Marekts Today

It was a phenomenal session for equity markets across the globe giving some blow out moves. Markets saw an emphatic breakout celebrating the rate cut of 50 bps in the discount rate by the Fed chief Ben Bernanke. This rate cut comes after four years on account of recession concerns in the US. During the last four years there have been 17 consecutive rate hikes and yesterday we saw a rate cut of 50 bps. Analysts are seeing this as positive and a bold move by the Fed in order to take charge of the slowdown in US.
It was a historic session for Sensex, which was up 4% or 600 points breaching 16,000 and staying well above outperforming most of the Asian peers. It was the biggest single day points gain for Sensex. The euphoria was wide spread in scrips across sectors. Sugar was the story of the day. After a long time sugar rallied with some of sugar stocks locked in upper circuit on sops being given to sugar companies.
Rate sensitive were also among the star performers whether it was banking, property or auto.
Banking & financial stocks like HDFC and HDFC Bank saw big moves and were up 8% followed by ICICI Bank and SBI. Giving them company from the realty space were DLF, Unitech, HDIL.
Stocks like SBI, SAIL, Reliance, RPL, HDFC, BHEL and Tata Steel hit their life time highs. Reliance market cap hit Rs 3 lakh crore.
Sensex was up 653.63 points or 4.17% at 16322.75, and the Nifty up 186.15 points or 4.09% at 4732.35.
About 1643 shares have advanced, 1301 shares declined, and 86 shares are unchanged.
The BSE Midcap Index ended at 7,116.61 up 132 points or 1.9%.
The BSE Smallcap Index ended at 8,871.00 up 90 points or 1%.
The BSE Capital Goods Index was closed at 14,112.99 up 2%. Triveni Engg, Praj Industries, Lakshmi Machine, Reliance Infra, Carborundum, Bharat Bijlee, Thermax closed higher.
The BSE Auto Index closed closed at 5,094.31 up 3.5%. Maruti Udyog, Bajaj Auto, Mah and Mah, Hero Honda, Tata Motors ended in the green.
The BSE Metal Index closed at 12,546.34 up 4%. SAIL, Sterlite Ind, Tata Steel, Hindalco, JSW Steel, Hind Zinc advanced.
The BSE FMCG Index gained 2% at 2,140.91. ITC, HUL, Britannia, Marico, Colgate, Tata Tea ended higher.
BSE Oil and Gas Index closed at 8,924.11 up 5%. Reliance Petro, Reliance Natura, GAIL, Reliance closed in green.
The BSE IT Index closed at 4,491.21 up 2.4%. Infosys, Tech Mahindra, Mphasis, I-Flex Solution, HCL Tech, Satyam, Patni Computer closed higher.
The BSE Bankex was up 5% at 8,691.45. HDFC Bank, Bank of Baroda, ICICI Bank, PNB, SBI closed higher.
The NSE cash turnover was at Rs 16470.54 crore and the NSE F&O turnover was at Rs 68643.65 crore. The BSE cash turnover was Rs 7455.94 crore. Total market wide turnover was at Rs 92570.13 crore.

Source:moneycontrol.com

Intraday Calls for 19th September

Market can open with gap up and it can even touch 16000 mark today.

Buy for intraday (Do not buy if open too high):

Exide Industries
India Cement
ITC
Reliance Energy
SBI
Bank of Baroda
Sasken Communication
Escorts
Skumar Nation
Shringar Cinema
Prithvi Info

Good Luck

Intraday Calls for 18th September

Market will open with a gap down about 100-150 points. Some recovery expected from lower levels but remail nagetive.

Sensex Support 15340 Resistance 15630
Nifty Support 4440 Resistance 4530

Buy for intraday: (Buy at lower levels)

Adhunik Metal
Praj Industries
India Cement
ITC
Hind Organics
Redington
Titan Industries
Finolex Industries
Renuka Sugar
Sakthi Sugar
Sel Manufacturing

Good Luck

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