Stock Market is live

Sensex maintains tempo; TCS, ONGC, RIL lead

2011-03-31T06:34:00.001-07:00

Indian equity benchmarks have enthusiastically been maintained the tempo for the eighth straight session at 10:35 hours, especially ahead of expiry today. With the consistent inflow of funds from foreign institutional investors (FIIs), it seems that the 50-share NSE Nifty is set to close the March series above the 5800 level.

FIIs were net buyers to the tune of nearly Rs 5,000 crore since March 22. “Foreign investors are now looking for signals which show that there is positive news coming out from a macro front or from the governance issues that we are facing,” Nitin Rakesh of Motilal Oswal said.

He says that India has been one of the best performing markets from a global perspective. “It’s ironical that with all the news coming out of Japan etc, we have still performed well. Obviously, there is some amount of value buying coming in.”

Mitesh Thacker, Technical Analyst of miteshthacker.com is expecting strength in the market to continue for some time and may even touch as high as 6100.

The 30-share BSE Sensex was trading at 19,406, up 116 points and the 50-share NSE Nifty gained 34 points at 5,821 amid a bit of volatility.

All sectoral indices were in green barring auto. The BSE IT, Capital Goods, Oil & Gas, Realty, FMCG, Power and Bank indices gained 0.5-1%.

India's largest IT services exporter TCS' shares gained more than 2%. Heavyweights like ONGC, Reliance Industries, Infosys, NTPC, ITC, L&T, ICICI Bank, BHEL and HDFC Bank moved up 1-2%.

However, Bharti Airtel, M&M, Wipro, Tata Motors, Reliance Communications, Sterlite, Maruti, Hindalco and Reliance Infrastructure were losers in trade, which capped the gains. SBI too was down.

In midcap space, Bajaj Corp, Hathway Cable, Havells India, Uttam Galva and Sobha Developer rallied 5-10% while KGN Industries, Shree Global, Carborundum, JM Financial and Himadri Chemical lost 3-5%.

In smallcap space, AP Paper Mills was locked at 20% upper circuit for second straight day. KNR Construction, SML Isuzu, Kanani Industries and Ind-Swift Labs were up 8-17%. However, Rossell Tea, Chromatic India, R M Mohite, Lloyds Metals and Fame India fell 5-6%.

About 1302 shares advanced as against 836 shares declined on the Bombay Stock Exchange.

Perfect Trading Tips

2011-03-30T22:30:00.001-07:00

Do not overtrade.
Do not trade on rumors.
Do not trade in all stocks of one sector.
It's better to buy the wrong stocks at the right time than to buy the right stocks at the wrong time.
Trade with the trends rather than trying to pick tops and bottoms.

As long as a market is acting right, don't rush to take profits.

Don't buy something because it is low priced.

Money cannot be made everyday from the markets.

Avoid making average, when stock is coming down.

Don't watch or trade too many stocks at once.

Keywords

2011-03-30T22:04:00.000-07:00

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