MARKET ANALYSIS ON 30.07.08

As I have mentioned in my Market Today Banks will recover well and market will gain on Global cues and even Asian Markets will open in positive helping our market to regain. It happened the same way. Banks stood as leader and the surprise pack was the realty estate. There was fresh buying seen in heavy weights iand in some midcaps.
Major GainersThe major gainer today again was Indiabulls Finance with 14.65% , other major stocks which gained were Punj Lloyd(13.02%),T he stock gained on having Noor project jointly with L&T,RNRL(12.38%), Indiabulls Real estate(12.29%), Axis Bank(10.04%){ Ref to Stock Analysis posted yesterday}, Bank of Baroda(9.10%) and Jindal Steel and Power(8.65%)
Other stocks which showed a good gain were Tata Comm, HDFC, Hindustan Zinc{ Strongly recommended in stock Analysis}, Tata Power, Reliance Infra and Reliance Industries.
Major LosersAmong the major losers were Zee entertainment(5.62%) , Essar Shipping(4.66%), NTPC(4.17%), Praj Industries(2.89%), Deccan Chronicle(2.86%), Amtek Auto(1.95%) and ITC(1.58%). Other losers were NALCO, Max India, JSW Steel,Patni Computers, Alstom Project and Pantaloon.
Finally the benchmark Sensex 30 closed at 14,280.67, up 500.04 points or 3.63%,. Nifty ended with a gain of 123.70 points or 2.95% and closed at 4,313.55.
Markest breadth was exteremly positive, about 1921 shares have advanced, 1012 shares declined, and 221 shares are unchanged.
Sectoral ChangesToday FMCG was passive and the only sector in Red otherwise all sectors were in gain leaded by Banks and Realty, Oil and Gas and Capital goods joined the party with some good gain and metals were shining. Health sector was defensive as usual.
Volume ToppersNewly listed Birla Cotsyn was among the most traded counter on the bourses. Others like, RNRL, IFCI, RPL, Ispat industries, KS Oil, NTPC, Unitech, Punj Lloyd and Cairn India were among the stocks in demand in the liquid universe.
POST MORTEM The market was due to recovery before F & O expiry dut to short coverings in Banks and Realty. Heavy weights has witnessed some buying, market breadth was positive and global cues were favorable, Asian market hinted the positiveness and later European Market acted as a booster. Crude were calm down by 2% and overall sentiments were positive.
Market Next Trading Day
As F & O expiry is tomorrow there will a cautious trading market breadth is positive, Banks are certainly looking good but as far as Realty sector is concerned I think it was mere short covering which led to surprise gain, we may see some downfall in that sector. Overall picture is bright and as I have been mentioning for so many days to grab chance to enter on the day when RBI policy will be declared. Those who have entered will certainly earn as market looks good in near term. Details will be at market Today but in brief hot sectors will be Power and Infrastructures.
Hot stock may be Axis Bank and Sterlite Industries.. Lastly hope you all had a good trading day as the day was good for shorters, congratulations and all the best for