Thursday, March 3, 2011

Free Trading Tips Of Share Market

European markets, which opened after the Indian market were trading on a positive note. Key benchmark indices like – CAC 40 was trading higher by 0.62% at 4,135.97, FTSE 100 advanced by 0.39% at 6,017.28 and in Frankfurt, DAX index was trading up by 0.83% at 7,332.84.

The BSE Auto index was at 8,718.22 up by 465.30 points or by 5.64%. The main gainers were Ashok Leyland (11.46%), Bharat Forge (8.74%), Mahindra & Mahindra (8.36%), Maruti Suzuki (7.14%) and Apollo Tyres (7.09%).

The BSE Bankex index was at 12,355.22 up by 514.88 points or by 4.35%. The major gainers were IndusInd Bank (6.26%), YES Bank (6.01%), ICICI Bank (5.66%), Bank of India (5.59%) and Axis Bank (5.25%).

On the corporate front, share market of Ranbaxy Laboratories Ltd rose 4.30% to Rs 452.50 after the company has bagged received final approval from the United States Food and Drug Administration to market Onadansetron tablets.

The FIIs on Tuesday stood as net seller in both equity and in debt. Gross equity purchased stood at Rs 3,743.3 Crore and gross debt purchased stood at Rs 533.1 Crore, while the gross equity sold stood at Rs 3,812.5 Crore and gross debt sold stood at Rs 2,229.7 Crore. Therefore, the net investment of equity and debt reported were Rs (69.3) Crore and Rs (1,696.6) Crore respectively.

In the major indices, the Dow Jones Industrial Average (DJIA) closed with a gain of 8.78 points or 0.07% at 12,206.8, while NASDAQ index finished higher by 10.66 points or 0.39% to 2,748.07. The S&P 500 (SPX) closed up by 2.11 points or 0.16% to 1,308.44.

On Wednesday, the U.S. markets closed with narrow to modest gains after spending the session under the beguile of oil, which pushed to a new two-year closing high amid geopolitical concerns related to the Middle East and North Africa. Initially, gradual buying assisted stocks move higher, but the tone deteriorated as oil attracted some of the interest. 

Further, participants overlooked bullish inventory data, but following the reports that Libyan fighter jets fired on the oil terminal city of Masra El Brega, oil prices in the continuous contract moved as high as $102.37 per barrel.

Further, as Oil managed to hold its gain into the close and even afterward in electronic trade undermined strength in the stock market, which had traded to afternoon highs only an hour before the close. Stocks moved southward during the last leg of trade for a rather underwhelming finish. 

Corporate news had little impact on overall market, but a stronger-than-expected ADP Employment Change gained attention. The report stated that private payrolls increased in February by 217,000, above the expected 163,000. Crude oil contracts for April closed higher by 2.6% to $102.23 per barrel while April natural gas prices finished 1% lower to $3.81 per MMBtu.

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