The domestic market ended with phenomenal gains. The Asian markets witnessed firm rally that helped domestic investors gather guts to trade with positive sentiments. The positive sentiments of Asian rally was reinforced by the inflation numbers which fell by 116bps to 6.84% for the week ended December 6, 2008 as compared to 8% the week before. The rate sensitive companies’ stock rallied as the fall in inflation numbers may inspire RBI to further reduce interest rates to support demand of goods and services.
The Indian market opened positive but sooner entangled into volatility. The volatile session continued until the mid session, however the Asian markets started trading firm and later the good inflation numbers cheered the investors to trade with full swing. The European markets had little impact on the domestic trend, however Asian markets helped gain momentum. Buying in technology, capital goods, power, auto, realty, and banking helped the markets to gain further. The better than expected inflation numbers played the magic spell on the sentiments of investors. Amongst the forerunners, Realty won the race followed by Bankex, Power and CG. These sectors are all rate sensitive and the fall in inflation numbers has given a hope of further cut in interest rates by RBI to fuel the shrunken economy.
Among the Sensex pack 28 stocks ended in green territory and 2 in red with marginal losses. The market breadth was positive as 1490 stocks closed in green while 966 stocks closed in red and 91 stocks remained unchanged.
The BSE Sensex closed higher by 361.14 points at 10,076.43 and NSE Nifty ended up by 106.40 points at 3,060.75. The BSE Mid Caps and Small Caps ended with good gains of 68.39 points and 33.39 points at 3,204.56 and 3,711.95 respectively. The BSE Sensex touched intraday high of 10,110.34 and intraday low of 9,633.04.
Gainers from the BSE Sensex pack are DLF (9.56%), Jaiprakash Associates (9.36%), Reliance Infra (9.32%), ICICI Bank (9.16%) and State Bank of India with a gain of (7.88%).
Losers from the BSE Sensex pack are Grasim Industries Ltd (0.33%) and Sterlite Industries (0.11%).
BSE Realty index ended up by (7.27%) or 154.78 points at 2,283.99. Major gainers are DLF (9.56%), Unitech (9.17%) and India Bulls (8.95%).
The BSE Bankex index ended higher by (7.06%) or 370.66 points at 5,620.04 as ICICI Bank (9.16%), Axis bank (8.22%), Canara Bank (8.07%), SBI (7.88%), Indusind Bank (7.13%) ended in green.
The BSE Power index advanced (5.81%) or 101.36 points to close at 1,845.00. Main gainers are GVK Power (12.34%), Suzlon Energy (11.62%), REL Infra (9.32%), NEYVELI (7.66%) and BHEL (6.90%).
The BSE PSU index ended higher by (5.11%) or 260.08 points at 5,348.50 as Nat Alluminium (11.41%), MMTC (10%), Hindustan Petroleum (9.58%), and Canara Bank (8.07%) ended in positive territory.
The Indian market opened positive but sooner entangled into volatility. The volatile session continued until the mid session, however the Asian markets started trading firm and later the good inflation numbers cheered the investors to trade with full swing. The European markets had little impact on the domestic trend, however Asian markets helped gain momentum. Buying in technology, capital goods, power, auto, realty, and banking helped the markets to gain further. The better than expected inflation numbers played the magic spell on the sentiments of investors. Amongst the forerunners, Realty won the race followed by Bankex, Power and CG. These sectors are all rate sensitive and the fall in inflation numbers has given a hope of further cut in interest rates by RBI to fuel the shrunken economy.
Among the Sensex pack 28 stocks ended in green territory and 2 in red with marginal losses. The market breadth was positive as 1490 stocks closed in green while 966 stocks closed in red and 91 stocks remained unchanged.
The BSE Sensex closed higher by 361.14 points at 10,076.43 and NSE Nifty ended up by 106.40 points at 3,060.75. The BSE Mid Caps and Small Caps ended with good gains of 68.39 points and 33.39 points at 3,204.56 and 3,711.95 respectively. The BSE Sensex touched intraday high of 10,110.34 and intraday low of 9,633.04.
Gainers from the BSE Sensex pack are DLF (9.56%), Jaiprakash Associates (9.36%), Reliance Infra (9.32%), ICICI Bank (9.16%) and State Bank of India with a gain of (7.88%).
Losers from the BSE Sensex pack are Grasim Industries Ltd (0.33%) and Sterlite Industries (0.11%).
BSE Realty index ended up by (7.27%) or 154.78 points at 2,283.99. Major gainers are DLF (9.56%), Unitech (9.17%) and India Bulls (8.95%).
The BSE Bankex index ended higher by (7.06%) or 370.66 points at 5,620.04 as ICICI Bank (9.16%), Axis bank (8.22%), Canara Bank (8.07%), SBI (7.88%), Indusind Bank (7.13%) ended in green.
The BSE Power index advanced (5.81%) or 101.36 points to close at 1,845.00. Main gainers are GVK Power (12.34%), Suzlon Energy (11.62%), REL Infra (9.32%), NEYVELI (7.66%) and BHEL (6.90%).
The BSE PSU index ended higher by (5.11%) or 260.08 points at 5,348.50 as Nat Alluminium (11.41%), MMTC (10%), Hindustan Petroleum (9.58%), and Canara Bank (8.07%) ended in positive territory.
1 comment:
Read your blog.Liked it.Here is mine,from an Austrian point of view.Kindly read and post comments.
http://www.reasonforliberty.com/government/the-cure-for-inflation.html
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