SENSEX 17562.61 +80.68
NIFTY 5284.20
+18.45
USD/INR 0049.05 -00.14
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UPDATEDTIME 09.28 PM 04 NOVEMBER 2011
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The Bombay
Stock Exchange's Sensex ended last day of the week in positive territory after
giving away most of intraday gains. Wary investors chose to book some profits
off the table ahead of developments in Greece's parliament and extended weekend
back home.
After pressure from the European Union, Greece's Prime Minister George Papandreou shelved his plans to hold referendum on bail-out plan but now his government faces a confidence vote in parliament today.
According to analysts, the market upside looks capped and the next few months may turn out to be volatile.
"We have moved fairly rapidly from the near term bottom so any significant upside from these levels looks unlikely. My sense is next two or three months will be extremely choppy or depending on which way the data flows in. Nobody has any confidence on what is happening both in terms of global economy and what is happening in the local economy so you are going to see bouts of volatility.
You will have it on both side, both on the upside and on the downside so my sense is upside from here looks unlikely we should probably end the year somewhere between 5000-5400 depending on what the news flow is from here on.
The Sensex ended at 17562.61, up 80.68 points or 0.46 per cent. The 30-share index touched intraday low of 17474.39 and high of 17702.26.
The National Stock Exchange's Nifty ended at 5284.20, up 18.45 points or 0.35 per cent. The broader index touched a high of 5326.45 and low of 5256.80 in trade today.
"As long as we hold onto 5200, we are fine. Now what's going to happen out there, probably people in Greece do not know enough, so broadly the worst seems to be priced in. But each time you think the worst is in the price, something even worst happens. So the idea should be to hold onto mid caps because they may not slide a whole lot even if the market gaps down, so if you are in stronger stocks, you will be okay.
BSE Midcap Index was up 0.75 per cent and BSE Smallcap Index moved 0.38 per cent higher.
Amongst the sectoral indices, BSE Metal Index was up 1.64 per cent, BSE Capital Goods Index gained 1.03 per cent, BSE Realty Index advanced 0.80 per cent and BSE Bankex moved 0.62 per cent higher. BSE Oil&gas Index slipped 0.31 per cent.
Hindalco Industries (2.43%), Jindal Steel (2.42%) Hero MotoCorp (2.19%) Sterlite Industries (1.69%) and Sun Pharmaceuticals (1.54%) were amongst the major Sensex gainers.
Tata Power (-1.95%), Hindustan Unilever (-0.85%), Reliance Industries (-0.57%), Maruti Suzuki (-0.51%), and Tata Consultancy Services (-0.39%) were amongst the index losers.
Market breadth was positive on the BSE with 1580 gainers against 1277 losers.
After pressure from the European Union, Greece's Prime Minister George Papandreou shelved his plans to hold referendum on bail-out plan but now his government faces a confidence vote in parliament today.
According to analysts, the market upside looks capped and the next few months may turn out to be volatile.
"We have moved fairly rapidly from the near term bottom so any significant upside from these levels looks unlikely. My sense is next two or three months will be extremely choppy or depending on which way the data flows in. Nobody has any confidence on what is happening both in terms of global economy and what is happening in the local economy so you are going to see bouts of volatility.
You will have it on both side, both on the upside and on the downside so my sense is upside from here looks unlikely we should probably end the year somewhere between 5000-5400 depending on what the news flow is from here on.
The Sensex ended at 17562.61, up 80.68 points or 0.46 per cent. The 30-share index touched intraday low of 17474.39 and high of 17702.26.
The National Stock Exchange's Nifty ended at 5284.20, up 18.45 points or 0.35 per cent. The broader index touched a high of 5326.45 and low of 5256.80 in trade today.
"As long as we hold onto 5200, we are fine. Now what's going to happen out there, probably people in Greece do not know enough, so broadly the worst seems to be priced in. But each time you think the worst is in the price, something even worst happens. So the idea should be to hold onto mid caps because they may not slide a whole lot even if the market gaps down, so if you are in stronger stocks, you will be okay.
BSE Midcap Index was up 0.75 per cent and BSE Smallcap Index moved 0.38 per cent higher.
Amongst the sectoral indices, BSE Metal Index was up 1.64 per cent, BSE Capital Goods Index gained 1.03 per cent, BSE Realty Index advanced 0.80 per cent and BSE Bankex moved 0.62 per cent higher. BSE Oil&gas Index slipped 0.31 per cent.
Hindalco Industries (2.43%), Jindal Steel (2.42%) Hero MotoCorp (2.19%) Sterlite Industries (1.69%) and Sun Pharmaceuticals (1.54%) were amongst the major Sensex gainers.
Tata Power (-1.95%), Hindustan Unilever (-0.85%), Reliance Industries (-0.57%), Maruti Suzuki (-0.51%), and Tata Consultancy Services (-0.39%) were amongst the index losers.
Market breadth was positive on the BSE with 1580 gainers against 1277 losers.
Regards
RAKESH MAKIN
+91,
9041667797(DIRECT), 9915684997
OFF
0172-4657997
PANCHKULA (Haryana).
Email:makin_97@yahoo.com
Group mail id: makin97NSEtips@yahoogroups.co.in
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