SECOND HALF SUBDUED
Nifty 8115 +32
Nifty continued its uptrend and closed above 8000 for the Third day . Short term bullishness would be terminated only if it closes below 8025. In view of the steep rise in the last One week, it is in overbought phase and can be expected to consolidate before a fresh move. Nifty spot is expected to encounter resistance at 8145, 8180 and find support at 8075, 8040 for Thursday. 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 in the forenoon and could face profit booking in Second half and hence caution at higher levels.
CONTINUES BULLISH TREND
Rising for the ninth straight session, the BSE Sensex gained 120 points to close at fresh peak of 27,139.94 today in IT stocks led rally powered by positive global cues and continued overseas fund inflows.
The wide-based NSE Nifty index rose by 31.55 points to close at record 8,114.60 points. The index touched intra-trade record high of 8,141.90 points, surpassing previous record of 8,101.95 hit yesterday.
The 30-share Sensex opened on a strong footing and rose quickly to historic high of 27,225.85 points as buying momentum picked up.
But gains were capped by profit-booking at record levels and the barometer settled at 27,139.94 -- fresh record closing level -- with net gains of 120.55 points or 0.45 per cent over last close. The Sensex bettered its previous closing peak of 27,019.39 hit yesterday.
The gauge has now gathered over 825 points in nine straight sessions.
IT, realty, teck metal and capital goods stocks were in keen demand while some counters from FMCG, banking and power segments suffered losses.
IT stocks, led by TCS, were in the limelight on fresh spell of buying after bullish US manufacturing and construction data. TCS, Infosys and Wipro rose between 2.45 per cent and 3.4 per cent.
Nifty 8115 +32
Nifty continued its uptrend and closed above 8000 for the Third day . Short term bullishness would be terminated only if it closes below 8025. In view of the steep rise in the last One week, it is in overbought phase and can be expected to consolidate before a fresh move. Nifty spot is expected to encounter resistance at 8145, 8180 and find support at 8075, 8040 for Thursday. 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 in the forenoon and could face profit booking in Second half and hence caution at higher levels.
CONTINUES BULLISH TREND
Rising for the ninth straight session, the BSE Sensex gained 120 points to close at fresh peak of 27,139.94 today in IT stocks led rally powered by positive global cues and continued overseas fund inflows.
The wide-based NSE Nifty index rose by 31.55 points to close at record 8,114.60 points. The index touched intra-trade record high of 8,141.90 points, surpassing previous record of 8,101.95 hit yesterday.
The 30-share Sensex opened on a strong footing and rose quickly to historic high of 27,225.85 points as buying momentum picked up.
But gains were capped by profit-booking at record levels and the barometer settled at 27,139.94 -- fresh record closing level -- with net gains of 120.55 points or 0.45 per cent over last close. The Sensex bettered its previous closing peak of 27,019.39 hit yesterday.
The gauge has now gathered over 825 points in nine straight sessions.
IT, realty, teck metal and capital goods stocks were in keen demand while some counters from FMCG, banking and power segments suffered losses.
IT stocks, led by TCS, were in the limelight on fresh spell of buying after bullish US manufacturing and construction data. TCS, Infosys and Wipro rose between 2.45 per cent and 3.4 per cent.
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