SENSEX 17597.42 +119.27
NIFTY 5358.50 +40.60
USD/INR 0050.81 -00.06
NASDAQ 3113.86 -05.84
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UPDATEDTIME 09.28 PM 03 APRIL 2012
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The National Stock Exchange's Nifty
extended its winning streak for third consecutive day on the hopes that the Reserve
Bank of India might cut interest rates at its next policy meet to promote
growth.
According to analysts, global risk appetite, rate cuts and corporate earnings likely to provide support to Indian markets going forward.
VIX is low and such low levels indicate a considerable degree of investors risk appetite globally. The second thing is that both in Europe and in America fund flows are picking up and at some stage translate into flows into India.
The third thing is we are at the beginning of a mild economic recovery and a mild rate cutting cycle. It is not going to be 50-100 basis points of rate cuts from the RBI but even 25 to 50 bps will lift sentiment.
Those three positives are holding India. My sense is Sensex at 19000 is a pretty reasonable target for investors over next 7-8 months.
The Sensex ended at 17597.42, up 119.27 points or 0.68 per cent. It touched intraday high of 17664.10 and low of 17570.27.
The National Stock Exchange's Nifty closed at 5358.50, up 40.60 points or 0.76 per cent. The broader index touched a high of 5378.75 and low of 5344.45 in trade today.
"The market might see couple of days of consolidation. You might get a dip to levels of 5300 which could be excellent buying opportunities for people who trade on the Nifty. You have favourable risk reward kind of equation with 5275 acting as a stop loss and possibly 5450 as the target.
Around the 5310-5300 mark on the spot is where I would wait for the Nifty to initiate fresh long positions.
BSE Midcap Index was up 0.95 per cent and BSE Smallcap Index moved up 1.14 per cent.
Amongst the sectoral indices, BSE Capital Goods Index was up 1.65 per cent, BSE Oil&gas Index moved 1.56 per cent higher and BSE Metal Index gained 1.38 per cent. BSE Healthcare Index was down 0.45 per cent and BSE Auto Index edged 0.19 per cent lower.
Jaiprakash Associates (4.66%), Cairn India (3.96%), Hindalco Industries (3.50%), Sesa Goa (3.14%), Sterlite Industries (3.02) and Reliance Industries (1.61%) were the major Nifty gainers.
Dr Reddy's Laboratories (-2.55%), Hero MotoCorp (-2.49%), Maruti Suzuki (-2.26%), TCS (-1.52%) andReliance Power (-1.47%) were the major index losers.
BHEL's provisional net profit for FY12 rose to Rs 6868 crore as compared to Rs 6011 crore a year ago. The company's FY12 turnover climbed to Rs 49301 crore (provisional) as against Rs 43337 crore previous year. The government has decided to put on hold plans to sell a stake in the company, the management said
TCS witnessed profit booking after reports that a US court has granted approval for a class action lawsuit over wage disputes.
Shares of Kingfisher Airlines surged higher as the company's employees including pilots and engineers, who were threatening to go on a strike due to non-payment of dues, decided not to go ahead with their agitation.
Market breadth was positive on the NSE with 904 gainers against 392 losers.
As per the provisional data, foreign institutional investors bought equities worth Rs 245.94 crore on 2 April 2012.
Regards
According to analysts, global risk appetite, rate cuts and corporate earnings likely to provide support to Indian markets going forward.
VIX is low and such low levels indicate a considerable degree of investors risk appetite globally. The second thing is that both in Europe and in America fund flows are picking up and at some stage translate into flows into India.
The third thing is we are at the beginning of a mild economic recovery and a mild rate cutting cycle. It is not going to be 50-100 basis points of rate cuts from the RBI but even 25 to 50 bps will lift sentiment.
Those three positives are holding India. My sense is Sensex at 19000 is a pretty reasonable target for investors over next 7-8 months.
The Sensex ended at 17597.42, up 119.27 points or 0.68 per cent. It touched intraday high of 17664.10 and low of 17570.27.
The National Stock Exchange's Nifty closed at 5358.50, up 40.60 points or 0.76 per cent. The broader index touched a high of 5378.75 and low of 5344.45 in trade today.
"The market might see couple of days of consolidation. You might get a dip to levels of 5300 which could be excellent buying opportunities for people who trade on the Nifty. You have favourable risk reward kind of equation with 5275 acting as a stop loss and possibly 5450 as the target.
Around the 5310-5300 mark on the spot is where I would wait for the Nifty to initiate fresh long positions.
BSE Midcap Index was up 0.95 per cent and BSE Smallcap Index moved up 1.14 per cent.
Amongst the sectoral indices, BSE Capital Goods Index was up 1.65 per cent, BSE Oil&gas Index moved 1.56 per cent higher and BSE Metal Index gained 1.38 per cent. BSE Healthcare Index was down 0.45 per cent and BSE Auto Index edged 0.19 per cent lower.
Jaiprakash Associates (4.66%), Cairn India (3.96%), Hindalco Industries (3.50%), Sesa Goa (3.14%), Sterlite Industries (3.02) and Reliance Industries (1.61%) were the major Nifty gainers.
Dr Reddy's Laboratories (-2.55%), Hero MotoCorp (-2.49%), Maruti Suzuki (-2.26%), TCS (-1.52%) andReliance Power (-1.47%) were the major index losers.
BHEL's provisional net profit for FY12 rose to Rs 6868 crore as compared to Rs 6011 crore a year ago. The company's FY12 turnover climbed to Rs 49301 crore (provisional) as against Rs 43337 crore previous year. The government has decided to put on hold plans to sell a stake in the company, the management said
TCS witnessed profit booking after reports that a US court has granted approval for a class action lawsuit over wage disputes.
Shares of Kingfisher Airlines surged higher as the company's employees including pilots and engineers, who were threatening to go on a strike due to non-payment of dues, decided not to go ahead with their agitation.
Market breadth was positive on the NSE with 904 gainers against 392 losers.
As per the provisional data, foreign institutional investors bought equities worth Rs 245.94 crore on 2 April 2012.
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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