Thursday, May 2, 2013

Market Closing : Trend For Tomorrow 3 May 2013

Sensex & Nifty rose on Thursday to mark their highest close since February, as interest rate-sensitive stocks gained on expectations that the Reserve Bank of India(RBI) will cut interest rates on Friday, while technology shares such as TCS rose on value buying. 

Analysts are expecting the central bank to cut interest rate by 25 basis points following which the Nifty is likely to consolidate with negative bias. A 50 bps point rate cut may push the index to 6,100 level and no rate cut may lead to a correction of over 100 points. 

The 50-share index ended at 6,002.45, up 72.25 points or 1.22 per cent. It touched a high of 6,019.45 and a low of 5,910.95 in trade today. 

The Sensex was at 19,733.76, up 229.58 points or 1.18 per cent. It touched a high of 19,792 and a low of 19,451.26 in trade today. 

The S&P BSE Midcap Index was up 0.77 per cent and the S&P BSE Smallcap Index was 0.62 per cent higher. 

Among the sectoral indices, the S&P BSE IT Index gained 2.47 per cent, the S&P BSE Capital Goods Index was 1.72 per cent higher, the S&P BSE Realty Index gained 1.42 per cent and the S&P BSE Oil & Gas Index was up 1.10 per cent. 

Reliance Infrastructure (3.52 per cent), HCL Tech (3.41 per cent), TCS (3.38 per cent), Jaiprakash Associates (3.06 per cent) and M&M (3.02 per cent) were among the top Nifty gainers. 

Shares of M&M gained after the company's total sales for the month of April increased to at 41,432, up 2 per cent, as compared to 40,715 units, year-on-year (y-o-y). 

Cairn India (1.97 per cent), Hindustan Unilever (1.95 per cent), Hero MotoCorp (1.79 per cent), Hindalco (1.49 per cent) and Tata Motors (1.17 per cent) were among the top losers.

Market breadth was positive on the NSE with 774 gainers against 530 losers. 

Foreign institutional investors bought shares worth Rs 876.93 crore while domestic institutional investors sold equities worth Rs 347.17 crore on Tuesday as per the provisional data from the National Stock Exchange


Posted By Commodity MCX Tips