SENSEX 17233.98 +156.80
NIFTY 5204.70
+46.40
USD/INR 0050.02 +00.02
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UPDATEDTIME 09.28 PM 27 JANUARY 2012
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The National Stock Exchange's Nifty extended its winning streak and
closed near important resistance levels as the Indian markets caught up with
global equities following the US Federal Reserve's announcement to keep
interest lows to zero till the end of 2014. Hints of third round of
quantitative easing bought risk appetite back in global equities.
The upmove was aided by gains in index heavy-weight Reliance Industries. The company's offer to buy back up to 12 crore equity shares worth Rs 10,440 crore from the open market at a maximum price of Rs 870 per share will start from February 1 and close on January 19, 2013.
The Nifty, which rallied around 12 per cent in January on positive triggers like CRR cut and easing inflation, moved closer to 200 DMA levels.
According to analysts, the next few sessions are important as we are near crucial resistance levels. They expect the indices to consolidate after bout of profit booking before next upmove.
Next 30-40 points are fairly crucial. I do not think being too aggressive right now will help. Try to take profits and try to see if the next 50 points get cleared easily. Chances are they will get cleared at some point in the future but before that, it is easily possible that the market just shakes out weak hands and then again resumes rally.
It is getting to a point where everybody is convinced that this rally is for real and the most people are onboard like at 4550 everybody was short. Right now you would think most people are long, so chances are next week we could see some sideways action before we move forward but midcap, small-cap rallies are likely to continue.
The Nifty closed at 5204.70, up 46.40 points or 0.90 per cent. The broader index touched a high of 5217 and low of 5162.40 intraday.
The Bombay Stock Exchange's Sensex ended at 17233.98, up 156.80 points or 0.92 per cent. The 30-share index touched a high of 17258.97 and low of 17106.57 in trade today.
BSE Midcap Index was up 0.62 per cent and BSE Smallcap Index moved 1.30 per cent higher.
Amongst the sectoral indices, BSE Oil&gas Index was up 2.69 per cent, BSE Metal Index gained 1.89 per cent and BSE Capital Goods Index moved 1.82 per cent higher. BSE Realty Index was 2.22 per cent lower, BSE FMCG declined 0.81 per cent and BSE Bankex slipped 0.37 per cent.
Sesa Goa (7.47%), SAIL (6.91%), Sterlite Industries (6.73%), Grasim Industries (4.43%), Larsen & Toubro (4.16%) and Reliance Industries (3.29%) were the major Nifty gainers.
The upmove was aided by gains in index heavy-weight Reliance Industries. The company's offer to buy back up to 12 crore equity shares worth Rs 10,440 crore from the open market at a maximum price of Rs 870 per share will start from February 1 and close on January 19, 2013.
The Nifty, which rallied around 12 per cent in January on positive triggers like CRR cut and easing inflation, moved closer to 200 DMA levels.
According to analysts, the next few sessions are important as we are near crucial resistance levels. They expect the indices to consolidate after bout of profit booking before next upmove.
Next 30-40 points are fairly crucial. I do not think being too aggressive right now will help. Try to take profits and try to see if the next 50 points get cleared easily. Chances are they will get cleared at some point in the future but before that, it is easily possible that the market just shakes out weak hands and then again resumes rally.
It is getting to a point where everybody is convinced that this rally is for real and the most people are onboard like at 4550 everybody was short. Right now you would think most people are long, so chances are next week we could see some sideways action before we move forward but midcap, small-cap rallies are likely to continue.
The Nifty closed at 5204.70, up 46.40 points or 0.90 per cent. The broader index touched a high of 5217 and low of 5162.40 intraday.
The Bombay Stock Exchange's Sensex ended at 17233.98, up 156.80 points or 0.92 per cent. The 30-share index touched a high of 17258.97 and low of 17106.57 in trade today.
BSE Midcap Index was up 0.62 per cent and BSE Smallcap Index moved 1.30 per cent higher.
Amongst the sectoral indices, BSE Oil&gas Index was up 2.69 per cent, BSE Metal Index gained 1.89 per cent and BSE Capital Goods Index moved 1.82 per cent higher. BSE Realty Index was 2.22 per cent lower, BSE FMCG declined 0.81 per cent and BSE Bankex slipped 0.37 per cent.
Sesa Goa (7.47%), SAIL (6.91%), Sterlite Industries (6.73%), Grasim Industries (4.43%), Larsen & Toubro (4.16%) and Reliance Industries (3.29%) were the major Nifty gainers.
Ranbaxy
Laboratories (-6.82%), Punjab National Bank(-3.59%), DLF (-3.56%), Jaiprakash
Associates(-3.23%) and BHEL (-3.19%) were the major losers.
Shares of Ranbaxy Laboratories plunged after the company agreed to make significant changes in its manufacturing facilities in India and US as part of a settlement that seeks to end wide-ranging investigations against the pharma major by the USFDA.
Under the agreement, Ranbaxy will be stopped from selling drugs made at four of its manufacturing plants to the US market until it fixes problems at these operations. The settlement aims at ending a three-year legal dispute between Ranbaxy and the US Justice Department and Food and Drug Administration.
Market breadth was positive on the NSE with 743 gainers against 389 losers.
Shares of Ranbaxy Laboratories plunged after the company agreed to make significant changes in its manufacturing facilities in India and US as part of a settlement that seeks to end wide-ranging investigations against the pharma major by the USFDA.
Under the agreement, Ranbaxy will be stopped from selling drugs made at four of its manufacturing plants to the US market until it fixes problems at these operations. The settlement aims at ending a three-year legal dispute between Ranbaxy and the US Justice Department and Food and Drug Administration.
Market breadth was positive on the NSE with 743 gainers against 389 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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