As predicted the euphoria in the India stock market continued for the third consecutive trading day. Better than expected third quarter numbers of Reliance Industries Limited (RIL) and renewed interest in stocks of oil marketing companies in the wake of government allowing refiners to raise diesel prices triggered the rally today. The market sentiment was further bolstered on higher opening in European markets as euro zone finance ministers are meeting for the first time this year to tackle the sovereign debt crisis.
The benchmark BSE Sensex shot up by 62.78 points to close at 20,101.82. While the broader NSE Nifty rose by 17.90 points to end the day’s trading at 6,082.30 - its highest level since January 6, 2011. The Sensex had earlier touched a day's high of 20,163 and a day's low of 20,056. It opened at 20132. The Nifty touched a day’s high of 6,092 and a day’s low of 6,065. It opened at 6,085.
Among the 30 shares of BSE Sensex, 17 gained while 13 ended with losses. Shares of RIL, Wipro, Infosys, Tata Power, Hero MotoCorp, HUL, Bharti Airtel, ICICI Bank, ONGC, Dr Reddys Lab, and Hindalco Inds were among gainers in Sensex and Nifty. While shares of TCS, Coal India, Tata Steel, Bajaj Auto, Tata Motors, NTPC, HDFC Bank, M&M, Sun Pharma were among losers in Sensex and Nifty.
At the closing bell, the BSE Midcap index fell by 0.14% and the BSE Smallcap index rose marginally by 0.02%. Among the 13 BSE sectoral indices, seven sectors closed with gains while remaining six sectors closed in negative zone. Top gainers among the sectoral indices were, BSE CG up by 1.49%, BSE Oil & Gas up by 1.31% and BSE FMCG up by 1.06%. Top losers among the BSE sectoral indices were, BSE Realty down by 1.31%, BSE HC down by 0.41% and BSE Auto down by 0.31%.
The market breadth stood in favor of declines. Of the 3021 stocks traded on the BSE, 1,370 (45.35%) rose, 1,514 (50.12%) fell and 137 (4.53%) stocks remained unchanged.
RIL stocks rose by 2.35 per cent to Rs 920.05, after surging to 52-week high of Rs 954.80 during intra-day. The company beat the market expectations and posted 24 per cent jump in its net profits for the third quarter (October-December). Shares of Reliance Industries Ltd hit a 52-week high after the company posted 24% rise in net profit for Q3. This was the company's first increase in profit after four quarters of declining returns.
Asian shares ended lower on Monday, taking a breather after hitting multi-month highs. Nikkei was down by 1.52%, while Hang Seng was down marginally by 0.05%, KOSPI was also marginally lower by 0.05% and Jakarta Composite ended lower by 0.57%. Shanghai Composite was however up by 0.48%. Outcome of the Bank of Japan’s policy meeting this week amid expectations for bold monetary easing measures is likely to decide the future market trends in Asia.
Today European indices inched towards two-year, as a political attempt to break a budget impasse in the United States revived appetite for shares and dented appetite for safe-haven assets. US stock index futures is poised for a mixed opening at the Wall Street on Monday.
So for tomorrow, the market outlook is quite flat. The market is set to open on a positive note, however profit booking may usher in as the market has ran up extensively in the last three trading session. But the underlying market sentiment is quite positive.
The benchmark BSE Sensex shot up by 62.78 points to close at 20,101.82. While the broader NSE Nifty rose by 17.90 points to end the day’s trading at 6,082.30 - its highest level since January 6, 2011. The Sensex had earlier touched a day's high of 20,163 and a day's low of 20,056. It opened at 20132. The Nifty touched a day’s high of 6,092 and a day’s low of 6,065. It opened at 6,085.
Among the 30 shares of BSE Sensex, 17 gained while 13 ended with losses. Shares of RIL, Wipro, Infosys, Tata Power, Hero MotoCorp, HUL, Bharti Airtel, ICICI Bank, ONGC, Dr Reddys Lab, and Hindalco Inds were among gainers in Sensex and Nifty. While shares of TCS, Coal India, Tata Steel, Bajaj Auto, Tata Motors, NTPC, HDFC Bank, M&M, Sun Pharma were among losers in Sensex and Nifty.
At the closing bell, the BSE Midcap index fell by 0.14% and the BSE Smallcap index rose marginally by 0.02%. Among the 13 BSE sectoral indices, seven sectors closed with gains while remaining six sectors closed in negative zone. Top gainers among the sectoral indices were, BSE CG up by 1.49%, BSE Oil & Gas up by 1.31% and BSE FMCG up by 1.06%. Top losers among the BSE sectoral indices were, BSE Realty down by 1.31%, BSE HC down by 0.41% and BSE Auto down by 0.31%.
The market breadth stood in favor of declines. Of the 3021 stocks traded on the BSE, 1,370 (45.35%) rose, 1,514 (50.12%) fell and 137 (4.53%) stocks remained unchanged.
RIL stocks rose by 2.35 per cent to Rs 920.05, after surging to 52-week high of Rs 954.80 during intra-day. The company beat the market expectations and posted 24 per cent jump in its net profits for the third quarter (October-December). Shares of Reliance Industries Ltd hit a 52-week high after the company posted 24% rise in net profit for Q3. This was the company's first increase in profit after four quarters of declining returns.
Market outlook for tomorrow
Asian shares ended lower on Monday, taking a breather after hitting multi-month highs. Nikkei was down by 1.52%, while Hang Seng was down marginally by 0.05%, KOSPI was also marginally lower by 0.05% and Jakarta Composite ended lower by 0.57%. Shanghai Composite was however up by 0.48%. Outcome of the Bank of Japan’s policy meeting this week amid expectations for bold monetary easing measures is likely to decide the future market trends in Asia.
Today European indices inched towards two-year, as a political attempt to break a budget impasse in the United States revived appetite for shares and dented appetite for safe-haven assets. US stock index futures is poised for a mixed opening at the Wall Street on Monday.
So for tomorrow, the market outlook is quite flat. The market is set to open on a positive note, however profit booking may usher in as the market has ran up extensively in the last three trading session. But the underlying market sentiment is quite positive.
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