Surprise Rise In The Markets:Sensex Up By 703 Points,Intra Day Calls For Jul 3

03 Jul

Posted by Shyam as IntraDay Calls

The surprise rise of 703 points in sensex yesterday took many investors by surprise. Due to range bound Asian markets the stock markets were looking flat in the first half,then the news of share buy back from country’s largest realty player came in. And the European markets were also looking good initially,so this led to a good recovery in the markets in the second half. And sensex shut shop at 13,665 up by 703 points or 5.42% over its previous close. Similarly the nifty was up by 197 points to close at 4093 levels ,up by over 4.80%.

All the realty stocks which were heavily beaten till now recovered to some extent.DLF gained 15% at close,Ansal properties gained 28%,Akruti city gained 20%,HDIl was up by 19.%. The calls made here also gave some very good returns,the best being India infoline which gained almost 22% intra day.Other calls like NTPC was up by 4%,Titan was up by 4.3% and many other gained.

But due to crude oil price surge above 144$/barrel, the US markets were trading weak with Dow and Nasdaq losing 1.4% and 2.3% respectively. A gap down opening is also seen in the Asian markets currently. So we too can see a two side movement in the Indian markets today. If the realty sector does well owing to the share buy back issue,then we can expect another small rally in the markets today.

Lets have a look at some of the calls for today: DLF(cmp 424),NTPC(cmp 159),RPL(cmp 174),HDIL(cmp 402),Unitech(cmp 171),satyam(cmp 463),Praj(cmp 170),Punj Lloyd(cmp 217),Rcom(cmp 418),India Bulls Real estate(cmp 286), IVR prime(cmp 190),BOI(cmp 223).