ZIGZAG MOVEMENTS
Nifty gained smartly after about a Week to close above 7575. Another positive close (above 7600) would make it bullish in very short term, 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 witness zigzag movements with subduedness after the opening hour and recovery thereafter with volatile movements.
Nifty gained smartly after about a Week to close above 7575. Another positive close (above 7600) would make it bullish in very short term, 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 witness zigzag movements with subduedness after the opening hour and recovery thereafter with volatile movements.
Nifty
7580 +87
Review for Tuesday :: All round Optimism … !!!
Market opened better and surged further by being
subdued in the midsession to close with a gain of more than 1%. 39 of
Nifty stocks gained and broader market too was positive with Advance Decline
ratio at 3:1. Realty, PSU Bank, Energy, Metal, Infra, Auto indices gained
smartly while Media and Pharma indices fell marginally. . HDFC, Reliance,
ITC and ICICI Bank contributed more than 45 points to Nifty’s gain while
Infy and otak Bank pulled down the market marginally. It was a general bullish
day with most sectors and scrips participating.
BPCL,GAIL,DLF, Bank of Baroda, NMDC
remained major gainers among Nifty stocks
Kotak Bank, Infy, Sun Pharma , Cairn, Tech MAhindra remained
losers.
Petronet, Hind Petro, Jubilant Food, Ashok Leyland,
Voltas remained major gainers among F&O stocks while Zee,
Kotal, Ranbaxy, Sun Pharma, Dabur declined among F&O stocks.
SENSEX GAINS 338 POINTS
Fall in the
global crude oil prices eased inflation concerns helping the benchmark Sensex
today to rise about 338 points to 25,368.90, its biggest gain in more than two
weeks. Oil prices slipped on receding fears that the crisis in Iraq could result
in a major supply disruption. US benchmark West Texas Intermediate fell 54
cents to USD 105.63 per barrel and Brent eased 63 cents to USD 113.69. Firm
Asian cues after data showed that Chinese manufacturing grew in June for the
first time this year, too boosted the overall sentiment. Regional indices
closed higher with gains of upto 1 per cent. Equity brokers also said hectic
short-coverings ahead of the expiry of June contract on Thursday also helped
Indian indices Sensex and Nifty script a smart rebound. The BSE 30-share Sensex
resumed strong in line with firm Asian markets and gradually improved further
to settle at 25,368.90, a rise of 337.58 points or 1.35 per cent. This is its
biggest rise in absolute terms since June 6, 2014 when it had shot up by 376.95
points. Before today, the Sensex had tumbled by 489.87 points in the previous
four straight sessions on rising oil prices and forecasts of below-average
monsoon rains. The 50-issue CNX Nifty of the NSE today jumped 86.85 points, or
1.16 per cent, to end at 7,580.20. Barring healthcare, 11 BSE sectoral indices
closed with gains with realty, consumer durable, oil&gas, power, banking,
metal and auto taking the lead. "Softening in crude oil prices and
positive global cues boosted the market sentiment. Metal and mining stocks also
showed buying interest after China posted positive manufacturing data,"
said Rakesh Goyal, Senior Vice President, Bonanza Portfolio Ltd. Heavyweights
like HDFC, RIL, ITC, ICICI Bank, TCS, SBI, Tata Motors, HDFC Bank, L&T, Axis
Bank, ONGC and Gail India attracted good buying interest. Meanwhile, equity
derivatives turnover at the BSE rose to over Rs 3.3 lakh crore level due to
heavy volume in index options.
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