Equities ended a ranged-bound session on a positive note on Tuesday, taking cues from positive European peers. Realty, PSU and FMCG stocks led the upmove while oil&gas and IT stocks edged lower.
Indices opened on a subdued note due to mixed cues from Asian peers. Positive opening of European markets, reports of positive advance tax numbers, and onset of monsoon helped the indices to move above psychological resistance levels.
National Stock Exchange’s Nifty was at 5222.35, up 24.65 points or 0.47 per cent. The index touched a high of 5231.45 and low of 5171.05.
Bombay Stock Exchange’s Sensex ended at 17412.83, up 74.66 points or 0.43 per cent. The 30-share index hit a low of 17249.46 and high of 17442.50
“Domestic cues are positive and broad-based buying was seen. FII participation has also increased. If Nifty manages to sustain 5200 for next few sessions then we are headed for 5240 and then 5350. On the downside, immediate support is seen at 5100,” said Anita Gandhi, Director, Arihant Capital Markets
The BSE Midcap Index was up 0.38 per cent and BSE Smallcap Index moved 0.85 per cent higher.
Amongst the sectoral indices, BSE Realty Index was up 2.60 per cent and BSE PSU Index gained 1.61 per cent. BSE IT Index declined 0.54 per cent and BSE Oil&gas fell 0.55 per cent.
PSU shares moved higher after the CCEA approved stake sale in Hindustan Copper and Coal India. Shares of ADAG group companies were in the action after reports that RIL-RNRL may sign the gas pact next week.
A consortium of PE firm Blackstone and US-based tower company Crown Castle International, Manoj Tirodkar owned GTL, and the world’s largest independent tower company, American Towers, are in talks with Anil Ambani’s Reliance Communications for acquiring its tower unit through a demerger.
Reliance Power (5.69%), Suzlon Energy (4.75%), Reliance Communications (4.30%), Sterlite Industries (3.52%) and DLF (3.06%) were amongst the top Nifty gainers.
BPCL (-5.78%), ONGC (-2.56%), TCS (-1.91%), M&M (-1.23%) and Maruti (-0.93%) resisted the upmove.
Market breadth was positive on the BSE with 1783 advances and 1326 declines.
Elsewhere, European markets were in the green after a poor start. US stock futures also indicated a positive start. At 5 pm IST, Dow Jones futures was up 0.48 per cent, S&P 500 gained 0.52 per cent and Nasdaq 100 advanced 0.61 per cent.
Source http://economictimes.indiatimes.com/Market-Review-Nifty-ends-above-5200-RPower-Suzlon-RCom-up/articleshow/6050957.cms
Indices opened on a subdued note due to mixed cues from Asian peers. Positive opening of European markets, reports of positive advance tax numbers, and onset of monsoon helped the indices to move above psychological resistance levels.
National Stock Exchange’s Nifty was at 5222.35, up 24.65 points or 0.47 per cent. The index touched a high of 5231.45 and low of 5171.05.
Bombay Stock Exchange’s Sensex ended at 17412.83, up 74.66 points or 0.43 per cent. The 30-share index hit a low of 17249.46 and high of 17442.50
“Domestic cues are positive and broad-based buying was seen. FII participation has also increased. If Nifty manages to sustain 5200 for next few sessions then we are headed for 5240 and then 5350. On the downside, immediate support is seen at 5100,” said Anita Gandhi, Director, Arihant Capital Markets
The BSE Midcap Index was up 0.38 per cent and BSE Smallcap Index moved 0.85 per cent higher.
Amongst the sectoral indices, BSE Realty Index was up 2.60 per cent and BSE PSU Index gained 1.61 per cent. BSE IT Index declined 0.54 per cent and BSE Oil&gas fell 0.55 per cent.
PSU shares moved higher after the CCEA approved stake sale in Hindustan Copper and Coal India. Shares of ADAG group companies were in the action after reports that RIL-RNRL may sign the gas pact next week.
A consortium of PE firm Blackstone and US-based tower company Crown Castle International, Manoj Tirodkar owned GTL, and the world’s largest independent tower company, American Towers, are in talks with Anil Ambani’s Reliance Communications for acquiring its tower unit through a demerger.
Reliance Power (5.69%), Suzlon Energy (4.75%), Reliance Communications (4.30%), Sterlite Industries (3.52%) and DLF (3.06%) were amongst the top Nifty gainers.
BPCL (-5.78%), ONGC (-2.56%), TCS (-1.91%), M&M (-1.23%) and Maruti (-0.93%) resisted the upmove.
Market breadth was positive on the BSE with 1783 advances and 1326 declines.
Elsewhere, European markets were in the green after a poor start. US stock futures also indicated a positive start. At 5 pm IST, Dow Jones futures was up 0.48 per cent, S&P 500 gained 0.52 per cent and Nasdaq 100 advanced 0.61 per cent.
Source http://economictimes.indiatimes.com/Market-Review-Nifty-ends-above-5200-RPower-Suzlon-RCom-up/articleshow/6050957.cms
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