Daily Equity Report by www.epicresearch.co 07 August 2012
Indian equity markets up 1.28%
Nifty up 66.85 pts and settle at 5282.55
Sensex up 215.03 pts at 17412.96
Bank Nifty up 146.80 pts at 10462
European markets were up with FTSE up by 14.92 pts at 5802.20, CAC up by 18.57pts at 3392.76 and DAX up 33.60 pts at 6899.26
Dow future up 8.00 pts at 13063
Indian shares rose by 1% on Monday as better than expected payrolls data in the US and emerging optimism for solution to Euro zone debt crisis aided the rally. Inflow of foreign money too helped Indian equities as the Indian rupee appreciated by 30 paise to 55.45 against the US dollar.
The rally was also on account of hopes of some reforms in the monsoon parliament session. The 30-share BSE Sensex rose 215.03 points or 1.25% to close at 17412.96.
Meanwhile, the 50-share NSE Nifty went up 66.85 points or 1.28% to 5,282.55 led by buying interest banks, capital goods, auto and metals stocks. Index heavyweight Reliance Industries hogged the limelight, rising 5.7% due to sharp rally in crude. WTI crude gained 4.9% on Friday to USD 91.4 a barrel on jobs data and tropical storm Ernesto in Gulf of Mexico. However, state-run fuel retailer BPCL tanked 2.4%.
Mukesh Ambani group company Reliance Industrial Infrastructure jumped nearly 12%. Even Anil Dhirubhai Ambani group's stocks too gained quite smartly; Reliance Media works climbed 20% while Reliance Infrastructure, Reliance Capital, Reliance Communications, Reliance Broadcast Network and Reliance Power were up 2-8%.
Country's largest private sector lenders ICICI Bank and HDFC Bank were up 1.5-2% while their rival State Bank of India rose 0.6%. Housing finance company HDFC gained 1.5%.
Top commercial vehicle maker Tata Motors shot up 3.5% and state-owned gas transportation services provider GAIL went up 2.5%.
News you can use
Sensex ends range bound session flat
NTPC spikes 4%
Ashok Leyland july sales up 25% at9,785 units
Markets next move depends on ECB decision
Factors to watch:
Nifty looks bullish
Strategy: Buy on dips
Bank Nifty looks bullish
Strategy: Buy on dips
STOCKS TO WATCH
SCRIPS IN BAN PERIOD
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