Market Round Up

The markets continued their positive momentum amid volatility. The Sensex closed up 186 points or 1.80% at 10534 and the Nifty was up 45 points or 1.42% at 3,256. Great action was seen in the BSE midcap and smallcap indices, which were up 2.4% and 3.2% respectively.

Buying interest was seen in capital good, auto, technology, oil, telecom and metal stocks, while selling was see in FMCG stocks.

Movers & Shakers

Nirmal Bang Research is bullish on Bharti Airtel and maintained ‘Buy’ rating on the stock to achieve a target between Rs 710-730 within 1-5 days.

Traders can buy the stock on dips with a stop loss of Rs 630.

Shares of the company, on Monday (April 06), closed at Rs 659.85 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 39.31 and 15.98 respectively. The share price has seen a 52-week high of Rs 950 and a low of Rs 484 on BSE.

The stock also performed well on Monday, and if it maintains above 675, then a big up move is expected.

Nirmal Bang has maintained its ‘Buy’ rating on Essar Shipping Ports & Logistics stock to achieve a target between Rs 48 within 1-5 days.

Traders can buy the stock on dips with a stop loss of Rs 42.

Shares of the company, on Monday (April 06), closed at Rs 40.30 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 4.03 and 10.45 respectively. The share price has seen a 52-week high of Rs 187.85 and a low of Rs 19.40 on BSE.

The report also said that a big move is expected if the stock maintains above 42.

Nirmal Bang Research is bullish on Balaji Telefilms and maintained ‘Buy’ rating on the stock to achieve a target between Rs 51-57 within 1-5 days.

Traders can buy the stock with a stop loss of Rs 35.

Shares of the company, on Wednesday (April 08), closed at Rs 39.70 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 10.02 and 4.12 respectively. The share price has seen a 52-week high of Rs 221.70 and a low of Rs 24.80 on BSE.

Nirmal Bang has maintained its ‘Buy’ rating on Adlabs Films Limited to achieve a target between Rs 230-270 within 1-5 days.

Traders can buy the stock on dips with a stop loss of Rs 182.

Shares of the company, on Wednesday (April 08), closed at Rs 198.25 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 789.50 and a low of Rs 130.15 on BSE.

The report also said that a big move is expected if the stock maintains above Rs208.

Indian Stocks markets stayed in positive zone on Thursday. Markets are waiting for next trigger and are range-bound.

The benchmark indices closed the session on a flat note after remaining volatile throughout the day. The Sensex closed the day at 10,803 up 0.57% or 62 points after swinging in the range of 10,655 - 10,932. The NSE Nifty shut almost flat at 3,342 down just 0.03% or 0.9 points after trading in the range of 3,307 - 3,399. Among broader indices, BSE Midcap Index was up 1.6% or 55 points and Small Cap Index was up 1.6% or 61 points. Buying was seen in banking, realty and metal stocks.

Indian Markets closed higher on back on strong global cues and positive reports from various brokerage firms. The markets closed higher for the seventh consecutive day. Huge buying was seen in shares of banking, metal, realty, auto and oil & gas stocks. The Sensex surpassed the 11,000 mark while the Nifty tested the 3,400 level during the day but managed to end lower. The Sensex touched an intraday high of 11,069 before closing the day at 10,967 up 163 points or 1.51%. The Nifty ended up 40 points or 1.21% to 3,382 and touched a day's high of 3417. The BSE Midcap Index was up 3.1% or 106 points and the Small cap Index went up 3.9% or 147.

Nirmal Bang Research is bullish on State Bank of India (SBI) and maintained ‘Buy’ rating on the stock to achieve a target of Rs 1265.

Traders can buy the stock on dips with a stop loss of Rs 1240.

Shares of the company, on Monday (April 13), closed at Rs 1217.90 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 130.14 and 9.51 respectively. The share price has seen a 52-week high of Rs 1840 and a low of Rs 894 on BSE.

Nirmal Bang has maintained its ‘Buy’ rating on Alok Industries to achieve a target of Rs 19.40 within 1-5 days.

Traders can buy the stock on dips with a stop loss of Rs 13.

Shares of the company, on Monday (April 13), closed at Rs 198.25 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 2.83 and 5.50 respectively. The share price has seen a 52-week high of Rs 66.34 and a low of Rs 11.33 on BSE.

Indian Stock markets continued the upward move on Wednesday as well. The markets opened sharply lower on the back of weak global cues and disappointing guidance from Infosys, but saw significant recovery from the day's low as huge buying interest from the Institutional and local players helped the Sensex successfully to close above 11,000 mark while the Nifty to close above the 200-day moving average of 3,425.

The BSE Sensex has touched an intraday high of 11,337 before closing the day at 11,284 up 318 points or 2.9%. The Nifty shut at 3,484 up 3% or 101 points after hitting a high of 3,497 and low of 3,336.

Nirmal Bang has maintained its ‘Buy’ rating on Bharti Airtel to achieve a target between Rs 725-745 within 1-5 days.

Traders can buy the stock on dips with a stop loss of Rs 705.

Shares of the company, on Wednesday (April 15), closed at Rs 685.10 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 39.31 and 12.47 respectively. The share price has seen a 52-week high of Rs 950 and a low of Rs 484 on BSE.

Nirmal Bang Research is bullish on HDFC and maintained ‘Buy’ rating on the stock to achieve a target of Rs 1910 within 1-5 days.

Traders can buy the stock on dips with a stop loss of Rs 1825.

Shares of the company, on Wednesday (April 15), closed at Rs 1771.55 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 81.46 and 21.23 respectively. The share price has seen a 52-week high of Rs 2950 and a low of Rs 1116.10 on BSE.

Nirmal Bang has maintained its ‘Buy’ rating on Ranbaxy Laboratories to achieve a target between Rs 225-240 within 1-5 days.

Interested traders can buy the stock on dips with a stop loss of Rs 210.

Shares of the company, on Wednesday (April 15), closed at Rs 199.85 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 613.70 and a low of Rs 133.15 on BSE.

Nirmal Bang Research has suggested investors to 'sell' ONGC stock as there are full chances of a downward trend in this stock in the coming days.

According to report, investors can sell the stock with a strict stop loss of Rs 880 to achieve a target that lies between Rs 790-740.

Today (April 17), the stock opened at Rs 860, as against its last closure at Rs 851.75 on the Bombay Stock Exchange (BSE) on Thursday (Feb 16). Current EPS & P/E ratio stood at 76.03 and 11.47 respectively. The share price has seen a 52-week high of Rs 1124 and a low of Rs 538.10 on BSE.

Gold rates dropped to a one-week low on Thursday (April 17) as higher U. S. equities broke safe-haven demand, and the bullion market showcased signals of a slump in investment demand and technical selling.

Slow physical buying was also offering little support to prices. U. S. gold future for June delivery fell $13.70 at $879.80 per ounce on the COMEX Division of the New York Mercantile Exchange.

The markets ended marginally higher after a huge volatile session. The Sensex lost 316 points from an intradayhigh of 11,339, before closing the day at 11,023 up 76 points. The Nifty shut at 3,384 up 0.4% or 15 points and it lost 105 points from the day's high point of 3,489. In the Broader indices, the BSE Midcap Index was up 33 points and the Smallcap Index closed 22 points. Buying was seen in shares of banking, IT and capital goods, while selling seen in metal, auto and pharma stocks. The volumes were lower as compared to last two days and the market breadth was negative. On a weekly basis, Sensex closed up 2% and Nifty up 1.26%.

Asian stocks declined, dragging the regional benchmark index from a three? month high, on speculation companies will take advantage of a six? week rally to sell shares and shore up their finances. MSCI Asia Pacific Index has rallied 26 percent from a more than five? year low reached on March 9, taking valuations to the highest since November 2007. The Bank of Japan will probably cut its forecasts for the economy and prices next week as the recession takes a toll on spending by companies and households. The world's second?

In its latest research report, Nirmal Bang, an equity research firm said that ICICI Bank, which presently stuck in a band of 405-445, can give good returns within 4-5 trading session.

The report further stated that, if the counter is successful to breach 445, then it will create a huge breakout.

Nirmal Bang Research has advised its clients to hold the scrip with a target price of Rs 460-485.

Precious metals extended the loss on Friday on Comex as dollar strengthened sharply against Euro after the comment from ECB president gave a hint they might cut interest rate by quarter basis points led to correction in precious metals.

The world's largest gold-backed exchange-traded fund, the SPDR Gold Trust, said holdings fell to 1,105.98 tonnes as of April 17, down 13.45 tonnes or 1.2 percent from the previous day. It was the biggest one-day decline since Oct. 3.

The dollar neared a one-month high against the euro with the single currency under selling pressure due to uncertainty over what policy steps the European Central Bank will take next.

Base metals extended their gains on LME and Comex due to drop in inventories, increased optimism in financial markets and expectation of further Chinese buying. Three-month copper on the London Metal Exchange fell to $4731 per tone down by $72 after closing up $74 on Friday.

U. S. crude oil futures for May delivery edged lower by 18 cents to $50.15. The contract settled 35 cents higher at $50.33 on Friday, buoyed by news of a rebound in U. S. consumer confidence and better-than-expected quarterly earnings Natural Gas prices shot up to $3.729 from $3.599 this sharp rally was attributed to short covering ahead of expiry.

Crude oil speculators on the NYMEX decreased net long positions in the week to April 14, according to data from the U. S. Commodity Futures Trading Commission released on Friday. Speculators moved to a net long 4,962 positions during the week, from 12,493 positions in the week to March 31.

Nirmal Bang Research is bullish on Deccan Chronicle Holdings Ltd (DCHL) and maintained ‘Buy’ rating on the stock to achieve a target of Rs 69 within 1-5 days.

Traders can buy the stock on dips with a stop loss of Rs 52.

Shares of the company, on Monday (April 20), closed at Rs 59.80 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 5.50 and 11.27 respectively. The share price has seen a 52-week high of Rs 160 and a low of Rs 25.50 on BSE.

Nirmal Bang has maintained its ‘Buy’ rating on Kingfisher Airlines Limited to achieve a target of Rs 47.50 within 1-5 days.

Traders can buy the stock on dips with a stop loss of Rs 34.90.

Shares of the company, on Monday (April 20), closed at Rs 38.80 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 158.50 and a low of Rs 22 on BSE.

Air France-KLM is making discussions with Kingfisher and Jet Airways in order to serve up Indian secondary markets.

In its latest research report, Nirmal Bang, an equity research firm, has maintained ‘Buy’ rating on Kalindee Rail Nirman Engineers stock, which will give good returns within 4-5 trading session.

The report further stated that, if the counter is successful to breach 117, then it will create a huge breakout.

Nirmal Bang Research has advised its clients to hold the scrip with a target price of Rs 125-137.

In addition, the firm has suggested a support level for the scrip between Rs 91-92.

In his report, Nirmal Bang has announced that the immediate short-term support for nifty is at 3,310 – 3,230 region and a fall below this level will put more pressure and nifty can decline upto 3,155 – 3,110 in the coming days.

The report also said that this could be the best level for the medium term investors to make entry.

Me. Bang also said that presently the stock markets are trading in a very tight range of 3300-3420, a strong move beyond these range on the either side will give an obvious route.

The benchmark indices ended with modest loss and were trading volatile throughout the session. The Sensex closed 81 points lower at 10,898 after hitting an intraday high of 11,068 and low of 10,764. The Nifty was down 12 points to settle at 3,365. It touched an intra-day high of 3,414 and low of 3,309. Among the broader indices the BSE Midcap Index was down 5 points while Smallcap Index shut at up at 17 points. The selling was seen in shares of major banking, capital goods, metal and auto companies and buying was witnessed in select telecom, reality and FMCG sectors. The market breadth was slightly weak and the volumes are on the lower side.

After a steep decline in price during last week, demand from India was seen improving due to Akshaya Tritya festival and U. S. stocks broadly dropped more than 3 percent, stirred by worries that problems would persist for the struggling banking sector which led to sharp upside in precious metals. Every time risk aversion has risen, we have seen precious metals moving up.

Risk aversion and stronger dollar have victimized base metals complex. We have seen sharp correction in copper, nickel, zinc and lead. Despite of drawdown in inventories, copper prices plummeted on LME.

Industrial metals slid on Monday with copper tumbling about 5 percent as skidding equities underlined concern about the economy and demand, while a stronger dollar exerted downward pressure. Copper inventories in LME warehouses fell by 7,300 tonnes to 462,325 tonnes, having dropped nearly 80,000 tonnes since mid-February. Cancelled warrants stocks earmarked for delivery rose to 68,325 tonnes from 64,400 tonnes on Friday.

Crude futures in U. S. steadied below $46 a barrel, after falling nearly 9 percent a day earlier as worries about the U. S. banking sector hit equity markets. The U. S. dollar rallied on safe-haven bids.

New York Mercantile Exchange natural gas futures ended down sharply on Monday, as a steep slide in crude, milder weather forecasts and growing supplies pressured the complex despite a rebound in physical prices.

The benchmark indices closed with modest loss and were trading volatile allthrough the session. The Sensex closed 81 points lower at 10,898 after hitting an intraday high of 11,068 and low of 10,764.

The Nifty was down 12 points to end the day at 3,365. It hit an intra-day high of 3,414 and low of 3,309.

Among the broader indices, BSE Midcap Index slipped 5 points, whereas Smallcap Index closed after gaining 17 points.

Nirmal Bang Research is bullish on Bombay Dyeing & Mfg Company Ltd and maintained ‘Buy’ rating on the stock to achieve a target between Rs 225-240 within 1-5 days.

Traders can buy the stock on dips with a stop loss of Rs 178.

Shares of the company, on Tuesday (April 21), closed at Rs 193.60 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 1065 and a low of Rs 110 on BSE.

The structure looks very positive, so buy the stock and hold, if it maintains above Rs 199, a big move is expected.

Nirmal Bang, one of the leading equity research-cum-broking house, is of the view that investors can buy Television Eighteen with a target price of Rs 115-130.

According to experts at Nirmal Bang, interested traders can buy the stock on dips with a stop loss of Rs 81.

The scrip has very strong support at Rs 100.

Revenue increased by 23 % YoY for fourth quarter and 19% for the year driven by improved sales numbers cloaking 37.22 lakh vehicles for the year a growth of 12% over previous year which was more than double the overall industry growth.

Operating profit increased by 33% for the quarter YoY & 26% for the year driven by decrease in the input costs mainly driven by a huge fall in the steel prices in the fourth quarter.

Other income decreased by 20% for the quarter & was down by 2% on the full year basis.

Gold prices faced resistance at psychological level of $900/Oz. Gold prices fell relinquishing early gains as global share prices arrested theirdecline and overshadowed credit jitters that had previously heightened bullion's appeal.

The world's largest gold-backed exchange-traded fund, the SPDR Gold Trust, said holdings remained unchanged at 1,105.98 tonnes as of April 21 after investor outflows early this week reached their biggest since early September.

Holdings hit a record 1,127.68 tonnes on April 9. Recovery in physical buying by India, the world's largest importer, with MMTC Ltd saying it would import

Base metals witnessed sharp gap down opening on MCX as fall in equities market on Monday triggered selling in non ferrous metals, later during the evening session speech by U. S. Treasury Secretary reduced anxiety amongst traders.

U. S. crude oil futures settled higher on Tuesday lifted by a bounce on Wall Street and amid volatility associated with the expiration of the May crude contract at the close. Crude rose after falling more than $2 earlier as uncertainty about a quick economic recovery and bank stability that pressured global equities pushed oil lower.

Natural Gas fell very sharply due to milder weather and expectation of built in inventory.

South Korea, the world's fifth-largest crude oil buyer, imported 61.82 million barrels of crude or 1.99 million barrels per day (bpd) in March, down from

Indian Stock markets closed negative for the third consecutive day after a positive opening. Selling was witnessed in select counters at higher levels. The BSE Sensex closed at 10,817 down 81 points after hitting an intraday high of 11,036 and low of 10,715. The Nifty shut at 3,330 down 1.04% or 35 points. It has hit a high of 3,401 and low of 3,296 respectively. Among the broader indices the BSE Midcap Index fell 40 points and the Smallcap Index slipped 65 points. Selling was seen in select capital goods, metals, pharma and banking stocks.

Global cues were good, but Indian Stocks markets turned negative after positive opening on Wednesday. Selling was seen in select capital goods, metals, pharma and banking stocks.

The BSE Sensex closed at 10,817 down 81 points after hitting an intraday high of 11,036 and low of 10,715. The Nifty shut at 3,330 down 1.04% or 35 points. It has hit a high of 3,401 and low of 3,296 respectively. Among the broader indices the BSE Midcap Index fell 40 points and the Smallcap Index slipped 65 points.

Indian Stock markets are feeling pressure for past three trading sessions. Nirmal Bang Securities has suggested two sell calls and one buy call for traders.

BHEL, The RSI has given a fresh sell signal, if the stock trade below its 13-day EMA of 1575, then sell with a stop-loss of 1630. Target price for BHEL is 1505-1440.

Moser Baer, Buy on dip and hold, huge volumes witnessed today, strong support 58-54. The stock has a major resistance at Rs 67. Buy with Target price of 69-78 in 1-5 trading sessions.

The benchmark indices saw yet another unpredictable day, and ended on a pessimistic note for the third consecutive day.

The BSE Sensex marked its closure at 10,817, down 81 points, after touching an intraday peak of 11,036 and low of 10,715.

In contrast, the broad-based Nifty closed after losing 35 points at 3,330. It hit an intraday high of 3,401 and low of 3,296 respectively.

BSE Midcap and Smallcap Index dropped 40 points and 65 points respectively.

Nirmal Bang Research is bullish on Moser Baer (India) Limited and maintained ‘Buy’ rating on the stock to achieve a target between Rs 69-78 within 1-5 days.

Traders can buy the stock on dips with a stop loss of Rs 58.

Shares of the company, on Wednesday (April 22), closed at Rs 62.90 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 201.30 and a low of Rs 41.10 on BSE.

According to Nirmal Bang report, the structure looks very positive, so buy the stock and hold, if it maintains above Rs 67, a big move is expected.

Nirmal Bang, one of the leading equity research-cum-broking house, is of the view that investors can sell BHEL with a target price of Rs 1505-1440.

According to experts at Nirmal Bang, interested traders can sell the stock below its 13-day EMA of 1575, with a stop loss of Rs 1630.

Nirmal Bang Research has maintained ‘Sell’ rating on Reliance Capital stock to achieve a target that lies between Rs 475-430.

According to research report, investors can sell the stock with a strict stop loss of Rs 517.

Today (April 23), the stock opened at Rs 512.25 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 41.65 and 12.05 respectively. The share price has seen a 52-week high of Rs 1620 and a low of Rs 274.20 on BSE.

Nirmal Bang is of the view that investors should sell the stock today in order to avoid loss.

Revenue declined by 0.95 % YoY to Rs. 209.3 crs for 4Q 09, whereas it increased 10.12% to Rs. 774.4 crs in FY 2009.

Operating profit declined by 8.94% y?o?y to Rs. 59.7 crs for 4Q 09, while it increased 26.2% to Rs. 182.0 crs for the year driven by decline in raw material costs. Raw material costs as a percentage of revenue declined from 52.3% in FY 2008 to 49.5% in FY 2009

Depreciation increased by 45.3% in 4Q 09. Whereas in FY 2009 it increased by 47.7% to Rs. 8.2 crs.

Gold nudged up on Thursday, adding to gains from the previous session on concern about the global economy and the financial sector, as well as physical buying in India, the world's largest consumer. But the market lacked momentum to push towards the key $900 mark, weighed down by stalling investment in the world's largest goldbacked exchange-traded fund.

Buying from India ahead of the Akshaya Tritya festival on April 27, an auspicious time for gold buying, continues to lend support. Also, while some risk appetite has returned in recent weeks with stocks recovering from their lows, investor preference for gold as a safe-haven asset remained intact.

Base metals witnessed range bound trading session and ended the day with negative bias, Three-month copper on the London Metal Exchange fell $150 to $4,390 per tone and metals like Zinc and Nickel also went down sharply.

Chinese buying for stockpiling purposes had helped push copper prices higher this year touching six-month peaks last week but Beijing's State Reserves Bureau may be done buying for now, having breached its target volume and given the current price levels. The global copper market was in a surplus of

Crude settled up 30 cents at $48.85 on Wednesday, as early gains on U. S. stocks helped offset government data showing a larger-thanexpected 3.9 million-barrel build in U. S. crude stocks to a 19-year high last week.

Natural Gas continued to remain under pressure with moderate temperature and falling crude oil prices.

Defying forecasts for draws, gasoline stocks rose 800,000 barrels and distillates, which include heating oil and diesel, jumped 2.7 million barrels. Oil stored at sea by companies has risen to 100 million barrels, the highest level in recent times, according to Frontline one of the world's biggest independent oil tanker owners.

After volatile session, Indian Stock Markets bounced back smartly. Ending three days of consolidation and range-bound activity, NSE Nifty closed above its 200-day moving average of 3,392. The Sensex hit an intraday high of 11,203 before closing the day at 11,135 up 317 points or 2.93%. The Nifty ended up 2.8% or 93 points higher at 3,424 after hitting a high of 3,439 and low of 3310.

Asian stocks advanced for the second day, as gains by financial companies countered concern the global recession is hurting earnings. India’s benchmark Bombay Stock Exchange Sensitive Index may rise a further 10 percent to 12,300 with investors seeking to buy amid a “market correction” and the outlook for corporate earnings improving, BNP Paribas said.

NII for the quarter March 09 increased by 12.8% YOY and declined by 6.4% QOQ. NII for QOQ decreased on account of reduction in interest earned.

NII for year FY09 increased by 42.0%

Profit before provisioning increased by 44.3% YOY and 7.7% QOQ. Increase in profit was on account of increase in other income.

HDFC Bank reported PAT of 630.9 crores resulting in increase of 1.5% QOQ and 33.9% YOY.

PAT for the year. FY09 increased by 41.2%. EPS for Q409 stood at 14.8 resulting in an increase of 11.6% QOQ and 41.2% YOY

Revenues declined by 23.9 % y-o-y to Rs 28362 crs in Q4 09. Decline in revenues is attributable to poor performance across segments. Revenue from Petrochemicals segment declined 31.1% y-o-y to Rs 9724 crs.

Refining segment registered decline in revenue of 24.6% y-o-y to Rs 21631 crs, while revenue from oil&gas segment declined by 11.1% y-o-y to Rs 736 crs.

The company reported Net Sales including operating other income of Rs 515.93 Crs in Q2 FY 09 as against Rs 500.04 Crs in Q2 FY 08 an increase of 3.08% on YoY basis and Rs 362.24 Crs in Q1 FY 09 an increase of 29.79% QoQ basis.

The company reported an EBIDTA of Rs 279.86 Crs in Q2 FY09 as against Rs 392.70 Crs in Q2 FY08 a decline of 40.32% YoY basis and against Rs 353.22 Crs in Q1 FY09 a decline of 26.21% QoQ basis as lower production cost and deprecation cost has increased.

Gold inched up on Friday, keeping gains above $900 after rallying to a three-week high the previous day, while holdings of the world's biggest gold-backed exchange-traded fund dipped further away from a record high. Prices were supported as physical demand from India, the world's largest consumer, has picked up ahead of the Akshaya Tritya festival on April 27, an auspicious time for gold buying.

Holdings at the world's largest gold-backed exchange-traded fund, the SPDR Gold Trust dropped to 1,104.45 tonnes as of April 23, down 1.53 tonnes or

Base metals witnessed correction during yesterday session where most of them fell by 3-4%. Weak housing numbers coupled with rising jobless claims raised concerns about demand for non ferrous metals.

Japan's output of rolled copper products fell by a record 60 percent from a year earlier in March, data showed on Friday, illustrating the sharp collapse in industrial demand from the world's fourth-biggest consumer. Japan's output of rolled copper products fell to 32,338 tonnes in March on a seasonally adjusted basis, down 60.2 percent from a year earlier, preliminary industry data from the Japan Copper and Brass Association showed.

U. S. crude futures were steady under $50 a barrel, after finishing up the previous day as a fall in the dollar and stock market gains boosted oil prices.

Natural Gas with almost more than double built as compared to last week’s data and hit lower freeze on MCX and price remain under pressure.

Indian Stock Markets opened marginally higher, but later found support on back on strong global cues. The benchmark indices closed on a strong note for the second day led by telecom, capital goods, auto and bank stocks. The Sensex closed 194 points or 1.74% higher at 11,329 and the Nifty rose 1.67% or 57 points to settle at 3,480. The broader indices - CNX Midcap was up 1.68% and BSE Smallcap Index closed 68 points or 1.71%.

Gold rallied on Friday after China said it has added over 450 tonnes to its foreign reserves over the past six years. The reserves have risen to 1054 tonnes from 600 tonnes in 2003. This places China at the fifth spot amongst the gold-holding nations. Analysts expect China to buy more gold to match its holding with other central banks. This creates a very positive sentiment towards gold.

Today is Akshaya Tritya festival, an auspicious time for gold buying in India which continues to lend support.

Base Metals floated higher with the equities markets and mostly ended higher than their previous close. Three month LME Copper rose by $150 to end at $4470 and the three month LME Nickel rose by $475 to finish the day at $1150.

Copper futures edged higher on Fridaytracking a fall in LME inventories. Copper stocks on the LME fell by 10,925 tonnes to 429,500 tonnes. Some traders are of the view that China's State Reserves Bureau (SRB), which bought 350,000 tonnes of copper cathode in the first quarter of 2009, could sell around 50,000 tonnes of copper to cash in on recent rallies.

Crude settled up $6.11 at $51.55 on Friday, as early gains on U. S. stocks helped offset government data showing a arger-thanexpected 3.9 million-barrel build in U. S. crude stocks to a 19-year high last week.

Natural gas futures ended lower on Friday as mild weekend forecasts, growing supplies and a weak economy continued to weigh on sentiment.

The International Energy Agency (IEA), said that it can’t rule out the possibility of an oil supply shortage in 2013-14 because of slower investments in oil exploration and production by OPEC and other oil producing countries.

The benchmark indices closed on a flat note after an extremely volatile and choppy session ahead of expiry. Stocks around the world declined as the Swine Flu outbreak extended beyond Mexico and the U. S., prompting concern of a pandemic and forcing Asian countries to screen travelers.

Maruti Suzuki India Limited, a subsidiary of Suzuki Motor Corporation of Japan, is the leader in the Indian car market with 54% market share. The company has State? of? the? art Manufacturing Facilities at Gurgaon located some 25 km south of New Delhi & has also commissioned a plant at Manesar.

Maruti Suzuki has a sales network of 681 state? of ?the? art showrooms across 454 cities, with a workforce of over 15000 trained sales personnel.

Gold rose to a 3 week high of $918.25 on Monday due to rise in risk aversion amidst fears of swine flu in North America. In the Indian markets, gold rose by Rs 140 to regain the 15,000 mark fast tracked by heavy buying by the retail investors on 'Akshay Tritiya'.

The world's largest gold-backed exchangetraded fund, the SPDR Gold Trust, said its holdings remained at 1,104.45 tonnes as of April 28, unchanged from the previous day. Its holdings hit a record 1,127.68 tonnes on April 9, and remained at that level for a week.

Base metals witnessed range bound trading session and ended the day with negative bias, Copper and zinc shed more than 4% discounting the flu to snow ball into a pandemic and derail the global economy's nascent recovery.

Nickel fell by 5.4% on account of heavy selling by traders and speculators in tandem with a weakening global trend. Reduced off take by consuming industries, such as stainless makers also weighed on nickel prices.

Oil prices fell for the second straight trading session by nearly 3% to $50.14 per barrel on concerns that the swine influenza may affect the travel and hospitality industry resulting in a further delay in the recovery from the global recession. Investors feared a new blow to an already fragile global economy if trade flows are curbed and manufacturing is hit.

The benchmark indices ended smartly with hefty gains after yesterday's steep fall on the back of positive global cues and short covering on the F&O expiry day. The Sensex closed at 11,403 up 402 points or 3.65% and the Nifty surged 3.32% or 112 points to settle at 3,474. Te BSE Midcap Index closed 63 points or 1.83% and the Smallcap Index went up 1.35% or 52.

All BSE sectoral indexes ended in green. Buying was across the board, IT, banking, oil & gas and capital goods let the rally today.

The Sensex ended the April series with 17.5% gain while the Nifty surged 15%.

Movers & Shakers

Gold was quoted at $889.70 an ounce, down by more than 1%, the biggest in more than two weeks. In the Indian markets, gold went down by Rs 195 to close at 14515 continuing the sluggish demand post Akshay Tritiya and ahead of a long weekend.

The dollar fell against euro as much as 0.9% as the risk tolerance drove the demand of greenback southwards and the US Economic data of home prices came out to be positive. But the downside may be limited because of the swine flu, which may see a safe haven buying.

Most of the metals ended the day on a downward note taking cues from the worsening Swine flu situation and weakening demand outlook across the globe. The worst hit was nickel, shedding $575 and closing the day at a three week low of $10800 on LME .

Latest data from the International Copper Study Group (ICSG) confirmed the gloomy demand outlook. ICSG said the world copper market saw a surplus of 155,000 tonnes in January, compared with a deficit of 22,000 tonnes in January 2008.

Oil prices fell again on Tuesday by nearly 40 cents to $50.14 per barrel on the declining demand and swine flu.

US Natural Gas gained more than 2% on short covering ahead of the May expiry.

The stocks of crude in the US went up by 4.6 mn barrels, more than twice expected, reported American Petroleum Institute.

The Output of Natural Gas is expected to go down because of a record decline in the number of gas rigs to below 700. This may be balanced by a weak heating demand leading to a steady build up in inventories and mild weather forecast.

The benchmark indices ended on a very strong note on the first day of the May series on the back of positive Asian cues and huge institution buying. The benchmark indices saw biggest single day gain since Oct 31, 2008. The Sensex closed above the 12,000 mark while the Nifty closed above the 3650 level. Buying was witnessed across the board, IT, capital goods, metals, auto and banking stocks led this sharp rally today. The Sensex closed the day at 12,135 up 6.4% or 732 points after hitting an intra-day high of 12,161. The Nifty surged 5.1% or 180 points to settle at 3,654 after hitting a high of 3664.

The benchmark indices ended on a very strong note on the first day of the May series on the back of positive Asian cues and huge institution buying. The benchmark indices saw biggest single day gain since Oct 31, 2008.

Nirmal Bang has maintained ‘Buy’ rating on IDFC stock to achieve a target of Rs 93 within 1 to 5 days.

Interested traders can buy the stock on dips with a stop loss of Rs 77.

Shares of the company, on Monday (May 04), closed at Rs 85.30 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 182.55 and a low of Rs 44.15 on BSE. Current EPS and P/E of the stock stood at 5.68 & 14.96 respectively.

According to Nirmal Bang, the stock has seen lots of gains in the past few weeks, so buy the stock, it will prove that it’s definitely a strategic stock.

Nirmal Bang, one of the leading equity research-cum-broking house, is of the view that investors can buy Punj Lloyd stock with a target price of Rs 154.

The company is presently trading around Rs 128 level.

According to experts at Nirmal Bang, the stock may face some resistance around Rs 135 levels, but after that it can even have more upward movement.

The scrip has very strong support at Rs 114.

In its latest research report, Nirmal Bang, an equity research firm, said that GE Shipping, which presently stuck in a band of 213-230, can give good returns within 4-5 trading sessions.

The report further stated that, if the counter is successful to breach 230, then it will create a huge breakout.

Nirmal Bang Research has advised investors to hold the stock to achieve a target price of Rs 248-265.

Furthermore, the firm has suggested a support level for the scrip at Rs 205 and resistance level at Rs 229.

After a decent run on Monday, Indian Stock markets ended Tuesday flat after a volatile session. US Markets registered decent gains on Monday trading session. Even though the benchmark indices ended flat the undertone of the market remained strong. The market breadth was in favour of the advances and the volumes were quite high as compared to previous day. The benchmark index closed marginally lower at 12,131 down just 4 points after trading in the range of 12,197 – 11,985.

The markets ended flat after a volatile session. Even though the benchmark indices ended flat the undertone of the markets remained strong. The market breadth was in favour of the advances and the volumes were quite high as compared to previous day.

The benchmark index closed marginally lower at 12,131 down just 4 points after trading in the range of 12,197 - 11,985. The Nifty ended 8 points higher at 3,661. Among the Broader indices - the BSE Midcap Index was up 1.85% or 67 and the Smallcap Index rose 1.98% or 80 points.

Nirmal Bang has maintained 'Buy' rating on Praj Industries stock to achieve a target of Rs 87 within 1 to 5 days.

Interested traders can buy the stock on dips with a stop loss of Rs 68.

Shares of the company, on Tuesday (May 05), closed at Rs 72.65 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 221.90 and a low of Rs 45.10 on BSE. Current EPS and P/E of the stock stood at 7.07 & 10.97 respectively.

According to Nirmal Bang, the stock has seen lots of gains in the past few weeks, so buy the stock, it will prove that it's definitely a strategic stock.

Nirmal Bang, one of the leading equity research-cum-broking house, is of the view that investors can buy Moser Baer stock with a target price of Rs 85.

The company is presently trading around Rs 72 level.

According to experts at Nirmal Bang, the stock may face some resistance around Rs 78 levels, but after that it can even have more upward movement.

The scrip has very strong support at Rs 178.

Shares of the company, on Monday (May 04), closed at Rs 127.40 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 201.30 and a low of Rs 41.10 on BSE.

Gold declined to trade below $900/oz on Wednesday (0830 IST), having risen to its strongest in a week the previous day, as the dollar gained against the euro, with softer oil prices also adding to the selling pressure of the gold.

Spot gold was quoted at $896.80 /oz, up $1.35 from New York's notional close. The dollar gained against the euro aided by Fed Chief Ben Bernanke’s statements that the U. S. economic contraction may be easing and reports of services industries shrink at a slower pace in April.

Gold was not able to breach the crucial resistance of $918. We recommend selling gold on rallies during the day.

Copper prices rose in London and Shanghai on Wednesday (0830 IST), buoyed by positive U. S. purchasing manager data and comments by Federal Reserve Chairman Ben Bernanke that markets are in "far better shape" now than last year.

LME copper stocks fell 3,775 tonnes to 394,925 tonnes, their lowest since mid-January. The ration of material scheduled for delivery out of inventory dropped to 79,450 tonnes, down from 83,100 tonnes at the end of last week.

Copper prices rose in London and Shanghai on Wednesday (0830 IST), buoyed by positive U. S. purchasing manager data and comments by Federal Reserve Chairman Ben Bernanke that markets are in "far better shape" now than last year.

LME copper stocks fell 3,775 tonnes to 394,925 tonnes, their lowest since mid-January. The ration of material scheduled for delivery out of inventory dropped to 79,450 tonnes, down from 83,100 tonnes at the end of last week.

Oil fell on Tuesday after hitting a 2009 high as bulging oil inventories and falling energy demand outweighed fragile hopes for an economic recovery. Natural gas futures ended lower on Tuesday, as moderate weather forecasts, growing supplies and softer crude prices weighed on the complex despite a strong run up in the previous two sessions.

A U. S. Energy Department report today may show that crude- oil inventories increased 2.5 million barrels last week as refiners produced less fuels on weaker demand for gasoline and diesel. Oil fell yesterday as U. S. equity markets dropped for the first time in three days.

The company reported a Net Sales of Rs 454.73 Crs in FY 09 as against Rs 265.72 Crs in FY 08 an increase of 71.1%. The results were in line with our expectation. We had projected Net Sales of Rs 491.4 Crs in FY 09.

The growth in revenue was mainly backed by strong order book. The company had an opening order book of Rs 450 Crs during FY 09 and booked Rs 608.7 Crs of fresh order during the year.

The company reported an EBIDTA of Rs 33.93 Crs in FY09 as against Rs 19.39 Crs in FY08 an increase of 75%. We had projected an EBIDTA of Rs 37.02 Crs.

The rupee rose by 0.5%, on account of strong flow on overseas portfolio investments in surging equity markets. Foreign investors bought $1.3 billion more Indian shares than they sold in April, the biggest monthly purchases since December 2007 according to Data from SEBI. The FII flows into debt market stood at $490 million in April. US dollar could further turn weak, reflecting the health of the US economy, which is mired by recession and a huge deficit, against other global currencies. This could give further strength to rupee.

The markets showed immense strength on the back of more than 9% growth in March ending on a positive note gaining as much as 17.46% on Sensex & 15% on Nifty during the April month.

The rally was driven by strong FII inflows in the month of April coupled with quarterly & yearly results which were better than expected. Firm Global markets were amongst the other driving factors behind the huge rally which also saw Midcaps gaining 18.86% & Small caps gaining 21.38% both outperforming the benchmark indices.

Sector Analysis

For the month of April 2009 the major gainers in BSE 500 were Reliance Industrial Infrastructure Ltd, Anant Raj Industries Ltd, Jai Corp Ltd, Essar oil Limited and BF Utilities. The major losers were Akruti City, Lakshmi Energy foods Ltd, KSK Energy Ltd, Divis Laboratories and Provogue (India) ltd.

Reliance Industrial Infrastructure Ltd surged 150.38 % over the last one-month period on rumors that it might be merged with another unlisted group company, which owns a 1440-km gas pipeline in the country. However the company has denied the rumors.

Akruti City was down by 43.49% in the month of April 09. The stock is continuously falling due to actions taken by SEBI.

Lakshmi Energy foods limited decreased by 22.90% in the month of April 09. Net profit of Lakshmi Energy & Foods declined 38.51% to Rs 18.27 crore in the quarter ended March 2009 as against Rs 29.71 crore during the previous quarter ended March 2008. Sales declined

51.15% to Rs 151.32 crore in the quarter ended March 2009 as against Rs 309.79 crore during the previous quarter ended March 2008.

During April month G-20 nations agreed to triple the money the IMF can lend to rescue crisis-stricken nations, to $750 bn. The agency will also get another $250 bn in Special Drawing Rights, an overdraft facility for its 185 members. The World Bank and other lenders to poor nations will receive another $100 bn, and a further $250 bn will be devoted to trade finance, the G-20 decided.

The April series has been an outstanding month for the benchmark indices, as huge buying was witnessed across the board. In April we saw nifty crossing its long term 200-DMA which in indeed is a very positive sign for the Indian markets.

Global cues remained mixed as we saw Asian, European and US markets trading lower on fears of the Swine flu and renewed credit concerns.

Financial stocks were also volatile after the Federal Reserve asked biggest bank in the US to conduct stress test to determine how they performed.

The May series opened at Rs 30,592 cr as against Rs 27,060 cr last month wherein Nifty futures is Rs 13,580 cr and stock futures are at Rs 17,012 cr. The rising open interest indicates that there is more active participation and the confidence level is also coming back.

The volatility might be sharper in coming days as we have experienced on 28 and 29 April 09 in the Nifty.

Now, it is necessary that the market consolidates and form a strong base so that the current uptrend can sustain and the markets can test 3,800/12,500 levels in the coming days.

Commodity space has been quite vibrant during the last month with base metals and energies complex leading the way and precious metals losing their shine. The lag effects of global stimulus packages were quite evident in the bull run of commodities.

The major driver of gold in the first quarter of 2009 was the ETF's demand, which remained subdued and we saw redemptions taking place from the largest gold ETF i. e., SPDR Gold Trust. After Akshaya Tritiya, the demand from the Indian gold market was seen waning and stability in financial market is likely to weigh on gold prices.

We recommend selling of gold on rallies; on Comex we feel it might not be able to breach the crucial resistance of $918/oz. The outlook for the fortnight is to sell gold on rallies with a downside target of $865/oz and Rs 14150/10gm.

Base Metals: Most of the metals settled in the negative territory following the outbreak of Swine flu across the globe, an add-on to the deteriorating economic scenario.

The overall scenario turned gloomy on back of reports released by various international groups indicating dwindling demand and cut down in production. Lead took the highest hit, shedding 13.71% during the fortnight, followed by copper, which lost 8.82% during the same period.

Copper is moving in the Uptrend in the medium term.

Copper is expected to move up from the support line at 220.

Copper can move up to 260-65, if crosses the earlier high at 242 levels.

One should maintain a stop-loss of 208 in the buy position in copper at 215-20 levels, targeting 242 and 265.

Market News:

Copper production at Chile's Escondida mine, the world's largest, slumped 45% in the first quarter from a year ago to 156,400 tonnes, part-owner Rio Tinto Ltd PLC said on Wednesday.

Gold rose on Wednesday as stress tests on U. S. banks underscored lingering uncertainties in the financial markets, bolstering the metal's safe-haven appeal. Gold traded higher in spite of a Wall Street rally ahead of Thursday's release of results of government stress tests on 19 large U. S. banks.

Spot gold was quoted at $909.85 an ounce, up 0.7% from New York's notional close. The world's largest gold-backed exchangetraded fund, the SPDR Gold Trust’s , holdings fell to 1,104.09 tonnes as of May 6, down 0.36 tonnes, or 0.03 percent, from the previous day.

Copper, nickel and zinc prices rose more than 4 percent on Wednesday as global share price gains, fuelled by stronger than forecast U. S. jobs data that helped lift demand sentiment.

Shanghai copper prices rallied sharply on Thursday (0830 IST), chasing steep gains in London after a U. S. private sector jobs report injected further confidence into investors hoping the worst of the economic downturn has passed.

Oil prices rose to five-month highs above $56 a barrel on a surprise drop in U. S. gasoline inventories.

June natural gas gained 2.67 cents, to close at $3.882 per mmBtu after trading between $3.469 and $3.73, a two week high.

U. S. crude oil futures settled at their highest levels in five months on Wednesday as a drawdown in gasoline supplies and a smallerthan- expected rise in crude stocks combined to lift prices.

The benchmark indices closed on a strong note ahead of US bank stress test results. Positive global cues were also supportive, most Asian indices ended higher 2-4% and European markets also opened positive. The Sensex closed 164 points or 1.37% higher at 12,116 and the Nifty shut at 3684 up 1.62% or 59 points. Among the broader indices - the BSE Midcap Index was up 101 points or 2.75% and the Smallcap Index rose 2.66% or 110 points.

NII for the quarter March 09 increased by 11% YOY and decreased by 18% QOQ. NII for QOQ decreased on account of increase in interest expenditure, due to high cost of deposits. NII for for year FY09 increase by 33.6%. Going forward management had said that cost of funding will will come down post June.

Profit before provisioning increased by 2.3 %YOY and increased by 7% QOQ. Increase in profit for QOQ was on account of increase in other income and decrease in operating expenses of the bank.

Bank Of Baroda reported PAT of 465.07 crores resulting in decrease of 31% QOQ and 10.8% YOY. PAT for the year FY09 increased by 24.5%.

The Revenue increased by 22.4% on YoY basis and fell by 7% on QoQ basis due to slumping of steel prices and on the back of inventory write down.

Operating Profit decreased by 37.2% on YoY basis and by 52% on QoQ basis due to increase in raw material inventory and lower sales volume. The company also announced a production cut temporarily for two months from November & December 2008.

The Interest increased by 81% on YoY basis and by 60% on QoQ basis and Depreciation increased by 20.4% on YoY basis and by 24% on QoQ basis.

Nirmal Bang, one of the leading equity research-cum-broking house, is of the view that investors can buy Tata Motors Ltd with a target price of Rs 295 in 1-5 trading sessions.

The company is presently trading around Rs 268-272 level.

According to experts at Nirmal Bang, the stock may face some resistance around Rs 280 levels, but after that it can even have more upward movement.

The scrip has very strong support at Rs 262.

In its latest research report, Nirmal Bang, an equity research firm, said that Reliance Communications (RCom), which presently stuck in a band of 230-250, can give good returns within 4-5 trading sessions.

The report further stated that, if the counter is successful to breach 250, then it will create a huge breakout.

Nirmal Bang Research has advised investors to hold the stock to achieve a target price of Rs 280.

Furthermore, the firm has suggested a support level for the scrip at Rs 229 and resistance level at Rs 255.

Gold bounced to $910 per ounce on Friday (0830 IST) but was off a five-week high of $925.15 marked on the previous day, as its safe-haven allure waned on bets that global economic pain could be easing.

Spot gold was quoted $913.00 GMT, up 0.4 percent from New York's notional close of $909.05.

The dollar and the yen remained steady on Friday (0830 IST), after stress test results show none of the 19 U. S. banks examined faces insolvency, but some of the biggest need to raise more capital.

Silver climbed above $14 an ounce when the market opened on Thursday as uncertainties ahead of a stress test on U. S. banks boosted the safe-haven demand.

Nickel was the only metal which witnessed a rise in base metals complex on the ground of a draw down in LME inventory, a marginal increase in cancelled warrants and announcement of a production cut by Vale, one of the world’s largest producer of Nickel. It surged by Rs. 10.9, settling down at Rs. 642.40. Copper and Zinc dropped by
1.9% and 2.2% and ended the day at 234 and 76.55 respectively on MCX.

U. S. crude futures edged higher towards $57 a barrel on Friday, extending a 5.3 percent rise made over the past two days on growing signs that global economic pain may be moderating.

New York Mercantile Exchange natural gas futures ended up sharply Thursday despite a bearish weekly inventory report, as steady technical buying after key breaks of resistance overwhelmed concerns about supplies.

Crude on Thursday closed at a near six-month high of $56.71 a barrel, the highest settle mentsince Nov. 14, after hitting a peak of $58.57 earlier.

After a strong session yesterday, Indian Stock Markets registered decline on Friday. The benchmark index ended on a weak note sliding 241 points to 11,876, it touched an intra-day high of 12,180 points. The Nifty fell 1.72% or 63 points to settle at 3,620 after hitting a high of 3710. The BSE Midcap Index ended down 0.4% and the BSE Smallcap Index ended down 0.9%. Banks, metals, telecom and IT shares led the fall in the markets today.

The benchmark index ended on a weak note sliding 241 points to 11,876, it touched an intra?day high of 12,180 points. The Nifty fell 1.72% or 63 points to settle at 3,620 after hitting a high of 3710. The BSE Midcap Index ended down 0.4% and the BSE Smallcap Index ended down 0.9%. Banks, metals, telecom and IT shares led the fall in the markets today. For the week, the Sensex was however up 4.1 , Nifty ends up 4.2% and Nifty Junior up 4.2%. And sectorally, the BSE Metal Index up 14.5%, BSE Cap Goods Index up 7.2% and BSE Bank Index up 5.3%.

Japan's Nikkei average dipped 0.2 percent on Monday, after earlier hitting its highest point in six months, as Toyota Motor Corp skidded after forecasting a much bigger?than?expected $8.6 billion annual loss. But financial shares such as Mizuho Financial Group surged on optimism about the U.S. banking system and the economy as regulators said most U.S. banks were sound. The market is finding it hard to keep surging after rising 34 percent so far from an intra?day low hit on March 10.

Nirmal Bang Research has suggested investors to 'sell' State Bank Of India (SBI) stock as there are full chances of a downward trend in this stock in the coming days.

According to report, investors can sell the stock with a strict stop loss of Rs 1,345 to achieve a target that lies between Rs 1,305-1,255.

Today (May 11), the stock opened at Rs 1,389 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 130.14 and 10.32 respectively. The share price has seen a 52-week high of Rs 1768 and a low of Rs 894 on BSE.
 

Nirmal Bang Research has maintained 'Sell' rating on Reliance Capital stock to achieve a target of Rs 515.

According to research report, investors can sell the stock with a strict stop loss of Rs 585.

Today (May 11), the stock opened at Rs 595 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 39.41 and 14.42 respectively. The share price has seen a 52-week high of Rs 1470 and a low of Rs 274.20 on BSE.

Nirmal Bang is of the view that investors should sell the stock today in order to avoid loss.

Nirmal Bang has maintained 'Buy' rating on Neyveli Lignite stock to achieve a target of Rs 118 within 4 to 5 trading sessions.

Interested traders can buy the stock on dips with a stop loss of Rs 94, as the stock has given a major trend line breakout 94.

Shares of the company, on Friday (May 08), closed at Rs 102.90 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 155.44 and a low of Rs 44.50 on BSE. Current EPS and P/E of the stock stood at 6.47 & 15.61 respectively.

Gold bounced to $916.5 per ounce on Monday (0830 IST) as its safe-haven allure waned on bets that global economic pain could be easing.

Gold settled down 60 cents at $914.90 an ounce on Comex on Friday after U. S. non-farm payrolls fell less than expected in April and investors took signs of an economic recovery as a reason to sell bullion held as a safe store of value.

However, the losses were limited as the dollar slipped to a six-week low against the euro and concerns that an economic recovery could spark inflation supported buying of the metal as a hedge against rising prices.

Base metals held on to the previous levels in a lower band of consolidation in spite of the upbeat government data showing a smallerthan- expected payroll drop in April.

Copper, Zinc and Aluminum ended the session marginally lower on MCX. The slight drop in prices could be attributed to build up in inventories in this complex.

Crude rose on Friday, lifted by hopes that the economy may be poised for a recovery as equities rose, the euro strengthened against the dollar and refinery snags added support.

U. S. natural gas futures were trading about 10 cents higher in early electronic trade Friday, rising again with stronger crude futures and global equity gains amid expectations that recent good economic data would translate into better demand for energy products.

The benchmark indices ended lower on profit booking and weak Asian and European cues. The sell-off was seen in shares of metal, realty, capital good, infrastructure, telecom, and oil & gas companies. Selling was across the board and all sectoral indices closed in the red. The Bse Sensex ended down 193 points to close at 11,683 after trading in the range of 12,026-11,621. The Nifty shut at 3,554 down 66 points or 1.8% after trading between 3658-3534. Among the broader indices - the BSE Midcap Index slipped 1.56% or 59 points and the Smallcap Index lost 2.15% or 92 points.

Movers & Shakers

Nirmal Bang Research has suggested investors to 'sell' Jindal Steel & Power stock as there are full chances of a downward trend in this stock.

According to report, investors can sell the stock with a strict stop loss of Rs 1,630 to achieve a target that lies between Rs 1510-1440-1340.

Today (May 12), the stock opened at Rs 1,522, down Rs 74.35, as against its yesterday’s closure at Rs 1,564 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 101.34 and 15.44 respectively. The share price has seen a 52-week high of Rs 2,484 and a low of Rs 517.30 on BSE.
 

The benchmark indices ended lower on profit booking and weak Asian and European cues. The sell?off was seen in shares of metal, realty, capital good, infrastructure, telecom, and oil & gas companies. Selling was across the board and all sectoral indices closed in the red.

Nirmal Bang, one of the leading equity research-cum-broking house, is of the view that investors can sell Jaiprakash Associates Ltd with a target price between Rs 128-111.

According to research report, investors can sell the stock with a strict stop loss of Rs 145.

Today (May 12), the stock opened at Rs 135, as against its last closure of Rs 142 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 7.44 and 18.49 respectively. The share price has seen a 52-week high of Rs 272.40 and a low of Rs 47.05 on BSE.

Nirmal Bang is of the view that investors should sell the stock today in order to avoid loss.

Asian stocks slid from a seven?month high, led by banks and mining companies, as HSBC Holdings Plc said 2009 will be a “tough” year and metal prices fell. London? based HSBC said charges for impaired loans rose in all customer groups and regions during the first quarter.

Gold was steady on Tuesday (0830 IST) after it pared a 3 percent gain made last week on a rebound in the dollar, while declines in global stock markets underpinned its allure as a safehaven asset.

Gold was at $913.90 an ounce, up 0.1 percent from New York's notional close of $912.60. On Monday it fell about 0.4 percent.

The dollar and yen held broad gains made the previous day as investors continued to take profits on last week's rally in riskier assets. On Monday, the dollar rebounded from a fourmonth low against a basket of currencies (Dollar Index), making dollar-priced bullion pricier for non-U. S. investors.

Base metals slipped as participants took their cue from slipping equity markets and grabbed profits from recent gains.

Copper, Zinc and Nickel ended the session marginally lower on MCX.

On LME, Zinc's last bid at $1,542 a tonne was off $1,555 at the previous close, and battery material lead's last bid fell to $1,426 from $1,465. Tin traded at $13,900 a tonne, down from $13,995. Nickel closed lower at $12,925 from $13,100.

U. S. crude futures ended lower on Monday, as players booked profits after prices hit a near six-month high on Friday.

New York Mercantile Exchange natural gas futures trimmed early losses but still ended lower on Monday, as mild weather forecasts, growing supplies and profit taking weighed on the complex despite improved technicals after last week's strong gains.

Nirmal Bang, one of the leading equity research-cum-broking house, is of the view that investors can buy BEML Limited with a target price of Rs 570 in 4-5 trading sessions.

The company is presently trading around Rs 516-520 level.

According to experts at Nirmal Bang, the stock may face some resistance around Rs 540 levels, but after that it can even have more upward movement.

The scrip has very strong support at Rs 490.

In its latest research report, Nirmal Bang, an equity research firm, said that DLF, which presently stuck in a band of 235-240, can give good returns within 4-5 trading sessions.

The report further stated that, if the counter is successful to breach 242, then it will create a huge breakout.

Nirmal Bang Research has advised investors to hold the stock to achieve a target price that lies between Rs 255-270.

Furthermore, the firm has suggested a support level for the scrip at Rs 220.

Nirmal Bang has maintained 'Buy' rating on EduComp Solutions stock to achieve a target of that lies between Rs 2620-2750 within 4-5 trading sessions.

Interested traders can buy the stock on dips with a stop loss at Rs 2370.

The report further stated that, if the counter is successful to breach 2,470, then it will create a huge breakout.

Shares of the company, on Tuesday (May 11), closed at Rs 2,423.20 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 4,185 and a low of Rs 1,331 on BSE. Current EPS and P/E of the stock stood at 74.14 & 32.93 respectively.

Gold breached $920 per ounce during the session, considered to be a strong resistance level ,as a weaker dollar and a wider U. S. trade gap prompted fund buying. It ended the day above $920 at $924.7. Silver edged higher gaining $0.326 and ending the day at $14.204 on COMEX.

The dollar sank to a four-month low against the euro as growing optimism about the global economy boosted investors' risk appetite and curbed demand for the U. S. currency as a safe haven.

The world's largest gold-backed exchange-traded fund, the SPDR Gold Trust, said holdings stood at 1,104.09 tonnes as of May 12, unchanged since May 6.

Most of the base metals except for Lead rose on LME as participants took their cue from rising equity markets.

Nickel gained strength on LME and MCX on the back of news of a mine closure by BHP Billiton. Nickel rose by Rs. 2 and settled at 643.6 on MCX.

Copper also saw a decent rise in its prices following the inventory drop at LME and fresh imports by China.

China's refined copper production rose to 338,300 tonnes in April from March's 319,400 tonnes, the National Bureau of Statistics said on Wednesday.

Oil rose for a second day after China, the world’s second-biggest energyconsuming country, said yesterday crude imports increased by 14 percent in April.

Natural gas for June delivery rose 14.7 cents, or 3.4 percent, to settle at $4.55 on the New York Mercantile Exchange, the highest close since Feb, 13. Gas has gained 41 percent since touching $3.155 on April 27, its lowest price since September 2002. It rose to the highest price in three months on speculation demand for energy will begin to rebound as the recession eases.

The benchmark indices ended on a strong note after two days of profit booking. This sharp rally was despite the weak IIP data, which came in at ?2.3% for March. Fresh buying and huge short? covering was witnessed across the board. Technology, banking, realty, telecom and infrastructure stocks supported today's rally.

The Sensex surged 475 points and touched an intraday high of 12,194 before closing at
12,158 up 4.07%. The Nifty ended 3.56% or 126 points higher at 3681 after hitting day's high of 3691. Among the broader indices ? the midcap and smallcap indices on Bse were up 0.94 % and 1.32 %.

China's industrial production grew less than economists estimated in April as electricity output fell and exports tumbled. Retail sales climbed. Output rose 7.3 percent from a year earlier, the statistics bureau said today, after gaining 8.3 percent in March. That was less than the 8.6 percent median estimate of 20 economists surveyed by Bloomberg News. Retail sales grew 14.8 percent from a year earlier. Most of the Asian markets were flat. The MSCI Asia Pacific Index rose 0.1 percent to 97.95 as of 11 a. m. in Tokyo. The benchmark dropped yesterday, ending a six? day winning streak.

Indian Stock Markets closed lower on Wednesday after registering a decent gain on Tuesday. The benchmark indices ended lower after an extremely volatile session ahead of election results on May 16. US Markets closed mixed on Tuesday. Nasdaq closed at 1715 while Dow Jones was up by 50 points at 8469.

After yesterday's sharp rise, markets witnessed profit booking at higher levels. Banking, metal, infrastructure, technology and oil & gas shares were under pressure. The Sensex closed at 12,019 down 138 points and remained in the range of 12256-11934. The Nifty shut at 3635 down 46 points or 1.25% after swinging in the range of

U.S. and European stocks fell yesterday as American retail sales unexpectedly decreased in April, the Bank of England said the U.K. economy faces a slow recovery and companies from ING Groep NV to Applied Materials Inc. posted losses. Treasuries rose, while copper tumbled for a fifth day. The 0.4 percent decrease in retail sales followed a revised 1.3 percent drop in March that was larger than previously estimated. Excluding auto dealers, sales fell 0.5 percent. Walt Disney Co., Fortune Brands Inc. and Best Buy Co.

The benchmark indices ended lower after an extremely volatile session ahead of election results on May 16. After yesterday’s sharp rise, markets witnessed profit booking at higher levels. Banking, metal, infrastructure, technology and oil & gas shares were under pressure. The Sensex closed at 12,019 down 138 points and remained in the range of 12256?11934. The Nifty shut at 3635 down 46 points or 1.25% after swinging in the range of 3709?3610.

NIfty once again traded from the level of 3723, but could not maintain beyond that level.

However, this has clarified that stock markets are going through distribution pattern at higher levels.

At this time, the outlook still remains precautious as Nifty is caught in the range of 3500-3730.

A new development will appear only if nifty future breaches this range.

Till then investors are advised to keep away from the market till the election results are out.

The near term support for Nifty is at 3500, and breaching this level can take nifty future to 3250.

Gold bounced to $926.7 per ounce in the last trading session on COMEX as investors returned to safe-haven asset after the weak April's U. S retail sales data. Gold rose by Rs. 200 on MCX and settled the day at Rs. 14897.

The world's largest gold-backed exchangetraded fund, the SPDR Gold Trust, said holdings rose to 1,105.62 tonnes as of May
13, up 1.53 tonnes from the previous business day.

The dollar rallied broadly on Wednesday as an unexpected decline in April's U. S. retail sales raised concerns about the state of the economy and rekindled demand for the greenback as a safe haven.

The benchmark indices ended lower for the second consecutive on the back of weak US and Asian cues. The Sensex closed 147 points lower at 11,873 after swinging in the range of 11935-11695. The Nifty shut down 1.15% or 42 points to settle at 3,593. Among the broader indices the BSE Midcap Index was up 15 points and the Smallcap Index rose 23 points. Selling pressure was seen in oil & gas, technology and capital goods stocks, while buying was visible in realty, auto and FMCG.

Base metals complex witnessed a downside in the last trading session on the back of weak U. S retail sales data and appreciating dollar against the euro.

India copper futures reversed early gains, Copper June contract ended at Rs. 224.10 after hitting a high of Rs 232.2, as the dollar rebounded and on signs of a possible slowdown in buying from China.

Copper inventories continued to fall. In LME registered warehouses, stocks dropped by 5,275 tonnes to 373,750 tonnes, their lowest level in four months. While cancelled warrants rose to 76,225 tonnes from Tuesday's 74,500 tonnes, 20 percent of the total stockpile.

U. S. crude futures fell below $58 a barrel and settled at $57.7 when demand worries, lower equities and a stronger dollar combined to help push down prices.

U. S. natural gas also witnessed a decline of $0.227 on NYMEX.

Industrial consumption of oil in the United States, the world's top energy user, continues to drop and probably will not recover until late this year or early 2010, the chief executive officer of oil major BP Plc said on Wednesday.

The benchmark indices ended lower for the second consecutive on the back of weak US and Asian cues. The Sensex closed 147 points lower at 11,873 after swinging in the range of 11935?11695. The Nifty shut down 1.15% or 42 points to settle at 3,593. Among the broader indices the BSE Midcap Index was up 15 points and the Smallcap Index rose 23 points. Selling pressure was seen in oil & gas, technology and capital goods stocks, while buying was visible in realty, auto and FMCG.

US Stocks rose on Thursday as investors returned to financial and technology shares on bets the recent rally could have more room to grow after a brief pullback.

Technology gains were led by big?cap tech and semiconductor companies after five straight days of losses for the PHLX Semiconductor index Apple Inc was among the top boosts on Nasdaq, rising 2.9 percent to $122.95, while the PHLX index climbed 3.2 percent.

Gold tracked back from its lows yesterday as the dollar retreated from earlier highs, with worse-than-expected US macro data and weaker European equity markets fuelling doubts about the recent bull run being sustainable.

Gold holdings in the SPDR Gold Trust, the biggest exchange-traded fund backed by bullion, stood unchanged at 1,105.62 metric tons yesterday. They rose the day before for the first time since April 9.

Copper fell on concerns that Chinese demand was subsiding and after weak US data reined in speculation the global economy could be on the way to recovery. Copper for three-month delivery on the London Metal Exchange fell nearly 3% to a day’s low of $4,315 a tonne. Futures are down 6.6 percent this week as China’s industrial production and U. S. retail sales came in below forecasts. China’s copper imports reached a record last month even as the country’s export slump deepened, raising concern that supply may outpace consumption.

Crude oil changed little after retreating from a six-month high of $60 a barrel this week on concern that the global economic recovery may falter.

Natural gas futures fell in New York after U. S. government reports indicated that demand for the fuel was showing few signs of rebounding during the recession. Gas stockpiles rose 95 bcf in the week ended May 8 to 2.013 trillion cubic feet.

BREAK UP OF GENERAL ELECTIONS 2009 Finally the day that counts is
here. What happens today is likely to shape the future of the nation.
The UPA or the United Progressive Alliance - formed with a majority of
Congress party, sprang a surprise when they snatched victory from the
defeat predicted by the poll pundits.

Gold climbed to its highest level in six weeks on Friday after data showed U. S. core inflation in April rose more than expected, up 0.3% in April from March. This boosted the precious metal's appeal as a hedge against rising prices.

According to Sun Zhaoxue, chariman of the China Gold Association, "the country should boost its gold holdings to 3% of its total foreign exchange reserves within five years, compared with 1.6% now." China's rare disclosure of its gold holdings could be a sign it will step up its gold purchases, as it worries that inflation or a slide in the dollar may erode the value of its foreign reserves.

Copper for three-month delivery contract on LME rose by $5 to close at $4450 on the back of better than expected U. S manufacturing and consumer sentiment data. It ended Rs. 1.25 lower on MCX closing at Rs. 221.7.

Copper, Zinc and Aluminum also ended the session marginally lower on MCX. Nickel May contract saw a drop of Rs. 12 on MCX.

LME copper inventories fell 3 percent to 357,800 tonnes on Friday, their lowest since early January. Cancelled warrnts -- material set to leave the warehouses -- fell 15 percent to 61,300 tonnes.

U. S. crude oil futures ended almost 4 percent lower on Friday amid demand worries following a pullback on Wall Street and as the dollar's safe-haven bets rose on fears that a global economic recovery may be far off. Lower oil demand forecasts from OPEC, the International Energy Agency and U. S. Energy Information Administration have caused crude oil to drop.

New York Mercantile Exchange natural gas futures ended lower Friday for a third straight day, pressured by a sharp slide in crude, fairly moderate weather forecasts and concerns about growing supplies.

Indian Stock markets witnessed sharp upswing with BSE Sensex and NSE Nifty hitting upper circuit twice. This has happened first time in Indian Stock markets. The trading volume was only Rs 1000 crore as the trading was halted both times due to sharp rise in stock prices.

Nirmal Bang Market Report

Crude futures edged higher on Monday, lifted by hopes that the economy may be poised for a recovery as equities rose and thereby an improvement in crude demand. Supply concerns also triggered an upside in prices as there was news of a fire breakout at one of the U. S. refineries. NYMEX crude ended the day at $ 59.16 after it rose by $ 2.82.

Natural Gas declined by Rs. 9.7 and closed the day at Rs. 195.5 on MCX.

Nigerian militants said on Monday they had blown up two oil and gas pipelines in the Niger Delta and would blockade waterways in the region in an effort to disrupt energy exports from the OPEC country.

Copper 3M contract rose by $ 95, closing the day at $ 4545 on LME, on the back of expectations of better housing data from U. S. Copper on MCX couldn’t hold its ground because of sharp appreciation in rupee against the dollar and lost Rs. 2.5 during the last trading session.

Nickel also declined sharply by Rs. 18.9 on MCX and settled at Rs. 591.2.

Aluminum inventories touched a record high of nearly 4 million tonnes at LME on Monday.

Experts expect the rate of groundbreaking for new homes in the United States to rise in April to an annual rate of 520,000 units from 510,000 units in March.

Gold witnessed a major downside movement on Monday following strong appreciation in rupee and expectations of better housing data from U. S. It inched down by Rs. 623 on MCX and closed at Rs. 14206 in the last trading session. COMEX Gold also declined by $9.5 and ended the day at $922.4.

The world's largest gold-backed exchangetraded fund, the SPDR Gold Trust, said its holdings stood at 1,105.62 tonnes as of May 18, unchanged from the previous business day.

Indian Stock markets witnessed volatile session on Tuesday after historic rise on Monday. Stock markets opened lower while all major technical experts were expecting stock markets to open nearly 2-3% higher. Good trading volumes were seen in all categories of stocks.

Gold rose on Tuesday with an unexpected fall in U. S. housing starts to record lows in April sharpened risk aversion and pressured the dollar, supporting the metal's appeal as a safe store of value. Gold jumped by $ 5.09 and settled at $927.5 on COMEX.

Experts said that safe-haven demand could diminish as the closely watched Volatility Index fell below 30 for the first time in eight months, indicating the perceived need for portfolio insurance is diminishing.

The Rupee remained firmed against the dollar and ended flat in the last trading session. The U. S. dollar fell slightly against the Euro to close the day at 1.3623.

Nickel rose sharply by Rs. 7.5 on MCX, closing the day at Rs. 598.7. Copper and Zinc also moved slightly north. This rise in base metals defied poor Housing starts and Building permits data but got support from the prevailing optimism about a global recovery very soon.

Lead and Aluminum ended the session marginally lower on MCX as well as on LME. Aluminum 3M contract saw a drop of $20, closing at $1500.

LME copper inventories fell to 348825 tonnes on Tuesday, their lowest since early January. Cancelled warrants -- material set to leave the warehouses -- fell to 57700 tonnes.

U. S. crude futures hovered above $60 a barrel on Tuesday and settled at $60.1, more than a percent rise from the previous day close as a flurry of refinery problems stoked supply fears at the start of the U. S. summer driving season.

U. S. natural gas futures slid by Rs. 9.1 on MCX and ended the day at Rs. 187. It also fell slightly on NYMEX pressured by mild spring weather and growing supplies.

The UPA win party seems to be over for Sensex stocks, but Mid Cap and Small caps performed very well today. Indian Stock Indices ended the day lower as traders booked profit in frontline stocks. The benchmark indices ended lower on the back of profit booking in telecom, technology, oil & gas and financial stocks. The Sensex closed at 14,060 down 241 points after trading in the range of 14405-13976. The Nifty shut at 4270 down 48 points or 1.1% after hitting a low 4244 and a high of 4362. The broader markets outperformed the benchmark indices. The BSE midcap index surged 6 % while the BSE small cap index rose 8.8 %.

Gold was almost flat on Thursday, taking a breather a day after hitting an eight-week high of more than $940 per ounce on a rally in oil and the dollar's slide to its lowest level in nearly five months.

The world's largest gold-backed exchangetraded fund, the SPDR Gold Trust, said holdings stood at 1,105.62 tonnes on Wednesday, unchanged since May 13.

Demand for gold in the Middle East fell 26 percent year-on-year during the first quarter of 2009 as economic uncertainty and high prices discouraged buyers, according to an industry report released on Wednesday

The Base metals complex opened up positive yesterday, but later during the day the metal prices pushed lower with Surplus data in copper. Despite of positive cues from LME Inventories the prices failed to maintain, especially Zinc and Lead.

Despite the upbeat tone in the economically sensitive industrial metal, the macro picture remained cloudy after data showed Japan's economy shrank at a record pace in the first quarter.

U. S. crude futures fell below $62 a barrel on Thursday, giving back some gains from the previous day when oil rallied to a sixmonth high after the U. S. government reported a deep drop in crude and gasoline stockpiles. U. S. oil prices rose more than 3 percent on Wednesday with futures also supported by the dollar's fall to its lowest in nearly five months against the euro and a basket of currencies. That boosted commodities denominated in dollars.

The benchmark indices ended lower on the back of profit booking in telecom, technology, oil & gas and financial stocks. The Sensex closed at 14,060 down 241 points after trading in the range of 14405?13976. The Nifty shut at 4270 down 48 points or 1.1% after hitting a low 4244 and a high of 4362. The broader markets outperformed the benchmark indices. The BSE midcap index surged 6 % while the BSE small cap index rose 8.8 %.

The benchmark indices continued to remain under selling pressure for the third consecutive day. The Sensex ended at 13,736 down 324 points after trading between 14,089 and 13,704. The Nifty shed 59 points or 1.39% to settle at 4,211 after trading in the range of 4318-4199. Among the broader indices - the BSE smallcap index gained over 2.5 % while the midcap index remained unchanged. Capital goods, banking and auto stocks fell today while oil & gas counters advanced today. The market breadth was quite strong and the volumes were lower compared to previous sessions.

Movers & Shakers

Nirmal Bang has maintained 'Buy' rating on Reliance Communications Ltd stock to achieve a target of Rs 350 within 4 to 5 trading sessions.

Technically on the daily chart the counter is giving an overbought sign as the RSI is at 77, but the stock can be purchased on dip as strong support is placed in the region of
290-275.

Shares of the company, on Thursday (May 21), closed at Rs 322.30 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 606.70 and a low of Rs 131.35 on BSE. Current EPS and P/E of the stock stood at 11.40 & 27.61 respectively.

After a decent post election result rally, Indian stock markets are witnessing pressure as valuations seemed over-stretched. Also, many traders booked profits at higher levels as markets surprised most of them with historical rise in a single day.

The benchmark indices continued to remain under selling pressure for the third consecutive day. The Sensex ended at 13,736 down 324 points after trading between
14,089 and 13,704. The Nifty shed 59 points or 1.39% to settle at 4,211 after trading in the range of 4318?

Nirmal Bang, one of the leading equity research-cum-broking house, is of the view that investors can buy Biocon Ltd with a target price of Rs 195 in the coming days.

The company is presently trading around Rs 166-171 level.

According to experts at Nirmal Bang, the stock may face some resistance around Rs 171 levels, but after that it can even have more upward movement. This stock has been consolidating above its 200-day moving average of 140 and is now giving a sign of revival.

The scrip has very strong support at Rs 150-140.

Nirmal Bang has maintained 'Buy' rating on Rolta stock to achieve a target of Rs 130 within 4 to 5 trading sessions.

According to Nirmal Bang, huge buying interest seen in today's session, this stock has been underperforming for quite some time, buy on dip, strong support area 90-86 and resistance is at 117.

Shares of the company, on Thursday (May 21), marked its closure at Rs 105.40 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 360 and a low of Rs 40.70 on BSE. Current EPS and P/E of the stock stood at 19.85 & 5.81 respectively.

Gold hit 2-month highs on Thursday as investors sought a safe haven as the dollar slid against the basket of currencies on worries that U. S. deficit might be widening and economic recovery would be painfully slow and triggered an upside in gold prices.

Silver also rose sharply by $200, riding with the rise in Gold, ending the day at $22467 on COMEX.

The world's largest gold-backed exchangetraded fund, the SPDR Gold Trust, said holdings stood at 1,105.62 tonnes as of May 21, unchanged from the previous business day.

Base metal complex edged down sharply on the concerns of falling demand as weak economic outlook reined in speculation of a brisk global recovery in near future.

Copper 3M contract lost as much as $170 on LME and ended the day at $4470 taking clues from Chinese imports data which shows stocks are at record highs and thereby demand may dwindle in the future. The weak economic outlook by FED further added pressure on the prices.

Other base metals also lost ground in line with Copper and ended the day on a weak note.

Crude oil saw a correction on Thursday after a week’s rally on the back of profit bookings and weak economic outlook. It tracked back to the level of $61 after touching $62 in the previous session.

Natural gas futures fell by $0.366 following the reports of a buildup in inventory. The report showed an inventory of 103 bcf against the expected figure of 95 bcf.

The U. S. Energy Information Administration report showed that total domestic gas inventories of 2.116 trillion cubic feet stood at 514 bcf, or 32 percent, above last year and
387 bcf, or 22 percent, above the five-year average.

The benchmark indices ended higher after three day's of consolidation. Buying was seen in infrastructure, banking, capital goods, pharma, while auto, select cement, reality and technology stocks remained under selling pressure. The Sensex was up 151 points to close at 13887 after remaining in the range of 13936-13611. The Nifty shut at 4238 up 28 points. Among the broader indices - the BSE smallcap index rose 3.2 % and the BSE midcap index gained 1.8 %, outperforming the Sensex.

Treasury Secretary Timothy Geithner said the Obama administration is committed to reducing the federal budget deficit after concerns rose that the U. S. debt rating may eventually be threatened with a downgrade. He added that the target is reducing the gap to 3 percent of gross domestic product or smaller, from a projected 12.9 percent this year. Britain saw its own AAA rating endangered earlier yesterday when Standard & Poor's lowered its outlook on the nation's grade to "negative" from "stable," citing a debt level approaching 100 percent of U. K. GDP.

Bajaj Auto declared quarterly results reporting a decline in sales and operating profit. The company reported a lower EPS but hopes for improvements in FY10.

Revenue decreased by 8.6% Q4FY09 and 2.5% for the year due to lower sales volume registered by the company during the year.

Operating profit decreased by 47.9% for the quarter & 23.4% for the year. The company was not able to reduce its raw material prices in Q3FY09 and Q4FY09 even though the prices had reduced because they had stocked up the raw materials for the year at higher prices.

The benchmark indices ended flat after trading in a very narrow range. The Sensex swung between day's high of 14,028 and a low of 13,819, before closing the day at 13,913 up 26 points. While the NSE Nifty shed 0.95 points to close at 4,237, after swinging between an intraday high of 4,270 and low of 4,205. Among the broader indices – the BSE Midcap Index gained 2.83% or 134.47 points and the Smallcap Index rose 5.01% or 276 points. Buying interest was seen in realty, pharma, metals, auto and oil & gas stocks.

Brazilian stocks gained for a second day after the country’s consumer confidence jumped to the highest level in eight months and increases in metals prices sent producers higher.

European stocks rose for the first time in three days as a rally in health?care and food shares overshadowed lower?than?estimated German business confidence and North Korea’s first nuclear test in three years.

Precious metals traded slightly up on Monday following the depreciation in rupee backed by outflow of funds on the concerns of instability arising from the nuclear test conducted by North Korea.

Gold and Silver prices rose by 0.4% and 0.8% respectively on MCX.

The world's largest gold-backed exchangetraded fund, the SPDR Gold Trust <GLD, said its holdings stayed at 1,118.76 tonnes as of May 25, unchanged from May 22. South Africa's gold output fell by 10% to 49,713.6 kg in the first quarter of 2009 compared with the fourth quarter of 2008.

Base metals complex remained firm during the day and most of them ended the day on a positive note, getting some support from depreciation in dollar.

Copper and Nickel were up by 0.82% and 1.2% in the last trading session on MCX.

Shanghai copper rose nearly 2 percent on Tuesday, its third straight day of gains, while London metal inched up, supported by a weak dollar.

Russian miner Norilsk Nickel said it had trimmed its 2009 nickel output forecast to between 285,000 tonnes and 300,000 tonnes, from an earlier estimate of 290,000 tonnes to
305,000 tonnes.

Crude futures rose marginally on Monday on the expectation of no supply cut by OPEC countries in the meeting ahead.

Natural Gas continues to remain laggard and dropped by Rs. 1.3 in the last trading session on MCX.

Oil prices fell toward $61 a barrel on Monday ahead of an OPEC meeting in Vienna, where the group was widely expected to agree to hold output steady.

The Organization of the Petroleum Exporting Countries (OPEC) will meet on Thursday to review its oil supply policy and is expected to keep output targets steady while calling for improved compliance by its members.

The markets ended sharply lower after consolidating for couple of days. The Sensex shed 324 points or 2.33% to settle at 13,589 after hitting a low of 13,518. The Nifty touched an intraday low of 4092 before closing the day at 4117 down 2.85% or 121 points. The broader markets on the BSE also witnessed huge selling. The BSE small cap index fell 3.1 % and the BSE midcap index shed 3.4 %.

Nifty future has just closed at its 61.8% retracement level of 4115 as shown below on the daily chart. If Nifty trades below the 4115 mark in coming days, then we could witness a major breakdown, or for trader’s it’s a buying opportunity keeping a stop?loss of 4115. Resistance point is at 4205?4275. Fresh buy only if nifty maintains above 4300.

Nirmal Bang has maintained ‘Buy’ rating on Satyam Computer Services Ltd stock to achieve a short term target of Rs 72.

The interested investors can buy the stock on dips and hold it to reap good returns. The strong support is placed in the region of 48.

The stock may face some resistance around Rs 56 levels, but after that it can even have more upward movement.

Shares of the company, on Tuesday (May 26), closed at Rs 52.40 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 544 and a low of Rs 11.50 on BSE. Current EPS and P/E of the stock stood at 21.32 & 2.56 respectively.

Nirmal Bang has maintained 'Buy' rating on Gujarat Alkalies and Chemicals (GACL) stock to achieve a target of Rs 120 in short term.

According to Nirmal Bang, investors can buy and hold the stock with a stop loss of Rs 91.

The scrip may face some resistance around Rs 105.

Shares of the company, on Tuesday (May 26), marked its closure at Rs 99.05 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 200 and a low of Rs 53.50 on BSE. Current EPS and P/E of the stock stood at 25.75 & 4 respectively.

Nirmal Bang has maintained 'Buy' rating on Videocon Industries Ltd stock to achieve a short term target of Rs 205.

According to experts at Nirmal Bang, the stock has broken the consolidation phase and ready for a big rally.

The scrip has very strong support at Rs 150-140.

Shares of the company, on Tuesday (May 26), ended at Rs 164.95 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 392 and a low of Rs 82 on BSE. Current EPS and P/E of the stock stood at 24.58 & 6.88 respectively.

Precious metals ended slightly lower as investors booked profits on the back of better than expected U. S. Consumer Confidence Index data.

MCX gold also slid but the downside was capped by further depreciation in Rupee. Gold and Silver prices fell by 0.11% and 0.47% respectively on MCX.

The dollar edged up against the yen on Tuesday after data showed improvement in U. S. consumer confidence, while worries about Germany's economy and banks knocked the euro off last week's 4-½ month high.

Base metals complex gained some ground on the expectations of fresh buying following better than expected U. S. Consumer Confidence Index data.

MCX Nickel witnessed a sharp rise of more than 5%, ending the day at Rs. 637.1. Copper and lead were up by 2.41% and 1.41% in the last trading session on MCX.

China's State Reserves Bureau (SRB) has quietly sold off over the past month a small volume of its contracted copper imports and might sell up to 50,000 tonnes, temporarily reversing course after months of buying.

Crude futures on NYMEX initially got support from U. S. Consumer Confidence Index data but ended the day marginally lower at $62.28.

Natural Gas continues to remain laggard and ended at $3.51 on NYMEX. Though it saw some upside on MCX due to depreciation in Rupee against the dollar.

Japan's crude oil imports dropped 11.1 percent in April to 18.919 million kilolitres (3.97 million barrels per day), the sixth straight month of year-on-year declines, the Ministry of Finance said on Wednesday.

Precious metals jumped initially but ended the day flat as the rise in dollar against the Euro and the U. S. housing data released last day did not support the rise in Gold prices.

The dollar rose against the euro on Wednesday as fears of a U. S. credit downgrade faded and a European Central Bank official said interest rates could fall further if economic conditions worsened.

Base metals remained subdued and ended the session in the negative territory. The rise in dollar against the Euro made base metals expensive for investors and the U. S. housing data too could not inspire an upside in base metals.

Copper and Nickel were down by Rs. 1.55 and Rs. 7.2 respectively on MCX. COMEX Copper declined by almost $80 on LME.

U. S. housing data on Wednesday sent mixed signals to investors. The number of unsold homes rose last month, stoking worries that prices have further to fall.

U. S. crude futures rose on Wednesday as the crude inventories fell more than expected. It rose by $1 and closed the day at $63.45. Fall in gasoline inventories also supported the upside in crude prices.

Natural Gas, which remained laggard, also rose by Rs. 1.2 on MCX.

U. S. inventories of crude oil fell more than expected last week as imports remained relatively low, the American Petroleum Institute said on Wednesday.

The benchmark indices ended on a very strong note ahead of the F&O May expiry, led by the positive cues from the US and the Asian region after US consumer confidence jumped to its highest level since September. The Sensex finished at 14,110 up 520 points, after trading between 14,122 and 13,780. The Nifty rose 3.8 % to close at 4,276 up 159 points, after trading between 4,286-4,189. Among the broader indices - the BSE smallcap index surged 3.4 % and the CNX midcap index gained 3.2 %. All sectoral indices on the BSE ended in the positive terrain. Buying was seen in realty, banking, metal, infrastructure and technology stocks.

A spike in U. S. Treasury yields triggered a selloff in equity markets on Wednesday, as investors feared rising funding costs might delay a potential recovery in the world's largest economy. The three main U. S. stock indexes turned negative early afternoon as Treasuries maturing in 10 and 30 years lost over a full point in price, sending yields to six? and nine? month highs, respectively.

The accompanying rise in bond yields raised worries about a U. S. economic recovery as this would lead to increased borrowing costs for consumers and corporations.

The benchmark indices ended the last day of May series on a positive note. The BSE Sensex closed 186 points or 1.32% higher at 14,296. The Nifty shut at 4337 up 1.43% or 61 points higher. Among the broader indices ? the BSE Midcap Index was up 0.78% or 38 and the Smallcap Index went up 13 points or 0.24%. Buying was witnessed in shares of capital goods, metal, banking, oil & gas exploration and select power companies. Among the sectors, Realty, Metal, Bank and Capital Goods indices were the highest gainers, went up 43%?68%.

U.S. stocks rallied, led by banking and energy shares, as a rebound in 10?year Treasuries eased concern record government debt sales will trigger higher borrowing costs and oil climbed to a six?month high. Orders for durable goods, while lingering near a 13?year low, did increase more than forecast in April, adding to evidence that the recession is easing. Orders climbed 1.9% from the previous month after a revised 2.1% drop in March.

Entertainment Network (India) Limited (ENIL) operates FM radio broadcasting stations through the brand Radio Mirchi in 32 Indian cities and is headquartered in Mumbai. ENIL has a wholly owned subsidiary, Times Innovative Media Limited (TIM), through which it operates its out-of-home media brand Times OOH and experiential marketing brand 360 Degree Experience. Its promoter, Bennett, Coleman & Co. Limited (BCCL), is the flagship company of The Times Group, which has a heritage of over 150 years and is one of India's leading media groups.

Precious metals jumped in the last trading session against a backdrop of fall in dollar against the Euro which led to some fresh buying by investors.

MCX Gold rose by Rs. 90 while COMEX Gold rose by $9 and closed the day at $961.5.

The yen fell broadly on Thursday as a recent spike in U. S. bond yields and strong U. S. economic data attracted Japanese investors into overseas assets, while the dollar also remained pressured against the euro.

Base metals complex gained some momentum in the last trading session after the release of strong manufacturing data from U. S. which raised the expectations of an improvement in demand and thereby enhanced the risk appetite of investors. The fall in dollar also supported the upside in base metals prices.

Lead and Nickel were up by more than 2% on MCX.

The U. S. Commerce Department reported new orders for durable goods rose 1.9 percent from March, the biggest percentage advance since December 2007.

U. S. crude futures rose on Thursday as the report released by EIA showed that crude inventories fell more than expected and OPEC demand outlook remained optimistic. It rose by $1.63 and closed the day at $65.08.

Natural Gas witnessed a sharp gain of around 9% on the back of more than expected fall in inventory, indicating improvement in demand.

U. S. crude inventories fell 5.4 million barrels to 363.1 million barrels in the week ended May 22, the federal Energy Information Administration said on Thursday. This dwarfed the 700,000-barrel decline analysts had forecast in a Reuters poll.

The benchmark indices ended strong on the first day of the June series. Positive announcements from the oil ministry about deregulation of oil prices and better-than-expected GDP numbers helped the markets to remain on the stronger side. The Sensex closed at 14,625 up 329 points after remaining in the range of 14727-14320. The Nifty shut at 4,449 up 112 points. Among the broader indices - the BSE Midcap Index was up 2.8% and the Smallcap Index rose 3.4%. Buying was seen in buying in oil & gas, infrastructure, realty, metal, auto, telecom and technology stocks.

Movers & Shakers

Q4 and Yearly results were ahead of our expectations.

Though the reported PAT is lower than estimated but if we adjust it to forex loss of Rs. 7.3Cr, The PAT is way ahead of our estimate.

Q4 YoY increase in revenue by 25.3% to Rs. 58.0Cr was mainly driven by high volume, which increased by 48% but due to change in product mix the overall realization was down.

The EBITDA margin improved by 101 basis points to 15.4 % and EBITDA was up by 34.1% to Rs. 8.9Cr in Q4.

Precious metals continued the upside rally on Friday on the back of falling dollar and weak U. S. Prelim GDP data. Gold futures rose above $980 an ounce to end near a threemonth high.

The world's largest gold-backed exchangetraded fund, the SPDR Gold Trust, said holdings stood at 1,118.76 tonnes as of May 29, unchanged from the previous business day.

Base metals complex gained sharply on Friday as the dollar dove against the euro and economic optimism remained upbeat after a batch of data suggested the global recession may be easing. Lead and Nickel were up by more than 3% on LME.

London Metal Exchange warehouse Copper stocks slipped 4,850 tonnes to 312,275 tonnes on Friday. Canceled warrants -- metal set to leave warehouses -- dropped to
38,825 tonnes from 43,650 tonnes in the previous session.

U. S. crude oil futures ended higher for the sixth straight session on Friday, lifted by economic data from the U. S., Japan and India that reinforced perception the global recession was abating, and as the dollar weakened to a five-month low.

U. S. natural gas futures could not track crude oil and ended, hit by profit taking after big gains on Thursday.

Iran's oil minister said crude prices were expected to rise in a "calm fashion", the Oil Ministry web site SHANA reported on Sunday.

The benchmark indices continued its upward momentum on strong Asian & European cues. The Sensex gained 215 points to finish at 14,840, its highest close since September 09. The Nifty ended at 4,530 levels up 81 points. Among the broader indices ? the BSE midcap index rose 2.9 % and the BSE smallcap index surged 3.5 %. Buying was seen in technology, metals, reality, FMCG stocks led the gains today. The June Future ended with a 10 points premium.

U. S. stocks rallied, sending the Standard & Poor's 500 Index to a seven? month high, after reports on personal income, manufacturing and construction beat economists' forecasts. Treasuries fell for the first time in three days and the dollar weakened to its lowest level of 2009.

The US PMI rose to 42.8 in May vs. 40.1 April and consensus estimate of 42.0. Construction spending unexpectedly surged in April.

Nirmal Bang has maintained 'Buy' rating on Rolta India to achieve an intraday target that lies between Rs 150-160.

According to Nirmal Bang, huge buying interest witnessed in this counter and the stock has been consolidating around 110-122, and it has broken the range with huge volumes in today's session.

The stock can be purchased on dip with a stop loss of Rs 120.

Shares of the company, on Monday (June 01), marked its closure at Rs 130.45 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 360 and a low of Rs 40.70 on BSE. Current EPS and P/E of the stock stood at 19.85 & 6.85 respectively.

Nirmal Bang has maintained 'Buy' rating on Satyam Computer Services Ltd stock to achieve a target of Rs 65.

The interested day traders can buy the stock on dips. The strong support is placed in the region of 53.

The stock may see some resistance around Rs 58 levels, but after that it can even have more upward movement.

Shares of the company, on Monday (June 01), closed at Rs 56.65 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 544 and a low of Rs 11.50 on BSE. Current EPS and P/E of the stock stood at 21.32 & 2.92 respectively.