Sell RPOWER@326.00
Sell RCOM@493.50
SELL FCH@548.00
Tuesday, March 18, 2008
Asain Markets Tumble
Asian market gets carck from the higher position moving towards deep red now :(
Nikkei 225 11,834.54 +47.03 +0.40%
Hang Seng 20,695.62 -388.99 -1.84%
Straits Times 2,768.54 -24.21 -0.87%
Nikkei 225 11,834.54 +47.03 +0.40%
Hang Seng 20,695.62 -388.99 -1.84%
Straits Times 2,768.54 -24.21 -0.87%
Indian Pre Market Report 18/03/2008
As per market buzz, a portfolio management scheme run by one of the biggest operators is facing big redemptions. With this being a curtailed trading week, traders are unlikely to build large positions. The market remains closed on Thursday (20 March 2008) on account of Id-E-Milad and on Friday (21 March 2008) on account of Good Friday.
The specter of more margin calls after a recent sharp slide may weigh on the bourses. Sensex tanked 951.03 points or 6.03% at 14,809.49 on Monday, 17 March 2008, as the fire sale of ailing US bank Bear Stearns and the Federal Reserve's emergency cut in its discount rate intensified concerns that there could be more victims of the global credit crisis. It was the second biggest single day point loss in the barometer index. Margin calls are normally triggered when markets show hyper volatility or witness abnormal slides
As per provisional data, FIIs sold shares worth a net Rs 658.22 crore on Monday, 17 March 2008. Local funds bought shares worth a net Rs 211.48 crore on that day. Foreign institutional investors (FIIs) were net sellers of Rs 435.32 crore in the futures & options segment on Monday. According to data released by the NSE, FIIs were net sellers of index futures to the tune of Rs 287.77 crore and bought index options worth Rs 69.60 crore. They were net sellers of stock futures to the tune of Rs 204.87 crore and sold stock options worth Rs 12.29 crore
The specter of more margin calls after a recent sharp slide may weigh on the bourses. Sensex tanked 951.03 points or 6.03% at 14,809.49 on Monday, 17 March 2008, as the fire sale of ailing US bank Bear Stearns and the Federal Reserve's emergency cut in its discount rate intensified concerns that there could be more victims of the global credit crisis. It was the second biggest single day point loss in the barometer index. Margin calls are normally triggered when markets show hyper volatility or witness abnormal slides
As per provisional data, FIIs sold shares worth a net Rs 658.22 crore on Monday, 17 March 2008. Local funds bought shares worth a net Rs 211.48 crore on that day. Foreign institutional investors (FIIs) were net sellers of Rs 435.32 crore in the futures & options segment on Monday. According to data released by the NSE, FIIs were net sellers of index futures to the tune of Rs 287.77 crore and bought index options worth Rs 69.60 crore. They were net sellers of stock futures to the tune of Rs 204.87 crore and sold stock options worth Rs 12.29 crore
Asian market back to red
Asian market comes down in a volatile market condition,. Asian markets moving towards red, after deep correction from higher levels, Only nikkei could sustain +ve trade. All the other Asian markets trading in red.
Nikkei 225 11,959.56 +172.05 +1.46%
Hang Seng 20,927.57 -157.04 -0.74%
Straits Times 2,787.67 -5.08 -0.18%
Nikkei 225 11,959.56 +172.05 +1.46%
Hang Seng 20,927.57 -157.04 -0.74%
Straits Times 2,787.67 -5.08 -0.18%
asian markets Open in green
Asain Markets opens gap up and trading in +ve range. In expectation of Fed rate asian markets doing well
Fed Primed to Cut Key Interest Rate - US markets recover
The Federal Reserve is primed to aggressively cut a key interest rate even lower on Tuesday, racing to contain spreading financial fires that threaten an economic meltdown.
Market is seeing The rate cut will be minimum of 0.75 or more. If it is not then very dangerous for the market
US closing:
Dow 11,972.25 +21.16 +0.18%
Nasdaq 2,177.01 -35.48 -1.60%
S&P 500 1,276.60 -11.54 -0.90%
Market is seeing The rate cut will be minimum of 0.75 or more. If it is not then very dangerous for the market
US closing:
Dow 11,972.25 +21.16 +0.18%
Nasdaq 2,177.01 -35.48 -1.60%
S&P 500 1,276.60 -11.54 -0.90%
Fed cuts lending rate to financial institutions to 3.25 percent from 3.50 percent
The Federal Reserve is urgently moving to contain a deepening credit crisis and restore confidence in panicked financial markets by becoming a lender of last resort for Wall Street investment houses, which were able to secure short-term emergency loans beginning Monday.
The central bank, in an extraordinarily rare weekend move, took the bold action Sunday in an attempt to calm the markets. It also approved a cut in its emergency lending rate to financial institutions to 3.25 percent from 3.50 percent, effective immediately.
On Wall Street, investors remained somewhat skittish. The Dow Jones industrials, which were down more than 175 points in early trading, moved into positive territory later in the morning. Trading on world markets was down sharplyThe Fed acted just after JPMorgan Chase & Co. agreed to buy rival Bear Stearns Cos. for $236.2 million in a deal that represents a stunning collapse for one of the world's largest and most venerable investment houses. Just on Friday the Fed had raced to provide emergency financing to cash-strapped Bear Stearns through JPMorgan. Days earlier the Fed announced a set of other unconventional steps to thaw out a credit market in danger of freezing shut.
The Fed's actions come as fears have spread that other financial houses could also be on shaky ground.
The central bank, in an extraordinarily rare weekend move, took the bold action Sunday in an attempt to calm the markets. It also approved a cut in its emergency lending rate to financial institutions to 3.25 percent from 3.50 percent, effective immediately.
On Wall Street, investors remained somewhat skittish. The Dow Jones industrials, which were down more than 175 points in early trading, moved into positive territory later in the morning. Trading on world markets was down sharplyThe Fed acted just after JPMorgan Chase & Co. agreed to buy rival Bear Stearns Cos. for $236.2 million in a deal that represents a stunning collapse for one of the world's largest and most venerable investment houses. Just on Friday the Fed had raced to provide emergency financing to cash-strapped Bear Stearns through JPMorgan. Days earlier the Fed announced a set of other unconventional steps to thaw out a credit market in danger of freezing shut.
The Fed's actions come as fears have spread that other financial houses could also be on shaky ground.
US markets tumble again in afternoon trade
Us markets fallen down in a volatile trade..
Market @10:40PM IST
Dow 11,841.35 -109.74 -0.92%
Nasdaq 2,165.37 -47.12 -2.13%
S&P 500 1,264.17 -23.97 -1.86%
Market @10:40PM IST
Dow 11,841.35 -109.74 -0.92%
Nasdaq 2,165.37 -47.12 -2.13%
S&P 500 1,264.17 -23.97 -1.86%
US markets recovers. Dow trading +ve
Wall Street clawed back from sharp losses Monday as investors snapped up bargain stocks following JPMorgan Chase & Co.'s government-backed buyout of the stricken investment bank Bear Stearns Cos.
US markets recovers from Deep
US Market at 8:30PM IST
Dow 11,880.50 -70.59 -0.59%
Nasdaq 2,185.29 -27.20 -1.23%
S&P 500 1,272.27 -15.87 -1.23%
Europe market continue asian trend closes Deep in red
FTSE 100 5,485.30 -146.40 -2.60%
DAX 6,223.38 -228.52 -3.54%
CAC 40 4,477.92 -114.23 -2.49%
Dow 11,880.50 -70.59 -0.59%
Nasdaq 2,185.29 -27.20 -1.23%
S&P 500 1,272.27 -15.87 -1.23%
Europe market continue asian trend closes Deep in red
FTSE 100 5,485.30 -146.40 -2.60%
DAX 6,223.38 -228.52 -3.54%
CAC 40 4,477.92 -114.23 -2.49%
Us markets open in deep red
Wall Street tumbled in early trading Monday as Wall Street and other global markets reeled from JPMorgan Chase & Co.'s government-backed buyout of the invalid investment bank Bear Stearns Cos. The Dow Jones industrials fell about 150 points in the first few minutes of trading.
Market 8:00PM IST
Dow 11,880.50 -70.59 -0.59%
Nasdaq 2,183.24 -29.25 -1.32%
S&P 500 1,271.91 -16.23 -1.26%
Market 8:00PM IST
Dow 11,880.50 -70.59 -0.59%
Nasdaq 2,183.24 -29.25 -1.32%
S&P 500 1,271.91 -16.23 -1.26%
17th March, THE BLACK MONDAY of indian Market
Yes, this is the black monday we ever had, with both sensex and Nifty losing ground with falling in a day the second highest ever fall.
The market tumbled today as the fire sale of ailing US bank Bear
Stearns and the Federal Reserve's emergency cut in its discount
rate intensified concerns that there could be more victims of the
global credit crisis
A setback in global markets rattled domestic bourses today as the
Sensex posted its biggest single-day point fall. The fall on the
bourses accentuated in late trade as BSE Sensex fell more than
1,000 points at the fag end of the trading session. Heavy selling
was seen in banking stocks. ICICI Bank, HDFC, Hindalco Industries,
Reliance Communications, Tata Steel and Reliance Energy were among
the top losers from Sensex pack. The market breadth was weak.
The 30-share BSE Sensex lost 951.03 points or 6.03% at 14,809.49.
It hit a low of 14,739.72 in late trade, its lowest level since
late August 2007. At day's low Sensex fell 1,020.80 points in late
trade.The 30-share BSE Sensex lost 951.03 points or 6.03% at 14,809.49.
It hit a low of 14,739.72 in late trade, its lowest level since
late August 2007. At day's low Sensex fell 1,020.80 points in late
trade.BSE Clocked a turnover of Rs 5,701 crore today 17 March 2008
compared to a turnover of Rs 5,914.99 on Friday,14 March 2008.
Nifty March 2008 futures were at 4477, at a discount of 26.10
points as compared to spot closing of 4503.10.
The NSE's futures & options (F&O) segment turnover was Rs 40,058.11
crore, which was lower than Rs 40,184.57 crore on Friday, 14 March
2008.
Consumer durable index was major loser among sectoral indices on
BSE. It fell more than 10%. Fertiliser stocks plunged. All the BSE
secoral indices were in red.
The market breadth was weak: On BSE 2,405 shares declined as
compared to 282 shares that advanced. 43 shares remained unchanged.
The BSE Mid-Cap index fell 6.97 % to 6,124.35 and BSE Small-Cap
index declined 6.9% to 7,522.23. Both these indices underperformed
Sensex.
BSE Consumer Durables index (down 9.69% to 3,638.56), BSE Metal
index (down 7.54% to 13,725.52), BSE Bankex (down 9.06% to
7,569.16), BSE Realty index (down 7.86% to 7,106.53) , BSE Capital
Goods index (down 6.43% to 12,706.31) underperformed Sensex.
BSE PSU index (down 4.97% to 7,153.44), BSE IT index (down 3.2% to
3,297.71), BSE Oil & Gas index (down 5.34% to 9,801.86),BSE Power
index (down 5.58% to 2,973.68), BSE HealthCare index (down 5.2% to
3,621.90), BSE Auto index (down 4.62% to 4,329.46), and BSE FMCG
index (down 3.18% to 2,119.60) outperformed Sensex.
India's largest private sector company in terms of market
capitalisation and oil refiner Reliance Industries declined 6.08%
to Rs 2,180.60..
Jaiprakash Associates (down 11.94% to Rs 208.05), HDFC (down 11.07%
to Rs 2,225.55), Reliance Energy (down 8.13% to Rs 1,190.80),
Hindalco Industries (down 9.2% to Rs 164.85), Tata Steel (down
7.93% to Rs 658.50), Grasim Industries (down 6.55% to Rs 2,670.85)
and Larsen & Toubro (down 7.03% to Rs 2,703.50), were major losers
from Sensex pack.
Banking stocks declined further in late trade. India's largest
commercial bank by net profit State Bank of India declined 4.72% to
Rs 1,633.40. ICICI Bank (down 13.76% to Rs 757.40), HDFC Bank (down
5.89% to Rs 1,238.50) edged lower.
Consumer durables stocks extended losses. Titan Industries (down
13.03% to Rs 930.05), Rajesh Exports (down 15.58% to Rs 79.65),
Videocon Industries (down 7.46% to Rs 279.30) and Blue Star (down
10.26% to Rs 380.50) edged lower.
India's biggest power-equipment maker by sales Bharat Heavy
Electricals (BHEL) declined 4.41% to Rs 1,796.05. As per reports,
the company will acquire Vizag-based Bharat Heavy Plates and
Vessels by the first half of 2008/09.
India's largest telecom services provider by sales Reliance
Communications fell 6.87% to Rs 482.75. It added 1.61 million
mobile subscribers in February 2008. The firm had 42.6 million
mobile subscribers at the end of January 2008.
Reliance Power declined 6.45% to Rs 315.70. It has reportedly
struck a deal to buy out a coal mine in Indonesia. The valuation of
the coal mine, based on its reserves, is estimated to be around Rs
20,000 crore.
Fertiliser stocks slumped. National Fertiliser (down 13.45% to Rs
38.60), Mangalore Chemicals & Fertilisers (down 10% to Rs 18.20),
Nagarjuna Chemicals & Fertilisers (down 7.79% to Rs 36.10), Chambal
Fertilisers & Chemicals (down 7.23% to Rs 48.75), Coromandel
Fertilisers (down 7.81% to Rs 103.30), Deepak Fertilisers (down
12.85% to Rs 92.60) edged lower.
Cairn India declined 6.61% to Rs 213.30. The company said today, 17
March 2008 before market hours its board will meet on 17 March 2008
to consider a preferential issue of equity shares.
Reliance Natural Resources clocked the highest volume of 2.26 crore
shares on BSE. Orchid Chemicals & Pharmaceuticals (1.54 crore
shares), Reliance Petroleum (1.37 crore shares), V-Guard Industries
(1.3 crore shares) and Ispat Industries (1.11 crore shares) were
the other volume toppers in that order.
Reliance Industries clocked highest turnover of Rs 274.22 crore on
BSE. GSS America Infotech (Rs 237.04 crore), Reliance Natural
Resources (Rs 232.49 crore), Reliance Petroleum (Rs 215.46 crore )
and Orchid Chemicals & Pharmaceuticals (Rs 206.98 crore) were the
other turnover toppers in that order
The market tumbled today as the fire sale of ailing US bank Bear
Stearns and the Federal Reserve's emergency cut in its discount
rate intensified concerns that there could be more victims of the
global credit crisis
A setback in global markets rattled domestic bourses today as the
Sensex posted its biggest single-day point fall. The fall on the
bourses accentuated in late trade as BSE Sensex fell more than
1,000 points at the fag end of the trading session. Heavy selling
was seen in banking stocks. ICICI Bank, HDFC, Hindalco Industries,
Reliance Communications, Tata Steel and Reliance Energy were among
the top losers from Sensex pack. The market breadth was weak.
The 30-share BSE Sensex lost 951.03 points or 6.03% at 14,809.49.
It hit a low of 14,739.72 in late trade, its lowest level since
late August 2007. At day's low Sensex fell 1,020.80 points in late
trade.The 30-share BSE Sensex lost 951.03 points or 6.03% at 14,809.49.
It hit a low of 14,739.72 in late trade, its lowest level since
late August 2007. At day's low Sensex fell 1,020.80 points in late
trade.BSE Clocked a turnover of Rs 5,701 crore today 17 March 2008
compared to a turnover of Rs 5,914.99 on Friday,14 March 2008.
Nifty March 2008 futures were at 4477, at a discount of 26.10
points as compared to spot closing of 4503.10.
The NSE's futures & options (F&O) segment turnover was Rs 40,058.11
crore, which was lower than Rs 40,184.57 crore on Friday, 14 March
2008.
Consumer durable index was major loser among sectoral indices on
BSE. It fell more than 10%. Fertiliser stocks plunged. All the BSE
secoral indices were in red.
The market breadth was weak: On BSE 2,405 shares declined as
compared to 282 shares that advanced. 43 shares remained unchanged.
The BSE Mid-Cap index fell 6.97 % to 6,124.35 and BSE Small-Cap
index declined 6.9% to 7,522.23. Both these indices underperformed
Sensex.
BSE Consumer Durables index (down 9.69% to 3,638.56), BSE Metal
index (down 7.54% to 13,725.52), BSE Bankex (down 9.06% to
7,569.16), BSE Realty index (down 7.86% to 7,106.53) , BSE Capital
Goods index (down 6.43% to 12,706.31) underperformed Sensex.
BSE PSU index (down 4.97% to 7,153.44), BSE IT index (down 3.2% to
3,297.71), BSE Oil & Gas index (down 5.34% to 9,801.86),BSE Power
index (down 5.58% to 2,973.68), BSE HealthCare index (down 5.2% to
3,621.90), BSE Auto index (down 4.62% to 4,329.46), and BSE FMCG
index (down 3.18% to 2,119.60) outperformed Sensex.
India's largest private sector company in terms of market
capitalisation and oil refiner Reliance Industries declined 6.08%
to Rs 2,180.60..
Jaiprakash Associates (down 11.94% to Rs 208.05), HDFC (down 11.07%
to Rs 2,225.55), Reliance Energy (down 8.13% to Rs 1,190.80),
Hindalco Industries (down 9.2% to Rs 164.85), Tata Steel (down
7.93% to Rs 658.50), Grasim Industries (down 6.55% to Rs 2,670.85)
and Larsen & Toubro (down 7.03% to Rs 2,703.50), were major losers
from Sensex pack.
Banking stocks declined further in late trade. India's largest
commercial bank by net profit State Bank of India declined 4.72% to
Rs 1,633.40. ICICI Bank (down 13.76% to Rs 757.40), HDFC Bank (down
5.89% to Rs 1,238.50) edged lower.
Consumer durables stocks extended losses. Titan Industries (down
13.03% to Rs 930.05), Rajesh Exports (down 15.58% to Rs 79.65),
Videocon Industries (down 7.46% to Rs 279.30) and Blue Star (down
10.26% to Rs 380.50) edged lower.
India's biggest power-equipment maker by sales Bharat Heavy
Electricals (BHEL) declined 4.41% to Rs 1,796.05. As per reports,
the company will acquire Vizag-based Bharat Heavy Plates and
Vessels by the first half of 2008/09.
India's largest telecom services provider by sales Reliance
Communications fell 6.87% to Rs 482.75. It added 1.61 million
mobile subscribers in February 2008. The firm had 42.6 million
mobile subscribers at the end of January 2008.
Reliance Power declined 6.45% to Rs 315.70. It has reportedly
struck a deal to buy out a coal mine in Indonesia. The valuation of
the coal mine, based on its reserves, is estimated to be around Rs
20,000 crore.
Fertiliser stocks slumped. National Fertiliser (down 13.45% to Rs
38.60), Mangalore Chemicals & Fertilisers (down 10% to Rs 18.20),
Nagarjuna Chemicals & Fertilisers (down 7.79% to Rs 36.10), Chambal
Fertilisers & Chemicals (down 7.23% to Rs 48.75), Coromandel
Fertilisers (down 7.81% to Rs 103.30), Deepak Fertilisers (down
12.85% to Rs 92.60) edged lower.
Cairn India declined 6.61% to Rs 213.30. The company said today, 17
March 2008 before market hours its board will meet on 17 March 2008
to consider a preferential issue of equity shares.
Reliance Natural Resources clocked the highest volume of 2.26 crore
shares on BSE. Orchid Chemicals & Pharmaceuticals (1.54 crore
shares), Reliance Petroleum (1.37 crore shares), V-Guard Industries
(1.3 crore shares) and Ispat Industries (1.11 crore shares) were
the other volume toppers in that order.
Reliance Industries clocked highest turnover of Rs 274.22 crore on
BSE. GSS America Infotech (Rs 237.04 crore), Reliance Natural
Resources (Rs 232.49 crore), Reliance Petroleum (Rs 215.46 crore )
and Orchid Chemicals & Pharmaceuticals (Rs 206.98 crore) were the
other turnover toppers in that order
Top loosers/ Gainers of 17th March
Top Losers
ICICI Bank 757.40 -13.76%
Jaiprakash Asso 208.05 -11.94%
HDFC 2222.00 -11.21%
Reliance Energy 1174.00 -9.42%
Top Gainers
None
ICICI Bank 757.40 -13.76%
Jaiprakash Asso 208.05 -11.94%
HDFC 2222.00 -11.21%
Reliance Energy 1174.00 -9.42%
Top Gainers
None
today was 2nd highest fall ever for market!!!
The markets ended near the lowest point of the day with a sharp cut on account of heavy selling in scrips across sectors. It was the second biggest single day point fall for Sensex ever, down nearly 1000 points. It was the lowest close for Nifty since September 2007 and lowest close for Sensex since August 2007.Broader markets underperformed the benchmark indices and both the midcap and smallcap indices are down over 6% each. NSE advance:decline was at 1:17. All sectoral indices closed in red, not a single Sensex & Nifty stock was in green.All BSE sector indices were deep in red. Bankex was top laggard down 9%, followed by realty , metal index down over 8% and oil & gas index were down over 5%.
ICICI BANK worst hit, Markets closes at days low..
ICICI BANK worst hit by todays crash, Down to year low.
NIFTY down 261.25 points- 86 advances to 1154 declains
Sensex down 1020.40 Points
Both break all major supports.. Market breadth is very weak.
NIFTY down 261.25 points- 86 advances to 1154 declains
Sensex down 1020.40 Points
Both break all major supports.. Market breadth is very weak.
Todays performance :( not too good..
Buy GUJARAT N R E COKE LTD @146 given at 10:30 reached 150.
RCOM@495 SL triggered/ Buy not triggered
RNRL@102-103 went up till 104.85
HDFC@2300 SL triggered
RPL@157 went upto 159.45
hindalco@172 went up til 175
voltas@165 SL triggered
RCOM@495 SL triggered/ Buy not triggered
RNRL@102-103 went up till 104.85
HDFC@2300 SL triggered
RPL@157 went upto 159.45
hindalco@172 went up til 175
voltas@165 SL triggered
Monday, March 17, 2008
Buy now with strict sl
RCOM@495
RNRL@102-103
HDFC@2300
RPL@157
hindalco@172
voltas@165
dont keep long book profits at ur levels. Buy with Strict SL
RNRL@102-103
HDFC@2300
RPL@157
hindalco@172
voltas@165
dont keep long book profits at ur levels. Buy with Strict SL
Saturday, March 15, 2008
Todays call performance
Call gien before market
Buy ISPT@32-33 target 34.5/36 open 32.05 high 33.20 low 31.60 current 32.70
Buy Exide Industries Ltd BUY ABOVE 70 target 71.5/75 SL 69 Call opened below recomonded price buy not triggered
Todays good buy is BATA @154-158,Today will kiss Rs.167-179 opened 156.50 high 164.35 low 155.20 current 157.35
Indiabulls Real Estate Limited@510-515 for a target 550/600 sl 495 Call opened below recomonded price buy not triggered
RPL buy@159-160 Target 161.5/167 SL 157.5 open 156 high 162.80 low 154.25 current 161
RPOWER@321-323 target 324.5/330/334 open 321.30 high 327.90 low 315.00 current 326.10
RNRL@103 Target 105/108/110 open 100.00 high 106.40 low 100.00 current 105.35
FCH@490 target 500/520 Call opened below recomonded price buy not triggered
Petronet LNG Limited@69-70 target 71.5/74/76 open 68.60 high 71.20 low 68.05 current 70.25
calls given at 10.30
Buy Satyam@370 target 380/385/390 SL 365 after call given high 383.70 current 380.00
Buy Wipro@362 target 370/372/375 SL 360 after call given high 379.90 current 367.00
Buy Infy@1360 target 1380/1385 SL 1350 after call given high 1,389.00 current 1,360.95
Buy ISPT@32-33 target 34.5/36 open 32.05 high 33.20 low 31.60 current 32.70
Buy Exide Industries Ltd BUY ABOVE 70 target 71.5/75 SL 69 Call opened below recomonded price buy not triggered
Todays good buy is BATA @154-158,Today will kiss Rs.167-179 opened 156.50 high 164.35 low 155.20 current 157.35
Indiabulls Real Estate Limited@510-515 for a target 550/600 sl 495 Call opened below recomonded price buy not triggered
RPL buy@159-160 Target 161.5/167 SL 157.5 open 156 high 162.80 low 154.25 current 161
RPOWER@321-323 target 324.5/330/334 open 321.30 high 327.90 low 315.00 current 326.10
RNRL@103 Target 105/108/110 open 100.00 high 106.40 low 100.00 current 105.35
FCH@490 target 500/520 Call opened below recomonded price buy not triggered
Petronet LNG Limited@69-70 target 71.5/74/76 open 68.60 high 71.20 low 68.05 current 70.25
calls given at 10.30
Buy Satyam@370 target 380/385/390 SL 365 after call given high 383.70 current 380.00
Buy Wipro@362 target 370/372/375 SL 360 after call given high 379.90 current 367.00
Buy Infy@1360 target 1380/1385 SL 1350 after call given high 1,389.00 current 1,360.95
Friday, March 14, 2008
Market might be volatile
Keep booking profit and follow strict SL. Market wil be volatile. Only trade intraday
Buy IT shares@10.30AM IST
Buy Satyam@370 target 380/385/390 SL 365
Buy Wipro@362 target 370/372/375 SL 360
Buy Infy@1360 target 1380/1385 SL 1350
Buy Wipro@362 target 370/372/375 SL 360
Buy Infy@1360 target 1380/1385 SL 1350
Todays market and stock idea
Yesterdays sell off turned market to bearish mood, but the global markets will give some positive news to the market. So gap up opening is expected as some short covering likely to happen today. Upside some resistances at 4723-4805-4867. Reverse from there market wil come down to 4634-4420-4351. Down side more possible so dont go long.
Buy ISPT@32-33 target 34.5/36
Buy Exide Industries Ltd BUY ABOVE 70 target 71.5/75 SL 69
Todays good buy is BATA @154-158,Today will kiss Rs.167-179
Indiabulls Real Estate Limited@510-515 for a target 550/600 sl 495
RPL buy@159-160 Target 161.5/167 SL 157.5
RPOWER@321-323 target 324.5/330/334
RNRL@103 Target 105/108/110
FCH@490 target 500/520
Petronet LNG Limited@69-70 target 71.5/74/76
other hot stocks BAJAJAUTO, CESC, INGERRAND, HAVELLS, ICI, KALPATPOWR,
SIMPLEX, RELGOLD, GRUH, TECHNOELEC, ARIHANT, PRAENG,
DYNAMATECH, ALPHAGEO, ADSL, CHETTINAD, KOTHARIPRO.
Buy ISPT@32-33 target 34.5/36
Buy Exide Industries Ltd BUY ABOVE 70 target 71.5/75 SL 69
Todays good buy is BATA @154-158,Today will kiss Rs.167-179
Indiabulls Real Estate Limited@510-515 for a target 550/600 sl 495
RPL buy@159-160 Target 161.5/167 SL 157.5
RPOWER@321-323 target 324.5/330/334
RNRL@103 Target 105/108/110
FCH@490 target 500/520
Petronet LNG Limited@69-70 target 71.5/74/76
other hot stocks BAJAJAUTO, CESC, INGERRAND, HAVELLS, ICI, KALPATPOWR,
SIMPLEX, RELGOLD, GRUH, TECHNOELEC, ARIHANT, PRAENG,
DYNAMATECH, ALPHAGEO, ADSL, CHETTINAD, KOTHARIPRO.
Stocks Rebound From Steep Drop As S&P Forecasts End Is Near for Asset Write-Downs
The S&P projection gave investors some hope that the seemingly unrelenting losses from the mortage and credit crisis might indeed be bottoming out. Standard & Poor's Ratings Services said it estimates writedowns of subprime asset-backed securities could reach $285 billion globally, up from its previous projection of $265 billion, but added that "the end of write-downs is now in sight for large financial institutions."
Wall Street clearly remains anxious, however. On Tuesday, the stock market launched its largest rally in more than five years after the Federal Reserve said it would auction $200 billion in Treasurys to help alleviate investment banks' financial bind. But since then, stocks have been extremely volatile
The S&P's note arrived on the heels of a spate of troubling news. A Carlyle Group fund warned late Wednesday it expects creditors will seize all the fund's remaining assets after unsuccessful negotiations to prevent its liquidation. Meanwhile, the government reported Thursday an unexpected dip in retail sales, and a research firm said nearly 60 percent more U.S. homes faced foreclosure in February than in the same month last year.
The Dow Jones industrial average finished up 35.50, or 0.29 percent, at 12,145.74, after being down more than 220 points early in the session and then popping up more than 100.
Wall Street clearly remains anxious, however. On Tuesday, the stock market launched its largest rally in more than five years after the Federal Reserve said it would auction $200 billion in Treasurys to help alleviate investment banks' financial bind. But since then, stocks have been extremely volatile
The S&P's note arrived on the heels of a spate of troubling news. A Carlyle Group fund warned late Wednesday it expects creditors will seize all the fund's remaining assets after unsuccessful negotiations to prevent its liquidation. Meanwhile, the government reported Thursday an unexpected dip in retail sales, and a research firm said nearly 60 percent more U.S. homes faced foreclosure in February than in the same month last year.
The Dow Jones industrial average finished up 35.50, or 0.29 percent, at 12,145.74, after being down more than 220 points early in the session and then popping up more than 100.
Global Market Positive- +ve open expected from Indian Maket
After the bad crash yesterday, we could see some short covering today. Also Global market giving support to it. All US and Asian markets in Green. US markets opened in RED but rise after S&P Report.
Both Nifty and BSE will open gap up atleast by 1%.
But worst is not over yet. Market not bottomed up, so be cautious and trade with strict SL. Dont go for fresh long positions now. But keep the existing positions. U can use further downs to average long positions
US closing
Dow 12,145.74 +35.50 +0.29%
Nasdaq 2,263.61 +19.74 +0.88%
S&P 500 1,315.48 +6.71 +0.51%
Asian market at 8.35 AM IST
Nikkei 225 12,497.63 +64.19 +0.52%
Hang Seng 22,550.14 +248.50 +1.11%
Straits Times 2,846.38 +40.83 +1.46%
Both Nifty and BSE will open gap up atleast by 1%.
But worst is not over yet. Market not bottomed up, so be cautious and trade with strict SL. Dont go for fresh long positions now. But keep the existing positions. U can use further downs to average long positions
US closing
Dow 12,145.74 +35.50 +0.29%
Nasdaq 2,263.61 +19.74 +0.88%
S&P 500 1,315.48 +6.71 +0.51%
Asian market at 8.35 AM IST
Nikkei 225 12,497.63 +64.19 +0.52%
Hang Seng 22,550.14 +248.50 +1.11%
Straits Times 2,846.38 +40.83 +1.46%
Further bad news for market - US retail sales report- gold hits high
Wall Street Heads for Sharply Lower Opening on Global Worries About Health of US Economy
Ahead of the opening in the U.S., Dow futures were down 145 points, or 1.2 percent, at 11,979, while Standard & Poor's 500 futures were down 21.30, or 1.63 percent, at 1,288.10 and Nasdaq 100 futures fell 20.00, or 1.15 percent, to 1,714.75.
The government said retail sales fell by a worse-than-expected 0.6 percent in February, rather than showing the 0.2 percent gain Wall Street had expected
The spike in gold prices -- hitting $1,000 an ounce for the first time in electronic trading Thursday, according to Dow Jones Newswires -- underscores investors' nervousness as investing in the precious metal is often regarded as a defensive move. Gold prices recently changed hands up $15.60 at $996.10 an ounce.
Meanwhile Thursday, the dollar hit a 12-year low against the Japanese yen and also fell to another new low against the euro, which rose to $1.56 for the first time. And oil prices, whose relentless ascent have fed inflation worries, continued to rise.
The dollar's slide is of particular concern because it is helping to send commodities prices including oil to greater highs -- in turn feeding the growth of inflation
A pullback among consumers worried about jobs, falling home prices or rising energy costs could hasten the economy's slowdown.
Ahead of the opening in the U.S., Dow futures were down 145 points, or 1.2 percent, at 11,979, while Standard & Poor's 500 futures were down 21.30, or 1.63 percent, at 1,288.10 and Nasdaq 100 futures fell 20.00, or 1.15 percent, to 1,714.75.
The government said retail sales fell by a worse-than-expected 0.6 percent in February, rather than showing the 0.2 percent gain Wall Street had expected
The spike in gold prices -- hitting $1,000 an ounce for the first time in electronic trading Thursday, according to Dow Jones Newswires -- underscores investors' nervousness as investing in the precious metal is often regarded as a defensive move. Gold prices recently changed hands up $15.60 at $996.10 an ounce.
Meanwhile Thursday, the dollar hit a 12-year low against the Japanese yen and also fell to another new low against the euro, which rose to $1.56 for the first time. And oil prices, whose relentless ascent have fed inflation worries, continued to rise.
The dollar's slide is of particular concern because it is helping to send commodities prices including oil to greater highs -- in turn feeding the growth of inflation
A pullback among consumers worried about jobs, falling home prices or rising energy costs could hasten the economy's slowdown.
Post Market report 13.03.2008
Sensex tumbles to six month low
A major setback was witnessed on the bourses as share prices fell
almost across the board. Markets across the globe dropped amid
concerns about the effectiveness of the Federal Reserve's efforts
to aid strained credit markets.
28 shares among the 30-member Sensex pack finished with losses. The
market breadth was extremely weak. Turnover was dull. Stocks from
real estate, metal and capital goods sector were worst hit.
The 30-share BSE Sensex slumped 770.63 points or 4.78% at
15,357.35. Sensex hit a low of 15,228.99 in late trade, its lowest
level since early September 2007. At the day's low, the Sensex lost
898.99 points.
At current 15,357.35, Sensex trades at a PE multiple of 14.62 to
15.35, based on projected FY 2009 EPS of Rs 1000-to-Rs 1050 for 30
Sensex companies.
The broader based S&P CNX Nifty was down 242.40 points or 5.10% at
4,623.60. Nifty March 2008 futures were at 4,609 a discount of
14.60 points as compared to spot closing.
European markets were weak. Key benchmark indices in United Kingdom
(down 2.12% to 5,654), Germany (down 2.55% to 6,431.88), and France
(down 2.31% to 4,588.44), slipped
Asian markets settled on a weak note today, 13 March 2008. Japan's
Nikkei (down 3.33% at 12,433.34), Hong Kong's Hang Seng (down 4.79%
at 22,301.46), Taiwan's Taiwan Weighted (down 2.66% at 8,210.99),
China's Shanghai Composite (down 2.43% to 3,971.27), Straits Times
(down 3.85% at 2,805.55) and South Korea's Seoul Composite (down
2.60% at 1,615.92), edged lower.
Back home, the market breadth was weak on BSE with 2,331 shares
declining as compared to 359 that advanced. 43 shares remained
unchanged.
The BSE Mid-Cap index was down 5.53% to 6,527.67 while the BSE
Small-Cap index slipped 5.35% to 8,075.18. Both these indices
underperformed the Sensex
The total turnover amounted to Rs 5952 crore lower than yesterday's
turnover of Rs 7,215.42 crore on BSE.
Turnover on NSE's futures & options segment amounted to Rs 44869.49
crore which was slightly higher as compared to yesterday's turnover
of Rs 44632.78 crore
All sectoral indices on BSE suffered losses. The BSE Consumer
Durables index (down 7.83% to 3,872.64), the BSE Power (down 6.28%
to 3,063.99), the BSE TecK index (down 4.92% to 2,875.51), the BSE
PSU index (down 5.90% to 7,392.12), the BSE Metal index (down 8.38%
to 14,373.96), the BSE Capital Goods index (down 5.62% at
13,309.34), he BSE Realty index (down 11.59% at 7,362.42), the BSE
Oil & Gas index (down 5.83% to 10,021.97), and the BSE Bankex (down
5.59% at 8,076.80), underperformed the Sensex.
The BSE FMCG index (down 1.95% at 2,138.63), the BSE IT index (down
4.62% to 3,311.91), the BSE Auto (down 2.45% at 4,535.65), the BSE
Health Care index (down 2.69% at 3,772.23), outperformed the
Sensex.
Real estate shares were hammered brutally. India's largest real
estate developer by market capitalisation DLF slipped 13.29% to Rs
618. It was the top loser from Sensex pack. As per reports, the
firm may delay a planned initial public offering to raise $1.5
billion from a real estate investment trust in Singapore.
Unitech (down 9.62% to Rs 266.20), Parsvnath Developers (down 8.45%
to Rs 207), Indiabulls Real Estate (down 10.23% to Rs 510), were
the other losers from real estate sector
India's largest private sector company in terms of market
capitalisation and oil refiner Reliance Industries slumped 5.23% to
Rs 2252 on 12.49 lakh shares. The stock moved in a range of Rs 2201
and Rs 2355 during the day
Metal shares slumped on profit booking. Hindalco Industries (down
9.72% to Rs 173.15), Tata Steel (down 9.06% to Rs 697), Steel
Authority of India (down 11.64% to Rs 192.80), and JSW Steel (down
5.44% to Rs 888.25), slipped
IT pivotals slumped on concerns of a US recession. TCS (down 7.25%
to Rs 765), Satyam Computers (down 5.10% to Rs 359.90), Wipro (down
6.75% to Rs 363.55), and Infosys (down 4.63% to Rs 1320), edged
lower. Indian IT firms derive more than half of their revenue from
exports to US.
Banking shares slipped on selling pressure. India's largest private
sector bank in terms of net profit ICICI Bank slipped 5.67% to Rs
830 tracking weak ADR which declined 5% on the NYSE yesterday, 12
March 2008. State Bank of India (down 6.80% to Rs 1685), and HDFC
Bank (down 4.37% to Rs 1308), also slipped.
Reliance Energy (down 10.95% to Rs 1183), Reliance Communications
(down 7.82% to Rs 497.50), and Bharat Heavy Electricals (down 6.52%
to Rs 1885), slipped from Sensex pack.
Bajaj Auto, the country's second largest two wheeler maker in terms
of sales, gained 1.49% to Rs 2124 in volatile trade. The stock
moved in a wild range of Rs 1976.05 and Rs 2175. All existing
futures & options contracts on the counter expired today and new
contracts will be introduced on, 14 March 2008, as a demerger
scheme takes effect from tomorrow, 14 March 2008.
As per the demerger scheme, the company's various businesses
including auto manufacturing and other strategic businesses such as
wind energy, insurance and financial services, would be demerged
into two newly incorporated subsidiaries: Bajaj Holdings and
Investment (BHIL) and Bajaj Finserv (BFL).
Hindustan Unilever, the country's largest FMCG company in terms of
sales, rose 0.20% to Rs 222.20
Shares of oil marketing companies declined despite reports that the
government has issued a formal notification to raise the foreign
direct investment (FDI) limit in public sector refineries to 49%.
Hindustan Petroleum Corporation (down 2.17% to Rs 270), Bharat
Petroleum Corporation (down 4.81% to Rs 408) and Indian Oil
Corporation (down 4.49% to Rs 480.90). The Indian crude basket had
crossed $100 a barrel mark for the first time on Monday, 10 March
2008.
Among liquid mid-cap stocks, Indiabulls Financial Services (down
15.10% to Rs 467.10), Nagarjuna Fertilizers & Chemicals (down
13.18% to Rs 36.90), Educomp Solutions (down 10.45% to Rs
3,275.30), Reliance Natural Resources (down 11.80% to Rs 103.25),
Cairn India (down 11.55% to Rs 218.90), Power Grid Corporation of
India (down 12.89% to Rs 90.25) and Reliance Capital (down 13.26%
to Rs 1250) slumped.
Hero Honda Motors (up 1.3% to Rs 737.50), Jet Airways (up 0.59% to
Rs 630.60), Exide Industries (up 0.52% to Rs 66), and CESC (up
0.16% to Rs 467.25) were the gainers
Among the side counters, Nahar Capital (down 20% to Rs 96.85),
Hester Pharma (down 16.91% to Rs 125.50), Indo Borax (down 16.76%
to Rs 64.05), Satra Properties (down 15.65% to Rs 72), and RS
Software (down 15.23% to Rs 21.70), slumped.
However English Indian Clays (up 20% to Rs 1449.40), Compuage
Infocomm (up 10% to Rs 39.05), Foods & Inns (up 7.14% to Rs 300),
surged.
V-Guard Industries settled at Rs 73.45 on BSE, a discount of 10.42%
over the IPO price of Rs 82. It debuted at Rs 82.15, a premium of
0.18% over the IPO price. The stock hit a high of Rs 98.90 and a
low of Rs 70.70. On BSE, 1.90 crore shares were traded in the
scrip.
Reliance Industries was the top traded counter on BSE with turnover
of Rs 282.97 crore followed by Reliance Natural Resources (Rs
277.39 crore), Housing Development & Infrastructure (Rs 275.55
crore), Reliance Petroleum (Rs 204.45 crore) and Rural
Electrification Corporation (Rs 196.30 crore) in that order.
Reliance Natural Resources led the volumes charts clocking volume
of 2.59 crore shares followed by V Guard Industries (1.90 crore
shares), Rural Electrification Corporation (1.70 crore shares),
Ispat Industries (1.42 crore shares) and Reliance Petroleum (1.29
crore shares) in that order.
Sesa Goa declined 9.87% to Rs 3240 even after the Reserve Bank of
India raised foreign institutional investment ceiling in the stock
to 45% of its equity.
Alok Industries declined 7.75% to Rs 58 after the company said on
Wednesday, 12 March 2008, its unit Alok Infrastructure has taken a
50% stake in Ashford Infotech for joint development of realty
projects.
Hindustan Zinc slipped 2.23% to Rs 575 after the company said it
has cut zinc prices by 6.5% and lead prices by 7.7%, with immediate
effect.
Everonn Systems India declined 10% to Rs 621.65 on reports the
company plans to raise $50 million to fund expansion
Emco rose 1.30% to Rs 1085 after the company bagged an order worth
Rs 92 crore from Corporate Power, Ranchi, Jharkhand for 400
kilovolt double circuit/double strung transmission line on turnkey
basis.
The next trigger for the market would come from the figures of
advance tax payment by corporates for the fourth installment, which
falls due on 15 March 2008.
Another major trigger for the market is outcome of the US Federal
Reserve meeting on 18 March 2008 to review interest rates. A cut in
interest rate, as expected by the street may provide some support
to the markets. Fed Chairman Ben Bernanke had signaled a readiness
to cut interest rates again to prevent further damage to the weak
US economy, even as he took note of rising inflation risks.
US markets slipped on Wednesday, 12 March 2008, on concerns that
the US Federal Reserve will fail to prevent a recession and global
crude oil prices surged above $110 a barrel raising fears of
further strain on corporate profits.
The Dow Jones industrial average was down 46.57 points, or 0.38%,
to 12,110.24. The Standard & Poor's 500 index plunged 11.88 points,
or 0.90%, to 1,308.77, and the Nasdaq Composite index declined
11.89 points, or 0.53%, to 2,243.87.
A major setback was witnessed on the bourses as share prices fell
almost across the board. Markets across the globe dropped amid
concerns about the effectiveness of the Federal Reserve's efforts
to aid strained credit markets.
28 shares among the 30-member Sensex pack finished with losses. The
market breadth was extremely weak. Turnover was dull. Stocks from
real estate, metal and capital goods sector were worst hit.
The 30-share BSE Sensex slumped 770.63 points or 4.78% at
15,357.35. Sensex hit a low of 15,228.99 in late trade, its lowest
level since early September 2007. At the day's low, the Sensex lost
898.99 points.
At current 15,357.35, Sensex trades at a PE multiple of 14.62 to
15.35, based on projected FY 2009 EPS of Rs 1000-to-Rs 1050 for 30
Sensex companies.
The broader based S&P CNX Nifty was down 242.40 points or 5.10% at
4,623.60. Nifty March 2008 futures were at 4,609 a discount of
14.60 points as compared to spot closing.
European markets were weak. Key benchmark indices in United Kingdom
(down 2.12% to 5,654), Germany (down 2.55% to 6,431.88), and France
(down 2.31% to 4,588.44), slipped
Asian markets settled on a weak note today, 13 March 2008. Japan's
Nikkei (down 3.33% at 12,433.34), Hong Kong's Hang Seng (down 4.79%
at 22,301.46), Taiwan's Taiwan Weighted (down 2.66% at 8,210.99),
China's Shanghai Composite (down 2.43% to 3,971.27), Straits Times
(down 3.85% at 2,805.55) and South Korea's Seoul Composite (down
2.60% at 1,615.92), edged lower.
Back home, the market breadth was weak on BSE with 2,331 shares
declining as compared to 359 that advanced. 43 shares remained
unchanged.
The BSE Mid-Cap index was down 5.53% to 6,527.67 while the BSE
Small-Cap index slipped 5.35% to 8,075.18. Both these indices
underperformed the Sensex
The total turnover amounted to Rs 5952 crore lower than yesterday's
turnover of Rs 7,215.42 crore on BSE.
Turnover on NSE's futures & options segment amounted to Rs 44869.49
crore which was slightly higher as compared to yesterday's turnover
of Rs 44632.78 crore
All sectoral indices on BSE suffered losses. The BSE Consumer
Durables index (down 7.83% to 3,872.64), the BSE Power (down 6.28%
to 3,063.99), the BSE TecK index (down 4.92% to 2,875.51), the BSE
PSU index (down 5.90% to 7,392.12), the BSE Metal index (down 8.38%
to 14,373.96), the BSE Capital Goods index (down 5.62% at
13,309.34), he BSE Realty index (down 11.59% at 7,362.42), the BSE
Oil & Gas index (down 5.83% to 10,021.97), and the BSE Bankex (down
5.59% at 8,076.80), underperformed the Sensex.
The BSE FMCG index (down 1.95% at 2,138.63), the BSE IT index (down
4.62% to 3,311.91), the BSE Auto (down 2.45% at 4,535.65), the BSE
Health Care index (down 2.69% at 3,772.23), outperformed the
Sensex.
Real estate shares were hammered brutally. India's largest real
estate developer by market capitalisation DLF slipped 13.29% to Rs
618. It was the top loser from Sensex pack. As per reports, the
firm may delay a planned initial public offering to raise $1.5
billion from a real estate investment trust in Singapore.
Unitech (down 9.62% to Rs 266.20), Parsvnath Developers (down 8.45%
to Rs 207), Indiabulls Real Estate (down 10.23% to Rs 510), were
the other losers from real estate sector
India's largest private sector company in terms of market
capitalisation and oil refiner Reliance Industries slumped 5.23% to
Rs 2252 on 12.49 lakh shares. The stock moved in a range of Rs 2201
and Rs 2355 during the day
Metal shares slumped on profit booking. Hindalco Industries (down
9.72% to Rs 173.15), Tata Steel (down 9.06% to Rs 697), Steel
Authority of India (down 11.64% to Rs 192.80), and JSW Steel (down
5.44% to Rs 888.25), slipped
IT pivotals slumped on concerns of a US recession. TCS (down 7.25%
to Rs 765), Satyam Computers (down 5.10% to Rs 359.90), Wipro (down
6.75% to Rs 363.55), and Infosys (down 4.63% to Rs 1320), edged
lower. Indian IT firms derive more than half of their revenue from
exports to US.
Banking shares slipped on selling pressure. India's largest private
sector bank in terms of net profit ICICI Bank slipped 5.67% to Rs
830 tracking weak ADR which declined 5% on the NYSE yesterday, 12
March 2008. State Bank of India (down 6.80% to Rs 1685), and HDFC
Bank (down 4.37% to Rs 1308), also slipped.
Reliance Energy (down 10.95% to Rs 1183), Reliance Communications
(down 7.82% to Rs 497.50), and Bharat Heavy Electricals (down 6.52%
to Rs 1885), slipped from Sensex pack.
Bajaj Auto, the country's second largest two wheeler maker in terms
of sales, gained 1.49% to Rs 2124 in volatile trade. The stock
moved in a wild range of Rs 1976.05 and Rs 2175. All existing
futures & options contracts on the counter expired today and new
contracts will be introduced on, 14 March 2008, as a demerger
scheme takes effect from tomorrow, 14 March 2008.
As per the demerger scheme, the company's various businesses
including auto manufacturing and other strategic businesses such as
wind energy, insurance and financial services, would be demerged
into two newly incorporated subsidiaries: Bajaj Holdings and
Investment (BHIL) and Bajaj Finserv (BFL).
Hindustan Unilever, the country's largest FMCG company in terms of
sales, rose 0.20% to Rs 222.20
Shares of oil marketing companies declined despite reports that the
government has issued a formal notification to raise the foreign
direct investment (FDI) limit in public sector refineries to 49%.
Hindustan Petroleum Corporation (down 2.17% to Rs 270), Bharat
Petroleum Corporation (down 4.81% to Rs 408) and Indian Oil
Corporation (down 4.49% to Rs 480.90). The Indian crude basket had
crossed $100 a barrel mark for the first time on Monday, 10 March
2008.
Among liquid mid-cap stocks, Indiabulls Financial Services (down
15.10% to Rs 467.10), Nagarjuna Fertilizers & Chemicals (down
13.18% to Rs 36.90), Educomp Solutions (down 10.45% to Rs
3,275.30), Reliance Natural Resources (down 11.80% to Rs 103.25),
Cairn India (down 11.55% to Rs 218.90), Power Grid Corporation of
India (down 12.89% to Rs 90.25) and Reliance Capital (down 13.26%
to Rs 1250) slumped.
Hero Honda Motors (up 1.3% to Rs 737.50), Jet Airways (up 0.59% to
Rs 630.60), Exide Industries (up 0.52% to Rs 66), and CESC (up
0.16% to Rs 467.25) were the gainers
Among the side counters, Nahar Capital (down 20% to Rs 96.85),
Hester Pharma (down 16.91% to Rs 125.50), Indo Borax (down 16.76%
to Rs 64.05), Satra Properties (down 15.65% to Rs 72), and RS
Software (down 15.23% to Rs 21.70), slumped.
However English Indian Clays (up 20% to Rs 1449.40), Compuage
Infocomm (up 10% to Rs 39.05), Foods & Inns (up 7.14% to Rs 300),
surged.
V-Guard Industries settled at Rs 73.45 on BSE, a discount of 10.42%
over the IPO price of Rs 82. It debuted at Rs 82.15, a premium of
0.18% over the IPO price. The stock hit a high of Rs 98.90 and a
low of Rs 70.70. On BSE, 1.90 crore shares were traded in the
scrip.
Reliance Industries was the top traded counter on BSE with turnover
of Rs 282.97 crore followed by Reliance Natural Resources (Rs
277.39 crore), Housing Development & Infrastructure (Rs 275.55
crore), Reliance Petroleum (Rs 204.45 crore) and Rural
Electrification Corporation (Rs 196.30 crore) in that order.
Reliance Natural Resources led the volumes charts clocking volume
of 2.59 crore shares followed by V Guard Industries (1.90 crore
shares), Rural Electrification Corporation (1.70 crore shares),
Ispat Industries (1.42 crore shares) and Reliance Petroleum (1.29
crore shares) in that order.
Sesa Goa declined 9.87% to Rs 3240 even after the Reserve Bank of
India raised foreign institutional investment ceiling in the stock
to 45% of its equity.
Alok Industries declined 7.75% to Rs 58 after the company said on
Wednesday, 12 March 2008, its unit Alok Infrastructure has taken a
50% stake in Ashford Infotech for joint development of realty
projects.
Hindustan Zinc slipped 2.23% to Rs 575 after the company said it
has cut zinc prices by 6.5% and lead prices by 7.7%, with immediate
effect.
Everonn Systems India declined 10% to Rs 621.65 on reports the
company plans to raise $50 million to fund expansion
Emco rose 1.30% to Rs 1085 after the company bagged an order worth
Rs 92 crore from Corporate Power, Ranchi, Jharkhand for 400
kilovolt double circuit/double strung transmission line on turnkey
basis.
The next trigger for the market would come from the figures of
advance tax payment by corporates for the fourth installment, which
falls due on 15 March 2008.
Another major trigger for the market is outcome of the US Federal
Reserve meeting on 18 March 2008 to review interest rates. A cut in
interest rate, as expected by the street may provide some support
to the markets. Fed Chairman Ben Bernanke had signaled a readiness
to cut interest rates again to prevent further damage to the weak
US economy, even as he took note of rising inflation risks.
US markets slipped on Wednesday, 12 March 2008, on concerns that
the US Federal Reserve will fail to prevent a recession and global
crude oil prices surged above $110 a barrel raising fears of
further strain on corporate profits.
The Dow Jones industrial average was down 46.57 points, or 0.38%,
to 12,110.24. The Standard & Poor's 500 index plunged 11.88 points,
or 0.90%, to 1,308.77, and the Nasdaq Composite index declined
11.89 points, or 0.53%, to 2,243.87.
13th Stock calls status
Sell RPOWER - target 340/332/325 opens 315.00 surges to 337.40 and again back comes down closes 321.60
Sell RNRL - Target 115/112/109 Opens 113.90 goes down to 102.20 and closes 103.75
Sell ICICI - Target 868/852/835 open 859.90 goes up to 866.00 then comes down to 817.00 ends 837.55
Sell Shobha - target 675/660/640 open 689.10 goes down to 650.00 close at 671.60
Sell Unitech - Target 280/275/260 opens 287.00 goes up to 289.80 then comes down to 263.10 and closes 265.85
Sell FCH - Target 515/509 opens 508.10 goes up to 513.10 and then down to 485.00 and ends at 490.75
Sell RNRL - Target 115/112/109 Opens 113.90 goes down to 102.20 and closes 103.75
Sell ICICI - Target 868/852/835 open 859.90 goes up to 866.00 then comes down to 817.00 ends 837.55
Sell Shobha - target 675/660/640 open 689.10 goes down to 650.00 close at 671.60
Sell Unitech - Target 280/275/260 opens 287.00 goes up to 289.80 then comes down to 263.10 and closes 265.85
Sell FCH - Target 515/509 opens 508.10 goes up to 513.10 and then down to 485.00 and ends at 490.75
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