Thursday, November 15, 2007
It was a good day for the midcaps and smallcaps, but the largecaps seemed to be a bit tired after yesterday's run-up. The BSE benchmark Sensex closed at 19,784, down 144 points from the previous close. Nifty shut shop at 5912, down 25 points. But BSE Midcap and Smallcap indices ended the day on a good note, up 1.6% and 1.9% respectively. The CNX Midcap index closed over 2%. Market breadth was positive throughout the trading session today.
The Sensex ended the day at 19,761 (provisional), down 167 points from the previous close. Nifty closed at 5902 (provisional), down 35 points.
The Nifty needs to go and stay at 6000 for sometime, to move further up to 6500, says Ashwani Gujral, technical analyst, on CNBC-TV18. On the downside, it has good support at 5500, he adds. A good amount of profit booking might come in at these levels, so 6000 seems to be a resistance for the Nifty, he says.
The Nifty needs to go and stay at 6000 for sometime, to move further up to 6500, says Ashwani Gujral, technical analyst, on CNBC-TV18. On the downside, it has good support at 5500, he adds. A good amount of profit booking might come in at these levels, so 6000 seems to be a resistance for the Nifty, he says.
The market is witnessing slight profit booking today, after a huge run up yesterday. The Sensex is at 19,847, down 82 points from the previous close. Nifty is flat at 5937. But the BSE Midcap and Smallcap indices are holding on to their gains and are up 1.4% and 1.9% respectively. Some profit booking is seen in banking and capital goods stocks. Market breadth is positive, with 835 advances against 306 declines on the NSE.
The Sensex may be somewhere between 20,000 and 21,000 by December-end, says Ajay Bagga, CEO, Lotus India Asset Management Company, on CNBC Awaaz. Technology was one of the laggards in the bull run seen this year and the BSE It index has given -15% returns over the past one year, he says. But he suggests one can start accumulating good stocks from this space, as they can give good returns in the coming 6-12 months.
The Sensex may be somewhere between 20,000 and 21,000 by December-end, says Ajay Bagga, CEO, Lotus India Asset Management Company, on CNBC Awaaz. Technology was one of the laggards in the bull run seen this year and the BSE It index has given -15% returns over the past one year, he says. But he suggests one can start accumulating good stocks from this space, as they can give good returns in the coming 6-12 months.
Following the stupendous run yesterday, the markets opened with modest loss today on the back of weak cues from the global markets. Market breadth was positive with over 550 stocks on the advancing side and about 300 stocks on the decline side.
At 9:56 am, Sensex was down 94 points at 19834 and Nifty was down 1 points at 5937. major gainers in the opening move were Hindalco, L&T, BHEL, Tisco, Tata Motors, Rel Energy, ONGC, Bharti, Airtel and Essar Oil.
Asian markets were trading lower. Hong Kong's Hang Seng plunged 0.53% or 153.32 points at 29,012.69, Taiwan's Taiwan Weighted fell 0.21% or 18.53 points at 8,924.40, Singapore's Straits Times tumbled 0.62% or 22.03 points at 3,502.88, South Korea's Seoul Composite was down 0.30% or 5.95 points at 1,966.63. However, Japan's Nikkei rose 0.34% or 52.53 points at 15,552.09.
US markets: The Dow fell 76.08 points, or 0.57%, to 13,231.01. Broader stock indicators also fell. The Standard & Poor's 500 index lost 10.47 points, or 0.71%, to 1,470.58, while the Nasdaq composite index tumbled 29.33 points, or 1.10%, to 2,644.32.
At 9:56 am, Sensex was down 94 points at 19834 and Nifty was down 1 points at 5937. major gainers in the opening move were Hindalco, L&T, BHEL, Tisco, Tata Motors, Rel Energy, ONGC, Bharti, Airtel and Essar Oil.
Asian markets were trading lower. Hong Kong's Hang Seng plunged 0.53% or 153.32 points at 29,012.69, Taiwan's Taiwan Weighted fell 0.21% or 18.53 points at 8,924.40, Singapore's Straits Times tumbled 0.62% or 22.03 points at 3,502.88, South Korea's Seoul Composite was down 0.30% or 5.95 points at 1,966.63. However, Japan's Nikkei rose 0.34% or 52.53 points at 15,552.09.
US markets: The Dow fell 76.08 points, or 0.57%, to 13,231.01. Broader stock indicators also fell. The Standard & Poor's 500 index lost 10.47 points, or 0.71%, to 1,470.58, while the Nasdaq composite index tumbled 29.33 points, or 1.10%, to 2,644.32.
Top Five Gainer's
Top Five Loser's
| Company | Price (Rs) | % Change |
| + Rashtriya Chem&Fert. | 72.10 | +19.97 |
| + HMT Ltd. | 104.00 | +19.95 |
| + National Alumini | 421.85 | +14.71 |
| + HDFC Bank | 1,749.10 | +10.81 |
| + Finolex Industri | 80.00 | +10.42 |
Top Five Loser's
| + Nestle India | 1,380.00 | -3.88 |
| + Asahi India Glass | 97.10 | -2.71 |
| + Jet Airways | 820.25 | -2.56 |
| + Aventis Pharma Ltd. | 975.05 | -2.39 |
| + Titan Ind Ltd. | 1,560.15 | -2.36 |
Wednesday, November 14, 2007
The day, undoubtedly, belonged to the bulls! Positive global cues pushed the market back towards its earlier highs today. The broad based rally was mainly led by the largecaps, but midcaps and smallcaps contributed too. The Sensex ended the day at 19,929, up 893 points or 4.7% from the previous close. Nifty shut shop at 5938, up 243 points or 4.3%. The 50-share index touched an intra-day high of 5950 today. BSE Midcap and Smallcap indices gained over 2% each. Top Sensex gainers included HDFC Bank, ICICI Bank, Hindalco, Reliance Industries and Wipro.
The Sensex might face some resistance at 20,800-20,900 and this is where short term traders can book profits, says Rahul Mohindar, technical analyst, on CNBC-TV18. He is positive about the key indices and says if one has to take fresh positions now, do so with strict stoplosses.
The Sensex had the biggest intra-day gain ever today, moving up nearly 950 points. The BSE 30-share index touched an intra-day high of 19,987 today. All 30 stocks of the index were up, the biggest gainers being HDFC Bank, Hindalco, ICICI Bank, Infosys, ONGC, Reliance Industries and Wipro.
The Sensex might face some resistance at 20,800-20,900 and this is where short term traders can book profits, says Rahul Mohindar, technical analyst, on CNBC-TV18. He is positive about the key indices and says if one has to take fresh positions now, do so with strict stoplosses.
The Sensex had the biggest intra-day gain ever today, moving up nearly 950 points. The BSE 30-share index touched an intra-day high of 19,987 today. All 30 stocks of the index were up, the biggest gainers being HDFC Bank, Hindalco, ICICI Bank, Infosys, ONGC, Reliance Industries and Wipro.
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