Tuesday, June 24, 2014

NIFTY OUTLOOK FOR 25th & REVIEW

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                               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.
 



 

No comments:

Post a Comment

ఉపాధి, వేత‌న వృద్ధి రెండింటిలోనూ బెంగ‌ళూరే టాప్‌

నూత‌న ఉపాధి అవ‌కాశాల క‌ల్ప‌న‌, వేత‌న వృద్ధి రెండింటిలోనూ దేశంలోని న‌గ‌రాల‌న్నింటిలోనూ బెంగ‌ళూరు అగ్ర‌స్థానంలో నిలిచింది. చెన్నై, ఢిల్లీ త‌ర్...