Indian stocks markets started on good opening trade on the strong global cues and held their gains through out the day. However the Nifty was enable to cross the 2800 mark and ended at 2762.50 up by 28 points.
The BSE Sensex also ended in green with the gains of 80.50 points closed at 8902.56.
Today’s market rally was mainly on the back of good global cues, as the US markets ended higher and Asian markets also were trading higher. Even the European markets also opened in green.
In today markets share of banks, IT, and auto had good buying support. The auto stocks were up on the hope hat the demand for the CV will get boost after the CV makers announced the rate cut to the tunes of Rs.16000. The rate cut was announced after the government had announced excise duty cut on Tuesday.
Top gainer of the markets today is: M&M up by 7.20% closed at 317.20, Tata Motors ended 6.06% higher closed at 140.10, and NALCO up by 4.18%
Top losers of the markets today is: Ranbaxy down by 3.60%, ABB down by 2.96% and HDFC down by 2.86%
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4% across-the-board excise duty cut to be continued beyond 31 March, 2009.
To cut service tax to 10%.
To cut excise duty by additional 2%.
Excise duty on bulk cement to be 8% or Rs 230 per metric tonne, whichever is higher.
- Naptha exempted from customs duty to provide relief to the power sector; extends customs duty in Naptha beyond March 31, 2009.
“The general relaxation in the excise duty rates by 4% was made with effect from 7/12/08 and it is now being extended beyond March 31, 2009. In addition, it has now been decided to reduce the general rate of central excise duty from 10% to 8%,” Mukherjee said, while addressing the Lok Sabha.
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Week opened Indian stock markets closed father week on the CLAS downgrades of EPS targets of most of the index stocks. CLSA has down graded the EPS targets of ICICI Bank, TATA Steel, and Reliance Industries.
BSE Bank index closed at 4298.91 down by 3.49%, IT index closed at 2038.51 down by 2.69% and Metal Index closed down by 2.67% at 4692.47.
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On the last trading session before a long weekend the Indian stock markets ended on lower note. The NSE CNX Nifty50 closed at 2736.45 down by almost 2% or 52 points.
The BSE Sensex closed at 8843 down by 199 points, but the Nifty and Sensex both closed above theirs support levels. Nifty did slip below its critical support level of 2750 but managed to end above 2700 mark. BSE Sensex closed at 8843 above support level of 8800.
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What can be called as ranged trading, once again the Indian stocks markets closed with very small gains,
In low volumes day the NSE CNX Nifty traded below 2800 level most part of the day and closed at 2789.65 with gains of 13 points, BSE Sensex closed at 9042 up by 27 points.
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Indian stock markets opened on week note on global cues, the NSE Nifty opened almost 30 points down but recovered to higher levels,
Nifty traded in the range of 2736-2806 through out the trading session and closed at 2776 down by just 5.65 points. The NSE Nifty has been trading with the resistance at 2810-2830 has tested 2806 and fell from that levels.
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Markets opened on flat note and later on drifted to lower levels. The NSE CNX Nifty ended 23 points lower to close at 2780.05 which below the crucial support level.
Markets analyst feels with no major triggers markets may be in the same rage of 2860-2700.
The BSE Sensex has closed at 9090.88 down by 110.97.
Today’s loser in today markets are Mercator Lines, ends up by 25% and First Source up by 19%.
Top Nifty gainer are SAIL, Grasim, Siemens, and
Top loser are ABB down by 6.28%, Sterlite Industries down by 5.84%
Even the lower inflation numbers did not help the markets to recover and ended lower.
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Nifty closed at 2783.90 up by 17 points, intraday the nifty touched high of 2831.70 and also touched low of 2752.90.
BSE Sensex was up by 82.60 points and closed at 9149.30; BSE Realty index was the biggest loser again in today trade and lost almost 8% down.
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Today markets opened weak and continued their fall during the day, the fall was ked by Real estate stocks and ADAG pack like Reliance Infra, Reliance Capital, RNRL, And Reliance power even Reliance Industries which had good news of HC allowing the company to sell the GAS did not support the markets.
Top loser in today markets are Real Estate Major DLF lost about 14% and Unitech lost 8.86%, Reliance Infra Lost 10.70%, Reliance capital lost 8% and SAIL lost 8.19%.
Even the Banking stocks also closed lower in today markets, Banks like ICICI Bank closed at 385.10 down by 7.48% and Housing loan major HDFC closed at 7.19% lower at 1531.60
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It was weak start for the Indian stock markets, as the both major bench mark indices plunged below their support levels.
NSE CNX Nifty closed at 2766.65 down by 108.15 points, BSE Sensex closed at 9066.70 down by 357.54 points.
Today markets opened weak and continued their fall during the day, the fall was ked by Real estate stocks and ADAG pack like Reliance Infra, Reliance Capital, RNRL, And Reliance power even Reliance Industries which had good news of HC allowing the company to sell the GAS did not support the markets.
Top loser in today markets are Real Estate Major DLF lost about 14% and Unitech lost 8.86%, Reliance Infra Lost 10.70%, Reliance capital lost 8% and SAIL lost 8.19%.Even the Banking stocks also closed lower in today markets, Banks like ICICI Bank closed at 385.10 down by 7.48% and Housing loan major HDFC closed at 7.19% lower at 1531.60
Gail was the only stock with positive trade in market which closed at 195.30 up by 3.56%
market which closed at 195.30 up by 3.56% Markets analysts feel the Nifty is trading in the range of 2700-2860 and only once this level is broken upward or downward the market may see some action.
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