Market Close: Optimism across fuels the rally..

The macro conditions suddenly look benign with Asian markets near all time highs, tensions in Middle east easing and CRR hikes over, there seem to be less bad news. Markets started off on a strong note after the Easter Holiday and the positives continued. There was buying across board except the Sugar stocks. Mid caps and Small caps alos support the strong rally. Asian Markets ended in strong where as European Markets were out of action on account of Easter.

Sensex closed up 303 points at 13159 helped up by gains in TISCO (487.75,+5 percent), Maruti (787,+4 percent), SBI (985.75,+4 percent), ITC (153.5,+4 percent) and RCVL (411.9,+4 percent). Restricting the gains were Dr Reddys (728.5,0 percent) marginally down.

Prime Focus was one big hit today. This post production company involved in Digitisation and the Processing of the normal Celluloid films which are used for shooting and adfilm making. The scope for the business is good with increasing need for digital services. One emerging market is the renovation and restoration of the the old prints on celluloid. The demand from the clients have started increasing as the awareness has increased. However, competition is also increasing with more people setting up such facilities to tap into this market. Prime Focus being among the early entrants certainly enjoys benefits. We have a note here.. check it out.

Educomp was rocking for the day as it sugred to lock in upper circuit. Educomp is into education using IT animation for schools. The company has developed animations to explain in a pictoral form the basic teaching. It specializes in research into new modes of learning and developing applications and products that leverage information technology and the Internet to make the school education system more effective. It has the presence in over 800 schools in more than 30 cities across the country. Education is a strong growth area and this is a strong play. There is good thrust by the govt on education and has allocated huge amount in the Budget..This company has a bright future in coming years to come.. we are positive on Educomps outlook and also have note here...

As per a leading business daily, Ranbaxy plans to acquire a 15% stake in Jupiter Bioscience, a maker of specialised organic compounds as part of its strategy to expand its product portfolio through partnerships and strategic investments. Jupiter Bioscience will allot preferential equity share warrants to Ranbaxy. The proposed warrant allotment is a part of the term sheet signed between the companies earlier, which includes forging a strategic business tie up on peptide pharmaceuticals for the global market. Jupiter Bioscience makes specialised organic compounds like peptides and has a wholly owned US subsidiary Jupiter Bioscience Inc to cater to markets of peptides and peptide components in the US, Europe, Canada and Japan. This is likely to be a positive for Ranbaxy and will enable it to gain a foothold in the niche biotech segment going forward. Ranbaxy ended up by 1.3%, and its peer Divis Laboratories ended up by 6%, Biocon and Wockhardt both ended up by 4%.

The power major NTPC is planning to set up 6,000 MW of nuclear generation capacity over the next few years. The company is expected to have 2,000 MW of nuclear power generation by the middle of the 12th Plan (2012-17) and would simultaneously start work on two power plants of 2,000 MW each. NTPC has been in talks with international players such as GE Energy for setting up the new nuclear facilities. NTPC is looking at four states, including Tamil Nadu, Madhya Pradesh and Maharashtra, for setting up these nuclear plants. India currently has a nuclear capacity of about 3,300 MW, less than 2% of the total installed capacity of 128,000 MW, and plans to ramp it to 20,000 MW by 2020. Good opportunity for NTPC to increase its market share. The power stocks closed on a firm note. NTPC closed marginally up and its peer Tata Power and REL closed up by 1% and 2%.

Technically Speaking: It was a Bull session for the whole day before closing. Sensex touched intraday high of 13194 and low of 12904. Sensex has closed above its resistance at 13170. On the higher side it is looking to hit near 13400 whereas on the lower side major support likes at 12900. Resistance lies at 13289, 13386. Support lies at 13000, 12808. Market turnover stood at Rs 3075 cr. Overall breadth was in favor of Advances