SENSEX 17316.18
+42.81
NIFTY 5274.85 +17.80
USD/INR 0050.19 +00.28
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UPDATEDTIME 09.28 PM 20 MARCH 2012
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The Bombay Stock Exchange's Sensex snapped three-day losing
streak and ended a volatile session in the positive terrain led by gains in
realty, FMCG, healthcare and banks. Analysts say the market movement will
continue to be liquidity driven. Benchmarks are expected to react to crude oil prices
and Reserve Bank of India's policy meet for direction.
"Crude oil prices and the inflow of money are the two big triggers for markets. As far as the earnings growth is concerned, we are in the process of ensuring that we do not fall further in terms of our earnings growth trajectory.
We are waiting to see the pace of interest rate cuts coming in from the RBI domestically. Other than these three events, two of them -- external crude oil and inflows -- and the only one internal, which is the RBI cutting rates, there are not much triggers left this market.
So mostly, as everyone expects, the markets should be range-bound.
He added that it is difficult to pinpoint whether liquidity will remain or go away and has advised investors to book profits when there is 10 per cent rise in the market.
The Sensex closed at 17316.18, up 42.81 points or 0.25 per cent. It touched intraday high of 17410.13 and low of 17211.73.
The National Stock Exchange's Nifty ended at 5274.85, up 17.80 points or 0.34 per cent. The broader index touched a high of 5297.35 and low of 5233.25 in trade today.
"So far as we hold onto 5170 the intermediate trend remains up. Now we need to see if the market holds onto 5250 for next 2-3 days and if we get the global support back. If there is consolidation at these levels then the correction may end.
Today's action was indecisive between narrow range of 5240-5290. If the market stays around these levels for couple of days then we can probably look at some sustainable upside.
Till then you will keep getting these flashes as rallies and they will keep getting sold into but it seems that the market is pausing for a bit.
BSE Midcap Index was up 0.56 per cent and BSE Smallcap Index moved 0.03 per cent lower.
Amongst the sectoral indices, BSE Realty Index moved 1.44 per cent higher, BSE FMCG Index advanced 1.04 per cent, BSE Healthcare Index was up 1.01 per cent and BSE Bankex was up 0.85 per cent. BSE Auto Index was down 1.50 per cent.
Sun Pharma (2.69%), HDFC Bank (2.08%), Jindal Steel (1.51%), DLF (1.37%), and Cipla (1.30%) were the major Sensex gainers.
Tata Motors (-4.21%), Coal India (-2.31%), Hindalco Industries (-1.74%), Bajaj Auto (-1.24%) and Bharti Airtel (-0.71%) were amongst the top losers.
State Bank of India has got approval to make preferential allotment of 3.6 crore equity shares to Government of India at an issue price of Rs 2191.69 per share.
Market breadth was negative on the BSE with 1335 gainers against 1542 losers.
"Crude oil prices and the inflow of money are the two big triggers for markets. As far as the earnings growth is concerned, we are in the process of ensuring that we do not fall further in terms of our earnings growth trajectory.
We are waiting to see the pace of interest rate cuts coming in from the RBI domestically. Other than these three events, two of them -- external crude oil and inflows -- and the only one internal, which is the RBI cutting rates, there are not much triggers left this market.
So mostly, as everyone expects, the markets should be range-bound.
He added that it is difficult to pinpoint whether liquidity will remain or go away and has advised investors to book profits when there is 10 per cent rise in the market.
The Sensex closed at 17316.18, up 42.81 points or 0.25 per cent. It touched intraday high of 17410.13 and low of 17211.73.
The National Stock Exchange's Nifty ended at 5274.85, up 17.80 points or 0.34 per cent. The broader index touched a high of 5297.35 and low of 5233.25 in trade today.
"So far as we hold onto 5170 the intermediate trend remains up. Now we need to see if the market holds onto 5250 for next 2-3 days and if we get the global support back. If there is consolidation at these levels then the correction may end.
Today's action was indecisive between narrow range of 5240-5290. If the market stays around these levels for couple of days then we can probably look at some sustainable upside.
Till then you will keep getting these flashes as rallies and they will keep getting sold into but it seems that the market is pausing for a bit.
BSE Midcap Index was up 0.56 per cent and BSE Smallcap Index moved 0.03 per cent lower.
Amongst the sectoral indices, BSE Realty Index moved 1.44 per cent higher, BSE FMCG Index advanced 1.04 per cent, BSE Healthcare Index was up 1.01 per cent and BSE Bankex was up 0.85 per cent. BSE Auto Index was down 1.50 per cent.
Sun Pharma (2.69%), HDFC Bank (2.08%), Jindal Steel (1.51%), DLF (1.37%), and Cipla (1.30%) were the major Sensex gainers.
Tata Motors (-4.21%), Coal India (-2.31%), Hindalco Industries (-1.74%), Bajaj Auto (-1.24%) and Bharti Airtel (-0.71%) were amongst the top losers.
State Bank of India has got approval to make preferential allotment of 3.6 crore equity shares to Government of India at an issue price of Rs 2191.69 per share.
Market breadth was negative on the BSE with 1335 gainers against 1542 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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