Indian stock markets: mutual funds, Sensex, Nifty

Running commentary of the markets will resume when they open on Monday, 6 July

Last trading day: Friday, 3 July

4:34 PM - After a very volatile, news driven week the market closed on a fairly positive note. But more choppiness is expected in the first hour of trade on Monday before the announcement of the general budget. This week's performance was average and the numbers are: Sensex and Nifty were both up 1%. BSE Midcap index and BSE Smallcap index were both up 0.5%. BSE Metal index up 3.7%, BSE Oil & Gas index up 2.3% and BSE Bankex index up 2.5%. » Send to friends

4:25 PM - It was a good end to a week of choppiness on the back of budget expectations. There was strong short covering towards the latter part of the day. But healthcare and banking stocks helped the market close high. Sensex shut shop at 14913, up 254 points and Nifty at 4424, up 75 points from the previous close. CNX Midcap index was up 0.8% and BSE Smallcap index was up 0.4%. The market breadth was positive with advances at 628 against declines of 595 on the NSE. Top Nifty gainers included HDFC, Cipla and Tata Steel while losers included Cairn, Hindalco and Hero Honda. » Send to friends

4:22 PM - Buy BEML with a target of Rs 1520 in 12-18 months, says Vijay Bhambwani, technical analyst, on CNBC TV18. The stock is currently trading at Rs 1033, down 4.51% on the BSE. » Send to friends

4:14 PM - Hold Hindustan Zinc with target of Rs 800 in 9 months, says P Phani Shekhar of Angel Broking, on CNBC Awaaz. Buy more on dips, he adds. » Send to friends

4:04 PM - In the infrastructure space, buy HCC, IVRCL Infra, Lanco Infrastructure and Nagarjuna Constructions for long-term gains, says Tejas Nadu, market expert, on NDTV Profit. » Send to friends

3:57 PM - The US won't enter recovery phase anytime soon, says Kirby Daley of Newedge Group on CNBC TV18. He believes that the US jobs data is so horrible one can't see a positive spin adding that the data indicates that there could be more bad news yet to come. He recommends buying physical gold as an 'Armageddon' hedge. » Send to friends

3:50 PM - In the infrastructure space, buy Patel Engineering and IRB Infra, says Gaurang Shah of Geojit BNP Paribas on CNBC Awaaz. Both the stocks are showing good build-up, he adds. » Send to friends

3:43 PM - The new railway budget will provide good benefits for those companies which cater to this industry, says DD Sharma of Anand Rathi Securities on CNBC Awaaz. » Send to friends

3:37 PM - Hold Nagarjuna Fertilisers with stop loss of Rs 39.50, says Salil Sharma, technical analyst, on CNBC Awaaz. The stock is at Rs 42.55, up 5.2% on the BSE. » Send to friends

3:31 PM - The market closed on a positive note despite there being much choppiness in the day on the back of the railway budget today and weak global cues. Sensex closed at 14915, up 257 points (provisional) and Nifty at 4422, up 73 points (provisional) from the previous close. CNX Midcap index was up 0.7% and BSE Smallcap index was up 0.6%. The market breadth was positive with advances at 645 against declines of 583 on the NSE. » Send to friends

3:27 PM - Hold Power Grid for more than 18 months for excellent returns, says Gaurang Shah of Geojit BNP Paribas on Zee Business. Buy more on dips, he adds. The stock is currently trading at Rs 113.10, up 3.1% on the BSE. » Send to friends

3:23 PM - Hold ACC with target of Rs 850-860, says Rahul Mohinder, technical analyst, on CNBC TV18. The stock is currently trading at Rs 766.05, up 0.6% on the BSE. » Send to friends

3:16 PM - Hold India Cements with target of Rs 155-160, says Rahul Mohinder, technical analyst, on CNBC TV18. It has support at Rs 125-130, he adds. The stock is currently trading at Rs 137.25, up 2.1% on the BSE. » Send to friends

3:09 PM - Hold GVK Power with target of Rs 56, says Ashu Bagri of SBICAP Securities on NDTV Profit. Keep stop loss of Rs 37, he adds. The stock is currently trading at Rs 43.35, up 4% on the BSE. » Send to friends

3:02 PM - A few minutes before close, the market is looking very cheerful with both the major indices showing good gains. Europe is trading flat. Sensex is trading at 14908, up 247 points from its previous close, and Nifty is at 4421, up 72 points. CNX Midcap index is up 0.8% and BSE Smallcap index is up 0.6%. The market breadth is positive with advances at 665 against declines of 546 on the NSE. » Send to friends

2:59 PM - Buy Tech Mahindra with target of Rs 800 and above, says Sudarshan Sukahni, technical analyst, on CNBC TV18. The stock is currently trading at Rs 760, down 1.4% on the BSE. » Send to friends

2:51 PM - RNRL has filed special leave petition in the Supreme Court seeking judicial direction to RIL to honour gas supply obligations, reports NDTV Profit. » Send to friends

2:44 PM - Buy Bartronics with target of Rs 215, says Prasad Kushe, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 170, he adds. The stock is currently trading at Rs 179, up 0.7% on the BSE. » Send to friends

2:37 PM - Buy Nagarjuna Fertilisers with target of Rs 46-48 in one month, says Rahul Mohinder, technical analyst, on CNBC TV18. Keep stop loss of Rs 38, he adds. The stock is currently trading at Rs 41.65, up 3% on the BSE. » Send to friends

2:29 PM - Buy Sesa Goa with target of Rs 220-240 after which it can go to Rs 285, says Prasad Kushe, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 175, he adds. The stock is currently trading at Rs 187.60, down 1.2% on the BSE. » Send to friends

2:21 PM - Hold GAIL with target of Rs 368, says Ashu Bagri of SBICAP Securities on NDTV Profit. Keep stop loss of Rs 284, he adds. The stock is currently trading at Rs 312.70, up 0.7% on the BSE. » Send to friends

2:12 PM - Hold Hindustan Zinc with target of Rs 685, says Salil Sharma, technical analyst, on CNBC Awaaz. Or hold for six months with stop loss of Rs 550, he adds. The stock is currently trading at Rs 608.50, up 0.03% on the BSE. » Send to friends

2:05 PM - The market continues to rally, apparently unmoved by the railway budget. Sensex is trading at 14730, up 71 points from its previous close, and Nifty is at 4369, up 20 points. CNX Midcap index is up 0.1% and BSE Smallcap index is down 0.2%. The market breadth is negative with advances at 509 against declines of 694 on the NSE. » Send to friends

1:56 PM - Hold ITI which has resistance at Rs 46 crossing which it can then show a good uptrend, says Mitesh Thacker, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 41.45, up 5% on the BSE. » Send to friends

1:49 PM - This budget has provided an innovative way of functioning by including private investors, says Indian Prime Minister Manmohan Singh in his comments on the railway budget, reports CNBC Awaaz. It is a competent job done in quite a short time, he adds. » Send to friends

1:41 PM - Hold ONGC which looks good on the charts, says Sudarshan Sukhani, technical analyst, on CNBC TV18. It will outperform even in the declining market, he adds. The stock is currently trading at Rs 1125.90, down 0.1% on the BSE. » Send to friends

1:33 PM - Buy Educomp Solutions only on dips at Rs 3400-3500, says Rajesh Jain of SMC Global Securities on Zee Business. The stock is currently trading at Rs 4208, down 2% on the BSE. » Send to friends

1:25 PM - There will be no change in freight tariff and passenger fares, says Mamata Banerjee at the conclusion of her budget presentation in Parliament, reports CNBC TV18. Minimum Tatkal fares have been reduced from Rs 150 to Rs 100, it adds. » Send to friends

1:19 PM - Hold Prism Cement with target of Rs 46, says Ashu Bagri of SBICAP Securities on NDTV Profit. Keep stop loss of Rs 35, he adds. The stock is currently trading at Rs 39, down 1% on the BSE. » Send to friends

1:12 PM - The railway ministry has plans to introduce non-stop train services in many sectors, says Mamata Bannerjee, reports CNBC TV18. Of these 12 non-stop services will be introduced immediately, it adds. Allocation for new lines has been raised to Rs 2920 crores, it adds, while passenger amenities expenditure is hiked to Rs 1102 crores. » Send to friends

1:04 PM - The market at this hour continues to trade in the green, even as the Indian Railway Minister announces the budget dotted with populist measures. Sensex is trading at 14721, up 65 points from its previous close, and Nifty is at 4366, up 17 points. CNX Midcap index is down 0.02% and BSE Smallcap index is down 0.1%. The market breadth is negative with advances at 539 against declines of 635 on the NSE. » Send to friends

12:56 PM - The railway ministry will use rail land bank for industrial purpose and will set up 1000 MW power plant with NTPC, says Mamata Banerjee in Parliament, reports CNBC TV18. It will also set up a new coach factory with capacity to produce 500 coaches per year, it adds. Additionally, the railway ministry has announced the introduction of a new scheme termed Izzat which will provide Rs 25 monthly season ticket to all those with income below Rs 1500 per month, reports the channel. » Send to friends

12:49 PM - The hopes of a pro-growth budget are very high, says Tim Condon of ING Financial Markets on CNBC TV18. He expects India's decoupling trade to revive and more capital inflows after the budget. India is likely to get re-rated due to its higher growth prospects, he adds. » Send to friends

12:42 PM - The railway ministry has drawn up plans for security at 140 stations, says Mamata Banerjee, reports CNBC TV18. This news should benefit Integra Hindustan and Kernex Micro, says the news channel. The ministry plans to acquire 18000 wagons in FY10 and this news should benefit BEML, Titagarh Wagons and Texmaco, it adds. » Send to friends

12:36 PM - The railway ministry will facilitate ticket sales from 5000 post offices, says Mamata Banerjee, reports CNBC TV18. It will introduce 50 mobile rail ticket vans and inter-city double decker AC coaches, it adds. The ministry also plans to give automated ticket vending services at 200 stations, reports CNBC TV18. » Send to friends

12:28 PM - The railway ministry will develop 50 stations with international facilities, says Mamamta Banerjee in the Parliament, reports CNBC TV18. Multi-functional complexes will be set up in the station premises to facilitate passengers, it adds. Station development plans are positive news for BEML, Kalindee Rail and Texmaco, says the news channel. » Send to friends

12:21 PM - Economic viability of projects is not the key concern, says Mamata Banerjee, Indian Railways Minister, in the Parliament while presenting the railway budget, reports CNBC TV18. She says focus of her budget would be on cleanliness, good basic amenities, safety and the need to expand rail network for development, it adds. » Send to friends

12:17 PM - Hold Tata Steel with targets of Rs 450 and then 530, says Prakash Gaba, technical analyst, on CNBC Awaaz. It is in an uptrend now, he adds. The stock is currently trading at Rs 420, down 0.04% on the BSE. » Send to friends

12:10 PM - Buy Reliance Industries on dips, says Gaurang Shah of Geojit BNP Paribas on Zee Business. Hold for long term with target of Rs 2450-2500, he adds. The stock is currently trading at Rs 2012.05, up 0.1% on the BSE. » Send to friends

12:03 PM - The market at noon continues to trade steady, as the railway budget is in the process of being announced in Parliament. Sensex is trading at 14721, up 62 points from its previous close, and Nifty is at 4366, up 18 points. CNX Midcap index is up 0.4% and BSE Smallcap index is up 0.4%. The market breadth is marginally positive with advances at 583 against declines of 580 on the NSE. » Send to friends

11:57 AM - Book profits in Kalindee Rail at Rs 235, says Salil Sharma, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 227.70, up 1.9% on the BSE. » Send to friends

11:51 AM - The key point to watch out in the budget would be how the government balances growth and fiscal prudence, says Alroy Lobo of Kotak AMC on CNBC TV18. He believes that the fiscal deficit remains the focal point as any mismanagement may lead to a rating downgrade. The market will watch out for the intent and direction of the budget, he adds. » Send to friends

11:46 AM - Hold Titagarh Wagons with trailing stop loss of Rs 400, says Rajesh Jain of SMC Global Securities on Zee Business. The stock is currently trading at Rs 446.50, up 1.6% on the BSE. » Send to friends

11:39 AM - Hold TCS with target of Rs 455 in six months, says Salil Sharma, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 340, he adds. The stock is currently trading at Rs 389, down 0.3% on the BSE. » Send to friends

11:32 AM - Hold Reliance Industries which is trading in a range now, says Mitesh Thacker, technical analyst, on CNBC Awaaz. It has support at Rs 1950-1960 and resistance at Rs 2120, he adds. The stock is currently trading at Rs 2012.40, up 0.1% on the BSE. » Send to friends

11:25 AM - There is uncertainty in the market ahead of the rail and general budget, says Gaurang Shah of Geojit BNP Paribas on Zee Business. He advises those invested for medium term and who cannot bear the volatility to book profits. » Send to friends

11:18 AM - Hold Jyoti Structures with target of Rs 170, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss below Rs 125 on day-end closing basis, she adds. The stock is currently trading at Rs 147.10, up 5.1% on the BSE. » Send to friends

11:11 AM - Buy IRB Infra on dips with target of Rs 200, says Ashu Madan of Religare on CNBC Awaaz. The stock is currently trading at Rs 180, up 3.7% on the BSE. » Send to friends

11:04 AM - An hour into opening, the market is trading firm. Rail stocks are rallying ahead of the railway budget to be announced at noon. Sensex is trading at 14688, up 29 points from its previous close, and Nifty is at 4357, up 8 points. CNX Midcap index is up 0.2% and BSE Smallcap index is up 0.2%. The market breadth is negative with advances at 537 against declines of 561 on the NSE. » Send to friends

10:58 AM - Buy Chambal Fertilisers on dips with short-term target of Rs 85, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 55, she adds. The stock is currently trading at Rs 66.20, up 0.9% on the BSE. » Send to friends

10:51 AM - Buy NIIT Ltd and Aptech for good returns, says Mitesh Thacker, technical analyst, on CNBC Awaaz. These stocks are in a good uptrend now, he adds. » Send to friends

10:44 AM - Buy ONGC with target of Rs 1225-1230, says Devangshu Dutta, market expert, on CNBC TV18. Keep stop loss of Rs 1100, he adds. The stock is currently trading at Rs 1105.85, down 1.8% on the BSE. » Send to friends

10:37 AM - Buy Nagarjuna Fertilisers on dips with short-term target of Rs 55, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 34, she adds. The stock is currently trading at Rs 40.80, up 0.9% on the BSE. » Send to friends

10:30 AM - Sell Pantaloon Retail with intra-day target of Rs 295, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 310, he adds. The stock is currently trading at Rs 306.95, down 0.4% on the BSE. » Send to friends

10:23 AM - Book profits in rail stocks, says Ashu Madan of Religare on CNBC Awaaz. He advises reviewing these stocks post-budget and then only re-entering them. » Send to friends

10:16 AM - Sell Tata Steel with intra-day target of Rs 400, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 423, he adds. The stock is currently trading at Rs 415.45, down 1.1% on the BSE. » Send to friends

10:09 AM - Buy Lanco Infra with intra-day target of Rs 368, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 357, he adds. The stock is currently trading at Rs 364.50, up 1.8% on the BSE. » Send to friends

10:02 AM - Sell BHEL at Rs 2153 with target of Rs 2117, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 2170, she adds. The stock is currently trading at Rs 2157.30, up 0.3% on the BSE. » Send to friends

9:55 AM - The market opens on a stable note, on the last trading day ahead of the general budget. Today, by noon the railway budget is expected to be announced. Earlier, US markets sold off on poor job numbers and Asia is trading mixed. Sensex is trading at 14612, down 46 points from its previous close, and Nifty is at 4331, down 17 points. CNX Midcap index is up 0.4% and BSE Smallcap index is down 0.1%. The market breadth is negative with advances at 133 against declines of 374 on the NSE. » Send to friends

9:51 AM - Buy Reliance Power with intra-day target of Rs 180, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 172, he adds. The stock is at Rs 172.80, up 0.8% on the BSE. » Send to friends

9:46 AM - The market may not open very weak today, says Ashu Madan of Religare on CNBC Awaaz. He believes that the market will take direction from the announcement of the railway budget. » Send to friends

9:40 AM - Buy L&T at Rs 1567 with target of Rs 1600, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 1545, she adds. The stock is at Rs 1563.60, down 0.7% on the BSE. » Send to friends

9:35 AM - Go long on railway stocks ahead of the rail budget, says Sheshadri Bhartan, market expert, on CNBC Awaaz. Keep strict stop loss, he adds. But those making profits should book them, he advises. » Send to friends

9:31 AM - The Nifty will trade range bound and 4270-4240 will provide major support, says Simi Bhaumik, technical analyst, on Zee Business. Go long on the Nifty at this level, she adds. She advises using any rally to go short with stop loss of 4240. If the market goes up buy Put and if it comes down buy Call, she says. » Send to friends