time, whether it happens before the earning season or after the earning season I do not know."

Yesterday, markets turned weak in the second half of the session as high beta sectors like real estate and metals slipped. Banks and autos traded weak as well. The Nifty and Sensex ended lower by 48 and 143 points, respectively.

Q: What do you think—is there life beyond 5,350-5,400 or that is the extent of the upside over the next few days?

A: I believe that there is a possibility for the market to go up because there are lots of factors, which are suggesting that the market has to move up from the current level. Rupee staying at around 47 to a dollar is an invitation for foreign inflow to come into the market. Of course I do understand the structural changes which are happening into America, Europe and even in China, which is possibly restricting the kind of a buying happening into the market, which otherwise would have attracted money much faster than what we have seen at this point of time.

Along with the spread of monsoon and prospects of inflation reducing—all these things are appearing very positive and we should be seeing earning surprise coming in from this quarter as well. All these things put together my view is that yes, you are going to see the upside, probably you may see 5,400 also crossing, it is a matter of time whether it happens before the earning season or after the earning season, we will have to feel that particular period.

But I see a reasonably good prospect for the markets to go up and that is where my viewpoint is that, yes, amount of money, which at this point of time is relatively capped would also start coming in because once you see the levels going above, possibly more technical traders also would enter into the market who at this point of time stay muted because of the rangebound movement of the market.

Q: We were just discussing Reliance with an analyst. There seems to be some set back on the D6 ramp up for which most analysts are marking down their EPS estimates for FY11. Do you think it could be a temporary setback?

A: So far the management of the company hasn’t opined on this particular subject as much negative. The last take was that by the end of this year throughput to increase to 75 mmscmd and it could probably stay between 75 and 80 mmscmd. From that perspective, nothing has changed so far but yes, I think I do take particular possibility into calculation because transmission of gas is going to be an issue given the kind of infrastructure which requires to be ramped up.

If that doesn’t get ramped up in sufficient amount of time then possibly despite of possibilities you may not get the kind of a throughput which you are expecting but then in that case you need to look at the worst case scenario kind of an impact. I think that 60 mmscmd is going to be a minimum kind of a level at which the company is going to operate maybe on a higher side, definitely for sure, given the possibility of higher transmission of gas.

But suppose if they operate at 60 mmscmd then probably the EPS impact is not going to be as significant as people are fearing about possibly—I believe that against Rs 66-67 that we have been calculating on 75-80 mmscmd kind of a throughput, we may end up with around 63-64 kind of an EPS, which could possibly mean that around 4-5% kind of a fall from current level. But that is the worst kind of an impact—if that doesn’t happen.

Q: What would you tell investors on ABB now with the open offer opening today?

A: There are two ways in which you can look at this particular company. One is that you are sitting on a brilliant prospect of next ten years of growth story in India and this company definitely is going to participate. Most importantly, it is the promoters of this company who are buying this company’s shares. So from a perspective of looking at this particular company over a longer period of time, it is going to be a very solid long-term kind of a play as far as this company is concerned.

But yes, in the shorter-term, given the kind of last quarter’s results and even last year’s results, if you look at it, it is quite shadowing the kind of a prospect for the current year as a result of which we may not good result and the stock is already quoting at a higher valuation. In the short-term i.e. next six months to nine months kind of a period, the stock may not perform but beyond that it should be performing.

Those investors, who would like to take a look at this company probably after offering into the buyback, may get a chance at around 800 levels and probably 10% kind of again if they want to play with, they may partly book some amount of holdings from the current levels.

Q: Have you been tracking this saga of the battle for Parkway and how do you look at Fortis as a stock then?

A: The Company from the footprint point of view, the kind of hospital network that they will create, ultimately through Parkway’s acquisition, would be a kind of a good network that they would have. Now, how exactly it would pan out into kind of a bottom line profit? That is a little early for me to even comment on that aspect.

But as I see it, I think both these groups have been taking baby steps and probably factoring this particular aspect that the other player is going to increase the open offer price. So from that point of view, I am not too surprised that Khazanah has only increased by USD 3.85 per share. I think that maybe Fortis may end up taking this particular offer upto 3.9-3.95 per share that is what my reading is at this point of time.

Q: If your call is that the Nifty can cross 5,400, what do you expect it to carry it? Which sectors do you think might lead a breakout?

A: It is an important one because you are going to see some participation coming largely from the capital good space particularly players like Larsen & Toubro and BHEL—both will have to give kind of good amount of upside and both of them are showing that kind of a promise both from the point of view of prospects as well as from the result in the season. Along with that there would be some amount of participation coming from bank, particularly the private sector banks, I think they would be definitely moving up.

State Bank of India (SBI) may not go down but to go up it will require sufficient amount of new buying taking place in this particular counter otherwise I think some of the FMCG companies like ITC and Hindustan Unilever Limited (HUL)—both are likely to surprise on a positive side given the kind of a low input cost that they are enjoying. Probably they may end up giving better results in couple of pharmaceutical companies along with. So you will have a mix bag in respective sectors.

You will find heavyweights missing particular likes of Reliance and some of the commodity stocks because of the global environment but otherwise from the earning part of view they are equally looking good at this point of time.

Q: Can you open a long here or would that be a risky trade at 5,300 Nifty?

A: No, that it is still a stock specific market. One is getting opportunity at the respective stocks levels. If you want to look at the Nifty in particular, I think the technical levels definitely suggest that one should go long in immediate terms. I do believe that there is an upside potential for this particular market given the kind of positives that I talked about but the yo-yo moment is going to continue for this particular market along with the global market for the variety of reasons.

So till such time, we see some amount of follow-off buying coming in and that is where we are all putting our eyes on. I would not say that we will go lock, stock and barrel into the market and opening up all long position, I would still remain stock specific because that is where one can make money in this kind of an uncertain market.

Q: Do you track Everonn Education? That has been a star mover the last couple of days?

A: Of late I have not tracked this particular company fully but I do like this particular space and this company’s original business plan in which they have been moving ahead, they were suggesting that they are going to ramp up numbers very significantly going forward in this financial year and thereafter. But I am not too sure, last two days what has made it gone up by 10%. From that perspective I do not know, but yes, I do like this company’s business model for sure. I do believe that this company has lot of potential going forward. Of course the valuation would be a subject at which one will have to play around.

Source : Money Control

Nifty likely to cross 5,400 levels: Deven Choksey is a post from: Indian Stock Market Tips

Nifty ends below 5250 on global cues; oil & gas, banks drag

free stock tips — Wed, 07 Jul 2010 11:25:00 +0000

The benchmark Nifty retreated nearly all its Tuesday’s gains and closed below 5250 level, dragged by oil & gas, financial, metal, auto, realty and select infrastructure companies’ shares. This pull down was mainly led by negative global cues.

European markets like CAC, DAX and FTSE were trading 1.2-1.5% lower and US index futures like Dow Jones & Nasdaq declined 0.6% each, at the time of closing of Indian equities. Even the US markets slipped from day’s high to end with marginal gains on Tuesday; ISM Service Index for June came in at 53.8 versus 55.4 in May while markets expected at 55.

Asian markets ended lower barring Shanghai. Hang Seng was down 1.13%. Nikkei, Jakarta, Straits Times, Kospi and Taiwan fell 0.2-0.6%. However, Shanghai gained 0.5%.

The Nifty has been trading in a range of 5200-5300 for three weeks. Portfolio manager PN Vijay said markets are pricing in slowdown in the global economy. "My sense is that most of it [bad news] has got priced in—if you see some of the buying on bad news that is coming in, especially in Wall Street."

According to Vijay the upcoming earnings season will be a key trigger for the markets. “The Nifty may not go below 5000-5200,” he felt.

The 30-share BSE Sensex closed at 17,471.03, down 143.45 points or 0.81% and the 50-share NSE Nifty fell 47.95 points or 0.91% to settle at 5,241.10. However, the Nifty July futures ended at 6 points premium.

Oil & gas, metal and financial were the leading sectors in today’s fall; respective indices declined 1-1.7%.

Heavyweights Reliance Industries Ltd and ONGC were down 1.9-2.1%. Among other oil & gas stocks, GAIL and BPCL fell 1.4-1.6%. BPCL was down 0.67%.

Financials have also taken beating today; HDFC, HDFC Bank, PNB, Axis Bank, Kotak Mahindra Bank, ICICI Bank and IDFC slipped 1-1.8%. SBI was down just 0.4%.

SAIL and Sterlite Industries from metal segment lost 1.9% each. Hindalco, Jindal Steel and Tata Steel fell 0.9-1.3%.

Tata Motors was the top loser on Nifty; down 2.21%. In auto space, Hero Honda, Maruti Suzuki and M&M declined 0.6-0.9%

Wipro and HCL Tech from software space were down 1% each while TCS gained 0.72%. Infosys was flat.

DLF and Unitech from realty pack lost 1.2-1.7%. ITC from FMCG segment fell 0.3% while HUL was flat.

Cipla, Ranbaxy Labs and Sun Pharma from healthcare space moved down 1.25-1.6%. L&T and Siemens from capital goods space were down 1% each.

However, telecom companies shares like Bharti and Reliance Communications gained 1.7% & 1.54%, respectively while Idea fell 0.4%.

Everonn Education, JSW Steel, Aban Offshore, Tata Steel, IFCI and Reliance Industries were the most active shares on exchanges.

Top percentage gainers – Intellvisions, Vaibhav Gems, IVP and English India shot up 20%. Ramco System, Celestial Labs and JHS Svendgaard went up 12-17%.

In the midcap space, Trent, Indian Bank, Pantaloon Retail, Monnet Ispat and Marico gained 4-7%. However, Rei Agro, Gee Kay Finance, Motherson Sumi, Karnataka Bank and Atlas Copco fell 3.5-6%.

In the smallcap space, Everonn Education, Shoppers Stop, Advani Hotels and Ferro Alloys were up 10-11.5%. However, Hatsun Agro, Asian Star, Indowind Energy, Oriental Hotels and Delta Corp lost 5-7.9%.

Total turnover of markets stood at Rs 83,510.89 crore. This included Rs 10,699.19 crore from NSE cash segment, Rs 69,053.31 crore from NSE F&O and the balance Rs 3,758.39 crore from BSE cash segment.

About 1467 shares advanced while 1672 shares declined on BSE. Nearly 187 shares remained unchanged.

Nifty ends below 5250 on global cues; oil & gas, banks drag is a post from: Indian Stock Market Tips

Nifty ends in green for 6 straight sessions; M&M up 3.5%

admin — Wed, 16 Jun 2010 13:18:38 +0000

The benchmark Nifty remained in a consolidation mode for second consecutive day but it closed in a positive terrain for sixth straight day. Global cues were also quite supportive today; Asian markets ended 0.9-1.8% higher.

European markets were trading marginally higher, at the time of closing of Indian equities. The US markets were closed 2-2.8% higher on Tuesday; a successful debt offering from Spain and Ireland aided sentiment.

"Gradually, there is a return of some amount of optimism in the market over the last three-five days. We seeing that at lower levels there is continuous buying interest, which has come into the market again. This time around also it got proven true. So given that there is global turmoil in the markets keeps on capping off at some level around 17,500-18,000 to about 5,400-5,500 on the Nifty," says Naresh Kothari, President of Edelweiss Capital.

The 30-share BSE Sensex closed at 17,462.87, up 50.04 points or 0.29% and the 50-share NSE Nifty rose 11 points or 0.21% to settle at 5,233.35.

Anil Dhirubhai Ambani Group and Mukesh Ambani group companies’ shares were the most active ahead of Reliance Industries AGM on June 18. Reliance Natural Resources, Reliance Industrial Infrastructure, Reliance Capital and Reliance Communications were the most active shares.

CNBC-Awaaz learns from sources that Reliance Industries (RIL) is looking at acquiring 26% stake in Anil Ambani backed Reliance Communications.

CNBC-TV18 learns that the Mukesh Ambani-led RIL is bidding for ultra mega power projects (UMPPs) in Chhattisgarh, Orissa and Tamil Nadu. Sources inform that the company is in the process of purchasing request for quotation (RFQ) documents for the 4,000 megawatt project.

Tata Steel, Tata Motors and Sterlite Industries were other most active shares. ICICI Bank and HDFC from financial space gained 1.9% each. HDFC Bank rose 0.6%. However, Axis Bank and IDFC fell nearly 2%. PNB and Kotak Mahindra Bank declined 0.8% each. SBI was flat.

Infosys and TCS from technology pack went up over 1%. Wipro was up just 0.15% while HCL Tech slipped 0.55%. M&M was the top gainer on Nifty; rallied 3.5%. Tata Motors went up 2.7% as its global sales jumped 50% to 79,819 units in May. Maruti was up 1.6% while Hero Honda fell 0.5%.

Sterlite Industries from metal space rose 2%. Hindalco was up just 0.3% while Jindal Steel, SAIL and Tata Steel declined 0.5-1.7%.

DLF from realty segment went up 1.85% while Unitech went down 0.35%. Cairn India, GAIL and BPCL from oil & gas space rose 0.3-1% while Reliance Industries was down 0.76% and ONGC down 0.16%.

Idea Cellular from telecom pack gained 1.1% and Reliance Communications was up 0.3%. However, Bharti fell 1.3%.

HUL from FMCG segment slipped 1.6% and ITC was down 0.3%. BHEL, L&T and ABB from capital goods space lost 0.2-0.4% while Siemens gained 0.3%.

In the power space, NTPC, Power Grid, Reliance Power, Tata Power and Reliance Infrastructure were down 0.4-1.5%.

In the midcap space, MTNL, Bajaj Electrical, Gammon Infra, TataTeleservices and Honeywell Automation gained 6-10%. However, Sadbhav Engg, Kwality Dairy, Syndicate Bank, IFCI and Dena Bank fell 2.7-6%.

In the smallcap space, TTK Prestige surged 18% and Resurgere Mines was up 17.19%. IFB Industries, Delta Corp and Relaxo Footwear were up 10.55-11%. However, Binani Cement, Vindhya Telelink, Subhkam Capital, Kanani Industries and Balaji Telefilm lost 4.5-7%.

Advances outnumbered declines; about 1641 shares advanced while 1464 shares declined on BSE. Nearly 206 shares remained unchanged. The markets reported total turnover of Rs 1,12,369.04 crore. This included Rs 14,361.33 crore from NSE cash segment, Rs 93,203.13 crore from NSE F&O and balance Rs 4,804.58 crore from BSE cash segment.

Nifty ends in green for 6 straight sessions; M&M up 3.5% is a post from: Indian Stock Market Tips

What brokers expect for markets next week?

free stock tips — Sat, 05 Jun 2010 09:52:49 +0000

We at myiris have collated views from leading broking firms on next week`s markets performance. The same is as under:

Aditya Birla Money:

The daily Nifty chart suggests continuation of bullish trend as Nifty has closed above 5,100 levels. However, in the forthcoming trading session, confirmation of the trend would be seen if Nifty sustains 5,148 levels and breaks 5,198 levels. Technically Nifty resistance is seen at 5,198 levels and break of the level would test 5,240 levels in near term. On downside Nifty support is seen at 5,050 and break of it would test 4,980 levels in near term.

Geojit

Nifty is having support at 5,100 and 5,070, while the resistance is there at 5,171 and 5,250 levels.

PINC Money:

Indian equity indices have sustained their bullish structure following some very encouraging technical patterns. The Nifty has moved above 5,100 which is a crucial resistance level. This development opens the potential for the Nifty to reach 5,475. The underlying technical indicators retain a bullish poise and there is every possibility that this target can be reached. We are bullish on the markets and believe that the uptrend is likely to sustain and reach higher levels over the medium term.

Source : my Iris

What brokers expect for markets next week? is a post from: Indian Stock Market Tips

Sensex ends above 17K on global cues; all sectors gain

admin — Thu, 03 Jun 2010 12:46:35 +0000

The benchmark Nifty gained for the second consecutive day and closed at two-week high on the back of strong global cues. Short covering too helped the markets to stay on the higher side. The indices closed above key levels, the Nifty settled above the 5100 level and the Sensex ended above the 17000 mark.

US pending home sales for the month of April 2010 went up 6% as against expected increase of 5%. The US markets rallied post this news and ended 2.2-2.7% higher on Wednesday. This news pushed other markets too higher. European markets were trading 1.7-2% higher and the US index futures were up 0.2-0.5%, at the time of closing of Indian equities.

In Asian markets, Nikkei surged 3.24%. Straits Times, Kospi, Jakarta and Taiwan Weighted gained 2-2.8%. Hang Seng was up 1.6% while only Shanghai declined 0.73%. The 30-share BSE Sensex closed at 17,022.33, up 280.49 points or 1.68% and the 50-share NSE Nifty went up 90.65 points or 1.81% to settle at 5,110.50. The broader indices also gained 1.1% each.

Stephen Roach, Chairman (Asia), Morgan Stanley said that that the markets were still flushed with liquidity. The Indian economy and markets were quite safe and not likely to be impacted hard by the crisis. He explained that Indian economy was boosted by the infrastructure sector and the strong Foreign Direct Investment (FDI).

He further added that though the European crisis created a global financial mess and looked vulnerable to a double dip, it was not as severe as the crisis in 2008. All the sectoral indices ended positive and only two stocks out of 50 were in the red on the Nifty, which were Cipla & Hero Honda Motors. Banks were the major gainers; the respective index rose 2%.

Telecom gained for the second consecutive day. Reliance Communications was the top gainer today as well, rallied 6.4%. After the informal talks, now Reliance Communication is engaging different strategies to once again woo the South African telecom operator MTN. Sources said to CNBC-TV18 that Anil Ambani will be visiting Johannesburg to meet the top brass of MTN on Monday. Bharti Airtel was up 1.15% and Idea Cellular up 4.2%.

Heavyweights Reliance Industries and ONGC went up 2% and 2.4%, respectively. GAIL was up 1.6%. BPCL and Cairn India gained 0.4-0.77%. In the banking & financial space, HDFC Bank, Axis Bank and IDFC went up 2.8-4%. SBI, ICICI Bank, PNB and HDFC were up 0.9-1.5%.

HCL Tech, TCS, Wipro and Infosys from technology pack moved up 0.9-2.4%. DLF from realty space gained 1.9% and Unitech was up 1%.

HUL from FMCG segment gained 3.9% and ITC was up 1.5%. Ambuja Cements and ACC from cement space rose 3.2% & 1.8%, respectively. L&T from capital goods space went up 2%; BHEL, ABB and Siemens gained 0.5-1.5%. Tata Motors from auto pack rose 2.8%; M&M and Maruti went up 1.5% each. However, Hero Honda lost 1.4%.

Sterlite Industries, Hindalco and Jindal Steel from metal segment were up 1.7-2.7%. SAIL and Tata Steel gained 0.3-0.5%. Advances outnumbered declines today as well; about 2030 shares advanced while 1055 shares declined on the BSE. Nearly 218 shares remained unchanged.

In the midcap space, Havells India, Atlas Copco, Redington, HCC and Trent were up 6-12% while Core Projects, Shriram City, Shree Renuka Sugar, Jain Irrigation and Berger Paints fell 2-3.5%.

In the smallcap space, IFB Industries shot up 20%. Everest Industries, Electrotherm, eClerx Services and Dynamatic Tech were up 10-12.6%. However, Indiabulls Securities, Kanani Industries, Goodyear, Indo Tech Transformers and Dolphin Offshore declined 4-6.4%.

The markets reported total turnover of Rs 92,772.22 crore. This included Rs 12,044.3 crore from the NSE cash segment, Rs 76,988.58 crore from the NSE F&O and the balance Rs 3,739.34 crore from the BSE cash segment.

Sensex ends above 17K on global cues; all sectors gain is a post from: Indian Stock Market Tips