Skip to main content

SenSex ......Kisses 20,000

The BSE benchmark Sensextoday regained 20,000 level for the first time in over three months on sustained capital inflows and better earnings, but slipped to close a tad lower.
After hitting 20,000 level, the Sensex closed 101.23 points, or 0.51 per cent, at 19,990.18, a level last seen on January 31. It had gained 313 points in last two sessions.
HDFC rose 3.7 per cent, closing at its all-time high, after it reported a 17.3 per cent rise in net profit for the Jan-March quarter.
The current upsurge was supported bystocks of FMCG, oil and gas and banking sectors, besides a rally in HDFC Ltd and Lupin Ltd on better earnings.
The broad-based National Stock Exchange index Nifty rose by 25.75 points, or 0.43 per cent, to 6,069.30.
MCX Stock Exchange (MCX-SX) flagship index SX40 rose 65.53 points, 0.56 per cent, to close at 11,796.74 points today.
Brokers said the market remained in bullish mode ever since the Reserve Bank of India cut key interest rate to bolster economic growth last week and heavy foreign funds inflows.
Foreign funds bought a net $171 million of Indian shares in the previous session, extending their net investment this year to $12 billion, a record for the period.
They said a firming global trend as China's exports topped estimates and European central bank cutting interest rates to revive economy, further fuelled the uptrend.
In 30-BSE index components, 14 stocks gained led by HDFC Ltd, HDFC Bank, ITC Ltd,Reliance IndustriesBSE 0.24 % and Infosys, Tata Consultancy Services.

The FMCG sector index gained the most by 1.43 per cent to 6,752.61 followed by oil and gas index by 0.11 per cent to 8,850.12. Banking index rose by 0.11 per cent to 14,453.21 and healthcare index by 0.08 per cent to 8,882.43.

Comments

Popular posts from this blog

Wizard of Dalal Street: Govind Parikh's investment mantra

Wizard of Dalal Street: Govind Parikh's investment mantra Govind Parikh of Govind Parikh Securities says selling right is more important than correct buying. He says it is necessary to keep a lot of cash. "We keep an average 10 percent cash in our portfolio," he says I like to buy things in a bad market. Additionally, don't look current cash flow, concentrate on future cash flows — that is what  I look at," says Govind Parikh of Govind Parikh Securities. He advises investors to buy good quality stocks when the market crashes. While sharing his investment philosophy with ace investor Ramesh Damani, on the Wizards of Dalal Street, Parikh says management integrity is very important when deciding which stock to bet on. He tells investors not to buy stocks impulsively. According to him, selling right is more important than correct buying. He says it is necessary to keep a lot of cash. "We keep an average 10 percent cash in our portfolio," he says. He al...

Bank Nifty

Bank Nifty Bank Nifty is a Sell at Current Levels with a Stop Loss of 12,750 Once Below 12,400 the next major Support shall be only 12,000 Levels so a person can go short is bearish or buy putt if moderately bearish . 

GST ........

In the biggest tax reform since Independence, the national sales tax or GST Bill was today approved by the Rajya Sabha to replace a raft of different state and local taxes with a single unified value added tax system to turn the country into world's biggest single market. The 66-year-old Constitution, which gives power to Centre to levy taxes like excise, and empowers states to collect retail sales taxes, was amended though the 122nd Constitution Amendment Bill. Prime Minister Narendra Modi said the GST will "also be the best example of cooperative federalism" and "Together we will take India to new heights of progress". The legislation was approved by the Upper House with 203 votes in favour and none against, after a seven-hour debate during which a rare bonhomie was witnessed among the ruling and the opposition parties. Replying to the debate, Finance Minister Arun Jaitley said the GST rate will be kept "as low as possible" but did not commit t...