Market Outlook 22nd September 2011
Market Outlook 22nd September 2011
Market Outlook 22nd September 2011
India Research
September 22, 2011
Dealers Diary
The key benchmark indices nudged higher in early trade as most Asian stocks rose and swung between gains and losses later. The market slipped into the red to hit a fresh intraday low in morning trade, reversing direction after hitting a 1.5-week high, and then alternately moved between the positive and negative terrain in mid-morning trade. A bout of volatility was witnessed in early afternoon trade as the key benchmark indices alternately swung between the positive and negative zone. The market recovered after hitting a fresh intraday low in early afternoon trade but once again weakened in mid-afternoon trade on eurozone debt worries. The key benchmark indices nudged lower amid intraday volatility on eurozone debt worries, with the Sensex and Nifty closing down by 0.2% and 0.1%, respectively. A rally in a number of side counters was the highlight of the day's trading session. The mid-cap and small-cap indices closed up by 0.7% each. Among the front runners, ICICI Bank, Jaiprakash Associates, Coal India, Wipro and SBI gained 12%, while Hero MotoCorp, Hindalco Industries, Maruti Suzuki, RIL and Bajaj Auto lost 13%. Among mid caps, Prism Cement, Strides Arcolab, Glodyne Technoserve, Bajaj Hindustan and JSL gained 713%, while Responsive Industries, Himadri Chemicals, Rajesh Exports, India Infoline and A2Z Maintenance and Engineering lost 25%.
Domestic Indices BSE Sensex Nifty MID CAP SMALL CAP BSE HC BSE PSU BANKEX AUTO METAL OIL & GAS BSE IT Global Indices Dow Jones NASDAQ FTSE Nikkei Hang Seng Straits Times Shanghai Com
Chg (%) (0.2) (0.1) 0.7 0.7 0.3 0.5 1.0 (0.9) (0.3) (1.2) (0.3) Chg (%) (2.5) (2.0) (1.4) 0.2 (1.0) 0.4 2.7
(Pts) (7.0) 47.1 51.8 18.4 38.6 (81.4) (102.3) (13.4) (Pts) (52.1) (75.3) 19.9 11.0 65.2
(Close) 5,133 6,476 7,352 6,014 7,759 8,899 8,742 5,203 (Close) 2,538 5,288 8,741 2,792 2,513
(34.1) 17,065
(283.8) 11,125
Markets Today
The trend deciding level for the day is 17,086/5,137 levels. If Nifty trades above this level during the first half-an-hour of trade then we may witness a further rally up to 17,17117,276/5,1645,196 levels. However, if Nifty trades below 17,086/5,137 levels for the first half-an-hour of trade then it may correct up to 16,98016,895/5,1065,079 levels.
Indices SENSEX NIFTY S2 16,895 5,079 S1 16,980 5,106 R1 17,171 5,164 R2 17,276 5,196
(190.6) 18,824
Indian ADRs Infosys Wipro ICICI Bank HDFC Bank Advances / Declines Advances Declines Unchanged
News Analysis
August 2011- GSM net subscriber addition HCL Tech bags a multi-million dollar deal from Deutsche Bank
Refer detailed news analysis on the following page
Net Inflows (September 20, 2011) ` cr Purch Sales FII MFs 2,131 247 1,753 326
FII Derivatives (September 21, 2011) ` cr Index Futures Stock Futures Gainers / Losers Gainers Company India Cements Amtek Auto Century Tex Shree Renuka NCC Price (`) 76 139 305 64 72 chg (%) 5.7 4.9 4.4 4.3 4.1 Company India Infoline Hero Motocorp Hindalco Inds Maruti Suzuki JSW Steel Losers Price (`) 75 2,138 146 1,124 679 chg (%) (3.2) (3.1) (2.8) (2.7) (2.6) Sebi Registration No: INB 010996539
1
Corporate News
NTPC to scale down 12th Plan capacity target to 66,000MW PFC gets RBIs approval for US$1bn overseas debt issue Sterlite Technologies gets `114cr order from BSNL Voltas to buy Wipro's water business
Source: Economic Times, Business Standard, Business Line, Financial Express, Mint
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