SENSEX 17707.31
+102.35
NIFTY 5361.65
+35.80
USD/INR 0049.05 +00.36
|
UPDATEDTIME 09.28 PM 06 FEBRUARY 2012
|
The National Stock Exchange's Nifty
extended winning streak for fifth consecutive day as foreign institutional
investors continued to pump in dollars into Indian equities. All the sectoral
indices, except the Healthcare Index, ended in the green with rate sensitives
like realty, capital goods and metals leading the upmove.
Foreign institutional investors bought shares worth Rs 1074.21 crore on Friday taking aggregate equities purchase to around Rs 4700 crore in the last three sessions itself, as per provisional data.
According to analysts, the markets are close to higher end of the band and traders should use any correction as an opportunity to enter the market. They also advise traders to avoid entering markets at current levels.
"We are pleasantly surprised with the kind of levels that we saw this morning, almost close to 5400. After a move of about 13-15% from the lows recently to the levels where we are right now on the Sensex and Nifty, it would be prudent to see some consolidation, see some profit booking.
By default this market has now turned into buy on dips market rather than sell on rally. Yes, there are important events, which will unfold in the next couple of hours in terms of where does Greece stand as far as the measures that the World Bank and the IMF have been telling them to do?
The data points from the US have been quite positive and on our side, the next focus is definitely going to be on the reforms side that will be announced in the budget.
We are possibly at a higher end of the trading band. Use opportunities to get into the market and participate whenever the market corrects. Levels of 4600 and 4200 are not visible now on the horizon but anywhere close to about 4800 and 5100 on the Nifty spot will be a decent level to get in.
The Nifty had opened with a gap-up taking cues from positive Asian peers following robust US jobs data. After moving in a range, the index slipped in the afternoon following negative opening of European peers. However, the bulls managed to bounce back in the last hour of trade and close comfortably in the green.
The National Stock Exchange's Nifty closed at 5361.65, up 35.80 points or 0.67 per cent. The broader index touched a high of 5390.05 and low of 5327.25 intraday.
The Sensex ended at 17707.31, up 102.35 points or 0.58 per cent. The 30-share index touched a high of 17829.72 and low of 17595.10 in trade today.
"The market trend is up and the right way to trade it is to wait for a decline. It may not come tomorrow or day after but at some point the market will come down for a 3-5 day type decline. That would be the right opportunity to get in for the indices.
Meanwhile individual stocks will keep breaking out. Some of them will pause; others will break out, so that way you can go with individuals but on the indices. I do not think after a 7-8 day up move, it makes too much sense to buy at the top and then see a 200 point Nifty correction. The markets will open every day and you need to wait till the market really comes into your corner.
BSE Midcap Index was up 1.26 per cent and BSE Smallcap Index moved 1.43 per cent higher.
Amongst the sectoral indices, BSE Realty Index moved 3.96 per cent higher, BSE Capital Goods Index gained 2 per cent and BSE Metal Index was up 1.63 per cent. BSE Healthcare Index was down 0.12 per cent.
ACC (5.74%), Ambuja Cements (5.22%), Siemens India (4.01%), Cairn India (3.53%) and Jindal Steel (3.50%) were the major Nifty gainers.
Tata Power (-4.26%), Hindustan Unilever (-3.20%), Sun Pharma (-2.03%), Dr Reddy's Laboratories (-1.73%) and Reliance Infrastructure (-1.71%) were amongst the losers.
Tata Power has said the flagship 4,000-MW Mundra UMPP could become a "non-performing asset" if no decision is taken on increasing tariffs for electricity from the plant.
The company bagged the Mundra project in 2007 on the basis of the lowest tariff bid of Rs 2.26 a unit, but a change in the coal pricing policy in Indonesia has disturbed the cost structure of this and other projects that are dependent on imported coal.
Hindustan Unilever reported standalone net profit of Rs 753.81 crore for quarter ended December 2011 against Rs 637.51 crore in the same period a year ago. Net sales were at Rs 5852.73 crore for December 2011 quarter as compared to Rs 5027.01 crore in the corresponding quarter last fiscal.
Market breadth was positive on the NSE with 781 gainers against 369 losers.
Foreign institutional investors bought shares worth Rs 1074.21 crore on Friday taking aggregate equities purchase to around Rs 4700 crore in the last three sessions itself, as per provisional data.
According to analysts, the markets are close to higher end of the band and traders should use any correction as an opportunity to enter the market. They also advise traders to avoid entering markets at current levels.
"We are pleasantly surprised with the kind of levels that we saw this morning, almost close to 5400. After a move of about 13-15% from the lows recently to the levels where we are right now on the Sensex and Nifty, it would be prudent to see some consolidation, see some profit booking.
By default this market has now turned into buy on dips market rather than sell on rally. Yes, there are important events, which will unfold in the next couple of hours in terms of where does Greece stand as far as the measures that the World Bank and the IMF have been telling them to do?
The data points from the US have been quite positive and on our side, the next focus is definitely going to be on the reforms side that will be announced in the budget.
We are possibly at a higher end of the trading band. Use opportunities to get into the market and participate whenever the market corrects. Levels of 4600 and 4200 are not visible now on the horizon but anywhere close to about 4800 and 5100 on the Nifty spot will be a decent level to get in.
The Nifty had opened with a gap-up taking cues from positive Asian peers following robust US jobs data. After moving in a range, the index slipped in the afternoon following negative opening of European peers. However, the bulls managed to bounce back in the last hour of trade and close comfortably in the green.
The National Stock Exchange's Nifty closed at 5361.65, up 35.80 points or 0.67 per cent. The broader index touched a high of 5390.05 and low of 5327.25 intraday.
The Sensex ended at 17707.31, up 102.35 points or 0.58 per cent. The 30-share index touched a high of 17829.72 and low of 17595.10 in trade today.
"The market trend is up and the right way to trade it is to wait for a decline. It may not come tomorrow or day after but at some point the market will come down for a 3-5 day type decline. That would be the right opportunity to get in for the indices.
Meanwhile individual stocks will keep breaking out. Some of them will pause; others will break out, so that way you can go with individuals but on the indices. I do not think after a 7-8 day up move, it makes too much sense to buy at the top and then see a 200 point Nifty correction. The markets will open every day and you need to wait till the market really comes into your corner.
BSE Midcap Index was up 1.26 per cent and BSE Smallcap Index moved 1.43 per cent higher.
Amongst the sectoral indices, BSE Realty Index moved 3.96 per cent higher, BSE Capital Goods Index gained 2 per cent and BSE Metal Index was up 1.63 per cent. BSE Healthcare Index was down 0.12 per cent.
ACC (5.74%), Ambuja Cements (5.22%), Siemens India (4.01%), Cairn India (3.53%) and Jindal Steel (3.50%) were the major Nifty gainers.
Tata Power (-4.26%), Hindustan Unilever (-3.20%), Sun Pharma (-2.03%), Dr Reddy's Laboratories (-1.73%) and Reliance Infrastructure (-1.71%) were amongst the losers.
Tata Power has said the flagship 4,000-MW Mundra UMPP could become a "non-performing asset" if no decision is taken on increasing tariffs for electricity from the plant.
The company bagged the Mundra project in 2007 on the basis of the lowest tariff bid of Rs 2.26 a unit, but a change in the coal pricing policy in Indonesia has disturbed the cost structure of this and other projects that are dependent on imported coal.
Hindustan Unilever reported standalone net profit of Rs 753.81 crore for quarter ended December 2011 against Rs 637.51 crore in the same period a year ago. Net sales were at Rs 5852.73 crore for December 2011 quarter as compared to Rs 5027.01 crore in the corresponding quarter last fiscal.
Market breadth was positive on the NSE with 781 gainers against 369 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
No comments:
Post a Comment