Tuesday, November 01, 2005

Market remains subdued; HDFC surges


The market remained subdued in morning trade. Market breadth remained weak.

Steel scrips slipped on reports that steel makers have cut hot-rolled coil
prices by Rs 500 per tonne with effect from 1 November 2005. Profit taking
pulled down IT stocks and PSU banks.

Index heavyweight Reliance Industries was subdued. Two-wheeler makers Bajaj
Auto and Hero Honda edged higher on the back of strong sales in the month
just gone by even as car major Maruti Udyog (MUL) slipped ahead of the
announcement of October car sales.

Cement pivotals were steady to firm. Housing finance major HDFC was in
demand.

1,239 stocks declined on BSE as compared to 504 stocks that rose. 30 scrips
were unchanged. Losers outpaced gainers by a ratio of 2.4:1.

At 11:23 IST, the Sensex was down 16 points at 7,927. The Sensex moved 69.57
points between a low of 7,891.23 and a high of 7,960.80.

MUL lost 2.3% to Rs 538.30. 56,341 shares changed hands in the counter on
BSE.

Hero Honda rose 1.8% to Rs 719, and Bajaj Auto gained 1.2% to Rs 1,741. Hero
Honda reported a 23% hike in bike sales in October 2005 to 3.01 lakh units.
Exports rose 14% to 6,357 units. On a month on month basis, sales rose 13%
from 2.66 lakh units in September 2005.

Bajaj Auto on Tuesday said its total vehicle sales in October rose 37% to
241,808 units from 176,693 in October 2004. Motorcycle sales surged 43
percent to 205,012 units from 143,491 and sales of all two-wheelers rose 40
percent to 219,927 units from 157,631, it said. Sales of three-wheelers
climbed 15 percent to 21,881 units from 19,062 units a year earlier. The
company said exports surged 49 percent to 22,713 units from 15,262 units.

Housing finance major HDFC surged 3% to Rs 1,000, on renewed buying
interest. 22,017 shares changed hands in the counter on BSE.

Grasim rose 1.6% to Rs 1,144 and Gujarat Ambuja Cements gained 0.79% to Rs
70.40. But ACC lost 0.6% to Rs 449.05 and India Cements shed 4% to Rs 86.30.

Tisco lost 2% to Rs 332.75 and Sail shed 1.7% to Rs 51.10. JSW Steel shed
2.5% to Rs 207 and Ispat Industries shed 4.4% to Rs 13.40. Steel companies
have cut HR coil prices due to easing global prices and larger domestic
inventories, reports suggest. The average price of HR coils, the primary
steel used for making various grades of steel, would be about Rs 21,000 ($
465) per tonne following the latest price cut.

Software shares edged lower on weakness in US tech stocks. Wipro lost 1.1%
to Rs 360, TCS shed 1.2% to Rs 1,391, Infosys shed 1% to Rs 2,509 and Satyam
Computer shed 0.8% to Rs 607. US stocks fell on Tuesday, dragged lower by
technology shares after a disappointing outlook from Dell Inc. The
technology-laced Nasdaq Composite Index shed 6.25 points, or 0.29 percent,
at 2,114.05.

State Bank of India shed 1.8% to Rs 823. 2.7 lakh shares changed hands in
the counter on BSE.

3 Comments:

Blogger www.ShareTipsInfo.com Team said...

Dear Visitors,

This blog is really nice and informative. We are pleased to know this blog is really helping people. Its our pleasure to post informative content on this useful blog created by webmaster.

Time changes and with every passing day graphs of stock market changes which in turn changes the portfolio of investor. Like recent fall in Indian stock market
has ruined the portfolio of investors
who were invested in Nse and Bse
listed scripts. They have lost around say 60% of there money. But now once again after that correction in stock market Nifty and Sensex has picked up momentum. But
we again warns all investors that don’t be too over tempted by this rise as its just a minor upmove. Until Nifty doesn’t close above 5300 for 3-4 sessions we are not at all bullish in market. So invest in market for short term or prefer day trading commonly known as Intraday trading.

Apart from it rising price of Crude oil, Rising Inflation is a matter of concern. Though dollar is becoming stronger that will boost IT sector and Exporters.

All in all we suggest be in Indian stock market and if you are investor invest with the proper strategies like go Long for maximum 1 week that too with proper stoploss and target.
If you are day trader be a strict intraday trader then , clear your goals and trade with strict stoploss and target if you want to earn.



Regards


SHARETIPSINFO TEAM

9891655316
9899056796
9891890425

2:47 AM  
Blogger Aarav Sharma said...

Very nice post. I just stumbled upon your blog and wanted to say that I have really enjoyed browsing your blog posts.
Dividend

4:07 AM  
Blogger kavin smith said...

This comment has been removed by the author.

4:38 AM  

Post a Comment

<< Home

Free promotion
Indian Stock Quotes Symbol?