SENSEX 17193.55 +330.25
NIFTY 5199.25
+111.95
USD/INR 0049.44 +00.20
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UPDATEDTIME 09.28 PM 31 JANUARY 2012
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The Bombay Stock Exchange's Sensex pared losses suffered in
previous session and closed near important resistance levels taking support of
positive global peers. The benchmark recorded highest gains for the month of
January in 18 years.
According to analysts, the market fundamentals are good and monetary easing stance by the Reserve Bank of India was shot in the arm for the bulls. The outcome of assembly elections in the five states and Union Budget will be the next big triggers for the market.
Fundamentals from medium to long term perspective were always good but one of the key concerns which most of the investors as well as corporates had was continued tight monetary policy by RBI and high interest rate.
The recent CRR cut has been a very positive move and that has been the concern of most of the investors and corporates. Now they are looking forward to a rate cut in March or may be early next financial year.
As interest rates start moving downward and monetary conditions become easier, we will see the capital formation and the capex cycle gaining momentum which, more or less, had almost collapsed in last one year or so. With that, sentiment will also revive.
That is a very positive sign about the economy. If the investment scenario improves then I am sure that macro fundamentals will start looking better. If UP elections do not throw some unpleasant surprises for the ruling party then we will see that government will have more courage to push through reforms after the elections.
The Sensex closed at 17193.55, up 330.25 points or 1.96 per cent. The 30-share index touched a high of 17238.99 and low of 16965.58 in trade today.
The National Stock Exchange's Nifty ended at 5199.25, up 111.95 points or 2.20 per cent. The broader index touched a high of 5215.40 and low of 5120.15 intraday.
"Possibly yesterday was an aberration, so I would avoid going short. I would rather wait for some kind of a decline to go long and play for a target of 5280-5300. Now whether one goes long at this level or 50 points lower, obviously 50 points lower is preferable. 5100 can be a safe stop loss. I do not think that will be breached.
BSE Midcap Index moved 1.99 per cent higher and BSE Smallcap Index gained 1.41 per cent.
Amongst the sectoral indices, BSE Bankex rallied 3.84 per cent, BSE Realty Index gained 3.51 per cent, BSE Auto Index advanced 2.37 per cent and BSE Metal Index moved 2.24 per cent higher.
Hindalco Industries (6.65%), ICICI Bank (5.87%), DLF (5.29%), Tata Motors (4.06%) and Bajaj Auto (3.58%) were the major Sensex gainers.
ICICI Bank reported standalone net profit of Rs 1728.10 crore for quarter ended December 2011 against Rs 1437.02 crore in the same period a year ago. Interest earned was at Rs 8591.87 crore for quarter ended December 2011 against Rs 6695.96 crore in the corresponding quarter last fiscal.
Overall, the company has posted healthy results both on operational front as well as on asset quality front. This has led to fresh momentum on the stock, and this momentum can be expected to remain good as interest rate reversal by RBI is just round the corner.
Bajaj Auto unveiled a new motorcycle model -- Pulsar 200NS -- which will be commercially launched in the beginning of the next fiscal. The new Pulsar has a 200 cc gasoline engine while its chassis comprises a pressed steel perimeter frame and a rectangular tube section swing arm delivering over three times the lateral stiffness of a P220 frame.
Coal India (-2.99%), Hindustan Unilever (-1.64%) Maruti Suzuki (-1.28%), Larsen & Toubro (-0.98%) and NTPC (-0.61%) were amongst the losers.
Under fire from industrial users, India's state-run monopoly coal miner, Coal India, rolled back on Tuesday an increase in prices under a new pricing policy, but will review the system after assessing its Jan-Mar quarter performance.
Coal India decided this month to benchmark pricing for non-coking coal to gross calorific value (GCV) from the current useful heat value (UHV) based gradation. The move evoked protests from users in cement and steel sectors.
Market breadth was positive on the BSE with 1804 gainers against 1034 losers.
Regards
According to analysts, the market fundamentals are good and monetary easing stance by the Reserve Bank of India was shot in the arm for the bulls. The outcome of assembly elections in the five states and Union Budget will be the next big triggers for the market.
Fundamentals from medium to long term perspective were always good but one of the key concerns which most of the investors as well as corporates had was continued tight monetary policy by RBI and high interest rate.
The recent CRR cut has been a very positive move and that has been the concern of most of the investors and corporates. Now they are looking forward to a rate cut in March or may be early next financial year.
As interest rates start moving downward and monetary conditions become easier, we will see the capital formation and the capex cycle gaining momentum which, more or less, had almost collapsed in last one year or so. With that, sentiment will also revive.
That is a very positive sign about the economy. If the investment scenario improves then I am sure that macro fundamentals will start looking better. If UP elections do not throw some unpleasant surprises for the ruling party then we will see that government will have more courage to push through reforms after the elections.
The Sensex closed at 17193.55, up 330.25 points or 1.96 per cent. The 30-share index touched a high of 17238.99 and low of 16965.58 in trade today.
The National Stock Exchange's Nifty ended at 5199.25, up 111.95 points or 2.20 per cent. The broader index touched a high of 5215.40 and low of 5120.15 intraday.
"Possibly yesterday was an aberration, so I would avoid going short. I would rather wait for some kind of a decline to go long and play for a target of 5280-5300. Now whether one goes long at this level or 50 points lower, obviously 50 points lower is preferable. 5100 can be a safe stop loss. I do not think that will be breached.
BSE Midcap Index moved 1.99 per cent higher and BSE Smallcap Index gained 1.41 per cent.
Amongst the sectoral indices, BSE Bankex rallied 3.84 per cent, BSE Realty Index gained 3.51 per cent, BSE Auto Index advanced 2.37 per cent and BSE Metal Index moved 2.24 per cent higher.
Hindalco Industries (6.65%), ICICI Bank (5.87%), DLF (5.29%), Tata Motors (4.06%) and Bajaj Auto (3.58%) were the major Sensex gainers.
ICICI Bank reported standalone net profit of Rs 1728.10 crore for quarter ended December 2011 against Rs 1437.02 crore in the same period a year ago. Interest earned was at Rs 8591.87 crore for quarter ended December 2011 against Rs 6695.96 crore in the corresponding quarter last fiscal.
Overall, the company has posted healthy results both on operational front as well as on asset quality front. This has led to fresh momentum on the stock, and this momentum can be expected to remain good as interest rate reversal by RBI is just round the corner.
Bajaj Auto unveiled a new motorcycle model -- Pulsar 200NS -- which will be commercially launched in the beginning of the next fiscal. The new Pulsar has a 200 cc gasoline engine while its chassis comprises a pressed steel perimeter frame and a rectangular tube section swing arm delivering over three times the lateral stiffness of a P220 frame.
Coal India (-2.99%), Hindustan Unilever (-1.64%) Maruti Suzuki (-1.28%), Larsen & Toubro (-0.98%) and NTPC (-0.61%) were amongst the losers.
Under fire from industrial users, India's state-run monopoly coal miner, Coal India, rolled back on Tuesday an increase in prices under a new pricing policy, but will review the system after assessing its Jan-Mar quarter performance.
Coal India decided this month to benchmark pricing for non-coking coal to gross calorific value (GCV) from the current useful heat value (UHV) based gradation. The move evoked protests from users in cement and steel sectors.
Market breadth was positive on the BSE with 1804 gainers against 1034 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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