Sensex settles at record high
Continued buying by foreign investors for the last 19 sessions and a sharp rally in PSU banks pushed
Sensex up by 130 points, to a record closing high today as Dalal-Street swung into the festive spirit
ahead of the festival of Diwali. It is Diwali already on D-Street as the buying frenzy saw the indices climb to another record closing high and the markets registering Rs 5-lakh crore plus turnover for the first time ever.
PSU banks such as Bank of India surged on better-than expected Q2 results on hopes of stability in
asset quality. With the US Federal Reserve’s sticking to record stimulus, emerging markets such as India are likely to continue to see further foreign fund inflows amid the availability of cheap money in the US.
Back home, after a steady start, markets picked up steam in the last few hours as traders rolled over
their positions on the day of the expiry of the October F&O contracts. Asian stocks ended lower today on concerns that the US Federal Reserve may start scaling back QE as soon as US economy shows further improvement.
BSE SENSEX closed at 21,164.52, up by 130.55 points and NSE Nifty ended at 6,299.15, up by 47.45
points. Sensex touched a high of 21,205 and Nifty scaled the levels of 6,309 in intra-day trades.
However, Rupee was trading at Rs 61.39 compared with previous close of Rs 61.24 per dollar.
The Market breadth, indicating the overall health of the market, was strong with 1319/1161 as
advance/decline at the close. Dr Reddy's fell on profit booking after reporting strong Q2 result. Most bank stocks gained. SBI rose after the bank announced reduction in interest rates on bulk deposits (Rs 1 crore and above) across maturities. Bank of Baroda shrugged off weak Q2 result. Bank of India surged after strong Q2 earnings. Shares of realty major DLF edged higher in choppy trade after reporting Q2 result.
Top Nifty Gainers were BOB, PNB, SBI, JP Associates & IDFC while Top Nifty Losers were Dr Reddys,
Ambuja Cement, Lupin, Sun Pharma & Ranbaxy lab among others.
Global Markets Updates:
European shares slipped further away from five-year highs on Thursday, with the Federal Reserve's
less-dovish-than-expected statement raising concerns the U.S. central bank could start trimming its
stimulus sooner than foreseen. However, both Dow and NASDAQ futures were trading lower at this evening.
Technical Parameters of NIFTY
• RSI was at 69, MACD positive above signal line; India VIX was at 18~ which all Indicate that market may see new highs if US outcome from FOMC meet does not surprise us with any negative announcements.
• Nifty closed above all its moving averages like 5DMA (6203), 20DMA (6099) 50DMA (5899) and 200DMA (5856) which all indicate that market may see new highs in the time to come if everything goes well.
Markets closed in Positive terrain with ALL major sectors closing in GREEN. But, BSE_CDs
was the Best performing Sector today.
Continued buying by foreign investors for the last 19 sessions and a sharp rally in PSU banks pushed
Sensex up by 130 points, to a record closing high today as Dalal-Street swung into the festive spirit
ahead of the festival of Diwali. It is Diwali already on D-Street as the buying frenzy saw the indices climb to another record closing high and the markets registering Rs 5-lakh crore plus turnover for the first time ever.
PSU banks such as Bank of India surged on better-than expected Q2 results on hopes of stability in
asset quality. With the US Federal Reserve’s sticking to record stimulus, emerging markets such as India are likely to continue to see further foreign fund inflows amid the availability of cheap money in the US.
Back home, after a steady start, markets picked up steam in the last few hours as traders rolled over
their positions on the day of the expiry of the October F&O contracts. Asian stocks ended lower today on concerns that the US Federal Reserve may start scaling back QE as soon as US economy shows further improvement.
BSE SENSEX closed at 21,164.52, up by 130.55 points and NSE Nifty ended at 6,299.15, up by 47.45
points. Sensex touched a high of 21,205 and Nifty scaled the levels of 6,309 in intra-day trades.
However, Rupee was trading at Rs 61.39 compared with previous close of Rs 61.24 per dollar.
The Market breadth, indicating the overall health of the market, was strong with 1319/1161 as
advance/decline at the close. Dr Reddy's fell on profit booking after reporting strong Q2 result. Most bank stocks gained. SBI rose after the bank announced reduction in interest rates on bulk deposits (Rs 1 crore and above) across maturities. Bank of Baroda shrugged off weak Q2 result. Bank of India surged after strong Q2 earnings. Shares of realty major DLF edged higher in choppy trade after reporting Q2 result.
Top Nifty Gainers were BOB, PNB, SBI, JP Associates & IDFC while Top Nifty Losers were Dr Reddys,
Ambuja Cement, Lupin, Sun Pharma & Ranbaxy lab among others.
Global Markets Updates:
European shares slipped further away from five-year highs on Thursday, with the Federal Reserve's
less-dovish-than-expected statement raising concerns the U.S. central bank could start trimming its
stimulus sooner than foreseen. However, both Dow and NASDAQ futures were trading lower at this evening.
Technical Parameters of NIFTY
• RSI was at 69, MACD positive above signal line; India VIX was at 18~ which all Indicate that market may see new highs if US outcome from FOMC meet does not surprise us with any negative announcements.
• Nifty closed above all its moving averages like 5DMA (6203), 20DMA (6099) 50DMA (5899) and 200DMA (5856) which all indicate that market may see new highs in the time to come if everything goes well.
Markets closed in Positive terrain with ALL major sectors closing in GREEN. But, BSE_CDs
was the Best performing Sector today.
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