SENSEX 16480.80 +109.86
NIFTY 5056.60
+20.80
NASDAQ 2524.08 +00.63
|
UPDATEDTIME 09.28 PM 17 AUGUST
2011
|
Benchmarks
snapped three-day losing streak and closed in the positive terrain as investors
bought stocks available at lower levels. Technology, FMCG and metals led the
upmove while rate sensitives like realty, auto and banks were under pressure on
rate hike concerns.
The market opened on a positive note but failed to breach intermediate resistance levels due to lack of buying support. Uncertainties over functioning of parliament after the arrest of social activist Anna Hazare also kept investors worried.
According to RBS, the arrest of Anna Hazare could disrupt monsoon session of parliament and lead to delay in reform legislation.
Prime Minister Manmohan Singh, on the arrest and subsequent release of Hazare, said that the protesting methods were "misconceived." Singh added that the demands to 'impose' Hazare's own version of the bill were unacceptable and undemocratic.
The government has said Hazare is free to go anywhere but the activist has refused to come out of the prison unless he was allowed to protest from JP Park without conditions. There are reports that the Delhi police may give some relaxations to Hazare and his supporters to hold fast.
"In the short term the stand off between Team Anna and the UPA government won't have any material impact but on the long term basis it will be good for Indian economy.
National Stock Exchange's Nifty closed at 5056.60, up 20.80 points or 0.41 per cent. The broader index touched a high of 5112.15 and low of 5017.25 in trade today.
Bombay Stock Exchange's Sensex ended at 16840.80, up 109.86 points or 0.66 per cent. The 30-share index touched intraday low of 16708.98 and high of 17000.38.
BSE Midcap Index was down 0.87 per cent and BSE Smallcap Index declined 1.61 per cent.
Amongst the sectoral indices, BSE IT Index was up 2.23 per cent, BSE FMCG Index gained 1.38 per cent and BSE Capital Goods Index moved 0.59 per cent higher.
BSE Realty Index was down 2.82 per cent, BSE Auto Index declined 1.20 per cent and BSE Bankex slipped 1.10 per cent.
HCL Tech (3.27%), HDFC Bank (2.97%) TCS (2.71%), HDFC (2.56%) and Hero Motocorp (2.43%) were amongst major Nifty gainers.
Coal India toppled Reliance Industries as the country's most valued company, with a slightly higher market valuation around mid-day. In the afternoon, Coal India touched a market cap of Rs 250,759.67 crore while Reliance Industries had a market cap of Rs 250,580.21 crore. Shares of Coal India closed at Rs 398, up 2.83 per cent on the NSE.
Losers included DLF (-6.27%), Axis Bank (-3.61%), Maruti (-3.27%), Tata Motors (-2.69%) and ICICI Bank (-2.47%).
Tata Motors slipped was witnessing profit booking after the company reported 6 per cent fall in its global vehicle sales.
Market breadth was negative on the BSE with 2180 losers against 1064 gainers.
The European markets were witnessing profit booking as Franco-German summit failed to lift sentiments. Meanwhile, the US stock futures are indicating a positive start.
The market opened on a positive note but failed to breach intermediate resistance levels due to lack of buying support. Uncertainties over functioning of parliament after the arrest of social activist Anna Hazare also kept investors worried.
According to RBS, the arrest of Anna Hazare could disrupt monsoon session of parliament and lead to delay in reform legislation.
Prime Minister Manmohan Singh, on the arrest and subsequent release of Hazare, said that the protesting methods were "misconceived." Singh added that the demands to 'impose' Hazare's own version of the bill were unacceptable and undemocratic.
The government has said Hazare is free to go anywhere but the activist has refused to come out of the prison unless he was allowed to protest from JP Park without conditions. There are reports that the Delhi police may give some relaxations to Hazare and his supporters to hold fast.
"In the short term the stand off between Team Anna and the UPA government won't have any material impact but on the long term basis it will be good for Indian economy.
National Stock Exchange's Nifty closed at 5056.60, up 20.80 points or 0.41 per cent. The broader index touched a high of 5112.15 and low of 5017.25 in trade today.
Bombay Stock Exchange's Sensex ended at 16840.80, up 109.86 points or 0.66 per cent. The 30-share index touched intraday low of 16708.98 and high of 17000.38.
BSE Midcap Index was down 0.87 per cent and BSE Smallcap Index declined 1.61 per cent.
Amongst the sectoral indices, BSE IT Index was up 2.23 per cent, BSE FMCG Index gained 1.38 per cent and BSE Capital Goods Index moved 0.59 per cent higher.
BSE Realty Index was down 2.82 per cent, BSE Auto Index declined 1.20 per cent and BSE Bankex slipped 1.10 per cent.
HCL Tech (3.27%), HDFC Bank (2.97%) TCS (2.71%), HDFC (2.56%) and Hero Motocorp (2.43%) were amongst major Nifty gainers.
Coal India toppled Reliance Industries as the country's most valued company, with a slightly higher market valuation around mid-day. In the afternoon, Coal India touched a market cap of Rs 250,759.67 crore while Reliance Industries had a market cap of Rs 250,580.21 crore. Shares of Coal India closed at Rs 398, up 2.83 per cent on the NSE.
Losers included DLF (-6.27%), Axis Bank (-3.61%), Maruti (-3.27%), Tata Motors (-2.69%) and ICICI Bank (-2.47%).
Tata Motors slipped was witnessing profit booking after the company reported 6 per cent fall in its global vehicle sales.
Market breadth was negative on the BSE with 2180 losers against 1064 gainers.
The European markets were witnessing profit booking as Franco-German summit failed to lift sentiments. Meanwhile, the US stock futures are indicating a positive start.
Regards
RAKESH MAKIN
+91 9915684997,
9041667797(DIRECT)
OFF
0172-4657997
PANCHKULA (Haryana).
Email:makin_97@yahoo.com
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