SENSEX 18153.99 -48.42
NIFTY 5521.95
-10.00
USD/INR 0049.38 +00.09
|
UPDATEDTIME 09.28 PM 16 FEBRUARY 2012
|
The Bombay Stock
Exchange's Sensex snapped three-day winning streak and ended a rangebound
session in the negative territory. Profit booking in global markets and
correction in index heavy-weight Reliance Industries hurt sentiments.
However, retail participation in midcap stocks helped the broader markets
outperform the benchmarks.
According to dealers, the bulls took a breather after the recent sharp liquidity-driven rally and the benchmarks are likely to resume uptrend after some consolidation.
The market opened in the red, in line with Asian peers, on concerns of delay in Greece's second bail-out package. Oil&gas index led the decline following profit booking in Reliance Industries after the oil&gas major told the government that natural gas production at its KG-D6 fields is likely to dip to an all-time low of about 22 million cubic meters a day by 2013-14.
Shares of powe companies gained momentum after the government asked Coal India to sign 20-year guaranteed fuel supply agreements with power producers. CLSA downgraded it to 'sell' from 'outperform' and cut its target price to Rs 315 from Rs 350.
Analysts are of the view that investors should not book profits after the recent rally as more upmove is expected on the back of favourable macroeconomic factors.
As far as taking profits out is concerned, that is more a trader's game. From our perspective, obviously this rally has been a pleasant surprise. Having said that, if things pan out in terms of the macroeconomic factors which are now getting in favour there definitely seems to be more legs from a longer term perspective.
I do not know about the trader's perspective but from an investor's perspective, it makes sense to stay invested and there is no profit to be taken because almost everyone has missed out on this rally.
The Sensex closed at 18153.99, down 48.42 points or 0.27 per cent. It touched intraday high of 18182.78 and low of 18043.32.
The National Stock Exchange's Nifty ended at 5521.95, down 10 points or 0.18 per cent. The broader index touched a high of 5531.40 and low of 5483.75 in trade today.
BSE Midcap Index was up 1.04 per cent and BSE Smallcap Index moved 0.96 per cent higher.
Amongst the sectoral indices, BSE Metal Index was down 1.63 per cent, BSE Oil&gas Index fell 1.53 per cent and BSE FMCG Index slipped 0.92 per cent. BSE Realty Index gained 1.53 per cent and BSE Power Index moved up 1.37 per cent.
Coal India (-5.44%), Hindalco Industries (-4.71%), Sterlite Industries (-4.16%), Tata Motors (-3.67%), Tata Steel(-3.23%) and Reliance Industries (-2.86%) were amongst the major Sensex losers.
Jindal Steel (4.94%), Hero MotoCorp (4.57%), State Bank of India (4.38%), Maruti Suzuki (4.10%) and Bajaj Auto (3.81%) were the major gainers.
Market breadth was positive on the BSE with 1640 gainers against 1292 losers.
Foreign institutional investors continued to pump in dollars in Indian equities. As per provisional data, they bought equities worth Rs 1838.85 crore on Wednesday. The FIIs have invested Rs 11427.53 crore so far in February 2012.
According to dealers, the bulls took a breather after the recent sharp liquidity-driven rally and the benchmarks are likely to resume uptrend after some consolidation.
The market opened in the red, in line with Asian peers, on concerns of delay in Greece's second bail-out package. Oil&gas index led the decline following profit booking in Reliance Industries after the oil&gas major told the government that natural gas production at its KG-D6 fields is likely to dip to an all-time low of about 22 million cubic meters a day by 2013-14.
Shares of powe companies gained momentum after the government asked Coal India to sign 20-year guaranteed fuel supply agreements with power producers. CLSA downgraded it to 'sell' from 'outperform' and cut its target price to Rs 315 from Rs 350.
Analysts are of the view that investors should not book profits after the recent rally as more upmove is expected on the back of favourable macroeconomic factors.
As far as taking profits out is concerned, that is more a trader's game. From our perspective, obviously this rally has been a pleasant surprise. Having said that, if things pan out in terms of the macroeconomic factors which are now getting in favour there definitely seems to be more legs from a longer term perspective.
I do not know about the trader's perspective but from an investor's perspective, it makes sense to stay invested and there is no profit to be taken because almost everyone has missed out on this rally.
The Sensex closed at 18153.99, down 48.42 points or 0.27 per cent. It touched intraday high of 18182.78 and low of 18043.32.
The National Stock Exchange's Nifty ended at 5521.95, down 10 points or 0.18 per cent. The broader index touched a high of 5531.40 and low of 5483.75 in trade today.
BSE Midcap Index was up 1.04 per cent and BSE Smallcap Index moved 0.96 per cent higher.
Amongst the sectoral indices, BSE Metal Index was down 1.63 per cent, BSE Oil&gas Index fell 1.53 per cent and BSE FMCG Index slipped 0.92 per cent. BSE Realty Index gained 1.53 per cent and BSE Power Index moved up 1.37 per cent.
Coal India (-5.44%), Hindalco Industries (-4.71%), Sterlite Industries (-4.16%), Tata Motors (-3.67%), Tata Steel(-3.23%) and Reliance Industries (-2.86%) were amongst the major Sensex losers.
Jindal Steel (4.94%), Hero MotoCorp (4.57%), State Bank of India (4.38%), Maruti Suzuki (4.10%) and Bajaj Auto (3.81%) were the major gainers.
Market breadth was positive on the BSE with 1640 gainers against 1292 losers.
Foreign institutional investors continued to pump in dollars in Indian equities. As per provisional data, they bought equities worth Rs 1838.85 crore on Wednesday. The FIIs have invested Rs 11427.53 crore so far in February 2012.
RAKESH MAKIN
+91,
9041667797(DIRECT), 9915684997
OFF
0172-4657997
PANCHKULA (Haryana).
Email:makin_97@yahoo.com
Group mail id: makin97NSEtips@yahoogroups.co.inM
No comments:
Post a Comment