Indian stock market (NSE,BSE) trend, news and analysis

[Hariprasad]

I have started this thread to monitor/analyze the general trends in the Indian stock market. I hope this will be helpful to common abduls like me who are just getting their feet wet.

http://www.nseindia.com/
http://www.bseindia.com/

[Hariprasad]

Nifty ends lower;banks,oil&gas,capital goods down
MUMBAI: Indian markets ended directionless day of trade on a sluggish note for second consecutive day due to lack of buying from institutional investors.

According to experts, the market is expected to remain volatile and take cues from IIP data, EGoM meet on oil prices and other global factors for next move.

The EGoM meeting to consider raising fuel prices this week has been deferred. According to reports, the government may hike diesel prices by Rs 4 per litre. This move is likely to increase inflationary pressure.

"Under current prices, it is a challenging environment that we are in. You have issues on inflation, interest rates and on the domestic side, and globally you have issues on currencies and commodity prices and how that affects the FII flow into the country.

Valuation-wise we factored in all the possible negatives for the next six months. It looks like that we are slightly over valued or at best fair valued," said Krishna Kumar Karwa, MD & CFO, Emkay Global Financial Services to ET Now.

Bombay Stock Exchange's Sensex was at 18512.77, down 16.19 points or 0.09 per cent. The 30-share index hit a high of 18689.37 and low of 18429.06 intraday.

National Stock Exchange's Nifty ended at 5541.25, down 9.85 points or 0.18 per cent. The broader index touched a high of 5592.90 and low of 5514.55 in trade today.

"Earlier we were in the range of 5500 to 5900, twice thrice it has happened that we have not been able to go beyond 5900-5950. Now after the deep cut of the last 10-15 days, we have gone into a lower range and then the range looks like 5400 to may be 5600-5700," he added.

BSE Midcap Index was down 0.04 per cent and BSE Smallcap Index moved 0.25 per cent higher.

Amongst the sectoral indices, BSE FMCG Index was up 1.20 per cent, BSE Realty Index moved 1.12 per cent higher and BSE Power Index advanced 0.48 per cent. BSE Bankex was down 0.63 per cent, BSE Capital Goods declined 0.38 per cent and BSE Oil&gas slipped 0.32 per cent.

Sun Pharma (-2.07%), M&M (-1.84%), Ambuja Cement (-1.72%), Hero Honda (-1.70%) and HDFC Bank (-1.47%) were amongst the losers.

NTPC (4.63%), Hindustan Unilever (4.58%), Sterlite Industries (3.07%), Ranbaxy Laboratories (2.89%), and Jaiprakash Associates (2.48%) were the major Nifty gainers.

National Thermal Power Corporation posted consolidated net profit of Rs 9353.40 crores for the year ended March 2011 against Rs 8837.65 crores a year ago. Net sales were at Rs 57418.46 crores as compared to Rs 48256.41 crores.

"HUL's 4QFY11 were a pleasant surprise with volume growth of 14% and adspends moderating far more than expected (industry GRP declined ~16% as per management).

We upgrade HUL stock to ADD (SELL previously) as we find an improvement in business conditions and growing confidence in earnings. We are revising our target price to Rs 340 (Rs 255 previously) on roll-over to FY2013E estimates and assigning a multiple of 25X (22X previously)," said Kotak Securities report.

Market breadth was flat on the NSE with 1416 gainers against 1417 losers.

The European markets were witnessing buying activity and the stock futures indicated a similar start for the Wall Street. At 5:15 pm IST; Dow Jones futures was up 0.36 per cent, S&P 500 moved 0.45 per cent higher and Nasdaq gained 0.53 per cent.

http://economictimes.indiatimes.com/mar ... 221554.cms

[Hariprasad]

No major support levels in sight for Nifty

[Hariprasad]

Mods if this is not the right place can you please move this thread to GDF . Thanks.

[Airavat]

Post here:

Indian Investments Thread