The Professional Ticker Reader TM

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Sept 04, 2004

Markets accelerate upwards. Sensex gains 101 points.

Higher volumes, positive breadth as bulls get bolder.

Weekly statistics

Indices	Open	High	Low	Close	Change
BSE - 30	5130	5233	5130	5218	101.45
BSE - 200	675	690	675	686	13.57
NSE - 50	1609	1641	1609	1634	25.10
Dow  Jones	10260 65	Nasdaq	1844 18	FTSE	4548 57
Advances	8596	Declines	5412	Put / Call trades - 33506 : 76119
FII Investments	Rs  175 Crs Sept 1 - 2		Domestic Funds	Rs  97 Crs Sept 1 - 2

The BSE & NSE weekly combined value of  shares advancing was Rs. 18,493 crores ( previous week Rs. 13,803 crores  ) and the value of shares declining was Rs. 6,600 crores ( previous Rs. 10,555 crores ). This indicates a broader buying bias. The weekly total traded volume on the BSE was Rs. 7,776 Crores ( previous week Rs. 7,714 Crores ). The total weekly traded volume on the NSE  was Rs. 17,743 Crores ( previous week Rs. 17,282 Crores ).

The markets saw a bullish undertone as the bulls continued to lend buying support at lower levels. The week saw a 2 % rally in the benchmark indices and the upmove was qualitatively better as the market breadth was positive and improved over the previous week. The traded volumes were marginally higher as the above table indicates. The boost came from the technology, cement, automobiles and select energy counters. The Sensex  was boosted by ACC, Bajaj Auto, BHEL, Dr Reddy, Grasim, Guj Amb Cem, HDFC, Hindalco, Infosys, ITC, L&T, MTNL, Ranbaxy, Reliance Inds, Satyam Computers, SBI, Telco, Tata Power, Tisco, Wipro and Zee Telefilms. The Sensex  was dragged down by Bharati Tele, Cipla, Hero Honda, Hind Lever, HPCL, ICICI Bank, ONGC and Reliance Energy. The Rupee ended the week at 46.30 levels ( 00.04 ) against  the US $. Click here to view the previous weeks reports 

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

• The markets are likely to see an optimistic undertone as the bulls have extended support at lower levels. The recent week's figures are an improvement over the prior week as the table above indicates.

• The FII's have been net buyers this week as their inflows have totalled Rs 223 crs in the first four days of the week. Domestic institutions have pumped in Rs 159 crs in the same period. Both categories of institutional players have been buyers on all the four days of the week.

• The marginally higher inflation figures have seemed not to have worried the markets excessively. The trade policy has been accepted well by the industry.

• The RBI announcement for the banking sector is likely to keep the banking stocks firm in the near term.

• The F&O segment indicates a healthy rise in open interest but with a sharp fall in traded volumes, that shows a greater presence of HNI's and institutional players, while the retail segment has been laying off the markets.

• The overseas markets have been steady and the international crude oil prices are witnessing blips upwards, which is likely to keep the upsides in the overseas markets capped.

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

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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.

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