The Professional Ticker Reader TM

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Feb 05, 2005

Markets recover further. Sensex gains 199 points.

Higher volumes, positive breadth as bulls stage comeback.

Weekly statistics

Indices	Open	High	Low	Close	Change
BSE - 30	6463	6684	6455	6618	199.14
BSE - 200	855	892	855	883	32.69
NSE - 50	2008	2099	2006	2077	69.65
Dow Jones	10716 289	Nasdaq	2086 51	FTSE	4941 109
Advances	9084	Declines	6727	Put / Call trades - 53278 : 144072
FII Investments	Rs  2684 Crs Feb 1 - 3		Domestic Funds	Rs  85 Crs Feb 1 - 3

The BSE & NSE combined weekly value of shares advancing was Rs. 53,362 crores ( previous week Rs. 28,308 crores ) and the corresponding value of shares declining was Rs. 20,032 crores ( previous week Rs. 9,841 crores ). This indicates a buying bias. The total weekly traded volume on the BSE was Rs. 44,648 Crores ( previous week Rs. 18,389 Crores ). The total weekly traded volume on the NSE was Rs. 28,962 Crores ( previous week Rs. 20,209 Crores ).

The week saw the markets extend their gains on the back of good volumes growth. The market internals like breadth and traded volumes were encouraging and the FII inflows spurred the bulls out of their slumber. The easing crude prices were another positive trigger. The Sensex was boosted by ACC, Bajaj Auto, BHEL, Cipla, Grasim, Guj Ambuja Cements, HDFC, HDFC Bank, Hero Honda, Hind Lever, HPCL, Hindalco, ICICI Bank, Infosys, L&T, Maruti, ONGC, Ranbaxy, Reliance Energy, Reliance Inds, Satyam Computers, SBI, Tata Power, Tisco, Wipro and Zee Telefilms. The Sensex was dragged down by Bharti Tele, Dr Reddy, ITC, MTNL and Tata Motors. The Rupee ended the week at 43.47 levels ( 00.25 ) against the US $. Overall, the week was completely in line with our expectations. Click here to view the previous weeks report.

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• The markets are likely to take note of crude prices which are US $ 46.48 / barrel ( previous week US $ 47.18 / barrel )

• The FII inflows are very positive and imbibe confidence amongst the bulls. They have invested Rs 3,579 Crs in this week.

• The F&O indicators point towards a rising open interest with a rise in short positions as the Nifty PCR is touching 1.06 : 1.

• The market breadth points towards a bullish undertone as the advance declines ratios are tilted in favour of the bulls. Of the entire traded volumes transacted last week, only 21 % were transacted on downtick days and the remaining on bullish days. That is a sign of optimism also.

• The overseas markets have been bullish for the second week in a row and that is likely to have a trickle down effect on the domestic markets also.

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Technicals

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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.

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