Analyst View

Indian markets turn negative after flat opening, NSE Nifty down by 3 points at 10.07 am

Indian Markets opened flat on Thursday. NSE Nifty was down by 3 points at 2926. BSE Sensex was marginally up at 10.07 a.m. IST. Volatility may be higher in days to come and markets will depend largely on International cues.

Reliance Communications was trading strong. The stock was up by nearly 8.8%. At NSE Reliance Communications touched an intraday high of Rs 249.55 and a low of Rs 232 during the early trading session.

Among major gainers were ICICI Bank (up by 2.7%), Sterlite (up by 4%), Zee Entertainment (up by 3.5%) and HDFC Bank (up by 2%).

Major losers included Technology stocks, Wipro, TCS, Satyam, Siemens.

Markets at 10.15 am: Nifty up by 44 points; Metals & Energy stocks gain

Indian Stock markets have opened strong on Wednesday. NSE Nifty was trading 44 points higher at 2828 while BSE Sensex was up by 136 points at 9298. Tata Communications was among major gainers in todays trade. The stock was trading up by 7% followed by Sterlite, SAIL, DLF and Reliance Communications.

Tata Steel gained further ground. The stock was trading Rs 7 higher at 203. Reliance Industries was also helping BSE Sensex. The stock was up by Rs 27.

Among other gainers were Grasim, Wipro, Reliance Infra, GAIL, ICICI Bank, ABB, Satyam Computers, NALCO, Unitech, Suzlon Energy, HCL Tech, Ranbaxy Labs, Cipla, NTPC and Reliance Petro.

BSE Sensex up by 350 points, Nifty gains 105 at 1 pm

BSE Sensex up by 350 points, Nifty gains 105Indian Stock markets gained further ground at 1 pm. The markets were trading lower an hour back as some selling was witnessed at higher levels. All sectors were trading higher today. While selling at higher levels has caused markets to slide, but some select counters are still holding strong.

Nifty crosses 2800, BSE Sensex at 9270 at 12.20 am

NSE Nifty gained further and has managed to gain 91 points compared to previous close. BSE Sensex gained 303 points.

Reliance Infra was major gainer with stock trading Rs 34 higher at Rs 566. The stock touched an intraday high of Rs 571.7 on BSE. Other gainers included HDFC, Reliance Communications, SBI, ITC, NTPC, L&T, Sterlite and ONGC.

Jim Walker of Asianomics feels that India will outperform. However, Jim expects Indian GDP to remain in range 3-5%. Jim also expects that there may be further sell off in Indian markets. The valuations will become attractive and will offer decent returns.

Tata Power touched an intraday high of Rs 705. The stock however declined from day’s high and was trading at 695.

Nifty has resistance at 3000 - 3100 and support at 2500: Networth Stock Broking

Networth Stock Broking has suggested a strong resistance for NSE Nifty in 3000-3100 range. US Stock markets ended positive and Asian markets are expected to open strong on Monday. Indian Stock markets may also open with a wide upward gap on Monday.

As per figures from exchange, stocks worth Rs 4.5 crore were sold by FII in cash market on Friday. Domestic Institutional investors sold stocks worth Rs 184 crore in cash market.

Network Stock Broking analysts believe 2510 and 2492 as a strong support level for NSE Nifty.

Stock Mkt Looks Range-Bound Awaiting Govt Decision, Says Vishwas Agarwal

Stock Mkt Looks Range-Bound Awaiting Govt Decision, Says Vishwas AgarwalAmid a cautious start, Indian equities continued to trade positively but on a flat note.

Global signals are fairly positive and there are expectations that the government will shortly declare a strong stimulus package to boost up the financial system.

Realty, consumer goods and banking stocks went up, whereas consumer durables and metal stocks turned down.

BSE Midcap and Smallcap index gained 0.65% and 0.61% respectively.

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