On Friday, the Indian benchmark indices have bounced back from previous day's plunge. The markets are trading strong on fresh buying at banking, metal and realty. Back on the domestic front, government has provided additional cash subsidy of about Rs 20000 crore to oil market companies (OMCs) for fiscal 2010-11.
The Indian exports in April showing $23.9 billion in terms of revenue causing an upward shift to be witnessed with annualized growth of 34.4% for the previous month. Also, the broader market indices are trading lower as BSE Mid Cap fell by 0.9% and BSE Small Cap was down 0.5% respectively. The key benchmark indices are trading at BSE 30-share Sensex above 18,550 mark, while Nifty is above the 5,550 mark.
At 12:23PM BSE SENSEX was at 18550.6 up by 214.81 points or by 1.17 % and then NSE Nifty was at 5553.95 up by 67.8 points or by 1.24 %.
The BSE MIDCAP was at 6902.44 up by 58.28 points or by 0.85 % while the BSE SMLCAP was at 8380.19 up by 44.76 points or by 0.54 %.
The BSE Sensex touched 100 sure intraday tips high of 18590.63 and intraday low of 18280.7 The NSE Nifty touched intraday high of 5564 and intraday low of 5472.15
On the economic front, according to the government data showed on Thursday, with the fuel index prices climbing to 12.25%, India's food price index also rose7.7% in the year to April 30. The drop was recorded to lowest in 18 months. As per the previous week records, the annual food and fuel inflation were noticed to be 8.53 % and 13.53% respectively.
Additionally, as compared with an annual rise of 12.11% of the previous, the index of the primary article price was recorded to be up 11.96%. The fall in the prices of vegetable, and pulses, especially potatoes, is reasoned to be the cause behind the drop. The reserve bank of India (RBI) recently raised its interest rates 50 basis points.
On the corporate front, nnoventive Industries made a weak debut on the bourses today, opening nearly 6 per cent lower on the BSE vis-a-vis its issue price of Rs 117 per share.
Mahanagar Telephone Nigam Ltd. (MTNL) lost 2.9% to Rs 44, set for its lowest close since March 21. The company witnessed the loss of Rs 11 bn in Q4, according to reports.
The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2,584, shares advanced were 1,581 while 877 shares declined and 126 were unchanged.
The top gainers of the BSE Sensex pack were ICICI Bank Ltd. (Rs. 1079.00,+2.27%), DLF Ltd. (Rs. 232.40,+2.11%), Hindalco Industries Ltd. (Rs. 199.30,+2.05%), ITC Ltd. (Rs. 187.50,+2.01%), Jaiprakash Associates Ltd. (Rs. 86.55,+1.94%), among others.
In BSE, BSE_FMCG index was at 3780.13 up by 64.27 points or by 1.73%. Nestle India Ltd. (Rs. 4115.00,+2.29%), ITC Ltd. (Rs. 187.50,+2.01%), United Spirits Ltd. (Rs. 1069.90,+1.76%), Marico Ltd. (Rs. 135.50,+1.57%), Godrej Consumer Products Ltd. (Rs. 391.90,+1.49%).
The Indian exports in April showing $23.9 billion in terms of revenue causing an upward shift to be witnessed with annualized growth of 34.4% for the previous month. Also, the broader market indices are trading lower as BSE Mid Cap fell by 0.9% and BSE Small Cap was down 0.5% respectively. The key benchmark indices are trading at BSE 30-share Sensex above 18,550 mark, while Nifty is above the 5,550 mark.
At 12:23PM BSE SENSEX was at 18550.6 up by 214.81 points or by 1.17 % and then NSE Nifty was at 5553.95 up by 67.8 points or by 1.24 %.
The BSE MIDCAP was at 6902.44 up by 58.28 points or by 0.85 % while the BSE SMLCAP was at 8380.19 up by 44.76 points or by 0.54 %.
The BSE Sensex touched 100 sure intraday tips high of 18590.63 and intraday low of 18280.7 The NSE Nifty touched intraday high of 5564 and intraday low of 5472.15
On the economic front, according to the government data showed on Thursday, with the fuel index prices climbing to 12.25%, India's food price index also rose7.7% in the year to April 30. The drop was recorded to lowest in 18 months. As per the previous week records, the annual food and fuel inflation were noticed to be 8.53 % and 13.53% respectively.
Additionally, as compared with an annual rise of 12.11% of the previous, the index of the primary article price was recorded to be up 11.96%. The fall in the prices of vegetable, and pulses, especially potatoes, is reasoned to be the cause behind the drop. The reserve bank of India (RBI) recently raised its interest rates 50 basis points.
On the corporate front, nnoventive Industries made a weak debut on the bourses today, opening nearly 6 per cent lower on the BSE vis-a-vis its issue price of Rs 117 per share.
Mahanagar Telephone Nigam Ltd. (MTNL) lost 2.9% to Rs 44, set for its lowest close since March 21. The company witnessed the loss of Rs 11 bn in Q4, according to reports.
The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2,584, shares advanced were 1,581 while 877 shares declined and 126 were unchanged.
The top gainers of the BSE Sensex pack were ICICI Bank Ltd. (Rs. 1079.00,+2.27%), DLF Ltd. (Rs. 232.40,+2.11%), Hindalco Industries Ltd. (Rs. 199.30,+2.05%), ITC Ltd. (Rs. 187.50,+2.01%), Jaiprakash Associates Ltd. (Rs. 86.55,+1.94%), among others.
In BSE, BSE_FMCG index was at 3780.13 up by 64.27 points or by 1.73%. Nestle India Ltd. (Rs. 4115.00,+2.29%), ITC Ltd. (Rs. 187.50,+2.01%), United Spirits Ltd. (Rs. 1069.90,+1.76%), Marico Ltd. (Rs. 135.50,+1.57%), Godrej Consumer Products Ltd. (Rs. 391.90,+1.49%).
Trend for Commodity 30-Jan
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CASTOR SEED (20 NOV.) TREND: CONSOLIDATE RES1: 4870 RES2: 4950 SUPP1: 4750 SUPP2: 4700 STRATEGY: BUY ON DIPS
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