Mid Session Nifty Trading Report on 09-Oct-2014 An exclusive report by Sharetipsinfo.com
Overview: The Indian markets rebounded made a gap up opening and are trading jubilantly in early deals with frontline gauges surpassing their crucial 7900 level. Major headlines: • Industrial output likely rose 2.4 percent in August • Cummins India shares gain, Deutsche upgrades to buy • Hindalco surges, rival Alcoa earnings beat forecasts
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Indian Indices: Indian equity markets are continuing their momentum with uniform pace and both the major indices were trading up by over a percent in late morning session. There is no sign of profit booking from any corner and the gains are visible across the board. Traders are picking up beaten down stocks at lower valuation, also there was support from the money market with rupee extending its rising streak for the fourth straight day after the dollar weakened overseas. - For free trial give us a missed call at +91 8030088464
Indian Indices: Review There was some support with a private report saying that Indian industrial output probably bounced in August from a four-month low, driven by solid growth in core industries. While, the broader indices are outperforming the benchmarks, all the sectoral indices are managing to hold their early gains, led by Capital Goods and Realty. Meanwhile, with an aim to increase the domestic urea production, the Fertilizer Ministry has notified New Urea Investment Policy for setting up and expansion of urea plants in the country. - For free trial give us a missed call at +91 8030088464
Indian Indices: BSE Sensex The BSE Sensex is currently trading at 26539.27, up by 292.48 points or 1.11% after trading in a range of 26394.21 and 26571.66.
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Indian Indices: BSE & CNX Nifty There were 27 stocks advancing against 3 stocks declining on the index. The broader indices were trading in green; the BSE Mid cap index was up by 1.35%, while Small cap index gained 1.48%.The CNX Nifty is currently trading at 7929.10, up by 86.40 points or 1.10% after trading in a range of 7886.50 and 7940.70. There were 45 stocks advancing against 5 stocks declining on the index.
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Market Sentiment: The market breadth on the BSE was positive; there were 1562 shares on the gaining side against 385 shares on the losing side while 53 shares remain unchanged.
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Microeconomic Front: Expressing concern over high exposure of banks to infrastructure and real estate sectors, RBI Deputy governor R Gandhi today cautioned lenders saying they “cannot put all eggs into one basket�. As an alternative, the deputy governor suggested looking at corporate bonds market, which is being encouraged by both the central bank and the government. “Together, the real estate and infrastructure sectors account for 25 per cent of the total credit exposure. - For free trial give us a missed call at +91 8030088464
On the Global Front: The US markets rallied and ended considerably higher in last session, reacting positively to the minutes of the latest Federal Reserve meeting, where some Fed officials expressed concerns about global economic weakness and the impact of a stronger US dollar. The Asian markets were trading mostly in the green at this point of time as Federal Reserve concerns over a global economic slowdown spurred bets that US interest rates will remain low. - For free trial give us a missed call at +91 8030088464
On the Global Front: The Asian markets were showing mixed trend, FTSE Bursa Malaysia KLCI increased by 5.57 points or 0.31% to 1,829.89, Taiwan Weighted was up by 11.09 points or 0.12% to 8,966.27, Straits Times added 25.21 points or 0.78% to 3,251.92, Jakarta Composite gained 45.67 points or 0.92% to 5,004.19 and Hang Seng was higher by 225.21 points or 0.97% to 23,488.54
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Nifty Movers: The top gainers on Nifty were Hindalco up by 5.51%, BHEL up by 3.83%, PNB up by 2.80%, Bank Of Baroda up by 2.51%, SBI up by 2.48%. On the flip side, Tech Mahindra down by 0.81%, NMDC down by 0.46%, Mahindra & Mahindra down by 0.32%, Bajaj Auto down by 0.15% and ITC down by 0.12% were the top losers.
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Top Sectoral & Stock Screening: The gaining sectoral indices on the BSE were Capital Goods up by 1.72%, Realty up by 1.67%, Bankex up by 1.52%, Metal up by 1.30%, Power up by 1.26%, while none of the sectoral gauges was in red.
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