Falling for the first time in five sessions, the BSE Sensex today fell to levels 30 months losing 62 points to close at 20,223.98 on profit booking recent winners in healthcare, consumer durables and banking .
After a steady start, Sensex touched intraday high of 20,443.62 but emergence of profit selling in ICICI Bank BSE -0.08%, ONGC, Bharti Airtel BSE -0.97%, Dr Reddys, Cipla and RIL dragged 30-share index to end 20223.98, a fall of 62.14 points, or 0.31 percent. HDFC Netbanking
This is the first time in five sessions the Sensex ended in the negative terrain. He had climbed 595 points in the four sessions to reach the highest level since January 2011. HDFC Netbanking
According to Dipesh Dedhia, main themarkets.in technical analyst, the Nifty is likely to continue to travel on the rise with a profit sessions and traders can expect intermediate booking more advantages in at least four Nifty stocks.
Nifty - HDFC Netbanking
Last week, we saw the Nifty closing above its January 2013 high of 6,111, which is a positive sign. In the coming days, the number can go up to 6337 which is his superior in November 2010 and can then try to rape in January 2008 high of 6,357. Profit booking can be expected at these levels.
Between the two, an intraday correction or correction of a day to level from 6.120 to 6.045 act as buying opportunity. Trend will reverse if the Nifty closes below 5970 levels. We expect the Nifty remain sideways with positive bias this week.
Last week, the stock made a bullish flag on the daily chart. The model suggests that the stock price may rally to Rs 1,580 levels in the short term. Traders can buy the stock on the dip to Rs 1.505 to 1.515 while keeping a stoploss of Rs 1,468.
HDFC Bank BSE -0.92% is one of the performers on the Bank Nifty. Last week, we saw, he gave a major breakthrough on the weekly chart. We recommend buying the stock at Rs 710-715 levels with a stoploss of Rs 700 on a closing basis for a target of Rs 740. HDFC Netbanking
Maruti SuzukiBSE -2.63%
A close above Rs 1,765 would confirm an upside breakout and we expect the stock to test levels of Rs 1.800 to 1.820.
M & M
The stock is one of the greatest performers in the automotive sector. The movement today rising above Rs 1,010 levels confirms its breakthrough on the daily chart. We expect the stock to rally 4-5 percent in the coming trading sessions.
ICICI Bank hits 52 weeks
Key benchmark indices trimmed gains after hitting fresh intraday high in afternoon trade. The BSE Sensex S & P, up 29.87 points from low and off 128.28 points from the day’s high of the day. Index heavyweight and cigarette major ITC slightly lower. Another index heavyweight Reliance Industries (RIL) slightly higher in choppy trade. The market breadth, indicating the overall health of the market, was negative. Pivotals bank were generally lower. But ICICI Bank has reached 52 weeks. HDFC Netbanking
The market swung between gains and losses in early trade. He slipped into the red to positive territory in morning trading. He hit fresh intraday low in mid-morning trade. He trimmed losses in early afternoon trade. The barometer index, the BSE Sensex and the S & P CNX Nifty 50 units pared gains after hitting their lowest level in nearly a week. Key benchmark indices trimmed losses after falling to new intraday lows in afternoon trade. He trimmed gains after hitting fresh intraday high in afternoon trade.
Foreign institutional investors (FIIs) bought shares worth a net Rs 753.37 crore Monday, May 18, 2013, according to provisional data from the stock exchange.
At 2:20 p.m. IST, the BSE Sensex S & P is up 32.94 point or 0.18% to 20,261.12. The index rose 84.06 points at the day’s high of 20,308.05 in afternoon trade. The index fell 93.37 points at the day’s low of 20,130.61 in the afternoon trade, its lowest level since 15 May 2013. HDFC Netbanking
The CNX Nifty was up 5.15 point or 0.08% to 6162.05. The index hit a high of 6,180.25 in intraday trade. The index hit a low of 6,119.70 in intraday trade, its lowest level since 15 May 2013.
The market breadth, indicating the overall health of the market, was negative. On BSE, 1220 shares declined and 938 shares rose. A total of 138 shares were unchanged. HDFC Netbanking
Among the 30 shares Sensex pack, 20 stocks fell and the rest of them rose. NTPC, Tata Motors and Maruti Suzuki India shed 1.89% to 2.8%. Coal India, Infosys and Bhel rose 1.44% to 2.31%.
Index heavyweight Reliance Industries (RIL) rose 0.75% to Rs 837.10. The stock hit a high of Rs 839.50 and low of Rs 825.35 so far during the day.
Index heavyweight and cigarette major ITC fell 0.27% to Rs 333.75. The stock hit a high of Rs 335.20 and low of Rs 329 so far during the day. The stock had hit a record high of Rs 355 in intraday trade on 11 May 2013. The net profit of the company rose 19.43% to Rs 1927.98 crore on 19.12% growth in total income to Rs 8511.38 crore in Q4 March 2013 More Q4 March 2012. The result was announced on 17 May 2013. Net income for the ITC increased 20.38% to Rs 7418.39 crore on 18.74% growth in total income of Rs 30,839.97 rupees for the year ended March 2013 Over the year ended March 2012. HDFC Netbanking
On a consolidated basis, net profit of ITC rose 21.57% to Rs 7608.07 crore on 19.02% growth in total income to Rs 32505.14 rupees for the year ended March 2013 More the year ended March 2012.
The Board of Directors of ITC at its meeting Friday, May 17, 2013, recommended a dividend of Rs 5.25 per share for the year ended March 31, 2013.
Pivotals bank were generally lower. HDFC Bank fell 0.08% to Rs 714. The stock had hit a record high of Rs 724 success in intraday trade on 20 May 2013.
Shares of the largest commercial bank in India in terms of branch network, State Bank of India (SBI) fell 0.38%.
ICICI Bank rose 2.02% to Rs 1233.05. The stock reached 52 weeks of Rs 1234 in intraday trade today, 21 May 2013. The bank after the trading hours on 16 May 2013, said he has received a total capital repatriation invested capital of 75 million Canadian dollars ICICI Bank Canada and its wholly owned banking subsidiary in Canada. Post repatriation, capital of ICICI Bank Canada is the Canadian dollar 857 million and the capital adequacy ratio continues to be strong, ICICI Bank said in a statement. HDFC Netbanking
ICICI Bank said it already has a strong capital adequacy ratio and capital repayment of the subsidiary will improve the ability of the bank to optimize the deployment of capital and return on equity. .
According to the schedule of Q4 results, L & T unveils Q4 results tomorrow, May 22, 2013. Tata Steel, State Bank of India and Bharat Heavy Electricals (Bhel) will announce Q4 results, Thursday, May 23, 2013. Coal India unveils consolidated fiscal 2013 results May 27, 2013. Sun Pharma, Power Grid Corporation of India, DLF, GAIL (India) and Hindalco Industries unveil Q4 results on May 28, 2013. Tata Motors, ONGC, NMDC and BPCL unveil Q4 results May 29, 2013. M & M and Tata Power unveil Q4 results May 30, 2013.
Global rating agency Standard & Poors (S & P) on Friday, May 17, 2013, confirmed the sovereign rating of India at least BBB-with a negative outlook, noting that there was a chance-three chance a rating downgrade over the next 12 months. S & P said the government’s ability to support investment growth remains uncertain. However, the rating agency said that it was possible to upgrade the sovereign ratings if the government releases the public and private investment to stimulate economic growth. HDFC Netbanking
Monsoon rains can occur on the south coast about June 3, 2013, forecasts the weather office May 15, 2013. Rainfall ranging from June to September, are vital for the 55% of agricultural land without irrigation in India, one of the largest producers and consumers around the world for food. The India Meteorological Department (IMD) has predicted normal rains this year.
The Reserve Bank of India (RBI) undertakes mid-quarter monetary policy June 17, 2013. RBI governor D Subbarao May 14, 2013 said that the central bank will take note of falling inflation during the discussion of the potential reductions in interest rates. The RBI on May 3, 2013 has reduced its key rate namely politics. the repo by 25 basis points (bps) to 7.25% rate and kept the cash reserve ratio (CRR) for banks unchanged at 4%, after a review of the monetary policy. RBI said at the time that the balance of risks arising from evaluation of the dynamics of growth-inflation provides little room for further monetary easing. The RBI said that the statement of changes in inflation will work to a level of 5% in March 2014, using all the instruments at its disposal.
The Ministry of Finance in October 2012 announced a five-year plan to reduce the budget deficit. The government hopes to reduce the budget deficit to 3% in March 2017. HDFC Netbanking
European stock markets nudged lower on Tuesday, taking a break after climbing to multi-year highs in the session yesterday. Major benchmark indices in France and Germany were down 0.08% to 0.35%. FTSE 100 in the UK increased by 0.15%.
Most Asian stocks fell Tuesday for a five-year high as investors weighed the pace of Federal Reserve stimulus efforts. Key benchmark indices in Indonesia, Hong Kong, Singapore and South Korea fell by 0.07% to 0.84%. Key benchmark indices in China, Japan and Taiwan have increased from 0.07% to 0.22%.
Akira Amari Economy Minister of Japan said today in Tokyo that the yen is too strong being corrected and hope that the exchange rate has stabilized at a level appropriate to the economic fundamentals of the nation.
Trading in U.S. index futures indicated that the Dow could gain 10 points at the opening bell, Tuesday, May 21, 2013. U.S. stocks took a break from their recent rally on Monday as declines in some of the best performing sectors of the year weighed on benchmarks. HDFC Netbanking
Chicago Federal Reserve President Charles Evans said yesterday that the U.S. economy is “much improved.” Investors looking forward to Wednesday, May 22, 2013, when the Federal Reserve Ben Bernanke will testify before Congress and the Fed will release the minutes of its latest policy-setting meeting.
Indian ADRs: ICICI Bank, HDFC Netbanking down to STERLITE
Indian ADRs ended lower on Monday. In the banking space, HDFC Bank fell 1.4 percent to $ 42.39 and ICICI Bank moved down 1.36 percent to $ 47.73.
In the IT space, Wipro was down 1.27 percent to $ 7.78 and Infosys lost 0.55 percent to $ 43.12. In the telecom space, Tata Communication declined 0.12 percent to $ 8.04.
Among other things, Sterlite rose 1.7 percent to $ 7.19 while Dr Reddys fell 0.71 percent to $ 37.66 and Tata Motors fell 0.5 percent to $ 27.73.