Webinfosys's Stock Market News : Pre Market Session

Indian market is likely to have a flat opening for the day with marginal losses, as most of the market participants are unhappy with RBI''s policy review. Further the global markets are also weak. On Tuesday, the benchmark index Sensex ended up with a loss of 194.16 points to close at 19,783.51, whereas Nifty also closed with a loss of 37.15 points to close at 5,868.75. We expect that the market may trade with volatility. Further, stock specific buying can be seen & profit booking is expected at the later stages.

On Tuesday, the US markets ended marginally low as the Dow Jones Industrial Average (DJIA) ended with a loss of 77.79 points to close at 13,792.47. Further the NASDAQ Composite & S&P 500 (SPX) index also ended down by 0.73 points & 9.96 points at 2,816.71 & 1,531.02 respectively.

Indian ADRs also ended in loss. In telecommunication sector, VSNL & MTNL plunged by (5.72%) & (3.87%) respectively. In Pharma sector, Dr. Redddy''s Lab is down by (1.60%). In Banking sector ICICI bank & HDFC bank fell (3.56%) & (1.47%). Further in Technology sector, Patni Computers decreased by (1.19%), along with Wipro (0.75%) & Infosys (0.75%).

The major stock markets in Asia are trading weak. Hang Seng is trading with a loss of 291.19 points at 31,347.03. Along with this, Japan''s Nikkei is trading lower by 21.16 points to trade at 16,629.85. Singapore''s Straits Times index is also trading down by 9.46 points at 3,788.99 and Seoul Composite lost 5.37 points to trade at 2,047.

Yesterday, the FIIs stood as the net buyers as the gross equity purchased was Rs.4782.80 (in crores), and the gross debt purchased was Rs.16.80 (in crores) as against the gross equity sold was Rs.3735.40 (in crores) and the gross debt sold was Rs.7.90 (in crores). The net investment of equity was Rs.1047.40 (in crores) and the net debt investment was Rs.8.90 (in crores).

Today, Nifty has support at 5,730 and resistance at 5,928 and BSE Sensex has support at 19,570 and resistance at 19,900.

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Webinfosys's Stock News : End Market Session

The market started the day on a strong note but within a span of time, it gave up it gains and started trading with little volatility & cautious approach ahead of the RBI''s review policy. Further in the noon session, the RBI came out with its policy, which stated that the CRR is hiked by 50 bps to 7.5% from 7.0% and the other key rates including the repo and reverse repo rates are remained unchanged. The market continued trading flat with a bit of volatility but no turbulence. It remained unaffected by the new credit policy, as the credit policy is largely inline with street expectations. Finally in the last few minutes, the market ran under heavy selling & the benchmark index Sensex ended up with a loss of 194.16 points to close at 19,783.51, whereas Nifty also closed with a loss of 37.15 points to close at 5,868.75. All the indices ended in red territory except Capital Goods, Metal & Realty. Further, BSE Midcap and BSE Smallcap also closed lower with a loss of 34.47 points and 60.76 points at 8,048.07 & 9,644.44 respectively. The market breadth stood as negative with over 1087 stocks on the advancing side and over 1666 stocks on the decline side.

BSE Capital goods closed with the marginal gain of 158.91 points at 20,006.57. Fueled it up are ABB Ltd with the gain of (5.70%), Jyoti Structures (3.09%), Seimens (2.59%), AIA Engineering (2.51%), and BHEL (1.63%).

BSE Metal also managed to close in green with a gain of 112.48 points to close at 17,302.22. Scrips supported are, Sterlite (6.63%), Jindal Steel (6.47%), & Sesa Goa (2.06%).

BSE Realty stood at the third position as a gainer surged 241.98 points to close at 10,516.99. Scrips gained are DLF Ltd (5.78%), Anant Raj (5.21%), Ansal Infra (2.57%), & Unitech Ltd (1.50%).

BSE Auto stood as the top loser for the day closed lower by 176.54 points at 5,479.89. Scrips dragged the index down are Maruti Suzuki down by (8.46%), Mah & Mah (7.00%), Tata Motors (4.93%), and Punjab Tractors (3.65%).

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Webinfosys's Stock News : Mid Market Session

The market is trading on cautious note, as RBI has increased the CRR by 50bps at 7.5% and left the repo and reverse repo unchanged. The morning trading session started with instant pick up but it took no time to settle down with the cautious feeling of the investors. The banking and auto sector is likely to feel the heat of the hike making the cost of funds costlier. The Mid cap is lower by 2.21 points at 8,080.33 and small cap fell by 10.89 points to 9,694.31.

The overall market breadth looks negative as 1123 stocks are advancing while 1475 stocks are declining on BSE.

At 12.30 pm, BSE Sensex is up by 48.45 points at 19,929.22, while Nifty was high by 17.15 points at 5923.05.

BSE Metal index is gaining by a striking 328.29 points at 17,518.03. Sterlite, Tata Steel and Jindal Steel are moving up by 7.53%, 1.23% and 2.59% at Rs. 1,030, Rs. 912 and Rs. 9,115 respectively. The prices of Nickel, Tin, Copper and Zinc have been rising in LME (London Metal Exchange) and NYME (New York Mercantile Exchange) because of phenomenal demand from industrial users.

BSE CG is gaining by 231 points at 20,078.66. This sector is driven by fundamental strength and one would find it very difficult to gauge the pricing of stocks. But the sector has a very bright future with a strong order book and congenial macro economic environment. L&T and BHEL are gaining by 1.46% at Rs. 4,340.05 and 3.0% at Rs. 2,690.35 respectively.

BSE Auto has lost 116.80 points at 5,539.63. MRF and Hindustan Motors are gaining 10% and 3.24% at Rs. 7,423.50 and Rs. 33.45 respectively. Maruti Suzuki is planning to invest $1.75 billion on R&D and marketing. The company during Q2FY08 recorded a healthy rise of 26.95% in net profit at Rs. 466.5cr over Rs. 367.44cr in the corresponding period of the previous year.

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