Friday, November 2, 2007

Oil & Natural Gas Corpn Ltd (Q2 FY08)

CMP Rs1,250, BUY

Target price Rs1,350, Upside 8%



ä Lower subsidy burden boosts profitability

ä Increased gas production and higher crude realizations drive topline growth

ä Incremental volumes from OVL expected as projects enter the development phase.

ä Undervalued in comparison to global peers on EV/BOE. We recommend a BUY with a target price of Rs1,350.
The market witnessed overall gains but was unable to close above 20000. The Sensex closed at 19976, up 251 points while Nifty closed at 5932, up 65 points from the previous close. The BSE Midcap and Smallcap both closed in the positive. The market breadth was positive with advances at 600 against declines of 576 on the NSE.

The market remained firm this week despite bad global cues. The volatile week ended on a good note with gains across board: The Sensex was up 3.8%, the Nifty 4%. The BSE Midcap Index was up 1.3% and Smallcap 2%. Most sectoral indices were up too: The BSE Realty Index was up 3.5%, the BSE Capital Goods Index 10%, the BSE Bankex 9.5%, the BSE Metal Index 6% and the BSE Oil&Gas 5.8%. Only the BSE FMCG Index was down 3%.

The banking sector cannot be ignored as most banks have posted better numbers than expected and also have good quality of assets, says IV Subramaniam of Quantum AMC, on NDTV Profit. He is bullish on the banking sector. The BSE Bankex Index is up almost 2% today.

Book partial profits in this rally, says Ashwani Gujral, technical analyst, on CNBC-TV18. But it is certainly not a time to buy; wait for the global situation to clear out, he suggests. The market is expected to be choppy ahead, he adds.



Top Five Gainers

CompanyPrice (Rs)% Change
+ Fertilisers & Ch 28.55+19.96
+ National Fertili 66.80+19.93
+ Dena Bank 72.50+11.20
+ Dredging Corpora 959.05+10.00
+ Engineers India 904.10+9.99

Top Five Losers

+ Bharti Airtel 894.85 -5.10
+ Apollo Hospitals 467.60 -4.26
+ Birla Corporation Lt 321.80 -4.04
+ Adani Enterprises Lt 794.05 -3.97
+ Indo Rama Synth. 57.50 -3.93
The market opened on the lower side Friday. The Sensex is currently trading at 19,472, down 252 points from the previous close. Nifty is at 5800, down 65 points. Market breadth is extremely weak, with 105 advances against 500 declines on the NSE.

The Nifty may see 150 point gap-down opening, says an NDTV Profit Poll. The Sensex may come down 500 points today. Some dip buying might come in around 5620.

Thursday, November 1, 2007

At 20000, the market was overvalued by 19 times so a market correction is healthy, says Amitabh Chakrobarthy, president of Religare Securities, on NDTV Profit. The market is likely to witness volatility but money will move from the A group to the midcaps, he adds.

The market may enter a quiet period in November move sideways, says Dipan Mehta, BSE/NSE Member, on CNBC-TV18. The news has dried up (the P-note issue, corporate results) and FII funds will slowdown.

There are a lot of IPOs expected to be announced in November so funds may get diverted, says Sachin Shah of Motilal Oswal Securities, on CNBC TV18. The companies that have posted good results could be accumulated in the portfolio from the midcap and smallcap segments.

After the sharp run up, the market will see a slowdown in momentum and move into consolidation, says Harendra Kumar of ICICI Direct, on CNBC TV18. The market has witnessed large cash players who have been playing safe and taking profits off the table.
Today was a tough day for traders in stock market.

The market was too much volatile finally it ended on a negative note.

Top Five gainers

CompanyPrice (Rs)% Change
+ National Fertili 55.70+19.91
+ MICO 4,736.95+11.38
+ P&G Hygiene&Health 728.85+8.07
+ ONGC 1,330.20+6.60
+ Reliance Petroleum 261.85+6.31

Top Five Loser's

CompanyPrice (Rs)% Change
+ Sterlite Technologie 287.40 -8.30
+ Mphasis Ltd. 288.75 -7.75
+ Reliance Capital 1,963.60 -7.47
+ Bharat Forge Ltd 349.30 -7.31
+ Videsh Sanchar N 517.05 -6.96

The market is shedding its gains and the Sensex is off the day's high. The Sensex is currently trading at 19,676, down 161 points while Nifty is at 5843, down 56 points from the previous close. The market breadth is negative with advances at 329 against declines of 858 on the NSE

At 20000, the market was overvalued by 19 times so a market correction is healthy, says Amitabh Chakrobarthy, president of Religare Securities, on NDTV Profit. The market is likely to witness volatility but money will move from the A group to the midcaps, he adds.

Marktets in a swing mode

The market turns volatile and the Sensex is currently trading at 19941, up 102 points while Nifty is at 5940, up 39 points from the previous close. The BSE Midcap Index is in the negative.

The market breadth is negative with advances at 422 against declines of 754 on the NSE. The major Sensex gainers include L&T, ONGC, HDFC and Reliance Communications while losers include Bharti Airtel, Reliance Industries, ITC and HUL.
The market seems to have given up its gains to profit booking. The Sensex has slipped over 400, 41 points form the previous close. Nifty is at 5898, down 2 points. Market breadth has turned extremely weak, with advances at 351 and declines at 807 on the NSE.

Marico is a buy at current levels and even if it falls to Rs 65 or so, says Hitendra Vasudeo, technical analyst, on CNBC-TV18. In the short to medium term, it can go up to Rs 85-88 and i9n the longer term, much beyond that, he adds. It is currently trading at Rs 68.50, up 1.6% on the BSE.

If Maytas Infra can trade consistently above Rs 700, then it can go up to Rs 863 or even Rs 900, says Hitendra Vasudeo, technical analyst, on CNBC Awaaz. But on the downside, it can dip towards Rs 660, he adds. He believes the stock will be a little volatile from here. It is currently trading at Rs 745, up 1.1% on the BSE.

points form the day's high and is currently trading at 19,796, down

Markets down goes into negative mode loses 100 points

After a Morning gain of 300 points & going above 20000 points.

The stock market lost it's momentum & fell more than 100 points from previous day's close.

Hopefully this should be a temporary setback & the market should recover.

Hindalco is a good long-term investment, as it can give 40-50% returns from current levels in the next 18-24 months, says Sandeep Shenoy of PINC Research, on CNBC Awaaz. The stock is currently trading at Rs 199.05, up 1.4% on the BSE.

The market is holding on to its gains. The Nifty is trading above the 6000 mark, at 6005, up 104 points form the previous close. Sensex is also trading well above the 20,000 mark at 20,123, up 285 points. The BSE Midcap and Smallcap indices are up over 1% each. Market breadth is strong with 704 advances against 417 declines on the NSE. All sectoral indices, but FMCG, are trading higher. The capital goods space is clearly leading the rally; BSE Capital Goods index is up 5.3%.

The next near term target (3-4 months) for the Sensex is 22,000-24,000, says Hitendra Vasudeo, technical analyst, on CNBC-TV18. It will have a strong base at 18,000 or so, he adds.
Religare Enterprises Ltd

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ä Retail branch network across pan India .

ä Well diversified product portfolio catering to retail, high networth individual, and institutional clients.

ä Competitive player with recognized brand name.

ä Aggressively tapping the online trading opportunity.

Markets Open Up :)

The market opened with a good gap up Thursday, thanks to the expected Fed rate cut announcement. The Nifty has touched 6000 for the first time ever and is currently trading at 6004, up 103 points from the previous close. The NSE 50-share index took 24 days to complete its journey from 5000 to 6000. The Sensex is also trading above the 20,000 mark, at 20,181, up 343 points.
The Sensex rises for the second month and October logs the best monthly return in 2007. The Sensex is up 14.5% in October making it the month of best returns since 1990.

The market is likely to see choppy times ahead, says Sudarshan Sukhani, technical analyst, on CNBC-TV18. Buy specific stocks on dips and exit at new highs, he adds.

The market witnessed some choppiness but was able to hold on to its gains and closed in the positive. The Sensex closed at 19837, up 54 points while Nifty closed at 5900, up 31 points from the previous close. The BSE Midcap Index was up 0.75% and Smallcap Index was up 1.5%. The market breadth was barely positive with advances at 593 against declines of 592 on the NSE. The major Nifty gainers include RPL, Reliance Industries, ONGC and Hindalco, while losers include MTNL, BHEL, L&T and Tata Motors.


Buy Reliance Petroleum CMP Rs 246 Target Rs 255-260

Buy Reliance Communications CMP Rs 772 Target Rs 820-850

Wednesday, October 31, 2007

The stock market was volatile today however it managed to close on a positive note
Sensex : 19837.99 54.48 Nifty : 5900.65 31.90


Top Five Gainers

CompanyPrice (Rs)% Change
+ Jindal St & Pwr 11,884.40+25.64
+ Century Enka 168.45+15.38
+ Sterlite Technologie 313.40+12.73
+ Jindal Saw 787.20+11.99
+ Nestle India 1,530.00+11.82

Top Five Losers

+ Tata Elxsi Ltd. 257.05 -6.58
+ MTNL 179.55 -5.52
+ Hindustan Unilever L 207.60 -5.21
+ Bank of India 357.30 -4.11
+ United Phosphorus 355.20 -3.91

Good Morning for the Indian Stock Market

The stock market is trading on a positive note at 10.30 a.m.

The bse sensex is at Sensex : 19896.15 112.64 Nifty : 5915.85 47.10

Stay invested in the current market, but do not put in fresh money at current levels, says Ashish Kapoor, CEO, Investshoppe, on Zee Business. There will be dips, wherein you will get an oppoturnity to buy, he says.

Tuesday, October 30, 2007

Top Five Gainers

CompanyPrice (Rs)% Change
+ Mangalore Refine 80.75+26.77
+ Bank of India 372.60+17.93
+ Reliance Capital 2,127.70+14.75
+ Chennai Petro. 344.05+8.81
+ Union Bank of In 174.05+8.07

Top Five Losers

+ Maruti Suzuki India 1,087.95 -8.46
+ Engineers India 754.65 -7.19
+ Mahi. & Mahi 740.60 -7.00
+ Steel Authority 261.05 -5.60
+ Alstom Projects Ind. 940.85 -5.32
Buy Indian Hotels Company Ltd (IHCL) (Q2 FY08)

CMP Rs144,

Target price Rs160, Upside 11.2%


‰ Sales growth of 15.7% yoy lower than our estimates due to lower room
availability; ARR growth remains healthy
‰ Reduction in staff costs and other expenditure lead to a 420bps yoy
improvement in operating margins
‰ Higher interest cost and tax outgo erode operational improvements; net profit
up 16% yoy


ARR growth remains healthy at 15-20% yoy
Indian Hotels reported a 15.7% increase yoy in sales although room rates
increased by about 15-20% in major business and leisure destinations along with
higher occupancies at 68%. Marginally lower sales growth was an account of lower
room availability, especially at its flagship Taj property in Mumbai where several
rooms were taken for refurbishment. However, these are now back into operations,
ahead of the busy second half.
All round reduction in costs lead to 420bps increase in margins
Operating margins for the quarter improved by 420bps to 29% as staff costs and
other expenditure declined. Better cost control in the first half augurs well for the
busy season ahead, as September quarter has been traditionally the lowest margin
quarter for the company.
Higher interest cost and tax outgo erode operational improvements
Interest cost for the quarter was higher on account of full deployment of FCCB
proceeds which were utilized for acquisition of Taj Boston and incremental debt
raised. Consequently, profit growth was at 16%, despite strong operating margin
improvement.
Earnings growth of 19.6% over FY07-FY09E; maintain BUY
Expansions in domestic and international markets to drive 19.6% earnings CAGR
over the next two years. Maintain BUY with a target price of Rs160, based on 18x
FY09E EPS of Rs8.8.

So Near Yet So Far

Market unable to hold the 20000 mark slipped to 19783, down 194 points

The Nifty also closed at 5868 down 37 points

Reliance stocks on a Rampage closing at New high everyday.



The markets ended in red after a sharp run up in the past few sessions. It was an important day as RBI announced the credit policy. According to experts, markets will be unaffected by the the new credit policy as the credit policy was largely inline with street expectations. In the new credit policy, repo rate and reverse repo is left unchanged and CRR has been hiked by 50 bps it has maintained the GDP forecast at 8.5%. The rupee has appreciated at 39.38 against the dollar.

CRR hike is largely a liquidity management tool than used for signalling any interest rate changes. The policy has largely managed the status quo, say experts.

RPL, Sterlite Ind, BHEL and Bharti Airtel were trading strong. However, trading weak were PNB, M&M, TCS and Maruti Suzuki.

Sensex was down 194.16 points or 0.97% at 19783.51, and the Nifty down 37.15 points or 0.63% at 5868.75.

About 1217 shares have advanced, 1760 shares declined, and 81 shares are unchanged.

The BSE Midcap Index ended at 8,048.07 down 0.4%.

The BSE Smallcap Index ended at 9,644.44 down 0.6%.

The BSE Bankex was down 1% at 10,550.09. PNB, Kotak Mahindra, SBI, IOB, ICICI Bank, Andhra Bank moved downwards.

The BSE Capital Goods Index was up 1% at 20,006.57. Punj Lloyd, AIA Engineering, Areva T&D, ABB, BHEL closed lower.

The BSE Auto Index closed at 5,479.89 down 3%. Maruti Suzuki, Mah and Mah, Tata Motors, Tube Investment, Punj Tractors closed lower.

The BSE Metal Index closed at 17,302.22 up 1%. Sesa Goa, Jindal Steel, Sterlite Ind, Hindalco, Hind Zinc closed lower.

The BSE FMCG Index closed at 2,146.87 down 1%. Britannia, ITC, P&G, Tata Tea,HUL closed lower

BSE Oil and Gas Index closed at 11,526.30 down 1%. BPCL, Reliance, ONGC ended in red.

The BSE IT Index was down 0.6% at 4,647.53. TCS, Iflex, Satyam, Infy ended in red.

The NSE cash turnover was at Rs 24611.60 crore and the NSE F&O turnover was at Rs 89601.31 crore. The BSE cash turnover was Rs 10948.83 crore. Total market wide turnover was at Rs 125161.74 crore.

Mkt trades in red amid volatility post new credit policy

The market continue to witness volatility and are rangebound. It has been unaffected by the the new credit policy as the credit policy is largely inline with street expectations. In the new credit policy, repo rate and reverse repo is left unchanged and CRR has been hiked by 50 bps maintaing the GDP forecast at 8.5%. The rupee has appreciated at 39.38 against the dollar.

CRR hike is largely a liquidity management tool than used for signalling any interest rate changes. The policy has largely managed the status quo, say experts.

RPL, Sterlite Ind, BHEL and Bharti Airtel are supportiing the markets. However, trading weak are PNB, M&M, TCS and Maruti Suzuki.

At 15.03 hrs IST, the Sensex is down 197.51 points or 0.99% at 19780.16, and the Nifty down 40.25 points or 0.68% at 5865.65.

About 1200 shares have advanced, 1786 shares declined, and 72 shares are unchanged.

The auto index is trading soft down 1.5%, bankex is trading flat with a negative bias.

BSE capital goods and metal indices are trading higher up over 1% each. Broader markets are trading absolutely flat.

Top gainers on the Sensex are BHEL up 4%, Reliance Energy up 5% and Larsen up 2.5%. On Nifty Reliance Petro up 7% and ABB is up 5%.

Top losers on the Sensex are Mah and Mah down 5%, Maruti Suzuki down 7% and HDFC down 2%.

Mkt trades in green post new credit policy: Cap goods up

The markets are trading in green amid volatlity. It has been unaffected by the the new credit policy as the credit policy is largely inline with street expectations. In the new credit policy, repo rate and reverse repo is left unchanged and CRR has been hiked by 50 bps maintaing the GDP forecast at 8.5%. The rupee has appreciated at 39.38 against the dollar.

CRR hike is largely a liquidity management tool than used for signalling any interest rate changes. The policy has largely managed the status quo, say experts.

The auto index is trading soft down 1.5%, bankex is trading flat with a negative bias.

At 13.09 hrs IST, the Sensex is up 49.74 points or 0.25% at 20027.41, and the Nifty up 48.65 points or 0.82% at 5954.55.

About 1391 shares have advanced, 1585 shares declined, and 82 shares are unchanged.

The auto index is trading soft down 1.5%, bankex is trading flat with a negative bias.

BSE capital goods and metal indices are trading higher up over 1% each. Broader markets are trading absolutely flat.

At 12.05 hrs IST, the Sensex is down 53.37 points or 0.27% at 19924.30, and the Nifty up 12.25 points or 0.21% at 5918.15.

About 1320 shares have advanced, 1654 shares declined, and 84 shares are unchanged.

Top gainers on the Sensex are BHEL up 4%, Reliance Energy up 5% and Larsen up 2.5%.

Reliance Petro up 7% and ABB is up 5%.

Top losers on the Sensex are Mah and Mah down 5%, Maruti Suzuki down 7% and HDFC down 2%.

Most active shares on NSE are Reliance at Rs 2,827.90 with 4,509,526 shares, Reliance Petro at Rs 221.80 with 55,195,925 shares and Larsen & toubro at Rs 4,267.75 with 2,738,438 shares.

Market trades flat; unaffected by credit policy

The market trades flat with a bit of volatility but no turbulence, unaffected by the the new credit policy as the credit policy is largely inline with street expectations. In the new credit policy, repo rate and reverse repo is left unchanged and CRR has been hiked by 50 bps maintaing the GDP forecast at 8.5%. The rupee has appreciated at 39.38 against the dollar.

CRR hike is largely a liquidity management tool than used for signalling any interest rate changes. The policy has largely managed the status quo, say experts.

The auto index is trading soft down 1.5%, bankex is trading flat with a negative bias.

BSE capital goods and metal indices are trading higher up over 1% each. Broader markets are trading absolutely flat.

At 12.05 hrs IST, the Sensex is down 53.37 points or 0.27% at 19924.30, and the Nifty up 12.25 points or 0.21% at 5918.15.

About 1320 shares have advanced, 1654 shares declined, and 84 shares are unchanged.

Top gainers on the Sensex are BHEL up 3.5%, Reliance Energy up 3% and Larsen up 1%.

Top losers on the Sensex are Mah and Mah down 6%, Maruti Suzuki down 6% and HDFC down 2.5%.

Most active shares on NSE are Reliance at Rs 2,827.90 with 4,509,526 shares, Reliance Petro at Rs 221.80 with 55,195,925 shares and Larsen & toubro at Rs 4,267.75 with 2,738,438 shares.

Mkts trading flat; Rel Energy, BHEL top gainers

The markets have given up all its gains after gap up opening and are now trading flat amid little volatility. Profit booking was witnessed on the higher level in the early trade today across the sectors. All the BSE key indices are trading in red except capital goods pack.

At 11.10 am, the Sensex is down 84.93 points or 0.43% at 19892.74, and the Nifty down 7.20 points or 0.12% at 5898.70. About 1390 shares have advanced, 1588 shares declined, and 80 shares are unchanged.

Markwet breadth has turned negative with over 470 stocks on the advancing side and over 640 stocks on the decline side. Rupee was quoting at 39.41 against US dollar.

Top gainers on the Sensex are BHEL at Rs 2,730 up 4.51%, Reliance Energy at Rs 1,780 up 3.38% and Larsen at Rs 4,401.05 up 2.89%.

Top losers on the Sensex are Mah and Mah at Rs 765.05 down 3.93%, Maruti Suzuki at Rs 1,165 down 1.97% and HUL at Rs 216.30 down 1.57%.

Most active shares on NSE are Reliance at Rs 2,827.90 with 4,509,526 shares, Reliance Petro at Rs 221.80 with 55,195,925 shares and Larsen & toubro at Rs 4,267.75 with 2,738,438 shares.

Markets open strong; cap good, banks up

The markets have opened on strong note today on account of heavy buying witnessed in the capital goods and banking stocks. Sensex opened way above 20,000 today and Nifty also inched up towards 60,00 level.

At 9:56 am, Sensex was up 260 points at 20103 and Nifty was up 60 points at 5966. Major gainers in the early trade were Rel Petroleum, ICICI Bank, HDFC bank, L&T, BHEL, Bharti Airtel, ONGC and Siemens.

Asian markets mostly declined today as investors locked in profits after a recent rally. Japan's Nikkei fell 0.70% or 117.44 points at 16,580.64, Taiwan's Taiwan Weighted was down 0.06% or 6.12 points at 9,803.76., Singapore's Straits Times plunged 0.36% or 13.78 points at 3,806, South Korea's Seoul Composite declined 0.46% or 9.47 points at 2,053.45. However, Hong Kong's Hang Seng rose 0.36% or 114.36 points at 31,701.26.

US markets: The Dow Jones Industrial Average gained 63.56 points, or 0.46%, to 13,870.26. The Standard & Poor's 500 index rose 5.70 points, or 0.37%, to 1,540.98, while the Nasdaq composite index gained 13.25 points, or 0.47%, to 2,817.44.

RBI hikes CRR other key rates unchanged!

The RBI Governor, YV Reddy announced the credit policy in Mumbai today.

RBI has hiked the CRR by 50 bps to to 7.5% from 5%. However, the other key rates including the repo and reverse repo rates have remained unchanged.

The bank rate remains unchanged at 6% while the RBI has kept its inflation target for FY08 at 5%. RBI�s GDP forecast too remains unchanged at 8.5%.





The RBI has said that the surplus liquidity needs priority attention. It needs to check bank credit risk from faulty derivative record, it added. Oil companies can hedge forex exposure up to 50% of inventory, it added.



The central bank said that money supply is expanding well above 17-17.5%. There is evidence of stability in real estate prices, it revealed. However, it informed that there are irregularities seen in banks' real-estate exposure.



The RBI has said that 10 banks have high exposure to real estate and stocks, adding that it will continue to manage liquidity through reins like CRR, MSS and LAF (liquidity adjustment facility). RBI said that credit growth is in line with 24-25% target. It confirmed that the credit policy stance has been more hawkish than July; the emphasis being on capital flows.



The Reserve Bank said that that authorized dealers have been allowed to run cross currency options. The total credit growth of 23.3% as on October12 stood at Rs 3.81 lakhs crore, it informed. Managing liquidity arising from forex flows posed a key challenge, it said. The Consumer Price Index (CPI) inflation has been up at 7.3% in August 2007 Vs 6.3% (YoY). The deposit growth is ahead of FY08 target of Rs 4.9 lakhs, the central bank informed.
The Reserve Bank of India has announced the Credit Policy. The Repo and Reverse Repo rates are unchanged, but CRR has been hiked by 50 bps to 7.5% in one tranche from November 10, reports CNBC-TV18. The RBI has kept the bank rate unchanged at 6%.

Cash Reserve Ratio or the CRR is the amount of money that every bank has to deposit to the RBI and this affects the banks' operating margins at the macro level. It is now at 7.5%, which means if a bank has Rs 100 crore, they have to keep Rs 7.5 crore with the Reserve Bank of India as reserve. This is necessary to control the liquidity in the market. The BSE Bankex has slipped into the negative zone, down 0.13%.

The RBI has set a GDP target of 8.5% and 5% as the inflation target for FY08, reports CNBc-TV18.

Markets unable to hold to 20000 point goes down

Profit booking has pushed the key indices, Sensex and Nifty, into the negative terrain. Sensex is at 19,875, down 102 points and Nifty is at 5871, down 34 points from the previous close.

The RBI may not hike the Cash Reserve Ratio, CRR, says Sanju Verma of HDFC Securities, on CNBC-TV18. According to a CNBC-TV18 Bankers Poll, 75% feel there will be no hike in the CRR, while 15% feel otherwise.

MTNL has made some sharp moves and it seems to be heading to Rs 230, says Ashwani Gujral, technical analyst, on CNBC-TV18. The stock is at Rs 198.80 currently.

Monday, October 29, 2007

The markets have begun the week with relentless strength and it seems like they have almost made up their mind to touch the 20K mark.

Capital goods, banking, metal and realty stocks are in focus. Market breadth is positive with impressive volume. All the key indices are trading in green and there was no loser in Sensex scrips today.

Ajay Srivastav of Dimensions Consulting says that one should put all worries regarding markets behind.





"Well my feeling for the markets is that, I am feeling wonderful, expanding my shopping list. Life looks good at the end of the year. The results are also here to like Thermax, Grasim, L&T and they all have shown absolutely fabulous results. So there is no need to complain, no need to worry about."

Technical Analyst Ashwani Gujral said that Sensex will definitely reach 20,000 and advised that people should take some profits and try to re-enter at lower levels. He observed that it is a time for caution.



"I think 20K will come and many more milestones will also come, but with a 2,800 points rally over 7-10 days. People should take some profits and try to re-enter at lower levels, because we are moving up quite fast. A lot of people may get stuck at higher levels. So, this is a time for caution as well. But on the Nifty, we still believe that 6,100 and then 6,350-6,400 is possible. The support is way lower at previous highs of 5,736 - 5,740," said Gujral.



S Ranganathan, Head of Research, LKP Shares advised that investors should look at individual stocks.


”There is lot of appetite, in the retail side of the market, for buying stocks. One should not look at the indices per se. The best case scenario here, is to look at individual stocks, where you are reasonably confident and convinced about the businesses and the business model. That is the best route we believe the investors can take at this point in time,” said S Ranganathan.
The markets are witnessing a phenomenal bull run and the psychological level of 20,000 is now within striking distance for the BSE Sensitive Index.



CNX Nifty was also holding up strongly above 5,900 mark.








All the BSE sectoral indices were trading in green with significant gains. Capital Goods index has outperformed the other indices, which has gained nearly 7%.



The Oil and gas index was up over 4%. BSE Bankex and metal indices were up over 3% each.

In Sensex 30 stocks, Larsen and Toubro gained 10%, BHEL, ONGC and HDFC Bank were other top gainers in the same pack.

Stocks performace

Company Name


Last Price


% Gain

Larsen


4,265.00


10.01

BHEL


2,649.00


8.93

ONGC


1,233.05


6.67

HDFC Bank


1,630.00


5.43

HDFC


2,701.00


5.26

Reliance


2,809.80


4.37













Sectors performance

Index Current Value Change(%)
SENSEX 19,920.12 3.52
MIDCAP 8,069.24 1.88
SMLCAP 9,715.00 1.72
AUTO 5,724.56 1.92
BANKEX 10,583.38 3.02
CD 5,301.73 1.29
CG 19,818.25 6.89
FMCG 2,158.50 1.4
HC 3,936.38 1.3
IT 4,664.00 0.61
METAL 17,251.19 3.03
OIL&GAS 11,601.03 4.48
REALTY 10,306.36 2.85

Markets on a Rampage

The Bse Sensex just closed below 20,000 points & the Nifty close at 5905 points

Reliance stocks were the major gainers followed by Sbi & others

Now the question comes for how long will this party continue ?







The market crossed yet another milestone today! Ahead of the Credit Policy announcement expected tomorrow and the Fed meet on October 31, the Sensex closed at an all-time high, after hitting the 20,000 mark in late trade today. It closed at 19,977, up 734 points from the previous close. It was the third biggest single day absolute gain for the BSE 30-share index. The Nifty ended the day at 5900, up 198 points. The 50-share index also touched an all-time intra-day high of 5922 today. The leaders of the rally were capital goods stocks, along with oil & gas, metals, banking and realty. Sensex gainers for the day included L&T, HDFC, BHEL, ONGC and HDFC Bank

Markets open with a bank posed to cross the 20,000 mark

The market has opened strong Monday. Within a couple of minutes, the Sensex jumped 616 points at 19,859. Nifty was at 5861, up 159 points from the previous close. The NSE 50-share index touched an all-time high.

India is likely to see a GDP growth of 9% for the current financial year, says Finance Minister P Chidambaram, reports Zee Business. But growth in infrastructure is less than the GDP and therefore he has asked pension and insurance companies to look at investing more in the infrastructure sector.

There is a lot of retail money sitting on the sidelines waiting to get into the market, says Ajay Srivastava of Dimension Consulting, on CNBC-TV18. The market has factored in the slowing down of FII flows to an extent, he adds.