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Showing posts with label Investing. Show all posts
Showing posts with label Investing. Show all posts

Infy results, IIP data fail to cheer markets; Sensex sheds 104 pts

Posted by blog master Tuesday, January 12, 2010

Mumbai: Indian equity indices continued their southbound journey, falling the most in the three months, after witnessing volatility throughout the trading session. Even the strong industrial production numbers that was released on Monday and the surprisingly positive result of IT major Infosys could not cheer the market. Weak cues from the European and Asian markets coupled with selling in the realty and metal stocks led the markets to end the day on negative terrain.
There were concerns that Indian Industrial Production (IIP) which rose to 11.7% for November also indicated that central bank will tighten monetary policy in its review on January 29. Vaibhav Sanghavi, a director at Ambit Capital reckons, "It raises concern that the Reserve Bank of India may start phasing out the stimulus package. We may see some tightening of rates soon."
The Sensex of the Bombay Stock Exchange (BSE) lost 104.20 points, or 0.59%, to end the day at 17,422.51 points. The broader S&P CNX Nifty of the National Stock Exchange (NSE) was down by 39 points, or 0.74%, to close the day at 5,210.40 points. The BSE IT index showed a positive close of 3.91% as the results of Infosys Technologies surprised analysts with a 2.7% jump in net earnings. "It feels like 2004 all over again as Infosys results point to a major up-cycle in outsourcing, driving earnings upto levels not imagined till recently," said a report generated by CLSA's research team.
source-financialexpress.com

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Nifty support seen at 5100-5200 level

Posted by blog master Sunday, January 10, 2010

The Nifty opened the week on a positive note and maintained above 5200 levels since the beginning of the week till the end. However, it could not
close above 5300 levels, even after crossing it twice in a week since January 4. A long build-up was seen during the Monday-Wednesday period.

On Friday, Nifty February futures closed at 5249 levels with five points premium to the Nifty and 17-points loss. The Open Interest decreased by 1%. Long unwinding was seen in Nifty February futures on Thursday and Friday. Put Call Ratio (V), after remaining above one with a high of 1.27 and a low of 1.12 during the week, which shows trading activity on the Put side was of little more interest, but good for market health.

Overall, a long build-up was seen and no major sign of short build-up was seen. In the February series, a maximum open interest was seen on 5300/5400 Calls. On Thursday and Friday, a short build-up was seen in 5300 Call and Open Interest was increased above 10% on both days, which shows the 5300 level to be an effective resistance for further price advance. On the Put side, a maximum Open Interest was seen in 5000/5200 /5100 Puts and a long build-up was seen in 5200/5100 Puts. However, open interest was not so huge.

F&O cues are showing resistance from 5300 levels and support at 5100-5200. Technically, a decisive price rally has not been taking place in major indices of the US, Europe and Asian markets.
source-economictimes.indiatimes.com
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Nifty likely to face resistance at 5300 level

Posted by blog master Tuesday, January 5, 2010

The Nifty rallied for the third consecutive day, touching a new 52-week high. Based on good global cues, the Nifty made a gap-up opening carrying

the positive basis.


The sustained upmove on the Nifty attracted over a million shares yet again in open interest. Although the movements in the Nifty are of not more than 50 bps, the additions in Open interest on the Nifty future side are negating the low-base effect with which we started January. Continuing premium on the Nifty indicates additions of more longs than shorts. Nifty futures may face minor resistance at 5300 levels, but would target 5410 levels ahead in the series.


The option composition for January series remains in a reasonably bullish mode with Open Interest Put Call Ratio at 1.42 for January Series. Nifty options indicate immediate support at 5200, while 5000 remains the heaviest build in Put creating an intermediate strong support.


As far as upside is concerned the move on the Nifty may be a little slow, given the amount of Call build-up on the higher side 5300-5500. Even at these higher levels, Nifty options are not pricing in risk of any big fall as indicated by lower Implied Volatility of mid-20%. So, we recommend initiating a Nifty bull Call spread — buying Nifty January 5200 CE, selling Nifty January 5300 CE and selling Nifty January 5400 CE. This strategy will be profitable at 5200-5500 on expiry.


Jitendra Panda

Sr VP-business associate

Motilal Oswal Financial

source-http://economictimes.indiatimes.com


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Nifty closes above 5275 as metals, realty rally

Posted by blog master

Phiroze Jeejeebhoy Towers ps: photo has been t...Image via Wikipedia
MUMBAI: Equities ended on a positive note on Tuesday following gains in metals, realty and power stocks. Broader markets outperformed the
benchmarks even as traders discounted negative cues from Europe. ( Watch )

The indices have been hitting new yearly highs on hopes of 6.75 per cent GDP growth for 2009-10. Traders are optimistic of third quarter results from India Inc taking cues from surge in auto sales and cement dispatches.

“We have been bearish but markets seems to be gung-ho about third quarter results. It needs to be seen how the results pan out,” said Ajay Parmar, head of research, Emkay Shares and Stock Brokers.

Bombay Stock Exchange’s Sensex closed at 17,686.24, up 127.51 points or 0.73 per cent. The index touched an 52-week high of 17729.78 and low of 17555.77.

National Stock Exchange’s Nifty ended at 5277.90, up 45.7 points or 0.87 per cent. The broader index hit a 52-week high of 5288.35 and low of 5242.40.

BSE Midcap Index was up 1.2 per cent and BSE Smallcap Index gained 0.85 per cent.

Amongst the sectoral indices, BSE Metal Index moved higher by 3.82 per cent, BSE Realty Index advanced 1.14 per cent and BSE FMCG Index moved up 0.87 per cent. BSE Auto Index was down 0.25 per cent.

Metals witnessed a sharp spurt, particularly with shares of aluminium manufacturers Hindalco and NALCO hogging the spotlight on speculation of rise in Chinese alumina prices. Shares of NALCO ended 14.96 per cent higher on NSE.

“Overall demand is improving and there are signs of development in the US and China. Not only aluminium, but prices of iron ore and sponge iron have moved up. This has resulted in rise in share prices,” Parmar added.

Biggest Sensex gainers comprised Hindalco Industries (7.39%), Jaiprakash Associates (5.79%), Sterlite Industries (4.57%), Reliance Communications (3.51%) and Grasim Industries (3.36%).

Maruti Suzuki (-2.27%), Tata Motors (-1.99%), ACC (-1.37%), NTPC (-1.08%) and Reliance Industries (-0.54%) resisted the upmove.

Godrej Properties had a stellar listing. The scrip ended at Rs 536.05, up Rs 46.05 or 9.40 per cent on NSE. It touched a high of Rs 586.80 and low of Rs 502.15 during the day.

Market breadth was positive on the BSE with 1768 advances and 1119 declines.

European markets bounced back into the green led by banks and the US markets were likely to open flat. At 4:50 pm IST, Dow Jones stock futures was up 0.05 per cent, S&P 500 moved 0.02 per cent higher and Nasdaq 100 declined 0.08 per cent.
source-http://economictimes.indiatimes.com
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Nifty closes below 5175; ITC, Jindal Steel down

Posted by blog master Wednesday, December 30, 2009

The Bombay Stock Exchange, in Mumbai, is Asia'...Image via Wikipedia
MUMBAI: Benchmarks ended lacklustre trade on a negative note on Wednesday ahead of December series expiry. Gains in realty, auto and banks were offset by losses in FMCG, metals and capital goods.

National Stock Exchange’s Nifty ended at 5169.75, down 18.2 points or 0.35 per cent. The index touched an intraday low of 5160.10 and high of 5197.05.

Bombay Stock Exchange’s Sensex closed at 17338.29, down 63.27 points or 0.36 per cent. The 30-share index touched a high of 17440.05 and low of 17322.80

BSE Midcap Index was up 0.52 per cent and BSE Smallcap Index moved 1.19 per cent higher.

Amongst the sectoral indices, BSE Realty Index was up 0.60 per cent, BSE Auto Index gained 0.13 per cent and BSE Bankex was up 0.10 per cent. BSE FMCG Index shed 1.21 per cent and BSE Metal Index slipped 0.78 per cent.

ITC (-2.26%), Jindal Steel (-2.23%), Hero Honda
(-2.21%), GAIL (-1.84%) and Cairn India (-1.65%) were amongst the major Nifty losers.

Reliance Infrastructure (1.61%), ACC (1.21%), Cipla (1.15%), Grasim (1.11%) and Reliance Power (1.07%) were amongst the gainers.

Market breadth was positive on the BSE with 1774 advances and 1084 declines.




source-http://economictimes.indiatimes.com

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Sensex up 81 pts; Nifty crosses 5,200 level

Posted by blog master Monday, December 28, 2009

BSE LogoImage via Wikipedia
MUMBAI: The Bombay Stock Exchange benchmark Sensex on Tuesday rose by 81.10 points to 17,441.71 points on buying by funds in auto and consumer

durables stocks.

The wide-based National Stock Exchange index Nifty breached the 5,200 points level moving up by 23.65 points to 5,202.05 points.

Brokers said fresh buying activity picked up on optimism over the global economic recovery and robust December quarter earnings for domestic companies.

Mixed cues from other Asian markets also influenced the trading sentiments here, they added.

Among Sensex stocks, power producer NTPC rose by 2.33% to Rs 235.25, while Reliance Infra gained 2.08% at Rs 1,123.00. The country's largest private lender, ICICI Bank, moved up 1.66% to Rs 877.05.

Two-wheeler major Hero Honda rose by 1.29% at Rs 1,757.00, while auto major Tata Motors moved up 1.03% to Rs 788.

The BSE consumer durables index rose by 1.21% to 3,699.41 points while the auto index gained 0.45% at 7,389.62 points.



SOURCE-http://timesofindia.indiatimes.com

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