Market Commentary:
Ø Asian stocks rose, with the benchmark index poised to enter a bull market, as better-than- forecast industrial production data in Japan and South Korea boosted growth prospects. The euro climbed before the European Central Bank provides funds to support banks.
Ø Buoyed by global optimism, Indian markets have continued their northward journey for second straight session after a four day of correction. The Nifty retained its early trade gains, scaling up itself above the 5450 level led by across the board buying before the release of GDP numbers. Lower than expected GDP at 6.1% pulled market down and very close to 5400 level.
Ø Among largecaps, ONGC topped the buying list, rising 4.6%. All sectoral indices were in the green. The broader indices were outperforming benchmarks.
Ø The Indian rupee surged to its highest in three weeks as capital inflows picked up ahead of a large share sale in state-run ONGC. Rupee was at 48.97/98, 0.2 percent firmer than last close of 49.0750/0850
Ø For Nifty Mar Futs, Intra-day resistance can be seen at 5490-5500 level while on the downside it can slip upto 5420 level.
* INDICES: Sensex +205 at 17937 (1.16%), NIFTY +60 at 5435 (1.11%), CNXMIDCAP +105 at 7716 (1.38%)
* SECTORAL PERFORMANCE: BANKEX 0.53%, AUTO 0.94%, CAPITAL GOODS 0.55%, HEALTHCARE 0.84%, Metal 1.39%, OIL & GAS 2.88%, IT 0.79%, FMCG 0.81%, PSU 2.3%, REALTY 1.95%, Consumer Durables 1.45%, POWER 1.4%
* MARKET BREADTH: 376 Advances, 121 Declines (BSE 500)
* TODAY'S GAINERS: ONGC 4.99%, RIL 3.35%, BJAUT 3.28%, SAIL 3.11%, IDFC 3.07%
* TODAY'S LOSERS: DRRD -0.91%, SIEM -0.68%, LT -0.57%, HDFCB -0.5%, CAIR -0.49%
No comments:
Post a Comment