Monday, 15 February 2016

MARVELOUS MONDAY!! MARKET SHOWED POSITIVE MOOD

After a long time Sensex closed up 568 points at 23554.12 and the Nifty was up 182 points at 7162.95. after the Chinese central bank PBoC allayed some fears over depreciating yuan by setting its fixing at a 1 month high .Reeling under the impact of gross budgetary support cut and falling revenue collection, Railways is firming up plans to to slash operational cost and working expenses considerably to meet its financial requirement. Fall in crude oil futures is mostly in step with a weak trend in Asian trade after soaring at the end of last week as Iran prepared to ship its first consignment of the commodity since sanctions were lifted, reigniting worries over a global supply glut. Data across the globe was negative with preliminary figures showing Japanese economy contracting in the December quarter, while both imports and exports in China degrading in January. The Indian Rupee was trading up 12 paise at 68.11 per US dollar. Vedanta, NMDC and Jindal Steel were up 17.85 %, 15.60 % and 13.45 %, respectively. The BSE Metal index was up nearly 10 per cent at 6,952.15.In the broader market, the BSE Midcap and small cap indices were up 3%-4% each. Market breadth ended positive with 1802 gainers and 392 losers on the BSE. The wholesale price index (WPI)-based inflation fell for the 15th straight month in January, dropping 0.90% compared to 0.73% in December. Government data released on Monday showed that total build up in the inflation for the current financial year leading up to December was 0.23% as compared to a 1.66% fall in the corresponding period of the previous year. The recovery among markets was extremely positive as the beaten down sectors were in focus and performed much better in comparison to other sectors
 
TOP GAINERS -Bank of Baroda, Vedanta, Tata Steel, Hindalco, L&T, SBI, Adani Ports and Coal India
TOP LOSERS - Bharti Airtel, HUL, Idea Cellular and HDFC were among the losers today.
 

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