MARKET VIEW
NIFTY FO CLOSED @ 4156 AS ON 7.07.2009
DIRECTION of the INDIAN STOCK MARKET 3.07.2009
==============================================
4073 to 4230
BELOW @ 4173 level, it will be in BEARISH TREND. SELLING is suggested with SL of 4181 level for the target @ 4097 to 4073 levels; Regarding BULLISH TREND, BUYING is suggested @ the level of 4181 with SL of 4173 Target @ 4210 to 4230 levels.....!!!
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Levels for 7th July
COMPANY SELL BELOW THIS BUY ABOVE THIS Down Target 3 Down Target 2 Down Target 1 Up
Target 1 Up Target 2 Up Target 3
BSE SENSEX 14392 14654 12821 13265 13652 15405 15792 16236
BHARTI ARTL 793.52 805.94 719.00 740.06 758.42 841.58 859.94 881.00
RANBAXY LAB. 253.42 258.46 223.20 231.74 239.19 272.91 280.36 288.90
MAH & MAH 716.78 727.99 649.50 668.51 685.09 760.16 776.74 795.75
FINANC.TEC. 1292.42 1317.49 1142.00 1184.51 1221.57 1389.43 1426.49 1469.00
LANCO INFRA 358.52 369.07 295.25 313.13 328.72 399.33 414.92 432.80
===================================================================================
Small divestment target drag PSU stocks lower
Shares of nine state run firms fell 1.83% to 8.33% after the Union Budget 2009-2010 lacked a clear road map on divestment in state-run firms.
===================================================================================
Maytas Infra takes off on bagging airport development projects
Maytas Infra 2.89% to Rs 67.75 at 10:09 IST after the Karnataka state government awarded two greenfield airport projects to the company.
===================================================================================
Aegis Logistics speeds up on buyback plan
Aegis Logistics rose 7.87% to Rs 127.50 at 12:31 IST on BSE, after the company said its board will meet on 9 July 2009 to consider buyback of its own equity shares.
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Block deal boosts Ambuja Cements
Ambuja Cements rose 2.06% to Rs 89 at 11:50 IST on BSE, after a block deal of five lakh shares was executed on NSE at Rs 88.50 per share.
===================================================================================
Budget brings cheer for auto industry
Nine auto sector companies rose by 0.33% to 6.56% after the government introduced various tax incentives in the Union Budget 2009-2010.
At 12:42 IST, the BSE Auto index rose 3.45% at 4613.67. It outperformed the Sensex, which was up 0.86% at 14163.78.
Exide Industries (up 6.56%), Mahindra & Mahindra (up 5.21%), Maruti Suzuki India (up 5.02%), Hero Honda Motors (up 4.33%), Bajaj Auto (up 3.59%), Ashok Leyland (up 2.05%), Bosch (up 1.52%), Apollo Tyres (up 0.34%), and Bharat Forge (up 0.33%), jumped.
The government reduced additional excise duty by Rs 5,000 per unit on cars with an engine capacity of 2,000 cubic centimeter (cc) and more.
Finance Minister Pranab Mukherjee, while presenting the Union Budget for 2009-10, on Monday, 6 July 2009, also cut the duty on petrol-driven trucks to 8% from 20%.
Mukherjee left Cenvat duty unchanged at 8%. The government had announced a 4% in Cenvat in December 2008 as part of its stimulus package, which helped in riving the auto sales up to a certain extent.
Meanwhile, government's focus on rural spending and infrastructure is also seen as positive for the auto industry in the mid to long term.
Aiming on higher disposable income in rural India and inclusive growth, the government increased the allocation towards National Rural Employment Guarantee Scheme by 144% at Rs 39,100 crore in the Union Budget 2009-2010. Mukherjee said the government will ensure that agriculture grows by at least 4% per year. This would propel consumption spends in the economy and thereby help volume growth for auto industry.
The government has announced additional interest rate subvention of 1% to farmers who pay short-term farm loans on schedule. The government has also decided to extend agriculture debt waiver by six months and to provide additional Rs 1000 crore over interim budget for irrigation.
NIFTY FO CLOSED @ 4156 AS ON 7.07.2009
DIRECTION of the INDIAN STOCK MARKET 3.07.2009
==============================================
4073 to 4230
BELOW @ 4173 level, it will be in BEARISH TREND. SELLING is suggested with SL of 4181 level for the target @ 4097 to 4073 levels; Regarding BULLISH TREND, BUYING is suggested @ the level of 4181 with SL of 4173 Target @ 4210 to 4230 levels.....!!!
=====================================================================================
Levels for 7th July
COMPANY SELL BELOW THIS BUY ABOVE THIS Down Target 3 Down Target 2 Down Target 1 Up
Target 1 Up Target 2 Up Target 3
BSE SENSEX 14392 14654 12821 13265 13652 15405 15792 16236
BHARTI ARTL 793.52 805.94 719.00 740.06 758.42 841.58 859.94 881.00
RANBAXY LAB. 253.42 258.46 223.20 231.74 239.19 272.91 280.36 288.90
MAH & MAH 716.78 727.99 649.50 668.51 685.09 760.16 776.74 795.75
FINANC.TEC. 1292.42 1317.49 1142.00 1184.51 1221.57 1389.43 1426.49 1469.00
LANCO INFRA 358.52 369.07 295.25 313.13 328.72 399.33 414.92 432.80
===================================================================================
Small divestment target drag PSU stocks lower
Shares of nine state run firms fell 1.83% to 8.33% after the Union Budget 2009-2010 lacked a clear road map on divestment in state-run firms.
===================================================================================
Maytas Infra takes off on bagging airport development projects
Maytas Infra 2.89% to Rs 67.75 at 10:09 IST after the Karnataka state government awarded two greenfield airport projects to the company.
===================================================================================
Aegis Logistics speeds up on buyback plan
Aegis Logistics rose 7.87% to Rs 127.50 at 12:31 IST on BSE, after the company said its board will meet on 9 July 2009 to consider buyback of its own equity shares.
===================================================================================
Block deal boosts Ambuja Cements
Ambuja Cements rose 2.06% to Rs 89 at 11:50 IST on BSE, after a block deal of five lakh shares was executed on NSE at Rs 88.50 per share.
===================================================================================
Budget brings cheer for auto industry
Nine auto sector companies rose by 0.33% to 6.56% after the government introduced various tax incentives in the Union Budget 2009-2010.
At 12:42 IST, the BSE Auto index rose 3.45% at 4613.67. It outperformed the Sensex, which was up 0.86% at 14163.78.
Exide Industries (up 6.56%), Mahindra & Mahindra (up 5.21%), Maruti Suzuki India (up 5.02%), Hero Honda Motors (up 4.33%), Bajaj Auto (up 3.59%), Ashok Leyland (up 2.05%), Bosch (up 1.52%), Apollo Tyres (up 0.34%), and Bharat Forge (up 0.33%), jumped.
The government reduced additional excise duty by Rs 5,000 per unit on cars with an engine capacity of 2,000 cubic centimeter (cc) and more.
Finance Minister Pranab Mukherjee, while presenting the Union Budget for 2009-10, on Monday, 6 July 2009, also cut the duty on petrol-driven trucks to 8% from 20%.
Mukherjee left Cenvat duty unchanged at 8%. The government had announced a 4% in Cenvat in December 2008 as part of its stimulus package, which helped in riving the auto sales up to a certain extent.
Meanwhile, government's focus on rural spending and infrastructure is also seen as positive for the auto industry in the mid to long term.
Aiming on higher disposable income in rural India and inclusive growth, the government increased the allocation towards National Rural Employment Guarantee Scheme by 144% at Rs 39,100 crore in the Union Budget 2009-2010. Mukherjee said the government will ensure that agriculture grows by at least 4% per year. This would propel consumption spends in the economy and thereby help volume growth for auto industry.
The government has announced additional interest rate subvention of 1% to farmers who pay short-term farm loans on schedule. The government has also decided to extend agriculture debt waiver by six months and to provide additional Rs 1000 crore over interim budget for irrigation.
