SENSEX 17813.62
+225.95
NIFTY 5429.50 +69.95
USD/INR 0049.92 -00.10
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UPDATEDTIME 09.28 PM 13 MARCH 2012
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The
National Stock Exchange's Nifty extended its winning streak for third
consecutive session led by gains in metals, oil&gas, realty and power
stocks. The liquidity driven pre-budget rally on the back of inflows from
foreign funds may turn volatile as important events like monetary policy and
union budget unfold, say analysts.
"It is evident that what we are seeing is overwhelming response to the liquidity impulse that is emanated from the LTRO globally and that has actually started playing out in all its fully glory today as well. My sense is liquidity will prevail over the fundamentals and expect the momentum will continue till budget.
The near term may have turned bullish for the market but there is skepticism whether the rally would continue post budget as the fundamentals have not changed much.
"I do not see any particular economic, financial or political trigger at this point in time which would encourage me to say that we can expect this to be a sustained kind of a movement.
Yes this is a kind of an anticipatory thing that is happening and we need to wait and see and then how this progresses and what exactly happens once the budget is presented and then the discussions are over.
I would think that we have to allow these kind of things to pass and then from April, May onwards we can see whether there is any positive news or not. That will indicate the trend of the markets for the coming months.
Meanwhile, the stocks that could have benefited from Railway Budget closed in the negative territory. Minister for Railways, Dinesh Trivedi would be presenting the Railway Budget for the financial year 2012-2013 On March 14, 2012.
Titagarh Wagons closed 0.89% lower, BEML slipped 1.08%, Stone India was down 3.8% and Kalindee Rail Nigam declined 2.1%.
The Nifty ended at 5429.50, up 69.95 points or 1.31 per cent. The broader index touched a high of 5438.65 and low of 5390.80 in trade today.
The Bombay Stock Exchange's Sensex ended at 17813.62, up 225.95 points or 1.28 per cent. It touched intraday high of 17842.92 and low of 17680.23.
BSE Midcap Index gained 1.21 per cent and BSE Smallcap Index moved 1.03 per cent higher.
Amongst the sectoral indices, BSE Metal Index gained 3.01 per cent, BSE Oil&gas Index advanced 2.60 per cent, BSE Realty Index moved 2.11 per cent higher and BSE Capital Goods Index gained 1.51 per cent.
Sterlite Industries (5.18%), Sesa Goa (5.16%), SAIL (5.03%), GAIL (4.53%) and Jaiprakash Associates(4.39%) were the major Nifty gainers.
Wipro (-1.66%), M&M (-0.93%), Reliance Infrastructure (-0.93%), Tata Motors (-0.49%) and HCL Tech (-0.07%) were the major losers.
"It is evident that what we are seeing is overwhelming response to the liquidity impulse that is emanated from the LTRO globally and that has actually started playing out in all its fully glory today as well. My sense is liquidity will prevail over the fundamentals and expect the momentum will continue till budget.
The near term may have turned bullish for the market but there is skepticism whether the rally would continue post budget as the fundamentals have not changed much.
"I do not see any particular economic, financial or political trigger at this point in time which would encourage me to say that we can expect this to be a sustained kind of a movement.
Yes this is a kind of an anticipatory thing that is happening and we need to wait and see and then how this progresses and what exactly happens once the budget is presented and then the discussions are over.
I would think that we have to allow these kind of things to pass and then from April, May onwards we can see whether there is any positive news or not. That will indicate the trend of the markets for the coming months.
Meanwhile, the stocks that could have benefited from Railway Budget closed in the negative territory. Minister for Railways, Dinesh Trivedi would be presenting the Railway Budget for the financial year 2012-2013 On March 14, 2012.
Titagarh Wagons closed 0.89% lower, BEML slipped 1.08%, Stone India was down 3.8% and Kalindee Rail Nigam declined 2.1%.
The Nifty ended at 5429.50, up 69.95 points or 1.31 per cent. The broader index touched a high of 5438.65 and low of 5390.80 in trade today.
The Bombay Stock Exchange's Sensex ended at 17813.62, up 225.95 points or 1.28 per cent. It touched intraday high of 17842.92 and low of 17680.23.
BSE Midcap Index gained 1.21 per cent and BSE Smallcap Index moved 1.03 per cent higher.
Amongst the sectoral indices, BSE Metal Index gained 3.01 per cent, BSE Oil&gas Index advanced 2.60 per cent, BSE Realty Index moved 2.11 per cent higher and BSE Capital Goods Index gained 1.51 per cent.
Sterlite Industries (5.18%), Sesa Goa (5.16%), SAIL (5.03%), GAIL (4.53%) and Jaiprakash Associates(4.39%) were the major Nifty gainers.
Wipro (-1.66%), M&M (-0.93%), Reliance Infrastructure (-0.93%), Tata Motors (-0.49%) and HCL Tech (-0.07%) were the major losers.
The Azim Premji
Trust, which was gifted 213 million shares of Wipro in December 2010 (valued
then at 8,846 crore), will sell 35 million of them, the first time it is doing
so since the endowment was created. The money will be used to fund the
expansion of Azim Premji Foundation, which is working to improve teaching and
learning in some of India's most backward districts.
"Wipro is already on an uptrend, and it can move up further. Once it crosses Rs 450 then you will see lot of traction coming in and it is heartening fact for the bulls that it is already above 50-100 and 200 day moving averages. It is moving up in a steady fashion so do not expect any fireworks but definitely you can buy at current levels with a stop below the 200 day moving average around Rs 405.
Shares of Mahindra & Mahindra continued to slip lower as sentiments turned bearish after the company cut tractor production for 4-5days during March 2012 on account of a slowdown in demand.
Market breadth was positive on the NSE with 738 gainers against 311 losers.
"Wipro is already on an uptrend, and it can move up further. Once it crosses Rs 450 then you will see lot of traction coming in and it is heartening fact for the bulls that it is already above 50-100 and 200 day moving averages. It is moving up in a steady fashion so do not expect any fireworks but definitely you can buy at current levels with a stop below the 200 day moving average around Rs 405.
Shares of Mahindra & Mahindra continued to slip lower as sentiments turned bearish after the company cut tractor production for 4-5days during March 2012 on account of a slowdown in demand.
Market breadth was positive on the NSE with 738 gainers against 311 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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