Much in line with what was predicted yesterday in this blog on Indian stock market; Indian equity market staged a smart recovery after three days of successive blood bath. Today’s rally in Indian stock market was fuelled by lower-than-expected core inflation data, strong US retail sales data, a higher opening in the European markets and rise in most Asian markets. Core wholesale price inflation fell below 4 percent mark for the first time in nearly 3 years, fueling hopes of rate cut by RBI on March 19. Even the unconfirmed reports of a money laundering scam in private sector banks and a rise in annual rate of inflation on monthly WPI for the month of February, 2013 failed to dampen the market sentiment.
The 30-share BSE Sensex gained 207.89 points to end the day’s trading at 19570.44. The Sensex hit to a day's high of 19604.70 and a fell to a day's low of 19179.33. It opened at 19367.26. The broader indices, NSE Nifty gained 57.75 points, to end the day’s trading at 5908.95. The 50-share Nifty touched a day's high of 5920.15 and fell to a day's low of 5791.75. It opened at 5845.95.
Of the 50-share Nifty pack 41 stocks ended with gains while the rest 9 stocks closed with loses. The top 5 gainers among NSE stocks are: SBI surging by 3.47 %, followed by Maruti (3.24 %), Ranbaxy (3.01 %), Tata Power (2.76 %) and ICICI Bank (2.30 %). The top 5 losers among NSE socks are: Bajaj Auto (2.14 %), GAIL (2.08 %), Sun Pharma (0.87 %), Bharti Airtel (0.85 %) and CAIRN India (0.37 %).
Of the 30 shares of BSE index components, 24 stocks ended in positive terrain, while the rest 6 stocks closed in negative zone. The top 5 gainer in BSE Sensex stocks are: SBI surging by 3.51 %, followed by Maruti (3.43 %), Tata Power (2.86 %), ICICI Bank (2.29 %) and HDFC Bank (2.28 %). The top 5 losers of the Sensex pack were: GAIL (2.09 %), Bajaj Auto (2.05 %), Sun Pharma (0.93 %), Bharti Airtel (0.82 %) and Hero MotoCorp (0.14 %).
Both BSE Mid Cap and Small Cap index closed around yesterday’s close. All the 13 sectoral indices closed in the green zone except BSE CD down by 1.45%, the only sector to close in the red zone. Top 3 gainers of BSE sectoral index are: BSE Realty up by 2.18%, BSE Bankex rising by 2.08% and BSE CG up by 1.34%.
In spite of the surge in today’s equity market, the market breadth stood in favor of the bears. Of the 2984 stocks traded on the BSE, 1420 (47.59%) rose, 1446 (48.46%) fell and 118 (3.95%) stocks remained unchanged.
Most of the Asian markets today closed with gains. Japan’s Nikkei gained 1.16 % in today’s trade, Hang Sang index in Hong Kong gained 0.28 %, China’s Shanghai Composite ended higher by 0.28 %, and KOSPI Index was up by 0.12 %. Markets in Taiwan were down by 0.55 % today and Straits Times lost 0.27 %. Markets in Jakarta also closed lower by 1.01 %.
European markets are trading with gains today. FTSE index in UK is trading higher by 0.74 %, the CAC index in France is up by 0.93 %, DAX index in Germany is trading up by 1.10 % and AEX Amsterdam Index is up by 1.09 %. US stock markets are trading higher at this point of time. Dow Jones Industrial Average is trading up by 0.37 %, while Nasdaq Composite Index is also trading higher by 0.28 %.
For tomorrow the market outlook for Indian market seems to be positive. Though there will be selling pressure at higher level, but under most likelihood the market is all set to inch higher.
The 30-share BSE Sensex gained 207.89 points to end the day’s trading at 19570.44. The Sensex hit to a day's high of 19604.70 and a fell to a day's low of 19179.33. It opened at 19367.26. The broader indices, NSE Nifty gained 57.75 points, to end the day’s trading at 5908.95. The 50-share Nifty touched a day's high of 5920.15 and fell to a day's low of 5791.75. It opened at 5845.95.
Of the 50-share Nifty pack 41 stocks ended with gains while the rest 9 stocks closed with loses. The top 5 gainers among NSE stocks are: SBI surging by 3.47 %, followed by Maruti (3.24 %), Ranbaxy (3.01 %), Tata Power (2.76 %) and ICICI Bank (2.30 %). The top 5 losers among NSE socks are: Bajaj Auto (2.14 %), GAIL (2.08 %), Sun Pharma (0.87 %), Bharti Airtel (0.85 %) and CAIRN India (0.37 %).
Of the 30 shares of BSE index components, 24 stocks ended in positive terrain, while the rest 6 stocks closed in negative zone. The top 5 gainer in BSE Sensex stocks are: SBI surging by 3.51 %, followed by Maruti (3.43 %), Tata Power (2.86 %), ICICI Bank (2.29 %) and HDFC Bank (2.28 %). The top 5 losers of the Sensex pack were: GAIL (2.09 %), Bajaj Auto (2.05 %), Sun Pharma (0.93 %), Bharti Airtel (0.82 %) and Hero MotoCorp (0.14 %).
Both BSE Mid Cap and Small Cap index closed around yesterday’s close. All the 13 sectoral indices closed in the green zone except BSE CD down by 1.45%, the only sector to close in the red zone. Top 3 gainers of BSE sectoral index are: BSE Realty up by 2.18%, BSE Bankex rising by 2.08% and BSE CG up by 1.34%.
In spite of the surge in today’s equity market, the market breadth stood in favor of the bears. Of the 2984 stocks traded on the BSE, 1420 (47.59%) rose, 1446 (48.46%) fell and 118 (3.95%) stocks remained unchanged.
Market outlook for tomorrow
Most of the Asian markets today closed with gains. Japan’s Nikkei gained 1.16 % in today’s trade, Hang Sang index in Hong Kong gained 0.28 %, China’s Shanghai Composite ended higher by 0.28 %, and KOSPI Index was up by 0.12 %. Markets in Taiwan were down by 0.55 % today and Straits Times lost 0.27 %. Markets in Jakarta also closed lower by 1.01 %.
European markets are trading with gains today. FTSE index in UK is trading higher by 0.74 %, the CAC index in France is up by 0.93 %, DAX index in Germany is trading up by 1.10 % and AEX Amsterdam Index is up by 1.09 %. US stock markets are trading higher at this point of time. Dow Jones Industrial Average is trading up by 0.37 %, while Nasdaq Composite Index is also trading higher by 0.28 %.
For tomorrow the market outlook for Indian market seems to be positive. Though there will be selling pressure at higher level, but under most likelihood the market is all set to inch higher.
No comments:
Post a Comment