Nikunj Stock Brokers

Market Today

What a turn around seen by the markets today. With US giving statments that they would take all required actions to protect the investors. To safe guard share prices and stabilise the market, US govt have put hault on short selling. Short selling is suspended there till 2nd October.

China scrapped stamp duty on stock purchase and curbed short selling, that news helped Shanghai to scale up to 10% in today's trade followed by Hang Seng with a gain of 9.61% at close. The Nikkei was up 3.76%, Taiwan 5.82%, Kospi 4.55%, Straits Times 5.78% and Jakarta 5.82%.

All this positive news became helpful and energetic for our markets as well. The BSE Sensex turned back above 14,000 mark after touching July lows of 12,558.14 this week. It was almost 1500 points rally for the Sensex. It closed at 14,042.32, a gain of 726.72 points or 5.46%.
The NSE Nifty Fifty shot up 207.1 points or 5.13%, to settle at 4245.25. It recovered nearly 446 points from this week's low of 3799.55.

Among the top gainers, Satyam shot up 10.16%, HDFC 8.77%, ICICI Bank 8.72%, Idea Cellular 8.72%, Tata Power 8.42% and DLF 7.78%.

Also the positive news is that FII's have started showing interest back in the market. Today they were net buyers of around 1000 cr.

Global Cues

Stocks spiked Friday afternoon, with the Dow briefly jumping more than 450 points, as the government's actions to help rescue banks from toxic mortgage debt reassured investors at the end of a gut-churning week on Wall Street.
Treasury bond prices plunged as investors bailed out of the safe-haven commodity and poured money into equities. The plunge lifted yields, with the ten-year note hitting 3.77%. Prices and yields move in opposite directions.
The Dow Jones industrial average (INDU) added 440 points, or 4% over 3 hours into the session. The Standard & Poor's 500 (SPX) index jumped 4.6%. The Nasdaq composite (COMP) gained 4%.

Tips

Markets are expected to open around 44oo levels on Monday. Another 5-6% rally is expected before it shows some resistance. As we told earlier that this is the right time to buy stocks(as its getting proved), we maintain are bet on it , to buy A grade stocks but do leave the market around 4500-4600 levels for time being.

The stock suggested such as KSK, NTPC, UCo Bank saw good profits. Rest will follow the suit.

Among stock to pick are HFCL at 13.50, JP Assosicate at 150, RPL at 145 and ICICI bank.

For futher queries and suggestions and other trading related work contact:
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