 |
Inputs by
Dr.Bhuvanagiri Amaranatha Sastry
Astro Technical Analyst
Saketha Consultants, Hyderabad
sastry.saaketa@gmail.com
09848014561 |
CLOSING SUBDUED
March derivative series started off on positive note with
Nifty gaining about 0.50%. Short term bullish outlook gets negated only if Nifty closes below 6200..
Nifty spot is expected to encounter resistance at 6315, 6350 and find support
at 6235, 6200, for Monday. . While Global cues
and Funds flow are expected to broadly guide the market
movement, based on the present market position , market can be expected to remain
generally better in the forenoon and
could remain subdued in Second half , particularly towards close.
Nifty 6277 +38
Review for Friday :: IT and Pharma stocks lead . .... !!
Market traded in a
narrow range with bullish bias and gained more than 0.50% for the day,
gaining on all the Four days of the week. The week too ended with a gain of about
2%. 32 of Nifty stocks gained and broader market too was positive with Advance
Decline ratio at 1.2 :1. Barring Energy and FMCG, all other indices gained led
by Pharma, IT, Auto, Metal, Media and Infra.
Hindalco, TCS, Tata Motors, Lupin, JP Associates stood out
as major gainers among Nifty stocks
while MAruti, NTPC, Tata Steel, Reliance, HDFC Bank remained losers.
JP Power, Hindalco, PFC, KTK Bank, Adani Ports remained major gainers among F&O stocks
while MAruti, Hexaware, Dish TV, NTPC, Unitech remained losers among F&O
stocks.
SENSEX GAINS 133 POINTS
The benchmark Sensex today jumped over 133
points to reclaim the 21,000 mark buoyed by gains in bluechips like TCS,
Tata Motors and Hindalco, to log the best weekly rise since November
2013. Brokers said sentiment was strong as foreign investors have
remained net buyers of Indian stocks in past ten days. Firm global cues
also helped after US Fed Chairperson Janet Yellen yesterday reiterated
the Fed is likely to continue tapering asset purchases at a "measured"
pace. After gaining 450 points in past four sessions, the BSE Sensex
shot up by 133.13 points, or 0.63 per cent, to end at 21,120.12. The
index last closed above the 21,000 level on January 24 when it concluded
at 21,133.56. The gauge had touched the day's high of 21,140.51
intra-day today. Experts said all eyes are on India's October-December
quarter GDP growth. Hindalco led the 18 gainers in 30-share Sensex.
TCS, Tata Motors, Sun Pharma, ONGC and BHEL were among notable winners.
However, Maruti Suzuki led the 12 Sensex losers. Shares of the carmaker
lost 4.54 per cent, amid investor concerns regarding its proposed
Gujarat plant. For the week, the Sensex gained 419.37 points -- the
biggest rise since the week ending November 29, 2013 when the barometer
surged 574.54 points. "Going ahead, the markets would continue to
follow developments on the political scene and geopolitical developments
in Ukraine," said Sanjeev Zarbade, Vice President- Private Client Group
Research, Kotak Securities. The National Stock Exchange index Nifty
rose 38.15 points, or 0.61 per cent, to end at 6,276.95, after climbing
to 6,282.70 intra-day. Sectorally, the BSE healthcare sector index
gained the most by rising 2.27 per cent, followed by IT index (1.44 per
cent), Auto index (1.37 per cent) and Capital Goods (1.18 per cent).
Overall, nine of the 12 sectoral indices gained. Oil&gas, consumer
durables and FMCG ended in the red. Global markets, including those in
Asia, were positive ahead of reports on American housing, consumer
spending and economic growth.
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