SENSEX 15814.72 -34.08
NIFTY 4742.80
-04.10
USD/INR 0052.51 -00.16
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UPDATEDTIME 09.28 PM 09 JANUARY 2012
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The National Stock Exchange's Nifty pared most of the intraday
losses and closed on a flat-to-negative note in absence of supportive cues from
global peers. In the short-term, the market is likely to continue to move in a
range and take cues from corporate earnings, RBI meet and IIP data for
direction.
According to analysts, from medium to long term perspective the market will react to reform policies and easing inflation.
"For the domestic side we are yet to see significant policy action or rather execution action from the government. At the same time there are certain cyclical elements, which are falling in place for the equity markets. For example, we have seen inflation coming down.
It has already declined over the last two months and even manufactured product inflation will begin to trend down, which is the proxy for core inflation in India. This would at some stage lead the RBI to cut interest rates. One does not exactly know when it would come through. Our base case assumption is the second quarter or the April-June quarter when it comes through.
"We think the market would trade in the range of 14000 to 19000. Our end of 2012 target is in the range of 18000-18500 on the Sensex.
The Nifty closed at 4742.80, down 4.10 points or 0.09 per cent. It touched a high of 4758.70 and low of 4695.45 in trade today.
The Bombay Stock Exchange's Sensex ended at 15814.72, down 34.08 points or 0.22 per cent. The 30-share index touched intraday high 15871.51 and low of 15678.30 intraday
"It is difficult to say that the market will remain in a 100-point range. Chances are it will break out but the break out may not be sustainable. You could see both 4900-4950 as well as may be levels lower than 4700. So you need to be prepared for both sides. It is not a very directional market and when all is said and done we may still be hanging around this 4500 to 4900 type of band.
BSE Midcap Index was up 0.64 per cent and BSE Smallcap Index gained 1.40 per cent.
Amongst the sectoral indices, BSE Oil&gas Index was down 0.71 per cent, BSE Auto Index declined 0.47 per cent and BSE FMCG Index slipped 0.34 per cent. BSE Power Index was up 1.57 per cent, BSE Realty Index moved 1.48 per cent higher and BSE Capital Goods Index gained 1.33 per cent.
Bharti Airtel (-3.25%), Sesa Goa (-2.29%), State Bank of India (-2.07%), Coal India (-1.72%) and Bajaj Auto (-1.64%) were the major Nifty losers.
BHEL (3.35%), Cipla (3.14%), Jaiprakash Associates (2.80%), Jindal Steel (2.56%) and IDFC (2.55%) were from the gainers pack.
According to analysts, from medium to long term perspective the market will react to reform policies and easing inflation.
"For the domestic side we are yet to see significant policy action or rather execution action from the government. At the same time there are certain cyclical elements, which are falling in place for the equity markets. For example, we have seen inflation coming down.
It has already declined over the last two months and even manufactured product inflation will begin to trend down, which is the proxy for core inflation in India. This would at some stage lead the RBI to cut interest rates. One does not exactly know when it would come through. Our base case assumption is the second quarter or the April-June quarter when it comes through.
"We think the market would trade in the range of 14000 to 19000. Our end of 2012 target is in the range of 18000-18500 on the Sensex.
The Nifty closed at 4742.80, down 4.10 points or 0.09 per cent. It touched a high of 4758.70 and low of 4695.45 in trade today.
The Bombay Stock Exchange's Sensex ended at 15814.72, down 34.08 points or 0.22 per cent. The 30-share index touched intraday high 15871.51 and low of 15678.30 intraday
"It is difficult to say that the market will remain in a 100-point range. Chances are it will break out but the break out may not be sustainable. You could see both 4900-4950 as well as may be levels lower than 4700. So you need to be prepared for both sides. It is not a very directional market and when all is said and done we may still be hanging around this 4500 to 4900 type of band.
BSE Midcap Index was up 0.64 per cent and BSE Smallcap Index gained 1.40 per cent.
Amongst the sectoral indices, BSE Oil&gas Index was down 0.71 per cent, BSE Auto Index declined 0.47 per cent and BSE FMCG Index slipped 0.34 per cent. BSE Power Index was up 1.57 per cent, BSE Realty Index moved 1.48 per cent higher and BSE Capital Goods Index gained 1.33 per cent.
Bharti Airtel (-3.25%), Sesa Goa (-2.29%), State Bank of India (-2.07%), Coal India (-1.72%) and Bajaj Auto (-1.64%) were the major Nifty losers.
BHEL (3.35%), Cipla (3.14%), Jaiprakash Associates (2.80%), Jindal Steel (2.56%) and IDFC (2.55%) were from the gainers pack.
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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