SENSEX
16020.64 +32.24
NIFTY 4863.30 +15.15
USD/INR 0055.65 +00.10
NASDAQ 2762.10 +02.09
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UPDATEDTIME 09.28 PM 05 JUNE 2012
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The Nifty closed
in the positive terrain after shedding most of the intraday gains as traders
booked profits near the higher end of the narrow trading range following
weakness in the rupee against the dollar. Capital goods, banking and power
stocks led the gainers on hopes of an interest rate cut by the Reserve Bank of
India.
The Sensex ended at 16,020.64, up 32.24 points, or 0.20 percent. It touched an intraday high of 16,138.29 and a low of 15,979.77.
The Nifty closed at 4,863.30, up 15.15 points, or 0.31 percent. It touched an intraday high of 4,898.95 and a low of 4,847.70.
According to analysts, Indian markets are likely to remain choppy and take cues from global peers until the Greece elections are over.
The major market-moving event in the short term is the Greece election. Until then, risk aversion may prevail in global equities. However, we note that risk-reward ratio is turning favourable for equities.
Current valuations at 12.5-13x are at a discount to the median range of 15x one year forward earnings. Amidst the gloom, there is a silver lining in terms of softening of crude prices," a Kotak Securities report stated.
Kaushik Basu, Chief Economic Advisor to the Ministry of Finance, said the Indian economy will pull back in FY13. He expects GDP to grow at 7.6 percent.
The index will be rangebound between 4,780-4,800 and 4,900-4,950. Shorting around the 4,900 mark could pay off dividends because weekly charts are still on the negative side. A downtrend might resume once this consolidation is over in the next few days.
While we are not aggressively short, the bias is still to sell on the higher side around the 4,900 mark. In case that is breached, 4,950 is the next level. The immediate outlook is that we might do a range of about 150 points for the next 3 to 4 sessions.
The BSE Midcap Index was up 0.33 percent and the BSE Smallcap Index moved 0.21 percent higher.
The BSE Capital Goods Index was up 2 percent, the BSE Bankex moved up 0.82 percent and the BSE Power Index gained 0.80 percent. The BSE Realty Index was down 1.37 percent, the BSE FMCG Index declined 1.09 percent and the BSE Metal Index slipped 0.27 percent.
Larsen & Toubro (2.94 percent), Grasim (2.72 percent), Reliance Infrastructure (2.71 percent), IDFC (2.57 percent) and Cairn India (2.33 percent) were the top Nifty gainers.
Ambuja Cement (3.29 percent), Tata Motors (3.17 percent), Siemens (2.64 percent), Bharti Airtel (2.31 percent) and ITC (2.22 percent) were the top Losers .
Oil prices slid further on demand worries following poor economic data from the eurozone. Brent crude for July delivery was at $98.17 per barrel, down 68 cents, against its previous close.
The rupee remained volatile for the day before closing at 55.64 per dollar, up 2 paise, against its previous close of 55.66.
Foreign institutional investors sold equities worth Rs 637.14 crore on Monday, according to provisional stock exchange data.
The Sensex ended at 16,020.64, up 32.24 points, or 0.20 percent. It touched an intraday high of 16,138.29 and a low of 15,979.77.
The Nifty closed at 4,863.30, up 15.15 points, or 0.31 percent. It touched an intraday high of 4,898.95 and a low of 4,847.70.
According to analysts, Indian markets are likely to remain choppy and take cues from global peers until the Greece elections are over.
The major market-moving event in the short term is the Greece election. Until then, risk aversion may prevail in global equities. However, we note that risk-reward ratio is turning favourable for equities.
Current valuations at 12.5-13x are at a discount to the median range of 15x one year forward earnings. Amidst the gloom, there is a silver lining in terms of softening of crude prices," a Kotak Securities report stated.
Kaushik Basu, Chief Economic Advisor to the Ministry of Finance, said the Indian economy will pull back in FY13. He expects GDP to grow at 7.6 percent.
The index will be rangebound between 4,780-4,800 and 4,900-4,950. Shorting around the 4,900 mark could pay off dividends because weekly charts are still on the negative side. A downtrend might resume once this consolidation is over in the next few days.
While we are not aggressively short, the bias is still to sell on the higher side around the 4,900 mark. In case that is breached, 4,950 is the next level. The immediate outlook is that we might do a range of about 150 points for the next 3 to 4 sessions.
The BSE Midcap Index was up 0.33 percent and the BSE Smallcap Index moved 0.21 percent higher.
The BSE Capital Goods Index was up 2 percent, the BSE Bankex moved up 0.82 percent and the BSE Power Index gained 0.80 percent. The BSE Realty Index was down 1.37 percent, the BSE FMCG Index declined 1.09 percent and the BSE Metal Index slipped 0.27 percent.
Larsen & Toubro (2.94 percent), Grasim (2.72 percent), Reliance Infrastructure (2.71 percent), IDFC (2.57 percent) and Cairn India (2.33 percent) were the top Nifty gainers.
Ambuja Cement (3.29 percent), Tata Motors (3.17 percent), Siemens (2.64 percent), Bharti Airtel (2.31 percent) and ITC (2.22 percent) were the top Losers .
Oil prices slid further on demand worries following poor economic data from the eurozone. Brent crude for July delivery was at $98.17 per barrel, down 68 cents, against its previous close.
The rupee remained volatile for the day before closing at 55.64 per dollar, up 2 paise, against its previous close of 55.66.
Foreign institutional investors sold equities worth Rs 637.14 crore on Monday, according to provisional stock exchange data.
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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