SECOND HALF BETTER...
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One more positive day with Nifty crawling and holding above 6300 mark for the Fourth day in succession. It is at the upper end of the range of 6350 and appears set to cross the same ahead of crucial RBI policy early next week. Nifty spot is expected to encounter resistance at 6385, 6420 and find support at 6305, 6270, for Friday. While Global cues, Q3 results, and Funds flow are expected to broadly guide the market movement, based on the present market position , market can be expected to be generally subdued in the forenoon session and could remain relatively better in the afternoon session.
Nifty
Review for Thursday, 23rd January, 2014 :: Flat Close with Bullish Bias.. !!
After subdued opening session, market slowly and steadily went up to close with minor gain. 25 of Nifty stocks closed in the green but broader market was negative with Advance Decline ratio at 1: 1.25. Infra, Pharmaand FMCG indices gained while Auto, Energy, Realty and Metal indices declined.L&T, Jindal Steel, Axis Bank, Sun Pharma and GAIL remained as major gainers among Nifty stocks while M&M, HCL Tech, ONGC, PNB and Coal India remained major losers.
Among Heavy weight stocks, L&T contributed positively to Nifty following encouraging Q3 results. M&M Finance and Biocon fell following disappointing results.
Among F&O stocks Adani Enterprises, UBL, Titan, L&T, UCO Bank and Axis Bank gained with higher Open Interest indicating fresh long positions while M&M Finance, Biocon, Jain Irrigation, UPL, M&M declined with higher Open Interest suggesting fresh short positions.
SENSEX CLOSE @ RECORD HIGH FOR SECOND DAY
The BSE benchmark
Sensex today scaled a new high of 21,373.66 today by gaining 36 points on
buying in select stocks in an otherwise lacklustre trade. This is for the
second successive day that the key index is hitting record high level.
Yesterday, the barometer rose by 87 points to close at all-time high of
21,337.67. The 50-issue Nifty of NSE settled at 6,345.65, up by 6.70 points or
0.11 per cent. Its record all-time closing high was 6,363.90, registered on
December 9, 2013.
A smart rise in heavyweights like L&T, HDFC, Infosys, Axis Bank, Sun Pharma, ITC, Bharati Airtel and GAIL India helped the Sensex to log its historical closing high and extent gains for the fourth straight trading day in a row. The 30-issue bellwether index initially dipped to a low of 21,264.71 on weak Asian cues, but gradually recovered after mid-session and crossed 21,400-mark. It was just 74 points short of its life-time intra-day high of 21,483.74, recorded on December 9, 2013. Finally, the Sensex closed higher by 35.99 points or 0.17 per cent at 21,373.66.
Larsen and Toubro (L&T) was the most sought after stock after the company reported a 22.44 per cent rise in standalone net profit for the December quarter. The construction and engineering giant was the top Sensex gainer at 2.81 per cent.
Though the Sensex is setting new closing records, the second rank counters underperformed the index, mainly due to profit-booking by wary retail investors at higher levels. The BSE-Midcap and Smallcap indices closed down by 0.48 per cent and 0.12 per cent respectively.
A smart rise in heavyweights like L&T, HDFC, Infosys, Axis Bank, Sun Pharma, ITC, Bharati Airtel and GAIL India helped the Sensex to log its historical closing high and extent gains for the fourth straight trading day in a row. The 30-issue bellwether index initially dipped to a low of 21,264.71 on weak Asian cues, but gradually recovered after mid-session and crossed 21,400-mark. It was just 74 points short of its life-time intra-day high of 21,483.74, recorded on December 9, 2013. Finally, the Sensex closed higher by 35.99 points or 0.17 per cent at 21,373.66.
Larsen and Toubro (L&T) was the most sought after stock after the company reported a 22.44 per cent rise in standalone net profit for the December quarter. The construction and engineering giant was the top Sensex gainer at 2.81 per cent.
Though the Sensex is setting new closing records, the second rank counters underperformed the index, mainly due to profit-booking by wary retail investors at higher levels. The BSE-Midcap and Smallcap indices closed down by 0.48 per cent and 0.12 per cent respectively.
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