Post Session: Terrific Tuesday as Sensex hits fresh 52-week high on weak US job data
06/09/2016 15:58
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Bullish trend continued at Dalal Street on Tuesday with the Sensex rallied more than 440 points and NSE Nifty reclaimed the psychological 8,900-mark tracking rally in Asian markets as worries over a near-term US interest rate hike eased after Friday’s jobs data came in below expectations. Further, surge in buying across banking, auto and consumer durables space coupled with sustained foreign fund inflows also boosted market sentiments.
The BSE SENSEX closed at 28532.11, up by 108.63 points or by 0.38 per cent, and the NSE Nifty ended at 8809.65, up by 35 points or by 0.4 per cent.
Upbeat services sector data also supported sentiment at Dalal Street. India’s services activity accelerated in August 2016 driven by a solid improvement in new order inflows and pickup in business confidence, brightening the outlook for Asia’s third biggest economy.
Meanwhile, Urjit Patel has taken charge as the new RBI governor, replacing the charismatic Raghuram Rajan.
In the bullish trade, the BSE Sensex touched intraday high of 28581.58 and intraday low of 28427.63, while the NSE Nifty touched intraday high of 8824.10 and intraday low of 8768.20.
The top gainers of the BSE Sensex pack were Adani Ports & Special Economic Zone Ltd. (Rs. 268.15,+3.55%), Bharti Airtel Ltd. (Rs. 318.95,+2.66%), Maruti Suzuki India Ltd. (Rs. 5158.50,+1.98%), Sun Pharmaceutical Industries Ltd. (Rs. 782.10,+1.50%), Mahindra & Mahindra Ltd. (Rs. 1468.85,+1.17%), among others.
Meanwhile, Coal India Ltd. (Rs. 332.50,-1.64%), Reliance Industries Ltd. (Rs. 1012.85,-1.58%), Hindustan Unilever Ltd. (Rs. 919.85,-0.73%), Infosys Ltd. (Rs. 1031.05,-0.64%), Power Grid Corporation of India Ltd. (Rs. 183.15,-0.49%), were top losers on BSE.
On the sectoral front, rate sensitive auto and realty stocks emerged as top gainers on BSE, adding as much as 1.01 per cent and 0.95 per cent respectively.
The market breadth, indicating the overall health of the market, was strong. On BSE out of total shares traded 3020, shares advanced were 1598 while 1243 shares declined and 179 were unchanged.
On the global front, the Asian shares ended on robust note amidst speculation that the US economy wasn’t strong enough for the Fed to hike interest rates this month. Employers in the US added 151,000 workers in August, compared to an upwardly revised 275,000 gain in July, against an expected 180,000 increase. Shanghai Composite and Hang Seng closed tad higher as a Chinese services gauge accelerated in August. Nikkei 225 rose as traders hoped for further stimulus form central banks.
06/09/2016 15:58
NIFTY Fut : BUY ZONE
BANKNIFTY FUT : BUY ZONE
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Bullish trend continued at Dalal Street on Tuesday with the Sensex rallied more than 440 points and NSE Nifty reclaimed the psychological 8,900-mark tracking rally in Asian markets as worries over a near-term US interest rate hike eased after Friday’s jobs data came in below expectations. Further, surge in buying across banking, auto and consumer durables space coupled with sustained foreign fund inflows also boosted market sentiments.
The BSE SENSEX closed at 28532.11, up by 108.63 points or by 0.38 per cent, and the NSE Nifty ended at 8809.65, up by 35 points or by 0.4 per cent.
Upbeat services sector data also supported sentiment at Dalal Street. India’s services activity accelerated in August 2016 driven by a solid improvement in new order inflows and pickup in business confidence, brightening the outlook for Asia’s third biggest economy.
Meanwhile, Urjit Patel has taken charge as the new RBI governor, replacing the charismatic Raghuram Rajan.
In the bullish trade, the BSE Sensex touched intraday high of 28581.58 and intraday low of 28427.63, while the NSE Nifty touched intraday high of 8824.10 and intraday low of 8768.20.
The top gainers of the BSE Sensex pack were Adani Ports & Special Economic Zone Ltd. (Rs. 268.15,+3.55%), Bharti Airtel Ltd. (Rs. 318.95,+2.66%), Maruti Suzuki India Ltd. (Rs. 5158.50,+1.98%), Sun Pharmaceutical Industries Ltd. (Rs. 782.10,+1.50%), Mahindra & Mahindra Ltd. (Rs. 1468.85,+1.17%), among others.
Meanwhile, Coal India Ltd. (Rs. 332.50,-1.64%), Reliance Industries Ltd. (Rs. 1012.85,-1.58%), Hindustan Unilever Ltd. (Rs. 919.85,-0.73%), Infosys Ltd. (Rs. 1031.05,-0.64%), Power Grid Corporation of India Ltd. (Rs. 183.15,-0.49%), were top losers on BSE.
On the sectoral front, rate sensitive auto and realty stocks emerged as top gainers on BSE, adding as much as 1.01 per cent and 0.95 per cent respectively.
The market breadth, indicating the overall health of the market, was strong. On BSE out of total shares traded 3020, shares advanced were 1598 while 1243 shares declined and 179 were unchanged.
On the global front, the Asian shares ended on robust note amidst speculation that the US economy wasn’t strong enough for the Fed to hike interest rates this month. Employers in the US added 151,000 workers in August, compared to an upwardly revised 275,000 gain in July, against an expected 180,000 increase. Shanghai Composite and Hang Seng closed tad higher as a Chinese services gauge accelerated in August. Nikkei 225 rose as traders hoped for further stimulus form central banks.
