Markets remain flat

19 Feb 2009 | 18:33
Markets remain flat

It was another range bound session for the markets as Fund flows were muted at FIIs desk while the domestic participation was very low. The Nifty remained below 2800 for major part of the day while the Sensex was hovering around the 9000 mark.

The Sensex finally closed 27.45pts or 0.30% higher at 9,042.63. The Nifty gained 13.2pts or 0.48% to close at 2789.35. The broad market indices ended lower as the BSE Midcap and Small Cap indices were down by 0.21% and 0.37% respectively. Market breadth was negative as A/D ratio was 0.83:1 on the BSE.

The sectoral indices were mixed. The top gainers were the BSE IT, Consumer Durables and Auto indices. The top losers were the BSE Capital goods, Realty, Bankex and Metal indices. The top gainers from the BSE-30 were Wipro, Infosys, Grasim and Maruti. The top losers were Hindalco, ACC, ICICI Bank and L&T.

Although the main indices continue to remain above their trend reversal levels of 9000/2750, we recommend a cautious approach as traders need to watch whether the Dow Jones is able to remain above 7500. In case the Dow Jones breaks this level, expect a sharp fall in Indian markets. We continue with our cautious and wait and watch approach with respect to fresh long positions.

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Markets end flat after two sessions of weakness

18 Feb 2009 | 18:27
Markets end flat after two sessions of weakness

Markets end flat after two sessions of weakness Markets witnessed a lacklustre session as the main indices closed on a flat note. While the Sensex closed 19.82pts or 0.22% lower at 9,015.18, the Nifty gained 5.65pts or 0.2% to close at 2776.15. The broad market indices ended lower as the BSE Midcap and Small Cap indices were down by 0.45% and 0.61% respectively. Market breadth was negative as A/D ratio was 0.73:1 on the BSE.

The sectoral indices were mixed. The top gainers were the BSE Realty, Oil and Gas and Power indices. The top losers were the BSE Bankex and Consumer durables indices. The top gainers from the BSE-30 were DLF, Maruti, ACC, Reliance and NTPC. The top losers were HDFC, M&M, ICICI Bank, Rel infra and SBI.

The coming sessions will be crucial as traders will be watching whether the Dow Jones is able to remain above 7500. In case the Dow Jones breaks this level, expect a sharp fall in Indian markets. We recommend a cautious and wait and watch approach with respect to fresh positions.

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Sell off continues on Dalal Street

17 Feb 2009 | 18:26
Sell off continues on Dalal Street

A broad-based sell-off spilled over to the second session in a row after interim budget turned out to be a non-event. Weakness in global markets also dampened sentiments. The BSE 30-share Sensex fell 270 points, or 2.9% to close at 9,035. In the last two trading session, the Sensex has lost 6.2%. The S&P CNX Nifty dropped 78 points, or 2.7%, to 2,771.

The broadmarkets too fell, but to a smaller extent. The BSE Midcap was down 2.3% while the BSE Smallcap was down 2.4%. The advance decline ratio on the BSE was 1:2.5. The turnover on the NSE was Rs. 7,142 cr versus Rs. 8,019 cr, down 11%.

Sectorally, it was a sea of red. The BSE Bankex, Consumer Durables and Realty indices lost more than 4% each. Most of the Sensex stocks closed in the red. India's largest cigarette maker by sales ITC was the only stock in the Sensex that bucked weak market trend.

Tata Steel slumped 6.7%. An official from S&P was recently quoted by media as saying that Tata Steel's liquidity is weak on a consolidated basis. The report also said the firm could face significant refinancing risk considering the near term pressure on Tata Steel UK's financial agreements which involves about more than 3 billion pounds of debt.

ICICI Bank lost 5.7%. Banking shares tumbled sharply after bond yields rose to their highest in more than two months on Tuesday afternoon on concerns over the government's additional borrowing and lack of clarity on the central bank's open market operations.

On the bright side, the markets closed above the 9,000 psychological mark. The index had fallen below the crucial 9,000 level in late trade but soon recovered. However, a sustained move below 9,000 could result in a fresh bout of weakness.

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Interim budget disappoints mkts as they end lower

16 Feb 2009 | 18:09
Interim budget disappoints mkts as they end lower

Interim budget disappoints mkts as they end lower The markets reacted negatively to the UPA's interim budget today. The main indices had started on a weak note, but fell further after the statement from Pranab Mukherjee, the stand-in Prime Minister and Finance Minister of India. He said the government has relaxed fiscal responsibility & budget management targets. There may be need to consider additional fiscal measures in the next regular budget. Analysts say that the interim budget was more of a dampener as it has neither given any positive surprise for the market nor any negative measure for the sectors. The stocks have ended on a weak note post budget announcement as analysts feel that the interim budget failed to meet the expectations of the markets.

While the Sensex closed 329.29pts or 3.42% lower at 9,305.45, the Nifty lost 99.85pts or 3.39% to close at 2848.5. The broad market indices too ended lower as the BSE Midcap and Small Cap indices were down by 2.93% and 2.1% respectively. Market breadth was negative as A/D ratio was 0.49:1 on the BSE.

All the sectoral indices ended lower. The top losers were the BSE Metals, Realty, Bankex and Capital goods indices. The top gainer from the BSE-30 was ITC. The top losers were JP Associates, Rel Infra, ICICI Bank, RCom and Tata Steel.

The interim budget seems to have spoiled the mood in the markets. The uptrend that began in the last week of Jan 09 nevertheless remains up. This would reverse with a close under 9015/2750. We recommend a go slow approach on fresh longs till we see signs of strength.

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Sensex marches on

13 Feb 2009 | 18:29
Sensex marches on

Markets moved up further after consolidating in the last few sessions. The upmove was broad based as almost all the sectoral indices ended higher. Railway stocks however declined after the Railway budget was announced.

While the Sensex closed 168.91pts or 1.78% higher at 9,634.74, the Nifty gained 55.3pts or 1.91% to close at 2948.35. The broad market indices too ended higher as the BSE Midcap and Small Cap indices were up by 1.51% and 0.62% respectively. Market breadth was positive as A/D ratio was 1.2:1 on the BSE.

Barring the BSE Health care index, all the sectoral indices ended higher. The top gainers were the BSE Metals, Capital goods, Realty, Power and Auto. The top gainers from the BSE-30 were M&M, ACC, Tata Steel, RCom, DLF and JP Associates. The top losers were Sun Pharma, Tata Power, Ranbaxy and Infosys.

The markets are now in a firm uptrend as the Nifty has closed with strong gains after breaking out of the 2750-2850 range early this week and then consolidating for a while. We expect the Nifty to run up to the 3150 levels in the coming week and recommend buying stocks showing relative strength to take advantage of the expected rally.

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Weakness continues

12 Feb 2009 | 17:12
Weakness continues

Markets closed in the red for the second consecutive day on the back of negative global cues. The main indices had started the day on a negative note following bad Asian cues. A recovery soon followed but was not sustained as weak European cues pushed the markets lower again.

While the Sensex closed 152.71pts or 1.59% lower at 9,465.83, the Nifty lost 32.65pts or 1.12% to close at 2893.05. The broad market indices outperformed as the BSE Midcap and Small Cap indices were up by 0.1% and 0.71% respectively. Market breadth was positive as A/D ratio was 1.2:1 on the BSE.

Most of the sectoral indices ended lower. The top losers were the BSE IT, Oil and Gas, Capital Goods and Bankex. The indices that closed higher were the BSE Realty and Auto indices. The top gainers from the BSE-30 were M&M, DLF, Rel infra and Sun Pharma. The top losers were JP Associates, Ranbaxy, Bharti and Infosys.

Our outlook on the market remains unchanged as we believe that they are in consolidation mode after the recent rise. We continue with our strategy of adopting a selective buying approach, especially on declines.

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Consolidation continues

11 Feb 2009 | 18:18
Consolidation continues

Markets snapped the three days of gains as they ended marginally lower. It had opened on a weak note due to bad US cues, but did not fall in sync with markets there. The second half of the day saw the main indices witnessing a smart recovery and even entering positive territory before finally closing marginally lower.

While the Sensex closed 28.93pts or 0.3% lower at 9,618.54, the Nifty lost 8.8pts or 0.3% to close at 2925.7. The broad market indices outperformed as the BSE Midcap and Small Cap indices were up by 0.37% and 0.25% respectively. Market breadth was positive as A/D ratio was 1.11:1 on the BSE.

The sectoral indices were a mixed bag. The top gainers were the BSE Auto, Consumer durables and Power indices. The top losers were the BSE Healthcare, Metals, Oil and Gas and IT indices. The top gainers from the BSE-30 were ICICI Bank, SBI, HDFC, L&T and Maruti. The top losers were Ranbaxy, Grasim, Rel Infra, Tata Steel and Tata Motors.

Our outlook on the market remains unchanged as we believe that they are in consolidation mode after the recent rise. We continue with our strategy of adopting a selective buying approach, especially on declines.

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Markets consolidate

10 Feb 2009 | 18:44
Markets consolidate

Markets seemed to be in consolidation mode after two sessions of strong gains that saw the Sensex gaining about 500 points. The main indices finally ended marginally higher. While the Sensex closed 63.58pts or 0.66% higher at 9,647.47, the Nifty gained 14.6pts or 0.5% to close at 2934.5. The broad market indices too ended higher as the BSE Midcap and Small Cap indices were up by 0.76% and 0.29% respectively. Market breadth was positive as A/D ratio was 1.26:1 on the BSE.

The sectoral indices were a mixed bag. The top gainers were the BSE Realty, Capital goods, Bankex and Healthcare indices. The top losers were the BSE Metals, FMCG and Consumer Durables indices. The top gainers from the BSE-30 were DLF, BHEL, M&M, L&T and Rcom. The top losers were Rel infra, Hindalco, Tata Motors and NTPC.

Markets are in consolidation mode after two sessions of strong gains. The short term trend nevertheless remains up and we continue with our strategy of adopting a selective buying approach, especially on declines.

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Breakoutttttt

09 Feb 2009 | 17:27
Breakoutttttt

Markets continued to move higher for the second consecutive session. In the process, they broke out of the 9000-9350/2750-2850 trading range. While the Sensex closed 283.03pts or 3.04% higher at 9,583.89, the Nifty gained 76.8 pts or 2.7% to close at 2919.9. The broad market indices too ended higher as the BSE Midcap and Small Cap indices were up by 1.7% and 1.63% respectively. Market breadth was positive as A/D ratio was 1.71:1 on the BSE.

All the sectoral indices ended higher. The top gainers were the BSE Metals, Consumer Durables, Capital goods, Oil and Gas and Bankex indices. The top gainers from the BSE-30 were JP Associates, Tata Steel, Rel Infra, Sterlite and ONGC. The top loser was HUL.

With the Nifty convincingly breaking out of the 2700-2850 range, we can look forward to further upsides till the 3100-3150 levels. We recommend a selective buying approach especially on declines.

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Markets witness a strong rally

06 Feb 2009 | 19:04


The bulls were in control today as markets witnessed a smart rally after three days of lacklustre trading. This rally may be ahead of the second stimulus package to be announced in the US by Tim Geithner (new US Treasury Secretary) that also resulted in Asian markets ending on a strong note.

While the Sensex closed 209.98pts or 2.31% higher at 9,300.86, the Nifty gained 63.05pts or 2.27% to close at 2843.1. The broad market indices too ended higher as the BSE Midcap and Small Cap indices were up by 1.43% and 1.05% respectively. Market breadth was positive as A/D ratio was 1.45:1 on the BSE.

All the sectoral indices ended higher. The top gainers were the BSE Oil and Gas, Metals, Consumer Durables and Bankex indices. The top gainers from the BSE-30 were Grasim, Ranbaxy, Tata motors, Reliance, ICICI Bank and TCS. The top losers were HUL and DLF.

Though the markets have closed with healthy gains today, the Nifty continues to remain within the 2700-2850 range. Narrow ranges are usually followed by a big move. One can therefore expect a big move once the Nifty breaks out of the 2750-2850 range. We recommend trading in the direction of the break out.

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Markets continue to remain range bound

 Markets continue to remain range bound

Markets ended lower today after trading in negative territory for a major part of the day. Action was muted at FII and Mutual fund desks. Select buying support was seen from domestic insurance companies. Weak global cues also played a part in today's weakness.

While the Sensex closed 110.97pts or 1.21% lower at 9,090.88, the Nifty lost 23pts or 0.82% to close at 2780.05. The broad market indices too ended lower as the BSE Midcap and Small Cap indices were down by 0.65% and 0.85% respectively. Market breadth was negative as A/D ratio was 0.69:1 on the BSE. NSE cash turnover was lower at Rs.6,925crs. Vs. Rs.7,899crs. on Wednesday.

Barring the BSE Metals and Healthcare index, all the sectoral indices ended lower. The top losers were the BSE Auto, Consumer Durables, IT, capital goods and Oil and Gas indices. The top gainers from the BSE-30 were Grasim, Tata Steel, Ranbaxy, ACC and ICICI Bank. The top losers were Sterlite, M&M, Maruti, HDFC and TCS.

The markets continue to trade in a narrow range. Narrow ranges are usually followed by a big move. One can therefore expect a big move once the Nifty breaks out of the 2750-2850 range. We recommend a cautious approach till there is more clarity on market direction.

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Volatility continues

04 Feb 2009 | 18:32
Volatility continues

It was another range bound session for the markets as they were directionless. FII flows were muted in today's trade and they were booking profits along with domestic funds at higher levels.

While the Sensex closed 52.55pts or 0.57% higher at 9,201.85, the Nifty gained 19.15pts or 0.69% to close at 2803.05. The broad market indices however ended lower as the BSE Midcap and Small Cap indices were down by 0.45% and 0.03% respectively. Market breadth was negative as A/D ratio was 0.9:1 on the BSE. NSE cash turnover was lower at Rs.7,899crs. Vs. Rs.9,226 crs. on Tuesday.

Barring the BSE Consumer Durables and Healthcare index, all the sectoral indices ended higher. The top gainers were the BSE Metals, Realty, Oil and Gas and Power indices. The top gainers from the BSE-30 were DLF, Tata Steel, JP Associates, Sterlite and Maruti. The top losers were M&M, Ranbaxy, Hindalco and L&T.

The markets continue to trade in a narrow range. Narrow ranges are usually followed by a big move. One can therefore expect a big move once the Nifty breaks out of the 2750-2850 range. We recommend a cautious approach till there is more clarity on market direction.

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Markets end higher after a volatile session Markets witnessed a volatile session today after yesterday’s sell-off.

03 Feb 2009 | 18:27
Markets end higher after a volatile session Markets witnessed a volatile session today after yesterday's sell-off.

While the Sensex closed 82.6pts or 0.91% higher at 9,149.3, the Nifty gained 17.25pts or 0.62% to close at 2783.9. The broad market indices however ended lower as the BSE Midcap and Small Cap indices were down by 0.77% and 0.42% respectively. Market breadth was negative as A/D ratio was 0.79:1 on the BSE. NSE cash turnover was higher at Rs.9,226crs. Vs. Rs.8,446crs. on Monday.

The sectoral indices was a mixed bag. The top losers were the BSE Realty, Consumer Durables, Healthcare and Metals. The top gainers were the BSE Oil and Gas and FMCG indices. The top losers from the BSE-30 were DLF, Tata Motors, Hindalco, NTPC, M&M and Tata Steel. The top gainers were Grasim, ACC, Maruti, BHEL and ITC.

After yesterday's sell-off, the bulls tried to regain some control by providing support to the 2760 levels on the Nifty. The coming sessions are likely to see a big move once the Nifty moves out of the 2750-2850 range. We recommend a cautious approach till there is more clarity on market direction.

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Markets move south

02 Feb 2009 | 18:30
Markets move south

Markets ended the first session of the week sharply lower on account of weak global cues as well as disappointing earnings. Heavyweights like NTPC, Reliance Industries, SBI, ICICI Bank, Bharti Airtel, HDFC, ONGC, SAIL, Reliance Communication and L&T witnessed a big sell-off.

While the Sensex closed 357.54pts or 3.79% lower at 9,066.7, the Nifty lost 108.2pts or 3.76% to close at 2766.65. The broad market indices too ended lower as the BSE Midcap and Small Cap indices were down by 1.55% and 1.53% respectively. Market breadth was negative as A/D ratio was 0.55:1 on the BSE. NSE cash turnover was lower at Rs.8,446crs. Vs. Rs.9,836crs. on Friday.

All the sectoral indices ended lower. The top losers were the BSE Realty, Metals, Bankex and Consumer Durables indices. The top losers from the BSE-30 were JP Associates, DLF, Rel infra, HDFC, ICICI Bank and RCom. There were no gainers from the BSE-30.

With the Nifty closing below last Friday's lows of 2775, the bears seem to have the upper hand as last week's uptrend has been reversed. We recommend avoiding fresh long positions till there is evidence of sustainable strength.

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Markets move northward

30 Jan 2009 | 17:34
Markets move northward

Markets closed with healthy gains on the first day of the February series.The upmove came in the second half of the session after trading weak in the early part of the day.

While the Sensex closed 187.96pts or 2.04% higher at 9,424.24, the Nifty gained 50.85pts or 1.8% to close at 2874.8. The broad market indices too ended higher as the BSE Midcap and Small Cap indices were up by 1.31% and 1.08% respectively. Market breadth was positive as A/D ratio was 1.36:1 on the BSE. NSE cash turnover was lower at Rs.9,836crs. Vs. Rs.11,621crs. on Thursday.

Barring the BSE Healthcare index, all the sectoral indices ended higher. The top gainers were the BSE Realty, Metals, Oil and Gas and FMCG indices. The top gainers from the BSE-30 were JP Associates, DLF, Hindalco, SBI and RCom. The top losers were Sun Pharma, BHEL and Tata Motors.

With the Nifty breaking out of the 2850 levels, we remain open to the possibilities of the Nifty testing the 3000 levels in the coming week. Traders should however remain cautious as the long term trend continues to remain down.

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Markets end lower on Derivative expiry day Markets ended lower amid extreme volatility on the day of settlement of January series.

Markets end lower on Derivative expiry day Markets ended lower amid extreme volatility on the day of settlement of January series.

Markets end lower on Derivative expiry day Markets ended lower amid extreme volatility on the day of settlement of January series. While the Sensex closed 21.19pts or 0.23% lower at 9,236.28, the Nifty lost 25.55pts or 0.9% to close at 2823.95. The broad market indices too ended lower as the BSE Midcap and Small Cap indices were down by 0.39% and 0.05% respectively. Market breadth was negative as A/D ratio was 0.91:1 on the BSE. NSE cash turnover was higher at Rs.11,621crs.Vs. Rs.9,764crs. on Wednesday.

Most of the sectoral indices ended lower. The top losers were the BSE Realty, Capital goods, Power and Consumer Durables indices. The indices that closed with the most gains were the BSE Auto and IT indices. The top gainers from the BSE-30 were JP Associates, Maruti, M&M, Tata Steel and Hindalco. The top losers were DLF, Bharti, Wipro, BHEL and RCom.

The 2850 levels on the Nifty has acted as a strong resistance today as the Nifty failed to close above the same levels today. The war between the bulls and bears is likely to continue till the main indices make a decisive move either on the upside or downside.

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Pullback rally continues

28 Jan 2009 | 17:05
Pullback rally continues

Markets continued to move up and closed with healthy gains for the second consecutive day on the back of short covering ahead of Jan series expiry. Positive global cues also lent support to the markets.

While the Sensex closed 253.39pts or 2.81% higher at 9,257.47, the Nifty gained 78.15pts or 2.82% to close at 2849.5. The broad market indices under performed as the BSE Midcap and Small Cap indices were up by 1.64% and 1.18% respectively. Market breadth was positive as A/D ratio was 1.37:1 on the BSE. NSE cash turnover was higher at Rs.9,764crs. Vs. Rs.8,297crs. on Tuesday.

All the sectoral indices ended higher. The top gainers were the BSE Realty, Metals, Bankex, Oil and Gas and Capital goods indices. The top gainers from the BSE-30 were Ranbaxy, ICICI Bank, DLF, LT, Tata Motors and M&M. The top losers were Maruti, Rcom and Sterlite.

With the pullback rally continuing, the Nifty has now closed just below the 2850 resistances. A move above these levels tomorrow could lead to the bulls gaining the upper hand and we could probably see the Nifty targeting the 2950-3000 levels. Tomorrow is also expiry day for the Jan derivative series and so markets are likely to be volatile.

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Markets bounce back

27 Jan 2009 | 18:32
Markets bounce back

Markets bounced back sharply after the fall seen last week. Domestic funds were buyers in today's trade while volumes were low at FII desk as Asian markets were shut. The upmove was also driven by short covering in select large cap stocks ahead of expiry. RBI's credit policy announcement was clearly the non-event of the day, as the central bank kept all rates unchanged.

While the Sensex closed 329.73pts or 3.8% higher at 9,004.08, the Nifty gained 92.8pts or 3.46% to close at 2771.35. The broad market indices under performed as the BSE Midcap and Small Cap indices were up by 0.62% and 0.34% respectively. Market breadth was marginally positive as A/D ratio was 1.04:1 on the BSE. NSE cash turnover was lower at Rs.8,297crs. Vs. Rs.8,459 crs. on last Friday.

All the sectoral indices ended higher. The top gainers were the BSE Metals, Power, IT, Oil and Gas and Bankex. The top gainers from the BSE-30 were Sterlite, Rel infra, Rcom, RIL and Sun Pharma. The top losers were ONGC and L&T.

Though the main indices have bounced back smartly, the short term trend continues to remain down. The Nifty would need to cross the 2850 resistances for the bulls to regain control. We continue with our strategy of going slow on fresh longs and using any upsides to build shorts.

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Weakness continues

23 Jan 2009 | 18:32
Weakness continues

Markets remained under pressure through out the day, after some initial choppiness. Dismal global cues put more pressure on the markets in the second half of session. United Kingdom (UK) Q4 GDP declined 1.4% on quarter-on-quarter basis and government declared economy is in recession for the first time since 1991.

While the Sensex closed 139.49pts or 1.58% lower at 8,674.35, the Nifty lost 35.25pts or 1.3% to close at 2678.55. The broad market indices performed in line with the main indices as the BSE Midcap and Small Cap indices were down by 1.56% and 1.5% respectively. Market breadth was negative as almost two stocks declined for every one stock that advanced. NSE cash turnover was lower at Rs.8,459crs. Vs. Rs.8,553crs. on Thursday.

Most of the sectoral indices ended lower. The top losers were the BSE Bankex, Metals, Capital Goods, Realty and IT indices. The BSE Healthcare index was the top gainer with gains of 0.49%. The top gainers from the BSE-30 were Tata motors, Reliance, Ranbaxy and NTPC. The top losers were M&M, Tata Steel, JP Associates, Rcom and SBI.

After flirting with the 2700 levels for two days, the Nifty finally closed below these levels today. This indicates we could see further weakness in the next week though short term upsides cannot be ruled out. We continue with our strategy of using any upsides to build shorts.

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Markets trade in a narrow range

22 Jan 2009 | 18:24
Markets trade in a narrow range

It was a lacklustre session for the markets as they traded in a narrow range before finally closing marginally higher. Reliance Industries and ONGC were the key stocks that witnessed choppy trade. Positive earnings from Bharti Airtel supported the markets, due to which the frontline indices did not fall much.

While the Sensex closed 34.67pts or 0.39% higher at 8,813.84, the Nifty gained 7.65pts or 0.28% to close at 2713.8. The broad market indices under performed as the BSE Midcap and Small Cap indices were down by 2.07% and 2.01% respectively. Market breadth was negative as A/D ratio was 0.45:1 on the BSE. NSE cash turnover was higher at Rs.8,553crs. Vs. Rs.7942crs. on Wednesday.

The sectoral indices were a mixed bag. The top gainers were the BSE Bankex, Oil and Gas and IT indices. The top losers were the BSE Realty, Consumer durables, Metal and Capital goods indices. The top gainers from the BSE-30 were Bharti, Grasim, Sun Pharma and Sterlite. The top losers were DLF, Ranbaxy, Hindalco, Rel infra and Tata Motors.

Though the Nifty has managed to close above the 2700 supports, the trend continues to remain down. We continue with our outlook that any upsides are likely to be of a short term nature and therefore recommend traders to use these upsides to build shorts.

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21 Jan 2009 - Sell-off continues on the back of global weakness Markets witnessed a sell-off and closed lower for the second consecutive day.

 Sell-off continues on the back of global weakness Markets witnessed a sell-off and closed lower for the second consecutive day.

Sell-off continues on the back of global weakness Markets witnessed a sell-off and closed lower for the second consecutive day. Heavyweights like Reliance Industries, Wipro, HDFC, ICICI Bank, NTPC, Bharti Airtel, ONGC, BHEL, SBI and SAIL were the main culprits for today's massive sell-off. Markets seemed to be disappointed with the earnings from HDFC, Wipro and likely weak numbers from Reliance Industries. Weak global cues added fuel to the fire.

While the Sensex closed 321.38pts or 3.53% lower at 8,779.17, the Nifty lost 90.45pts or 3.23% to close at 2706.15. The broad market indices out performed as the BSE Midcap and Small Cap indices were down by only 1.97% and 1.93% respectively. Market breadth was negative as A/D ratio was 0.43:1 on the BSE. NSE cash turnover was lower at Rs.7,942crs. Vs. Rs.7,081crs. on Tuesday.

Barring the BSE FMCG index, all the sectoral indices ended lower. The top losers were the BSE Metals, Bankex, Power, Oil and Gas and Realty indices. The top gainers from the BSE-30 were HUL and ITC. The top losers were Sterlite, HDFC, Tata Power, ICICI Bank and Grasim.

With the Nifty closing just above the 2700 supports, we could see some short term bounce tomorrow. The trend nevertheless remains down and we therefore expect any upsides to be of a short term nature. Traders can use these upsides to build shorts.

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Markets end sharply lower

20 Jan 2009 | 18:29
Markets end sharply lower

Indian markets ended lower today on the back of weak global cues. While the Sensex closed 229.02pts or 2.45% lower at 9,100.55, the Nifty lost 49.6pts or 1.74% to close at 2796.6. The broad market indices out performed as the BSE Midcap and Small Cap indices were down by only 0.90% and 0.36% respectively. Market breadth was negative as A/D ratio was 0.76:1 on the BSE. NSE cash turnover was lower at Rs.7081.4crs. Vs. Rs.6,819crs. on Monday.

Barring the BSE Power index, all the sectoral indices ended lower. The top losers were the BSE Metals, Realty, Bankex and Oil and Gas indices. The top gainers from the BSE-30 were NTPC, Rel Infra and Tata Power. The top losers were Tata Steel ,Bharti, Sterlite, RCom, JP associates and HDFC.

The 2800 levels acted as a strong resistance today as the Nifty failed to move above those levels after opening on a weak note. We recommend traders to remain on the sidelines till there is more clarity on market direction. A move above 2850 could lead to further upsides while a close below the 2750 supports could lead to a sharp fall.

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Markets end on a flat note

19 Jan 2009 | 18:27
Markets end on a flat note

It was a lacklustre session for the markets as they traded in a narrow range before finally closing marginally higher. The markets were however trading in positive territory for most of the day on the back of positive global cues, as the United Kingdom government unveiled a second bank bailout plan today. Volumes were thin.

While the Sensex closed 5.98pts or 0.06% higher at 9,329.57, the Nifty gained 17.75pts or 0.63% to close at 2846.2. The broad market indices out performed as the BSE Midcap and Small Cap indices were up by 0.55% and 1.13% respectively. This explains the positive market breadth as A/D ratio was 1.32:1 on the BSE. NSE cash turnover was lower at Rs.6,819crs. Vs. Rs.7,269crs. on Friday.

The sectoral indices was a mixed bag. The top gainers were the BSE Realty, Metals, Oil and Gas and Capital Goods indices. The top losers were the BSE Bankex, IT, Healthcare and Auto indices. The top gainers from the BSE-30 were JP Associates, Sterlite, ONGC, Bharti, Tata Steel and Hindalco. The top losers were M&M, Grasim, ICICI Bank, Wipro and Tata Motors.

The 2850 levels acted as a strong resistance today as though the Nifty moved above it during the day, it finally closed marginally below it. The underlying current nevertheless remains positive as evidenced by the positive market breadth. Weakness could however emerge if the Nifty closes below the 2820-2800 supports. We recommend adopting a selective buying approach with a short term perspective as we believe any further upsides are likely to be of a short term nature.

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Markets close with spectacular gains

16 Jan 2009 | 18:32
Markets close with spectacular gains

Markets moved up sharply today on the back of huge buying interest and positive global cues. While the Sensex closed 276.85pts or 3.06% higher at 9,323.59, the Nifty gained 91.75pts or 3.35% to close at 2828.45. The broad market indices under performed as the BSE Midcap and Small Cap indices were up by 0.53% and 0.07% respectively. Market breadth was marginally positive as A/D ratio was 1.07:1 on the BSE. NSE cash turnover was lower at Rs.7,269 crs. Vs. Rs.8179crs. on Friday.

Barring the BSE Realty index, all the sectoral indices ended higher. The BSE Oil and Gas index was the top gainer followed by the BSE Power, Metals and Bankex indices. The top gainers from the BSE-30 were NTPC, Rel infra, Reliance, Tata Power, Rcom and Bharti. The top losers were DLF, TCS, Grasim and ACC.

Though the markets have closed strongly today, it remains to be seen if the strength seen today can sustain next week. Traders need to watch the 2850 levels on the Nifty as a move above these resistances could give the bulls the upper hand.

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Markets plunge as they erase Wednesday’s gains Markets fell today and erased all of Wednesday’s gains.

15 Jan 2009 | 18:13
Markets plunge as they erase Wednesday's gains Markets fell today and erased all of Wednesday's gains.

Markets plunge as they erase Wednesday's gains Markets fell today and erased all of Wednesday's gains. Weak global cues fuelled the negative sentiments. The fall came despite a dip in inflation numbers. While the Sensex closed 323.75pts or 3.45% lower at 9,046.74, the Nifty lost 98.6pts or 3.48% to close at 2736.7. The broad market indices lost less as the BSE Midcap and Small Cap indices were down by 1.72% and 2.16% respectively. Market breadth was negative as A/D ratio was 0.42:1 on the BSE. NSE cash turnover was lower at Rs.8179crs. Vs. Rs.8,277crs. on Wednesday.

All the sectoral indices ended lower. The BSE Bankex was the top loser followed by the BSE Realty, Metals, IT and Power indices. The top losers from the BSE-30 were JP Associates, Tata Steel, ICICI Bank, Sterlite and RCom. Grasim was the lone gainer.

The bounce back seen yesterday has proved short lived as the markets plunged once again today. The short term trend therefore continues to remain down. Traders are recommended to remain on the sidelines till we see evidence of a new uptrend.

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Markets witness a strong rally after five sessions of weakness The Indian markets closed on a strong note after five consecutive sessions of losses.

14 Jan 2009 | 18:43
Markets witness a strong rally after five sessions of weakness The Indian markets closed on a strong note after five consecutive sessions of losses.

Markets witness a strong rally after five sessions of weakness The Indian markets closed on a strong note after five consecutive sessions of losses. Both the Sensex and the Nifty closed above the psychologically crucial levels of 9,300 and 2,800. The rally came on the back of positive Asian cues.

While the Sensex closed 299.13pts or 3.3% higher at 9,370.49, the Nifty gained 90.35pts or 3.29% to close at 2835.3. The broad market indices under performed as the BSE Midcap and Small Cap indices gained only 1.9% and 1.26% respectively. Market breadth was positive as A/D ratio was 1.43:1 on the BSE. NSE cash turnover was lower at Rs.8,277crs. Vs. Rs.9,450crs. on Tuesday.

All the sectoral indices ended higher. The BSE oil and gas index was the top gainer followed by the BSE IT, Realty and Metal indices. The top gainers from the BSE-30 were RCom, Rel Infra, RIL, Infosys and M&M. The top losers were Grasim, Sun Pharma, HDFC Bank and HUL.

Though the markets have bounced back sharply, the short term trend continues to remain down. We therefore believe the current rally could be short lived. Possible upsides for the Nifty are 2850-2900. Traders entering into long positions must ensure that they exit their positions before the markets resume their downtrend.

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Markets close lower; Infosys up on better than expected numbers

13 Jan 2009 | 18:48
Markets close lower; Infosys up on better than expected numbers The markets closed on a weak note for the fifth day in a row today. A fall in the European markets added to the negative sentiments in the market.

Markets close lower; Infosys up on better than expected numbers The markets closed on a weak note for the fifth day in a row today. A fall in the European markets added to the negative sentiments in the market. While the Sensex closed 38.69pts or 0.42% lower at 9,071.36, the Nifty lost 28.15pts or 1.02% to close at 2744.95. The broad market indices too ended lower as the BSE Midcap and Small Cap indices were down by 1.43% and 1.51% respectively. Market breadth continued to remain weak as A/D ratio was 0.51:1 on the BSE. NSE cash turnover was lower at Rs.9,450crs. Vs. Rs.9,692 crs. on Monday.

The sectoral indices were a mixed bag. The BSE IT index was the outperformer as it gained 4.71%. Other gainers were the BSE Consumer Durables, FMCG and Realty. The top losers were the BSE Oil and Gas, Bankex, Metal and Power indices. The top losers from the BSE-30 were RCom, HDFC, Tata Motors, ONGC and JP Associates. The top gainers were Infosys, Wipro, Ranbaxy and Tata Power.

The bears continue to retain the upper hand as we remain open to the possibilities of the Nifty testing the 2600-2500 levels in the coming days. Short term upmoves can however be expected till the 2850 levels on the Nifty. We continue with our strategy of going slow on fresh longs till we see signs of sustainable strength.

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Mkts shrug off +ve IIP data as they end sharply lower The bleeding continued for the third day running as markets shrugged off positive IIP data.

12 Jan 2009 | 00:00
Mkts shrug off +ve IIP data as they end sharply lower The bleeding continued for the third day running as markets shrugged off positive IIP data.

Mkts shrug off +ve IIP data as they end sharply lower The bleeding continued for the third day running as markets shrugged off positive IIP data. Frontrunners from infrastructure, oil & gas, banking, realty, telecom and metal sectors took a huge beating today. The effects of Satyam scam was also seen in today's trade as shares of Andhra Pradesh-based companies and companies with exposure to Satyam or Maytas Infra witnessed selling pressure.

While the Sensex closed 296.42pts or 3.15% lower at 9,110.05, the Nifty lost 99.9pts or 3.48% to close at 2773.1. The broad market indices too ended lower as the BSE Midcap and Small Cap indices were down by 2.27% and 1.7% respectively. Market breadth continued to remain weak as A/D ratio was 0.51:1 on the BSE. NSE cash turnover was lower at Rs.9,692crs. Vs. Rs.12,988crs. on Friday.

All the sectoral indices ended in the red. The top losers were the BSE Metal, Realty, IT, Power and Capital goods indices. The top losers from the BSE-30 were Wipro, Rel infra, Tata Steel, Ranbaxy and DLF. The top gainers were Sun Pharma and JP Associates.

With the Nifty closing below the crucial 2850-2800 supports, the bears seem to have the upper hand now. Immediate downsides are now at 2700. We continue with our strategy of going slow on fresh longs till we see signs of sustainable strength.

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Markets close lower; Infosys up on better than expected numbers

13 Jan 2009 | 18:48
Markets close lower; Infosys up on better than expected numbers The markets closed on a weak note for the fifth day in a row today. A fall in the European markets added to the negative sentiments in the market.

Markets close lower; Infosys up on better than expected numbers The markets closed on a weak note for the fifth day in a row today. A fall in the European markets added to the negative sentiments in the market. While the Sensex closed 38.69pts or 0.42% lower at 9,071.36, the Nifty lost 28.15pts or 1.02% to close at 2744.95. The broad market indices too ended lower as the BSE Midcap and Small Cap indices were down by 1.43% and 1.51% respectively. Market breadth continued to remain weak as A/D ratio was 0.51:1 on the BSE. NSE cash turnover was lower at Rs.9,450crs. Vs. Rs.9,692 crs. on Monday.

The sectoral indices were a mixed bag. The BSE IT index was the outperformer as it gained 4.71%. Other gainers were the BSE Consumer Durables, FMCG and Realty. The top losers were the BSE Oil and Gas, Bankex, Metal and Power indices. The top losers from the BSE-30 were RCom, HDFC, Tata Motors, ONGC and JP Associates. The top gainers were Infosys, Wipro, Ranbaxy and Tata Power.

The bears continue to retain the upper hand as we remain open to the possibilities of the Nifty testing the 2600-2500 levels in the coming days. Short term upmoves can however be expected till the 2850 levels on the Nifty. We continue with our strategy of going slow on fresh longs till we see signs of sustainable strength.

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Satyam pulls down markets once again

09 Jan 2009 | 18:36
Satyam pulls down markets once again

Markets closed lower for the second consecutive day amid high volatility. The culprit was Satyam once again as it witnessed a sharp fall today as well. The stock touched a new 52-week low of 6.30 on the NSE and lost around 41%, to close at Rs 23.75. It was also the last day of trade for Satyam on the BSE Sensex and NSE Nifty as it was announced that Satyam would be replaced by Sun Pharma and Reliance Capital respectively on the two indices.

While the Sensex closed 180.41pts or 1.88% lower at 9,406.47, the Nifty lost 47.4pts or 1.62% to close at 2873. The broad market indices lost even more as the BSE Midcap and Small Cap indices were down by 2.41% and 2.92% respectively. Market breadth continued to remain weak as A/D ratio was 0.31:1 on the BSE. NSE cash turnover was lower at Rs.12,988crs. Vs. Rs.15,509crs. on Wednesday.

Most of the sectoral indices ended in the red. The top losers were the BSE Metal, Realty, Capital goods, Oil and Gas and Consumer Durables indices. The top losers from the BSE-30 were Satyam, Rcom, Sterlite, Tata Steel, Rel Infra and DLF. The top gainers were TCS, HUL, NTPC, M&M and Maruti.

Though the markets have fallen further, the Nifty managed to close above the 2850 supports. The sentiments nevertheless remain weak as evidenced by the weak market breadth. We continue with our strategy of going slow on fresh longs till we see signs of sustainable strength.

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Satyam scandal pulls down markets

07 Jan 2009 | 18:50
Satyam scandal pulls down markets

The multi-thousand crore Satyam scandal that was uncovered early this morning led to a heavy sell-off in the markets today. B Ramalinga Raju, the outgoing chairman of Satyam, admitted to cooking up figures in the Satyam balance sheet. The abortive Matyas deal last month that brought the company much bad press was also aimed to cover his tracks.

While the Sensex closed 749.05pts or 7.25% lower at 9,586.88, the Nifty lost 192.4pts or 6.18% to close at 2920.4. The broad market indices too ended lower as the BSE Midcap and Small Cap indices were down by 7.17% and 6.29% respectively. Market breadth was pathetic as A/D ratio was 0.2:1 on the BSE. NSE cash turnover was higher at Rs.15,509crs. Vs. Rs.13,087crs. on Tuesday.

All the sectoral indices ended in the red. The top losers were the BSE Realty, Oil and Gas, IT, Bankex and Capital goods indices. The top losers from the BSE-30 were Satyam, JP Associates, Rcom, DLF, Rel infra and Reliance. The top gainers were HUL, Infosys, Maruti and Wipro.

With the Satyam debacle, the market sentiment has turned negative. The Nifty has also reversed it's short term uptrend by closing below the previous lows of 3050. Downside supports to watch now are at 2900-2850. We recommend a go slow approach with respect to fresh longs till we see signs of sustainable strength.

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Markets consolidating

06 Jan 2009 | 18:37
Markets consolidating

Indian markets closed on a flat note after a volatile session. Asian markets ended mixed. While the Sensex closed 60.33pts or 0.59% higher at 10,335.93, the Nifty lost 8.65pts or 0.28% to close at 3112.8. The broad market indices ended lower as the BSE Midcap and Small Cap indices were down by 0.19% and 0.23% respectively. Market breadth was marginally negative as A/D ratio was 0.98:1 on the BSE. NSE cash turnover was higher at Rs.13,087crs. Vs. Rs.10,885crs. on Monday.

The sectoral indices were a mixed bag. While the top gainers were the BSE Metals, Bankex and Auto indices, the top losers were the BSE Realty, Consumer durables and Power indices. The top gainers from the BSE-30 were Grasim, ACC, JP associates, Satyam and M&M. The top losers were RCom, DLF, Bharti, Tata Power and Rel Infra.

We are not too worried with today's volatility as it has come after three sessions of gains. Markets need to take time to digest the recent gains as there will be traders who opt to churn their positions. We remain open to our upside targets at 3150-3250 as the Nifty continues to trade above the 3100 resistances. Traders are recommended to adopt a selective buying approach, especially on declines. Stop losses can be kept at 3050 as this uptrend would reverse on a close below the same level.

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Breakouttttttt

05 Jan 2009 | 18:10
Breakouttttttt

The RBI's rate cut move and government's second fiscal stimulus package kept the markets in buoyant mood today. Positive global cues also provided support as the main indices managed to break out of key resistance levels.

While the Sensex closed 317.38pts or 3.19% higher at 10,275.6, the Nifty gained 74.7pts or 2.45% to close above the key resistance levels of 3100 at 3121.45. The broad market indices under performed as the BSE Midcap and Small Cap indices were up by only 1.78% and 1.21% respectively. Market breadth was positive as A/D ratio was 1.96:1 on the BSE. NSE cash turnover was higher at Rs.10,885crs. Vs. Rs.10,460crs. on Friday.

Barring the BSE FMCG and Realty indices, all the sectoral indices ended higher. The biggest gainers were the BSE Metals, Oil and Gas, Bankex and Capital goods. The top gainers from the BSE-30 were Sterlite, Tata Power, JP Associates and Tata Steel. The top losers were Satyam, Bharti Airtel, DLF, NTPC and HUL.

Markets have broken out of their recent highs, which suggest further upsides in the coming sessions. The next upside targets for the Nifty are now at 3150-3250 as it has closed above the 3100 resistances. Traders are recommended to adopt a selective buying approach, especially on declines. Stop losses can be kept just below 3070 as this uptrend would reverse on a close below the same level.

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Markets inch up further

02 Jan 2009 | 18:27
Markets inch up further

Markets traded in a range and seemed to be in consolidation mode after yesterday's New Year rally. The main indices managed to close with modest gains. While the Sensex closed 54.76pts or 0.55% higher at 9,958.22, the Nifty gained 13.3pts or 0.44% to close at 3046.75. The broad market indices outperformed as the BSE Midcap and Small Cap indices were up by 2.17% and 1.58% respectively. This explains the positive market breadth as A/D ratio was 2.08:1 on the BSE. NSE cash turnover was higher at Rs.10,460crs. Vs. Rs.7,016crs. on Thursday.

Barring the BSE IT index, all the sectoral indices ended higher. The biggest gainers were the BSE Consumer Durables, Realty, Bankex and Power indices. The top gainers from the BSE-30 were Hindalco, DLF, Rel Infra, HDFC, Tata Motors and Reliance. The top losers were Satyam, Bharti Airtel, Wipro and Tata Power.

Markets seem to be in consolidation mode after yesterday's new year rally. Traders need to watch the 3025 Nifty supports as a close below these levels could lead to weakness and a testing of the 3000-2980 levels. On the other hand, a move above today's high of 3080 could see the Nifty racing towards the 3100-3150 levels.

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Markets end lower on the last day of 2008 Markets closed lower on the last trading day of 2008.

31 Dec 2008 | 17:57
Markets end lower on the last day of 2008 Markets closed lower on the last trading day of 2008.

Markets end lower on the last day of 2008 Markets closed lower on the last trading day of 2008. After trading in a range during the morning session, the bulls gave in as selling pressure pulled the indices lower in the afternoon session. While the Sensex closed 68.85pts or 0.71% lower at 9,647.31, the Nifty lost 20.35pts or 0.68% to close at 2959.2. The broad market indices however bucked the weakness as the BSE Midcap and Small Cap indices were up by 0.59% and 1.31% respectively. Market breadth was positive as A/D ratio was 1.6:1 on the BSE. NSE cash turnover was lower at Rs.8,947crs. Vs. Rs.9005.1crs. on Tuesday.

The sectoral indices ended on a mixed note. The biggest gainers were the BSE Consumer Durables, Auto and Healthcare indices. The biggest losers were the BSE Bankex, Oil and Gas and Realty indices. The top gainers from the BSE-30 were Satyam, Ranbaxy, Tata Motors and Hindalco. The top losers were HDFC, ICICI Bank, HDFC Bank and Sterlite.

Though the markets have closed lower, the short term trend continues to remain up with a reversal at 2900 on the Nifty. We recommend traders buying any stocks to keep a Nifty stop loss below 2900.

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