All eyes on RBI

Quotes with Resistance & Support

Market Information

This article was posted on Jan 24, 2009 and is filed under Press Releases

With an extended weekend ahead of us, all eyes would be on the RBI policy on the 27th Jan Tuesday. Markets yet again ended the trading session with losses on Friday led by fall in the index heavyweights like ICICI Bank, SBI, Infosys and L&T. The BSE benchmark Sensex slipped 139 points to close at 8,674 and the Nifty lost 35 points to close at 2,678.

Among the 30-components of Sensex, 26 stocks ended in the red and only 4 stocks ended in the positive terrain. Among the major laggards in Sensex were ICICI Bank, SBI, Infosys and L&T.

Among the major gainers were Reliance Industries, Tata Motors, NTPC, Ranbaxy and Hindalco.

Among the BSE Sectoral indices BSE Bankex index was the top loser, the index lost 3.8%. Among the other losers were BSE Metal index (down 3.1%), BSE Capital Goods index (down 2.8%) and BSE Realty index (down 2. 7%). Even BSE Mid-cap and the BSE Small-Cap index lost over 1.5% each.

Pfizer rallied by over 6% to Rs514 after reports stated that US pharma giant Pfizer is believed to be in talks to acquire rival American drugmaker Wyeth for about US$60bn. The scrip touched an intra-day high of Rs528 and a low of Rs481 and recorded volumes of over 13,000 shares on BSE.

Crompton Greaves slipped by 1% to Rs129. The Company posted a net profit from ordinary activities after tax of Rs847.7nm for the quarter ended December 31, 2008 as compared to Rs679mn for the quarter ended December 31, 2007.

Total Income has increased from Rs9,290.6mn for the quarter ended December 31, 2007 to Rs1,0882.7nm for the quarter ended December 31, 2008. The scrip touched an intra-day high of Rs131 and a low of Rs125 and recorded volumes of over 1,00,000 shares on BSE.

Canara Bank plunged by over 14% to Rs174 on rumors that it had exposure in Maytas Infrastructure. However, later the management clarified there would be no major impact.

The bank posted a net profit of Rs7,015mn for the quarter ended December 31, 2008 as compared to Rs4,588.30mn for the quarter ended December 31, 2007.

The total income increased from Rs40.97bn for the quarter ended December 31, 2007 to Rs53.82bn for the quarter ended December 31, 2008. The scrip touched an intra-day high of Rs212 and a low of Rs167 and recorded volumes of over 25,00,000 shares on BSE.

L&T slipped 3.5% to Rs640. Larsen & Toubro (Oman) LLC, secured major orders cumulatively valued at Rs.11.98bn. The orders cover construction of a hotel and apartments for the 2nd Asian Beach Games, a mosque and underground cabling.

The 2nd Asian Beach Games complex is being developed by Oman Tourism Development Company – the government of Oman’s tourism development, and its investment arm. The project comprises construction of a hotel, marine apartment buildings, administrative buildings for the Games and an athletes’ village. All these projects are scheduled to be completed in less than two years.

The scrip has touched an intra-day high of Rs668 and a low of Rs637 and has recorded volumes of over 12,00,000 shares on BSE.

Shares of Gujarat Apollo gained by over 3.5% to Rs57 after almost 6% equity shares changed hands in blocks. The scrip touched an intra-day high of Rs60 and a low of Rs52 and recorded volumes of over 85,00,000 shares on BSE.

Reliance Industries gained 2% to Rs1153 after reporting earning. The scrip has touched an intra-day high of Rs1335 and a low of Rs1120 and has recorded volumes of over 2,00,000 shares on NSE.

The company announced its financial results for the fiscal third quarter with net profit at Rs35.01bn compared to Rs38.82bn in the same quarter last year. Net sales for the quarter ended December 31, 2008 stood at Rs315.63bn as against Rs345.90bn in the third quarter of last year. The company posted other income of Rs6.63bn against Rs2.41bn in the third quarter of last year.

The scrip touched an intra-day high of Rs1174 and a low of Rs1120 and has recorded volumes of over 20,00,000 shares on BSE.

source: IndiaInfoline

Tags: calls, daytrading, free calls, intraday, tips