MUMBAI: Equities continued to gain momentum on Thursday led by metals, banking and real estate stocks. According to reports, the government may announce its second stimulus package as early as Saturday.
Meanwhile, inflation for week ended December 20 has come in line with market expectations. It dipped to 6.38 per cent against previous week of 6.61 per cent.
“Nifty continues to see strong hurdle around levels of 3000 with support far lower at 2820 levels. Any move above 3000 levels will see indices moving closer towards levels of 3040~3060 range. Short-term hurdle for Nifty on daily chart is pegged around levels of 3040, which coincides with 50 day EMA. Any sustained close above this level may bring in fresh up move once again towards acid-test range of 3150~3200 levels for Nifty. Traders are advised to follow strict stop loss on all their trades,” said Reliance Money report.
National Stock Exchange’s Nifty was at 2988.65, up 29.50 points or 1 per cent. The broader index touched a high of 2997.25 and a low of 2963.30.
Bombay Stock Exchange’s Sensex was at 9771.80, up 124.49 points or 1.29 per cent. The index touched a high of 9777.35 and a low of 9711.64.
“Nifty has a support at 2930 followed by 2901. The resistance levels to watch would be 2995 followed by 3031. The support levels for the Sensex are at 9548 followed by 9449. The resistance levels to watch would be 9786 followed by 9925,” said Anand Rathi report.
BSE Midcap Index was at 1.87 per cent and BSE Smallcap Index was at 2.08 per cent.
Amongst the sectoral indices, BSE Metal Index was up 3.76 per cent, BSE Bankex gained 1.96 per cent and BSE Realty Index moved up 1.75 per cent.
Sterlite Industries (4.33%), Hindalco Industries (4.16%), Tata Steel (3.44%), Satyam Computers (3%) and ICICI Bank (2.73%) were the top Sensex gainers.
Ranbaxy Laboratories (-1.76%), Hindustan Unilever (-0.20%), ITC (-0.17%), Bharti Airtel (-0.16%) and NTPC (-0.11%) were the major Sensex losers.
Market breadth was positive on the BSE with 1517 advances and 509 declines.
Source: http://economictimes.indiatimes.com/Markets/Stocks/Market_News/Sensex_firm_as_inflation_eases_Hindalco_lead/articleshow/3921747.cms
Meanwhile, inflation for week ended December 20 has come in line with market expectations. It dipped to 6.38 per cent against previous week of 6.61 per cent.
“Nifty continues to see strong hurdle around levels of 3000 with support far lower at 2820 levels. Any move above 3000 levels will see indices moving closer towards levels of 3040~3060 range. Short-term hurdle for Nifty on daily chart is pegged around levels of 3040, which coincides with 50 day EMA. Any sustained close above this level may bring in fresh up move once again towards acid-test range of 3150~3200 levels for Nifty. Traders are advised to follow strict stop loss on all their trades,” said Reliance Money report.
National Stock Exchange’s Nifty was at 2988.65, up 29.50 points or 1 per cent. The broader index touched a high of 2997.25 and a low of 2963.30.
Bombay Stock Exchange’s Sensex was at 9771.80, up 124.49 points or 1.29 per cent. The index touched a high of 9777.35 and a low of 9711.64.
“Nifty has a support at 2930 followed by 2901. The resistance levels to watch would be 2995 followed by 3031. The support levels for the Sensex are at 9548 followed by 9449. The resistance levels to watch would be 9786 followed by 9925,” said Anand Rathi report.
BSE Midcap Index was at 1.87 per cent and BSE Smallcap Index was at 2.08 per cent.
Amongst the sectoral indices, BSE Metal Index was up 3.76 per cent, BSE Bankex gained 1.96 per cent and BSE Realty Index moved up 1.75 per cent.
Sterlite Industries (4.33%), Hindalco Industries (4.16%), Tata Steel (3.44%), Satyam Computers (3%) and ICICI Bank (2.73%) were the top Sensex gainers.
Ranbaxy Laboratories (-1.76%), Hindustan Unilever (-0.20%), ITC (-0.17%), Bharti Airtel (-0.16%) and NTPC (-0.11%) were the major Sensex losers.
Market breadth was positive on the BSE with 1517 advances and 509 declines.
Source: http://economictimes.indiatimes.com/Markets/Stocks/Market_News/Sensex_firm_as_inflation_eases_Hindalco_lead/articleshow/3921747.cms
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