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WEEK:30-08 To 03-09

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MONTH : AUG - 10

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02-09-2010: Sensex ekes out slim gains...Small-Caps rally….   Sensex gained 32 points to close at 18,238, while, NSE Nifty added 14 points to close at 5,486.

 

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03-09-2010

 

15.05: Some minutes from close, the market is very flat and hovering between the green and red territory. Sensex is trading at 18240, up 2 points from its previous close, and Nifty is at 5486, up 1 point. CNX Midcap index is up 0.8% and Bse Smallcap index is up 1%. The market breadth is positive with advances at 807 against declines of 458 on the NSE

 

14.20: At 14:14 hours IST - the benchmark Sensex was quiet in trade due to lack of global cues. It was consolidating around previous closing value since the beginning of trade on Friday.  The Nifty has been making attempts to hold 5500 mark again and again. Even European markets and US index futures were flat in trade. The Sensex was trading at 18249, up 11 points and the Nifty was at 5485, down 0.3 point. However, the broader indices were strong; the BSE Midcap and Smallcap indices gained 0.9-1%.

 

13.15: At 13.08 hrs IST, the Nifty was trading flat. It was a quiet session for the markets as largecaps failed to gain momentum on the either side ahead of weekend. European markets too opened in green with marginal gains. The Sensex was down 7.46 points or 0.04% at 18230.85, and the Nifty was down 10.20 points or 0.19% at 5475.95. About 1766 shares advanced, 1236 shares declined, and 382 shares remain unchanged. Buying was seen in realty, auto, telecom and pharma stocks. Metal, oil&gas and banking stocks witnessed some selling pressure.

 

13.00: The key Indian indices have turned rangebound and choppy in early afternoon trade, swinging between positive and negative territories, but the broader market continues to outpace the large cap stocks. The NSE Nifty has yet again failed to sustain above 5500 after reclaiming that milestone in the middle of the week as global uncertainties and concerns about high valuations keep investors at bay. But, the story is different as far as the broader market is concerned. The Small-Cap and Mid-Cap shares are witnessing good amount of buying even as investors shy away from their frontline peers. The Indian market did open higher but the key indices are failed to build on the initial gains amid a murky outlook for the global economy. Sentiment is also cautious ahead of today's non-farm payroll data from the US. Asian markets closed mixed with the Nikkei in Japan rising marginally while the Shanghai Composite in China finished in red. The Hang Seng in Hong Kong is trading slightly higher. European markets have opened higher after finishing nearly unchanged yesterday. US stocks managed to notch up modest gains. At 12:56 PM (IST), the BSE Sensex was trading at 18,209 down 24 points over the previous close. It had earlier been as high as 18,316 and as low as 18,221 after opening at 18, 238.

 

12.05: At noon, the market continues to trade flat but the indices have moved back into the green. Sensex is trading at 18251, up 13 points from its previous close, and Nifty is at 5487, up 1 point. CNX Midcap index is up 0.8% and BSE Smallcap index is up 0.9%. The market breadth is positive with advances at 861 against declines of 407 on the NSE.  

 

11.50: At 11:47 hours IST - the 50-share NSE Nifty was trading in a narrow range of 5480-5500 since early trade. It has consistently been trying to get above 5500 mark. Realty and healthcare companies' shares along with ONGC, Infosys, Hero Honda, Bharti Airtel, M&M, NTPC, HUL and HDFC were helping the markets. The Sensex was trading at 18246, up 8 points and the Nifty was at 5486, up 0.20 point. The broader indices were outperforming benchmarks; were up 0.8% each. About 847 shares advanced while 416 shares declined on NSE.

 

10.30: At 10:26 hours IST - the benchmark Sensex was hovering around previous closing value and was trying to stay in a positive terrain. Even Asian markets were mixed in trade as they were eyeing US non-farm payrolls data today. The Sensex was trading at 18256, up 18 points and the Nifty was at 5487, up 1.4 points. The broader indices continued to outperform benchmarks; the BSE Midcap and Smallcap indices gained 0.8% each.

 

09.10: The benchmark Nifty started the day on a flat note with a positive bias following US cues, which went up 0.5-1% ahead of jobless data today. The Index has been facing resistance at 5500 level. Among the frontliners, Unitech, Hero Honda, Infosys, Sterlite Industries, TCS, Tata Motors, Bharti Airtel, SAIL, ONGC, Tata Steel, M&M and Cipla were witnessing buying interest. At 9:01 hours IST, the Sensex was trading at 18291, up 53 points and the Nifty was at 5495, up 10 points. The CNX Midcap rose 0.43% at 8899; about 928 shares advanced while 213 shares declined on NSE.


Opening Bell: Nifty (Spot) Support for the day exists at 5440-5410 and Resistance to the up-move is at around 5510-5560. Global cues eyed. Range-bound market with un-certainty & volatility. Trade with due care & Stay cautious.

 

Nifty 5510 to 5560 levels still remain a little bit of a hurdle to climb over. It may not be very easy. So, in this backdrop, to predict the market running away making fresh intermediate highs serially is a little bit of a challenge. We think rein in optimism a little bit in this 5500-5550 kind of zone.

 

 

P.M.S. Members

 

 LOGO1

 


- India's food and fuel inflation 
   edges higher

   Sep 03, 2010 at 12:00


- ECB keeps key lending rate 
   unchanged

   Sep 02, 2010 at 17:55


- Monsoon was 16% above 
   normal in week to Sept. 1: IMD

   Sep 02, 2010 at 13.00

 

- Brazil's central bank holds rate
   steady

   Sep 02, 2010 at 10:15


- Govt to restate Q1 GDP data at 
   market prices

   Sep 01, 2010 at 18:00

 

- India's manufacturing growth
   softens in August

   Sep 01, 2010 at 17:55

 

- Manufacturing activity slows in
   UK, euro-zone

   Sep 01, 2010 at 17:50


- India's exports up 13%: report

   Sep 01, 2010 at 12:05

 

- Auto sales climbs in August

   Sep 01, 2010 at 11:15


- Eurozone inflation eases but
   unemployment stays high

   Aug 31, 2010 at 14:45


- India's economy grows by 
   8.8% in Q1

   Aug 31, 2010 at 11:05

 

- India and Switzerland sign
   Double Taxation Avoidance
   pact

   Aug 31, 2010 at 09:00


- DTC bill tabled in parliament

   Aug 30, 2010 at 15:10


- BOJ keeps rates 
   steady...extends lending
   program

   Aug 30, 2010 at 11:45


- Fed will fight deflation: Ben 
   Bernanke

   Aug 27, 2010 at 19:55


- UK economy grows faster than 
   initial forecast

   Aug 27, 2010 at 15:15


- Japan's unemployment down, 
   but deflation deepens

   Aug 27, 2010 at 11:55

 

- US jobless claims drop for first
   time in 4 weeks

   Aug 27, 2010 at 10:30


- Cabinet clears Direct Taxes 
   Code Bill: report

   Aug 26, 2010 at 19:30


- Food inflation falls, fuel 
   inflation steady

   Aug 26, 2010 at 11:55


- New home sales in US fall to 
   record low

   Aug 26, 2010 at 08:20


- Japan's exports grow 23.5%
   in July

   Aug 25, 2010 at 09:45

 

- S&P downgrades Ireland's
   ratings

   Aug 25, 2010 at 09:10

- Germany confirms record Q2 
  GDP growth

   Aug 24, 2010 at 13:45


- Govt extends export sops as 
  global recovery slows

   Aug 23, 2010 at 14:10

 

- India's April-June exports up 
  32% yoy: Anand Sharma

   Aug 23, 2010 at 14:05


- Thailand economy expands 
   more than forecast

   Aug 23, 2010 at 11:15


- Cabinet approves MP salary 
   hike

   Aug 20, 2010 at 13:50


- Govt imposes export duty on 
   raw cotton

   Aug 20, 2010 at 09:35


- India’s food inflation at 
   10.35%

   Aug 19, 2010 at 12:50


- India's exports up 13% at 
   US$16.24bn: Commerce Secy

   Aug 17, 2010 at 12:45


- Inflation falls below 10%...hits 
   six-month low

   Aug 16, 2010 at 12:45


- China surpasses Japan as No.2 
   economy

   Aug 16, 2010 at 10:40


- Germany's Q2 GDP grows
   2.2% QoQ

   Aug 13, 2010 at 11:45

 

- Indirect tax collections rise 
   46% during April-July

   Aug 13, 2010 at 11:15


- Food inflation rises, Fuel 
   inflation down

   Aug 12, 2010 at 12:40

 

- India's industrial output 
   growth tumbles in June

   Aug 12, 2010 at 11:05


- Fed leaves rates steady

   Aug 11, 2010 at 07:40

 

- Bank of Japan leaves key rate 
   unchanged

   Aug 10, 2010 at 16:30


- China's July exports jump 
   38.1% yoy

   Aug 10, 2010 at 09:10

 

- Bank of Japan leaves key rate 
  unchanged

   Aug 10, 2010 at 09:05


- India's car sales up 38% in 
   July

   Aug 09, 2010 at 10:20


- US economy loses 131,000 
   jobs in July

   Aug 06, 2010 at 19:45


- Bank of England leaves key 
   rate steady

   Aug 05, 2010 at 17:55

 

- ECB leaves key rates 
   unchanged

   Aug 05, 2010 at 17:50


- Food inflation falls for second 
   straight week

   Aug 05, 2010 at 12:00


- India's service sector PMI 
   slows in July: survey

   Aug 04, 2010 at 12:15


- China's service sector growth 
   at three-month high

   Aug 04, 2010 at 10:45


- Australian central bank keeps 
   rates unchanged

   Aug 03, 2010 at 10:30


- Lok Sabha clears ULIP Bill

   Aug 02, 2010 at 18:05

 

- India's June exports up 30.4% 
   yoy

   Aug 02, 2010 at 18:00


- India's manufacturing PMI 
   rises in July

   Aug 02, 2010 at 10:55

 

- US earnings...75% S&P 500 
  Cos beat estimates

   Aug 02, 2010 at 10:30


- China overtakes Japan as 
   world's No. 2 economy

   Jul 30, 2010 at 21:20

 

- US economic growth slows in 
   second quarter

   Jul 30, 2010 at 21:10


- Fed's Bullard says US may
   face deflation

   Jul 30, 2010 at 10:50


- Food inflation slides...falls 
  below 10%

   Jul 29, 2010 at 11:50


- RIL Q1 net profit up 32%

   Jul 27, 2010 at 19:00


- RBI hikes rates

   Jul 27, 2010 at 11:35


- South Korea's economy slows 
   in Q2

   Jul 26, 2010 at 10:45

 

- Japan's exports up 27.7% yoy

   Jul 26, 2010 at 10:10


- Seven banks fail Europe's
   test, need 3.5 billion euros

   Jul 23, 2010 at 22:10


- UK economy grows more than 
   forecast

   Jul 23, 2010 : 14:25

 

- Moody's says it may
  downgrade Hungary's rating

   Jul 23, 2010 at 13:25


- US existing home sales fall 
   5.1%

   Jul 23, 2010 at 11:05


- Food inflation lower, non-food 
   inflation spikes

   Jul 22, 2010 at 12.05


- GST...Centre agrees to dual 
   rate structure for goods

   Jul 21, 2010 at 18:00


- Govt non-committal on 
   decontrol of diesel prices

   Jul 21, 2010 at 10:15


- Exports grow 30.4% in June: 
   Commerce Secretary

   Jul 20, 2010 at 14:20


- India's June exports up 30% 
   yoy

   Jul 19, 2010 at 18:00


- Moody's downgrades Ireland 
   ratings

   Jul 19, 2010 at 12:05


- SEBI revamps takeover code; 
   hikes open offer limit

   Jul 19, 2010 at 10:45


- Railway's commodity-wise 
   freight revenue up 8% yoy

   Jul 16, 2010 at 12.40

 

 HAPPY INVESTING & TRADING..

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All rates are NSE based

 

 

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HEADLINES / HIGHLIGHTS 

HOT - STOCKS

GLOBAL MARKET 

Ashok Leyland shares hit year high after robust Aug sales

PTI 3 Sep 2010, 11:07

Ashok Leyland, the Hinduja Group flagship company, surged over 2 per cent on Friday to hit a year high on BSE in early trade.

 

Reliance Cap fund buys 8.7 pc in Trent 
REUTERS 3 Sep 2010, 10:38

Retail company Trent, controlled by the diversified Tata Group, said on Friday that Reliance Capital Asset Management, part of the Anil Dhirubhai Ambani group, had acquired 8.68 percent in the company.

 

Subros plays it cool with strong numbers 
Shikha Sharma 3 Sep 2010, 10:00

The stock has gained 30% in one year, much higher than the 16% return in the Sensex. Improved demand in the auto sector has benefited the company.

 

Patni Computer: Outlook not so positive with poor strike rate 
Ranjit Shinde 3 Sep 2010, 07:10

The counter of Patni Computer Systems has failed to enthuse investors over the past one year. Its stock has underperformed the broader market indices in this period.

 

Allahabad Bank: Maintaining profit margin may be tough 
Jigar Desai 3 Sep 2010, 00:52

During the stock market run-up in January 2008, the valuations of Allahabad Bank had lagged those of its larger peers.

Europe shares edge up in early trade; US data eyed

REUTERS 3 Sep 2010, 13:48

European shares edged higher in early trade on Friday, after gains in the United States and Japan, but with traders cautious ahead of a key labour market report.

 

Nikkei inches up 0.6 pc; caution before jobs data 
REUTERS 3 Sep 2010, 11:43

Japan's Nikkei average crawled up 0.6 percent on Friday as more encouraging data reassured investors about the state of the global economic recovery.

 

Shanghai slips as IPOs weigh, HK up before US data 
REUTERS 3 Sep 2010, 11:38

China's key stock index slipped in lacklustre trade on Friday morning as upcoming share offerings raised liquidity concerns.

 

Asian stocks edge up in cautious trade ahead of US jobs data 
AGENCIES 3 Sep 2010, 10:51

Asian stocks edged higher on Friday as dealers followed a third straight rise on Wall Street, but gains were limited

 

Asian stocks rise on improving US data 
AGENCIES 3 Sep 2010, 06:48

Asian stock markets climbed in early trading Friday as investors took heart from improving US housing and jobs data.

 

China's cheat sheet helps global investors survive 
Bloomberg 3 Sep 2010, 06:00

The bears may soon be proven right as the bubble bursts and China's boom to be brought to a halt.

 

US stocks rise on economic hopes ahead of payrolls 
REUTERS 3 Sep 2010, 05:56

Stocks rose on low volume on Thursday as data showed improvement in housing and the job market a day ahead of the critical monthly payrolls figures.

 

S&P and Nasdaq buoyed by housing, jobs data 
REUTERS 3 Sep 2010, 01:10

The S&P 500 and Nasdaq advanced on Thursday, building on their best day in eight weeks in the previous session as data showed an improvement.

 

High leverage factor with global economy taking heavy toll on BRIC 
REUTERS 3 Sep 2010, 00:45

Stocks from the so-called BRIC Group are starting to move in lock-step with developed market indices.

 COMMODITIES

BULLION 

Zinc futures down on sluggish spot demand

PTI 3 Sep 2010, 12:15

Amid weak trend at spot markets on sluggish demand, zinc prices fell by Rs 0.55, or 0.55 per cent, to Rs 100.20 per kg in futures trade on Friday.

 

Copper weakens in futures trade on profit-booking 
PTI 3 Sep 2010, 12:12

Copper fell by Rs 0.60, or 0.17 per cent, to Rs 357.65 per kg in futures trade on Friday, as speculators booked profits at existing higher levels.

 

Oil lingers near $75 in Asia as stock markets gain 
AGENCIES 3 Sep 2010, 10:47

Oil prices lingered near $75 a barrel on Friday in Asia, largely holding onto a big gain the day before as investors put a positive spin on US data.

 

Potato prices may dip as Bengal plans stock cut 
Sutanuka Ghosal & Madhvi Sally 3 Sep 2010, 00:24

Potato prices may drop as the West Bengal govt is all set to offload 1 mn tonne (mt) in the market by next week to rapidly cut excess stocks.

 

New DTC brings relief to jewellers 
Ram Sahgal 3 Sep 2010, 00:22

The revised Direct Tax Code (DTC) has removed a clause that gave wide powers to investigating officers conducting raids on jewellers, thus bringing relief to the industry.

Gold futures remain up on global cues

PTI 3 Sep 2010, 14:46

Gold prices rose by Rs 27, or 0.14 per cent, to Rs 19,256 per ten gram in futures trade on Friday as speculators enlarged their positions.

 

Gold buying muted; cautious traders eye price falls 
REUTERS 3 Sep 2010, 14:39

India gold buying continued to be muted for a second day on Friday as traders were cautious about placing fresh deals after prices traded near all-time high.

 

Gold flat as investors await key US jobs data 
REUTERS 3 Sep 2010, 12:34

Gold traded flat on Friday, as institutional investors offset weak physical demand ahead of much anticipated United States jobs data.

 

Gold futures rise on global cues 
PTI 2 Sep 2010, 19:33

Tracking firming global trend, gold prices rose Rs 39, or 0.20 per cent, to Rs 19,129 per ten gram in futures trade on Thursday on fresh buying by speculators.

 

Gold, silver futures rise on global cues, spot demand 
PTI 2 Sep 2010, 15:35

Tracking firming global trend, gold prices rose Rs 39, or 0.20 per cent, to Rs 19,129 per ten gram in futures trade on Thursday.

Source : ET

 

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