4:50 PM - Fears of recession in the US kept Asian markets pinned down throughout the day. Indian market was no different and fell even below the lows of January at one point in time. Sensex closed at 15,357, down 770 points from the previous close. Nifty shut shop at 4623, down 248 points. The NSE 50-share index saw an intra-day low of 4580 today. CNX Midcap lost 5.7%, and BSE Smallcap index, 5.4%. Realty and metal stocks saw tremendous amount of selling, along with consumer durables and power stocks. Market breadth was extremely weak, with 83 advances against 1,162 declines on the NSE. The biggest losers on the Sensex include DLF, REL, Hindalco and Tata Steel, while HUL gained. » Send to friends
4:44 PM - Balrampur Chini is certainly a buy at current levels, at least for the short term, says Sudarshan Sukhani, technical analyst, on CNBC-TV18. The downside risk here is limited and even a small rally in the market can take it to Rs 91-92, he explains. It is at Rs 83.30, down over 10% on the BSE. » Send to friends
4:34 PM - Investors should now look at shifting to stocks related to consumption and select IT stocks, says Apurva Shah of Prabhudas Lilladher, on CNBC-TV18. From a slightly longer term perspective, the brokerage is still bullish on infrastructure and power equipment companies, he adds. » Send to friends
4:28 PM - Punj Lloyd has a target of Rs 450, says Shishir Kedia, technical analyst with Religare Securities, on NDTV Profit. But it might face some resistance at Rs 390 and one can maintain a stop loss at Rs 270, he says. The stock is at Rs 324.80, down 6.3% on the BSE. » Send to friends
4:21 PM - The market witnessed a carnage today. Not only did bad global cues keep the market pinned down, but lack of participation pulled it even lower. Sensex had a disappointing close at 15,350, down 777 points (provisional) from the previous close. It was the lowest closing for the index since August 31, 2007. Nifty shut shop at 4625, down 246 points (provisional). This was the lowest closing for the Nifty since September 18, 2007. Realty, metal and power stocks were beaten up the most. » Send to friends
4:16 PM - Infosys has a target of Rs 1,750, says Shishir Kedia, technical analyst with Religare Securities, on NDTV Profit. The stock has resistance at Rs 1,500 and support at Rs 1,250, he says. The stock is at Rs 1,330, down 3.9% on the BSE. » Send to friends
4:11 PM - Dealers say there have been absoluetly no buying coming in for almost the last two hours, reports NDTV Profit. But selling was done by HNIs in largecaps. Analysts now fear redemption pressure on funds. » Send to friends
4:03 PM - Traders are now selling dollars and buying oil, says Victor Shum of Purvin & Gertz, on CNBC-TV18. Oil is now at a price bubble point with potential for a correction in Q2CY08, he adds. » Send to friends
3:55 PM - If the Nifty closes above 4620, then there can be some hope, but the risk element would still be very high, says Sudhanshu Pandey, technical analyst with LKP Shares, on NDTV Profit. » Send to friends
3:48 PM - Things have gone from bad to worse, says Sudhanshu Pandey, technical analyst with LKP Shares, on NDTV Profit. The Nifty can go down to 4100-4200 within this month itself, he adds. » Send to friends
3:41 PM - Punj Lloyd looks like a good buy at current levels, says Deven Choksey of KR Choksey Securities, on CNBC-TV18. It looks positive valuation-wise and has good visibilty in earnings, he explains. The stock is currently trading at Rs 321.40, down 7.3% on the BSE. » Send to friends
3:34 PM - Another 15-20% decline from the current levels in realty stocks cannot be ruled out, says Vijay Bhambwani, technical analyst, on CNBC-TV18. BSE Realty index is currently down 9.8%. » Send to friends
3:27 PM - This is a good time to shop for 5-10% of your target quantity in the market, says Rajesh Jain, CEO & Director, Pranav Securities, on NDTV Profit. If, contrary to what most experts are saying, the market does not fall further, you should not feel that you missed the bus, he explains. » Send to friends
3:20 PM - The worst is not yet over, as the market still lacks convinction, even at lower levels, says Vijay Bhambwani, technical analyst, on CNBC-TV18. The Nifty could possibly go down to 4400 or even lower, he adds. One can look at 4365 as the next support level for the market then, he says. On the upside, it may face resistance between 4750-4790, he says. » Send to friends
3:12 PM - One can look at exiting RNRL at Rs 125-130, says Rajesh Jain of SMC Global, on CNBC Awaaz.The stock is currently trading at Rs 106.30, down 9.2% on the BSE. » Send to friends
3:05 PM - The market continues to witness selling pressure, with no major buying in sight! Sensex is currently trading at 15,429, down 698 points from the previous close. Nifty is at 4642, down 229 points. Market breadth is extremely weak, with NSE advance-decline ratio is at 1:16. » Send to friends
3:00 PM - IFCI has support at Rs 45-40, says Rajesh Jain of SMC Global, on CNBC Awaaz. It is advisable to exit the stock at Rs 58-60, he says. It is currently trading at Rs 49.75, down 8.7% on the BSE. » Send to friends
2:53 PM - The Sensex may test 15,330 before it starts moving up again, say dealers, reports NDTV Profit. Nifty may lose another 80-100 points tommorrow, they add. » Send to friends
2:46 PM - GVK Power is a good pick for the long term; 1-2 years, says Ashish Kukreja of Unicon Investment Solutions, on CNBC Awaaz. It can give 50-100% returns from the current levels, he adds. The stock is currently trading at Rs 40.25, down 3.7% on the BSE. » Send to friends
2:40 PM - IFCI has support at Rs 47, which should also be the stoploss for long term investors, says Hitendra Vasudeo, technical anlayst, on CNBC Awaaz. It will face resistance at Rs 58-59,he adds. The stock is currently trading at Rs 49.95, down 8.4% on the BSE. » Send to friends
2:33 PM - Yen has breached 100 per dollar mark, for the first time since 1995, reports NDTV Profit. Analysts believe this could trigger carry trade unwinding. Carry trade is an arbitrage strategy, where you buy a high interest yielding currency and sell a low yielding currency, which allows you to earn the difference in the interest rates. » Send to friends
2:25 PM - It is important for Ispat Industries to cross Rs 41 for reversal of trend, says Hitendra Vasudeo, technical analyst, on CNBC Awaaz. The stock has support at Rs 30-28 now, he adds. It is currently trading at Rs 33, down 7.6% on the BSE. » Send to friends
2:18 PM - The Sensex may find temporary support between 15,500 and 15,300, says Hitendra Vasudeo, technical analyst, on CNBC Awaaz. If this is broken, it can fall to 14,500, he adds. But if it can cross 16,683, then this fall can be arrested, he says. » Send to friends
2:11 PM - Bombay Dyeing has support at Rs 500, which if broken, can be a cause of worry here, says MB Singh, technical analyst, on Zee Business. The stock is currently trading at Rs 615.80, down 3.9% on the BSE. » Send to friends
2:05 PM - Asian markets have closed weak for the day and European opened lower. This dampened sentiments in the Indian stock market further. Market experts are now eyeing the support level of 4620 for the Nifty, which is currently trading at 4684, down 187 points. Sensex is at 15,543, down 584 points from the previous close. The BSE 30-share index has touched an intra-day low of 15,394 in trade so far. Realty, metal, consumer durables and capital goods stocks are witnessing tremendous selling pressure. » Send to friends
1:59 PM - Market experts see support coming in for the Nifty at 4620 now, reports CNBC-TV18. But if this gets broken, then the next support level will be at 4550, they say. They suggest closing long positions at 4600 levels on the Nifty. If 4600 is breached, then more shorts would open, they say. The Nifty might face resistance at 4730 now. » Send to friends
1:52 PM - One can look at averaging in Allahabad Bank close to Rs 65-70, says MB Singh, technical analyst, on Zee Business. The stock is currently trading at Rs 89.85, down 5.4% on the BSE. » Send to friends
1:46 PM - Tata Steel has a target of Rs 950 in 10-12 months, says Shishir Kedia, technical analyst with Religare Securities, on NDTV Profit. The stock has resistance at Rs 750 and support at Rs 680, he says. The stock is currently trading at Rs 736, down 3.97% on the BSE. » Send to friends
1:38 PM - BHEL has a target price of Rs 2,600 in 9 months, says Rajesh Agarwal of CD Equisearch, on CNBC Awaaz. The stock is currently trading at Rs 1,918, down 4.8% on the BSE. » Send to friends
1:31 PM - Tata Tele will recover once the market starts moving up, says MB Singh, technical analyst, on Zee Business. But keeping a stoploss at Rs 25-26 is important now, he adds. If you hold the stock, then continue to do so, but with the stoploss, he suggests. It is currently trading at Rs 30.30, down 6.2% on the BSE. » Send to friends
1:23 PM - Reliance Capital has a target of Rs 1850 in 10-12 months, says Shishir Kedia, technical analyst with Religare Securities, on NDTV Profit. The stock has resistance at Rs 1550 and one can buy more stock at Rs 1150 for the long term, he says. The stock is currently trading at Rs 1329, down 7.99% on the BSE. » Send to friends
1:17 PM - Below Rs 110, Rajesh Exports looks weak on the charts, says MB Singh, technical analyst, on Zee Business. In a falling market, it can fall further to Rs 80, he adds. Exit the counter at any rise, he suggests. The stock is currently trading at Rs 97.90, down 4.3% on the BSE. » Send to friends
1:11 PM - GMR Infra has support at Rs 135 and resistance at Rs 190-195, says Nitesh Chand, technical analyst, on Zee Business. The stock is trading at Rs 151, down 5.30% on the BSE. » Send to friends
1:04 PM - The market is witnessing significant selling pressure on back on weak global cues and is trading close to the day's lows. Sensex is currently trading at 15,502, down 625 points from the previous close. Nifty is at 4667, down 204 points. CNX Midcap index is down 4.4% and BSE Smallcap index, down 3.9%. All sectoral indices are trading lower, that of realty, capital goods, metal and power being hit the most. » Send to friends
12:59 PM - Bajaj Hindustan has resistance at Rs 270 and if that is crossed the stock can go to Rs 320, says Shishir Kedia, technical analyst with Religare Securities, on NDTV Profit. The stock has support at Rs 200 but if that breaks it could go down to Rs 150, he says. The stock is currently trading at Rs 231, up 0.63% on the BSE. » Send to friends
12:54 PM - Indiabulls Finance has a target of Rs 650, says Ashwani Gujral, technical analyst, on CNBC Awaaz. One can stay invested for the long term in this, he says. The stock is currently trading at Rs 505, down 5.1% on the BSE. » Send to friends
12:50 PM - Deccan Aviation has received government clearance to operate flights overseas from August 26, reports NDTV Profit. The stock is currently trading at Rs 135, down 2.96% on the BSE. » Send to friends
12:46 PM - The market is at the day's low, Sensex has slipped below 15500 and Nifty briefly, below 4650. Sensex is currently trading at 15481, down 646 points and Nifty is at 4660, down 211 points from the previous close. » Send to friends
12:41 PM - Purvankara Projects has a target price of Rs 410 once it crosses Rs 330, says Shishir Kedia, technical analyst with Religare Securities, on NDTV Profit. The stock has support at Rs 285 but if that breaks it could go down to Rs 250, he says. The stock is currently trading at Rs 293, down 1.61% on the BSE. » Send to friends
12:35 PM - The market re-opens after sun outage and Sensex is down 600 points and Nifty down 200 points. Sensex is trading at 15500, down 627 points. Nifty is trading at 4664, down 207 points from the previous close. The CNX Midcaps index is down 3.73% and BSE Smallcaps index is down 3.22%. The market breadth is negative with advances at 107 against declines of 1102 on the NSE. » Send to friends
12:31 PM - NTPC has a target of Rs 290 in 12-18 months, says Ashwani Gujral, technical analyst, on CNBC Awaaz. One can exit the stock in any rally and re-enter it on declines, he says. The stock is currently trading at Rs 186, down 4.1% on the BSE. » Send to friends
12:24 PM - The market is likely to be rangebound now, says Raamdeo Agarwal, MD, Motilal Oswal Securities, on CNBC TV18. The IIP numbers are disappointing, showing the first signs of a slowdown in the economy, he says. But one can expect FY09 Sensex growth at 20% and GDP growth at 8-8.5%, he says. Valuations are looking attractive for many stocks and one can accumulate them in the portfolio for the long term, he adds. » Send to friends
12:15 PM - JP Associates has a target price of Rs 350 in 12-18 months, says Shishir Kedia, technical analyst with Religare Securities, on NDTV Profit. The stock has resistance at Rs 275 and support at Rs 200 where one can buy more stock for the long term, he says. The stock is currently trading at Rs 230, down 6.58% on the BSE. » Send to friends
12:07 PM - The liquidity crunch and higher oil prices are causing the decline in the dollar, says Moses Harding, executive vice-president, IndusInd Bank, on NDTV Profit. Dollar may see another downside of 1-2%, he says. The dollar index is against a record low against a basket of 6 currencies, he says. Dollar is at a 12-year low against the Yen which has hit 100/$. » Send to friends
11:57 AM - BoI has a target price of Rs 350 in three months, says Rajesh Agarwal of CD Equisearch, on Zee Business. The stock is currently trading at Rs 271, up 3.8% on the BSE. » Send to friends
11:52 AM - The pre-sun outage figures for the market are, Sensex at 15536, down 591 points and Nifty at 4681, down 190 points from the previous close. The CNX Midcaps index is down 3.41% and BSE Smallcaps index is down 3.14%. The market breadth is negative with advances at 117 against declines of 1087. » Send to friends
11:49 AM - The market will be closed for sun outage from 11.45am and resume trading at 12.30pm. Market closes today at 4.15pm. The market will be affected by the sun outage till March 18. » Send to friends
11:44 AM - HDIL has resistance at Rs 750 and support at Rs 680, says Shishir Kedia, technical analyst with Religare Securities, on NDTV Profit. One can buy more stock at Rs 580 for the long term, he says. The stock is currently trading at Rs 652, down 8.05% on the BSE. » Send to friends
11:32 AM - BHEL has resistance at Rs 2330 and support at Rs 1800, says Ashwani Gujral, technical analyst, on CNBC Awaaz. One can book partial profits in any rally, he says. The stock is currently trading at Rs 1918, down 4.8% on the BSE. » Send to friends
11:22 AM - Prabhudas Liladhar has a target price of Rs 467 for Punj Lloyd, reports CNBC TV18. The stock is currently trading at Rs 334, down 3.56% on the BSE. » Send to friends
11:11 AM - IT stocks are still looking weak and Wipro has support at Rs 330-350 and resistance at Rs 425-440, says Nitesh Chand, technical analyst, on Zee Business. The stock seems to be in a consolidation phase and is trading at Rs 381, down 2.21% on the BSE. » Send to friends
11:01 AM - The banking system is expected to be reimbursed in 3 years, says Ashvin Parekh, financial services, E&Y, on NDTV Profit. It is heartening to know government intends funding the waiver, he says. The Rs 10,000 package to be utilized in a phased manner, he adds. Balance sheet management will be critical for banks, he says. » Send to friends
10:53 AM - Emkay has a target price of Rs 1600 for ICICI Bank, reports CNBC TV18. The stock is currently trading at Rs 846.4 on the BSE. » Send to friends
10:46 AM - The market is unable to recover from a bad opening. Weak global cues add to the pain. Sensex is trading at 15583, down 554 points. Nifty is trading at 4696, down 175 points from the previous close. The CNX Midcaps index is down 2.91% and BSE Smallcaps index is down 0.32%. The market breadth is negative with advances at 113 against declines of 1012 on the NSE. » Send to friends
10:36 AM - If Wipro goes to Rs 384 one can book profits and exit this stock, says Hemen Kapadia, technical analyst, on Zee Business. The stock is currently trading at Rs 381, down 2.21% on the BSE. » Send to friends
10:27 AM - Market is in a consolidation phase and is not likely to break 15500 on the Sensex, says Lalit Thakkar of Angel Broking, on NDTV Profit. FY10 earnings are expected to grow by 25% (YoY), he says. The market is unlikely to see any correction at current levels and likely to be rangebound in the near term, he adds. Pharma and IT sectors look attractive, he says. » Send to friends
10:19 AM - Angel Broking has a target price of Rs 80 for Excide India, reports CNBC TV18. The stock is currently trading at Rs 66.80, down 1.18% on the BSE. » Send to friends
10:09 AM - V-Guard lists at Rs 84 against issue price of Rs 82. The company expects to see recurring profits of Rs 40 crore for FY09 and an EPS of Rs 13.42, says PGR Prasad, chairman of the company, on CNBC TV18. The stock is currently trading at Rs 87, up 7.38% on the BSE. » Send to friends
10:00 AM - The Asian markets are trading in the negative. The Indian market sees a bad opening. Sensex is trading at 15641, down 486 points. Nifty is trading at 4733, down 138 points from the previous close. The CNX Midcaps index is down 3% and BSE Smallcaps index is down 1.8%. » Send to friends
9:52 AM - The NDTV Opinion Poll sees a negative opening with scattered buying in the market. It will be important to watch for 4800 on a closing basis for Nifty. The stocks to watch out for today are Reliance Capital, Bajaj Hindustan and Cairn India. » Send to friends
9:44 AM - The market is likely to remain volatile due to many uncertain news, says Srikant Chouhan, technical analyst, Kotak Securities, on NDTV Profit. The market needs clarification on bank loan waiver, Fed meet and nuclear deal, he says. The levels to watch now are 4800 for Nifty and 16000 on Sensex and if these break one could see 4650 on Nifty and 15700 on Sensex, he adds. » Send to friends
No comments:
Post a Comment