SENSEX closed the day at 17707.32 gaining 84.87 (0.48%)
NIFTY ended at 5368.15 adding 33.00 (0.62%) points
CNX Midcap closed at 7435.50 adding 80.35 (1.09%) while BSE Smallcap last traded at 6812.15 up 60.17 (0.89%)
Add commentFebruary 8th, 2012
Stock markets have taken a bit off after a stellar 5-day run.
The SENSEX closed at 17622.45 slipping 84.86 (-0.48%) while NIFTY closed at 5335.15 dropping 26.50 (-0.49%) points. As one can anticipate, the Midcap and Smallcap stocks took a cautious reversal of course with the CNX Midcap getting down to 7355.15 after slipping 78.80 (-1.06%) points while the BSE Smallcap closed at 6751.98 down 29.95 (-0.44%).
Experts however say that the party is not over yet since the markets are still over the 200-day average.
RBI said that Manappuram Finance is not permitted to accept/renew deposits from public. The script took a beating and has at one point hit the lower circuit. It ended at Rs. 45.15 down Rs. 11.25 (-19.95%) with a volume of 26.71m shares traded.
ICICI Direct Top picks
ICICI Direct has given some top picks in its research report dated Feb 6, 2012
Orient Paper & Industries - Target price: Rs. 71
Biocon- Target price: Rs. 366
Motherson Sumi – Target price: Rs. 171
JK Tyre – Target price: Rs. 88
Oil India – Target price: Rs. 1490
Navneet Publications – Target price: Rs. 65
DB Corp – Target price: Rs. 230
Bharti Airtel – Target price: Rs. 450
Dish TV – Target price: Rs. 71
Bank of Baroda – Target price: Rs. 954
Dena Bank – Target price: Rs. 84
Simplex Infrastructure – Target price: Rs. 285
Add commentFebruary 7th, 2012
The Nifty party continued with the all eyes now eagerly waiting to see how the index will behave once it gets closer to 5400 mark.
The SENSEX closed the day at 17707.31 gaining 102.35 (0.58%) points while the NIFTY closed at 5361.65 adding 35.80 (0.67%). In fact, much of the upward move was by the midcap and small cap stocks. The CNX Midcap closed at 7433.95 gaining 109.80 (1.5%) while the BSE Smallcap closed at 6781.93 gaining 95.38 (1.43%).
With this upbeat move, this is the 5th straight trading session that the markets have closed in the green. Will the party continue? or it is time to press the panic button?
Experts seem to be having mixed views on this. While most of them say that the 5400 is a territory that calls for a small correction before the markets again make a comeback, some feel that there is still some more time.
Spicejet posts Q3 loss at Rs 39cr on high fuel cost.
Volumes, price hike push HUL Q3 net up 18% YoY.
SKS Microfinance secruritised Rs 243 cr non-AP loan portfolio. The script is up at Rs. 98.45 up Rs. 8.95 (10%).
The Economic Times quoted that LIC may bail out fund-starved banks. Dena Bank and Syndicate Bank amongst first to sell shares to LIC. Dena Bank is up at Rs. 79.85 gaining Rs. 6.40 (8.71%) with a volume of 15.36m shares.
Venus Remedies gets patent for research product Vancoplus in Japan. The script is up at Rs. 194.30 gaining Rs. 21.45 (12.41%).
Add commentFebruary 6th, 2012
The Indian markets continued to hold the 5200 mark of the Nifty. The markets however are choppy. With the Supreme Court giving its verdict cancelling 122 telecom licenses, telecom and banking stocks have got a shocker. However, Idea and Bharti stocks took it as a positive.
Post-noon, the markets had an upward run to close the day in the green.
SENSEX closed at 17431.85 gaining 131.27 (0.76%) points while the NIFTY appears to be now heading towards the 5400 mark. It closed at 5269.90 gaining 34.20 (0.65%) yesterday.
CNX Midcap closed at 7225.90 gaining 37.50 (0.52%) while the BSE Smallcap closed at 6608.97 gaining 35.39 (0.54%).
Add commentFebruary 2nd, 2012
The Indian stock markets had yet another stellar rally today after the markets decided that Nifty extend its stay at the critical 5200 region. The SENSEX closed at 17300.58 gaining 107.03 (0.62%) while the NIFTY reaffirmed its position and closed at 5235.70 gaining 36.45 (0.70%) points. With this, the immediate pull back is ruled out unless 5300 or even may be 5400 is touched, atleast as per technical charts.
The CNX Midcap closed at 7188.40 gaining 87.85 (1.24%) and the BSE Smallcap ended at 6573.58 adding 110.28 (1.71%) points in trade today. Some experts say that much better longs are building in the midcap space now and that this is the reason for the longer stay of the markets in the stable region.
Of course, not all credit is to the Indian markets. The global economy in general is stable with no specific negative news. The Europe supported well and so did US markets. In fact, this is one of the strong reason why the Indian market closed in the positive. There is indeed volatility in our markets but the actual conquering and cementing its stay in the positive territory was made possible for the Indian markets only after the European markets have opened.
Mahindra Satyam announced good set of Q3 numbers. CP Gurnani gave the credit to BFSI projects and the rupee depreciation helped. The results came out after the markets have closed. Hence, we can expect some positive move in the script tomorrow.
Auto sales numbers have come and they appear to be good. Except for the decline in the tractor numbers of M&M, the sales figures of Tata Motors and Maruti are nice.
The Economic Times was reporting that Core Projects leads race to acquire Aptech. Aptech closed at Rs. 90.45 gaining 2.80 (3.19%) with a volume of 40.65k shares traded.
Carlyle sold 2 cr shares of HDFC at Rs 677/share on the BSE. HDFC was under pressure today and closed at Rs. 688.90 down Rs. 8.95 (-1.28%) with a volume of 4.96m shares traded.
Add commentFebruary 1st, 2012
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