The Sensex is up 144.85 points at 27350.91 and the Nifty is up 42.50 points at 8266.70. About 1486 shares have advanced, 1054 shares declined, and 183 shares are unchanged. Banks, infra, auto and FMCG stocks support benchmark indices. SBI, HDFC, M&M, Bharti Airtel and Axis Bank are top gainers in the Sensex. Among the losers are NTPC, Vedanta, Coal India, Tata Steel and GAIL. According to Ridham Desai, Managing Director, Morgan Stanley, 8000 is a good level for the Nifty. However, he continues to maintain his year-end Sensex target at 32500. Shares of Tata Steel slipped 3 percent intraday on Friday. Investors are concerned as it will provide a non-cash write down of goodwill and assets amounting to Rs 5000 crore which will reflect in its forthcoming FY15 results. This impairment pertains to the long products UK business in Tata Steel Europe.
The rupee is trading strong by five paise at 63.60 against the dollar tracking firm local equities amid sustained dollar selling by exporters.
Rate sensitive stocks are gaining in today’s session as sustained fall in consumer inflation prices has given boost to hopes of a rate-cut by Reserve Bank of India. Mortgage lender, HDFC and Axis Bank have gained 1.4% each, SBI, Axis Bank, M&M, Tata Motors, Bajaj Auto, Maruti Suzuki and HDFC twins are trading higher up to 2.5%.
CapitalStars is a research house and an investment advisory company carrying out operations in the Indian Equities and commodity market. CapitalStras also ave liable on linke din and facebook. Get real time advice for Share Tips , Trading Strategies , Best Intraday Stocks , Stock Tips Free, MCX Trading Tips and all market updates. For 2 Days Free Trial ,Please visit our site http://www.capitalstars.com Call at 0731-6790000, 6669900.
0 comments:
Post a Comment