The Professional Ticker Reader TM

Your accurate, authentic and affordable guide to investing

Dec 25, 2004

Markets rally to new highs. Sensex gains 152 points.

Lower volumes, positive breadth as FII's ramp up sentiments.

Weekly statistics

Indices	Open	High	Low	Close	Change
BSE - 30	6360	6507	6345	6498	151.58
BSE - 200	851	872	850	871	22.09
NSE - 50	2012	2065	2007	2062	50.60
Dow Jones	10827 177	Nasdaq	2161 25	FTSE	4798 101
Advances	8958	Declines	6771	Put / Call trades - 41026 : 127219
FII Investments	Rs  5039 Crs Dec 1 - 23		Domestic Funds	Rs  501 Crs Dec 1 - 23

The value of shares advancing was Rs. 32,448 crores ( previous week Rs. 36,965 crores ) and the value of shares declining was Rs. 13,021 crores ( previous week Rs. 16,335 crores ). This indicates a buying bias. The total traded volume on the BSE was Rs. 21,030 Crores ( previous week Rs. 29,977 Crores ). The total traded volume on the NSE was Rs. 24,827 Crores ( previous week Rs. 23,456 Crores ).

The markets have celebrated a bull dance in the pre-christmas week as the indices surged to their new lifetime highs. The traded volumes were marginally lower as the festive season coupled with nervousness laced sentiments. The market breadth was positive and the undertone was optimistic. The rally came from the old economy stocks as the technology sector was dogged by a weak US $. The Sensex was boosted by ACC, Bajaj Auto, Bharti Tele, BHEL, Cipla, Dr Reddy, Grasim, Guj Amb Cements, HDFC Bank, Hero Honda, HPCL, Hindalco, ICICI Bank, ITC, L&T, Maruti, ONGC, Reliance Energy, Reliance Inds, SBI, Telco, Tata Power and Tisco. The Sensex was dragged down by HDFC, Hind Lever, Infosys, MTNL, Ranbaxy, Satyam Computers, Wipro and Zee Telefilms. The Rupee ended the week at 43.79 levels ( 00.14 ) against the US $. Overall, the week was completely in line with our expectations. Click here to view the previous weeks report.

Top I Derivatives guide I Likely triggers I Technicals I Reco's I Print this page I Close window

• The markets are likely to take note of crude prices which are easing as the Nymex closed at US $ 44.18 / barrel ( previous week US $ 46.28 / barrel )

• The FII inflows are continuing to remain positive with Rs 710 Crs recorded this week ( previous week Rs. 1135 Crs ). The slowdown can be attributed to the festive holidays.

• The F&O indicators point towards a rising open interest which is indicating higher risk appetite among the bulls. At the same time the Nifty PCR is testing record highs. The outlook looks positive.

• The INR has gained against the US $, which is likely to keep the technology stocks top heavy. Being heavily weighted in the indices, this sector will drag the markets.

• The Reliance imbroglio is likely to ease this week as the sweat equity issue and the buyback are likely to attract trader focus.

• The market breadth points towards a firm undertone as the bulls have managed to maintain a hold on the sentiments.

• The overseas markets have gained sharply to test 3 1/2 year highs as improved employment / consumer spending / earnings data lifted sentiments. This is likely to have a trickle down effect on the domestic markets.

Top I Derivatives guide I Likely triggers I Technicals I Reco's I Print this page I  Close window

Technicals

This segment is for paid subscribers only

Top I Derivatives guide I Likely triggers I Technicals I Reco's I Print this page I Close window

Have a profitable day.

 

Vijay L Bhambwani

Ceo :- Bsplindia.com

The author is a Mumbai  based investment consultant and invites feedback at Vijay@BSPLindia.com and  ( 022 ) 23438482 / 23400345.

SEBI disclosure -  The author has no positions in  the stocks mentioned above.

---

Legal  notice :-  The Professional  Ticker  Reader  is a  trademark  of  Bhambwani  Securities (P) Ltd.  and  any un-authorised  replication / duplication  in part or full  will  be infringing  our  trademark and  will  result in  legal  action  being  enforced  on  the  infringing  persons / parties.

---

While all due care has been taken while in compiling the data enclosed herein, we cannot be held responsible for errors, if any, creeping in. Please  consult  an  independent  qualified  investment  advisor  before  taking  investment  decisions. This mail is not sent unsolicited, and only advisory in nature. We have accepted no consideration from any company mentioned above and recommend taking decisions on merits of the stocks from our viewpoint. This email is being sent to you as a paid subscriber. Please protect your interests and ours by not disclosing the contents to any un-authorised  person/s.