The BSE Sensex may look to hit the 15k levels on Tuesday, provided global cues are supportive. Technically as well, 4,550 look to be a strong resistance levels from where the Nifty turned around on Monday.

It was the fourth straight say of gains for Dalal Street as the key indices ended at 9-month high. The rally was led by Realty, Metal and IT stocks. In addition, firm cues from the US, Asian and the European markets also lifted the sentiment.

Finally, the Sensex surged 215 points or 1.4% to close at 14,840 after touching a high of 14,907 and a low of 14,655. The index had opened at 14,746 against the previous close of 14,625.

The NSE Nifty gained 84 points or 1.8% to shut shop at 4,532.

Among the BSE Sectoral indices BSE Realty index was the top gainer surging 5.5%, followed by the BSE Metal index up 5.2%, BSE IT index up 4%, BSE Consumer Durable index up 2.7% and BSE FMCG index up 2.7%.

The BSE Mid-Cap index was up 3% and BSE Small-Cap index added 3.5%.

Hotels stocks hogged the limelight on Monday on speculation that the government would classify them as infrastructure companies subject to lower lending and tax rates.

Stocks like Indian Hotels climbed 16% to end at Rs76.2. the stocks surged the most since April 1992. EIH Ltd surged 15% to Rs140.5. Hotel Leela rallied over 20% to shut shop at Rs39.5 and Taj GVK shot up over 19% to end at Rs111.9.

Shares of M&M gained by over 5% to Rs710 after the company’s total vehicle sales for May were are 15,323 units against 16,756 units for the samemonth last year. Similarly, YTD (Apr-May 2009-10) sales are 36,742 versus 33,659 for the same period previous year.

Total Auto sector sales for the month are 16,866 for the month against 20,653 for the same month last year. Similarly, YTD (April-May 2009-10) sales are 39,870 versus 40,683 for the same period previous year.

Shares of Tata Steel gained by over 7.5% to Rs437 after the company’s UK lenders agreed to reset the terms and conditions for a £3.7bn loan that was taken at the time of the acquisition of Corus. The scrip touched an intra-day high of Rs446 and a low of Rs412 and recorded volumes of over 3.8mn shares on BSE.

Shares of NTPC surged by over 6% to Rs229 after reports stated that the company would sign an agreement with Coal India for setting up a 4,000-MW pithead power plant at Brahmani block near Rajmahal in Jharkhand. The scrip touched an intra-day high of Rs231 and a low of Rs218 and recorded volumes of over 3.5mn shares on BSE.

Shares of Opto Circuit surged by over 6% to Rs177 after the company announced that its arm received USFDA approval for Pulse Oximeter Module. The scrip touched an intra-day high of Rs180 and a low of Rs169 and recorded volumes of over 0.6mn shares on BSE.

The BSE Sensex may look to hit the 15k levels on Tuesday, provided global cues are supportive. For the Nifty technically, 4,550 look to be a strong resistance levels from where the Nifty turned around on Monday. Worries remain over the ballooning fiscal deficit. Locking in some gains is not a bad idea

source: Indiainfoline

Tags: BSE sensex, hot tips, nifty technicals, sensex at 15k, sensex levels, sensex support

Similar Posts:

• Sensex may breach 9k mark
• Bulls run riot…Sensex ends above 15k
• Sensex ends above 14k, Nifty tops 4200
• The Southward journey may continue
• Sensex ends flat after insipid day