Markets Close Positive, Nifty At 4950

Chandrakant / 28 May 2012

After opening on a positive note, the Indian markets extended their gains in the afternoon trade on the back of strong Asian markets and the positive opening in the Euro zone.

After opening on a positive note, the Indian markets extended their gains in the afternoon trade on the back of strong Asian markets and the positive opening in the Euro zone. Index heavyweights SBI and BHEL pulled the Sensex up by 200 points in the last hour of the trading session today, and the Nifty also closed with gains of 1.33%.

The Asian markets also closed on a positive note. The opinion polls in Greece have brought some hope among investors over the austerity measure plans as well. Further, as per media reports, China will use policy stimulus measures to boost the growth of its economy.

The European markets continued to trade in the positive territory which saw their first weekly gain in a month being reported last week. This was on the back of optimism from the Greek opinion polls, which showed the way to the party favouring economic bailout in the upcoming elections. The major indices, FTSE, CAC and DAX, are trading higher with gains of 0.86%, 0.0.76% and 0.51% respectively.

Dow Jones Futures is currently trading 77 points or 0.62% up at 12506, indicating a positive sentiment in the US markets.

Benchmark Indices

Index

Closing

% Change

SENSEX

16416.02

1.23

NIFTY

4985.65

1.33

Hang Seng

18800.89

0.47

Nikkei

8593.13

0.15

Shanghai

2361.37

1.18

Live

FTSE

5398.01

0.86

DAX

6372.71

0.51

CAC

3071.32

0.76

Among the major index gainers, Bankex, Power and CD closed with leading gains of 2.42%, 2.33% and 2.20% respectively.

Sectoral Indices

Category/Index

Close

Change(Pts)

Change (%)

Broad

MIDCAP

5,971.77

71.26

1.21

SMLCAP

6,373.46

55.13

0.87

BSE-100

8,617.46

107.49

1.26

BSE-200

2,026.37

25.80

1.29

BSE-500

6,350.89

77.92

1.24

Sectors

 

 

 

BANKEX

11,162.95

263.74

2.42

POWER

1,826.24

41.54

2.33

CD

6,439.41

138.85

2.2

CG

9,026.91

164.07

1.85

AUTO

9,399.91

161.02

1.74

PSU

6,798.86

69.93

1.04

REALTY

1,588.29

16.02

1.02

METAL

10,187.79

99.18

0.98

FMCG

4,631.05

40.8

0.89

TECk

3,232.60

24.75

0.77

IT

5,559.44

36.35

0.66

HC

6,677.40

37.32

0.56

OIL&GAS

7,592.46

14.83

0.2

Advance-Decline Table

Index

Advances

Declines

Unchanged

BSE 30

24

6

0

BSE 200

166

33

1

BSE 100

85

15

0

BSE 500

384

115

3

Others

1330

896

112

In individual stocks, SBI continued to trade firm after reporting strong results for the Mar 2012 quarter. The scrip closed with gains of 4.76% at Rs 2100.

MOIL closed higher with gains of 2% after the company received a prospecting license for 597 hectares of land held by the Govt. of Maharashtra.

Indian Oil rose by 0.06% to Rs 265.50 today after reporting good results for Q4FY12. Its net profit rose 224% to Rs 12670 crore, with a 32% jump in its total income to Rs 130305 crore in Q4 2012 over Q4 2011.

Among the major Sensex stock gainers, ICICI Bank is up 2.52%, Tata Motors is up 2.69% and Hindalco is up by 2.82%. GAIL, HUL, Maruti Suzuki and ONGC are among the major losers down by 2.62%, 0.82%, 1.20% and 1.26% respectively.

Investors should watch out for stocks like SAIL, HPCL, ONGC, Aurobindo Pharma, Power Grid Corp, Welspun Corp, United Spirits, Hotel Leela etc., which are due to post their March 2012 quarter results. These stocks may see a price movement.

The market breadth, which indicates the overall health of the market, was positive today. Out of the 3170 stocks traded on the BSE, 1989 advanced, 11065 declined and 116 remained unchanged.

We expect the markets to remain volatile for tomorrow as traders roll over positions from the near-month May 2012 series to the June 2012 series.

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