SHREE GANESHAY NAMAAH !
Mkt Wrap: Can lack of positive cues see Nifty snap 200 DMA?
After the long weekend, investors came back to a 150 points gap down on the first day of the week, tracking weak global cues. Witnessing profit booking, key benchmark indices were left trading in the red through most of the day.
The Sensex tumbled 263.88 points or 1.51%, to close at 17,222.14 due to banks, metals and capital goods stocks falling while the Nifty fell 88.50 points or 1.66% to close at 5,234.40.
United Spirits jumped 6.87% to Rs 722.50 and topped the gainers in the BSE's 'A' group. The stock extended eight-day 24.21% gain on reports Vijay Mallya's UB group is looking to raise $1 billion by offloading shares in the core alcohol business in which world's largest drinks companies Diageo Plc and Heineken have shown interest.
Ranbaxy Laboratories surged 3.88% to Rs 495.50 on reports the US Food and Drug Administration was likely to approve next month the distribution of acne medicine CIP-Isotretinoin in the United States. Ranbaxy has an exclusive deal with Cipher Pharmaceuticals to market CIP-Isotretinoin in the United States, pending approval from the FDA. The stock was second biggest gainer in 'A' group.
Max India advanced 3.74% to Rs 181.55. The stock was third biggest gainer in 'A' group. The stock rose on high volume of 13.91 lakh shares as against an average daily volume of 3.70 akh shares in the past two weeks.
Coromandel International gained 3.43% to Rs 294. The stock was fourth biggest gainer in 'A' group. The stock had underperformed the market over the past one month until 4 April 2012, falling 2.60% compared with the Sensex's 0.86% fall. The scrip had also underperformed the market in past one quarter, rising 1.90% as against 10.10% rise in the Sensex.
MRF rose 2.72% to Rs 10946.65 and was fifth biggest gainer in 'A' group. The stock scaled a record high of Rs 11080 in intraday trade today, 9 April 2012. Shares of tyre maker have been on a roll recently on softening of rubber prices, the main raw materials of tyre companies. The benefits of lower rubber prices and higher production capacity would be reflected in the financial performance of tyre companies in the coming quarters.
NIFTY FUTURE :
Supp. 5196 / 5222 / 5242 / 5248
CMP: 5253
Resis. 5263 / 5269 / 5285 / 5310
BANK NIFTY FUTURE  :
Supp. 9958 / 10048 / 100103 / 10140
CMP : 10158.25
Resis. 10177 / 10214 / 10269 / 10359
Market Updates :
Britannia Industries clocked volume of 4.05 lakh shares by 12:51 IST on BSE, a 5.94-times surge over two-week average daily volume of 68,000 shares. The stock rose 0.46% to Rs 595.
Hindustan Dorr-Oliver notched up volume of 10.74 lakh shares, a 4.58-fold rise over two-week average daily volume of 2.34 lakh shares. The stock was locked at 10% upper circuit at Rs 51.95.
Max India clocked volume of 12.37 lakh shares, a 3.34-fold rise over two-week average daily volume of 3.70 lakh shares. The stock rose 2.4% to Rs 179.20.
Dhanlaxmi Bank clocked volume of 16.11 lakh shares, a 2.58-fold surge over two-week average daily volume of 6.26 lakh shares. The stock lost 0.93% to Rs 74.70.
United Spirits clocked volume of 3.36 lakh shares, a 1.1-fold rise over two-week average daily volume of 3.07 lakh shares. The stock rose 3.79% to Rs 701.70.
Note : Data From Capital Market And Money Control !
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