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Wednesday, July 14, 2010
Post Market Review - July 14 2010
Markets, after opening with a gap up, saw a sustained downward move through the trading session to close in red,
BSE Bulk Deals to Watch - July 14 2010
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
14/7/2010 500003 Aegis Logistics SUNDEEP CREDITS PVT LTD B 109874 441.40
14/7/2010 500003 Aegis Logistics SUNDEEP CREDITS PVT LTD S 106799 434.29
NSE Bulk Deals to Watch - July 14 2010
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
14-JUL-2010,AUSTRAL,Austral Coke & Projects L,SHYAM STOCK & FINANCIERS PVT LTD,BUY,1520810,7.01,-
14-JUL-2010,BAGFILMS,B.A.G Films and Media Ltd,SAFFRON FINANCE LIMITED,BUY,2428998,16.09,-
Pipped at the post, Sensex fails to hold 18K
Today's major news
Inflation rises to 10.55% in June
Larsen & Toubro wins contract worth Rs376 crore; the stock closes 2.49% higher
Housing Development Finance Corporation's Q1 net profit surges 23% yoy; the stock ends 0.47% higher
Market snaps 4-day winning streak on profit booking
The key benchmark indices reversed gains after hitting 29-month highs at the onset of trading session as lower European stocks and a surge in inflation for April 2010 triggered profit taking. The BSE Sensex moved past the psychological 18,000 mark in early trade, but profit booking pulled it below that key level later. The Sensex fell 47.74 points or 0.27%, off close to 229 points from the day's high and up close to 41 points from the day's low.
Market may extend gains on firm Asian stocks; inflation data eyed
The market may extend gains for fourth straight day on firm Asian stocks, which surged after strong earnings reports from US companies. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicated that the Nifty could gain 39 points at the opening bell. The market sentiment remains firm due to stepping up of buying by foreign funds over the past few days. On the macro front, the government will announce the data on inflation based on wholesale prices for the month of June 2010 today, 14 July 2010.
Gap-up start likely; Inflation nos eyed
Headlines for the day:
RIL looks at third shale gas deal in North America
Essar Energy arm to buy Navabharat Power
NTPC's Kudagi ultra mega power project trips again
Risk appetite back in vogue!
Only those who will risk going too far can possibly find out how far one can go." T.S. Eliot.
Nifty captures 5400…Infy drags IT down
The Indian markets ended the day with modest gains on Tuesday extending winning streak to fourth day of gains. A late afternoon burst saw the Indian stocks erase most of the day's losses as sustained strength in Real Estate, Consumer Durables, Metals and Oil & Gas offset weakness in IT and Telecom. However, shares of IT major Infosys slipped after the Bangalore-based company's first-quarter results left investors sour.
Alcoa kicks off earning season in a positive way
Stocks rally as investor sentiments get a boost from the first earning report of the season
Alcoa's earning report boosts metal prices
Prices also get boosted by a weak dollar
Copper prices ended higher at Comex on Tuesday, 13 July 2010. Prices rose following strong earning report from Alcoa and due to weak dollar.
Crude tops $77
IEA projects a rise in oil demand next year
Crude oil prices ended substantially higher on Tuesday, 13 July 2010 at Nymex. Prices rose as market cheered Alcoa's earning report following yesterday's close and also as IEA projected a rise in demand next year. Weak dollar also boosted prices.
Indian ADRs up in higher US markets
US stock markets rose strongly Tuesday as a solid start to the U.S. corporate earnings season from aluminum company Alcoa Inc. helped investors look past a credit rating downgrade of Portugal.
The Dow rose 146.75 points, or 1.44%, to 10,363.02. The Standard & Poor`s 500 index rose 16.59 points, or 1.54%, to 1,095.34, while the Nasdaq composite index rose 43.67 points, or 1.99%, to 2,242.03.
Indian ADRs end higher.
Jaiprakash Power Ventures
We recommend a buy in the stock of Jaiprakash Power Ventures from a short-term trading perspective. It is seen from the charts that the stock was on an intermediate-term downtrend from its June 2009 peak of Rs 103 until it found support around Rs 62 in late May 2010. This level is a long-term support for the stock. Since then, the stock has been on a short-term uptrend. While trending up, it breached 21 and 50-day moving averages successively. Moreover, the stock's 4 per cent jump on July 13 has emphatically penetrated its 200-day moving average and the down trend-line. There has been an increase in volume over the past two trading sessions. The 14-day price rate of change indicator has rebounded into the positive territory and weekly indicator is featuring in this territory implying buying interest. A buy signal in the daily moving average convergence divergence indicator and daily RSI hovering in the bullish zone are other positive factors for the stock. Our short-term outlook on the stock is bullish. We expect the stock to move ahead to hit our price target of Rs 76 or Rs 78 in the approaching trading sessions. Traders with short-term perspective can buy the stock while maintaining stop-loss at Rs 72.
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