Sector Avoid: Metal, Banking & Real Estate
Friday, January 29, 2010
Market Commentary ...
Today,we expect a weak start and the Nifty could slip below 4800. Hopefully, some semblance of buying will give support else the Nifty could drop to as low as 4650-4680. Resistance is expected between 4900 and 4950. We do not rule out the possibility of a rebound above 5000, if the RBI hikes only the CRR.
There is no time to live with the gains of yesterday. A positive close came in after six successive days of losses. The little smiles could get wiped out early this morning as most global markets are down. Asian stock markets got off to a shaky start after the overnight fall on Wall Street. However, the Shanghai Composite has recovered and is trading just in the green.
Volatility is likely to remain elevated in the near term due to the global jitters and relentless selling by the FIIs. The spate of primary market issues, especially from the Government could also cause a few temporary hiccups. Going further ahead, speculation over the Budget will take precedence and one hopes the UPA doesn’t disappoint this time.
Thursday, January 28, 2010
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Sector Avoid: Hotel, Metal & Aviation
Market likely to volatile
3 Consecutive close below 4860
will take Nifty Future to 4730-4677
IPO updates ..
D. B. Realty Ltd. IPO Opens on 29th Jan to 2nd Feb.
Emmbi Polyarns Ltd. IPO Opens on 1st Feb to 3rd Feb.
Aqua Logistics IPO 2nd Day Subscribed 0.11 (Average)
Syncom Healthcare IPO 1st Day Subscribed 0.48 (Average)
Thangamayil Jewellery IPO 1st Day Subscribed 0.11 (Average)
Vascon Engg. IPO 1st Day Subscribed 0.23 (Average)
Aegis Ltd IPO may hit markets by May 2010. (BS)
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Power Grid Corp Board has given in-principle approval for a FPO. (BS)
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Board of Directors of HUL has approved a proposal to merge its wholly-owned subsidiary Bon with itself with effect from April 1, 2010. (ET)
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CESC Ltd is now leading the race to secure power distribution licence for Patna. (BL)
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Tata Steel awaits Jharkhand resettlement and rehabilitation policies to start a 12mtpa Greenfield project near Tontaposhi. (FE)
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FIIs were net sellers in the cash segment on Wednesday at Rs22.12bn on a provisional basis. The local funds were net buyers of Rs14.75bn, according to figures published on the NSE's web site. In the F&O segment, the foreign funds were net sellers at Rs7.49bn. As per the SEBI figures, FIIs were net sellers of Rs9bn in the cash segment on Monday.
Market Commentary ...
The worst of the storm has passed for the economy, says President Obama in the State of the Union address minutes ago. After having a torrid time over the last few sessions and suffering heavy losses, bulls could heave a sigh of relief today.Things appear to be stabilising a bit after the recent storm. US stocks ended higher and a rebound in Asian markets. European stocks closed in the red, dragged down by losses in banks. We expect a higher opening on firm global cues. The SGX Nifty futures are pointing to a 1% gain at start.
Volatility could escalate due to the F&O expiry as also due to the near-term uncertainties. The Nifty could cross 4900 but it remains to be seen if it sustains above that level. The Nifty will find it tough to surpass 5000 unless FIIs turn buyers again and global mood improves.The central bank is expected to hike CRR. The market could stage a meaningful recovery in the ensuing days if the RBI does not spring a nasty surprise.
Results Today:
Aban Offshore, Alstom Projects, Apollo Hospitals, Avaya Global, BOI, Bharati Shipyard, Blue Dart, BPCL, BPL, Britannia, Cairn India, Canara Bank, Central Bank, Cipla, Colgate India, Crompton Greaves, Den Networks, Dena Bank, Dredging Corp., Engineers India, Federal Bank, GMR Infra, IOB, IRB Infra, IVRCL Infra, J&K Bank, Jai Corp., Jain Irrigation, Jindal Steel, Jindal Stainless, Kesoram, Madras Cements, Marico, MRF, Mundra Port, Opto Circuits, OBC, Pidilite, Reliance Media, Tata Steel, Tata Tea, Torrent Power, Ucal Fuel and United Phosphorus.
Wednesday, January 27, 2010
सेन्सेक्स (16289.82) -490.64 अंक गिरकर, नीफ़्टी (4853.10) -154.80 अंक गिरकर, बंद..
Stock Maket down 490 pts,
markets see highest-ever turnover
The markets reported highest ever turnover of Rs 1,82,984.16 crore, including biggest ever NSE F&O turnover of Rs 1,58,503.98 crore, which might be because of margin calls. The NSE cash turnover was at Rs 18,715.98 crore and BSE cash at Rs 5,764.20 crore.
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