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Bears Took Charge | Buoyancy
Indian market shows advese sign on Friday, selling in noon trades cuts the all gain and momentum that market devloped during the session. Indian market started its day in positive nod with 264 points @ 9799 and later it touched intraday high levels of 9836. But as later trade continued it couldnot sustained and slipped into negative. Market closed it day in negative zone, Sensex lost 159.91 points and settled at 9385.42, while the broad-based NSE Nifty lost 38.10 points and closed its session at 2810.35 . Sectoral : Except FMCG index, which ended marginally in the green, all the BSE sectoral indices finished in red. Capital Goods and Auto indices were the top losers, shedding 4.2% and 4% respectively. ACC and Tata Motors were the top losers among sensex stocks, falling 9% and 8.5% respectively, while Bharti Airtel and Tata Power gained 3% and 2% respectively.
Asian Markets : All asian market closed in deep green, as on Thusday it was a great day in U.S. Japan Key index Nikkei 225 index closed in green for 223.75 points at 8462.39. Asia one of the premeir index Hang Sang closes green at 13542.66 up about 321 points. There was a Green Sign across Asia and Europe except India.
European Markets: All Euro Markets were closed in positive, mostly within a range of 1.5%. FTSE closed in green for 63.76 points at 4232.97 , DAX closed at 4710.24 gaining 60.72 points , CAC closed at 3291.47 gaining 22.01 points.
Weekly Closing : For the week, sensex and Nifty are down 5.81% and 5.47% respectively. Sensex ended its week with a fall of 578.87 points at 9,385.42, while NSE Nifty ended its week in down channel with a fall of 162.65 points at 2,810.35 in the same period. Mid-cap index plunged 139.3 points, or 4.15%, to 3,216.08 in the week, while small-cap index lost 135.05 points, or 3.46%, to 3,765.05 during the week. None of the BSE sectoral indices managed to close in green, while Realty and Capital Goods indices were the top losers, down 14.14%% and 8.96% respectively week-on-week.
Political uncertainty ahead of state elections, uncertainty about a US Treasury plan to forgo buying bad mortgage-related investments to buy stakes in US lenders and caution ahead of a meeting of G20 political leaders, pulled the market lower in what was a choppy trading session.
Indian Market saw a huge declined due to selling pressure from HNI's and Retails Investors who are on cautions on the possible recession on world economy. Market opned on downside on the mixed global cues later it overwhelmed by the bears and as the day progressed it turned from bad to worse. Todays mayhem came as dampener for those who believed that two-day rally would continue. The 30-share index, BSE Sensex opened with a loss of 238.13 points, at 11,245.27. After breaking 11000 mark and touching the day's low of 10,760, the market moved within a range with a negative bias At the end of the day sensex had plunged by 674.28 points, or 5.87% at 10,809.12 after touching a high of 11,257.15 and a low of 10,760.33 while the broad-based NSE Nifty declined 180.25 points, or 5.12% at 3,338.40 after hitting a high of 3,518.50 and a low of 3,324.55. BSE Midcap and Smallcap index plunged over 4% each
Sectoral : All the 13 sectoral indices finished in red. BSE capital goods and consumer durables saw the sharpest fall down 8.8% each, while BSE Metal ( 7.82% ) , BSE Teck , BSE Power ( 6% ) , BSE IT ( 5.43% ) , BSE Oil & Gas ( 5.15% ) were down over 5-7% each. Not even a single sensex stock managed to close in the green, While JP Associate and R comm. Were the top losers, down 14% and 12% respectively.
Results : During the Market hours Engineering & Construction major Larsen & Toubro (L&T) , announces its quarterly result for FY2008-2009 Q2 Sept08, registered a substantial rise in its standalone net profit, but failed to meet analysts expectation. During the quarter, the profit of the company climbed 32.25% to Rs 4,602.60 million from Rs 3,480.20 million in the same quarter, previous year.
HCL Technologies reported a small decline in its standalone net profit for the first quarter ended September 2008. During the quarter, the profit of the company declined 3.93% to Rs 2,537.90 million from Rs 2,641.70 million in the same quarter, previous year. Net sales for the quarter rose 6.61% to Rs 11,758.00 million, while total income for the quarter rose 6.94% to Rs 12,256.60 million, when compared with the prior year period. The company posted earnings of Rs 3.80 a share during the quarter, registering 4.52% decline over previous year period.
The Reserve Bank of India on Wednesday cut the Cash Reserve Ratio (CRR) further by 100 basis points to 6.5 per cent of NDTL with effect from the current reporting fortnight that began on October 11, 2008. This measure will release additional liquidity into the system of the order of Rs.40,000 crore.
Trade Log for October 15 , 2008
- Buy TATA COMM @ 508.25 sl 505 target 513 -515 - Exited @ tgt2. Made Profit of Rs6.75/share. If traded with 150 shares, then profit is Rs. 1012/trade
- Buy Bank Baroda @ 314.2 sl 310 -309 target 318 - 322 - Exited before tgt1 @ 316.20 . Made profit Rs.2/share. If traded with 150 share, then profit is Rs. 300/trade
- Short Sell BHEL @ 1395 sl 1412 target 1345. - Exited @ 1370. Made profit of Rs 25/share. IF traded with 100 share, then profit Rs. 2500/trade
- Buy SBIN @ 1512.00 sl 1507 target 1520 - 1525. - SL triggred, If traded with 100 share, then loss of Rs. 500/trade
- Buy Infosys Tech @ 1318 - sl 1309 target 1335 - Exited @ tgt. Made profit of Rs17/share. If traded with 50 share, then profit of Rs. 850/trade
- Buy Rel Infra @ 552 sl 545 target 559. - Exited @ target. Made profit of Rs.7/share. IF traded with 100share, then profit of Rs.700/trade.
Profit: Tata Comm - Rs1012/trade , BankBaroda - Rs300/trade , BHEL - Rs2500/trade , Infosys - Rs850/trade , Rel Infra - Rs700/trade.
Loss: SBIN - Rs500/trade.
Approx Profit for 15-10-2008 : Rs. 4862/trade
****** All Qty mentioned here is our suggested qty, that we mentioned in our Trading SMS with each call..
Links to This Week Performance Report ( 13-10-2008 to 17-10-2008)
Trade Performance for 13-10-2008
Trade Performance for 14-10-2008
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