Tuesday, November 01, 2005

Weak market breadth; Maruti Udyog slips

The Sensex moved between positive and negative territory in opening trade. A
mixed trend was witnessed in various Sensex constituents.

Cement shares edged slightly higher. Bajaj Auto firmed up in early trade.
Software shares were subdued.

Car major Maruti Udyog (MUL) slipped in early trade ahead of the
announcement of its October 2005 vehicle sales.

Blue chips like State Bank of India, ITC, Reliance Industries (RIL), Infosys
and TCS slipped in early trade.

MTNL moved up in opening trade on reports in a section of the media that the
Department of Telecommunications (DoT) is exploring the option of a quasi
merger of BSNL and MTNL.

Hindalco Industries edged higher for the second day in a row.

Bajaj Auto rose slightly on the back of strong October sales even as Hero
Honda moved between positive and negative territory.

Market breadth was quite weak in early trade. 828 stocks declined on BSE as
compared to 376 stocks that rose. 21 scrips were unchanged. Losers outpaced
gainers by a ratio of 2.2:1.

At 10:19 IST, the Sensex was down 16 points at 7,927. The Sensex moved 51.82
points in early trade between a low of 7,908.98 and a high of 7,960.80.

MUL shed 2% to Rs 540. 27,369 shares changed hands in the counter on BSE.

State Bank of India (SBI) lost 1.5% to Rs 826.60. As per reports in a
section of the media, SBI has zeroed in Pt Bank Indomonex of Indonesia for a
possible acquisition. SBI has embarked upon a series of international
acquisitions to establish itself as a global player.

Software shares were subdued. TCS lost nearly 1% to Rs 1,395, Infosys shed
0.8% to Rs 2,515 and Satyam Computer shed 0.6% to Rs 608.

RIL shed 0.6% to Rs 761. 1.6 lakh shares changed hands in the counter on

Hero Honda was down 0.1% to Rs 705. 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

Bajaj Auto rose 0.8% to Rs 1,735. Bajaj Auto on Tuesday 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 a
year earlier. The company said exports surged 49 percent to 22,713 units
from 15,262 units.

MTNL gained 1.1% to Rs 113.75. As per reports in a section of the media, the
Department of Telecommunications (DoT) is exploring the option of a quasi
merger of BSNL and MTNL. The plan involves forming four regional wireline
companies, a mobile operator and an infrastructure company from BSNL. The
four regional wireline companies would be BSNL North, BSNL East, BSNL South
and BSNL West. Under the plan, MTNL’s wireline operations in Delhi would
merged with BSNL North and Mumbai operations with BSNL West. The mobile
operations of BSNL, along with that of MTNL, would be transferred to a
separate company, BSNL Mobile thus giving the public sector units a
pan-India mobile footprint, reports suggest.


Blogger www.ShareTipsInfo.com Team said...

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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.




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