After opening on a negative note and remaining subdued for most of the day Indian markets surged in the last hour of trading on hopes of a recovery in the US growth and a better European trend before central bank policy meetings in the region. Weak Asian markets coupled with profit booking after two days of rise, kept Indian stocks under pressure for major part of the day’s trading. Improving economic growth figures in US and Europe means an improving global environment for Indian technology companies, which derive nearly 70 per cent of their revenues from the United States and Europe. Today’s rally in Indian stock market was mainly in Indian technology counters which is expected to show improve in margin figures.
The 30-share BSE Sensex gained 160.93 points to end the day’s trading at 19413.54. The Sensex hit to a day's high of 19465.52 and a fell to a day's low of 19212.92. It opened at 19252.61. The broader indices, NSE Nifty gained 34.35 points, to end the day’s trading at 5818.60. The 50-share Nifty touched a day's high of 5878.00 and fell to a day's low of 5801.30. It opened at 5801.30.
Of the 50-share Nifty pack 29 stocks ended with gains while the rest 21 stocks closed with loses. The top 5 gainers among NSE stocks are: Hero MotoCorp surging by 4.04 %, followed by DLF (3.39 %), Asian Paints (2.74 %), J P Associates (2.22 %) and L&T (2.20 %). The top 5 losers among NSE socks are: Jindal Steel (2.20 %), HUL (1.66 %), Coal India (1.26 %), Tata Motors (1.13 %) and Ultratech (1.09 %).
Of the 30 shares of BSE index components, only 20 stocks ended in positive terrain, while the rest 10 stocks closed in negative zone. The top 5 gainer in BSE Sensex stocks are: Hero MotoCorp surging by 4.05 %, followed by TCS (2.10 %), L&T (2.08 %), Maruti (2.07 %) and Wipro (1.82 %). The top 5 losers of the Sensex pack were: Jindal Steel (2.28 %), HUL (1.69 %), Coal India (1.25 %), Tata Motors (1.07 %) and Tata Steel (0.74 %).
Both BSE Mid Cap and Small Cap index closed with gains of 0.48 % and 0.85 % respectively, in today’s trade. Among the 13 sectoral indices in BSE, only 3 sectors ended in negative while 10 sectors closed in positive zone. Top 3 gainers of BSE sectoral indices are: BSE Realty up by 1.68%, BSE IT up by 1.66%, BSE CG up 1.59%. Top and only 3 losers are: BSE CD down by 0.57%, BSE Metal down by 0.43% and BSE PSU down by 0.11%.
The advance decline ratio was in favor of the bulls today. Of the 2961 stocks traded on the BSE, 1,523 (51.44%) rose, 1307 (44.14%) fell and 131 (4.42%) stocks remained unchanged.
Asian markets were weak today. Most of the Asian markets closed in red. Japan’s Nikkei gained 0.30 % in today’s trade. Jakarta Composite gained 1.54 %, Hang Sang index in Hong Kong lost 0.03 %, China’s Shanghai Composite ended lower by 0.98 %, and KOSPI Index was down by 0.81 %. Markets in Taiwan were higher by 0.13 % today and Straits Times gained 0.20 %.
European markets are trading higher today. FTSE index in UK is at present trading higher by 0.18 %, the CAC index in France is up by 0.53 %, DAX index in Germany is trading up by 0.26 % and AEX Amsterdam Index is up by 0.15 %. US stock markets are also trading with handsome gains. Dow Jones Industrial Average is trading higher by 0.34 %, while Nasdaq Composite Index is up by 0.24 %.
Thus the broad outlook for tomorrow’s market seems to be positive. Global ratings agency Moody's on Thursday said the December quarter was likely the bottom of the economic cycle and the Indian economy is headed for better times. Hope of a rate cut by RBI, expectations of more doses to revive the growth and control fiscal deficit by Finance Minister, positive global cues and expectations that the European Central Bank could point to future policy easing after its rate-setting meeting is all set to drive Indian stock market to further rise.
The 30-share BSE Sensex gained 160.93 points to end the day’s trading at 19413.54. The Sensex hit to a day's high of 19465.52 and a fell to a day's low of 19212.92. It opened at 19252.61. The broader indices, NSE Nifty gained 34.35 points, to end the day’s trading at 5818.60. The 50-share Nifty touched a day's high of 5878.00 and fell to a day's low of 5801.30. It opened at 5801.30.
Of the 50-share Nifty pack 29 stocks ended with gains while the rest 21 stocks closed with loses. The top 5 gainers among NSE stocks are: Hero MotoCorp surging by 4.04 %, followed by DLF (3.39 %), Asian Paints (2.74 %), J P Associates (2.22 %) and L&T (2.20 %). The top 5 losers among NSE socks are: Jindal Steel (2.20 %), HUL (1.66 %), Coal India (1.26 %), Tata Motors (1.13 %) and Ultratech (1.09 %).
Of the 30 shares of BSE index components, only 20 stocks ended in positive terrain, while the rest 10 stocks closed in negative zone. The top 5 gainer in BSE Sensex stocks are: Hero MotoCorp surging by 4.05 %, followed by TCS (2.10 %), L&T (2.08 %), Maruti (2.07 %) and Wipro (1.82 %). The top 5 losers of the Sensex pack were: Jindal Steel (2.28 %), HUL (1.69 %), Coal India (1.25 %), Tata Motors (1.07 %) and Tata Steel (0.74 %).
Both BSE Mid Cap and Small Cap index closed with gains of 0.48 % and 0.85 % respectively, in today’s trade. Among the 13 sectoral indices in BSE, only 3 sectors ended in negative while 10 sectors closed in positive zone. Top 3 gainers of BSE sectoral indices are: BSE Realty up by 1.68%, BSE IT up by 1.66%, BSE CG up 1.59%. Top and only 3 losers are: BSE CD down by 0.57%, BSE Metal down by 0.43% and BSE PSU down by 0.11%.
The advance decline ratio was in favor of the bulls today. Of the 2961 stocks traded on the BSE, 1,523 (51.44%) rose, 1307 (44.14%) fell and 131 (4.42%) stocks remained unchanged.
Market outlook for tomorrow
Asian markets were weak today. Most of the Asian markets closed in red. Japan’s Nikkei gained 0.30 % in today’s trade. Jakarta Composite gained 1.54 %, Hang Sang index in Hong Kong lost 0.03 %, China’s Shanghai Composite ended lower by 0.98 %, and KOSPI Index was down by 0.81 %. Markets in Taiwan were higher by 0.13 % today and Straits Times gained 0.20 %.
European markets are trading higher today. FTSE index in UK is at present trading higher by 0.18 %, the CAC index in France is up by 0.53 %, DAX index in Germany is trading up by 0.26 % and AEX Amsterdam Index is up by 0.15 %. US stock markets are also trading with handsome gains. Dow Jones Industrial Average is trading higher by 0.34 %, while Nasdaq Composite Index is up by 0.24 %.
Thus the broad outlook for tomorrow’s market seems to be positive. Global ratings agency Moody's on Thursday said the December quarter was likely the bottom of the economic cycle and the Indian economy is headed for better times. Hope of a rate cut by RBI, expectations of more doses to revive the growth and control fiscal deficit by Finance Minister, positive global cues and expectations that the European Central Bank could point to future policy easing after its rate-setting meeting is all set to drive Indian stock market to further rise.
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