NIFTY OUTLOOK FOR 02 & REVIEW

SECOND HALF BETTER

Nifty                               8083     +55

Nifty continued its uptrend and closed above 8000 for the Second day and Sensex too closed above 27000 mark. Short term bullishness would be terminated only if it closes  below 7950, which is rather far away now. Nifty cleared the monthly resistance of 8075 with ease and can be expected to go up further this month. Nifty spot is expected to encounter resistance at 8125, 8160 and find support at 8045, 8010 for Wednesday. While Global cues  and  Funds flow  are expected to broadly guide the market movement, based on the present market position, market can be expected to be  generally better particularly in Second half. 

INDICES @ NEW PEAKS 

The BSE Sensex surpassed the 27,000- mark for the first time and the Nifty touched 8,100-level with foreign funds continuing frenetic buying in pharma, oil & gas and auto stocks as good news on CAD further boosted sentiment.
Continuing its surge for the eighth day, the BSE Sensex hit fresh life-time high of 27,082.85. Later, the barometer settled at all time closing high of 27,019.39, up by 151.84 points, or 0.57 per cent, over the previous close.
It took 40 trading sessions from July 7 to September 2 to reach the psychological 27,000-level from 26,000.
The NSE Nifty crossed the key 8,100-mark to hit all-time high of 8,101.95. However, profit-booking at record levels trimmed part of gains and Nifty closed at 8,083.05 points, up by 55.35 points, or 0.69 per cent.
A host of positive developments on domestic as well as global fronts helped the market go on winning spree.
After better-than-expected GDP data, the current account deficit (CAD) narrowed sharply to 1.7 per cent of GDP in the April-June quarter against 4.8 per cent of GDP in Q1 FY14 mainly due to decline in gold imports and rise in exports.
Japan yesterday announced doubling of its private and public investment in India to about USD 34 billion over the next five years.
Foreign Portfolio Investors (FPIs) remained the main driving force behind the current rally. FPIs bought shares worth Rs 554.14 crore yesterday, as per provisional data.
Cipla with a rose of 5.23 per cent was the best gainer among Sensex stocks. The company launched a generic drug for asthma and chronic obstructive pulmonary disease in Germany and Sweden. 

Other stocks which supported the key indices to hit fresh life-time high were Bharti Airtel (4.24 per cent), Sun Pharma (2.50 per cent), HDFC Bank (2.01 per cent), ONGC (1.15 per cent) and ITC Ltd (1.28 per cent).

Over 300 stocks touch 52-wk high
Helped by a smart rise in the Sensex that surpassed the 27,000-mark for the first time, more than 300 stocks hit their one-year high level on the BSE today.
As many as 323 stocks touched 52-week high in an overall robust stock market where the Sensex hit fresh life-time high of 27,082.85 and settled at all-time closing high of 27,019.39, up 151.84 points, or 0.57 per cent, over the previous close.
The list included blue-chips like ACC, Bharti Airtel, Cipla, Dr Reddys Laboratories, ICICI Bank, Hero MotoCorp, IOC, Lupin, Mahindra & Mahindra, Maruti Suzuki India and Tech Mahindra.
Among the 30 Sensex scrips, 17 ended the day with gains led by pharma firm Cipla.
From the 12 BSE sectoral indices, 9 settled the day in the green with consumer durables emerging as the top gainer.
After better-than-expected GDP data, the current account deficit (CAD) narrowed sharply to 1.7 per cent of GDP in the April-June quarter against 4.8 per cent of GDP in Q1 FY14 mainly due to decline in gold imports and rise in exports.