Nifty Made New Of Low Of 2011 Of 5116.45, But Closed Above its Previous Low Of 2011 Of 5177.70. Some Postivie Sign For Closing.

Short Term Calls : Future Calls 

Mundraport Looks Good Buy With SL 132, Tgt 145--149--153--159 Or More CMP 138.85 FO ! High Made @ 140.85, Close @ 140.




Market Updates : 

India to post high growth despite week global sentiment: FM

U.S. downgrade to hit commodity prices, panic unlikely

Commodities, except gold, will likely fall when markets open on Monday due to a U.S. ratings downgrade and a worsening debt crisis in Europe but panic shall be avoided.

Bullion should benefit from renewed risk-aversion while outlook for demand for oil, base metals and grains deteriorates.

Strong economic growth in China -- the world's top copper consumer, No. 2 oil user and major buyer of grains -- as well as tight global supplies for some raw materials including coal and iron ore, will provide certain support and some investors may see weakness as a buying opportunity.

AA+ not bad for US, won't impact markets much: Keki Mistry

Standard & Poor's cut US rating to AA+ from triple-A, sending jitters across global markets. But this rating, according to the vice-chairman and chief executive officer of HDFC Keki Mistry, isn't bad.

He doesn't see a dramatic reaction in markets. "I think emerging nations will drop maximum 5-10%," he told CNBC-TV18 in an exclusive interview, adding that India is probably most insulated from global problems.

August (2011) : 
Open : 5544.45
High : 5557.10
Low : 5114.70
Close: 5211.35
Avg. : 5356.90

Yearly (2011) : 
Open : 6202.10
High : 6209.90
Low : 5114.70
Close: 5211.35
Avg. : 5684.51

NIFTY FUTURE 

R5 : 5308
R4 : 5282
R3 : 5260
R2 : 5238
R1 : 5220

CMP: 5211.35

S1 : 5200
S2 : 5178
S3 : 5154
S4 : 5136
S5 : 5114



Sensex, Nifty at 13-1/2-month closing lows on US recession fears

Fears of a possible US double-dip recession and worsening European sovereign-debt woes pushed Indian shares further lower today, 5 August 2011. Global worries spooked the market at a time when investors investing in India are already worried about corporate earnings growth, with interest rates rising. Nevertheless, the market today, 5 August 2011, staged a strong intraday rebound after tumbling to 13-1/2-month low. The barometer index BSE Sensex regained the psychological 17,000 mark after falling below that mark for a brief period in early afternoon trade. The Sensex tumbled 387.31 points or 2.19%, up 314.96 points from the day's low and off 52.31 points from the day's high.

High volatility was hallmark of the day's trading session. NSE's volatility index, India VIX, surged to 24.90% from its close of 20.22% on Thursday, 4 August 2011. The Sensex has tumbled 1,008.46 points or 5.5% in the past four trading days from a recent high of 18,314.33 on 1 August 2011. The Sensex has tumbled 1,565.42 points or 8.29% in nine trading sessions from a high of 18,871.29 on 25 July 2011.

NMDC leads gainers in 'A' group

Petronet LNG, Shriram Transport Finance Company, HPCL and JSW Steel are among the other gainers.

State-run mining company NMDC spurted 3.16% to Rs 246.60. The stock topped thegainers in the BSE's 'A' group.

Petronet LNG, which is engaged in regasification of liquefied natural gas (LNG), rose 2.84% to Rs 173.85. The stock was second biggest gainer in 'A' group.

Non-banking finance company Shriram Transport Finance Company jumped 2.72% to Rs 607.60. The stock was third biggest gainer in 'A' group.

State-run oil marketing company HPCL galloped 2.6% to Rs 402.60 as lower crude oil prices could reduce under-recoveries on domestic sale of diesel, LPG and kerosene at government controlled prices. The stock was fourth biggest gainer in 'A' group. The company will announce Q1 June 2011 results on 12 August 2011.

Steel producer JSW Steel rose 2.25% to Rs 700.50. The stock was fifth biggest gainer in 'A' group. The company, during trading hours on Thursday, 4 August 2011, denied theconclusions drawn in a report by the Lokayukta -- Karnataka's anti-graft watchdog -- against the company on procurement and transportation of iron ore in the state.

Bank of New York Mellon, citing an overwhelming influx of cash deposits from large clients in reaction to world economic events, on Thursday 4 August 2011, said it will begin passing along some insurance fees on selected accounts that exceed a depositor's prior monthly average. The bank, one of the largest custodial banks in the world, said it would impose a fee on above-average deposits made by institutional customers, because the deposits could weaken its capital position and raise its deposit insurance premiums.

The Bank of Japan announced additional monetary easing Thursday, 4 August 2011, while keeping its policy interest-rate target range unchanged at 0 to 0.1%.

Trading in US index futures indicated that the Dow could fall 52 points at the opening bell on Friday, 5 August 2011. The US government's key monthly jobs report for July 2011 is due today, 5 August 2011, and will be closely watched by investors. Economists are expecting that the US likely gained 75,000 jobs last month.

"It should be an orderly decline, nothing to panic about. The important thing now is that confidence doesn't slip too far," said Citigroup analyst David Thurtell.

Standard & Poor's cut the long-term U.S. credit rating to AA-plus on Friday, a move that over time could ripple through markets by pushing up borrowing costs and making it more difficult to secure a lasting recovery.

Note : Data From Capital Market.com.

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