WERE TODAY'S SENSEX GAINERS
SENSEX 16877.06 +71.73
NIFTY 5062.60
+23.45
USD/INR 0051.70 +00.46
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UPDATEDTIME 09.28 PM 07 DECEMBER 2011
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The Bombay
Stock Exchange's Sensex ended a choppy session in the positive terrain in line
with global peers ahead of European Union meet later this week.
Gains in technology, capital goods and realty were offset by losses in healthcare and power space.
Regarding the EU meeting on December 9-10, analysts and experts are saying that this is the last chance for the Euro. S&P has kind of forewarned on downgrades of the various EU nations just before this meeting. So, probably the experts feel that this meeting is also not going to result in something substantial.
But yes, the expectations are that this should be a make or break meeting and some positive news flows should pan out. If that happens then we can see further improvement in the global markets and at least hopefully for the next few months. But if there are some challenges over there, then there could be a sharp correction in the market.
The Sensex closed at 16877.06, up 71.73 points or 0.43 per cent. The 30-share index touched intraday low of 16781.62 and high of 17003.71.
The National Stock Exchange's Nifty ended at 5062.60, up 23.45 points or 0.47 per cent. The broader index touched a high of 5099.25 and low of 5032.25 in trade today.
For the markets to sustain a rally there has to be more action on the domestic front and also global environment has to be more benign. So, what we saw last week and in the last 10 trading sessions were more of a short covering kind of a rally. For the rally to continue further we require more inputs.
Meanwhile, back home the parliament resumed work after nine days of disruption after the government suspended plans to allow foreign direct investment in retail sector.
We don't expect the government to revive this legislation anytime soon given the lack of numbers and impending state government elections in next 12 months. We expect the proposal to remain in cold storage and meet the same fate which several other government proposals have met (Urea policy, GST, DTC, Land Acquisition etc). We will be positively surprised if it goes through during the tenure of current government.
BSE Midcap Index and BSE Smallcap Index were up 0.20 per cent each.
Amongst the sectoral indices, BSE IT Index moved 1.43 per cent higher, BSE Capital Goods Index gained 0.78 per cent and BSE Realty Index advanced 0.77 per cent. BSE Healthcare Index was down 1.53 per cent, BSE Power Index slipped 0.41 per cent.
Wipro (3.31%), Infosys Technologies (1.95%) Jaiprakash Associates (1.89%), HDFC (1.82%) and ONGC (1.64%) were the top Sensex gainers.
Wipro Technologies is consolidating its quality and information systems, global delivery and business application services functions into a single business operations unit. The company is combining these functions to streamline delivery and simultaneously bring in greater automation at the backend.
Wipro Infrastructure Engineering has signed a joint venture contract with Kawasaki Heavy Industries in India to set-up a manufacturing facility for hydraulic pumps for excavators.
Bharti Airtel (-3.33%), NTPC (-3.21%), Sun Pharmaceuticals (-2.58%), Coal India (-2.44%) and ICICI Bank (-1.64%) were amongst the losers.
Gains in technology, capital goods and realty were offset by losses in healthcare and power space.
Regarding the EU meeting on December 9-10, analysts and experts are saying that this is the last chance for the Euro. S&P has kind of forewarned on downgrades of the various EU nations just before this meeting. So, probably the experts feel that this meeting is also not going to result in something substantial.
But yes, the expectations are that this should be a make or break meeting and some positive news flows should pan out. If that happens then we can see further improvement in the global markets and at least hopefully for the next few months. But if there are some challenges over there, then there could be a sharp correction in the market.
The Sensex closed at 16877.06, up 71.73 points or 0.43 per cent. The 30-share index touched intraday low of 16781.62 and high of 17003.71.
The National Stock Exchange's Nifty ended at 5062.60, up 23.45 points or 0.47 per cent. The broader index touched a high of 5099.25 and low of 5032.25 in trade today.
For the markets to sustain a rally there has to be more action on the domestic front and also global environment has to be more benign. So, what we saw last week and in the last 10 trading sessions were more of a short covering kind of a rally. For the rally to continue further we require more inputs.
Meanwhile, back home the parliament resumed work after nine days of disruption after the government suspended plans to allow foreign direct investment in retail sector.
We don't expect the government to revive this legislation anytime soon given the lack of numbers and impending state government elections in next 12 months. We expect the proposal to remain in cold storage and meet the same fate which several other government proposals have met (Urea policy, GST, DTC, Land Acquisition etc). We will be positively surprised if it goes through during the tenure of current government.
BSE Midcap Index and BSE Smallcap Index were up 0.20 per cent each.
Amongst the sectoral indices, BSE IT Index moved 1.43 per cent higher, BSE Capital Goods Index gained 0.78 per cent and BSE Realty Index advanced 0.77 per cent. BSE Healthcare Index was down 1.53 per cent, BSE Power Index slipped 0.41 per cent.
Wipro (3.31%), Infosys Technologies (1.95%) Jaiprakash Associates (1.89%), HDFC (1.82%) and ONGC (1.64%) were the top Sensex gainers.
Wipro Technologies is consolidating its quality and information systems, global delivery and business application services functions into a single business operations unit. The company is combining these functions to streamline delivery and simultaneously bring in greater automation at the backend.
Wipro Infrastructure Engineering has signed a joint venture contract with Kawasaki Heavy Industries in India to set-up a manufacturing facility for hydraulic pumps for excavators.
Bharti Airtel (-3.33%), NTPC (-3.21%), Sun Pharmaceuticals (-2.58%), Coal India (-2.44%) and ICICI Bank (-1.64%) were amongst the 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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