Friday, October 05, 2007

My Morning Call on IFB Agro Ltd saw it hit the buyer freeeze:Nagpur Power and Industries Ltd hits the third consecutive buyer freeze:Ranbaxy Laboratories Ltd completes the first target and what is the second target???? Ask the Premium Group members..!!!!..: Phoenix International Ltd doing well today: Kamanwala Housing and Construction Ltd is also expected to do well in the days to come: The hotel scrips should do well as some of the FIIs are actively looking at the seclect few like Advani Hotels etc. Keep buying H S India Ltd (Hotel Silver Ltd. BSE Code-->532145) at the CMP of Rs.17.2:Avoid Pharma Companies, since rupee appreciation could hit them badly.The skewed governmment policies are already hitting the pharma sector on the knees. In Lupin Labs Ltd, a reputed Bull is holding some shares and hence what to do....:Conart Engineers Ltd will be the stock for tomorrow..:
The market opened on a positive note, taking global cues. Volatility persisted, with the market snapping its initial gains to trade in red for a short while before gaining ground once again. Reliance Industries hit an all-time high in early trade. Asian markets were mixed. The overnigh US markets ended marginally positive. At 10:26 IST, the BSE 30-share Sensex was up 56.68 points, or 0.34%, to 17,836.98 points in early trade. It opened with a gap of 54.54 points at 17,831.68, and touched a high of 17,913.36 and a low of 17,765.38 in early trade. The S&P CNX Nifty was up 0.95 points, or 0.02%, to 5,209.60. It had hit a high of 5,246.80 in early trade. Of the 30 shares of the Sensex, eight had moved up, while the remaining were trading down. The market breadth was even on BSE: 1,055 scrips had advanced, 1,045 declined, while 796 remained unchanged. The BSE Mid-Cap index was up 26.62 points, or 0.35%, to 7,602.89, and the BSE Small-Cap index advanced 50.24 points, or 0.55%, to 9,192.16. Thus, both the indices had outpeformed the market. Two-wheeler manufacturer Bajaj Auto rose 1.45% to Rs 2,617 and was the top gainer among the Sensex pack. Other Sensex gainers included Reliance Communications (up 1.34% to Rs 642.90), Bhel (up 1.21% to Rs 2,117), HDFC (up 1.14% to Rs 2,523) and State Bank of India (up 1.09% to Rs 1,921). Ambuja Cement was down 0.88% to Rs 146 and was the top loser among the Sensex constituents. Tata Motors (down 0.83% to Rs 792), TCS (down 0.8% to Rs 1,070), Cipla (down 0.79% to Rs 187.55) and ICICI Bank (down 0.79% to Rs 1,053) were the other losers from Sensex pack. The largest privete sector company and oil refiner Reliance Industries rose 1.81% to Rs 2466.30.It hit an all-time high of Rs 2,539 today. Power Grid Corporation of India was trading at Rs 100 on BSE on its debut, a premium of 92.31% over the IPO price of Rs 52. Hexaware Technologies had jumped 3.59% to Rs 125.65 on BSE after securing a large order from a leading German financial institution to upgrade its technology. Ashapura Minechem rose 1.56% to Rs 498.90 after the company's wholly owned subsidiary Ashapura Minechem (UAE) FZE in UAE approved the setting up of a joint venture company with Alawi Enterprises LLC, Oman (in the ratio of 60 :40). Asian markets, which opened before the Indian markets, were trading mixed today. Taiwan's Taiwan Weighted (down 0.26% to 9,602.53) and Japan's Nikkei (down 0.01% at 17,091.86) were weak. Hong Kong’s Hang Seng (up 2.02% to 27,519.97) and Singapore's Straits Times (up 0.6% to 3,806.54) edged higher. American markets rose marginally on Thursday, 4 October 2007. The Dow Jones Industrial Average index ended up 6.26 points to 13,974.31 points and Nasdaq up 4.14 points to 2,733.57. US stocks barely rose on Thursday as investors shied away from making big bets before the release of the jobs data on Friday, 5 October 2007, to shed light on the economy and the outlook for interest rates. The American earnings season goes in full force in another one week. Provisionally, as per NSE data, foreign institutional investors (FIIs) were net buyers of Rs 457.28-crore equities, while domestic institutional investors (DII) were net sellers of Rs 663.9-crore equities on Thursday, 4 October 2007. The market snapped its 10-day winning streak on 4 October 2007 as the Sensex ended down 69.90 points, or 0.39%, to 17,777.14 points. The S&P CNX Nifty closed lower 2.15 points, or 0.04%, to 5,208.65. It had touched a low of 5,126.05 in mid-afternoon trade. The market had been on a roll with the Sensex hitting a record high in trading sessions from 19 September 2007 to 3 October 2007. Heavy FII buying and hopes of a further cut in interest rates by the US Federal Reserve at its next policy meeting on 30-31 October 2007 had boosted the bourses. From a low of 13,989.11 on 21 August 2007, the Sensex galloped a whopping 3,857.93 points, or 27.57%, to 17,847.04 on Wednesday, 3 October 2007.
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