MIDSESSION BETTER
After Three weeks of minor
losses, Nifty began the week with a bang and closed above 7600 mark with a gain
of more than 1%. Pre budget rally appears to have begun. While Global
cues, Quarterly results and Funds flow are expected to
broadly guide the market movement, based on the present market position, market
can be expected to remain in a narrow range and consolidate after the big range
Monday.
Nifty
7611 +102
Review for Monday :: Nifty Scores a TON., PSU
Banks Shine … !!!
Market opened better and made most of the gains in the
opening session and traded in a narrow range thereafter to close with a gain of
more than 1.20%. 42 of Nifty stocks gained and broader market too was quite
positive with Advance Decline ratio placed at 3.3:1. All Sectoral indices
gained and notable gainers among them were PSUBank, Infra, Pharma, Energy etc.,
ICICI Bank, ITC, HDFC and ONGC contributed more than 40 points to Nifty’s
gain .
BPCL, IDFC, PNB, Sun Pharma, Tata Power
remained major gainers among
Nifty stocks while Mc Dowell, MAruti, Bajaj Auto and M&M remained
marginal losers.
Syndicate Bank, Allahabad Bank, JP Power, JSW
Energy, CESC, IOB remained major gainers among F&O stocks
while Just Dial, Unitech, Bajaj Auto, Tata Motors DVR, Colpal declined
among F&O stocks.
MARKET CATCH PRE BUDGET RALLY...>
The Sensex today wrapped up the best quarterly
gain in almost five years after rallying 314 points today on hopes of strong
economic reforms in the first budget under the Narendra Modi government. Fall
in global crude oil prices also boosted the market sentiment to some extent,
dealers said. ICICI Bank, Larsen & Toubro, ITC, ONGC, HDFC, Sun Pharma,
SBI, TCS, Infosys and HDFC were the major gainers in Sensex that ended at
nearly two-week high levels today.
The BSE Sensex resumed higher at 25,179.55
and firmed up further to a high of 25,460.96 before settling at 25,413.78, its
best closing since June 17. It notched up a rise of 313.86 points or 1.25 per
cent, today. It had gained over 37 points on Friday. "Now, the countdown
has begun for the Union Budget and market participants are eyeing pre-budget
rally," said Jayant Manglik, President-retail distribution, Religare
Securities.
For the quarter ended June 30, the Sensex rose 3,027.51 points or
13.5 per cent on the back of robust inflows as the BJP government stormed to
power at the Centre after polls. This was the best quarter since the index rose
by 18 per cent in September 2009 quarter. The BSE index gained about 1,196
points in June alone.
Meanwhile, the NSE 50-share Nifty rose by 102.55 points
or 1.37 per cent, to end at 7,611.35 today. Foreign Portfolio Investors (FPIs)
bought shares worth a net Rs 182.55 crore on last Friday as per provisional
data from the stock exchanges. Second-tier counters attracted good retail
investors buying support and their indices outperformed the Sensex. Asian
stocks firmed up ahead of packed week of economic data. Key indices in China,
Japan, South Korea and Taiwan rose by 0.44 per cent to 0.93 per cent while
indices in China and Singapore fell by 0.13 per cent to 0.47 per cent. US
benchmark West Texas Intermediate for August delivery fell 26 cents to USD
105.48 and Brent crude eased 22 cents to USD 113.08 per barrel in afternoon
trade.
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