@ 78 TARGET 100 – 110 –  TODAY ITSELF & 139 in 2-3 DAYS …. 

Category : Market Commentary
Headline : Mid Session Market
Date : Jun-22-2011 12:32
Afternoon  indices showed high volatility with certain ups and downs, while currently hovering near the base line. The market failed to maintain the bright opening in early morning trade which came after winning the confidence vote by Greek Prime Minister George Papandreou and dipped down into negative terrain. This was on the back of the announcement of low monsoon expectation in 2011 by Indian Meteorological Department that led the market to touch day’s low. Currently market is trading in positive terrain and trying to recover from the lows.The broader market indices are trading negative as BSE Mid Cap low by 0.25% while BSE Small Cap low by 0.29%. The key benchmark indices are trading at BSE 30-share Sensex near the 17,560 mark, while Nifty is trading near the 5,280 mark.

At 12:27PM BSE SENSEX was at 17572.67 up by 12.37 points or by 0.07 % and then NSE Nifty was at 5279.15 up by 3.3 points or by 0.06 %.

The BSE MIDCAP was at 6565.94 down by -18.03 points or by -0.27 %. While the BSE SMLCAP was at 7852.79 down by -21.35 points or by -0.27 %.

The BSE Sensex touched intraday high of 17,678.86 and intraday low of 17,524.51 The NSE Nifty touched intraday high of 5,310.5 and intraday low of 5,269.7 On the economic front, the Indian Meteorological Department (IMD) said that the rainfall in 2011 particularly during June to September is most likely to be below normal (90-96% of LPA),

On the corporate front, Dr Reddy’s Laboratories has launched a bio equivalent of Levaquin tablets in the US market on June 20,2011 after the approval from United States Food & DrugAdministration (USFDA) of Dr Reddy’sANDA for Levofloxacin tablets. Company said in an announcement on Wednesday. The stock of Dr. Reddy’s Laboratories is currently trading at Rs. 1,508.00 low by 0.41%.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2647, shares advanced were 1019 while 1502 shares declined and 126 were unchanged.

The top losers of the BSE Sensex pack were Bharti Airtel Ltd. (Rs. 379.65,-2.85%), Hindustan Unilever Ltd. (Rs. 316.50,-2.00%), Jindal Steel & Power Ltd. (Rs. 611.95,-1.60%), Maruti Suzuki India Ltd. (Rs. 1133.85,-1.10%), Tata Consultancy Services Ltd. (Rs. 1093.00,-1.01%), among others.

In BSE, BSE_CDS index was at 6470.81 down by -173.82 points or by -2.62%. Titan Industries Ltd. (Rs. 4388.70,-4.03%), Gitanjali Gems Ltd. (Rs. 277.50,-2.85%), Videocon Industries Ltd. (Rs. 173.90,-2.71%), Blue Star Ltd. (Rs. 306.00,-1.43%), Whirlpool of India Ltd. (Rs. 248.00,-1.08%),.

In BSE, BSE_FMCG index was at 3727.87 down by -32.64 points or by -0.87%. Hindustan Unilever Ltd. (Rs. 316.10,-2.12%), Dabur India Ltd. (Rs. 111.70,-1.93%), Marico Ltd. (Rs. 141.00,-1.12%), ITC Ltd. (Rs. 183.30,-0.95%), Tata Global Beverages Ltd. (Rs. 91.55,-0.92%),.

The leading Asian bourses are trading high as Nikkei 225, Hang Seng, Shanghai Composite and Straits Times trading up by 1.79%, 0.56%, 0.18% and 1.19% respectively.

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