SENSEX
16718.87 +69.82
NIFTY 5068.35 +18.70
USD/INR 0055.61 +00.67
NASDAQ 2841.18 +10.16
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UPDATEDTIME 09.28 PM 08 JUNE 2012
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The Sensex stayed
firm on the back of positive cues from global peers and on hopes of a rate cut
by the Reserve Bank of India. The gains were led by rate-sensitive stocks like
realty and banking.
Shares of Reliance Industries were up over 1 percent after its 38th annual general meeting.
Sensex was at 16718.87, up 69.82 points, or 0.98 percent. It has touched a high of 16,621.32 and a low of 16,519.89 today.
The Nifty was at 5,068.35, up 18.70 points, or 0.84 percent. It has touched a high of 5,042.60 and a low of 5,007.75 today.
Mukesh Ambani, Chairman & Managing Director at Reliance Industries, told shareholders at the company's 38th AGM that volatile crude prices and subdued margin outlook for products deterred profit growth. The company will continue to reinvest cash flow in new projects to boost earnings, he added.
RIL has bought 27.9 million shares so far for Rs 1,925 crore.
The momentum in the 14-hour RSI and MACD (12/26/9) is still positive and would be supportive for further gains towards resistance at 5,020 and the 200-day SMA near 5,064 in the coming 1-2 sessions.
On the lower side, support is seen near 4,954/4,936 to keep the current positive tone intact. The momentum in short-term oscillators. The 200-day SMA and channel (5,064/5,100) will pose strong resistance going forward.
Only if prices manage to sustain above it for a couple of days can the current rally spill over into an intermediate-term recovery towards 5,300 and higher. The failure to do so will again push the prices back towards the recent lows of 4,800," an Aditya Birla Money report noted.
The BSE Midcap Index and the BSE Smallcap Index were up 0.21 percent each.
Among sectoral indices, the BSE Realty Index was up 1.02 percent, the BSE Bankex gained 0.92 percent, the BSE Oil & Gas Index advanced 0.78 percent and the BSE Metal Index moved 0.74 percent higher.
Sterlite Industries (2.30 percent), Hero MotoCorp (1.96 percent), Infosys Technologies (1.87 percent), DLF(1.81 percent), HDFC Bank (1.80 percent) and Reliance Industries (1.29 percent) are among the top Sensex gainers.
Wipro (1.62 percent), TCS (1.22 percent), M&M (0.83 percent), Hindalco Industries (0.75 percent) and ITC(0.66 percent) are among the Losers.
The rupee strengthened against the dollar on the back of gains in the stockmarkets. The partially convertible currency was at 55.14, up 21 paise against its previous close.
Brent crude rose above $100 per barrel on concerns of a drop in US stockpiles and on hopes of stimulus by global banks.
Foreign institutional investors bought equities worth Rs 269.21 crore on Wednesday, according to provisional data.
Asian markets were up on buying. The Nikkei 225 rallied 1.24 percent, the Hang Seng gained 0.90 percent, the Kospi moved 2.56 percent higher and the Taiwan Weighted was 0.34 percent higher.
Shares of Reliance Industries were up over 1 percent after its 38th annual general meeting.
Sensex was at 16718.87, up 69.82 points, or 0.98 percent. It has touched a high of 16,621.32 and a low of 16,519.89 today.
The Nifty was at 5,068.35, up 18.70 points, or 0.84 percent. It has touched a high of 5,042.60 and a low of 5,007.75 today.
Mukesh Ambani, Chairman & Managing Director at Reliance Industries, told shareholders at the company's 38th AGM that volatile crude prices and subdued margin outlook for products deterred profit growth. The company will continue to reinvest cash flow in new projects to boost earnings, he added.
RIL has bought 27.9 million shares so far for Rs 1,925 crore.
The momentum in the 14-hour RSI and MACD (12/26/9) is still positive and would be supportive for further gains towards resistance at 5,020 and the 200-day SMA near 5,064 in the coming 1-2 sessions.
On the lower side, support is seen near 4,954/4,936 to keep the current positive tone intact. The momentum in short-term oscillators. The 200-day SMA and channel (5,064/5,100) will pose strong resistance going forward.
Only if prices manage to sustain above it for a couple of days can the current rally spill over into an intermediate-term recovery towards 5,300 and higher. The failure to do so will again push the prices back towards the recent lows of 4,800," an Aditya Birla Money report noted.
The BSE Midcap Index and the BSE Smallcap Index were up 0.21 percent each.
Among sectoral indices, the BSE Realty Index was up 1.02 percent, the BSE Bankex gained 0.92 percent, the BSE Oil & Gas Index advanced 0.78 percent and the BSE Metal Index moved 0.74 percent higher.
Sterlite Industries (2.30 percent), Hero MotoCorp (1.96 percent), Infosys Technologies (1.87 percent), DLF(1.81 percent), HDFC Bank (1.80 percent) and Reliance Industries (1.29 percent) are among the top Sensex gainers.
Wipro (1.62 percent), TCS (1.22 percent), M&M (0.83 percent), Hindalco Industries (0.75 percent) and ITC(0.66 percent) are among the Losers.
The rupee strengthened against the dollar on the back of gains in the stockmarkets. The partially convertible currency was at 55.14, up 21 paise against its previous close.
Brent crude rose above $100 per barrel on concerns of a drop in US stockpiles and on hopes of stimulus by global banks.
Foreign institutional investors bought equities worth Rs 269.21 crore on Wednesday, according to provisional data.
Asian markets were up on buying. The Nikkei 225 rallied 1.24 percent, the Hang Seng gained 0.90 percent, the Kospi moved 2.56 percent higher and the Taiwan Weighted was 0.34 percent higher.
Regards
RAKESH MAKIN
+91, 9041667797(DIRECT),
9915684997
OFF 0172-4657997
PANCHKULA (Haryana).
Email:makin_97@yahoo.com
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