SENSEX
16918.08 +40.73
NIFTY 5128.20 +10.25
USD/INR 0056.12 +00.15
NASDAQ 2871.33 -18.82
GOLD 29527.00 +79.00
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UPDATEDTIME 09.28 PM 24 JULY 2012
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The Sensex ended
a choppy session on a positive note on Tuesday, led by gains in FMCG, oil &
gas, and healthcare space even as the global markets remained subdued.
According to analysts, the market is expecting reforms from the government as
the Presidential elections are over. However, weak monsoon and European
financial woes may keep the bulls under check.
The Indian Meteorological Department has already raised concerns regarding weak monsoon. It is of the view that monsoon may be less than normal this year. It expects the rainfall to be around 92 per cent of 50-year average.
On the policy front, the government seems to be facing opposition on the issue of diesel and LPG price hike. the diesel price hike seems to be unlikely before the end of the monsoon session of Parliament.
"In the immediate run, we could possibly see some policy action now that the Presidential election is behind us. And if some of these events pan out, then there could be a rally driven by domestic factors. But a possible disappointment on the policy front coupled with a monsoon failure mean we could be driven by global flows and global factors.
The Sensex ended at 16,918.09, up 40.73 points or 0.24 per cent. It touched a high of 16,962.74 and a low of 16,839.70 in trade today.
The 50-share Nifty index closed at 5,128.20, up 10.25 points or 0.20 per cent. It touched a high of 5,144 and a low of 5,103.25 in trade today.
"While the 200-day average will provide stability, there could be a possibility that we might eventually break below that. For somebody trading now, the levels to watch would be 5,100 to about 5,200. A break on either side would possibly give you direction.
The BSE Midcap Index was up 0.16 per cent and the BSE Smallcap Index edged 0.13 per cent higher.
Among the sectoral indices, the BSE FMCG Index gained 1.91 per cent, the BSE Oil & Gas Index rose 0.84 per cent and the BSE Healthcare Index gained 0.36 per cent. The BSE Capital Goods Index was down 1.09 per cent, the BSE IT Index slipped 0.67 per cent and the BSE Auto Index was 0.11 per cent lower.
Hindustan Unilever (7.50%), Sterlite Industries (2.56%), Maruti Suzuki (2.34%), Bharti Airtel (1.42%) andONGC (1.19%) were among the major Sensex gainers.
The Indian Meteorological Department has already raised concerns regarding weak monsoon. It is of the view that monsoon may be less than normal this year. It expects the rainfall to be around 92 per cent of 50-year average.
On the policy front, the government seems to be facing opposition on the issue of diesel and LPG price hike. the diesel price hike seems to be unlikely before the end of the monsoon session of Parliament.
"In the immediate run, we could possibly see some policy action now that the Presidential election is behind us. And if some of these events pan out, then there could be a rally driven by domestic factors. But a possible disappointment on the policy front coupled with a monsoon failure mean we could be driven by global flows and global factors.
The Sensex ended at 16,918.09, up 40.73 points or 0.24 per cent. It touched a high of 16,962.74 and a low of 16,839.70 in trade today.
The 50-share Nifty index closed at 5,128.20, up 10.25 points or 0.20 per cent. It touched a high of 5,144 and a low of 5,103.25 in trade today.
"While the 200-day average will provide stability, there could be a possibility that we might eventually break below that. For somebody trading now, the levels to watch would be 5,100 to about 5,200. A break on either side would possibly give you direction.
The BSE Midcap Index was up 0.16 per cent and the BSE Smallcap Index edged 0.13 per cent higher.
Among the sectoral indices, the BSE FMCG Index gained 1.91 per cent, the BSE Oil & Gas Index rose 0.84 per cent and the BSE Healthcare Index gained 0.36 per cent. The BSE Capital Goods Index was down 1.09 per cent, the BSE IT Index slipped 0.67 per cent and the BSE Auto Index was 0.11 per cent lower.
Hindustan Unilever (7.50%), Sterlite Industries (2.56%), Maruti Suzuki (2.34%), Bharti Airtel (1.42%) andONGC (1.19%) were among the major Sensex gainers.
Shares of Hindustan Lever surged to
an all-time time on huge volumes after the company's net profit more than
doubled on the back of exceptional income of Rs 607 crore from land sale. The
company reported standalone net profit of Rs 1,331 crore for the quarter ended
June 2012, up 112 per cent, against a net profit of Rs 627 crore in the same quarter
last fiscal.
CLSA raised HUL's earning estimates by 3-4 per cent over FY13-14 and rolled over its target multiple (28x) to Jun-14 to derive at a revised target of Rs 485 per share.
Wipro (2.93%), Larsen & Toubro (1.45%), Sun Pharma(1.38%), BHEL (0.96%) and M&M (0.90%) were the major index losers.
Wipro's consolidated net profit rose to Rs 1,580.2 crore for the first quarter ended June 30, 2012, up 18.37 per cent, against a net profit of Rs 1,334.9 crore in the same quarter last fiscal. Total income increased to Rs 10,619.6 crore, up 24.37 per cent, from Rs 8,538.4 crore in the year-ago period.
Market breadth was flat on the NSE with 1,391 gainers against 1,396 losers.
CLSA raised HUL's earning estimates by 3-4 per cent over FY13-14 and rolled over its target multiple (28x) to Jun-14 to derive at a revised target of Rs 485 per share.
Wipro (2.93%), Larsen & Toubro (1.45%), Sun Pharma(1.38%), BHEL (0.96%) and M&M (0.90%) were the major index losers.
Wipro's consolidated net profit rose to Rs 1,580.2 crore for the first quarter ended June 30, 2012, up 18.37 per cent, against a net profit of Rs 1,334.9 crore in the same quarter last fiscal. Total income increased to Rs 10,619.6 crore, up 24.37 per cent, from Rs 8,538.4 crore in the year-ago period.
Market breadth was flat on the NSE with 1,391 gainers against 1,396 losers.
Regards
RAKESH MAKIN
+91, 9041667797(DIRECT),
9915684997
OFF 0172-4657997
PANCHKULA (Haryana).
Email:makin_97@yahoo.com
WISH U ALL
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