Equity Trading Tips for 09/09/2014

ECONOMY ANALYSIS

Sensex ends 293 pts higher; NTPC, M&M, Tata Power fall

ONGC, OIL surge 3-4%; BoA ML upgrades on oil reforms hopes

Bharti Airtel divests African telecom tower assets to Eaton

Tyre stocks up 2-20%, rubber prices sharpest fall in 5 yrs

UBS dealers' survey confirms autos shifting to top gear

Coal block auctions likely by end of FY 2014-15

MARKET ANALYSIS

 The Nifty resumed its upward journey after two-day break and ended atrecord closing high on the back of strong inflows from foreign institutional investors.

The FIIs have pumped in $740 million in Indian equities last week while year-to-date they have invested massive $13.9 billion.

Goldman Sachs has rolled its 12-month target for Nifty to September 2015 (from June 2015) and Nifty updated target to 9,000 from 8,600 earlier.

The 50-share index ended at all-time closing high of 8,173.90, up 87.05 points or 1.08 per cent. It touched all-time high of 8,180.20 and an intraday low of 8,126.15 in trade today.

The S&P BSE Sensex ended at all-time closing high of 27,319.85, up 293.15 points or 1.08 per cent. It touched all-time high of 27,354.99 and a low of 27,144.56 today.

The market breadth was positive on the NSE with 956 gainers against 284 losers

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