SENSEX 16926.22 294.21
NIFTY 5032.70 90.95
NASDAQ 2176.05 6.87
DJIA 10426.31 -11.11
RS/$ 46.25 - 0.16
The Indian stock market got a shot in the arm Monday after the country’s gross domestic product grew by an astonishing 7.9 per cent in the second quarter for 2009-10 against expectations of 6.3 per cent. The GDP grew at 6.1 per cent in the previous quarter.
Markets opened higher on the back of short covering after a sharp fall Friday on fears of Dubai debt crisis. All the sectoral indices ended in the green. Buying was seen in second rung stocks as well.
“Although the growth momentum is strong, we believe the impact of the drought on agricultural growth would be seen in the next quarter. Looking ahead to 2010, we would expect the role of the private sector to start increasing more rapidly while that of the government to ease gradually. There are upside risks to our FY10 GDP growth forecast of 5.8%. For FY11, we expect GDP to grow near-trend at 7.8%. We believe the recovery in activity will drive the rupee stronger and expect the Reserve Bank of India to start hiking rates in January. We also continue to recommend short USD/INR positions,
Bombay Stock Exchange’s Sensex closed at 16,926.22, up 294.21 points or 1.77 per cent from Friday’s close. The index touched a high of 17,026.91 and low of 16,655.75 intraday.
National Stock Exchange’s Nifty ended at 5032.70, up 90.95 points or 1.84 per cent. The index hit a high of 5066.35 and low of 4942.25.
The BSE Midcap Index was up 1.63 per cent and BSE Smallcap Index moved 2.08 per cent higher.
NIFTY 5032.70 90.95
NASDAQ 2176.05 6.87
DJIA 10426.31 -11.11
RS/$ 46.25 - 0.16
The Indian stock market got a shot in the arm Monday after the country’s gross domestic product grew by an astonishing 7.9 per cent in the second quarter for 2009-10 against expectations of 6.3 per cent. The GDP grew at 6.1 per cent in the previous quarter.
Markets opened higher on the back of short covering after a sharp fall Friday on fears of Dubai debt crisis. All the sectoral indices ended in the green. Buying was seen in second rung stocks as well.
“Although the growth momentum is strong, we believe the impact of the drought on agricultural growth would be seen in the next quarter. Looking ahead to 2010, we would expect the role of the private sector to start increasing more rapidly while that of the government to ease gradually. There are upside risks to our FY10 GDP growth forecast of 5.8%. For FY11, we expect GDP to grow near-trend at 7.8%. We believe the recovery in activity will drive the rupee stronger and expect the Reserve Bank of India to start hiking rates in January. We also continue to recommend short USD/INR positions,
Bombay Stock Exchange’s Sensex closed at 16,926.22, up 294.21 points or 1.77 per cent from Friday’s close. The index touched a high of 17,026.91 and low of 16,655.75 intraday.
National Stock Exchange’s Nifty ended at 5032.70, up 90.95 points or 1.84 per cent. The index hit a high of 5066.35 and low of 4942.25.
The BSE Midcap Index was up 1.63 per cent and BSE Smallcap Index moved 2.08 per cent higher.
Biggest Sensex gainers were Tata Steel (5.71%), Bharti Airtel (5.66%), Jaiprakash Associates (5.17%), Tata Motors (5.16%) &Hindalco Industries (3.81%).
Hero Honda (-1.71%), Maruti Suzuki (-0.47%), SBI (-0.42%) and DLF (-0.23%) were amongst the top Sensex losers
Amongst the sectoral indices, BSE Metal was up 3.66 per cent, BSE IT Index gained 2.1 per cent and BSE Oil&gas Index moved 1.6 per cent higher.
Amongst the sectoral indices, BSE Metal was up 3.66 per cent, BSE IT Index gained 2.1 per cent and BSE Oil&gas Index moved 1.6 per cent higher.
No comments:
Post a Comment