SENSEX
16839.19 +199.37
NIFTY 5099.85 +56.85
USD/INR 0055.23 -00.29
NASDAQ 2926.76 +33.51
GOLD 29780.00 -13.00
|
UPDATEDTIME 09.28 PM 27 JULY 2012
|
The Nifty shed
some of the intraday gains and closed near the psychological level of 5,100 on
Friday in absence of supportive cues from the European peers. The market is
likely to remain range-bound with stock-specific actions in the near term.
The 50-share Nifty index closed at 5,099.85, up 56.85 points or 1.13 per cent. The broader index touched a high of 5,149.95 and a low of 5,077.50 in trade today.
The Sensex ended at 16,839.19, up 199.37 points or 1.20 per cent. It touched a high of 16,975.03 and a low of 16,760.72 in trade today.
The Reserve Bank of India's policy meet early next week will be keenly eyed, say dealers. Analysts are of the view that the RBI is likely to keep rates unchanged as inflation remains above the comfort zone.
The Reserve Bank of India will likely maintain an unchanged policy stance in the next week's policy meeting. Domestic inflation remains well above the central bank's comfort level, with additional risks emerging. So despite weak growth, the central bank's room for maneuver is limited, especially with no progress on the fiscal front.
"The policy statement would likely stress the need for speedy implementation of pending fiscal reforms, without which monetary policy transmission is less effective. We expect the statement to spell out conditions that would allow it to take easing measures," the report added.
The benchmarks had opened with a gap-up following a rally in the Asian markets, which rallied on the comments of European Central Bank's president Mario Draghi that the ECB would take all necessary measures to save the euro.
Our view is positive as long as Nifty holds above 5,000 levels. On currency front, the euro and rupee charts appear bullish and that will provide support to the market.
He is of the view that short-term traders should play for long bets on the Nifty, keeping a stop loss of 5030. "On the upside, the Nifty can move up to 5,300-5,348 levels," he added.
The BSE Midcap Index fell 0.90 per cent and the BSE Smallcap Index moved 0.97 per cent lower.
Among the sectoral indices, the BSE Metal Index was up 2.23 per cent, the BSE FMCG Index gained 1.42 per cent and the BSE IT Index moved 1.38 per cent higher. The BSE Realty Index was down 0.56 per cent and the BSE Capital Goods Index slipped 0.45 per cent.
Sterlite Industries (4.57 per cent), Tata Steel (4.40 per cent), Tata Motors (3.78 per cent), HDFC Bank (3.75 per cent), and Sesa Goa (3.31 per cent) were among the top Nifty gainers.
Punjab National Bank (4.95 per cent), State Bank of India (3.54 per cent), Bank of Baroda (2.49 per cent),Jaiprakash Associates (2.44 per cent) and Kotak Bank (1.98 per cent) were among the losers.
Punjab National Bank reported a net profit of Rs 1,246 crore for the quarter ended June 30, 2012, up 12.7 per cent, from a net profit of Rs 1,105 crore in the same quarter last fiscal. Total income grew by 24.6 per cent to Rs 11,711 crore during the June 2012 quarter against Rs 9,398.91 crore in the same period a year ago.
Public sector banks were punished today over asset quality concerns.
"The public sector banks as we all know are facing NPA challenges, but post this quarter, the NPA challenges will be under control. In terms of the government policy, there is a fear that we might see some sort of a farm loan waiver package etc. I think that would be an unwise move and the government would not go ahead with such a proposal.
The market breadth was positive on the NSE with 493 gainers against 989 losers.
The 50-share Nifty index closed at 5,099.85, up 56.85 points or 1.13 per cent. The broader index touched a high of 5,149.95 and a low of 5,077.50 in trade today.
The Sensex ended at 16,839.19, up 199.37 points or 1.20 per cent. It touched a high of 16,975.03 and a low of 16,760.72 in trade today.
The Reserve Bank of India's policy meet early next week will be keenly eyed, say dealers. Analysts are of the view that the RBI is likely to keep rates unchanged as inflation remains above the comfort zone.
The Reserve Bank of India will likely maintain an unchanged policy stance in the next week's policy meeting. Domestic inflation remains well above the central bank's comfort level, with additional risks emerging. So despite weak growth, the central bank's room for maneuver is limited, especially with no progress on the fiscal front.
"The policy statement would likely stress the need for speedy implementation of pending fiscal reforms, without which monetary policy transmission is less effective. We expect the statement to spell out conditions that would allow it to take easing measures," the report added.
The benchmarks had opened with a gap-up following a rally in the Asian markets, which rallied on the comments of European Central Bank's president Mario Draghi that the ECB would take all necessary measures to save the euro.
Our view is positive as long as Nifty holds above 5,000 levels. On currency front, the euro and rupee charts appear bullish and that will provide support to the market.
He is of the view that short-term traders should play for long bets on the Nifty, keeping a stop loss of 5030. "On the upside, the Nifty can move up to 5,300-5,348 levels," he added.
The BSE Midcap Index fell 0.90 per cent and the BSE Smallcap Index moved 0.97 per cent lower.
Among the sectoral indices, the BSE Metal Index was up 2.23 per cent, the BSE FMCG Index gained 1.42 per cent and the BSE IT Index moved 1.38 per cent higher. The BSE Realty Index was down 0.56 per cent and the BSE Capital Goods Index slipped 0.45 per cent.
Sterlite Industries (4.57 per cent), Tata Steel (4.40 per cent), Tata Motors (3.78 per cent), HDFC Bank (3.75 per cent), and Sesa Goa (3.31 per cent) were among the top Nifty gainers.
Punjab National Bank (4.95 per cent), State Bank of India (3.54 per cent), Bank of Baroda (2.49 per cent),Jaiprakash Associates (2.44 per cent) and Kotak Bank (1.98 per cent) were among the losers.
Punjab National Bank reported a net profit of Rs 1,246 crore for the quarter ended June 30, 2012, up 12.7 per cent, from a net profit of Rs 1,105 crore in the same quarter last fiscal. Total income grew by 24.6 per cent to Rs 11,711 crore during the June 2012 quarter against Rs 9,398.91 crore in the same period a year ago.
Public sector banks were punished today over asset quality concerns.
"The public sector banks as we all know are facing NPA challenges, but post this quarter, the NPA challenges will be under control. In terms of the government policy, there is a fear that we might see some sort of a farm loan waiver package etc. I think that would be an unwise move and the government would not go ahead with such a proposal.
The market breadth was positive on the NSE with 493 gainers against 989 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