Wednesday, April 10, 2013

Nifty Trend Tomorrow 11th April 2013

Equity benchmarks rallied after a sedate start on Wednesday, led by demand for banks and IT shares. The Sensex gained 188 points to close at 18414.45, and the Nifty rose 64 points to 5558.70.

However, brokers cautioned that the outlook remained cautious as the market was lacking triggers for a sustainable uptrend.

Reliance Communications led gainers, with the stock rising 13 percent to Rs 73.20 on expectations that the company will be able to come up a credible plan to reduce debt on the balance sheet.

J&K Bank, Reliance Infra, Adani Ports and Hexaware Tech were the other key gainers, up 4-5 percent.

IT shares firmed up ahead of Infosys fourth quarter earnings this Friday, and beaten down bank stocks recovered with brokers attributing it to short covering of positions.

“Politics is overriding things. So, I believe economic outlook, economic reforms or government actions will definitely take a backseat in this kind of a scenario,” Nishchal Maheshwari, head of research, Edelweiss Capital told CNBC-TV18 in an interview earlier today.


Posted By Commodity MCX Tips