Short Term Calls : Future Calls 

NO CALLS FOR DAY !



Market Updates : 

Sensex drops 4% in six days on earnings growth worries

Weak global stocks dragged Indian shares to 5-1/2-week closing lows. The BSE Sensexwas down 204.44 points or 1.12%, up close to 70 points from the day's low and off close to 175 points from the day's high. Index heavyweight Reliance Industries came off the 52-week low. The market sentiment remains edgy, with investors worried that higher interest rates will crimp corporate profit growth. A number of commercial banks have raised lending rates recently after the central bank raised its key lending rate by 50 basis points at a policy review early last week.

The Sensex has tumbled 761.40 points or 4.03% in six trading sessions from a recent high of 18,871.29 on 25 July 2011, hit by the Reserve Bank of India's (RBI) aggressive rate hike at a policy review on 26 July 2011.

The market breadth was weak. Metal stocks fell as metal prices declined on the London Metal Exchange on Monday, 1 August 2011. JSW Steel and Sail hit 52-week lows. Realty stocks fell on worries that higher interest rates could dent demand for residential andcommercial property. Bank shares dropped on worries that higher lending rates will crimp loan growth. IT stocks fell on weak economic data in the US. US is the key market for Indian IT firms. Bharti Airtel fell ahead of Q1 results tomorrow, 3 August 2011.

World stocks dropped on Tuesday, 2 August 2011, on euro-zone debt worries and on fresh indications US manufacturing is slowing. Concerns have also surfaced over the adverse implications of the large spending cuts in the US, the world's biggest economy.

August (2011) : 
Open : 5544.45
High : 5557.10
Low : 5433.15
Close: 5466.50
Avg. : 5500.30

Yearly (2011) : 
Open : 6202.10        
High : 6209.90      
Low : 5175.10      
Close: 5466.50
Avg. : 5763.40

NIFTY FUTURE 

R5 : 5560
R4 : 5536
R3 : 5518
R2 : 5498
R1 : 5480

CMP: 5466.50

S1 : 5448
S2 : 5426
S3 : 5412
S4 : 5400
S5 : 5378



More Update :

RCF leads gainers in 'A' group

National Fertilisers, Adani Enterprises, Castrol India and Chambal Fertilisers & Chemicals are among the other gainers.

Fertilizer shares dominated gainers in BSE's 'A' group today, 2 August 2011, on reports the Committee of Secretaries will meet the Finance Minister on Friday, 5 August 2011, to discuss urea price decontrol. State-run Rashtriya Chemicals and Fertilisers (RCF) spurted 8.51% to Rs 80.35. The stock topped the gainers in the BSE's 'A' group.

The government has already freed potassic and phosphoric fertilisers with the introduction of NBS (nutrient-based Subsidy Scheme) with effect from April 2010. However, it kept price and movement of urea under control, which consists of nearly half of India's total fertilizer consumption.

National Fertilisers rose 5.88% to Rs 90.95. The stock was the second biggest gainer in 'A' group. Chambal Fertilisers & Chemicals rose 3.37% to Rs 92.05. The stock was the fifth biggest gainer in 'A' group.

Commodity trading company Adani Enterprises jumped 4.99% to Rs 669.60, extending Monday's (1 August 2011) 8.82% spurt triggered by the company's clarification that it had no links with alleged illegal mining in Karnataka and that it had no iron ore mining interest. The company made the clarification on Saturday, 30 July 2011. The stock was third biggest gainer in 'A' group today.

Shares of Adani Enterprises had plunged 20.97% to settle at Rs 586.10 on Friday, 29 July 2011, hit by Karnataka Lokayukta's report on alleged illegal mining in Karnataka. Santosh Hegde, the anti-corruption investigator of Karnataka, sent a report to the government on 27 July 2011, naming political leaders, companies and officials involved in a mining scam that may have cost the southern state Rs 16000 crore in lost revenue. The Supreme Court, last week, banned mining in the Bellary area in Karnataka after the report.

Auto lubricants maker Castrol India galloped 4.39% to Rs 564.95 ahead of its Q2 results. The stock was fourth biggest gainer in 'A' group. The company unveils Q2 results on 11 August 2011.

IT, realty, banking stocks slide

India's second largest private sector bank by net profit HDFC Bank skidded 1.16%.

Jindal Steel & Power (JSPL) lost 0.89% to Rs 568, extending a recent slide triggered by weak Q1 results. The stock hit a 52-week low of Rs 557 on Monday, 1 August 2011. Consolidated net profit after tax fell 2.5% to Rs 933.03 crore on 31.4% increase turnover to Rs 3944.10 crore in Q1 June 2011 over Q1 June 2010. The Q1 result was announced after market hours on Thursday, 28 July 2011.

Steel Authority of India (Sail) fell 1.75% to Rs 117.85, extending Monday's 5.07% decline triggered by weak Q1 results. The stock hit 52-week low of Rs 116.10 today. The company announced after market hours on Friday, 29 July 2011, that the net profit fell 28.77% to Rs 838.06 crore on 19.63% rise in total income to Rs 11389.04 crore in Q1 June 2011 over Q1 June 2010.

Sesa Goa fell 2.66%. The company said all its transactions are legally compliant. The company's clarification followed the Karnataka Lokayukta report on illegal mining in the state.

ABB rose 0.92%. The company clarified during market hours today that some reports has erroneously informed that ABB had won an order worth $1 billion from Tennet for transmission lines. The company said this order has been won by ABB Germany and not by ABB India and that press release to this effect was made by ABB, Zurich and not by ABB India.

Sona Koyo Steering Systems soared 8.97% after consolidated profit after tax & minority interest jumped 273.81% to Rs 15.70 crore on 45% surge in net sales to Rs 337.50 crore in Q1 June 2011 over Q1 June 2010.

Note : Data From Capital Market.com.

Note : Kindly Trade With Stoploss !