SENSEX 17318.81 +131.47
NIFTY 5248.15
+39.15
USD/INR 0052.59 +00.05
NASDAQ 3051.26 -17.94
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UPDATEDTIME 09.28 PM 30 APRIL 2012
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The Sensex ended in the positive terrain for the third consecutive
session led by technology, oil and gas, realty and metal stocks.
Token buying by foreign institutional investors in a previous truncated session helped boost sentiment. FIIs bought equities worth Rs 6.17 crore in the special session on Saturday, according to provisional data. They sold equities worth Rs 2361.40 crore for the five consecutive sessions last week.
FIIs have been shying away from the Indian markets over GAAR, current and fiscal deficit concerns.
Volatility and uncertainty will continue to dominate the Indian markets in the near term. The budget is going to get passed in May. The key would be in what format and with what addition or deletion the budget is passed.
Another key issue is how the government handles GAAR. That will decide future FII inflows.
"Whether we like it or not, we continue to depend on FII inflows and, right now, they are not putting in money because of the uncertainty on GAAR. One could also look at how the government is going to look at the fuel price hikes.
The Sensex closed at 17,318.81, up 131.47 points, or 0.76 percent. It touched an intraday high of 17,359.18 and a low of 17,195.51.
The Nifty ended at 5,248.15, up 39.15 points, or 0.75 percent. It touched an intraday high of 5,262.15 and a low of 5,201.45.
According to technical analysts, the market is rangebound with a positive bias. Selling activity seems to have been exhausted and in the next few sessions, if global cues remain supportive, the benchmarks might breach the intermediate resistance levels.
"We have a good chance of breaking above 5,275-5,280 if global markets support us. If these markets remain good for two days we might actually challenge them right away on Wednesday morning. Above 5,280, you might see markets gain some momentum and 5,350-5,370 is what I would look for in the upside.
The BSE Midcap Index was up 0.69 percent and the BSE Smallcap Index gained 0.57 percent.
Among sectoral indices, the BSE IT Index was up 2.37 percent, the BSE Oil & Gas Index advanced 1.05 percent, the BSE Realty Index gained 1.04 percent and the BSE Metal Index was up 0.89 percent. The BSE FMCG Index slipped 0.27 percent.
TCS (3.49%), Jindal Steel (3.41%), Infosys Technologies (2.75%), DLF (2.61%) and Hero MotoCorp (2.35%) were among the top Sensex gainers.
Goldman Sachs upgraded DLF to 'buy' from 'neutral'. It raised the target price of the stock to Rs 264 on expectations of a pickup in residential and commercial property sales.
Maruti Suzuki (1.95%), BHEL (1.94%), M&M (0.64%), ITC (0.61%) and HDFC (0.50%) were among the index losers.
Shares of Maruti Suzuki slipped after the company announced its quarterly results on Saturday. Its standalone net profit slipped to Rs 639 crore for the quarter ended March 2012 against Rs 659 crore in the same period a year ago. Net sales rose to Rs 11,486.36 crore for the March 2012 quarter against Rs 9,796.71 crore in the corresponding quarter a year ago.
Shares of BHEL were down on profit booking amid media reports that the Rajasthan Rajya Vidyut Utpadan Nigam scrapped tenders worth over Rs 12,000 crore for setting up mega power projects.
The market breadth was positive on the BSE with 1,173 gainers against 1,091 losers.
Token buying by foreign institutional investors in a previous truncated session helped boost sentiment. FIIs bought equities worth Rs 6.17 crore in the special session on Saturday, according to provisional data. They sold equities worth Rs 2361.40 crore for the five consecutive sessions last week.
FIIs have been shying away from the Indian markets over GAAR, current and fiscal deficit concerns.
Volatility and uncertainty will continue to dominate the Indian markets in the near term. The budget is going to get passed in May. The key would be in what format and with what addition or deletion the budget is passed.
Another key issue is how the government handles GAAR. That will decide future FII inflows.
"Whether we like it or not, we continue to depend on FII inflows and, right now, they are not putting in money because of the uncertainty on GAAR. One could also look at how the government is going to look at the fuel price hikes.
The Sensex closed at 17,318.81, up 131.47 points, or 0.76 percent. It touched an intraday high of 17,359.18 and a low of 17,195.51.
The Nifty ended at 5,248.15, up 39.15 points, or 0.75 percent. It touched an intraday high of 5,262.15 and a low of 5,201.45.
According to technical analysts, the market is rangebound with a positive bias. Selling activity seems to have been exhausted and in the next few sessions, if global cues remain supportive, the benchmarks might breach the intermediate resistance levels.
"We have a good chance of breaking above 5,275-5,280 if global markets support us. If these markets remain good for two days we might actually challenge them right away on Wednesday morning. Above 5,280, you might see markets gain some momentum and 5,350-5,370 is what I would look for in the upside.
The BSE Midcap Index was up 0.69 percent and the BSE Smallcap Index gained 0.57 percent.
Among sectoral indices, the BSE IT Index was up 2.37 percent, the BSE Oil & Gas Index advanced 1.05 percent, the BSE Realty Index gained 1.04 percent and the BSE Metal Index was up 0.89 percent. The BSE FMCG Index slipped 0.27 percent.
TCS (3.49%), Jindal Steel (3.41%), Infosys Technologies (2.75%), DLF (2.61%) and Hero MotoCorp (2.35%) were among the top Sensex gainers.
Goldman Sachs upgraded DLF to 'buy' from 'neutral'. It raised the target price of the stock to Rs 264 on expectations of a pickup in residential and commercial property sales.
Maruti Suzuki (1.95%), BHEL (1.94%), M&M (0.64%), ITC (0.61%) and HDFC (0.50%) were among the index losers.
Shares of Maruti Suzuki slipped after the company announced its quarterly results on Saturday. Its standalone net profit slipped to Rs 639 crore for the quarter ended March 2012 against Rs 659 crore in the same period a year ago. Net sales rose to Rs 11,486.36 crore for the March 2012 quarter against Rs 9,796.71 crore in the corresponding quarter a year ago.
Shares of BHEL were down on profit booking amid media reports that the Rajasthan Rajya Vidyut Utpadan Nigam scrapped tenders worth over Rs 12,000 crore for setting up mega power projects.
The market breadth was positive on the BSE with 1,173 gainers against 1,091 losers.
RAKESH MAKIN
+91,
9041667797(DIRECT), 9915684997
OFF
0172-4657997
PANCHKULA (Haryana).
Email:makin_97@yahoo.com
Group mail id: makin97NSEtips@yahoogroups.co.in
