Market Commentary

Market Activity: Key share indices were up over 3% tracking overseas markets after U.S. Federal Reserve cut its federal funds rate by 75 basis points Tuesday. However, shares were trading slightly off highs touched at open, when Nifty even crossed the 4700 level as shares gained 4%.

At 10.10AM, Sensex was at 15358.01, up 524.55 points, or 3.5%, from previous close. Nifty was at 4684.30, up 151.30, or 3.3%.

All Sensex and Nifty shares rose, with bank, real estate, and power shares among top gainers. CNX Midcap and S&P CNX 500 indices were up over 3% each. ICICI Bank and State Bank of India rose around 6% each, while Reliance Energy was up 4%. Unitech, up 7%, was the top Nifty gainer.

In the mid trading session, indices recorded some paring of gains during the trade. The overall breadth however remained positive with gainers outnumbering losers by a ratio of 2 to 1 on the NSE. Broad based buying was seen in stocks from the software and telecom sectors. Pharma and engineering stocks were trading mixed.

At 1.00PM, Sensex was trading at 15,192, up 359 points while the Nifty was trading at 4,636, up 103 points. The rupee was trading at 40.44 to the dollar. Engineering stocks were trading mixed. While gains were seen in Punj Lloyd up 5%, L&T up 4% and ABB up 3%, selling pressure had marked trading in Bharat Electronics down 3%, Crompton Greaves down 2% and Suzlon down 2%. Suzlon has, in fact, been one of the major losers from the engineering pack over the past one month. The stock has been impacted not only by the broader market weakness, but also by a large provisioning announcement that the company made a couple of week’s back, which can impact its numbers for the fourth quarter of FY08.

Sensex ended below 15000 today, up 1%, but off highs touched earlier in the session, as investors booked profits ahead of an extended weekend. Weak European markets also weighed. The Indian stock market will remain closed on Thursday and Friday on account of Id-E-Milad and Good Friday holidays. Sensex ended at 14994.83, up 161.37 points or 1.1% from Tuesday. Nifty ended at 4573.95, up 40.95 points or 0.9%. Technology shares led gains, with Satyam Computer Services and Wipro up 5% each. SAIL, up nearly 6%, was the top Nifty gainer. Real estate shares, however, gave up gains, with Unitech ending down 4%. DLF fell 0.1%. Bharat Petroleum Corp, down 7%, was the worst hit on Nifty.

Sector Activity :

Tech stocks ended positive with expection: Infosys closed up Rs 1343.70 with volumes of Rs 261.75 crs, Satyam closed up at Rs 391.15 with volumes of Rs 169.69 crs, TCS closed down at Rs 811.45 with volumes of Rs 89.89 crs, and Wipro closed up at Rs 378.40 with volumes of Rs 45.87 crs.

Pharma stocks witnessed up trend with exception: Orchid Chemical closed up at Rs 116.25 with volumes of Rs 116.35 crs, Sun Pharma closed up at Rs 1259.90 with volumes of Rs 51.50 crs, Ranbaxy closed down at Rs 450.65 with volumes of Rs 40.99 crs, and Cipla closed up at Rs 206.30 with volumes of Rs 37.71 crs.

Banking stocks showed positive activity with exception: In the Public Sector SBI Bank closed up at Rs 1605.05 with volumes Rs 256.31 crs & Bank Of India closed down at Rs 238.10 with volumes Rs 47.74 crs. In the Private sector ICICI Bank closed flat at Rs 768.20 with volume of Rs 609.12 crs & HDFC Bank closed up at Rs 1272.60 with volumes of Rs 163.25 crs.

Auto Stocks ended up with exception: Tata Motors closed up at Rs 650.65 with volumes of Rs 71.98 crs & M&M closed up at Rs 661.20 with volumes of Rs 59.36 crs. While in the 2 wheeler segment stocks, Hero Honda closed down at Rs 650.35 with volumes of Rs 44.79 crs, Bajaj Holding closed up at Rs 644.30 with volumes of Rs 18.80 crs.

Cement Stocks closed positive trend with exception: Ambuja Cement closed up at Rs 122 with volumes of Rs 41.93 crs, ACC closed up at Rs 777.25 with volumes of Rs 27.03 crs, India Cement closed up at Rs 170 with volumes of Rs 21.95 crs and Madras Cement closed down at Rs 3200 with volumes of Rs 6.57 crs.

Nifty ended at 4574 up by 41 points

Click here for A critical daily report from the Dealing Desk of the KRC Broking Division that provides our Investor Client with post-market analysis of the day with an action guide charted for the next day of trading. Good Evening KRC presents the technical viewpoint on the market and stocks and has been indexed into the following segments:
* Earning Idea: Technical calls for short term.
* Market Actions: News specific calls with expected action.
* F & O trading call: Derivative strategy for the day.
* Index Trend: Expected movement of the Sensex with range guidance.

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Phone: 91-22-56338050 / 66965555. Fax: 5633 8060
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Market Activity: Key share indices were up in choppy trading after opening down nearly 1% on weak cues from the U.S. and Asian markets.

At 10.10AM, Sensex touched 14677.24 at open, a new low for 2008, before trading at 14866.13, up  76.64 points, or 0.5%, from the previous close. Nifty was at 4539.35, up 36.25, or 0.9%.

Real estate, oil and gas, and power shares led gains. Unitech, up nearly 3%, was the top Nifty gainer. BPCL and Reliance Industries rose 2% and 1%, respectively, while Tata Power gained 1%. Bank shares continued to be laggards, with ICICI Bank down 2% and HDFC Bank down 1%. HDFC, down 3%, was the worst hit on Nifty. Read More

Click here for A critical daily report from the Dealing Desk of the KRC Broking Division that provides our Investor Client with post-market analysis of the day with an action guide charted for the next day of trading. Good Evening KRC presents the technical viewpoint on the market and stocks and has been indexed into the following segments:
* Earning Idea: Technical calls for short term.
* Market Actions: News specific calls with expected action.
* F & O trading call: Derivative strategy for the day.
* Index Trend: Expected movement of the Sensex with range guidance.

Kisan Ratilal Choksey Shares and Securities Pvt. Ltd.
1102, Stock Exchange Tower, Dalal Street, Mumbai 400 001
Phone: 91-22-56338050 / 66965555. Fax: 5633 8060
Members: BSE & NSE
www.krchoksey.com

Market Commentary

Market Activity: Share indices were down 4% tracking the fall in Asian markets after the U.S. Federal Reserve, in a surprise move late Sunday, lowered its discount rate by 25 basis points to 3.25%. All BSE sector indices were in the red, with the Sensex hitting its lowest level in 2008 at 15088.03.

At 10.10AM, Sensex was at 15118.02, down 642.50 points, or 4.1%, from the previous close. Nifty breached its 4600 mark and was at 4562.20, down 183.60 points, or 3.8%.

CNX Midcap and S&P CNX 500 indices also slid 4% each. Sun Pharmaceuticals was trading down 2% after momentarily stepping into positive territory in the first five minutes of trade. Bank and real estate shares were the worst hit. Unitech and DLF were down 6% each, while ICICI Bank and HDFC Bank were down over 5% each. Housing Development Finance Corp, down 7.5%, was the worst hit on Nifty.

In the mid trading session, indices were slightly off lows, after having fallen 5% earlier, with Nifty nearly falling below the 4500-mark as European markets opened weak. At 1.55PM, Sensex dipped below the 15000-mark again, trading at 14987.02, down 773.50 points, or 4.9%, from previous close. Nifty was at 4540.75, down 205.05 points, or 4.3%, after falling just nine points short of going below 4500. All Nifty and Sensex shares were in red, while mid-cap shares also took a beating. HDFC, down 12%, and ICICI Bank, down 9.5%, were the worst hit on Nifty.

Key share indices closed at their lowest levels so far in 2008 tracking the weakness in overseas markets, after the U.S. central bank lowered its discount rate late Sunday. All Sensex and Nifty shares ended in the red, with both indices slipping below important support levels during the session. Sensex closed at 14809.49, down 951.03 points or 6% from Friday. Nifty ended at 4503.10, down 242.70 points or 5.1%. Bank, realty and metal shares were the worst-hit. Tata Steel and Hindalco Industries fell 9% and 10%, respectively, while Unitech shed 7%. ICICI Bank, down 14%, was the worst-hit among Nifty stocks. Mid-cap and small-cap shares also witnessed a battering, with Orchid Chemicals & Pharmaceuticals tumbling 40%.

Sector Activity :

Tech stocks ended negative: Satyam closed down Rs 366.35 with volumes of Rs 110.52 crs, Infosys closed down at Rs 1337.80 with volumes of Rs 97.36 crs, Wipro closed down at Rs 354.10 with volumes of Rs 44.44 crs, and TCS closed down at Rs 791.85 with volumes of Rs 38.26 crs.

Pharma stocks witnessed down trend: Orchid Chemical closed down at Rs 127.30 with volumes of Rs 261.35 crs, Ranbaxy closed down at Rs 440.35 with volumes of Rs 90.52 crs, Sun Pharma closed down at Rs 1253.65 with volumes of Rs 25.70 crs, and Cipla closed down at Rs 200.45 with volumes of Rs 20.62 crs.

Banking stocks showed negative activity: In the Public Sector SBI Bank closed down at Rs 1636.30 with volumes Rs 221.91 crs & Bank Of India closed down at Rs 258.25 with volumes Rs 60.58 crs. In the Private sector ICICI Bank closed down at Rs 759.95 with volume of Rs 507.60 crs & HDFC Bank closed down at Rs 1226 with volumes of Rs 106.55 crs.

Auto Stocks ended in Red: Tata Motors closed down at Rs 609.40 with volumes of Rs 47.01 crs & M&M closed down at Rs 639 with volumes of Rs 37.29 crs. While in the 2 wheeler segment stocks, Bajaj Auto closed down at Rs 660.50 with volumes of Rs 64.47 crs, Hero Honda closed down at Rs 686.30 with volumes of Rs 19.96 crs.

Cement Stocks witnessed negativity: ACC closed down at Rs 770.40 with volumes of Rs 37.09 crs, India Cement closed down at Rs 168.40 with volumes of Rs 20.29 crs, Ambuja Cement closed down at Rs 118 with volumes of Rs 17.17 crs and Madras Cement closed down at Rs 3400 with volumes of Rs 1.85 crs.

Nifty ended at 4503 down by 243 points

Click here for A critical daily report from the Dealing Desk of the KRC Broking Division that provides our Investor Client with post-market analysis of the day with an action guide charted for the next day of trading. Good Evening KRC presents the technical viewpoint on the market and stocks and has been indexed into the following segments:
* Earning Idea: Technical calls for short term.
* Market Actions: News specific calls with expected action.
* F & O trading call: Derivative strategy for the day.
* Index Trend: Expected movement of the Sensex with range guidance.

Kisan Ratilal Choksey Shares and Securities Pvt. Ltd.
1102, Stock Exchange Tower, Dalal Street, Mumbai 400 001
Phone: 91-22-56338050 / 66965555. Fax: 5633 8060
Members: BSE & NSE
www.krchoksey.com

Market Commentary

Market Activity: Key share indices were choppy as investors are

still skittish after the 5% fall Thursday. Shares opened up tracking a positive trend in other Asian markets.

At 10.30AM, Sensex was at 15413.18, up 55.83 points or 0.3% from previous close. Nifty was at 4609.10, up 15.50 points or flat.

Realty and metal shares were the biggest gainers, while telecom and auto shares were down. Satyam Computer Services was the biggest nifty gainer, up 3%, while Tata Power fell 5%. Bajaj Holdings and Investment listed today at Rs 755.50, after the demerger of its automotive and finance businesses. DLF rose 1.5% and Power Grid was up 2.5%. The stocks have replaced Bajaj Auto and GlaxoSmithKline Pharmaceuticals in the Nifty from today. Jaiprakash Associates was up 4%, the stock replaces Bajaj Auto in the Sensex from today. CNX Midcap was down 0.1%. Hero Honda Motors was down 2.4% and Maruti Suzuki fell 2%.

In the mid trading session, Shares rose nearly 2%, ignoring higher-than-expected inflation at 5.11% in the week to Mar 1, as it was already factored in. Short covering in the derivatives segment also aided gains. Inflation was higher than 5.02% the previous week and the 4.97% estimated. At 12.48PM, Sensex was at 15601.73, up 244.38 points or 1.6% from previous close. Nifty was at 4695.15, up 71.55 points or 1.5%. DLF, up 7%, was the top Nifty gainer, while Cairn India and Satyam Computer Services were up 4% each. Most auto shares were laggards, with Maruti Suzuki and Mahindra and Mahindra down 3% each. Hero Honda Motors, down 4%, was worst hit on Nifty.

Ignoring higher inflation and a weak close in other Asian markets, key share indices ended up nearly 3% as investors covered short positions. Sensex closed at 15760.52, up 403.17 points or 2.6% from the previous close. Nifty closed at 4745.80, up 122.20 points or 2.6%. Metals, realty, and oil & gas shares were the biggest gainers today. Reliance Energy rose 12%, DLF 8%, and Sterlite Industries 7%. Automobile shares were weak as the more-than-expected rise in inflation renewed worries about growth in the sector. The worst hits were Hero Honda Motors, down 3.5%, and Bharti Airtel, down 3%. Power Grid and Jaiprakash Associates ended up 7% each. The stocks have replaced Bajaj Auto in the Nifty and Sensex, respectively.

Sector Activity :

Tech stocks ended positive: Infosys closed up Rs 1370.20 with volumes of Rs 164.02rs, Satyam closed up at Rs 378.70 with volumes of Rs 124.73 crs, TCS closed up at Rs 803.85 with volumes of Rs 43.56 crs, and Wipro closed up at Rs 369.30 with volumes of Rs 36.03 crs.

Pharma stocks witnessed up trend with exception: Ranbaxy closed up at Rs 464.35 with volumes of Rs 60.21 crs, Cipla closed up at Rs 205.6 with volumes of Rs 24.18 crs, Sun Pharma closed up at Rs 1292.65 with volumes of Rs 23 crs, and Dr Reddy closed down at Rs 539.95 with volumes of Rs 20.44 crs.

Banking stocks showed positive activity: In the Public Sector SBI Bank closed up at Rs 1712.85 with volumes Rs 218.96 crs & Bank Of India closed up at Rs 280.25 with volumes Rs 49.08 crs. In the Private sector ICICI Bank closed up at Rs 876.95 with volume of Rs 387.47 crs & Kotak Bank closed up at Rs 662.05 with volumes of Rs 63.58 crs.

Auto Stocks ended mixed: M&M closed down at Rs 649.20 with volumes of Rs 50.14 crs & Tata Motors closed up at Rs 637.65 with volumes of Rs 31.27 crs. While in the 2 wheeler segment stocks, Hero Honda closed down at Rs 716.30 with volumes of Rs 29.55 crs, TVS Motor closed up at Rs 39.15 with volumes of Rs 2.23 crs.

Cement Stocks showed positivity with exception: India Cement closed up at Rs 189.40 with volumes of Rs 27.91 crs, ACC closed up at Rs 798.90 with volumes of Rs 21.53 crs, Ambuja Cement closed down at Rs 119.95 with volumes of Rs 15.68 crs and Dalmia Cement closed up at Rs 340.65 with volumes of Rs 3.76 crs.

Nifty ended at 4746 up by 122 points

Click here for A critical daily report from the Dealing Desk of the KRC Broking Division that provides our Investor Client with post-market analysis of the day with an action guide charted for the next day of trading. Good Evening KRC presents the technical viewpoint on the market and stocks and has been indexed into the following segments:
* Earning Idea: Technical calls for short term.
* Market Actions: News specific calls with expected action.
* F & O trading call: Derivative strategy for the day.
* Index Trend: Expected movement of the Sensex with range guidance.

Kisan Ratilal Choksey Shares and Securities Pvt. Ltd.
1102, Stock Exchange Tower, Dalal Street, Mumbai 400 001
Phone: 91-22-56338050 / 66965555. Fax: 5633 8060
Members: BSE & NSE
www.krchoksey.com

Date March 13th 2008

Market Commentary

Market Activity: Key share indices fell 3% as investors were spooked by weak sentiment across Asian markets, which slid as inflation fears resurfaced with crude oil prices rising to over $110 a barrel. A rise in inflation spooks prospects of a cut in interest rates at a time when financial markets are seeking succour from soft rates to alleviate concerns in the credit markets.

At 10.15AM, Sensex was at 15747.15, down 380.83 points or 2.4% from previous close. Nifty was at 4747.70, down 124.30 points or 2.6%.

CNX Midcap index fell 2.5%, and BSE Small cap index slipped 2%. Capital goods shares were the worst hit as the sector grew just 2.2% in January against 16.3% growth a year ago. BSE Capital Goods index fell 3.2% with BHEL down 4%, and Larsen & Toubro falling 3%. All BSE sector indices were trading with losses. Among the rare Nifty gainers were Maruti Suzuki India, up 2%, and Ranbaxy Laboratories, up 1%. V-Guard Industries shares were trading at Rs 86.40 after listing today at Rs 90 on NSE against an issue price of Rs 82 a share.

In the mid trading session, Sensex slid over 5% to breach its January low on basket selling by funds across the board. A possible unwinding of yen carry trades also weighed on the market here. At 3.55PM, Sensex was at 15350.53, down 777.45 points, or 4.8% from Wednesday, after touching a new low of 15228.99 intraday. Nifty was at 4632.70, down 239.30 points, or 5% after momentarily slipping below 4600. All Sensex shares were in red, with real estate, metal, and oil gas shares among worst hit. Unitech and Steel Authority of India fell 9% and 11%, respectively, while Cairn India, down 12%, was the worst hit on Nifty. Hero Honda Motors, up 1%, was the sole gainer on Nifty.

Key share indices ended sharply down, falling 5% on basket selling by hedge funds. Asian and European markets fell today on worries the U.S. in recession. Sensex ended at 15357.35, down 770.63 points or 4.8% from Wednesday, and at its lowest level since Aug 31. Nifty ended at 4623.60, down 248.40 points or 5.1%, at its lowest level since Sep 18. The worst hits were Suzlon Energy, down 13%, and SAIL, down 12%. Realty, capital goods, and power shares fell. Heavyweight Reliance Industries fell 5%, while State Bank of India was down 7%. Bajaj Auto and Hero Honda Motors were the only two Nifty gainers. V-Guard, which had listed at a premium to its issue price of Rs 82, ended 11% down.

Sector Activity :

Tech stocks ended down: Satyam closed down at Rs 364.95 with volumes of Rs 211.63 crs, Infosys closed down at Rs -6.49 with volumes of Rs 131.68 crs, TCS closed down at Rs 779.7 with volumes of Rs 67.41 crs, and Wipro closed down at Rs 365.85 with volumes of Rs 31.81 crs.

Pharma stocks closed positive with exception: Ranbaxy closed up at Rs 458 with volumes of Rs 81.91 crs, Glaxo closed up at Rs 1069.4 with volumes of Rs 45.25 crs, Cipla closed up at Rs 201 with volumes of Rs 30.66 crs, and Orchid Chemical closed down at Rs 210.65 with volumes of Rs 18.91 crs.

Banking stocks showed negative activity: In the Public Sector SBI Bank closed down at Rs 1695.95 with volumes Rs 207.74 crs & Bank Of India closed down at Rs 266.55 with volumes Rs 37.85 crs. In the Private sector ICICI Bank closed down at Rs 837.55 with volume of Rs 291.05 crs & Axis Bank closed down at Rs 806.6 with volumes of Rs 85.31 crs.

Auto Stocks witnessed down trend with exception: Tata Motors closed down at Rs 621.35 with volumes of Rs 55.64 crs & M&M closed down at Rs 661.05 with volumes of Rs 45.86 crs. While in the 2 wheeler segment stocks, Bajaj Auto closed up at Rs 2101.05 with volumes of Rs 224.69 crs, Hero Honda closed down at Rs 737.2 with volumes of Rs 12.46 crs.

Cement Stocks ended in red with exception: India Cement closed down at Rs 183.55 with volumes of Rs 21.95 crs, ACC closed up at Rs 779.1 with volumes of Rs 21.76 crs, Ambuja Cement closed down at Rs 120.75 with volumes of Rs 10.91 crs and Dalmia Cement closed down at Rs 291.5 with volumes of Rs 2.96 crs.

Nifty ended at 4624 down by 248 points

Click here for A critical daily report from the Dealing Desk of the KRC Broking Division that provides our Investor Client with post-market analysis of the day with an action guide charted for the next day of trading. Good Evening KRC presents the technical viewpoint on the market and stocks and has been indexed into the following segments:
* Earning Idea: Technical calls forshort term.
* Market Actions: News specific calls with expected action.
* F & O trading call: Derivative strategy for the day.
* Index Trend: Expected movement of the Sensex with range guidance.

Kisan Ratilal Choksey Shares and Securities Pvt. Ltd.
1102, Stock Exchange Tower, Dalal Street, Mumbai 400 001
Phone: 91-22-56338050 / 66965555. Fax: 5633 8060
Members: BSE & NSE
www.krchoksey.com

Market Commentary
 

Market Activity: Key share indices were slightly off opening highs, after rising over 3% tracking gains in US and Asian markets. Cheaper valuations and hope of revival in global equities is prompting investors to pick up shares.

At 10.15AM, Sensex was at 16545.66, up 422.51 points or 2.6% from previous close. Nifty was at 4977.45, up 111.55 or 2.4%.

All BSE sector indices were trading with gains. Realty, capital goods, and bank shares led gains. Unitech was up 12% while Reliance Energy and HDFC Bank gained 7-9%. Among laggards, heavyweight Tata Steel fell 2% and Ambuja Cements was down 1%. Tata Steel today reported consolidated Oct-Dec net profit of Rs 14.02 bn from Rs 10.54 bn a year ago. The figures include Tata Steel U.K., which is the holding company for Corus, results as well. Rural Electrification was Rs 123.70, up 18% from its issue price of Rs 105 per share after listing at Rs 129.90 on NSE.

In the mid trading session, indices came off highs on disappointing January industrial growth data. Data showed India’s industrial growth slowed down to 5.3% in January from 11.6% a year ago. At 12.51PM, Sensex was at 16260.34, up 133.19 points or 0.8% from previous close. Nifty was at 4892.55, up 26.65 or 0.5%. Capital goods shares came off highs as growth in the sector slowed down to 2.1% in January against 16.3% a year ago. BHEL was trading up 0.3% versus 5% gains earlier, while Larsen & Toubro was up 2%. Siemens fell 3%. Hindalco Industries, down 5%, was the worst hit on Nifty, while Unitech, up 9%, and HDFC Bank, up 4%, were among top gainers.

Key share indices ended flat, giving up most gains, as industrial growth for January was 5.3% against an estimate of 7.7%. Industrial growth fell from 11.6% a year ago. Gains in European and other Asian markets curbed the negative sentiment here. Sensex ended at 16127.98, up 4.83 points or flat. Nifty ended at 4872.00, up 6.10 points, from previous close. Metals and information technology shares were the worst hit today, with BSE Metal Index ending down 2.4% and CNX IT index down 1.3%. BSE Consumer Durables index fell 1.4%, against a 2% rise earlier, as consumer durables output in January fell 3.1%. Nifty laggards included Tata Steel, down 6%, and SBI, down 5%. Realty and oil and gas shares gained with Cairn India up 7% and Unitech up 4%. Rural Electrification ended at Rs 121.30, a 15% premium to its issue price. 

Sector Activity :

Tech stocks ended down with exception: Infosys closed down at Rs 1385.15 with volumes of Rs 239.06 crs, Satyam closed down at Rs 379.65 with volumes of Rs 166.21 crs, TCS closed up at Rs 823.55 with volumes of Rs 38.97 crs, and Wipro closed down at Rs 389.95 with volumes of Rs 27.65 crs.

Pharma stocks closed positive with exception: Ranbaxy closed up at Rs 464.45 with volumes of Rs 68.45 crs, Cipla closed up at Rs 204.90 with volumes of Rs 43.10 crs, Dr Reddy closed down at Rs 554.90 with volumes of Rs 26.78 crs, and Sun Pharma closed up at Rs 1266.25 with volumes of Rs 26.14 crs.

Banking stocks showed positive activity with exception: In the Public Sector SBI Bank closed down at Rs 1807.65 with volumes Rs 306.14 crs & Bank Of India closed up at Rs 282.55 with volumes Rs 126.40 crs. In the Private sector ICICI Bank closed up at Rs 880.30 with volume of Rs 473.47 crs & Kotak Bank closed up at Rs 693.45 with volumes of Rs 96.12 crs.

Auto Stocks witnessed mixed trend: M&M closed down at Rs 645.10 with volumes of Rs 108.44 crs & M&M closed up at Rs 682.85 with volumes of Rs 27.77 crs. While in the 2 wheeler segment stocks, Bajaj Auto closed up at Rs 2093.90 with volumes of Rs 85.19 crs, Hero Honda closed down at Rs 728.25 with volumes of Rs 19.04 crs.

Cement Stocks ended in red with exception: ACC closed down at Rs 807.30 with volumes of Rs 35.08 crs, India Cement closed down at Rs 202.10 with volumes of Rs 24.39 crs, Ambuja Cement closed down at Rs 123.80 with volumes of Rs 12.74 crs and Madras Cement closed up at Rs 3542.70 with volumes of Rs 4.71 crs.                        

Nifty ended at 4872 up by 6 points
 

Click here for A critical daily report from the Dealing Desk of the KRC Broking Division that provides our Investor Client with post-market analysis of the day with an action guide charted for the next day of
trading. Good Evening KRC presents the technical viewpoint on the market and stocks and has been indexed into the following segments:
* Earning Idea: Technical calls forshort term.
* Market Actions: News specific calls with expected action.
* F & O trading call: Derivative strategy for the day.
* Index Trend: Expected movement of the Sensex with range guidance.

Kisan Ratilal Choksey Shares and Securities Pvt. Ltd.
1102, Stock Exchange Tower, Dalal Street, Mumbai 400 001
Phone: 91-22-56338050 / 66965555. Fax: 5633 8060
Members: BSE & NSE
www.krchoksey.com

Market Commentary

Market Activity: Key share indices were slightly up, after opening

down over 1%, as investors remained wary on weakness in other Asian markets. Buying at lower levels aided the recovery.

At 10.15AM, Sensex was 15971.83, up 49.11 points or 0.3% from previous close. Nifty was at 4805.90, up 5.50 points or 0.1%.

L&T was the biggest Nifty gainer, up 4.5%, as investors picked up the stock after it fell 25% over the past six sessions. ONGC also gained 0.6% helped by reports it is planning a joint venture with ExxonMobil for its liquefied natural gas business. Banking shares were weak as worries persist over funding of the farm loan waiver announced in the Budget, as fresh reports emerged that the government may restructure the loan waiver packages to be more inclusive. IT and auto shares also declined. Mid- and small-cap shares bucked the weak trend in frontline shares. The BSE Small-cap and CNX Midcap indices were up 1% each.

In the mid trading session, indices were up 1% in choppy trade, led by gains in capital goods, real estate, and power shares. Recovery in most Asian equities and a firm opening in European markets also aided the rise. At 2.07PM, Sensex was at 16030.77, up 107.05 points, or 0.7%, from previous close. Nifty was at 4841.00, up 40.60 points or 0.9%. PNB was up 1% after news its arm PNB Housing Finance plans to sell 26% stake to a strategic investor and also float an initial public offer post the sale. Tata Power, up 9%, was the top Nifty gainer. IT shares were among laggards, with HCL Technologies and Infosys Technologies down 1% each. Satyam Computer Services, down 5%, was the worst hit on Nifty.

Key share indices ended up 1%, reversing early losses, as Asian and European markets gained today. Sensex ended at 16123.15, up 199.43 points, from Monday. Nifty closed at 4865.95, up 65.50 points. Realty, capital goods, power, and oil and gas shares were the biggest gainers. Suzlon Energy and Tata Power rose 8% each, while L&T ended up 7%. Among laggards, Sun Pharmaceutical Industries, Cipla and Maruti Suzuki India shed 4% each. Information technology shares remained weak on mounting worries about the health of the U.S. economy and rising project cancellations. HCL Technologies and Satyam Computer Services fell 3% each. Mid- and small-cap shares outperformed frontliners with CNX Mid-cap and BSE Small-cap indices rising 4% each. These stocks had taken a beating in the past few weeks and valuations now seem attractive.

Sector Activity :

Tech stocks ended down: Infosys closed down at Rs 1426.35 with volumes of Rs 285.31 crs, Satyam closed down at Rs 396.15 with volumes of Rs 235.48 crs, TCS closed down at Rs 823.50 with volumes of Rs 83.36 crs, and Wipro closed down at Rs 393.20 with volumes of Rs 42 crs.

Pharma stocks witnessed mixed trend: Sun Pharma closed down at Rs 1239.15 with volumes of Rs 57.60 crs, Ranbaxy closed up at Rs 452.95 with volumes of Rs 57.10 crs, Cipla closed down at Rs 195.60 with volumes of Rs 53.93 crs, and Nicolas Piramal closed up at Rs 295.05 with volumes of Rs 4.50 crs.

Banking stocks showed positive activity with exception: In the Public Sector SBI Bank closed up at Rs 1894.45 with volumes Rs 174.25 crs & Bank Of India closed up at Rs 269.10 with volumes Rs 123.10 crs. In the Private sector ICICI Bank closed down at Rs 856.65 with volume of Rs 588.84 crs & Axis Bank closed up at Rs 836.15 with volumes of Rs 91 crs.

Auto Stocks closed mixed: M&M closed up at Rs 675.85 with volumes of Rs 57.67 crs & Tata Motors closed down at Rs 653.30 with volumes of Rs 61.44 crs. While in the 2 wheeler segment stocks, Bajaj Auto closed up at Rs 2077.25 with volumes of Rs 128.74 crs, Hero Honda closed down at Rs 735.60 with volumes of Rs 20.29 crs.

Cement Stocks hogged the limelight: ACC closed up at Rs 813.25 with volumes of Rs 59.80 crs, India Cement closed up at Rs 207 with volumes of Rs 38.70 crs, Ambuja Cement closed up at Rs 125.35 with volumes of Rs 15.99 crs and Madras Cement closed up at Rs 3501 with volumes of Rs 10.69 crs.

Nifty ended at 4866 up by 66 points

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trading. Good Evening KRC presents the technical viewpoint on the market and stocks and has been indexed into the following segments:
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* F & O trading call: Derivative strategy for the day.
* Index Trend: Expected movement of the Sensex with range guidance.

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Market Activity: Key shares fell 3% tracking the sharp decline in US and Asian markets.

At 10.10AM, Sensex was 16017.62, down 524.26 points or 3.2% from Wednesday. Nifty slipped below 4800 to trade at 4773.70, down 147.70 points or 3%.

All BSE sector indices were in red, with real estate, power, and bank shares among worst hit. ICICI Bank and Unitech were down 4% each, while Reliance Energy, down 7%, was the worst hit on Nifty as the company’s buyback offer price disappointed the market. GSS America Infotech listed at Rs 380 on NSE, 5% below its issue price of Rs 400. Sterlite Industries, up nearly 1%, was the sole gainer on Nifty.

In the mid trading session, indices extended their fall, down nearly 5%, as inflation for the week to Feb 23 topped 5%. Selling by foreign institutional investors amid weak cues from overseas markets also aggravated the fall. At 1.25PM, Sensex was 15798.04, down 747.39 points or 4.5% from Wednesday. Nifty was at 4710.15, down 212.25 points or 4.3%. Inflation for the week to Feb 23 stood at 5.02% against 4.89% the previous week. All Sensex and Nifty shares continued to remain in negative territory. Bank, power, and real estate shares declined the most, with Reliance Energy, down 11%, worst hit on Nifty.

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Kisan Ratilal Choksey Shares and Securities Pvt.Ltd.
1102,Stock Exchange Tower,
Dalal Street, Mumbai 400 001.
Phone :91-22-56338050 / 66965555 Fax : 5633 8060
Members: BSE & NSE
 
K R Choksey is the best broking house / stock broker company in Mumbai and India. For Online share trading Mumbai and India / Online stock trading Mumbai and India log on to www.krchoksey.com 

Market Activity: Key shares recovered from a weak opening helped by gains in technology and oil and gas shares. Shares fell nearly 0.5% in the first few minutes of trade, tracking weak overseas markets.

At 10.10AM, Sensex was at 16355.46, up 15.57 points, or 0.1%, from Tuesday. Nifty was at 4882.62, up 18.40 points or 0.4%.

ONGC led oil and gas shares higher, rising 2%. Among technology shares, HCL Technologies and Infosys Technologies were up 2% each. HCL Technologies was the top Nifty gainer. Bank shares were still among the worst hit, with ICICI Bank extending its decline as losses on credit derivatives exposure continues to weigh. ICICI Bank shares, down 4%, were the worst hit on Nifty. Other laggards include Bharti Airtel and ITC, down nearly 1% each.

Click Here to read the complete K R Choksey Post Market Analysis report. Stock  recommendations for this week, short term stock picks idea and Earning ideas.
 
Kisan Ratilal Choksey Shares and Securities Pvt.Ltd.
1102,Stock Exchange Tower,
Dalal Street, Mumbai 400 001.
Phone :91-22-56338050 Fax : 5633 8060
Members: BSE & NSE
 
K R Choksey is the best broking house / stock broker company in Mumbai and India. For Online share trading Mumbai and India / Online stock trading Mumbai and India log on to www.krchoksey.com