Monday, June 4, 2007
Markets Today
The markets opened positive but could not hold their gains at the higher level and slipped in red. It closed near the lowest point of the day with negative market breadth. Most of the Asia ended flat, but China was down over 8%.
Sensex is down 74.98 points or 0.51% at 14495.77, and the Nifty down 30.00 points or 0.70% at 4267.05.
About 1149 shares have advanced, 1371 shares declined, and 83 shares are unchanged.
Auto, IT and capital goods were among the major losers. In the auto sector Tata Motors slipped as it came out with disappointing set of monthly May sales. The IT stocks continue to reel under pressure as the rupee is seen trading at 40.52 levels against the dollar. Sugar sector was a major underperformer in today's session. Bajaj Hindustan, Balrampur Chini, Renuka were among the major losers.
However, metal index outperformed the markets with gains of over 1.2%. Hindalco surged and ended up over 4% on reports that Sterlite with Alcan is looking to buy stake in Hindalco.
FMCG stocks ITC and Dabur India were also among the top gainers.
The BSE Small Cap Index closed at 7,466.77 down 0.01%.
The BSE Midcap Index ended at 6,233.58 down 0.5%.
The BSE FMCG Index up 0.2% at 1,881.32. Dabur India, ITC, Nestle, Bata India closed in green.
The BSE Metal Index was up 1.6% to close at 10,634.17. Jindal Steel, Hind Zinc, Hindalco, Jindal Saw, Tata Steel were among the gainers.
The BSE Health Care Index was down 0.3% at 3,840.59. Panacea Biotech, Cipla, Wockhardt, Divis Labs closed lower.
The BSE Capital Goods Index was down 1.2% at 11,102.87. Bharat Elec, BHEL, Thermax, Praj Industries, HEG ended lower.
The BSE Auto Index closed at 4,948.37 down 1.6%. Tata Motors, TVS Motor, Escorts, Bharat Forge, Cummins among the losers
The BSE IT Index closed at 4,846.50 down 1.3%. Patni Computer, Satyam, I-Flex Solution, Wipro ended weak.
The BSE Bankex was up 0.8% at 7,741.56. Union Bank, SBI, Federal Bank, Bank of Baroda, IOB closed higher.
The BSE Oil and Gas Index closed at 7,691.14 down 1.1%. GAIL, HPCL, IOC, Reliance Natura closed in red.
The NSE cash turnover was at Rs 8533.08 crore and the NSE F&O turnover was at Rs 28727.23 crore. The BSE cash turnover was Rs 3682.8 crore. Total market wide turnover was at Rs 40943.11 crore.
Sensex is down 74.98 points or 0.51% at 14495.77, and the Nifty down 30.00 points or 0.70% at 4267.05.
About 1149 shares have advanced, 1371 shares declined, and 83 shares are unchanged.
Auto, IT and capital goods were among the major losers. In the auto sector Tata Motors slipped as it came out with disappointing set of monthly May sales. The IT stocks continue to reel under pressure as the rupee is seen trading at 40.52 levels against the dollar. Sugar sector was a major underperformer in today's session. Bajaj Hindustan, Balrampur Chini, Renuka were among the major losers.
However, metal index outperformed the markets with gains of over 1.2%. Hindalco surged and ended up over 4% on reports that Sterlite with Alcan is looking to buy stake in Hindalco.
FMCG stocks ITC and Dabur India were also among the top gainers.
The BSE Small Cap Index closed at 7,466.77 down 0.01%.
The BSE Midcap Index ended at 6,233.58 down 0.5%.
The BSE FMCG Index up 0.2% at 1,881.32. Dabur India, ITC, Nestle, Bata India closed in green.
The BSE Metal Index was up 1.6% to close at 10,634.17. Jindal Steel, Hind Zinc, Hindalco, Jindal Saw, Tata Steel were among the gainers.
The BSE Health Care Index was down 0.3% at 3,840.59. Panacea Biotech, Cipla, Wockhardt, Divis Labs closed lower.
The BSE Capital Goods Index was down 1.2% at 11,102.87. Bharat Elec, BHEL, Thermax, Praj Industries, HEG ended lower.
The BSE Auto Index closed at 4,948.37 down 1.6%. Tata Motors, TVS Motor, Escorts, Bharat Forge, Cummins among the losers
The BSE IT Index closed at 4,846.50 down 1.3%. Patni Computer, Satyam, I-Flex Solution, Wipro ended weak.
The BSE Bankex was up 0.8% at 7,741.56. Union Bank, SBI, Federal Bank, Bank of Baroda, IOB closed higher.
The BSE Oil and Gas Index closed at 7,691.14 down 1.1%. GAIL, HPCL, IOC, Reliance Natura closed in red.
The NSE cash turnover was at Rs 8533.08 crore and the NSE F&O turnover was at Rs 28727.23 crore. The BSE cash turnover was Rs 3682.8 crore. Total market wide turnover was at Rs 40943.11 crore.
Source:moneycontrol.com
Intraday Calls for 4th June
Nifty: Supports are 4280, 4255 and resistance are 4320, 4345
Sensex: Supports are 14500, 14400 and resistance are 14600, 14655
Market positve with high volatility and may close with some gain.
Buy Ashok Layland @ Rs. 38-39/- Target Rs. 44+/- SL Rs. 36/- (Positional Call for 5-10 days)
Buy Mahindra & Mahindra @ Rs. 762/- Target Rs. 775/- SL Rs. 755/-
Buy Prime Securities @ Rs. 67 Target Rs. 70-72-75/- SL Rs. 65/-
Buy Bajaj Hind @ Rs. 175/- Target Rs. 180-185/- SL Rs. 172/-
Buy Albert David Ltd. @ Rs. 107/- Target Rs. 112-115/- SL Rs. 102/-
Buy Sasken Communication @ Rs. 560/- Target Rs. 575/- SL Rs. 555/-
Buy Fortis Healthcare @ Rs. 88/- Target Rs. 92-95/- SL Rs. 85/- (DLF - Fortis JV)
Others are MTNL (162), Penland (503), Balrampur Chini (77), Renuka (640), ITI Ltd. (48), Rain Calcining (35).
Good Luck.
Sensex: Supports are 14500, 14400 and resistance are 14600, 14655
Market positve with high volatility and may close with some gain.
Buy Ashok Layland @ Rs. 38-39/- Target Rs. 44+/- SL Rs. 36/- (Positional Call for 5-10 days)
Buy Mahindra & Mahindra @ Rs. 762/- Target Rs. 775/- SL Rs. 755/-
Buy Prime Securities @ Rs. 67 Target Rs. 70-72-75/- SL Rs. 65/-
Buy Bajaj Hind @ Rs. 175/- Target Rs. 180-185/- SL Rs. 172/-
Buy Albert David Ltd. @ Rs. 107/- Target Rs. 112-115/- SL Rs. 102/-
Buy Sasken Communication @ Rs. 560/- Target Rs. 575/- SL Rs. 555/-
Buy Fortis Healthcare @ Rs. 88/- Target Rs. 92-95/- SL Rs. 85/- (DLF - Fortis JV)
Others are MTNL (162), Penland (503), Balrampur Chini (77), Renuka (640), ITI Ltd. (48), Rain Calcining (35).
Good Luck.
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