SENSEX 15988.40 +23.24
NIFTY 4848.15 +06.55
USD/INR 0055.65 +00.10
NASDAQ 2740.54 -06.94
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UPDATEDTIME 09.28 PM 04 JUNE 2012
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The Sensex snapped
its losing streak and closed in the positive terrain led by gains in capital
goods, realty banks and oil & gas stocks after bouncing back from nearly
five-month lows.
Comments from Subir Gokarn, Deputy Governor,Reserve Bank of India, that the central bank has some elbow room to reduce policy rates following moderate core inflation and soft global oil prices seem to have provided support to the markets, dealers said.
"With GDP growing at such a slow rate, the expectation is that there will be monetary easing in the next couple of months and there's hope that interest rates will come off over the second or third quarter of this year and, consequently, there should be some boost to the corporate sector.
So, the outlook in terms of valuations on a broad market is fairly reasonable. From a long-term perspective, it is a good time to begin accumulating stocks, but with a caveat that there will certainly be weakness for a month or so.
The Nifty ended at 4,848.15, up 06.55 points, or 0.31 percent. The 50-share index touched an intraday high of 4,858.30 and a low of 4,770.35.
The Sensex closed at 15988.40, up 23.24 points, or 0.26 percent. The 30-share index touched an intraday high of 16,007.34 and a low of 15,748.98.
The market is likely to remain volatile for the fortnight ahead of Greece election results and the RBI's policy meet. Technically, 4,750 is an important level for the Nifty and if the index holds on it some short covering can be expected, according to analysts.
For the current month, we expect the market to remain volatile ahead of major outcomes such as the Greece elections and the RBI policy meet. In case the market survives at previous lows 4,750/4,730, it will attract hefty short covering in the second half of the month. However, if it breaks 4,730, then 4,600 is possible and it may retest 4,530.
On the higher side 5,150/5,200 will remain crucial level for bears above those bulls will take a grip on the market.
The BSE Midcap Index was down 0.14 percent and the BSE Smallcap Index slipped 0.15 percent.
Among sectoral indices, the BSE Capital Goods Index rallied 2.08 percent, the BSE Realty Index was up 1.35 percent, the BSE Oil & Gas Index moved 1.17 percent higher and the BSE Bankex gained 1.10 percent.
Comments from Subir Gokarn, Deputy Governor,Reserve Bank of India, that the central bank has some elbow room to reduce policy rates following moderate core inflation and soft global oil prices seem to have provided support to the markets, dealers said.
"With GDP growing at such a slow rate, the expectation is that there will be monetary easing in the next couple of months and there's hope that interest rates will come off over the second or third quarter of this year and, consequently, there should be some boost to the corporate sector.
So, the outlook in terms of valuations on a broad market is fairly reasonable. From a long-term perspective, it is a good time to begin accumulating stocks, but with a caveat that there will certainly be weakness for a month or so.
The Nifty ended at 4,848.15, up 06.55 points, or 0.31 percent. The 50-share index touched an intraday high of 4,858.30 and a low of 4,770.35.
The Sensex closed at 15988.40, up 23.24 points, or 0.26 percent. The 30-share index touched an intraday high of 16,007.34 and a low of 15,748.98.
The market is likely to remain volatile for the fortnight ahead of Greece election results and the RBI's policy meet. Technically, 4,750 is an important level for the Nifty and if the index holds on it some short covering can be expected, according to analysts.
For the current month, we expect the market to remain volatile ahead of major outcomes such as the Greece elections and the RBI policy meet. In case the market survives at previous lows 4,750/4,730, it will attract hefty short covering in the second half of the month. However, if it breaks 4,730, then 4,600 is possible and it may retest 4,530.
On the higher side 5,150/5,200 will remain crucial level for bears above those bulls will take a grip on the market.
The BSE Midcap Index was down 0.14 percent and the BSE Smallcap Index slipped 0.15 percent.
Among sectoral indices, the BSE Capital Goods Index rallied 2.08 percent, the BSE Realty Index was up 1.35 percent, the BSE Oil & Gas Index moved 1.17 percent higher and the BSE Bankex gained 1.10 percent.
Larsen & Toubro (3.43 percent),
ONGC (3.19 percent),DLF (1.97 percent), Tata Motors (1.89
percent) andReliance Industries (1.31 percent) were among the major Sensex
gainers.
GAIL (3.47 percent), Jindal Steel (2.72 percent), Tata Power (2.49 percent), Bharti Airtel (2.31 percent) andSterlite Industries (2.30 percent) were among the decliners.
US private equity firm Warburg Pincus bought a majority holding in financial services firm Future Capital Holdings. Pantaloon, which was earlier controlled by Future Capital, sold a 40 percent stake to Warburg for Rs 162 per share.
The market breadth was negative on the BSE with 1,204 gainers against 1,449 losers.
GAIL (3.47 percent), Jindal Steel (2.72 percent), Tata Power (2.49 percent), Bharti Airtel (2.31 percent) andSterlite Industries (2.30 percent) were among the decliners.
US private equity firm Warburg Pincus bought a majority holding in financial services firm Future Capital Holdings. Pantaloon, which was earlier controlled by Future Capital, sold a 40 percent stake to Warburg for Rs 162 per share.
The market breadth was negative on the BSE with 1,204 gainers against 1,449 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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