SENSEX 17361.74 +165.27
NIFTY 5278.20 +49.75
USD/INR 0051.20 +00.58
NASDAQ 3060.11 -03.21
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UPDATEDTIME 09.28 PM 23 MARCH 2012
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The Bombay Stock Exchange's Sensex ended volatility marred
session in the positive terrain led by gains in realty, technology, banks and
FMCG space. According to dealers, the market has turned volatile due to lack of
cues and is likely to remain rangebound ahead of corporate earnings and Reserve
Bank of India's policy meet.
Meanwhile, Goldman Sachs has upgraded Indian equity market to 'Market Weight' from 'Underweight and expects the Nifty to hit 6100 by March 2013.
"We believe growth will indeed pick up in India over the next one to two quarters and that the equity market will start to reflect these prospects in the coming months. We also note that core inflation has been decelerating, most recently to 5.8%, which should allow the RBI to ease the repo rate by 150 bp during FY13, supporting the growth view.
However the reports states that high oil prices pose risk to Indian equities.
Oil prices present the most significant risk to our more positive view on India. Oil prices can impact the budget (which aims to limit subsidies to 2% of GDP) and increase inflation, thereby diminishing the potential for repo rate cuts," the report added.
The Bombay Stock Exchange's Sensex closed at 17361.74, up 165.27 points or 0.96 per cent. It touched intraday high of 17458.35 and low of 17179.33.
The Nifty ended at 5278.20, up 49.75 points or 0.95 per cent. The broader index touched a high of 5312 and low of 5220 in trade today.
"What has happened for the last 3 days is basically nothing. The market is just jumping around in going short and long. Now within the day you have different types of action. The market moves up at one point and comes down the next point.
What is going to happen is the range will get narrower. From a 200-point range we will probably get into a 100-point range. Once this volatility dies down, only then the next directional move can start.
BSE Midcap Index up 0.61 per cent and BSE Smallcap Index moved 0.40 per cent higher.
Amongst the sectoral indices, BSE Realty Index was up 1.61 per cent, BSE IT Index gained 1.38 per cent, BSE Bankex moved 1.27 per cent higher and BSE FMCG Index advanced 1.16 per cent.
Hero MotoCorp (4.08%), Bharti Airtel (3.69%), Sun Pharma (2.71%), GAIL (2.39%) and HDFC Bank (2.24%) were the major Sensex gainers.
Jindal Steel (-1.90%), Maruti Suzuki (-1.68%), ONGC (-1.26%), Coal India (-1.25%) and Hindalco Industries(-1.02%) were amongst the top losers.
Market breadth was positive on the BSE with 1470 gainers against 1431 losers.
Meanwhile, Goldman Sachs has upgraded Indian equity market to 'Market Weight' from 'Underweight and expects the Nifty to hit 6100 by March 2013.
"We believe growth will indeed pick up in India over the next one to two quarters and that the equity market will start to reflect these prospects in the coming months. We also note that core inflation has been decelerating, most recently to 5.8%, which should allow the RBI to ease the repo rate by 150 bp during FY13, supporting the growth view.
However the reports states that high oil prices pose risk to Indian equities.
Oil prices present the most significant risk to our more positive view on India. Oil prices can impact the budget (which aims to limit subsidies to 2% of GDP) and increase inflation, thereby diminishing the potential for repo rate cuts," the report added.
The Bombay Stock Exchange's Sensex closed at 17361.74, up 165.27 points or 0.96 per cent. It touched intraday high of 17458.35 and low of 17179.33.
The Nifty ended at 5278.20, up 49.75 points or 0.95 per cent. The broader index touched a high of 5312 and low of 5220 in trade today.
"What has happened for the last 3 days is basically nothing. The market is just jumping around in going short and long. Now within the day you have different types of action. The market moves up at one point and comes down the next point.
What is going to happen is the range will get narrower. From a 200-point range we will probably get into a 100-point range. Once this volatility dies down, only then the next directional move can start.
BSE Midcap Index up 0.61 per cent and BSE Smallcap Index moved 0.40 per cent higher.
Amongst the sectoral indices, BSE Realty Index was up 1.61 per cent, BSE IT Index gained 1.38 per cent, BSE Bankex moved 1.27 per cent higher and BSE FMCG Index advanced 1.16 per cent.
Hero MotoCorp (4.08%), Bharti Airtel (3.69%), Sun Pharma (2.71%), GAIL (2.39%) and HDFC Bank (2.24%) were the major Sensex gainers.
Jindal Steel (-1.90%), Maruti Suzuki (-1.68%), ONGC (-1.26%), Coal India (-1.25%) and Hindalco Industries(-1.02%) were amongst the top losers.
Market breadth was positive on the BSE with 1470 gainers against 1431 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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