SENSEX 16643.74 +192.27
NIFTY 5017.40
+62.60
USD/INR 0050.17 -00.13
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UPDATEDTIME 09.28 PM 19 JANUARY 2012
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The National Stock Exchange's Nifty extended its winning
streak, after a one-day pause, and closed near six-week high as positive
housing reports from the US and International Monetary Fund's plans to provide
$600 billion to support the eurozone nations boosted sentiments across the
global equities.
According to analysts, the market is near crucial resistance levels where traders may initiate some profit booking but the momentum suggests that the resistance levels may be breached on the upside.
The Nifty closed at 5018.40, up 62.60 points or 1.26 per cent. The broader index touched a high of 5023.80 and low of 4991.40 intraday.
The Bombay Stock Exchange's Sensex ended at 16643.74, up 192.27 points or 1.17 per cent. The 30-share index touched a high of 16662.06 and low of 16572.10in trade today.
"Around 5100-5150 the market should run into some stiff weather. Now whether from those levels, we are going to go back all the way down to 4600 or will just go back towards 4950 and then restart the rally that is the interesting point.
The way this rally still continues to show steam, it seems that it will be able to take out some significant levels on the upside, so let's wait and see what happens at 5100-5150.
BSE Midcap Index was up 1.43 per cent and BSE Smallcap Index moved 1.24 per cent higher.
Amongst the sectoral indices, BSE Realty Index was up 3.54 per cent, BSE Metal Index gained 2.81 per cent, BSE Power Index was 2.43 per cent up and BSE Bankex moved 1.85 per cent higher. BSE IT Index was down 0.32 per cent.
Reliance Infrastructure (10.46%), Tata Power (6.54%), Sterlite Industries (6.30%), Jaiprakash Associates(6.06%), NTPC (4.86%) and DLF (4.66%) were the major Nifty gainers.
Shares of power companies were in the limelight after the Prime Minister Manmohan Singh assured promoters of private power companies that a road map would be prepared to resolve issues like fuel shortage, coal prices and delays in green clearances in a time-bound manner.
According to analysts, the market is near crucial resistance levels where traders may initiate some profit booking but the momentum suggests that the resistance levels may be breached on the upside.
The Nifty closed at 5018.40, up 62.60 points or 1.26 per cent. The broader index touched a high of 5023.80 and low of 4991.40 intraday.
The Bombay Stock Exchange's Sensex ended at 16643.74, up 192.27 points or 1.17 per cent. The 30-share index touched a high of 16662.06 and low of 16572.10in trade today.
"Around 5100-5150 the market should run into some stiff weather. Now whether from those levels, we are going to go back all the way down to 4600 or will just go back towards 4950 and then restart the rally that is the interesting point.
The way this rally still continues to show steam, it seems that it will be able to take out some significant levels on the upside, so let's wait and see what happens at 5100-5150.
BSE Midcap Index was up 1.43 per cent and BSE Smallcap Index moved 1.24 per cent higher.
Amongst the sectoral indices, BSE Realty Index was up 3.54 per cent, BSE Metal Index gained 2.81 per cent, BSE Power Index was 2.43 per cent up and BSE Bankex moved 1.85 per cent higher. BSE IT Index was down 0.32 per cent.
Reliance Infrastructure (10.46%), Tata Power (6.54%), Sterlite Industries (6.30%), Jaiprakash Associates(6.06%), NTPC (4.86%) and DLF (4.66%) were the major Nifty gainers.
Shares of power companies were in the limelight after the Prime Minister Manmohan Singh assured promoters of private power companies that a road map would be prepared to resolve issues like fuel shortage, coal prices and delays in green clearances in a time-bound manner.
DLF will sell a
convention centre project in Delhi and its wind power business for about Rs
1,800 crore early next fiscal, say reports. The developer, which had a debt of
over Rs 22,000 crore at the end of September, is hoping to raise Rs 3,000 crore
in the current fiscal and about Rs 3,500 crore in 2012-13 by selling its
non-core businesses.
BHEL (-2.69%), M&M (-1.47%), Bharti Airtel (-1.33%), Siemens (-0.89%), and Infosys Technologies (-0.84%) were the major index losers.
The income-tax department has slapped a Rs 1,067-crore demand notice on Bharti Airtel for its alleged non-payment of Tax Deducted at Source dues in the last four financial years in relation to its overseas operations.
Meanwhile, India's food inflation for week ended January 7, was down 0.42 per cent compared to drop of 2.9 per cent a week ago. Traders are expecting the Reserve Bank of India to cut CRR rates at its policy meet this month, say dealers.
Market breadth was positive on the NSE with 1019 gainers against 479 losers.
BHEL (-2.69%), M&M (-1.47%), Bharti Airtel (-1.33%), Siemens (-0.89%), and Infosys Technologies (-0.84%) were the major index losers.
The income-tax department has slapped a Rs 1,067-crore demand notice on Bharti Airtel for its alleged non-payment of Tax Deducted at Source dues in the last four financial years in relation to its overseas operations.
Meanwhile, India's food inflation for week ended January 7, was down 0.42 per cent compared to drop of 2.9 per cent a week ago. Traders are expecting the Reserve Bank of India to cut CRR rates at its policy meet this month, say dealers.
Market breadth was positive on the NSE with 1019 gainers against 479 losers.
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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