Free Stock Market Tips For Intraday Nifty Sure Shot Trading Tips

On Tuesday, the Indian benchmark indices trading lower owing to to profit-booking by funds and retail investors in FMCG, auto, bank and metal sector Free Stock Market Tips amid a weak trend in the Asian markets. On domestic front, state-run oil marketing companies could hike petrol prices by up to Rs 3 per litre and the hike could be announced on 15 May 2011 during the fortnightly review of prices.

Reserve Bank of India has relaxed the provisioning norms for banks with retrospective effect from September 30, 2010, which in turn could help banks post higher profits. Also, the broader market indices are trading positive as BSE Mid Cap was trading down by 0.7% and BSE Small Cap was lower 0.6% respectively. The key benchmark indices are trading at BSE 30-share Sensex above 19,330 mark, while Nifty is above the 5,805 mark.

At 12:20PM BSE SENSEX was at 19336.49 down by -247.82 points or by -1.27 % and then NSE Nifty was at 5805.75 down by -68.75 points or by -1.17 %.

The BSE MIDCAP was at 7193.34 down by -48.24 points or by -0.67 %. while the BSE SMLCAP was at 8842.88 down by -57.02 points or by -0.64 %.

The BSE Sensex touched Stock Tips Intraday high of 19600.79 and intraday low of 19306.92 The NSE Nifty touched intraday high of 5878.25 and intraday low of 5792.05

On the economic front, an Indian delegation, led by commerce secretary Rahul Khullar, is likely to initiate a new phase of bilateral discussion with Pakistan government tomorrow, over the trade of petroleum products. Though Indian has maintained its position as “most favoured nation” status from Pakistan for more than five years, petroleum products were never in the imports list.

 The opening of the trade routes for petroleum products also opens new markets for Indian petroleum exporters like Reliance Industries Ltd (RIL) and Essar Oil. Indian Oil Corporation’s Panipat refinery and HPCL-LN Mittal group’s upcoming Bhatinda refineries will be at an advantage due to its geographical closeness.

Pakistan has a refining capacity about 12 million tonnes, which could meet only half of the annual requirements of the country. Indian export of refining products has expanded from 746,000 tonne in FY00 to 51 million tonne in FY10.

On the corporate front, KPIT Cummins fourth quarter consolidated net sales were up at Rs 308 crore versus Rs 273.7 crore, QoQ. The company's consolidated net profit was up at Rs 26.3 crore versus Rs 20.8 crore.

India's foremost cement manufacturer ACC is set to report 24% fall in January-March quarter profit after tax of Rs 299 crore as against Rs 392 crore in same quarter the previous year.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2,732, shares advanced were 934 while 1691 shares declined and 107 were unchanged.

The top losers of the BSE Sensex pack were Hindustan Unilever Ltd. (Rs. 280.10,-3.05%), Housing Development Finance Corporation Ltd. (Rs. 711.35,-2.72%), Mahindra & Mahindra Ltd. (Rs. 749.50,-2.36%), Jaiprakash Associates Ltd. (Rs. 98.40,-2.28%), Wipro Ltd. (Rs. 455.20,-2.25%), among others.

In BSE, BSE_FMCG index was at 3661.8 down by -74.22 points or by -1.99%. Hindustan Unilever Ltd. (Rs. 280.10,-3.05%), ITC Ltd. (Rs. 186.15,-2.10%), Dabur India Ltd. (Rs. 101.25,-1.60%), Nestle India Ltd. (Rs. 3850.00,-1.48%), United Spirits Ltd. (Rs. 1006.50,-1.47%),.

In BSE, BSE_CGS index was at 13504.1 down by -203.7 points or by -1.49%. BGR Energy Systems Ltd. (Rs. 559.00,-2.94%), Larsen & Toubro Ltd. (Rs. 1683.05,-2.23%), Punj Lloyd Ltd. (Rs. 71.05,-1.73%), Praj Industries Ltd. (Rs. 79.30,-1.43%), Bharat Heavy Electricals Ltd. (Rs. 2048.00,-1.29%),

The leading Asian bourses are trading negative as Hang Seng, Seoul Composite, Shanghai Composite and Nikkei 225 are trading below by 1.02%, 0.44%, 0.86% and 1.17% respectively.