Markets Today: Sensex closes above 19,000; Nifty above 5,600

It was an unbelievable run up in today's session with the momentum continuing in the markets and Sensex crossig the 19,000 level. It was a phenomenal day as Sensex saw the second highest single point day gain. Nifty did even better closing above 5650 levels. The ferrocity has been high and the gains were spread over broader markets as well. On Friday the markets took a breadther with Sensex dropping over 300 points but today it not only covered the loss but also went up scaling new peak.
The overall rally has been phenomenal as the bulls have got more heady pushing markets to new heights crossing some milestones in a very short span of time. The huge monetary flows and abundant liquidity continue to take markets at new peaks.
Haevyweights have nothched up further, metals were the top gainers in today's session. Some historic market caps were crossed by index pivitols.
ONGC's market capitalisation has hit Rs 2.5 lakh crore mark, it is the second company after Reliance to hit Rs 2.5 lakh crore mark. SAIL touched market capitalisation of 1 lakh crore.
Journey to 19,000:
SENSEX HITS 19,000
FASTEST EVER 1,000 POINT RALLY FOR SENSEX
TAKES 4 DAYS TO MOVE FROM 18,000 TO 19,000
CONTRIBUTION - RIL 153 PTS, ICICI BK 120 PTS, ONGC 119 PTS, L&T 108 PTS, BHARTI AIRTEL 96 PTS
TOP 5 STOCKS CONTRIBUTED 60% OF RALLY FROM 18K TO 19K
Sensex: Road to 19 K
19,000 Oct 15, 2007
18,000 Oct 9, 2007
17,000 Sep 26, 2007
16,000 Sep 19, 2007
15,000 July 6, 2007
14,000 Dec 5, 2006
13,000 Oct 30, 2006
12,000 Apr 20, 2006
11,000 Mar 21, 2006
10,000 Feb 6, 2006
9,000 Nov 28, 2005
8,000 Sep 8, 2005
7,000 Jun 20t, 2005
6,000 Feb 11, 2000
5,000 Oct 8, 1999
The obvious question in front of us now is where are the markets headed and what are the experts saying now.
G Devanathan of Rare Enterprises is of the view, "One should not have any targets to the upside but the way the market has moved today there is some more gains to go. At the same time the point to note is this kind of incredible speed is also too difficult to sustain but as of now the trend is up in fact at every fall the market has been textured and it has reasserted its uptrend in a defining manner so as long as the markets are continuing to make new highs one should just follow the trend. "
Metal continue to rally up with Tata Steel, Sesa Goa, Sterlite Ind, Hindalco among the major gainers. Stelite Industies was up 15%, Reliance Energy up 14%, ONGC, GAIL each up over 9% and Siemens up 8%.
Sensex was up 639.63 points or 3.47% at 19058.67, and the Nifty up 242.15 points or 4.46% at 5670.40.
About 2010 shares have advanced, 964 shares declined, and 73 shares are unchanged.
The BSE Small Cap Index closed at 9,311.97 up 2.4%.
The BSE Midcap Index ended at 7,716.91 up 2.5%.
BSE Metal Index was up 9.5%; SAIL up 16%, Sterlite up 15%, Tata Steel up 7.5%.
BSE Oil & Gas Index was up 4.8%; ONGC up 9.4%, GAIL up 9%.
The BSE FMCG Index closed at 2,156.65 up 1%. Bata India, United Spirits up 8% each followed by ITC, Colgate.
The BSE Capital Goods Index was up 3% at 17,119.70. Thermax,Punj Lloyd, Siemens, AIA Engineering Areva T&D, Jyoti Structure, L&T, Reliance Infra up over 5% each.
The BSE Auto Index closed at 5,613.37 up 2%. Maruti, Ashok Leyland, Tube Investments, Apollo Tyres, Hind Motors, Cummins, Escorts were among the gainers.
The BSE IT Index closed at 4,712.43 up 0.5%. Mphasis, Wipro, Patni Computer, HCL Tech, Satyam ended higher.
The BSE Bankex was up 4% at 9,706.81. Axis Bank up 9%, Yes Bank, Kotak Mahindra, Karnataka Bank, SBI, HDFC Bank, Bank of Baroda closed higher. The NSE cash turnover was at Rs 19592.17 crore and the NSE F&O turnover was at Rs 76830.02 crore. The BSE cash turnover was Rs 10391.09 crore. Total market wide turnover was at Rs 106813.28 crore.

Source:moneycontrol.com

Intraday Calls for 15th October

Markets today may open flat to positive and remain positive with high volatility. A positive closing expected today.

Buy for Intraday:

New Listing CCCL (510) Can list arround 625-650 Buy for target of 700
Reliance Energy (1636) Target 1670-1690 SL 1625
Tata Power (1048) Target 1075-1090 SL 1040
RCOM (712) Target 725-735 SL 705
Unity Infra (704) Target 725-730 SL 695
UNITECH (338) Target 350 SL 335
Rolta India (624) Target 645 SL 618
NIIT Ltd. (122) Target 125-128 SL 120
Tele Data (65) Target 70 SL 63
Mercator Lines (93) Target 100 SL 90

Others: VLS Finance (26), Soma Textile (30), GE Shipping (382), Mastek (364), Sun Pharma Advanced Research (89).

Good Luck

Intraday Calls for 12th October

Market may open flat to positive and remain volatile. Keep eye on Reliance Group Stocks. Today is AGM and expects some good announcements from Reliance Ind. Global Markets are weak so Indian market also can be effect from that. Be very carefull and trade in small qty.

Buy for Intraday:

Koutons Retail (415) It can list around 500 levels and go up for 550+
HDIL (780) Target 800 SL 774
Orbit Corp (635) Target 650 SL 628
RCOM (740) Target 755 SL 730
TV Today (174) Target 180-185 SL 172
Power Grid (114) Target 118-120 SL 112
Sterlite Ind (822) Target 845-855 SL 810
Bombay Dyeing (702) Target 715-720 SL 695
NIIT Ltd. (123) Target 128 SL 121
RPL (176) Target 182-185 SL 174
GMR Infra (172) Target 180 SL 169
ITC (190) Target 195 SL 188
Visu International (16) Target 17-18 SL 15.50

Good Luck

Markets Today

It was yet another strong session for the markets despite IT stocks bleeding on account of weak guidance from Infosys. Despite a deep cut in technology market ended on anew high as buying was seen in oil & gas, auto, capital goods and realty stocks.
Sensex closed near 18,800 levels and Nifty closed above 5500 mark for the first time ever. IT & sugar stocks were sulking but rest of the markets continued to party with buying in scrips across sectors. Rest of the Asia also ended higher.
Buying is seen in on all dips which has helped markets to stay at the higher levels. Capital good stocks were trading firm with BHEL & L&T as top gainers followed by auto and realty stocks.
Selling pressure was seen in IT stocks as the markets have given thumbs down to Infosys second quarter numbers. The rupee is trading flat at 39.31 against the dollar. Infosys saw Q2 growth in rupee terms at 8.8%; dollar terms 10.1% in Q2.
Telecom stocks VSNL up 7%, MTNL up 6%, Reliance Communication was up over 3%. Metal stocks continue to attract buying Sterlite Ind was up 6% and Tata Steel is up 2%.
Sensex was up 155.82 points or 0.84% at 18814.07, and the Nifty up 83.40 points or 1.53% at 5524.85.
About 1477 shares have advanced, 1484 shares declined, and 84 shares are unchanged.
The BSE Small Cap Index closed at 9,120.38 up 1.1%.
The BSE Midcap Index ended at 7,590.60 up 1.4%.
The BSE FMCG Index closed at 2,183.79 up 2%. Bata India, GlaxoSmith Con, United Brewerie, ITC, United Spirits were among the gainers.
The BSE Metal Index closed at 14,832.64 up 3%. Jindal Steel, Sterlite Ind, Shree Precoated, Hindalco, SAIL, JSW Steel were among the gainers.
The BSE Capital Goods Index was up 3% at 17,088.00. AIA Engineering, Punj Lloyd, Reliance Infra, Alstom Projects, Gammon India, Areva T&D up over 5% each.
The BSE Auto Index closed at 5,603.85 up 3%. MRF, Mah and Mah, Exide Industrie, Escorts, Hind Motors were among the gainers.
The BSE IT Index closed at 4,766.72 down 5.6%. Tech Mahindra, Mphasis, HCL Tech, Satyam ended higher.
The BSE Bankex was up 2% at 9,570.79. Bank of India, Federal Bank, HDFC Bank, Bank of Baroda, ICICI Bank closed higher.
The BSE Oil and Gas Index closed at 10,725.65 up 2%. ONGC, Essar Oil, GAIL, Reliance Petro, Reliance Natura closed in green.
The NSE cash turnover was at Rs 15830.27 crore and the NSE F&O turnover was at Rs 72261.05 crore. The BSE cash turnover was Rs 10543.80 crore. Total market wide turnover was at Rs 98635.12 crore.

Source:moneycontrol.com

Intraday Calls for 11th October

Market will opens positive and remain positive and may touch 19000 level because of good infosys results. All tech IT stocks can do well today.

Buy for Intraday:

Orbit Corp. (615) Target 640 SL 610
RCOM (725) Target 735-740 SL 720
BHEL (2330) Target 2350-2375 SL 2320
ADLABS (650) Target 675 SL 645 (Short Term Target 750+)
Tech Mahindra (1442) Target 1460-1475 SL 1435
Ashco Industries (46.5) Target 50 SL 45
Triveni Eng (107) Target 112-115 SL 105
Dabur (107) Target 110-112 SL105
ITC (184) Target 188-190 SL 182
Ashapura Minechem (513) Target 525-530 SL 505


Others: Nagarjuna Fert., KPIT, Infosys, Wipro, Bombay Dyeing, Century Textile, Moser Baer.

Good Luck

GTC Industries: More realty than cigarettes

· GTC Industries is a Sanjay Dalmia group company engaged in manufacturing cigarettes with an installed capacity of 17,322 million cigarettes per annum.

· For FY 07, the total income of the company was placed at Rs.201.15 crores, PBT of Rs.27.65 crores and PAT of Rs.51.72 crores. The increase in PAT over PBT is due to tax refund of Rs.24.07 crores.

· The present equity of the company is at Rs.17.60 crores, of which 44.44% is held by the promoters, while balance is by the public.

· For June 07 quarter, total income was placed at Rs.47.14 crores, PBT of Rs.5.25 crores and PAT of Rs.3.95 crores giving an EPS of Rs.2.22.

· Sanjay Dalmia has been recently appointed as Chairman of the company while Anurag Dalmia as Vice Chairman.

· The net worth of the company became positive from FY 07, and hence the company was discharged as sick company, by BIFR, on 29-06-07.

· The concern is on the pending income-tax appeals, against the company, with Apellate Authorities, for I-Tax demand of Rs.762 crores and penalty of Rs.488 crores. However, management is confident of winning these appeals, as similar appeals have gone in company’s favour.

· The company has real estate, in the form of huge land, at Hyderabad, Vadodara and Mumbai and also have necessary exemption under Urban Land Ceiling Act for land in Maharashtra and Andhra Pradesh.

· The company intends to develop its Hyderabad Property in immediate future, either through joint development or alone. The company also has property at Vadodara which could also get unlocked either by development or outright sale.

· The company has two running plants in Mumbai, one at Vile Parle and another one at Chakala, commercial suburbs of Mumbai. The company may shift its operations of Vile Parle unit to Chakala and may develop Vile Parle property.

· Vile Parle property has developable area of about 15 lakh sq. ft. which could be developed as a commercial hub, as it is ideally located on S. V. Road. This property is valued at Rs.2,500 crores.

· All the properties of the company are valued at over Rs.3,000 crores, including Chakala property, which is about 2.5 acres, valued at close to Rs.300 crores.

· The company is debt free, net off cash and bank balance. This is a remarkable feat for the company, as it recently, came out of BIFR and is now debt free.

· The share of the company is ruling at Rs.270 which works into a market capitalization of Rs.475 crores. This kind of valuation gets attributed to its core business, due to some of the strong brands of cigarettes of the company. Realty valuation comes close to Rs.1,700 per share.

· Share is a good bet at Rs.270 levels, mainly considering its realty values, which would get unlocked, sooner or later. Investors having long term horizon, can buy the stock.

Source: sptulsian.com

Markets Today

It was a fabulous follow on session for the markets after yesterday's surge as they closed on a new life time high. There has been no stopping for the bulls as the Nifty saw a neat triple digit rally and the Sensex was up over 375 points. This uptrend was without any signs of weakness and closing near the highest points of the day. Abundant liquidity in Asia and specifically India has taken the markets to such heights. On the earnings front, results are largely expected to be inline with expectations. Most of the Asia closed with substantial gains but Europe is more or less flat in the opening.
All the key BSE indices are ended in green with significant gains. Capital goods, realty, oil & gas and metal stocks are leading from the front.
Top gainers on the Sensex are L&T, VSNL, Suzlon Energy & Reliance Petro are up over 6%, BHEL up 4%, Bharti Airtel up 3.81% followed by ACC, Reliance Energy and ONGC.
Top losers on the Sensex are Bajaj Auto, Ranbaxy, Nalco, HPCL, BPCL, Maruti Suzuki and HUL.
Capital goods stocks are leading the uptrend with index pivotal like L&T and BHEL up over 6% and 4% each respectively. The capital goods index is up 4%.
Sensex was up 378.01 points or 2.07% at 18658.25, and the Nifty up 114.20 points or 2.14% at 5441.45.
About 1456 shares have advanced, 1511 shares declined, and 75 shares are unchanged.
The BSE Small Cap Index closed at 9,022.75 up 0.5%.
The BSE Midcap Index ended at 7,484.36 up 1.2%.
The BSE FMCG Index closed at 2,148.05 up 2.8%. Tata Tea, Nestle, P and G, United Spirits were among the gainers.
The BSE Metal Index closed at 14,443.52 up 3%. Jindal Steel, Shree Precoated, Hindalco, SAIL, JSW Steel were among the gainers.
The BSE Capital Goods Index was up 4% at 16,631.35. Suzlon Energy, Punj Lloyd, Larsen, Triveni Engg, Praj Industries, Reliance Infra up over 5% each.
The BSE Auto Index closed at 5,456.93 up 0.5%. Apollo Tyres, Mah and Mah, Amtek Auto, Tata Motors, Escorts, Hero Honda were among the gainers.
The BSE IT Index closed at 5,049.00 up 3%. Tech Mahindra, Infosys, Mphasis, HCL Tech, Satyam ended higher.
The BSE Bankex was up 2% at 9,423.19. Bank of India, Axis Bank, Union Bank, Oriental Bank, ICICI Bank closed higher.
The BSE Oil and Gas Index closed at 10,550.55 up 1%. Reliance Petro, Reliance Natura, ONGC, Essar Oil, Petronet LNG closed in green.
The NSE cash turnover was at Rs 21218.50 crore and the NSE F&O turnover was at Rs 79786.18 crore. The BSE cash turnover was Rs 8510.97 crore. Total market wide turnover was at Rs 109515.65 crore.

Source: moneycontrol.com