Sensex ended the day at 9,734,Nifty shut shop at 2892, down 102 points

4:15 PM - The market had a volatile day today; it opened lower, then clawed higher on hopes of a benign inflation number, but slipped again when the expectations were not met. Sensex ended the day at 9,734, down 385 points from the previous close. Nifty shut shop at 2892, down 102 points. BSE Midcap index lost 2.2% and BSE Smallcap, 2.2% in trade today. FMCG, realty and healthcare stocks saw decent buying interest, while metal, IT and oil & gas stocks witnessed significant selling pressure. Top Sensex gainers included JP Associates, HUL, Ranbaxy and DLF, whereas losers were Tata Steel, Tata Motors, Sterlite Industries and RIL, among others.

4:11 PM - Buy Mcnally Bharat Engineering for a target price of Rs 70, says PINC Research, reports CNBC-TV18. The stock is at Rs 57.30 on the BSE.

4:04 PM - Stay short in the IT sector, says Rahul Mohindar, technical analyst, on CNBC-TV18. Infosys has support at Rs 1,230-1,220, but if it falls below this, it can go to 3-digits too, he adds. It is at Rs 1,238 on the BSE.

3:59 PM - If Reliance Industries falls by another Rs 10 or so, then it may re-test the reent low it made, says Rahul Mohindar, technical analyst, on CNBC-TV18. The stock is at Rs 1,168.95, down 7.9% on the BSE.

3:51 PM - Look at buying HCC at Rs 54-57 for a target price of Rs 65-72, says a stock market expert, on CNBC Awaaz. Keep a stoploss of Rs 49 here, he suggests. The stock is at Rs 57.50, up 1.1% on the BSE.

3:48 PM - JP Associates can probably fall to Rs 60 now, says Anuj Dixit, technical analyst, on CNBC Awaaz.Look at buying /averaging the stock there, he suggests. It is at Rs 84.25, up 4.7% on the BSE.

3:42 PM - Traders can hold on to their short positions, there's an important resistance at 3020 on the Nifty, says Rajat Bose, technical analyst, on CNBC-TV18.

3:37 PM - The market closed off the day's lows, bt still in the negative terrain. Sensex ended the day below 10,000 at 9,746, down 373 points from the previous close (provisional). Nifty shut shop below 2900, at 2894, down 100 points (provisional).

3:28 PM - If the market weakens further, you may see Tata Steel fall to Rs 170-165, where one can look at buying/averaging, says Anuj Dixit, technical analyst, on CNBC Awaaz. On the upside, one can buy/average at once the stock moves above Rs 220, he adds. It is currently trading at Rs 188.80, down over 12% on the BSE.

3:21 PM - If the Nifty closes below 2860, then it can nosedive to 2750-2700, says Rahul Mohindar, technical analyst, on CNBC-TV18.

3:14 PM - Buy Ranbaxy in a staggered way at every dip, says Anuj Dixit, technical analyst, on CNBC Awaaz.The stock can move up in the coming days, he adds. It is currently trading at Rs 217.95, up 4.5% on the BSE.

3:06 PM - The market is obviously disappointed with the slightly higher-than-expected inflation number. Sensex has fallen well below 10,000 again and is currently trading at 9,814, down 305 points from the previous close. Nifty is at 2915, down 79 points.

3:03 PM - Inflation for week ended October 25 has come out at 10.72% versus 10.68% the previous week.

3:00 PM - Look at buying Ranbaxy between Rs 205-215 for a target price of Rs 230-242, says a stock market expert, on CNBC Awaaz. Keep a stoploss of Rs 198, he adds. It is currently trading at Rs 218.95, up 5% on the BSE.

2:54 PM - Tata Chemicals can fall to Rs 145, where one can do some buying, says Anuj Dixit, technical analyst, on CNBC Awaaz. Below this, it can fall to Rs 120, where the balance buying in this stock can be done, he adds. It is currently trading at Rs 166.60, down 6% on the BSE.

2:47 PM - Buy Puravankara Projects for a target price of Rs 91, says Motilal Oswal Securities, reports CNBC-TV18. The stock is currently trading at Rs 55.85, up 3.8% on the BSE.

2:39 PM - The market is on the recovery path, probably on expectations of better inflation numbers to be out at 3 pm today. Sensex is at 10,042, down 77 points from the previous close. Nifty is at 2987, down just 7 points. Realty and FMCG stocks are attracting good buying, while metals, oil & gas and auto stocks continue to lose.

2:36 PM - Buy Somany Ceramics for a target price of Rs 78, says SKP Securities, reports CNBC-TV18. The stock is currently trading at Rs 51.90, up 18.6% on the BSE.

2:29 PM - Look at buying UCO Bank between Rs 26 and Rs 28 for 8-12 month target of Rs 47, says Escorts Securities, reports Zee Business. The stock is currently trading at Rs 30.20, down 1.8% on the BSE.

2:22 PM - Buy Punjab National Bank for 8-12 month target price of Rs 587, says Escorts Securities, reports Zee Business. The stock is currently trading at Rs 487.40, down 0.9% on the BSE.

2:15 PM - Escorts Securities has 8-12 month target of Rs 210 on Aegis Logistics, reports Zee Business. One can buy it at Rs 65-67, says the brokerage. The stock is currently trading at Rs 74.70, down 0.3% on the BSE.

2:07 PM - Sell Reliance Capital for a target of Rs 575-560, says says a market expert, on CNBC Awaaz. Keep a stoploss at Rs 635, he adds. The stock is currently trading at Rs 629.20, down 4.8% on the BSE.

2:00 PM - Sell Sterlite Industries for a target of Rs 215-200, says a market expert, on CNBC Awaaz. Keep a stoploss at Rs 255, he adds. The stock is currently trading at Rs 243.70, down over 9% on the BSE.

1:53 PM - Escorts Securities has 8-12 month target of Rs 145 on Aptech, reports Zee Business. The stock is currently trading at Rs 82.80, down over 3% on the BSE.

1:46 PM - ICICIdirect.com has an 'outperformer' rating on Mercator Lines, with a target price of Rs 63, reports CNBC-TV18. The stock is currently trading at Rs 35.10, down 2.1% on the BSE.

1:37 PM - In power stocks, one can look at buying PTC and Reliance Power now, says Rajesh Tambe of Sunchan Securities, on Zee Business. PTC is at Rs 56.10 and Reliance Power is at Rs 109.30, on the BSE.

1:30 PM - The lows seen in October didn't coincide with long-term supports and the markets will trade lower than those, says Daryl Guppy of guppytraders.com, on CNBC-TV18. The Sensex may retest levels of 7,500-8,500, and if it goes below that, then 6,000 is possible, he says.

1:23 PM - Angel Broking maintains a 'buy' rating on Petronet LNG with a target price of Rs 80, reports Zee Business. The stock is currently trading at Rs 38, down 4.33% on the BSE.

1:15 PM - Sharekhan maintains a 'buy' rating on Andhra Bank with a target price of Rs 90, reports CNBC TV18. The stock is currently trading at Rs 48, down 2.7% on the BSE.

1:07 PM - Sensex is at 9,760, down 359 points from the previous close. Nifty is at 2895, down 99 points. BSE Midcap index is down 2.6% and BSE Smallcap index, down 2.5%. All BSE sectoral indices are trading lower, but BSE Metal and BSE OilGas indexes are seeing major selling pressure.

1:00 PM - Buy Reliance Industries at the current price with a target of Rs 2000 in 18 months, says Rajesh Agarwal of CD Equisearch, on CNBC TV18. The stock is currently trading at Rs 1184, down 6.67% on the BSE.

12:54 PM - Angel Broking maintains a 'buy' rating on Bajaj Auto with a target price of Rs 620, reports Zee Business. The stock is currently trading at Rs 416, down 6.4% on the BSE.

12:49 PM - CLSA maintains a 'buy' rating on BHEL with a target price of Rs 1500, reports CNBC TV18. The stock is currently trading at Rs 1331, down 3.08% on the BSE.

12:46 PM - KLG Systel has bagged an order of Rs 132 crore from Punjab State Electric Board, reports NDTV Profit. The stock is currently trading at Rs 116, up 2.33% on the BSE.

12:44 PM - Relief rally in global markets has stalled and may retest lows, says Darly Guppy, investment expert, on CNBC TV18. Dow has support at 7500 but shows no signs of a sustained rally, he feels. Nifty target is 2500 but the next major support is only at 2200, he says. Tata Steel looks weak and is likely to retest Rs 150 and HDFC Bank has support at Rs 950 and below that at Rs 740, he adds.

12:38 PM - Motilal Oswal Securities maintains a 'buy' rating on DLF with a target price of Rs 480, reports CNBC TV18. The stock is currently trading at Rs 258, down 2.4% on the BSE.

12:31 PM - There could be a decline in IT spending in FY09, says Bhavin Shah of JP Morgan, on CNBC TV18. Both valuations and pricing to be under pressure, he says. But outsourcing budgets are unlikely to be under pressure, he adds.

12:25 PM - Nifty may correct to 2750 and then attempt to reach 3450-3650, says Ashwani Gujral, technical analyst, on CNBC TV18. If Nifty is unable to hold 2800 then it could retest the lows of 2200 which seems a little unlikely, he feels. The trading range on Nifty is now 2200-3600 and this needs to get narrower for the market to stabilise, he adds.

12:19 PM - The earnings visibility is likely to be poor going forward, says Raamdeo Agarwal, MD, Motilal Oswal Securities, on CNBC TV18. Sensex earning for FY09 could be around Rs 900 levels, he says. A 300-400 bps fall in interest rates would kick start the auto/consumer loans, he adds.

12:13 PM - The market sentiment is likely to remain weak for some more time, says Sangeeta Purshottam of Religare Securities, on NDTV Profit. Midcap stocks are taking a hit due to lack of liquidity and the market will see large redemption pressures from FIIs, she feels. The market is also likely to see consolidation across industries while selling in metal pack to continue, she adds.

12:05 PM - The market is still trading weak. Sensex is trading at 9788, down 332 points and Nifty is at 2901, down 93 points from the previous close. CNX Midcap index is down 2.71% and BSE Smallcap index is down 2.03%. The market breadth is negative with advances at 247 against declines of 939 on the NSE.

11:56 AM - Sell Great Eastern Shipping with a target price of Rs 160, says Ashwani Gujral, technical analyst, on CNBC Awaaz. Maintain a stop loss of Rs 225, he adds. The stock is currently trading at Rs 195, down 8.30% on the BSE.

11:46 AM - SBI plans to cut lending rates by 75 bps from Monday (November 10), reports NDTV Profit. SBI does not plan deposit rate cut yet, it adds. The stock is currently trading at Rs 1214, down 4.67% on the BSE.

11:40 AM - Angel Broking maintains a 'buy' rating on Lanco Infra with a target price of Rs 320, reports CNBC Awaaz. The stock is currently trading at Rs 162, down 3.61% on the BSE.

11:31 AM - Hold HDFC Bank with a target price of Rs 1175 after which it could go to Rs 1400, says Ashwani Gujral, technical analyst, on CNBC Awaaz. The stock can be bought around Rs 900 and it is currently trading at Rs 1064, down 3.2% on the BSE.

11:22 AM - Angel Broking maintains a 'buy' rating on OBC with a target price of Rs 194, reports Zee Business. The stock is currently trading at Rs 141, up 1.04% on the BSE.

11:15 AM - Sell Jet Airways in any rally as it has a possible 15% downside, says Rahul Mohindar, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 186, down 4.29% on the BSE.

11:07 AM - IDBI Capital maintains a 'buy' rating on SBI with a target price of Rs 1669, reports CNBC Awaaz. The stock is currently trading at Rs 1228, down 3.59% on the BSE.

11:01 AM - The market continues to trade weak. Sensex is trading at 9846, down 273 points and Nifty is at 2919, down 75 points from the previous close. CNX Midcap index is down 2.3% and BSE Smallcap index is down 2%. BSE Metal index is down 5% and BSE Auto index down 3%. The market breadth is negative with advances at 205 against declines of 907 on the NSE.

10:53 AM - Buy Bharati Airtel for the long term around Rs 650 for good returns, says Rahul Mohindar, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 658, down 3.77% on the BSE.

10:43 AM - Buy Reliance Industries for the long term but with a strict stop loss of Rs 1145, says Anil Maghnani, technical analyst, on Zee Business. The stock is a fundamentally good stock but if it goes below 1150 it could retest Rs 930, he adds. The stock is currently trading at Rs 1219, down 3.97% on the BSE.

10:35 AM - Sharekhan maintains a 'buy' rating on Ipca Labs with a target price of Rs 875, reports Zee Business. The stock is currently trading at Rs 402, up 0.50% on the BSE.

10:32 AM - Alkali Metals lists at Rs 110 versus issue price of Rs 103, reports NDTV Profit. The stock is currently trading at Rs 156, up 53.25% on the BSE.

10:27 AM - Sell JSW Steel with a target price of Rs 240, says Ashwani Gujral, technical analyst, on CNBC Awaaz. Maintain a stop loss of Rs 360, he adds. The stock is currently trading at Rs 311, down 7.82% on the BSE.

10:19 AM - Sharekhan maintains a 'buy' rating on PNB with a target price of Rs 587 in 12-16 months, reports Zee Business. The stock is currently trading at Rs 481, down 2.2% on the BSE.

10:11 AM - Buy Reliance Industries for the long term as it is likely to be a global outperformer (in the petrochemical space) in the next 6-8 months, says Rajesh Jain of Pranav Securities, on NDTV Profit. The stock is currently trading at Rs 1210, down 4.66% on the BSE.

10:03 AM - The Asian markets are trading in the negative. Weak global cues sees the Indian market post a gap down opening. Sensex is trading at 9772, down 347 points and Nifty is at 2900, down 94 points from the previous close. CNX Midcap index is down 3.02% and BSE Smallcap index is down 1.24%. The market breadth is negative with advances at 57 against declines of 494 on the NSE.

9:57 AM - The market is likely to be choppy going ahead, says Sudarshan Sukhani, technical analyst, on CNBC Awaaz. This is a trading market where one should buy on dips and sell on resistance, he adds.

9:48 AM - SBI is a good stock to accumulate now with a 25% upside target in the next 8 months, says Rahul Mohindar, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 1272, down 3.7% on the BSE.

9:39 AM - Nifty now has support at 2825 and it is forming a base around 2650, says Salil Sharma of Kapoor & Sharma Company, on NDTV Profit. Nifty is likely to consolidate in the range of 2650-2990 and once the market stabilizes it can move up, he feels. But Nifty is unlikely to test the lows of 2270, he adds.


ninad avasare
Doubling Stocks