24 January 2011

Nifty hits 5750

11:53 Financial, Capital goods buy suit, covering consumer goods, metal and car industry giants ONGC and NTPC 5750 the upward trend, former Reserve Bank quarterly policy may be one reason for last move above small scale with benchmark Nifty "stock decline.


Ambareesh Baliga of Karvy Stock Broking says, though he sees a chance for a pullback rally, but he will not be enough. "We can look back for a 60-70 score to beat, but not much, only to fight back would mean," he says.

"With each higher level, we see sales coming in FII are clearly a party, a trader in the market, so that back I really do not see the fight lasting more than 60-70 points" they points.

However, upside limited by Anil Dhirubhai Ambani Group to sell and telecoms stocks, Reliance Industries, Wipro, Tata Power, Dr Reddy's Laboratories and the cell together.

19175-167 share BSE Sensex is trading at 30 points and 50-5749 share Nifty was up 52 points. The broader indices were following the same trend, the BSE Midcap and Smallcap indices were 0.8% each.

In front liners, 2 to 4.4% of SBI, HDFC, ICICI Bank, Tata Steel, BHEL and Axis Bank collected. However, Wipro, Reliance Industries, Reliance Communications, Reliance Infrastructure, Tata Power and Siemens were 0.7 to 2%.

Midcap space, 5-10% Monnet Steel, KSK Energy Ventures, sanwaria Agro, Wockhardt and money matters, collect KGN Industries, Kirloskar Oil, Gujarat NRE Coke, the Polaris 2 was down to 4.4% and Parsvnath.

Small cap space, the Odyssey, Finance MSP Steel, Shristi Infra, Indiabulls Securities and Cambridge Solutions Kennametal 8-16% during jumped Surana Inds, Rossell Tea, Hindustan media spectacle and 5 to 9.5% of information is lost.

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