Sensex rallies over 200 points; rupee below 61/$
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MUMBAI: The S&P BSE Sensex gained momentum after a positive start and rallied over 200 points as institutional investors continued to buy shares across the board. All the sectoral indices were in the green with banks, oil & gas and metals leading the upmove.
Meanwhile, the rupee hit 2-month high on the back of dollar inflows. It touched highest level since August, 13. The partially convertible rupee was at 60.93, up 0.48 per cent against its previous close.
At 10:00 a.m.; the 30-share index was at 20,650.63, up 235.12 points or 1.15 per cent. It touched a high of 20,655.42 and a low of 20,486.78 in trade today.
The Nifty was at 6,116.85, up 71 points or 1.17 per cent. The index touched intraday high of 6,120.65 and a low of 6,070.90.
"Nifty after taking support at a rising window pattern is likely to observe a gap up opening; the index is likely to breach the immediate resistance of 6,140 levels and the rally would extend towards the 6,250 in the near future," said Nirmal Bang report.
"The Bank Nifty faces strong resistance around the 10,400 &10,450 levels on the upside where selling pressure is expected and only on close above one can expect rise to 10,650 & 10,700 levels. There is an Immediate Support at 10,250 levels on the downside," the report added.
The S&P BSE Midcap Index was up 0.90 per cent and the S&P BSE Smallcap Index gained 0.60 per cent.
Among the sectoral indices, the S&P BSE Bankex was up 2.07 per cent, the S&P BSE Oil & Gas Index gained 1.23 per cent, the S&P BSE Metal Index moved up 1.18 per cent and the S&P BSE Realty Index was 1.14 per cent higher.
The S&P BSE Capital Goods Index was down 0.18 per cent.
ICICI BankBSE 2.73 % (2.95 per cent), HDFC (1.85 per cent), SBI (1.81 per cent), Dr Reddy's Laboratories (1.78 per cent) and Sesa Sterlite (1.63 per cent) were among the major Sensex gainers.
Bajaj AutoBSE -0.46 % (0.44 per cent) and TCS (0.32 per cent) were the only index losers.
The market breadth was positive on the BSE with 972 gainers against 283 losers.
The foreign institutional investors bought shares worth Rs 1,109.93 crore while domestic institutional investors were net sellers worth Rs 1,149.22 crore on Friday as per the provisional data from the National Stock Exchange.
The Asian markets were witnessing some buying action on reports that China's economy grew at 7.8 per cent.
The Hang Seng was 0.64 per cent higher, the Shanghai Composite moved up 0.43 per cent and the Taiwan Weighted advanced 0.53 per cent. The Nikkei 225 was down 0.30 per cent.
Meanwhile, the rupee hit 2-month high on the back of dollar inflows. It touched highest level since August, 13. The partially convertible rupee was at 60.93, up 0.48 per cent against its previous close.
At 10:00 a.m.; the 30-share index was at 20,650.63, up 235.12 points or 1.15 per cent. It touched a high of 20,655.42 and a low of 20,486.78 in trade today.
The Nifty was at 6,116.85, up 71 points or 1.17 per cent. The index touched intraday high of 6,120.65 and a low of 6,070.90.
"Nifty after taking support at a rising window pattern is likely to observe a gap up opening; the index is likely to breach the immediate resistance of 6,140 levels and the rally would extend towards the 6,250 in the near future," said Nirmal Bang report.
"The Bank Nifty faces strong resistance around the 10,400 &10,450 levels on the upside where selling pressure is expected and only on close above one can expect rise to 10,650 & 10,700 levels. There is an Immediate Support at 10,250 levels on the downside," the report added.
The S&P BSE Midcap Index was up 0.90 per cent and the S&P BSE Smallcap Index gained 0.60 per cent.
Among the sectoral indices, the S&P BSE Bankex was up 2.07 per cent, the S&P BSE Oil & Gas Index gained 1.23 per cent, the S&P BSE Metal Index moved up 1.18 per cent and the S&P BSE Realty Index was 1.14 per cent higher.
The S&P BSE Capital Goods Index was down 0.18 per cent.
ICICI BankBSE 2.73 % (2.95 per cent), HDFC (1.85 per cent), SBI (1.81 per cent), Dr Reddy's Laboratories (1.78 per cent) and Sesa Sterlite (1.63 per cent) were among the major Sensex gainers.
Bajaj AutoBSE -0.46 % (0.44 per cent) and TCS (0.32 per cent) were the only index losers.
The market breadth was positive on the BSE with 972 gainers against 283 losers.
The foreign institutional investors bought shares worth Rs 1,109.93 crore while domestic institutional investors were net sellers worth Rs 1,149.22 crore on Friday as per the provisional data from the National Stock Exchange.
The Asian markets were witnessing some buying action on reports that China's economy grew at 7.8 per cent.
The Hang Seng was 0.64 per cent higher, the Shanghai Composite moved up 0.43 per cent and the Taiwan Weighted advanced 0.53 per cent. The Nikkei 225 was down 0.30 per cent.
NAME- SHYAM KISHOR SINGH
PGDM-1sem
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