Equity Trading Tips for April 10,2014

ECONOMY ANALYSIS

• Sensex hits new high, up 350 points; Nifty hits 6,800

• Bulls go on the rampage: Sensex makes new closing high of  22,702 

• Suzlon up 7% after inking Rs 7,000 cr loan deal

• Bharat Forge hits 8-yr high; Goldman upgrades

• GVK Power up 8%, coal project gets nod for USD 10bn mine

MARKET ANALYSIS

• The markets made sharp and unexpected gains in last half hour of trading after witnessing a rangebound session. Banking stocks led the rally,  while technology and FMCG sectors were in the red.

• Sensex closed the day at 22,702.34; up 358.89 points, or 1.61%. It hit a  fresh life high of 22,740.04. 

• The broader 50-share Nifty ended at 6796.20; up 101.15 points, or 1.51%. 

• The BSE IT index was the top loser among sectoral indices. It closed at 8867.35; down 109.51 points. 

• Analysts say the market is likely to remain choppy ahead of the earnings season and as India polls to elect a new government.

• Foreign institutional investors bought shares worth Rs 703.71 crore while  domestic institutional investors were net sellers worth Rs 1081.36 crore on Tuesday as per the provisional data from the National Stock Exchange.

MAJOR INDICES

MARKET ANALYSIS

INDEX                       CLOSE             CHANGE            % CHANGE

SENSEX                 22702.34             358.89                      1.61

NIFTY                        6796.20             101.15                      1.51


BANK NIFTY         12937.40              430.95                      3.45




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