New Page 1 After registering sharp gain yesterday the market is likely to add gains further following the firm global cues.
Overnight gains in the US markets and positive opening in the most of the Asian indices may help the local market to add gains. However, bouts of high volatile moves could dampen the sprit of the market. Among the key indices, the Nifty has a strong resistance at 4150 and has a key support at 4050 levels in the near-term. The Sensex has a likely support at 13750 and may face resistance at 14100.
US indices posted gains for the second straight session on Tuesday, after a choppy session in which investors welcomed Goldman Sachs' better-than-expected results but showed caution ahead of all the quarterly reports due in the weeks ahead. While the Dow Jones added 28 points at 8359, the Nasdaq was up 7 points at 1800.
Indian floats, barring few, gained marginally on US bourses. Rediff was the best performer and surged 9.42% while Patni Computer gained 3.89%. ICICI Bank, Tata Motors, Dr Reddy's, VSNL and Wipro were up around 1-3% each. However, HDFC Bank, MTNL, Infosys and Satyam slipped around 1-2% each.
Global crude oil prices moved below $60 mark, with the Nymex light crude oil for August delivery lost by 17 cents to close at $59.52 a barrel. In the commodity space, the Comex gold for August series gained by 30 cents to settle at $922.80 a troy ounce
Daily trend of FII/MF investment in equities
On July 13 2009, FIIs were net buyers of stocks to the tune of Rs190 crore (purchases worth Rs2071 crore and sales of Rs1881 crore).
Imp Results today: Cipla (annual nos), IDBI Bank, Bajaj Auto Finance, Bajaj Finserv, CMC, IBN18 Broadcast, IL&FS Investment Managers, TV18, Dhampur Sugar.
Stocks with +ve bias: Sesa Goa (Sl 193), Wipro (SL 394), Powergrid (Sl 105), KS oil, and India Cem
Stocks for Investments: Balrampur chini, Emco ltd, Ultratech cement & Bajaj Holdings.
