The Professional Ticker Reader TM

Your accurate, authentic and affordable guide to investing

April 18, 2004

Markets creep higher. Sensex gains 23 points.

Higher volumes, positive breadth as bulls attempt comeback.

Weekly statistics

Indices	Open	High	Low	Close	Change
BSE - 30	5856	5927	5743	5861	23.18
BSE - 200	772	790	760	785	15.24
NSE - 50	1860	1885	1819	1868	14.55
Dow Jones	10452 10	Nasdaq	1996 57	FTSE	4537 48
Advances	7740	Declines	5097	Put / Call trades - 29281 : 81320
FII Investments	Rs  2229 Crs Apr 1 - 15		Domestic Funds	Rs  96 Crs Apr 1 - 15

The value of BSE & NSE combined weekly value of shares advancing was Rs. 19,180 crores ( previous week Rs 15,891  crs ) and the value of shares declining was Rs. 12,808 crores ( previous week Rs 12,949 crs ). This indicates a broader buying bias. The total weekly traded volume on the BSE was Rs. 10,208 Crores ( previous week Rs 9,140 crs ). The total traded volume on the NSE  was Rs. 22,069 Crores ( previous week Rs 20,632 crs ).

The markets saw an improved undertone as the volumes and sentiments picked up. The technology stocks gave a pleasant surprise by way of bonuses and earnings guidance. The market breadth was positive and the capitalisation was positive too. Traded volumes picked up too and that is a heartening signal. The bulls attempted to wrest back the initiative from the bears and build long positions. The Sensex  was boosted by ACC, Bajaj Auto, Bharati Tele, BHEL, Cipla, Grasim, Guj Amb Cem, Hind Lever, Infosys, MTNL, Satyam Computers, SBI, Telco, Tata Power, Wipro and Zee Telefilms. The Sensex  was dragged down by BSES, Dr Reddy, HDFC Bank, HDFC, Hero Honda, HPCL, Hindalco, ITC, L&T, ONGC, Ranbaxy, Reliance and Tisco. The rupee ended the week at 43.94 levels ( 00.32 ) against  the US $.

Top I Derivatives guide I Likely triggers I Technicals I Reco's I

The markets are likely to be governed by the results and elections in the short term. The traded volumes are improved and there is a qualitative improvement in the traded pattern. However, the overall picture needs to improve on even heavier volumes and positive market breadth and an increase in outstanding open positions. The technology sector will play a major role in the market trends due to the sheer weightage factor alone. The important developments to watch in the coming week will be results and the way the open interest fluctuates before expiry of the April contracts. Should the open interest rally with good volumes, retail participation will improve. The cement and banking sectors will lead the charge in the markets.

The overseas markets have been more or less steady and are unlikely to influence the domestic markets in a major way. Overall, we expect a crucial week ahead.

Top I Derivatives guide I Likely triggers I Technicals I Reco's I

This segment is for paid subscribers only.

Top I Derivatives guide I Likely triggers I Technicals I Reco's I

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.