Markets Today

It was a weak close for the markets on account of some negative cues from Europe. Europe after opening in red sliped further, FTSE was down 2% following the suit are CAC and DAX. Some of Asian markets came under pressure, Taiwan was down 1%, Kospi ended flat and Hang Seng was down over 1%. All eyes are set on tomorrow's Fed meet where analyst are expecting a rate cut of 25 bps.
Technology and telecom stood out as the biggest losers with Reliance Communication, Satyam, TCS, Bharti Airtel and Infosys being among the top losers.
Consumer durables have stood out in todays trade and were among the top gainers followed by select auto, power, FMCG and metal stocks.
Advance tax numbers are out ICICI Banks number stood at Rs 450 crore, flat YoY basis and Ambuja Cement at Rs 200 crore versus Rs 120 crore (YoY).
Sensex was down 99.37 points or 0.64% at 15504.43, and the Nifty down 23.35 points or 0.52% at 4494.65.
About 1509 shares have advanced, 1443 shares declined, and 76 shares are unchanged.
The BSE Midcap Index ended at 6,915.37 up 18 points or 0.30%.
The BSE Smallcap Index ended at 8,640.23 up 68 points or 0.8%.
The BSE Capital Goods Index was closed flat at 13,704.85. Reliance Infra, Triveni Engg, Kirloskar Oil, Bharat Bijlee closed higher.
The BSE Auto Index closed closed at 4,897.17 up 0.2%. Bajaj Auto, Cummins, Tube Investment, Hind Motors, Maruti Udyog ended in the green.
The BSE Metal Index closed at 12,011.58 up 0.3%. Sesa Goa, Shree Precoated, Hind Zinc, NALCO, Sterlite Ind advanced.
The BSE FMCG Index gained 0.9% at 2,090.79. United Brewerie, United Spirits, GlaxoSmith Con, Tata Tea ended in red.
BSE Oil and Gas Index closed at 8,372.09 down 0.2%.
The BSE IT Index closed at 4,387.26 down 1.4%. TCS down 2.5%, closes below Rs 1000; Satyam down 1.8%, Infosys down 1.76%.
The BSE Bankex was down 0.6% at 8,090.77. ICICI Bank down 1.23%, HDFC Bank down 0.53%.
The NSE cash turnover was at Rs 9373.78 crore and the NSE F&O turnover was at Rs 35768.53 crore. The BSE cash turnover was Rs 4673.34 crore. Total market wide turnover was at Rs 49815.65 crore.

Source:moneycontrol.com

Intraday Calls for 17th September

Market may open flat and remain in range. Not much downside and not much upside expected.

Sensex Support 15550, 15400 Resistance 15750
Nifty Support 4500, 4470 Resistance 4530, 4550

Buy for Intraday:

Aptech (375) Target 382-385 SL 372
Orchid Chemical (218) Target 225 SL 215
GVK Power (570) Target 580+ SL 565
Kalyani Steel (385) Target 395-400 SL 380
Radico Khaitan (194) Target 204-208 SL 190
Dollex (118) Target 125 SL 116
Prithvi Info (300) Target 308-310 SL 296
Bayer Crop (344) Target 355 SL 340
IVRCL (375) Target 382-385 SL 370 (Ultimate Short Term Target 450+)

Others: Ispat Industries (20)(Buy for long term gain), FDC Ltd. (32.40), Cairn Energy (161), Arvind Mills (52), ITC (180).

Good Luck

Sensex may touch 17500 by Diwali: JM Financial

Atul Mehra, ED & Head-Capital Markets of JM Financial said that they are bullish on power, power transmission and distribution, capital goods, construction, alternate fuel and iron.

Mehra added that they see the Sensex at 17,500 by Diwali.

According to him, the concerns on crude and interest rates remain. The Fed cut by 25 bps could see cheer in the equity markets, stated Mehra. There are enough non-US funds moving around in markets to absorb shocks.

Excerpts from CNBC-TV18's exclusive interview Atul Mehra:

Q: We are within striking distance of an all-time high, could we go much higher from here, if so how much?

A: Well we have not seen highs being created; we are going to see newer highs being created. My personal guess is you will see the index somewhere in the region of 17,500 closer to Diwali time. The fundamental reason that gives me motivation to believe that is going to be achieved is liquidity. The same old argument that we have been using for three years still continue to hold true.

Q: Fundamentally, there is a wee bit of a crack coming on the windscreen. You have this IIP number, which is not looking too good. Globally you could see a slowdown because credit is tight. So, would you say that this liquidity argument could get punctured?

A: If you want to add a slight bit of crack, add two more cracks to that. One is the oil price trading at USD 80 a barrel and interest rate, which still continues to trade in the vicinity of 10.5% to 11.5%, which is still high. These are what I call cracks, which are there. The question out over there is all these have been factored into our system, markets are taking note of it and right now corporate India may have given us enough confidence and made us believe that despite all these cracks and uncertainties their numbers will be very much on track and their growth will not be hampered in quarters and years to come ahead.

Q: You are looking at 17,000 by Diwali and perhaps a continued high, where should investors be putting their money sector-wise?

A: Let me give you five or six sectors that I am personally very excited about. Slot numbers one, two and three have been taken up by power sectors. We are very bullish on power, power transmission, and power distribution. So, all the three sectors in one bucket is the most exciting sector. We are bullish on the construction sector; we are bullish on capital goods as a sector. The two other sectors that are our favourites would be the opportunistic sectors and one of them would be the alternate fuel sector. This is a very interesting sector and I am pretty much excited about this sector.

The second sector, which is again very interesting, would be the resources sector, which is what I call as the metal resources sector, basically back into the iron ore or manganese ore, those kinds of companies. This is a very interesting sector and I would urge investors to look into that.

Source:moneycontrol.com

Markets Today

The markets ended flat after opening on a strong note. They could not sustain their position at the higher levels as profit booking set in during the later part of the day. Auto, FMCG, pharma and IT stocks are under pressure. The fall comes in despite some strong Asian cues. At this point all eyes are on 18 September for Fed decision, analyst are expecting 25 bps cut.
The broader markets underperformed the benchmark indices and closed with moderate losses.
Pharma, IT and auto indices were among the top losers among the BSE indices. Select banking, metal and realty stocks held out their gains.
Top gainers on the indices are ICICI Bank, HDFC Bank, L&T, MTNL, Sterlite Ind, Tata Steel and ITC .
Top losers on the indices are NTPC, Reliance Communication, ACC, Sun Pharma, HCL Tech, Maruti Udyog and HUL.
Sensex was down 10.64 points or 0.07% at 15603.80, and the Nifty down 10.95 points or 0.24% at 4518.00.
About 1106 shares have advanced, 1850 shares declined, and 69 shares are unchanged.
The BSE Midcap Index ended at 6,897.00 up 50 points or 0.72%.
The BSE Smallcap Index ended at 8,572.76 up 66 points or 0.8%.
The BSE Capital Goods Index was closed at 13,701.56 down 0.2%. Lakshmi Machine, Crompton Greave, Greaves Cotton, AIA Engineering, Alfa Laval closed lower.
The BSE Auto Index closed closed at 4,885.47 down 1%. TVS Motor, Escorts, Cummins, Hind Motors, Maruti Udyog ended in the red.
The BSE Metal Index closed at 11,979.96 up 0.5%. Shree Precoated, Jindal Saw, Sterlite Ind, Mah Seamless advanced.
The BSE FMCG Index closed flat at 2,072.81. Tata Tea, United Brewerie, GlaxoSmith Con, Bata India ended in red.
BSE Oil and Gas Index closed at 8,387.22 up 0.1%. Reliance Petro, Reliance closed in green.
The BSE IT Index closed at 4,449.14 down 0.8%. Mphasis, Financial Tech, Wipro, HCL Tech closed lower.
The BSE Bankex was up 0.6%. ICICI Bank,HDFC Bank, Karnataka Bank, Kotak Mahindra closed higher.
The NSE cash turnover was at Rs 12490.58 crore and the NSE F&O turnover was at Rs 47177.37 crore. The BSE cash turnover was Rs 6474.89 crore. Total market wide turnover was at Rs 66142.84 crore.

Source:moneycontrol.com

Intraday Calls for 14th September

Market is likely to open with gap up. Some profit booking can be seen in second half. Not much gain at closing expected.

Buy for Intraday:

KPIT (141) Target 148-150 SL 138
Bayer Corp (333) Target 345 SL 330
Ansal Housing (207) Target 215 SL 204
IDBI (134) Target 138-140 SL132
Vivimed Labs (163) Target 170 SL 160
HOPFL (268) Target 280 SL 265
IGL (115) Target 122-125 SL 113
Ansal Buildwell (86) Target 90+ SL 84
Rolta (470) Target 480 SL 466
United Phospho (358) Target 365-368 SL 355

Others: Nitin Fire (458), GIC Housing (56), Manglore Chemical (36), Bhagyanagar India (49), Tata Power (751).

Good Luck

Markets Today

The markets ended the day on a strong note with some positive cues from Asian peers. But Europe was sulking with most of the markets trading in red. Sustained buying was seen in realty, banking and IT stocks. Broader markets outperformed the benchmark indices. Both midcap and smallcap indices are up nearly 1%. This gave markets healthy breadth in favour of advances. However, FMCG, pharma and metal stocks traded under pressure.
Top gainers on teh indices were SBI, Suzlon Energy, Maruti dyog and ACC.
HUL, ITC, Hindalco, Zee Entertainment were among the major losers on the indices.
BSE Realty index is trading strong today up nearly 3%. Major gainers in this space were Unitech, Peninsular Land and Mahindra Gesco.
Reliance Capital and Mercator Lines ended with hefty gains.
Sensex was up 109.08 points or 0.70% at 15614.44, and the Nifty up 32.10 points or 0.71% at 4528.95.
About 1723 shares have advanced, 1231 shares declined, and 70 shares are unchanged.
The BSE Midcap Index ended at 6,946.70 up 57 points or 0.70%.
The BSE Smallcap Index ended at 8,638.26 up 66 points or 0.8%.
The BSE Capital Goods Index was closed at 13,723.88 up 0.3%. Triveni Engg, Suzlon Energy, Praj Industries, Reliance Infra, BEML closed higher.
The BSE Auto Index closed closed at 4,939.34 up 1.3%. Maruti Udyog, TVS Motor, Apollo Tyres, Hero Honda, Cummins, Tata Motors ended in the green.
The BSE Metal Index closed flat at 11,924.63. Jindal Steel, Sterlite Ind, Shree Precoated advanced.
The BSE FMCG Index lost 0.5% at 2,070.79. ITC, Britannia, Marico, Colgate ended in red.
BSE Oil and Gas Index closed at 8,378.77 up 0.7%. Reliance Natura, GAIL, Essar Oil, Reliance closed in green.
The BSE IT Index closed at 4,482.57 up 1%. Mphasis, Tech Mahindra, TCS, Satyam, Wipro closed lower.
The BSE Bankex was up 1.3% at 8,081.94. Kotak Mahindra, SBI, Karnataka Bank, HDFC Bank, Union Bank, Axis Bank closed lower.
The NSE cash turnover was at Rs 11057.26 crore and the NSE F&O turnover was at Rs 41758.23 crore. The BSE cash turnover was Rs 5262.6 crore. Total market wide turnover was at Rs 58078.09 crore.

Source:moneycontrol.com

Intraday Calls for 13th September

Market remain rangebound.

Sensex Support 15500, 15400 and Resistance 15600, 15750
Nifty Support 4440 and Resistance 4530, 4550

Buy for Intraday:

Selan Explo (140) Target 145-148 SL 138
Hind Oil Explo (112) Target 115-118 SL 110
Aptech (368) Target 375 SL 365
India Cement (266) Target 275 SL 263
NTPC (190) Target 195 SL 188
ADSL (352) Target 360 SL 346
IndiaBulls (535) Target 545 SL 530
Essar Oil (51.5) Target 53-55 SL 51

Others: Reliance Capital, Reliance Industries, REL, Triveni Eng, Renuka Sugar, Visu International, Cairn Energy.

Good Luck