SENSEX
17429.98 +439.22
NIFTY 5278.90 +129.75
USD/INR 0057.15 +00.15
NASDAQ 2854.06 +17.90
GOLD 29705.00 +53.00
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UPDATEDTIME 09.28 PM 29 JUNE 2012
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Stock
markets closed today with the biggest single-day gain of 439 points in 2012 as
investors, richer by Rs 1.17 lakh crore, cheered clarity on tax-avoidance
rules and upbeat global market sentiments.
Sensex, which rose for the fourth straight day, opened with a 144-point with the Finance Ministry announcing the draft GAAR guidelines late last night.
Sentiments improved further as foreign inflows poured in after global investment bank Morgan Stanley upgraded India markets to "equal-weight" from the long-standing "under-weight" status.
The bullish sentiment was further supported by news that meeting of EU leaders have come up with a plan for a single financial supervisory mechanism for the debt-ridden region.
The BSE benchmark index settled at 17,429.98 - a level last seen in April 19 -- higher by 439.22 points or 2.59 per cent. The gauge surpassed its previous biggest single-day gain of 434 points on June 6.
As many as 29 out of the 30-share Sensex ended higher with gains led by Jindal Steel that rose 8.74 per cent, followed by Tata Power,ICICI Bank, Bhel and Sterlite which rose in the 5-6 per cent range.
In the broader market, nearly 1,870 stocks rose with investor wealth going up from Rs 60.35 lakh crore to Rs 61.52 lakh crore.
The 50-share National Stock Exchange index Nifty spurted by 129.75 points, or 2.52 per cent to 5,278.90 on fund-based buying in capital goods, power and banking stocks.
The Sensex has gained nearly 550 points in the last four days coinciding with Prime Minister Manmohan Singh himself taking over charge of Finance portfolio and signalling speedy revival of the slowing economic growth.
Meanwhile, the rupee rebounded by 91 paise to trade at 55.89 against the US dollar on hopes that the government steps will check the currency's slide, also aiding market sentiment.
Sensex, which rose for the fourth straight day, opened with a 144-point with the Finance Ministry announcing the draft GAAR guidelines late last night.
Sentiments improved further as foreign inflows poured in after global investment bank Morgan Stanley upgraded India markets to "equal-weight" from the long-standing "under-weight" status.
The bullish sentiment was further supported by news that meeting of EU leaders have come up with a plan for a single financial supervisory mechanism for the debt-ridden region.
The BSE benchmark index settled at 17,429.98 - a level last seen in April 19 -- higher by 439.22 points or 2.59 per cent. The gauge surpassed its previous biggest single-day gain of 434 points on June 6.
As many as 29 out of the 30-share Sensex ended higher with gains led by Jindal Steel that rose 8.74 per cent, followed by Tata Power,ICICI Bank, Bhel and Sterlite which rose in the 5-6 per cent range.
In the broader market, nearly 1,870 stocks rose with investor wealth going up from Rs 60.35 lakh crore to Rs 61.52 lakh crore.
The 50-share National Stock Exchange index Nifty spurted by 129.75 points, or 2.52 per cent to 5,278.90 on fund-based buying in capital goods, power and banking stocks.
The Sensex has gained nearly 550 points in the last four days coinciding with Prime Minister Manmohan Singh himself taking over charge of Finance portfolio and signalling speedy revival of the slowing economic growth.
Meanwhile, the rupee rebounded by 91 paise to trade at 55.89 against the US dollar on hopes that the government steps will check the currency's slide, also aiding market sentiment.
Today, banking stocks are in vogue
on hopes of a rate/CRR cut by the RBI as RBI Deputy Governor K C Chakrabarty
said monetary policy will ease once inflation came down.
The Bank Nifty can trade between 9,950 and 10,700 in the coming weeks while traders should be careful at higher levels as markets may see some downmove on Monday ahead of auto sales numbers and earnings season which will kickstart in the second week of July.
The BSE Realty Index rose 2.4 percent, the BSE FMCG Index advanced 2.04 percent and the BSE Auto Index was up 1.8 percent.
The Bank Nifty can trade between 9,950 and 10,700 in the coming weeks while traders should be careful at higher levels as markets may see some downmove on Monday ahead of auto sales numbers and earnings season which will kickstart in the second week of July.
The BSE Realty Index rose 2.4 percent, the BSE FMCG Index advanced 2.04 percent and the BSE Auto Index was up 1.8 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
