Markets volatile; Rel Infra, JP Asso, L&T gain

Markets gave up its mid noon gains and are now trading volatile. Buying interest seen in realty, capital goods, metal and bank stocks. The BSE midcap index was also trading with good gain; it was up 1.59% at 8,857.65. However, auto, consumer durable stocks are witnessing selling pressure.

At 1.11 pm, the Sensex is up 27.14 points or 0.15% at 17627.26, and the Nifty down 7.85 points or 0.15% at 5220.35.

About 1768 shares have advanced, 1098 shares declined, and 217 shares are unchanged.

Reliance Infra, Jaiprakash Asso, L&T, Unitech and Zee Entertain were the top gainers on the bourses. However, Hindalco, SBI, Tata Motors,

Hero Honda and Idea Cellular are the top losers on the bourses.

Most active shares on BSE are HDIL, Jaiprakash Asso and Titagarh Wagons.

Source : moneycontrol.com

The market is witnessing some selling pressure

The market is witnessing some selling pressure. Sensex and Nifty are both trading in the negative. Sensex is trading at 17586, down 13 points and Nifty is at 5220, down 8 points from the previous close. The CNX Midcaps index is up 0.95% and BSE Smallcaps index is up 0.78%. The market breadth is positive with advances at 788 against declines of 432 on the NSE.

Angel Broking has a price target of Rs 1835 for Nestle, reports Zee Business. The stock is currently trading at Rs 1725, down 1.13% on the BSE.

GLOBAL MARKETS UPDATE

GLOBAL MARKETS UPDATE ( 1:43 PM IST ) : DAX down 1.18 ( 0.02 % ) , CAC down 17.84 ( 0.35 % ) , HANG SENG down 88.68 ( 0.34 % ) , SHANGHAI UP 67.90 ( 1.84 % ) .

Stock Picks

GMR Infra seems to be heading towards Rs 180, says Deven Shah, technical analyst, on NDTV Profit. The stock is currently trading at Rs 168.40, up 3% on the BSE.

Shasun Chemicals will face stiff resistance at Rs 67.50 and Rs 73.50, says Hemen Kapadia, technical analyst, on NDTV Profit. The stock is currently trading at Rs 60.80, up 2.9% on the BSE.

Dish TV is a fundamentally sound company with a strong business model, says Rajesh Tambe, market expert, on Zee Business. The stock has a target price of Rs 100-120 in 12-18 months, he adds. The stock is currently trading at Rs 59, up 1.71% on the BSE.

BILT plans to hike prices by Rs 2500/tonne from tomorrow, says RR Vederah, MD of the company, on CNBC TV18. EBIDTA margins to increase by 75 bps on price hike, he says. The company expects revenues to increase by Rs 28 crore on account of the price hike, he says. The company will increase uncoated paper prices by Rs 700/tonne, he adds. The stock is currently trading at Rs 33, up 6.38% on the BSE.

2008 Sensex target is 19,600

The 2008 Sensex target is 19,600, says Sandeep Bhatia of UBS Securities, on NDTV Profit. He sees Sensex FY09 earnings at Rs 999. The market may see a sharp recovery in H2 of 2008, he says.

Maruti has a target price of Rs 835, says Hemen Kapadia, technical analyst, on NDTV Profit. It will face resistance at Rs 820 and has support at Rs 769, he adds. The stock is currently trading at Rs 798.75, up 1.4% on the BSE.

The market is trading higher

The market is trading higher now. Sensex is at 17,708, up 108 points from the previous close. Nifty is at 5243, up 15 points. Realty, banking and capital goods stocks are popular today, while some auto stocks are being dumped.

Emkay has a ’buy’ rating on SBI, with a target price of Rs 2,200, reports CNBC-TV18. The stock is currently trading at Rs 1,802, down 1.1% on the BSE. »

Reliance Industrial Infra can go up to Rs 1,745, where it might face some resistance, says Hemen Kapadia, technical analyst, on NDTV Profit. Above this, Rs 1,830 is also possible, he adds. So continue to hold the stock for now, he suggests. It is currently trading at Rs 1,709.65, up 5% on the BSE.

Allahabad Bank has support at Rs 83 and may face resistant at Rs 101, says Hemen Kapadia, technical analyst, on NDTV Profit. The stock is currently trading at Rs 92.10, up 5.8% on the BSE.

If Idea Cellular can close above Rs 113, then one can take a short term trading call here, says Hitendra Vasudeo, technical analyst, on CNBC Awaaz. It can then go up to Rs 121 or more, he adds. Keep a stoploss below Rs 100, he adds. The stock is currently trading at Rs 107.90, down 0.6% on the BSE.

KS Oils can go up to Rs 98-100 in this month itself, says Hemen Kapadia, technical analyst, on NDTV Profit. It has support at Rs 64 and will face resistance at Rs 89, he adds. The stock is currently trading at Rs 83.20, up 1.6% on the BSE.

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Markets choppy; L&T, Reliance Infra, Maruti up

Markets are trading choppy. The BSE realty index has outperformed the other sectoral indices; it was up over 2% at 8926. Capital goods, power, banking sectors are also trading in green. However, auto, oil & gas indices stocks are witnessing selling interest.

The BSE midcap and smallcap indices are up 1.15% and 0.56% respectively.

At 10.35 am, the Sensex is up 15.51 points or 0.09% at 17615.63, and the Nifty down 3.00 points or 0.06% at 5225.20.

About 1702 shares have advanced, 1164 shares declined, and 217 shares are unchanged.

L&T, Reliance Infra, Maruti are top gainers on the Sensex.

Market opens volatile; Capital goods, realty up

The markets opened strong, but gave up its opening gain and is now trading volatile. Buying interest is seen in capital goods and realty indices. However, IT, FMCG, oil and gas stocks are witnessing selling pressure.

At 9.56 am, the Sensex was up 18 points at 17618, and the Nifty was up 2 points at 5230.

Maruti Suzuki, ICICI Bank, L&T, DLF are among major gainers.

Asian Markets:

Asian markets were trading mixed. Hong Kong’s Hang Seng was up 0.08% or 21.72 points at 26,262.74. Singapore’s Straits Times rose 0.64% or 20.78 points at 3,256.88. However ,Taiwan’s Taiwan Weighted fell 0.84% or 75.39 points at 8,888.24.

US Markets:

The Dow Jones industrial average rose almost 48.20 points, half a percent to 13,058.2. The Nasdaq composite index decreased 3.72 or 0.2%, to 2,476.99. The S&P 500 marginally up at 1,413.9.

Market cues:
FIIs net sell USD 21 million in equity on Apr 30
NSE F&O Open Int up by Rs 3511 crore at Rs 66,686 crore