The market breadth in BSE remains firm with 1,274 shares advancing and 702 shares declining
Benchmark indices continue to remain firm as the rupee rose today after the new RBI Governor Raghuram Rajan announced plans to bolster the financial industry and stabilize the rupee.
Buying among financial sector and firm global cues has also buoyed the sentiments among local investors.
At noon, the rupee was trading at Rs 66.02 compared with previous close of Rs 67.09 per dollar. The rupee had opened at Rs 66.10 today.
At 1315 hrs, the Sensex was up 405 points at 18,973 and the Nifty gained 140 points to trade at 5,588.
According to Chetan Jain, Deputy Manager (Derivatives Desk) - Equity Research, Anand Rathi Financial Services, “Nifty future has been witnessing huge volatility in last couple of weeks with zigzag movements continuing in the market, INDIAVIX has broken 21 month long consolidation range and now entered into higher territory of 22-36 levels indicating this volatility is likely to continue for next coming months till next elections.”
On the global front, Asian stocks rose to three-week highs on Thursday as Indian shares and the rupee rallied a day after the country's new central bank chief unveiled measures to support the currency and the banking sector.
Tokyo's Nikkei closed a touch firmer, having lost a bit of steam after hitting a one-month high.
Back home, BSE Bankex index has zoomed by over 8% followed by counters like Consumer Durables, Realty, PSU, FMCG, Capital Goods, Power and Oil & Gas, all gaining between 2-4%. However, BSE IT index has slumped by nearly 3%.
Banking shares on a roll on the bourses after the Reserve Bank of India (RBI) announced a slew of measures to benefit retail investors and revive the Indian economy.
YES Bank, Axis Bank, IndusInd Bank, Kotak Mahindra Bank and ICICI Bank have rallied more than 8% each, while HDFC Bank, Bank of Baroda, Federal Bank, Bank of India, Punjab National Bank and Union Bank of India are up 5-7% on the BSE.
Oil and Natural Gas Corporation (ONGC) has surged 5% to Rs 269, extending its previous day’s 2.4% rally, on price hike buzz.
Other notable gainers are BHEL, ITC, L&T, Coal India, Tata Motors and Maruti Suzuki.
Shares of information technology (IT) are trading lower in otherwise firm market after the Indian rupee strengthens against the US dollar.
Among the individual stocks, Tata Consultancy Services (TCS) has dipped 3% at Rs 2,011 on BSE. The stock opened at Rs 2,075 and hit a low of Rs 1,990 so far.
Infosys and HCL Technologies are down by 2% each, while Wipro, Tech Mahindra and MphasiS down around 1% each at 1015 hours.
The market breadth in BSE remains firm with 1,274 shares advancing and 702 shares declining.
Benchmark indices continue to remain firm as the rupee rose today after the new RBI Governor Raghuram Rajan announced plans to bolster the financial industry and stabilize the rupee.
Buying among financial sector and firm global cues has also buoyed the sentiments among local investors.
At noon, the rupee was trading at Rs 66.02 compared with previous close of Rs 67.09 per dollar. The rupee had opened at Rs 66.10 today.
At 1315 hrs, the Sensex was up 405 points at 18,973 and the Nifty gained 140 points to trade at 5,588.
According to Chetan Jain, Deputy Manager (Derivatives Desk) - Equity Research, Anand Rathi Financial Services, “Nifty future has been witnessing huge volatility in last couple of weeks with zigzag movements continuing in the market, INDIAVIX has broken 21 month long consolidation range and now entered into higher territory of 22-36 levels indicating this volatility is likely to continue for next coming months till next elections.”
On the global front, Asian stocks rose to three-week highs on Thursday as Indian shares and the rupee rallied a day after the country's new central bank chief unveiled measures to support the currency and the banking sector.
Tokyo's Nikkei closed a touch firmer, having lost a bit of steam after hitting a one-month high.
Back home, BSE Bankex index has zoomed by over 8% followed by counters like Consumer Durables, Realty, PSU, FMCG, Capital Goods, Power and Oil & Gas, all gaining between 2-4%. However, BSE IT index has slumped by nearly 3%.
Banking shares on a roll on the bourses after the Reserve Bank of India (RBI) announced a slew of measures to benefit retail investors and revive the Indian economy.
YES Bank, Axis Bank, IndusInd Bank, Kotak Mahindra Bank and ICICI Bank have rallied more than 8% each, while HDFC Bank, Bank of Baroda, Federal Bank, Bank of India, Punjab National Bank and Union Bank of India are up 5-7% on the BSE.
Oil and Natural Gas Corporation (ONGC) has surged 5% to Rs 269, extending its previous day’s 2.4% rally, on price hike buzz.
Other notable gainers are BHEL, ITC, L&T, Coal India, Tata Motors and Maruti Suzuki.
Shares of information technology (IT) are trading lower in otherwise firm market after the Indian rupee strengthens against the US dollar.
Among the individual stocks, Tata Consultancy Services (TCS) has dipped 3% at Rs 2,011 on BSE. The stock opened at Rs 2,075 and hit a low of Rs 1,990 so far.
Infosys and HCL Technologies are down by 2% each, while Wipro, Tech Mahindra and MphasiS down around 1% each at 1015 hours.
The market breadth in BSE remains firm with 1,274 shares advancing and 702 shares declining.
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