SECOND HALF BETTER
Inputs by
Dr.Bhuvanagiri Amaranatha Sastry
Astro Technical Analyst
Saketha Consultants, Hyderabad
sastry.saaketa@gmail.com
09848014561
http://www.saaketa.com/AstroTechnicals.aspx |
Nifty 7109 +95
Review for Tuesday :: Exit Poll Results add Fuel to Fire … !!!
Nifty opened better on the back of positive exit poll
results and surged further and closed with a gain of 1.50%, though it came off
from higher level due to profit booking. 40 of Nifty stocks gained but broader
market too was positive with Advance
Decline ratio at 1.50. Reliance, Infy and ONGC contributed more than 35 points
to Nifty’s gain.
BHEL, Hero Motors, Ambuja Cement, Bank of Baroda, DLF remained major gainers among Nifty stocks while PNB, Dr Reddy,
Cairn, Hindalco, HDFC Bank
remained losers.
Adani Enterprises, GMR Infra, BHEL, Jubilant Food, Adani
Ports, remained major gainers
among F&O stocks while PNB, Dr Reddy, Apollo Tyres, Glenmark,M&M
Finance declined among F&O stocks.
NEW HIGHS ON EXIT POLL EUPHORIA
Exit polls showing the BJP-led NDA is
projected to form the next government gave a fresh boost to domestic
markets today with the BSE benchmark Sensex zooming to new all-time high
of 24,068.94 and NSE Nifty surging to 7,172.35, the third straight
record-setting session.
At close, the Sensex concluded at a new high of 23,871.23, showing a sharp gain of 320.23 points, or 1.36 per cent, over Monday. Hopes of a stable business-friendly government at the Centre also helped 50-share NSE Nifty finish at a new closing peak of 7,108.75, logging a rise of 94.50 or 1.35 per cent. The BJP-led NDA is projected to form the government at the Centre with exit polls on Monday night giving between 249 and 290 seats to the Narendra Modi-led grouping, which is close to the half-way mark in the 543-member Lok Sabha. Shares of Power, Consumer Durable, Refinery, IT, Capital Goods, Realty and Teck shot up on persistent buying, said traders. In three straight days, the Sensex has gained over 1,500 points and the Nifty nearly 450 points ahead of May 16 election results. The market sentiment was also boosted by data showing that foreign funds made substantial purchases as they bought shares worth a net Rs 1,217.95 crore yesterday as per provisional data from the stock exchanges.
Market participants seemed to ignore data, which came after markets closed yesterday, showing retail inflation rose to three-month high of 8.59 per cent in April, squeezing the space for the Reserve Bank to ease interest rates in the monetary policy review in June. Jignesh Chaudhary, Head of Research, Veracity Broking Services said: "Local equities opened strong taking cues from yesterday's exit polls which showed that the Bharatiya Janata Party and its allies will be on the winning side in the Lok Sabha elections. Investors feel that if Modi wins this elections then his presence will boost markets & also the FIIs will pour in more money..." Globally, most Asian stocks ended higher as investors weighed earnings and after US stocks climbed to record high overnight. Benchmark indices in South Korea, Hong Kong, Taiwan and Japan were up by 0.11 per cent to 1.95 per cent while Shanghai Composite declined by 0.10 per cent. Singapore market was closed today.
At close, the Sensex concluded at a new high of 23,871.23, showing a sharp gain of 320.23 points, or 1.36 per cent, over Monday. Hopes of a stable business-friendly government at the Centre also helped 50-share NSE Nifty finish at a new closing peak of 7,108.75, logging a rise of 94.50 or 1.35 per cent. The BJP-led NDA is projected to form the government at the Centre with exit polls on Monday night giving between 249 and 290 seats to the Narendra Modi-led grouping, which is close to the half-way mark in the 543-member Lok Sabha. Shares of Power, Consumer Durable, Refinery, IT, Capital Goods, Realty and Teck shot up on persistent buying, said traders. In three straight days, the Sensex has gained over 1,500 points and the Nifty nearly 450 points ahead of May 16 election results. The market sentiment was also boosted by data showing that foreign funds made substantial purchases as they bought shares worth a net Rs 1,217.95 crore yesterday as per provisional data from the stock exchanges.
Market participants seemed to ignore data, which came after markets closed yesterday, showing retail inflation rose to three-month high of 8.59 per cent in April, squeezing the space for the Reserve Bank to ease interest rates in the monetary policy review in June. Jignesh Chaudhary, Head of Research, Veracity Broking Services said: "Local equities opened strong taking cues from yesterday's exit polls which showed that the Bharatiya Janata Party and its allies will be on the winning side in the Lok Sabha elections. Investors feel that if Modi wins this elections then his presence will boost markets & also the FIIs will pour in more money..." Globally, most Asian stocks ended higher as investors weighed earnings and after US stocks climbed to record high overnight. Benchmark indices in South Korea, Hong Kong, Taiwan and Japan were up by 0.11 per cent to 1.95 per cent while Shanghai Composite declined by 0.10 per cent. Singapore market was closed today.
24 scrips out the 30-share Sensex pack ended
higher while only six counters finishing lower. Major gainers were
BHEL (10.25 per cent), Hero Moto (5.39 per cent), ONGC (3.81 per cent),
Tata Power (3.62 per cent), Wipro (3.36 per cent), Reliance Industries
(3.15 per cent), Infosys (2.76 per cent) and Gail India (2.51 per cent).
TCS (2.36 per cent), Maruti Suzuki (2.14 per cent), SSLT (1.82 per
cent), Bajaj Auto (1.61 per cent), Tata Steel (1.58 per cent), HDFC
(1.56 per cent), Larsen & Toubro (1.56 per cent), SBI (1.45 per
cent), HUL (1.35 per cent) and NTPC (1.28 per cent) also notched up good
gains. Dr Reddys dropped 3.99 per cent, the biggest drop in the six
Sensex losers of the day. "After three days of vertical spurt, we
believe that index may take a breather for a session or two prior to
final tally," said Jayant Manglik, President-retail distribution,
Religare Securities. Among the S&P BSE sectoral indices, Power rose
by 3.26 per cent, Consumer Durables 2.92 per cent, Oil&Gas 2.84 per
cent, IT 2.59 per cent, Capital Goods 2.51 per cent, Realty 2.44 per
cent and Teck 2.23 per cent. However, Healthcare index fell 0.45 per
cent. Market breadth turned positive as 1,623 stocks finished with
gains, 1,268 stocks ended with losses while 147 ruled steady. The total
turnover rose to Rs Rs 4,620.58 crore from Rs 3,592.61 crores yesterday.
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