SENSEX
17185.01 +79.71
NIFTY 5216.30 +23.45
USD/INR 0055.28 +00.23
NASDAQ 2941.29 +31.25
GOLD 29217.00 -72.00
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UPDATEDTIME 09.28 PM 18 JULY 2012
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The Sensex staged
a comeback in the second half and closed a rangebound session in the green on
the back of positive cues from European peers. The upmove was supported by
gains in metals, capital goods, realty and auto sectors. Traders expect some
market-friendly reforms from the government post the presidential elections,
dealers say.
"I do not have many hopes on what will translate from the promises given. So the overpowering factor that I would look for from a market standpoint is what happens globally.
The support that came from multiple announcements in Europe and certain actions by central banks is decreasing. So broadly, the rally that we have seen might actually start flagging off and that will have a repercussion on the Indian markets as well.
Domestic announcement is something that I would not give a lot of weightage to at this juncture.
The 30-share BSE index ended at 17,185.01, up 79.71 points or 0.47 percent. It touched a high of 17,205.26 and a low of 17,038.59 in trade today.
A Reuters report said this was the Sensex's biggest single-day percentage gain since July 10.
The Nifty closed at 5,216.30, up 23.45 points or 0.45 percent. It touched a high of 5,222.85 and a low of 5,169.05 in trade today.
"Some more upside to the tune of 30-40 points on the Nifty is expected and the weakness will be only below 5,160-5,150. So expect range bound trade with a positive bias at this point in time.
The BSE Midcap Index was up 0.53 percent and the BSE Small cap Index moved 0.29 percent higher.
The BSE Metal Index was up 1.48 percent, the BSE Capital Goods Index gained 1.07 percent, the BSE Realty Index moved 0.93 percent higher and the BSE Auto Index advanced 0.59 percent. The BSE Oil & Gas Index and the BSE Healthcare Index declined 0.22 percent each.
Bajaj Auto (5.20 percent), Tata Power (2.71 percent), Jindal Steel (2.67 percent), Sterlite Industries (2.43 percent) and Maruti Suzuki (2.31 percent) were among the major Sensex gainers.
Bajaj Auto reported a net profit of Rs 718 crore for quarter ended June 2012, up 1 percent YoY from Rs 711 crore. The net profit is in line with ET Now estimates of Rs 720 crore. Total revenues for the June quarter rose to Rs 4,866 crore, up 1.9 percent YoY from Rs 4,777 crore.
Bajaj Auto has been holding above the crucial mark of Rs 1,405 to form a higher bottom and evidence of today's bullish piercing line pattern adds to the significance of the level being a strong support.
Price movement has reached to a lower extreme on a statistical chart and is quoting near to a negative 2 standard deviation. The odds are high for a rebound from the current level and the risk/reward is favorable.
A buy trade can be initiated in the range of Rs 1,450-1,470, for a short-term target of Rs 1,580-1,650 and a stop below Rs 1,400.
Tata Motors (1.93 percent), Dr Reddy's Laboratories (1.85 percent), NTPC (0.79 percent), SBI (0.59 percent) and Cipla (0.56 percent) were among the major losers.
The market breadth was negative on the BSE with 1,404 gainers against 1,374 losers.
Foreign institutional investors bought equities worth Rs 474.95 crore on Tuesday, as per provisional data from the NSE.
"I do not have many hopes on what will translate from the promises given. So the overpowering factor that I would look for from a market standpoint is what happens globally.
The support that came from multiple announcements in Europe and certain actions by central banks is decreasing. So broadly, the rally that we have seen might actually start flagging off and that will have a repercussion on the Indian markets as well.
Domestic announcement is something that I would not give a lot of weightage to at this juncture.
The 30-share BSE index ended at 17,185.01, up 79.71 points or 0.47 percent. It touched a high of 17,205.26 and a low of 17,038.59 in trade today.
A Reuters report said this was the Sensex's biggest single-day percentage gain since July 10.
The Nifty closed at 5,216.30, up 23.45 points or 0.45 percent. It touched a high of 5,222.85 and a low of 5,169.05 in trade today.
"Some more upside to the tune of 30-40 points on the Nifty is expected and the weakness will be only below 5,160-5,150. So expect range bound trade with a positive bias at this point in time.
The BSE Midcap Index was up 0.53 percent and the BSE Small cap Index moved 0.29 percent higher.
The BSE Metal Index was up 1.48 percent, the BSE Capital Goods Index gained 1.07 percent, the BSE Realty Index moved 0.93 percent higher and the BSE Auto Index advanced 0.59 percent. The BSE Oil & Gas Index and the BSE Healthcare Index declined 0.22 percent each.
Bajaj Auto (5.20 percent), Tata Power (2.71 percent), Jindal Steel (2.67 percent), Sterlite Industries (2.43 percent) and Maruti Suzuki (2.31 percent) were among the major Sensex gainers.
Bajaj Auto reported a net profit of Rs 718 crore for quarter ended June 2012, up 1 percent YoY from Rs 711 crore. The net profit is in line with ET Now estimates of Rs 720 crore. Total revenues for the June quarter rose to Rs 4,866 crore, up 1.9 percent YoY from Rs 4,777 crore.
Bajaj Auto has been holding above the crucial mark of Rs 1,405 to form a higher bottom and evidence of today's bullish piercing line pattern adds to the significance of the level being a strong support.
Price movement has reached to a lower extreme on a statistical chart and is quoting near to a negative 2 standard deviation. The odds are high for a rebound from the current level and the risk/reward is favorable.
A buy trade can be initiated in the range of Rs 1,450-1,470, for a short-term target of Rs 1,580-1,650 and a stop below Rs 1,400.
Tata Motors (1.93 percent), Dr Reddy's Laboratories (1.85 percent), NTPC (0.79 percent), SBI (0.59 percent) and Cipla (0.56 percent) were among the major losers.
The market breadth was negative on the BSE with 1,404 gainers against 1,374 losers.
Foreign institutional investors bought equities worth Rs 474.95 crore on Tuesday, as per provisional data from the NSE.
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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