The Professional Ticker Reader TM

Your accurate, authentic and affordable guide to investing

Feb 12, 2005

Markets crawl higher. Sensex gains 15 points

Lower volumes, positive breadth as stocks witness late rally

Weekly statistics

Indices	Open	High	Low	Close	Change
BSE - 30	6652	6658	6508	6633	15.53
BSE - 200	886	893	875	891	08.52
NSE - 50	2097	2098	2043	2082	04.10
Dow Jones	10796 80	Nasdaq	2077  10	FTSE	5044 103
Advances	9115	Declines	6845	Put / Call trades - 42128 : 107858
FII Investments	Rs  3563 Crs Feb 1 - 10		Domestic Funds	Rs  21 Crs Feb 1 - 10

The BSE & NSE combined weekly value of shares advancing was Rs. 30,576 crores ( previous week Rs. 53,362 crores ) and the commensurate value of shares declining was Rs. 15,363 crores ( previous week Rs. 20,032 crores ). This indicates a buying bias. The total weekly traded volume on the BSE was Rs. 22,209 Crores ( previous week Rs. 44,648 Crores ). The total weekly traded volume on the NSE was Rs. 25,023 Crores ( previous week Rs. 28,962 Crores ).

The week was marked by lower volumes and a subdued undertone. The markets managed to hold on to their gains on a week-on-week basis due to the sheer gains in the technology sector which saved the week. The retail participation was wanting and the index heavy weights appeared top heavy. The saving grace was the positive market breadth and the continued FII inflows. The Sensex was boosted by ACC, Bajaj Auto, BHEL, Dr Reddy, HDFC Bank, Hero Honda, HPCL, ICICI Bank, Infosys, L&T, Maruti, MTNL, Reliance Inds, Satyam Computers, SBI, Telco, Tata Power and Tisco. The Sensex was dragged down by Bharti Tele, Cipla, Grasim, Guj Ambuja Cements, HDFC, Hind Lever, Hindalco, ITC, ONGC, Ranbaxy, Reliance Energy, Wipro and Zee Telefilms. The Rupee ended the week at 43.80 levels ( 00.53 ) 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 rising marginally at US $ 47.16 / barrel ( previous week US $ 46.48 / barrel ).

• The FII inflows are positive with investments of Rs 630 Crs during Feb 7 - 10. That is likely to imbibe confidence among the bulls.

• The F&O indicators point towards a rising open interest which shows a higher risk appetite among the bulls. The Nifty PCR is now at the 1.09 : 1. The traded volumes however have been lower.

• The market breadth points towards a bullish undertone as the weekly figures remain positive. Of the entire transacted volume during the week on BSE & NSE, 18 % was transacted on downtick days. The remaining was initiated on positive market days. That is a sign of optimism.

• The INR is sliding against the US $ and that will in turn firm up the technology counters. Being heavily weighted in the indices, the markets are likely to get a cause for cheer.

• The overseas markets have been firm and are likely to have a trickle down effect on the domestic markets also.

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.