Nikunj Stock Brokers
Markets Today
Tuesday saw a huge rise in the market thanks to huge drop in crude prices which saw crude fell to nearly 105$/barrel but recovered a little to close at 109$/barrel. Nifty rose sub 4500 level to end up at 4504(3.57% up) and BSE rose up sub 15000 level to close up at 15049 pts (3.57%). What was worth noticing is that all the stocks ended up in the green.
Biggest contributors for this surge were ONGC, Reliance Industries, SBI, DLF, ICICI Bank, L&T, Bharti Airtel, and Reliance Communication.
Crude has hit a 5-month low of USD 105.46 a barrel on the NYMEX as Hurricane Gustav fizzled out. It was trading at USD 108.13 a barrel, down over USD 7/bbl, at the time of writing market report. The US markets are currently flat and NASDAQ is 1.52 pts up at 2351 and Dow is completely flat.
Top Gainers on the Sensex
Stock Name
Close Price
Change %
SBI
1521.35
7.44
ICICI Bank
713.3
7.34
DLF
529.85
7.14
ONGC
1101.55
6.97
Jaiprakash Asso
173.65
6.83
Reliance Infra
1041.7
5.99
Maruti Suzuki
664.45
4.84
HDFC
2445.15
4.66
Larsen
2680.7
4.63
TCS
848.8
4.23
Amongst frontliners, SBI shot up 7.44%, ICICI Bank 7.34%, DLF 7.14%, ONGC 6.97%, Unitech 6.97% and Jaiprakash Associates 6.83%. However, Cairn India plunged 5.76%, Ranbaxy Labs -1.89% and Tata Motors -1.82%.
Realty Index outperformed other indices, jumped 367.29 points or 7.35% to close at 5,367.27. HDIL, Indiabulls Real, Unitech, DLF and Sobha Developer were up 6-16%.
Banking stocks like Kotak Mahindra, IOB, SBI, ICICI Bank and Union Bank gained 6-9.6%. Bankex shot up 425.17 points or 6.06% to 7,446.52.
Capital Goods Index rose by 439.46 points or 3.7% to 12,303.24 due to buying in Siemens, Jyoti Structure, L&T and BHEL, which were up 3.5-5.5%.
Power stocks also charged up. Reliance Infra, Suzlon Energy, Power Grid Corp, GMR Infra and Tata Power gained 3-6%. Index jumped 3.62% to 2,686.41.
Markets in India are closed today dus to Ganesh Chatruthi.. NIFTY may rose to 4600 in coming few days.
Biggest contributors for this surge were ONGC, Reliance Industries, SBI, DLF, ICICI Bank, L&T, Bharti Airtel, and Reliance Communication.
Crude has hit a 5-month low of USD 105.46 a barrel on the NYMEX as Hurricane Gustav fizzled out. It was trading at USD 108.13 a barrel, down over USD 7/bbl, at the time of writing market report. The US markets are currently flat and NASDAQ is 1.52 pts up at 2351 and Dow is completely flat.
Top Gainers on the Sensex
Stock Name
Close Price
Change %
SBI
1521.35
7.44
ICICI Bank
713.3
7.34
DLF
529.85
7.14
ONGC
1101.55
6.97
Jaiprakash Asso
173.65
6.83
Reliance Infra
1041.7
5.99
Maruti Suzuki
664.45
4.84
HDFC
2445.15
4.66
Larsen
2680.7
4.63
TCS
848.8
4.23
Amongst frontliners, SBI shot up 7.44%, ICICI Bank 7.34%, DLF 7.14%, ONGC 6.97%, Unitech 6.97% and Jaiprakash Associates 6.83%. However, Cairn India plunged 5.76%, Ranbaxy Labs -1.89% and Tata Motors -1.82%.
Realty Index outperformed other indices, jumped 367.29 points or 7.35% to close at 5,367.27. HDIL, Indiabulls Real, Unitech, DLF and Sobha Developer were up 6-16%.
Banking stocks like Kotak Mahindra, IOB, SBI, ICICI Bank and Union Bank gained 6-9.6%. Bankex shot up 425.17 points or 6.06% to 7,446.52.
Capital Goods Index rose by 439.46 points or 3.7% to 12,303.24 due to buying in Siemens, Jyoti Structure, L&T and BHEL, which were up 3.5-5.5%.
Power stocks also charged up. Reliance Infra, Suzlon Energy, Power Grid Corp, GMR Infra and Tata Power gained 3-6%. Index jumped 3.62% to 2,686.41.
Markets in India are closed today dus to Ganesh Chatruthi.. NIFTY may rose to 4600 in coming few days.
Breaking News
The Bush administration has told the US Congress that Washington will terminate nuclear trade with India if New Delhi conducts a nuclear test, and the same assurance should be written into any Nuclear Suppliers Group (NSG) green signal to India, Washington's non-proliferation lobby asserted on Tuesday. It is seen as a last ditch effort to save White House.
Following this Prime Minister has hold a cabinet meeting at 8.30 to discuss what further steps to be taken. So market would open in red tommorrow morning. Also if deal falls the NIFTY may reach 4000 levels again. Keep your fingers crossed. The result of meeting is still awaited.
Stocks to be picked for tomorrow
1.Tata Motors, Short it Target-375 Day target-400.
CMP- 429
Due to closure of Nano Power Plants in Singur which had investement around 1500cr due pressure from MAMTA BANEERJI and farmers there. The share of the company is expected to drop to Rs 400 tomorrow.
2. Buy Kalpataru Power; Tgt Rs 1030
CMP- 814
As per media reports, Road and Transport ministry has modified bidding regulation for road contracts, primarily to check cartelization. We believe it could be negative for aggressive infrastructure companies, having restriction in number of bidding. On the other hand, the competition (which is intense currently) is likely to moderate marginally and give some relief to margin of companies in this space. We believe Kalpataru Power Transmission (KPTL) through its subsidiary JMC projects is active player in infrastructure space. Hence the new regulation could adversely impact order book flow of the company in future. However, the order book of JMC projects is tilted towards building and industrial infrastructure. We retain our estimates of KPTL for FY09 and FY10 and rate it as buy with a price target of Rs 1030."
3. Buy RPL, target Rs 300
CMP-160
The production of is going to start in September and the prices of the stock is expected to rose up significantly once production starts. This is surely a stock to buy now.
Stocks to be picked for tomorrow
1.Tata Motors, Short it Target-375 Day target-400.
CMP- 429
Due to closure of Nano Power Plants in Singur which had investement around 1500cr due pressure from MAMTA BANEERJI and farmers there. The share of the company is expected to drop to Rs 400 tomorrow.
2. Buy Kalpataru Power; Tgt Rs 1030
CMP- 814
As per media reports, Road and Transport ministry has modified bidding regulation for road contracts, primarily to check cartelization. We believe it could be negative for aggressive infrastructure companies, having restriction in number of bidding. On the other hand, the competition (which is intense currently) is likely to moderate marginally and give some relief to margin of companies in this space. We believe Kalpataru Power Transmission (KPTL) through its subsidiary JMC projects is active player in infrastructure space. Hence the new regulation could adversely impact order book flow of the company in future. However, the order book of JMC projects is tilted towards building and industrial infrastructure. We retain our estimates of KPTL for FY09 and FY10 and rate it as buy with a price target of Rs 1030."
3. Buy RPL, target Rs 300
CMP-160
The production of is going to start in September and the prices of the stock is expected to rose up significantly once production starts. This is surely a stock to buy now.
For futher queries and suggestions and other trading related work contact:
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