SENSEX
16438.58 +21.74
NIFTY 4990.10 +04.45
USD/INR 0055.54 +00.36
NASDAQ 2851.22 +13.69
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UPDATEDTIME 09.28 PM 29 MAY 2012
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The Nifty ended
a rangebound session in the positive terrain led by gains in technology, realty
and metals stocks as bulls took a breather following the recent upmove. The
market is likely to remain volatile in the coming sessions ahead of Q4 GDP
data and the May F&O series expiry, scheduled for Thursday.
According to Shubhada Rao, Chief Economist at Yes Bank, India's GDP for the quarter ended March 2012 is expected to have grown at 6.2 percent.
"The drag has been industrial growth and there is a risk of a further downward revision in the February numbers as we have seen significant revision in the January numbers also. So clearly the risks are it could well come below 6.2 percent. At this point in time, we are going ahead with 6.2 percent, which takes the annual GDP to about 6.7 percent.
The Nifty ended at 4,990.10, up 4.45 points, or 0.09 percent. It touched an intraday high of 5,020.15 and a low of 4,982.30.
The Sensex closed at 16,438.58, up 21.74 points, or 0.13 percent. It touched an intraday high of 16,544.38 and a low of 16,410.23.
Analysts are of the view that the market may continue with a pullback rally and face resistance near 200-DMA levels.
"We have had a relief rally and people who want to exit long positions have an opportunity to do so at these levels. The rally should prolong to 5,100 levels.
The 200-day average, which many people are talking about, is around 5,070. The index may break down from levels of 5,100. So today's action is just suggesting a pause.
The BSE Midcap Index was down 0.14 percent and the BSE Smallcap Index inched up 0.17 percent.
Among sectoral indices, the BSE IT Index was up 1.19 percent, the BSE Realty Index gained 0.62 percent, the BSE Metal Index moved up 0.35 percent and the BSE Power Index was up 0.30 percent. The BSE FMCG Index declined 0.93 percent and the BSE Healthcare Index slipped 0.30 percent.
HCL Tech (2.63 percent), Cairn India (2.27 percent), Wipro (2.16 percent), Coal India (1.92 percent) and Ranbaxy Laboratories (1.87 percent) were among the top Nifty gainers.
Barclays Equity Research maintained an 'overweight' rating on Coal India after the company announced the results for the March 2012 quarter after market hours yesterday. The company remains the preferred pick in the India metals and mining space, the brokerage added.
ACC (2.44 percent), BPCL (2.26 percent), IDFC (1.93 percent), SAIL (1.61 percent) and Grasim Industries (1.54 percent) were among the major losers.
Foreign institutional investors bought equities worth Rs 108.88 crore on Monday, according to provisional stock exchange data.
The market breadth was positive on the NSE with 757 gainers against 686 losers.
European markets too pared some intraday gains. The CAC 40 was up 0.49 percent and the DAX moved 0.31 percent higher. The FTSE 100 was down 0.11 percent.
According to Shubhada Rao, Chief Economist at Yes Bank, India's GDP for the quarter ended March 2012 is expected to have grown at 6.2 percent.
"The drag has been industrial growth and there is a risk of a further downward revision in the February numbers as we have seen significant revision in the January numbers also. So clearly the risks are it could well come below 6.2 percent. At this point in time, we are going ahead with 6.2 percent, which takes the annual GDP to about 6.7 percent.
The Nifty ended at 4,990.10, up 4.45 points, or 0.09 percent. It touched an intraday high of 5,020.15 and a low of 4,982.30.
The Sensex closed at 16,438.58, up 21.74 points, or 0.13 percent. It touched an intraday high of 16,544.38 and a low of 16,410.23.
Analysts are of the view that the market may continue with a pullback rally and face resistance near 200-DMA levels.
"We have had a relief rally and people who want to exit long positions have an opportunity to do so at these levels. The rally should prolong to 5,100 levels.
The 200-day average, which many people are talking about, is around 5,070. The index may break down from levels of 5,100. So today's action is just suggesting a pause.
The BSE Midcap Index was down 0.14 percent and the BSE Smallcap Index inched up 0.17 percent.
Among sectoral indices, the BSE IT Index was up 1.19 percent, the BSE Realty Index gained 0.62 percent, the BSE Metal Index moved up 0.35 percent and the BSE Power Index was up 0.30 percent. The BSE FMCG Index declined 0.93 percent and the BSE Healthcare Index slipped 0.30 percent.
HCL Tech (2.63 percent), Cairn India (2.27 percent), Wipro (2.16 percent), Coal India (1.92 percent) and Ranbaxy Laboratories (1.87 percent) were among the top Nifty gainers.
Barclays Equity Research maintained an 'overweight' rating on Coal India after the company announced the results for the March 2012 quarter after market hours yesterday. The company remains the preferred pick in the India metals and mining space, the brokerage added.
ACC (2.44 percent), BPCL (2.26 percent), IDFC (1.93 percent), SAIL (1.61 percent) and Grasim Industries (1.54 percent) were among the major losers.
Foreign institutional investors bought equities worth Rs 108.88 crore on Monday, according to provisional stock exchange data.
The market breadth was positive on the NSE with 757 gainers against 686 losers.
European markets too pared some intraday gains. The CAC 40 was up 0.49 percent and the DAX moved 0.31 percent higher. The FTSE 100 was down 0.11 percent.
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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