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Nifty kisses 5,000 level; Idea Cellular at 52-week high

Market settles near 2-week high on strong Q1 GDP data

Stocks Which Can Bounce Back In Some Days !

Cairn India CMP 262, SL 245, Tgt 308 ! Closed @ 279.30 !

Unitech CMP 26.25, SL 24, TGT 30.50--33 ! Closed @ 27.85 !

Andhra Bank CMP 124, SL 113, TGT 144 ! Closed @ 130.50 !

BSE clocked turnover of Rs 2605 crore, higher than Rs 1849.88 crore on Monday, 29 August 2011.

The market breadth, indicating the overall health of the market, was strong. On BSE, 1,766shares rose and 1,049 shares fell. A total of 112 shares remained unchanged.

Among the 30-share Sensex pack, 25 rose while the rest fell. Tata Power Company, ITC and Bharti Airtel fell by between 0.46% to 0.77%.

RBI said there could be some pressure on CAD if the global economy weakens significantly and affects exports. With adequate foreign exchange reserves, India remains capable of handling any pressures emanating from the external sector in the near term. However, from a medium to long term perspective, it is important to improve resilience of external account by pursuing policies that shift the composition of capital flows so as to reduce dependence on its volatile components, RBI said. Augmenting foreign direct investment (FDI) further could bring about a better balance between different components of capital flows and reduce the possibility of volatile currency movements and any pressure on reserves in the face of contagion risks, RBI said.

RBI said tackling food inflation also needs a strategy to break the inertial element arising from rising real wages leading to increases in the Minimum Support Price (MSP), which in turn lead to higher food inflation that feeds back to higher wages with an element of indexation. Rural wage programmes need to be linked with productivity, RBI said. If productivity improves, real wages can rise without putting pressure on prices. The inclusion agenda can then be pursued on a sustainable basis without drag on inflation and the fiscal position.

Yearly (2011) : 
Open : 6177.45
High : 6181.05
Low : 4720.00
Close: 5001.00
Avg. : 5519.88

NIFTY FUTURE 

R5 : 5108
R4 : 5088
R3 : 5070
R2 : 5048
R1 : 5025

CMP: 5003.00

S1 : 4992
S2 : 4970
S3 : 4948
S4 : 4918
S5 : 4901

Market Updates : 

Manappuram Finance leads gainers in 'A' group.

Sesa Goa, Pipavav Shipyard, DLF and HCL Technologies are among the other gainers.

Manappuram Finance vaulted 14.81% to Rs 50.40. The stock topped the gainers in the BSE's 'A' group. Manappuram Finance's public issue of non convertible debentures(NCDs) aggregating to Rs 400 crore with an option to retain over-subscription up to Rs 350 crore for issuance of additional NCDs aggregating to a total of up to Rs 750 crore opened for subscription on 18 August 2011. The issue closes on 5 September 2011.

Sesa Goa spurted 9.88% to Rs 234.10. The stock was second biggest gainer in 'A' group. Before trading hours on Monday, 29 August 2011, the company said it will have to stop mining in the Chitradurga district of Karnataka following a latest Supreme Court order. The ban on mining in the Chitradurga district of Karnataka will adversely affect to some extent the performance of the company, Sesa Goa said in a statement. The annual permitted capacity of the Chitradurga mine at present is 6 million tonnes, the company said.

The Supreme Court on Friday, 26 August 2011, extended a ban on iron ore mining in Karnataka after a court-appointed body found prima facie evidence of environmental degradation in the districts of Tumkur and Chitradurg. On 29 July 2011, the apex Court had suspended all mining activities in Bellary district of Karnataka, observing that extraction of iron ore would not be allowed at the cost of environment degradation.

Pipavav Shipyard jumped 8.43% to Rs 72.70. The stock was third biggest gainer in 'A' group. The stock rose on higher volume of 39.39 lakh shares as compared with an average volume of 8.12 lakh shares in the past two weeks.

DLF surged 6.42% to Rs 196.35. The stock was forth biggest gainer in 'A' group. The stock extended Monday's 4.92% rally. With respect to media reports that DLF is in talks to sell its 70% stake in DLF IT Park in Noida to financial services firm IDFC, DLF has clarified that DLF IT Park, Noida is a joint venture in which DLF holds stake through a wholly-owned subsidiary. The subsidiary is exploring various strategic options including the sale of its holding in the joint venture company, DLF said.

Separately, IDFC said in its clarification that as a part of its normal business, IDFC does evaluate opportunities for loan and investments in infrastructure projects from time to time. In line with its normal businesses, IDFC is in talks with DLF for a business proposal, which may or may not lead to any deal.

HCL Technologies advanced 6.13% to Rs 414.50. The stock was fifth biggest gainer in 'A' group. During market hours today, 30 August 2011, the company said it has entered into a partnership with Basware Corporation for induction of the Finnish software provider's purchase-to-pay solutions to help improve its own customer delivery processes and achieve cost reductions. HCL will leverage Basware's invoice automation, procurement and connectivity solutions for process enhancement and increased cost reduction to help its clients improve productivity, HCL Technologies said.

Hero MotoCorp scales 52-week high.

Note : Data From Capital Market And Money Control !

Note : Kindly Trade With Stoploss !