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Old 04-05-2010, 04:34 AM
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Default Sen*** hits 17800;banks,realty,oil&gas gain

MUMBAI: Indian markets opened on a firm note Monday taking cues from Asian peers after an extended weekend. However some profit booking at

Top gainers, losers & recos

resistance levels is not ruled out. ( Watch )

“The cautious view on the market continues as the negative divergence is still in place. Nifty is likely to face a stiff resistance around 5330, the top made on Monday. On the downside, 5235, the low made on Wednesday, is now a crucial support, a breach of which can take the benchmark to around 5170, where a trend line adjoining bottoms of 8th and 25th Feb presents a support.

Traders need to be nimble footed and keep a strict stop loss of 5235 in long positions. Only a decisive close above 5330 along with the support of RSI will make the view turn bullish. Meanwhile, concentrate on mid-cap and small-cap stocks which were underperformers in the earlier rally and might chart their own course,” said Anagram Stock Broking note.

At 9:07 am, Bombay Stock Exchange’s Sen*** was at 17801.95, up 109.33 points or 0.62 per cent. The index touched a high of 17810.50 and low of 17693.66 in early trade.

National Stock Exchange’s Nifty was at 5321.80, up 31.30 points or 0.59 per cent. The broader index hit a high of 5330.60 and low of 5291.40 in trade so far.

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BSE Midcap Index was up 0.62 per cent and BSE Smallcap Index moved 0.84 per cent higher.

Amongst the sectoral indices, BSE Bankex was up 0.97 per cent, BSE Realty Index advanced 0.83 per cent and BSE Oil&gas Index moved 0.81 per cent up.

ICICI Bank (1.93%), Bharti Airtel (1.69%), Jaiprakash Associates (1.43%), Tata Steel (1.18%) and HDFC Bank (1%) were amongst the major Sen*** gainers.

Infosys (-0.75%), TCS (-0.43%), BHEL (-0.42%), Wipro (-0.12%) and NTPC (-0.10%) led the decline.

Market breadth was positive on the BSE with 1352 advances and 352 declines.

Meanwhile, the Dow Jones Industrial Average climbed 70.44 points, or 0.65 per cent, to end at 10,927.07. The Standard & Poor's 500 Index rose 8.67 points, or 0.74 per cent, to finish 1,178.10. The Nasdaq Composite Index was the session's laggard, adding 4.62 points, or 0.19 percent, to 2,402.58.

Asian counters traded with decent gains Monday as US jobs data fuelled hopes of a smart recovery. The Nikkei climbed 0.57 per cent, Topix advanced 0.66 per cent, Hang Seng surged 1.4 per cent and Straits Times rose 0.59 per cent.
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