Market Commentary:
* Asian stocks rose, erasing yesterday’s losses, after French borrowing costs fell and the slowest Chinese growth in 10 quarters added to speculation about monetary-policy easing in the world’s No. 2 economy. The MSCI Asia Pacific Index gained 1.3%.
* Backhome,benchmark indices gained further to scale fresh intraday high in morning trade as pivotals extended initial upmove. The better than expected numbers of IT major HCL Technology has also boosted the morale of the investors. The Nifty jumped to over one month high led by across the board buying, tracking positive Asian cues.
* The broader markets too followed the same trend, rising over 1%. The market breadth, indicating the overall health of the market, was strong.
* The rupee strengthened on pent-up demand from companies after the US market holiday, positive local shares and a firmer euro. The rupee was at 51.07/08 to the dollar, up from previous close of 51.36/37.
* Nifty on intra-day basis has broken the important resistance level of 4950. If it manages to close above that we can see this uptrend to go much higher than anything has expected.
* INDICES: Sensex +249 at 16438 (1.54%), NIFTY +80 at 4954 (1.65%), CNXMIDCAP +99 at 6746 (1.48%)
* SECTORAL PERFORMANCE: BANKEX 1.36%, AUTO 2.32%, CAPITAL GOODS 2.65%, HEALTHCARE 1%, Metal 3.22%, OIL & GAS 1.94%, IT 1.22%, FMCG 0.67%, PSU 1.6%, REALTY 4.35%, Consumer Durables 0.79%, POWER 1.84%
* MARKET BREADTH: 431 Advances, 61 Declines (BSE 500)
* TODAY'S GAINERS: MSIL 7.03%, HCLT 5.92%, HNDL 5.32%, JPA 4.74%, STLT 4.7%
* TODAY'S LOSERS: RBXY -0.9%, DRRD -0.18%, TCS -0.05%, ITC -0.05%, PWGR 0.2%
No comments:
Post a Comment