The stock markets are punishing those companies which are coming out with poor results and it is the IT sector which is disappointing with numbers. Today Hexaware and Polaris came out with numbers and clearly the appreciating rupee and soaring salaries have eaten their profits.
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DLF was listed at Rs. 582 in the morning as against its issue price of Rs. 525 and then it came down and is currently trading around Rs. 542. The stock has made a high of Rs.583.95 and a low of Rs.526.60 till 11.45 a.m. The poor listing impact has been felt across the board in the real estate sector and most of the real estate players have corrected significantly. Unitech is down more than 5 percent at Rs. 523, Parsvnath is down about 6 percent at Rs. 354, Mahindra Gesco is down about 3.5 percent at Rs. 554 and Indiabulls Real Estate is down about 5 percent at Rs. 428.
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Well that is a question behind every one’s mind now when we are at striking distance from the crucial level. Recently most of the global markets have made their all time highs and are continuously making new highs.
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The Sensex has made an all time high and is currently is at 14725 at 10.15 a.m.
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The markets have been direction less in the last few days and there were abrupt moves both sides. We are discussing the performance of some stocks which were recommended on this site (under daily tips) during last ten days.
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The weekly inflation numbers are out and the inflation has come down to 4.28 percent for the week ended on 9th June 2007 as against 4.80 percent for the previous week. This has been better than the market expectations of 4.43 percent.
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The markets have turned around and NIFTY has crossed 4200 level on account of heavy buying in last one hour in NIFTY futures, bringing the NIFTY discount to almost zero. Some short covering is also seen and if the NIFTY closes above 4220 levels today we might resume the uptrend once again to make new highs. The markets opened flat in the morning and then drifted down in the red for some time and then after 2 p.m. again started rallying to cross 4200 levels. The advance decline ratio has also turned positive with 640 advancing stocks to 458 declining.
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Vishal Retail saw more interest among investors as compared to DLF as the issue is oversubscribed 81 times. The issue closed yesterday and the final figures of oversubscription were as under.
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We are giving hereunder a list of some multi baggers recommended on our site last year. Only those stocks are listed here which have more than doubled and other stocks which have given less than 100 percent returns are not included here.
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After opening gap up in the morning NIFTY touched 4200 levels but could not hold on to that and remained around 4180 for a long time of the day and then in the last half hour from 2.30 p.m. onwards it started slipping and now has lost almost all its morning gains. Currently at 3.05 p.m NIFTY is 4145 and Sensex is at 14078. The advance decline ratio has also turned negative with 450 advancing stocks to 629 declining. The major pullers of NIFTY are Gail which is up 8.2 percent at 317, HP up 4.65 percent at Rs.273 and BP up 2.67 percent at Rs. 340. Zee is the major dragger of NIFTY, down almost 3 percent at Rs.276.5. The midcap index has turned negative and currently is down about 0.5 percent.
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