SENSEX
17462.81 +37.10
NIFTY 5302.55 +14.60
USD/INR 0054.75 +00.45
NASDAQ 2976.08 +24.85
GOLD 29563.00 +90.00
|
UPDATEDTIME 09.28 PM 04 JULY 2012
|
The Nifty ended
a lackluster session on a positive note above 5,300, its highest closing since
Apil 19, led by gains in metal metals, realty and capital goods sectors.
Shares of Sterlite Industries and Sesa Goa were the major index gainers after reports that the Karnataka government has recommended approval of 8 iron ore mines and approved Sesa Goa's 2.2 million tonne iron ore mine.
The benchmarks have run-out of steam after a sharp rally last week and are consolidating in a narrow range while the broader markets are catching up. According to analysts, the market is likely to pick up momentum and move higher in the medium term. Investors should start investing in phases at current levels.
"Looking at it over 6-month type of period, we believe that we are coming closer to the end of the volatility on the downside. I believe that even the rupee will begin to appreciate and this will also give some respite to the inflation.
Interest rates should also come off over the next few months. So these factors may just bring back positive triggers. It is a good time to start investing. However it is not the time to put all your money at one go; invest in phases. I would always prefer buying a little bit on dips rather than on rises and building up portfolio in the next 3 to 6 months," said Anil Rego, Founder & CEO, Right Horizons.
The 50-share index closed at 5,302.55, up 14.60 points or 0.28 per cent. It has touched a high of 5,317.65 and a low of 5,273.30 today.
The Sensex ended at 17,462.81, up 37.10 points or 0.21 per cent. It has touched a high of 17,523.77 and a low of 17,372.45 today.
Looking at the way things are happening and the monsoons also seems to be picking up we believe that we could probably go up to 17900-18000 levels in the coming weeks. So we have changed our view on the market and we believe there is lot of value in the broader market.
The BSE Midcap Index was up 0.87 per cent and the BSE Smallcap Index moved 0.88 per cent higher.
Among the sectoral indices, the BSE Metal Index was up 2.12 per cent, the BSE Realty Index gained 1.91 per cent and the BSE Capital Goods Index moved 0.63 per cent higher. The BSE Oil & Gas Index declined 0.56 per cent and the BSE FMCG Index was 0.47 per cent lower.
Shares of Sterlite Industries and Sesa Goa were the major index gainers after reports that the Karnataka government has recommended approval of 8 iron ore mines and approved Sesa Goa's 2.2 million tonne iron ore mine.
The benchmarks have run-out of steam after a sharp rally last week and are consolidating in a narrow range while the broader markets are catching up. According to analysts, the market is likely to pick up momentum and move higher in the medium term. Investors should start investing in phases at current levels.
"Looking at it over 6-month type of period, we believe that we are coming closer to the end of the volatility on the downside. I believe that even the rupee will begin to appreciate and this will also give some respite to the inflation.
Interest rates should also come off over the next few months. So these factors may just bring back positive triggers. It is a good time to start investing. However it is not the time to put all your money at one go; invest in phases. I would always prefer buying a little bit on dips rather than on rises and building up portfolio in the next 3 to 6 months," said Anil Rego, Founder & CEO, Right Horizons.
The 50-share index closed at 5,302.55, up 14.60 points or 0.28 per cent. It has touched a high of 5,317.65 and a low of 5,273.30 today.
The Sensex ended at 17,462.81, up 37.10 points or 0.21 per cent. It has touched a high of 17,523.77 and a low of 17,372.45 today.
Looking at the way things are happening and the monsoons also seems to be picking up we believe that we could probably go up to 17900-18000 levels in the coming weeks. So we have changed our view on the market and we believe there is lot of value in the broader market.
The BSE Midcap Index was up 0.87 per cent and the BSE Smallcap Index moved 0.88 per cent higher.
Among the sectoral indices, the BSE Metal Index was up 2.12 per cent, the BSE Realty Index gained 1.91 per cent and the BSE Capital Goods Index moved 0.63 per cent higher. The BSE Oil & Gas Index declined 0.56 per cent and the BSE FMCG Index was 0.47 per cent lower.
Shares of mining companies moved up on expectations that the ban on mining iron ore may be lifted by the month-end. The Supreme Court, a year ago, had imposed a ban on mining activities in Karnataka on environmental concerns. The Sesa-Sterlite duo got shot in the arms after reports of Karnataka government approval for Sesa Goa to start mining.
It is a major positive for Sesa Goa as their operations were completely shut in Karnataka.
Shares of rate sensitive sectors have been moving higher on expectations of interest rate cut following sharp correction in international crude oil prices and as the rupee strengthened against the US dollar.
The brent crude oil prices moved higher in the last few sessions and were hovering at $100 per barrel on concerns of political uneasiness in the middle east. Meanwhile, the rupee ended at 54.48 per dollar against previous close of 54.38 following weakness in global currencies against the dollar.
Sterlite
Industries (5.45%), Sesa Goa (3.92%), Jindal Steel (3.69%), Jaiprakash
Associates (3.27%) andBharti Airtel (2.59%) led the Nifty gainers .
ONGC (2.24%),
Asian Paints (1.86%), Dr Reddy's Laboratories (1.71%), Kotak Bank (1.37%)
and Wipro (1.35%) were among the major losers.
Shares of Onmobile Global surged higher on the back of short coverings after HDFC Mutual Fund and Goldman Sachs bought 7 lakh shares and 12 lakh shares respectively in block deals from the open market transactions recently.
Market breadth was positive on the NSE with 957 gainers against 525 losers.
Shares of Onmobile Global surged higher on the back of short coverings after HDFC Mutual Fund and Goldman Sachs bought 7 lakh shares and 12 lakh shares respectively in block deals from the open market transactions recently.
Market breadth was positive on the NSE with 957 gainers against 525 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
No comments:
Post a Comment