INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Stocks changed their mind many a time today, but in the end both benchmarks Sensex and Nifty rose for Day 4 as they took comfort
from a rising rupee.
However, the upside was capped as global markets just didn't play the ball
There was no change in script by FIIs as they pushed ahead with more buying
The broader NSE Nifty ended flat at 11,058, up 5 points, or 0.05 per cent, while the BSE Sensex ended 89 points, or 0.24 per cent, higher
at 36,725.
Let's quickly see what all happened in the market.Among Sensex issues, 13 advanced while 17 declined
LT was in the lead with a jump of 2.76 per cent
Axis Bank, MM, ITC and SBI were other index gainers, rising over 1 per cent each.
Coal India was the worst performing stock, down 3.09 per
Weakness engulfed the broader market as BSE Midcap slipped 0.34 per cent and Smallcap 0.11 per cent
Sectorally, 13 of 19 indices lost
Capital goods was scored best, rising 1.51 per cent
Industrials and FCMG put up a good show too
The advance-decline ratio stood at 1:1 on the BSE.
What factors are at workRupee shines, again!
Extending its winning streak to the third
consecutive day, the domestic currency rallied against the US dollar amid firm foreign inflows
The rupee rose 32 paise against the greenback to gain past the 70-mark
Buying in index heavyweights
Select buying in index heavyweights boosted the domestic indices higher
LT, HDFC Bank, ITC, Axis Bank and RIL were among the top contributors.
Rural push ahead of elections
The Cabinet on Thursday made various
decisions, including measures to promote the hydro-power sector and provide additional funds for sugar mills
The development led to gains in FMCG stocks as it was viewed as a sign for bolstering rural demand
Expert-takeUmesh Mehta, Head of Research, Samco Securities
Post a three-day rally, Dalal Street witnessed some consolidation, which kept
Broader market indices showed signs of weakness as they traded mildly in the red, but overall market depth tilted in favour of the
bulls.
Jayant Manglik, President - Retail Distribution, Religare Broking
With no major event on the local front, we believe global cues will
continue to dictate market trend
Though the recent rise in benchmark combined with recovery in broader markets has eased some pressure, we're not completely out of the woods
Banking looks strongest among the sectoral indices while indications are mixed from others
We suggest keeping focus on stock selection and maintaining balanced portfolio.
