Markets trading positively
Chandrakant / 15 Feb 2012
Indian markets opened on a strong positive note today on back of the positive cues coming from the Asian market.
Indian markets opened on a strong positive note today on back of the positive cues coming from the Asian market. Markets in previous two days remained quiet and traded flat on back of the various global events all across the globe. Moody’s downgrade ratings of six other European countries also hurt the investor’s sentiments. However China coming for the help to the resolve debt crisis of the European counties today boosted the investor’s sentiments across globe. Both Sensex and Nifty both are trading up with 1.26% and 1.28% respectively.
| Benchmark Indices | ||
|---|---|---|
| Index | Rate | % Change |
| Hang Seng | 21,330.65 | 1.94 |
| Nikkei | 9288.61 | 2.55 |
| Shanghai | 2,364.92 | 0.85 |
| SENSEX | 18,072.79 | 1.26 |
| NIFTY | 5,485.60 | 1.28 |
Asian markets are trading on a positive note today on back of the news that China will help the European countries to resolve the crisis. This brought some ray of hope among investor’s over the debt strangled European nation.
European markets too yesterday closed on a negative note as European leaders call of the meeting on austerity plan with Greek.
Back Home among the BSE sectoral Indices barring OIL& gas all indices are trading up with gains between 0.25% to 3.50%. Auto, Realty, and CG are leading with gains of 3.5%, 2.79% and 2.30% respectively. While Oil& gas is marginally down by 0.07%.
Among the Sensex shares Tata motors after reporting strong Dec quarter mainly on account of JLR sales is leading the with gains of 6.38%. While other like Bajaj Auto, Bharti Airtel, DLF, Hindalco, ICIC bank, L&T, M&M, Maruti Suzuki, and Sterlite are trading with gains between 2-4%%. While among the losers pack HUL and RIL is down by 0.65% and 0.73% respectively.
The market breadth, indicating the overall health of the market, is positive. On BSE, 1699 shares rose and 634 shares fell. A total of 88 shares remained unchanged.
In conclusion, we expect the market to remain positive for the day. Also we expect European markets to provide some vital cues on the desired direction of the market trend in late afternoon session. Nevertheless we shall keep updating you regularly through our market commentary.
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