Nifty Tips
Equity benchmarks rallied Monday, with theSensex now having risen close to 1000 points from the low seen the Friday before last. Dealers said hopes of increased money flows into equities because of the recent weakness in commodity prices, as well an improvement in India’s macroeconomic fundamentals, were driving the uptrend, brokers said.
Brokerage house Nomura has listed India, Korea, Thailand and Philippines as the biggest likely winners in terms of higher growth, lower inflation and/or better economic fundamentals, if the fall in commodity prices sustained.
The BSE Sensex closed at 19,169.83, up 153.37, up points over the previous close. The Nifty gained 51.30 points to close at 5834.40.
Metals, banks, capital goods and realty shares were among the best performers as bears scurried to square up their short positions in anticipation of further buying.
Tata Steel, Hindalco, Coal India, Larsen & Toubro, HDFC Bank, Bhel and Reliance Infra were among the key gainers in the Nifty, climbing 3-4 percent.
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