SENSEX
16416.84 +199.02
NIFTY 4985.65 +65.25
USD/INR
0055.19 -00.12
NASDAQ 2837.53 -01.85
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UPDATEDTIME 09.28 PM 28 MAY 2012
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The Sensex rallied
in the last hour of trade and closed firmly in the positive terrain as
sentiment turned bullish across global markets after opinion polls in Greece
suggested a pro-bailout government could be formed after the June elections.
The rupee also strengthened against the dollar providing support to the bulls.
The Sensex was at 16,416.84, up 199.02 points, or 1.23 percent. It touched an intraday high of 16,439.97 and a low of 16,273.49 today.
The Nifty ended at 4,985.65, up 65.25 points, or 1.33 percent. It touched an intraday high of 4,994.95 and a low of 4,931.30 today.
The rupee has been the most worrying factor for institutional investors and they expect the government to take some tough measures to improve market sentiment, analysts say.
"The rupee is the most worrisome factor in the mind of foreign investors. Most of the regional currencies have depreciated against the dollar but the depreciation in the rupee has been particularly sharp. Investors are looking for some measures from the government to stop this vicious cycle in the economy.
The rupee gained after the government announced the much-expected fuel price hike, he added.
"One wants to see some measures on the diesel price increase. The government should show some firm commitment to keeping the deficit in check. It should also take up some measures on the auctioning of coal blocks, etc., which can rekindle the investment climate.
However, Oil Minister Jaipal Reddy today said the government is not looking to hike prices of diesel, LPG or kerosene.
We are probably getting into the second phase of the rally, so try to get into dips. You will keep getting dips as some thing might happen in Greece or domestically something will go wrong. The idea is to buy on dips as opposed to the 15-day-ago view to keeping selling in rallies.
The BSE Midcap Index was up 1.21 percent and the BSE Smallcap Index gained 0.87 percent higher.
Among sectoral indices, the BSE Bankex was up 2.42 percent, the BSE Power Index gained 2.33 percent, the BSE Capital Goods Index moved up 1.85 percent and the BSE Auto Index was up 1.74 percent.
SBI (4.76 percent), BHEL (4.17 percent), Tata Power (3.81 percent), Hindalco Industries (2.82 percent) andTata Motors (2.69 percent) were among the top Nifty gainers.
GAIL (2.62 percent), ONGC (1.26 percent), Maruti Suzuki (1.20 percent), Hindustan Unilever (0.82 percent) and Jindal Steel (0.50 percent) were among the Nifty decliners.
The market breadth was positive on the BSE with 1,714 gainers against 1,008 losers.
The Sensex was at 16,416.84, up 199.02 points, or 1.23 percent. It touched an intraday high of 16,439.97 and a low of 16,273.49 today.
The Nifty ended at 4,985.65, up 65.25 points, or 1.33 percent. It touched an intraday high of 4,994.95 and a low of 4,931.30 today.
The rupee has been the most worrying factor for institutional investors and they expect the government to take some tough measures to improve market sentiment, analysts say.
"The rupee is the most worrisome factor in the mind of foreign investors. Most of the regional currencies have depreciated against the dollar but the depreciation in the rupee has been particularly sharp. Investors are looking for some measures from the government to stop this vicious cycle in the economy.
The rupee gained after the government announced the much-expected fuel price hike, he added.
"One wants to see some measures on the diesel price increase. The government should show some firm commitment to keeping the deficit in check. It should also take up some measures on the auctioning of coal blocks, etc., which can rekindle the investment climate.
However, Oil Minister Jaipal Reddy today said the government is not looking to hike prices of diesel, LPG or kerosene.
We are probably getting into the second phase of the rally, so try to get into dips. You will keep getting dips as some thing might happen in Greece or domestically something will go wrong. The idea is to buy on dips as opposed to the 15-day-ago view to keeping selling in rallies.
The BSE Midcap Index was up 1.21 percent and the BSE Smallcap Index gained 0.87 percent higher.
Among sectoral indices, the BSE Bankex was up 2.42 percent, the BSE Power Index gained 2.33 percent, the BSE Capital Goods Index moved up 1.85 percent and the BSE Auto Index was up 1.74 percent.
SBI (4.76 percent), BHEL (4.17 percent), Tata Power (3.81 percent), Hindalco Industries (2.82 percent) andTata Motors (2.69 percent) were among the top Nifty gainers.
GAIL (2.62 percent), ONGC (1.26 percent), Maruti Suzuki (1.20 percent), Hindustan Unilever (0.82 percent) and Jindal Steel (0.50 percent) were among the Nifty decliners.
The market breadth was positive on the BSE with 1,714 gainers against 1,008 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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