Equity/Stock market
Third Straight Trading day,Continuing its upward march for the the BSE Sensex jumped by 130 points today & closed at one-week high of 20,160.82 and the NSE Nifty regained the 6,100-level on heavy buying in RILBSE,Coal India, Hero MotoCorpBSE and ITC shares.
The 50-share National Stock Exchange index Nifty regained the key 6,100 level after a gap of nearly a week by rising 28.10 points, or 0.46 per cent, to 6,111.25. The 30-share index, which had gained 356 points in the last two trading sessions or 0.65 per cent to close at 20,160.82. This is Sensex's highest closest since 20,223.98 on May 20. Also, the MCX-SX index SX40 closed higher by 51.64 points, or 0.43 per cent, at 11,947.27.
Hero MotoCorp was the star performer of the day rising over 5 per cent on BSE ahead of monthly sales report. Coal IndiaBSE 3.01 % Ltd (CIL) shares rose over 3 per cent on robust earnings and first price hike in two years. RIL, which attracted buyers for the second day on new gas find, jumped nearly 2 per cent.
An Analyst Reportes that ,This week has started with recovery from lower levels and Nifty is once again above 6,100 level and Sensex above 20,000 level -- psychologically important for confirming further uptrend.In sector-wise indices, BSE Oil and Gas sector index gained the most by rising 1.65 per cent to 8,950.96, followed by auto index by 1.33 per cent to 11,076.54.
GAIL ended marginally higher after Q4 profit rose 28 per cent. Outside broader indices, earnings-related action was seen in Havells India which touched a new high, CESC rose over 2 per cent, Colgate and Tata Global
But,Muthoot and Manappuram ended lower after RBI imposed fresh restrictions on banks and NBFCs for providing loans against gold coins as well as units of gold ETFs etc.
AstraZeneca Pharma India slumped over 16 per cent after the company intimated floor price for OFS at a substantial discount to the prevalent market price.
MCX Gold:
Gold Tumbled due to Strong Equity markets & Dollar Firmness.Demand in the physical market continued to hold prices near $1,400 an ounce as the recent drops in the spot market lured buyers to invest in bullion.Russia, Turkey and Kazakhstan were among central banks buying gold in April to diversify their strategic portfolio, data from the International Monetary Fund showed on Monday.Demand in India, the world's biggest gold market, was subdued as the peak wedding season cools off, and its central bank is taking more steps to curb gold purchases.
On Monday, the Reserve Bank of India said banks would not be allowed to give loans against units of gold exchange-traded funds and gold mutual funds.
USDINR
Today Indian Rupee Falling to nearly nine-month lows,closed just shy of 56-level against the dollar after it slumped by 39 paise to end at 55.96, weighed down by month-end demand for the US currency from importers and defence-related purchases.The rupee had weakened through most of the session, with traders attributing it to dollar demand to meet defence-related payments. That demand was offset by exporter selling of dollars and expectations the central bank would intervene, should the rupee fall below the psychological 56-per-dollar mark.
The dollar strengthening against major currencies overseas also put pressure on the rupee which struggled to recover despite over USD 125 million inflows coming into domestic stocks.
Traders said a fall in other Asian currencies also hurt the rupee. The Philippine peso slid to an eight-month low against a broadly firmer dollar on Today.The rupee has fallen heavily this month despite huge foreign inflows into stocks and debt amidst a global rally in the dollar and concerns about India's current account deficit.
No comments:
Post a Comment