Skip to main content

NIFTY ENDS @ RECORD HIGH

Benchmark Nifty closed at an all-time high of 9,173.75 while the Sensex rose for the third straight session today on optimism surrounding the GST amid expiry of derivatives contracts. The Lok Sabha yesterday cleared four GST legislations to pave the way for the rollout of the new indirect tax regime from July 1, boosting market sentiment. Sustained foreign capital inflows and covering up of short positions on the last trading session of March series derivatives contracts supported the momentum, traders said. The 50-share NSE Nifty edged higher by 29.95 points, or 0.33 per cent to a record closing of 9,173.75 after hovering between 9,183.15 and 9,136.35. This is Nifty's highest closing since March 17, when it had ended at 9,160.05. The 30-share Sensex, after touching the day's high of 29,684.54, succumbed to profit-booking and hit a low of 29,521.65 before settling 115.99 points, or 0.39 per cent higher at 29,647.42. The gauge had gained 294.28 points in the previous two sessions. "Market sentiment got a boost after the Lok Sabha yesterday passed four bills relating to the implementation of the Goods and Services Tax (GST)...," said Karthikraj Lakshmanan, Senior Fund Manager – Equities, BNP Paribas Mutual Fund. Meanwhile, foreign portfolio investors (FPIs) bought shares worth a net Rs 460.98 crore yesterday, as per provisional data released by the stock exchanges. Logistics stocks saw increased buying after the GST legislations were cleared by the Lok Sabha. Shares of Arshiya Ltd, Allcargo Logistics, Transport Corp of India, Blue Dart Express, Snowman and Container Corp of India ended higher by up to 4.98 per cent. Adani Ports was the top performer in the Sensex pack, surging 5.77 per cent to Rs 338.85, followed by HDFC Bank (2.51 per cent to Rs 1,463.75). Other gainers included Bharti Airtel, GAIL, RIL, Wipro, Cipla, SBI, HUL and L&T, gaining up to 1.67 per cent. Auto stocks, including M&M, Hero MotoCorp, Maruti Suzuki and Ashok Leyland, recovered on value buying, a day after recording steep losses following the Supreme Court's decision banning sale and registration of BS-III vehicles from April 1. The broader markets too were in a better shape as investors widened their bets, lifting the BSE small-cap index by 0.95 per cent and mid-cap index by 0.39 per cent. Sector-wise, realty gained the most by rising 2.17 per cent, followed by consumer durables (1.38 per cent), bank (0.82 per cent), capital goods (0.55 per cent) and power (0.37 per cent). Market breadth turned positive as 1,739 stocks ended higher, 984 declined, while 232 ruled unchanged. The total turnover fell to Rs 4,606.56 crore from Rs 14,854.52 crore yesterday. Globally, other Asian markets saw a lower trend, with Japan's Nikkei falling 0.80 per cent, Hong Kong's Hang Seng losing 0.37 per cent and Shanghai Composite Index shedding 0.96 per cent. European stocks were slightly better in their early trade with London's FTSE rising 0.12 per cent, Paris CAC up 0.10 per cent and Frankfurt gaining 0.11 per cent.

Comments

Popular posts from this blog

DHIRUBHAI ENJOYED IN WEALTH CREATION

Leading businessman Anil Ambani today said more than creating wealth for himself, his father late Dhirubhai Ambani derived greater happiness from creating wealth for masses. "If you ever asked what part of being an entrepreneur he (late Ambani) enjoyed the most, he would say, 'I enjoy creating wealth. But what I enjoy even more is in creating wealth for the people of the country,'" the Anil Ambani Group chairman said while addressing an industry event here. It can be noted that the late Ambani, who had a humble beginning as a primary school teacher's son in Gujarat, is regarded as the father of capital markets and the equity cult, who made millions of investors millionaires with the IPO of Reliance Textile Industries in 1977. A person who had put in Rs 1,000 then in the IPO is worth over a million today, going by the price of RIL. Stating that the launch of Kothari Pioneer Mutual Fund, which was country's first private MF in 1993, was his (Dhirubhai's) id…

BEAR GRIP ON INDIAN STOCK MARKET

RECORDS 1 WEEKLY FALL IN 6 WEEKS
Gripped by fear psychosis due to geo-political aftershocks, key stock market indices were on a sticky wicket for the fifth day today as both Sensex and Nifty fell over 1 per cent to hit their one-month lows. The sharp plunge left investors poorer by over Rs 95,000 crore as the market cap stood at Rs 1,27,08,846 crore. Risk appetite took a hit after the Economic Survey said achieving the high end of the 6.75-7.5 per cent growth projected previously will be difficult. This is markets' first weekly fall in six.
Weakness in the rupee against the American currency and lacklustre global shares dragged down the indices, too. The BSE 30-share Sensex remained in the negative zone and settled down 317.74 points, or 1.01 per cent, at 31,213.59, its weakest closing since July 4. The index had tumbled 794.08 points in the last four sessions. The NSE Nifty after cracking the 9,700-mark to hit a low of 9,685.55, finally settled lower 109.45 points, or 1.11 per cent…

ASTRO TECHNICAL GUIDE FOR NIFTY

 for 11, April 2017
Opening Session  Subdued
Tithi ::Chaitra Bahula  Padyami
Nakshatra:Chitta
Persons born in Pushyami, Anuradha and Uttarabhadra constellations and those born in Libra and Aquarius are advised to be alert in their dealings.
Sensitive / Trend change Timings : 10.05 AM; 11.40 AM; 2.30 PM
Likely Intraday Trend...
On the basis of planetary position and aspects amongst planets, Market is expected to open  Subdued  and remain so  till about 11.20AM and could remain  better from  about 11.30 AM till about 1.30 pm and could remain subdued thereafter till  about end of the day.
Astro Technical Trading Strategy...
If Nifty Fut. Trades below  ATP/ Open level by about 9.30 AM , Short   Positions can be taken with suitable   SL, and such positions can be closed by about 11.30 AM. If Nifty Fut trades above  ATP by about 11.45 AM, Long Positions can be taken with suitable SL,and such positions can be closed by about 1.30 PM / 1.45 PM.
Technical Levels... Resistance : 9220, 9255 Sup…