Markets Firm In Positive, Tata Motors Up 4%.
DSIJ Intelligence / 15 Jun 2012
The Indian markets have surged nearly 1% after the European markets have opened positive. The 50 share Nifty index is back to 5100 level. Sensex has gained 160 points at this afternoon. According to our technical analyst Nifty has strong resistance at 5135 level which if broken then we see Nifty touching 5200. For today however we expect the markets to close in positive.
The national currency has also appreciated by 6 paise and is trading at 55.74 against the dollar.
In the Asian indices, Hang Seng has surged by 1.57% while Shanghai is trading nearly half per cent up. Japan’s Nikkei however closed flat over the Greece worries.
The opening in European markets is positive with 3 key markets showing gains between 0.4-0.8% in the initial trading hours. Investors and traders are buying stocks in a hope that the central banks worldwide will take monetary measures if election in Greece goes bad.
| Benchmark Indices | Current Value | Change(%) |
|---|---|---|
| SENSEX | 16,839.65 | 0.97% |
| NIFTY | 5,105.65 | 1.01% |
| Hang Seng | 19,107.56 | 1.57% |
| Shanghai | 2,306.93 | 0.48% |
| Nikkei | 8,569.32 | 0.01% |
| FTSE 100 | 5,489 | 0.41% |
| CAC 40 | 3,058 | 0.82% |
| DAX | 6,177 | 0.63% |
Back home on the sectoral front Auto, Bankex and Realty, the three interest sensitive indices have surged by over 1% each. Shares from Consumer Durables, Oil and Gas and IT are also being bought by the traders. Power index is trading at the bottom of the list in positive territory. The CG index which was down in morning is now in green.
Among the Sensex companies, shares of Tata Motors have surged by 4% after company reported 12 % jump in its global vehicle sales to 96,089 vehicles for May 2012. The jump was mainly due to the 35% rise in Jaguar Land Rover. ICICI bank, Hero MotorCorp and Coal India are up 2%. Sterlite Industries and Baja Auto are down over 1%. Shares of HDFC are flat in trades as company issued the press release which reads the HDFC disagrees with the report by the leading research house.
Among the other stocks, shares of Corporation bank are down 5%. Shares of JSW Energy have surged 3.5%. Aurobindo Pharma, GMDC, Oberoi Realty etc are currently up 3% each.
Overall the market health is positive. On the back of the same, we expect the market to make a positive end of the day.
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