The rally in the Indian equity market continued for the third consecutive day of trading in the New Year. Though the market lost its steam in the last hour of trading, but it managed to end in the green. Buoyed by global cues and specially the rally in the US stock market on Wednesday, Indian stock market started well above yesterday’s close and ended in positive as well in spite of plunging in negative territories at some points during the day’s trading.
The benchmark BSE Sensex rose 0.26 %, or 50.54 points, to end at 19,764.78, making its highest close since January 6, 2011. It had earlier touched a day's high of 19786 and a day's low of 19693. It opened at 19,771. The broader NSE Nifty rose 0.27 %, or 16.25 points, to end at 6,009.50, its highest close since Jan. 6, 2011, and ending above the psychologically key level of 6,000 points. It earlier touched a day’s high of 6,017 and a day’s low of 5,986 after opening at 6,015.
The BSE Midcap index gained 0.77%, while the BSE Smallcap index rose by 0.93% today. Among the 13 sectoral indices, six sectors closed in the red zone while remaining seven sectors closed in the green zone. Top sectoral gainers were, BSE Oil&Gas up by 1.37%, BSE TECk up by 1.32%, BSE IT surging by 1.10%. Top sectoral losers were, BSE FMCG, down by 0.50%, BSE CD falling by 0.38% and BSE CG declining by 0.38%.
RIL, Infosys, Wipro, NTPC, TCS, SBI, Bajaj Auto, NTPC, Tata Steel, Dr Reddys Lab, ONGC, Dr Reddys Lab, Bajaj Auto, Coal India, are among gainers in Sensex and Nifty. While, Bharti Airtel, ICICI Bank, Tata Power, Sun Pharma, Hero MotoCorp, BHEL, Gail India, Hero MotoCorp, Tata Motors, HDFC Bank, Maruti Suzuki, ITC, M&M are among losers in Sensex and Nifty.
The advance decline ratio was in favour of the bulls. Of the 3101 stocks traded on the BSE, 1713 (55.24%) rose, 1263 (40.73%) fell and 125 (4.03%) stocks remained unchanged.
Asian markets were mostly positive today. Nikkei rose by 0.70%, Hang Seng was up by 0.37%, Shanghai Composite was up by 1.61%, Taiwan was up by 0.74% while KOSPIwas down by 0.58%. European markets are trading mixed. FTSE is up by 0.35%, DAX is down by 0.26%, CAC down by 0.22%. US markets have also started the day on a negative overtone due to concern over budget problems in the US, which are far from over.
Tomorrow’s market outlook
Though there is much optimism that the Reserve Bank of India may cut lending rates in January monetary policy, but fiscal deficit in the home front is a serious concern. U.S. problems are just postponed and not solved as discussion regarding debt limit will come back.
All this and earning reports of Indian companies that are expected from next week will most likely keep the Indian stocks under pressure. Under most likelihood, there will be some kind of selling pressure as well due to profit booking.
The benchmark BSE Sensex rose 0.26 %, or 50.54 points, to end at 19,764.78, making its highest close since January 6, 2011. It had earlier touched a day's high of 19786 and a day's low of 19693. It opened at 19,771. The broader NSE Nifty rose 0.27 %, or 16.25 points, to end at 6,009.50, its highest close since Jan. 6, 2011, and ending above the psychologically key level of 6,000 points. It earlier touched a day’s high of 6,017 and a day’s low of 5,986 after opening at 6,015.
The BSE Midcap index gained 0.77%, while the BSE Smallcap index rose by 0.93% today. Among the 13 sectoral indices, six sectors closed in the red zone while remaining seven sectors closed in the green zone. Top sectoral gainers were, BSE Oil&Gas up by 1.37%, BSE TECk up by 1.32%, BSE IT surging by 1.10%. Top sectoral losers were, BSE FMCG, down by 0.50%, BSE CD falling by 0.38% and BSE CG declining by 0.38%.
RIL, Infosys, Wipro, NTPC, TCS, SBI, Bajaj Auto, NTPC, Tata Steel, Dr Reddys Lab, ONGC, Dr Reddys Lab, Bajaj Auto, Coal India, are among gainers in Sensex and Nifty. While, Bharti Airtel, ICICI Bank, Tata Power, Sun Pharma, Hero MotoCorp, BHEL, Gail India, Hero MotoCorp, Tata Motors, HDFC Bank, Maruti Suzuki, ITC, M&M are among losers in Sensex and Nifty.
The advance decline ratio was in favour of the bulls. Of the 3101 stocks traded on the BSE, 1713 (55.24%) rose, 1263 (40.73%) fell and 125 (4.03%) stocks remained unchanged.
Asian markets were mostly positive today. Nikkei rose by 0.70%, Hang Seng was up by 0.37%, Shanghai Composite was up by 1.61%, Taiwan was up by 0.74% while KOSPIwas down by 0.58%. European markets are trading mixed. FTSE is up by 0.35%, DAX is down by 0.26%, CAC down by 0.22%. US markets have also started the day on a negative overtone due to concern over budget problems in the US, which are far from over.
Tomorrow’s market outlook
Though there is much optimism that the Reserve Bank of India may cut lending rates in January monetary policy, but fiscal deficit in the home front is a serious concern. U.S. problems are just postponed and not solved as discussion regarding debt limit will come back.
All this and earning reports of Indian companies that are expected from next week will most likely keep the Indian stocks under pressure. Under most likelihood, there will be some kind of selling pressure as well due to profit booking.
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