The BSE Sensex and Nifty ended with 85 points and 27 points i.e., 18645 and 5604 respectively. Nifty future made a high 5613 and closed at 5592;
The foreign institutional investors (FIIs) have bought shares worth a net of Rs1,039.60 crore on September 07, 2010, much higher than Rs486.20 crore on September 06, 2010.
The petrol and diesel prices across the country increased by 9-13 paise a litre with effect from Tuesday (September 07, 2010) midnight, after the government decided to increase the commission to petrol pump dealers. In Delhi, the price of petrol will go up by 13 paise to Rs51.56 a litre, while diesel will be 9 paise costlier to Rs37.71 per litre. The price of auto liquefied petroleum gas (LPG) will also increase by 8 paise to Rs30.94 a litre. This news may keep the oil and gas companies' shares in focus today and for some time.
FOR TODAY: Our markets may take a breathe in today's trade after a runaway from 5500 level and consolidate for few days. The European markets fell on Tuesday, stubbing out a two-week rally. The US stocks fell in very light volume on Tuesday as investors seized on renewed concerns about European banks as a reason to sell shares after strong gains last week. The Asian markets were trading with a negative bias after Wall Street declined. The indices around the world were in the red amid concerns over the health of European banks. SGX Nifty is trading down around 16 points lower (5575). All these indicators are suggesting that the opening on the Dalal Street may be negative and around 5574-5575. NIFTY may face selling pressure if traded below 5570 and expected to test 5510 and 5470 levels in near future.
Being the short-trading week, the stock specific activity is expected to rule the market. Angel Broking is overweight on Infrastructure: "Our top picks of the sector are IVRCL Infra, Nagarjuna Construction and Patel Engineering – in sequence of preference."
DISCLAIMER: I have no position except some RIL in Cash Segment.
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