Best Share Market Stock Trading Daily News Update...

In the sectoral front, the IT, FMCG and Oil&Gas space contributed the most to the market rally during the session, gaining by 1.92%, 1.67% and 1.44%, respectively. However, the Banking and Healthcare space witnessed profit booking, declining by 0.70% and 0.35%, respectively.

Both the Nifty and Sensex traded on a bullish note during the first half of the session. However, during the second half, both the benchmarks started trading volatile and finally managed to close with decent gains. The positive closing for the overnight US market had boosted the sentiment in the domestic arena during morning trade.

The Dow Jones Industrial Average (DJIA) closed with a gain of 71.6 points or 0.58% at 12,350.61, while NASDAQ index finished higher by 19.91 points or 0.72% to 2,776.79. The S&P 500 (SPX) closed up by 8.82 points or 0.67% to 1,328.26. Among the Sensex pack, 23 stocks ended in positive while only 7 stocks ended in the negative terrain. The overall market breadth remained positive, as out of total 2,951 stocks traded on BSE, 1,444 stocks advanced, whereas 1,412 stocks declined and 95 stocks remained unchanged.

The BSE Sensex closed at 19,445.22, up by 155.04 points or by 0.80% and NSE Nifty closed at 5833.75, higher by 46.10 points or by 0.80%. The BSE Midcap was at 6,873.40 higher by 19.58 points or by 0.29% and the BSE SmallCap closed at 8,175.89, up by 17.22 points or by 0.21%. The BSE Sensex touched intraday high of 19,575.16 and intraday low of 19,284.35.

The top gainers of the BSE Sensex pack were Bajaj Auto Ltd (Rs. 1459.80, 2.90%), Oil And Natural Gas Corporation Ltd (Rs. 290.10, 2.76%), Tata Consultancy Services Ltd (Rs. 1182.50, 2.71%), Hindustan Unilever Ltd (Rs. 284.60, 2.50%) and Hero Honda Motors Ltd (Rs. 1586.55, 2.23%) among others.

The top losers of the BSE Sensex pack were State Bank of India (Rs. 2767.90, 3.19%), Cipla Ltd (Rs. 321.05, 2.01%), Reliance Communications Ltd (Rs. 107.70, 2.00%), Mahindra & Mahindra Ltd (Rs. 698.60, 1.61%) and Maruti Suzuki India Ltd (Rs. 1263.55, 0.95%) among others.

On the macroeconomic front, the Indian government has set a target of Rs. 40,000 crore of divestment for 2011-12 and nearly one third of it will be achieved within the first quarter. Means to reach the target will be through public issues of companies such as Cochin Shipyard and Rashtriya Ispat Nigam Ltd. Also, oil major Oil and Natural Gas Corp (ONGC) FPO is also in the pipeline. Further, the government had already given a nod to the stake sale in Power Finance Corporation (PFC) and Steel Authority of India and Hindustan Copper. Besides, many other state owned companies will also appear in the market during the next fiscal, which are MMTC, Neyveli Lignite, Ennore Ports and Nalco.
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