Posts Tagged ‘BSE sectoral indices’

Festivals and Trading Holidays Set to Keep Dalal Street Less Lively This Week :)

Despite bullish sentiment on hopes of strong quarterly results from firms, the Dalal Street is likely to less lively this week

Despite bullish sentiment on hopes of strong quarterly results from firms, the Dalal Street is likely to less lively this week

Despite bullish sentiment on hopes of strong quarterly results from firms, the Dalal Street is likely to less lively this week, as festive mood and fewer trading sessions would see investors withhold their positions and postpone buying, analysts said.

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Brokers believe the market sentiment will remain positive, even as investors will get only three trading sessions before the second quarter results of companies starts coming in.

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“The market is expected to remain in consolidation phase on the back of less trading sessions and festive season,” SMC Global Vice-President Rajesh Jain said.

The market would trade only for three days this week, as Monday and Friday will be trading holidays on the occasion of ‘Dussera‘ and ‘Gandhi Jayanti‘, respectively.

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Over the week, the BSE Sensex slid 193.43 points, or nearly 1.14 per cent and closed at 16,693 points.

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The under current in the market is bullish, there are not much expectations by investors for this week, while stocks may also look for global cues,experts observed.

The result season will kick start with IT major Infosys scheduled to announce its second quarter results on October 9.

During the last week, foreign institutional investors have put in over Rs 6,528.1 crore in Indian markets.

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Indian Stocks Rose to a 15-Month High :)

Indian-stocks-15-month high

Indian stocks rose to a 15-month high yesterday. 🙂

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DLF Ltd led gains as investors judged recent declines as excessive. Mahindra & Mahindra Ltd climbed on a report it will make sports utility vehicles for overseas markets.

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DLF, the biggest real estate developer, jumped 5.5% after losing 10% in the previous five trading sessions.

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Mahindra & Mahindra, the largest sports utility vehicle maker, advanced 1.5%.

Sterlite Industries (India) Ltd, the No 1 copper producer, added 3.8% after metals prices climbed.

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The Bombay Stock Exchange’s Sensitive Index (Sensex), rose 240.26, or 1.5%, to 16,454.45, the highest since May 28, 2008.

The gauge declined 0.3% on Monday, snapping a six-day rally.

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“There is strong liquidity supporting the market,” Jagannadham Thunuguntla, the head of equities at SMC Capitals Ltd in New Delhi. “Yesterday’s fall has made some stocks attractive.”

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The rupee advanced against the US dollar as overseas investors added to holdings of the nation’s assets amid signs economic growth is quickening.

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The rupee climbed 0.2% to 48.655 per dollar at the 5pm close in Mumbai, according to data compiled by Bloomberg.

The currency has risen 0.4% this month.

India’s $1.2tn economy expanded 6.1% in the three months to June from a year earlier, accelerating for the first time since 2007, the government said last month.

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Market trading firm: Sensex hits 10-month high :)

Sensex hits 10-month high

Sensex hits 10-month high

After a gap up opening, the domestic markets are marching towards the northward on the back of strong rally across other Asian markets. Further, bulls are driving the major Indian bourses to its highest in 10 months, with an expectation that the government will increase public spending in the budget next month to boost economic growth.

Buying interest has emerged across all the sectoral indices.

Among the BSE sectoral indices, Metal, Consumer Durable (CD) and Capital Goods (CG) stocks gained by 3.80%, 3.51% and 3.46% respectively.

Overall market breadth is positive. Out of the total 2,482 stocks traded at BSE, 1,670 advanced, 759 declined while 53 remained unchanged.

Gainers from the BSE Sensex Pack are Tata Power Company Ltd,HDFC Bank, Reliance Infrastructure, L&T, Sterlite Industries and ONGC.

SMC Global Securities : Money Wise Be Wise !

http://www.smcindiaonline.com/index.asp