SENSEX 15970.75 +232.05
NIFTY 4779.00 +65.00
USD/INR 0052.71 -00.07
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UPDATEDTIME 09.28 PM 26 DECEMBER 2011
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The National
Stock Exchange's Nifty ended first day of the week on a positive note as buying
activity was seen in frontline stocks in a low-volume day. The benchmarks are
witnessing a short-covering rally, say dealers. They expect the market to
remain rangebound for next few sessions ahead of December series expiry and due
to absence of institutional investors.
The markets had opened in the green, on the back of positive economic data from the US, and gained momentum even as the European markets remained shut on account of Christmas celebrations.
Market experts believe the market may have bottomed out in the short term. However, the benchmarks may not be able to sustain at higher levels and next leg of sharp selling may follow the rally.
If you look at the short term, the worst might be over. In the sense that you might see a Sensex rally taking the Indian markets up, maybe to 16500, even close to 17000 but whether it would sustain beyond that becomes a question mark.
For the very short term the bottom has been made and you will see some highs, but thereafter we see it more difficult to sustain and you might again see 13000-14000 kind of levels once again.
The Sensex ended at 15970.75, up 232.05 points or 1.47 per cent. The 30-share index touched intraday low of 15761.18 and high of 15998.44.
The Nifty closed at 4779, up 65 points or 1.38 per cent. The broader index touched a high of 4787 .25 and low of 4718.15 in trade today.
BSE Midcap Index was up 0.83 per cent and BSE Smallcap Index moved 0.98 per cent higher.
Amongst the sectoral indices, BSE IT Index was up 2.39 per cent, BSE Realty Index advanced 1.59 per cent, BSE Metal Index moved 1.39 per cent higher and BSE Capital Goods Index advanced 1.34 per cent.
Hero MotoCorp (4.54%), Bharti Airtel (4.45%), Reliance Communications (3.35%), Infosys Technologies (3.24%), and Tata Steel (3.02%) were the major Nifty gainers.
Shares of Bharti Airtel and Idea Cellular gained momentum after telecom tribunal TDSAT directed the government not to take any "coercive" action against three telecom firms over inter-circle roaming agreement on 3G till January 3. Idea Cellular rallied 4.44 per cent.
Axis Bank (-1.41%), BPCL (-1.27%), Maruti Suzuki (-1.06%), Ranbaxy Laboratories (-1.05%) and Hindalco Industries (-0.94%) were amongst the losers.
Tata Motors has plans to replace starter motor of 1.40 lakh Nano cars with a new and 'better' one. The exercise is likely to cost around Rs 110 crore for the company. The scrip closed 0.89 per cent higher on the BSE.
Market breadth was positive on the BSE with 1735 gainers against 971 losers.
The markets had opened in the green, on the back of positive economic data from the US, and gained momentum even as the European markets remained shut on account of Christmas celebrations.
Market experts believe the market may have bottomed out in the short term. However, the benchmarks may not be able to sustain at higher levels and next leg of sharp selling may follow the rally.
If you look at the short term, the worst might be over. In the sense that you might see a Sensex rally taking the Indian markets up, maybe to 16500, even close to 17000 but whether it would sustain beyond that becomes a question mark.
For the very short term the bottom has been made and you will see some highs, but thereafter we see it more difficult to sustain and you might again see 13000-14000 kind of levels once again.
The Sensex ended at 15970.75, up 232.05 points or 1.47 per cent. The 30-share index touched intraday low of 15761.18 and high of 15998.44.
The Nifty closed at 4779, up 65 points or 1.38 per cent. The broader index touched a high of 4787 .25 and low of 4718.15 in trade today.
BSE Midcap Index was up 0.83 per cent and BSE Smallcap Index moved 0.98 per cent higher.
Amongst the sectoral indices, BSE IT Index was up 2.39 per cent, BSE Realty Index advanced 1.59 per cent, BSE Metal Index moved 1.39 per cent higher and BSE Capital Goods Index advanced 1.34 per cent.
Hero MotoCorp (4.54%), Bharti Airtel (4.45%), Reliance Communications (3.35%), Infosys Technologies (3.24%), and Tata Steel (3.02%) were the major Nifty gainers.
Shares of Bharti Airtel and Idea Cellular gained momentum after telecom tribunal TDSAT directed the government not to take any "coercive" action against three telecom firms over inter-circle roaming agreement on 3G till January 3. Idea Cellular rallied 4.44 per cent.
Axis Bank (-1.41%), BPCL (-1.27%), Maruti Suzuki (-1.06%), Ranbaxy Laboratories (-1.05%) and Hindalco Industries (-0.94%) were amongst the losers.
Tata Motors has plans to replace starter motor of 1.40 lakh Nano cars with a new and 'better' one. The exercise is likely to cost around Rs 110 crore for the company. The scrip closed 0.89 per cent higher on the BSE.
Market breadth was positive on the BSE with 1735 gainers against 971 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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