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<table border="0" cellpadding="3" cellspacing="1" width="100%" class="forumline"> <tr> <th class="thCornerL" width="22%" height="26">Author</th> <th class="thCornerR">Message</th> </tr> <tr> <td width="22%" align="left" valign="top" class="row1"><span class="name"><a name=""></a><b>Guest</b></span></td> <td class="row1" height="28" valign="top"><table width="100%" border="0" cellspacing="0" cellpadding="0"> <tr> <td width="100%"><img src="templates/subSilver/images/icon_minipost.gif" width="12" height="9" alt="Post" title="Post" border="0" /><span class="postdetails">Posted: Thu Oct 18, 2007 4:41 pm<span class="gen"> </span> Post subject: Indian Stock Market Update</span></td> </tr> <tr> <td colspan="2"><hr /></td> </tr> <tr> <td colspan="2"><span class="postbody">3:54 PM - The market witnessed extreme volatility and traders may have found the market too hot to handle. The market touched all-time highs in the afternoon but soon witnessed some serious selling. The Sensex plunged in the dying hours of trade to close at 17998, down 717 points, while the Nifty closed at 5251, down 208 points. The market breadth was negative with advances at 414 against declines of 780 on the NSE. The volumes were good with the BSE registering the highest ever cash turnover at Rs 1.48 lakh crore. The NSE cash turnover was Rs 26010 crore. » Send to friends <br /> <br />3:43 PM - If the Nifty crosses the 5135 level then there may be panic, says Ashwani Gujaral on CNBC TV18. The Nifty has support at 5250, he adds. » Send to friends <br /> <br />3:34 PM - The Sensex may go to 17000 or lower levels tomorrow, says Devang Vesaria, investment consultant on NDTV Profit. The market witnessed action in cash stocks that were playing catch up with the large caps today. » Send to friends <br /> <br />3:32 PM - The market may witnsess deep corrections tomorrow and Nifty can even go down to 4650, says Ashwani Gujaral on CNBC TV 18. Tomorrow will be a crucial day but such corrections need not worry investors, he adds. Just stay out of the market for now, he says. » Send to friends <br /> <br />3:25 PM - Most of the largecaps have witnessed major losses in the market today. These include ACC (17%), SBI (9%), Reliance Energy (8%), Bharti Airtel (7%), Suzlon (10%), Tata Power (7%), ICICI Bank (8%). » Send to friends <br /> <br />3:19 PM - The devil is in the level, says Rajeev Jain of Pranav Securities, on NDTV Profit. There have been mouth-watering profit levels in the morning and so a lot of selling has been witnsessed today, he adds. » Send to friends <br /> <br />3:10 PM - The market is falling fast, with the Sensex slipping below 18,000 and currently trading at 17956, down 721 points. Nifty is at 5339, down 219 points. » Send to friends <br /> <br />3:05 PM - The Sensex is off 800 points from the day's high and Nifty also loses over 50 points. The Sensex is trading at 18,426 down 306 points and Nifty is trading at 5471, down 88 points. The market breadth is positive, but narrow, with advances at 600 against declines of 581 on the NSE. The BSE Bankex Index is down 4% and power stocks are also witnessing selling pressure. Over 400 large caps have lost over 2% in the last half hour of trade as the market continues to be choppy. The list of losers is long, the Relaince pack is down, ONGC, Tata Power, SAIL, ACC, ICICI Bank, SBI and Hindalco and gainers are the IT stocks like Wipro, TCS and Infosys. » Send to friends <br /> <br />2:53 PM - Petronet LNG has a long-term target of Rs 100 with a stop loss of Rs 60, says Rajesh Jain of SMC Global Securities, on CNBC Awaaz. He advises to book partial profits for short-term players. The stock is currently trading at Rs 77, up 2.9% on the BSE. » Send to friends <br /> <br />2:47 PM - Religare has a target price of Rs 417 for Sasken Communications, reports NDTV Profit. The stock is currently trading at Rs 321, up 3.8% on the BSE. » Send to friends <br /> <br />2:35 PM - The market is all over the place and in parts it is going strong and then suddenly losing all its gains, says a technical analyst on CNBC TV18. It is difficult to take any call in this market and volatility is not a good sign, it does not mean you should rule out a correction either. Best is to wait and watch this market before taking any position right now. » Send to friends <br /> <br />2:29 PM - The time is best to reduce your leverages as a fall is expected in the market, says Ashwani Gujaral, technical analyst, on CNBC TV18. Yesterday's bounce back was a huge surprise and the market has not yet corrected. The capital inflows in the market are certainly worrisome, he adds. » Send to friends <br /> <br />2:22 PM - Omaxe is out with its Q2 results, reports sales at Rs 446 crore and PAT is at Rs 116 crore, reports CNBC TV18. The stock is currently trading at Rs 343, up 6.24% on the BSE. » Send to friends <br /> <br />2:15 PM - Garware Offshore is out with its Q2 results, reports FY 08 sales at Rs 87 crore and net profit at Rs 63 crore v/s Rs 29 crore, says Sandeep Akolkar, president, finance of the company, on CNBC TV18. The stock is currently trading at Rs 194, up 5.2% on the BSE. » Send to friends <br /> <br />2:08 PM - The bouts of volatility will continue in the market so it is best to wait and watch till Ocotober 25 when the P-note picture will be clear, says Ashwini Gujaral, technical analyst, on CNBC TV18. The market needs to stabilise and move closer to the support of 5130 on the Nifty before taking any long positions. » Send to friends <br /> <br />2:03 PM - The market seems to enter a volatile phase with the Snesex and Nifty losing points quickly. The Sensex is currently trading 18705, down 141 points and Nifty is at 2232, down 22 poiints. The market breadth is positive with advances at 746 against declines of 432 on the NSE. » Send to friends <br /> <br />1:53 PM - Emkay has a target price of Rs 230 for Yes Bank, reports NDTV Profit. The stock is currently trading at Rs 205, up 0.37% on the BSE. » Send to friends <br /> <br />1:48 PM - ACC is out with its Q3 results, reports sales at Rs 1678 crore v/s Rs 1373 crore and PAT is at Rs 292 crore v/s Rs 224, reports CNBC TV18. The stock is currently trading at Rs 120, down 0.14% on the BSE. » Send to friends <br /> <br />1:42 PM - Slowdown in the Indian market was expected following P-note move, says S Naren of ICICI Prudential Fund, AMC, on NDTV Profit. The valuations are justified on the FII inflows and the market is not facing any redemption pressure, he adds. » Send to friends <br /> <br />1:35 PM - Hexaware Technologies is out with its Q3 results, reports revenues at Rs 225 crore v/s Rs 262 crore and PAT at Rs 26 crore, says Atul Nishar, executive chairman of the company, on CNBC TV18. The stock is currently trading at Rs 118, up 8.5% on the BSE. » Send to friends <br /> <br />1:33 PM - Ranbaxy reports good results, reports Q3 PAT up 48% at Rs 207 crore, year on year, reports NDTV Profit. The board approved de-merger of the R&D and drug discovery to unlock value. The stock is currently trading Rs 442, up 6.2%. » Send to friends <br /> <br />1:19 PM - The European markets opened quiet with the Shanghai down while the Indian market continues to hold firm. The Sensex is trading at 19,161 up 445 points and Nifty is trading at 5723 up 164 points. The market breadth is positive with advances at 979 against declines of 179 on the NSE. The Midcap continues to show good gains. » Send to friends <br /> <br />1:09 PM - TTML cannot fall below Rs 36, but has a strong resistance at Rs 46, says Hemen Kapadia, technical analyst, on Zee Business. But once it crosses the Rs 46 mark and the consolidation phase is over, you may see 20% upside from there, he adds. The stock is currently trading at Rs 44.10, up 7% on the BSE. » Send to friends <br /> <br />1:02 PM - Noida Toll Bridge is out with its Q2 results, reports revenues at Rs 17 crore v/s Rs 11 crore and net profit at Rs 8.2 crore v/s Rs 2.1 crore, says Pradeep Puri, MD of the company, on CNBC TV18. The stock is currently trading at Rs 37.9, up 8% on the BSE. » Send to friends <br /> <br />12:54 PM - Indoco Remedies operates in niche segments related to ophthalmic products with a market size of $1 billion, says Aditi Kare, Director of the company, on NDTV Profit. The company is out with its Q2 results, reports revenues up by 27% at Rs 344 crore and net profit up 33% at Rs 42 crore, she adds. The stock is currently trading at Rs 285, up 2.59% on the BSE. » Send to friends <br /> <br />12:45 PM - Unitech, Info Edge India and Paramount Communications can give good returns from medium to long term, says Saurabh Mittal of Swadeshi Credit Securities, on NDTV Profit. » Send to friends <br /> <br />12:37 PM - Teledata Informatics has been a very volatile stock, giving choppy moves and therefore is not an investor grade stock, says Amarjeet Singh of Magal Keshav Securities, on NDTV Profit. If it can break out of Rs 70, then it can go up to Rs 90 on the upside, he says. On the downside, if it breaks Rs 52-53, then it can fall to Rs 43 too, he adds. The stock is currently trading at Rs 66.80, up 2.4% on the BSE. » Send to friends <br /> <br />12:29 PM - The market uptrend is intact and the next logical target for the Sensex is 19,520-19,557, says Prakash Gaba, technical analyst, on CNBC-TV18. » Send to friends <br /> <br />12:20 PM - Following the Nifty, the Sensex too has touched an all-time high, crossing the previous high of 19,174. The 30-share index is currently trading at 19,196, up 480 points form the previous close. Nifty is at 5734, up 175 points. Market breadth is strong, with 1003 advances against 165 declines on the NSE. All BSE sectoral indices are trading in the positive terrain. Top gainers on the Sensex include Reliance Communications, ONGC and TCS, while losers are ICICI Bank, Bharti Airtel and HDFC Bank. » Send to friends <br /> <br />12:17 PM - ABB has bagged orders worth Rs 512 crore from JSW Group, reports NDTV Profit. The stock is currently trading at Rs 1,568, up 5.4% on the BSE. » Send to friends <br /> <br />12:15 PM - Yes Bank saw a breakout at Rs 185 with very good volumes and is now headed towards Rs 270, says Amarjeet Singh of Mangal Keshav Securities, on NDTV Profit. He recommends booking profits at Rs 270. The stock is currently trading at Rs 208, up 1.8% on the BSE. » Send to friends <br /> <br />12:09 PM - For the medium term, Power Grid has a target price of Rs 170, says Amarjeet Singh of Mangal Keshav Securities, on NDTV Profit. Look at averaging the stock on declines, he says. A good level to enter the stock can be Rs 125-130, he adds. » Send to friends <br /> <br />12:03 PM - It is not advisable to buy Reliance Petroleum at current levels, says Sharmila Joshi of Prabhudas Lilladher, on Zee Business. But if you hold the stock, continue to do so, she adds. The stock is currently trading at Rs 191.60, up 5.8% on the BSE. » Send to friends <br /> <br />11:58 AM - There seems fresh buying coming in to the Nifty, says Anu Jain, technical analyst, on CNBC-TV18. Medium term target for the NSE 50-share index is 6100-6150 for the medium term, she adds. » Send to friends <br /> <br />11:50 AM - TCS has bagged an 10-year deal with Nielson worth $1.2 billion, reports CNBC-TV18. The company will provide IT and operations support to Nielson, along with finance and HR business processes through BPO. The news has pushed the TCS stock up 4.3% at Rs 1,142 on the BSE. » Send to friends <br /> <br />11:42 AM - The Nifty has hit an all-time high at 5717, crossing the previous high of 5708. The NSE 50-share index has rallied 12% from yesterday's low. The main contributors to this rally are ONGC, Tata Steel, Reliance Industries, Reliance Communications and NTPC. The Sensex is also trading above the 19,000 mark, at 19,081, up 365 points from the previous close. » Send to friends <br /> <br />11:36 AM - If Yes Bank can cross Rs 214, then it can go up to Rs 250, says Ashwani Gujral, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 209, up 2.3% on the BSE. » Send to friends <br /> <br />11:29 AM - It would be a matter of concern if the Nifty starts trading below 5550, says CK Narayan of ICICI Securities, on CNBC-TV18. He also says that the market breadth is likely to get narrower at higher levels. » Send to friends <br /> <br />11:21 AM - If Allahabad Bank can cross Rs 111, then it can go up to Rs 130, says Ashwani Gujral, technical analyst, on CNBC Awwaz. But is a very slow moving stock and will largely remain sideways, he adds. » Send to friends <br /> <br />11:16 AM - The market is still trading in the positive zone, though off the day's highs. The Sensex is at 18,866, up 150 points and Nifty is at 5645, up 86 points from the previous close. Market breadth is strong with advances at 978 against 150 declines on the NSE. » Send to friends <br /> <br />11:06 AM - L&T has been awarded orders worth Rs 462 crore for projects in Andhra Pradesh. The stock is currently trading at Rs 3,350.50, up 1.7% on the BSE. » Send to friends <br /> <br />10:59 AM - There might not be a large impact on the aggregate flows in the medium term due to the P-Notes issue, says Rashesh Shah of Edelweiss Capital, on CNBC-TV18. Larger FIIs may now participate in IPOs more aggresively, he says. But then, huge QIB oversubscription in IPOS may get moderated, he adds. Smallcaps and midcaps may get affected post the P-Notes freeze, he says. » Send to friends <br /> <br />10:53 AM - The market trend seems positive after the crash yesterday, says CK Narayan of ICICI Securities, on CNBC-TV18. The P-Notes issue is serious, but the market seems to have brushed off the impact, he adds. Volatility is likely to wind down in the next few days, he says. He does not expect any disturbance in rollovers in the near term. » Send to friends <br /> <br />10:43 AM - The power sector will continue to perform and Torrent Power can be bought even at current levels, says Sharmila Joshi of Prabhudas Lilladher, on CNBC-TV18. The stock is currently trading at Rs 153.95, up almost 7% on the BSE. » Send to friends <br /> <br />10:34 AM - A trader can look at buying Reliance Industries at the current price, with a stoploss of Rs 2,730, says Salil Sharma, technical analyst, on CNBC Awaaz. Medium and long term investors should look at buying the stock at dips, he adds. » Send to friends <br /> <br />10:27 AM - Supreme Infrastructure is into road construction, which is a very interesting space, says Sharmila Joshi of Prabhudas Lilladher, on CNBC-TV18. But what goes against them is that it is a small sized company, focussing only on one segment, she adds. The stock was definitely attractive at the issue price of Rs 108, but it is not advisable to buy at current levels, she says. If one has it, continue to hold it. The stock is currently trading at Rs 189 on the BSE. » Send to friends <br /> <br />10:18 AM - One can look at buying stocks from sectors like capital goods, engineering, cement and power space at lower levels, say 5350 on the Nifty, says Gaurang Shah of Geojit Financial Services, on NDTV Profit. » Send to friends <br /> <br />10:09 AM - TTML will face resistance at Rs 48-49 levels, says E Mathew, technical analyst, on CNBC-TV18. Weekly charts suggest that the stock is out of the underperformance phase and will not fall below Rs 34 now, he says. So one can hold on to the stock with a stoploss of Rs 34. » Send to friends <br /> <br />10:02 AM - Supreme Infrastructure has listed at Rs 175 versus the issue price of Rs 108, reports CNBC-TV18. The company has current order book of Rs 450 crore, says Vikram Sharma, MD of the company. The company is expected to have FY08 profits of over Rs 30 crore, he adds. FY08 topline is seen over Rs 150 crore and for FY09, it is expected at Rs 220 crore, he says. The stock is currently trading at Rs 195.50, after touching a high of Rs 224 on the BSE in trade so far. » Send to friends <br /> <br />9:56 AM - The market opened higher on Thursday. The Sensex is currently at 18,973, up a good 257 points from the previous close. Nifty is at 5638, up 79 points. Sensex heavyweight Reliance Industries has hit a high of Rs 2,800 and has crossed the marketcap of Rs 4 lakh crore. » Send to friends <br /> <br />9:51 AM - The market may witness strong buying if there is no selling pressure today, says an NDTV Profit Poll. The Nifty is expected to be in the range of 5505-5610. The pace of FII flows may slow down, as the focus will be on the quarterly results. » Send to friends <br /> <br />9:50 AM - If Power Grid can decisively break the Rs 145-148 levels, then it can move further up, says Gaurang Shah of Geojit Financial Services, on NDTV Profit. » Send to friends <br /> <br />9:46 AM - For now, there is no clarity as to where the market is headed for now, says a market expert from Edelweiss Capital, on CNBC-TV18. But the market is expected to remain positive for the next few trading sessions, maybe till October 25, he adds. » Send to friends</span></td> </tr> </table></td> </tr> <tr> <td colspan="2" height="1" class="spaceRow"><img src="templates/subSilver/images/spacer.gif" alt="" width="1" height="1" /></td> </tr> </table>
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