Posts Tagged ‘auto stocks’

Nifty, Sensex at New Peak Ahead of Diwali :)

Nifty, Sensex at New Peak Ahead of Diwali

Nifty, Sensex at New Peak Ahead of Diwali

As China’s economy showed more signs of revival and weak dollar raises commodity stocks,  Global Stock Markets increased while the Sensex Index gained 204 points to close at 17,231.

🙂

However, on the NSE, the Nifty advanced 64 points to end at 5,118, its highest level since 16 May 2008 when it closed at 5,157.

Moreover, the BSE metal index increased 5.2%  while Sesa Goa rose nearly 14% and JSPL rose 8%.

Additionally, the BSE capital goods index was up 2.4% and the BSE auto index gained 2.3%.

🙂

In the Capital goods space, Punj Lloyd advanced 7.3%, Praj Industries rose 5.7% and Themax ended 4% higher.

Similarly, among the auto stocks, M&M, Bharat Forge and Exide Ind gained over 5% each.

In the Sensex pack, 25 stocks increased while 5 counters decreased.

M&M surged 6.1% to Rs 971 and Sterlite Ind, Hindalco and JP Associates were up over 5% each.

🙂

Moreover, RCom emerged as the top loser while the stock declined 6.5% to Rs 231 in the midst of reports that special auditor has pointed out that the company inflated revenues by
Rs 2,915 crore
in 2007-08 financial year.

Further, Bharti Airtel shed 3.2% while Reliance Infra fell 2.6% and previously, in Asia, China’s Shanghai index jumped 1.2% enhancing more by expectations for better corporate earnings for Q3.

On the other hand, Hong Kong’s Hang Seng rose 2% while Japan’s market was the region’s only major laggard with the Nikkei 225 stock average shedding 0.2% to 10,060.21 in the midst of a stronger yen.

In the meantime, the dollar resumed its slide, falling to a 14-month low against the euro pushing prices for commodities like oil and gold ever higher.

🙂

DAILY EQUITY UPDATE

Equity Update

17 Aug 2009

POST MARKET

The BSE Sensex closed lower by 626.71 points or (4.07%) at 14,784.92 and NSE Nifty ended down by 24.95 points at 4,580.05.

🙂

BSE Mid Caps and Small Caps closed with losses of 218.30 and 200.85 points at 5,385.51 and 6,211.71 respectively.

🙂

The BSE Sensex touched intraday high of 15,284.23 and intraday low of 14,740.63.

Among the Sensex pack all 30 stocks ended in red territory.

The market breadth indicating the overall health of the market remained negative as 1929 stocks closed in red while 674 stocks closed in green and 73 stocks remained unchanged in BSE.

🙂

The S&P CNX Nifty is down by 192.15 points or –4.20 % to 4387.90.

The NSE turnover was down Rs.15425.56 from last trading session’s Rs. 16421.25 crore.

NEWS UPDATES

-Six auto stocks fell on concerns the weak monsoon will slash spending in India’s agricultural regions.

-Fourteen metal stocks fell after LMEX, a gauge of six metals traded on the London Metal Exchange, fell 3.05% to 2,932.70 on 14 August 2009.

-Seven power sector shares fell on reports the power ministry is planning to cap the sale price of electricity sold in the open market if the projects claim tax benefits.

🙂

OUTLOOK

Market opened strongly in red & continued trading in negative zone throughout the day on the back of negative cues from the global indices.

International markets were trading strongly in red & remained in the same territory resultant selling pressure in across the board in our markets too.

Realty, Metal, Auto & Oil and gas got punished heavily.

😦

In the first half of session, we witnessed mixed movement as the market breadth was marginally on the down side but it declined very sharply below crucial support level of 4420 area.

😦

We expect index to hold 4340-4320 levels as the next crucial support zone with possibility of technical bounce in the next session.

🙂

Daily Equity Update

sector watch

*Realty & Metal are the major losers in today’s session 😦

DAILY EQUITY UPDATE 17 Aug 2009

POST MARKET

The BSE Sensex closed lower by 626.71 points or (4.07%) at 14,784.92 and NSE Nifty ended down by 24.95 points at 4,580.05. BSE Mid Caps and Small Caps closed with losses of 218.30 and 200.85 points at 5,385.51 and 6,211.71 respectively. The BSE Sensex touched intraday high of 15,284.23 and intraday low of 14,740.63.

Among the Sensex pack all 30 stocks ended in red territory. The market breadth indicating the overall health of the market remained negative as 1929 stocks closed in red while 674 stocks closed in green and 73 stocks remained unchanged in BSE. The S&P CNX Nifty is down by 192.15 points or –4.20 % to 4387.90.The NSE turnover was down Rs.15425.56 from last trading session’s Rs. 16421.25 crore.

NEWS UPDATES

-Six auto stocks fell on concerns the weak monsoon will slash spending in India’s agricultural regions.

-Fourteen metal stocks fell after LMEX, a gauge of six metals traded on the London Metal Exchange, fell 3.05% to 2,932.70 on 14 August 2009.

-Seven power sector shares fell on reports the power ministry is planning to cap the sale price of electricity sold in the open market if the projects claim tax benefits.

OUTLOOK

Market opened strongly in red & continued trading in negative zone throughout the day on the back of negative cues from the global indices.

International markets were trading strongly in red & remained in the same territory resultant selling pressure in across the board in our markets too.

Realty, Metal, Auto & Oil and gas got punished heavily.

In the first half of session, we witnessed mixed movement as the market breadth was marginally on the down side but it declined very sharply below crucial support level of 4420 area.

We expect index to hold 4340-4320 levels as the next crucial support zone with possibility of technical bounce in the next session.