Wednesday, 30 March 2016

BULLS ROARED ON DALAL STREET WEDNESDAY NIFTY RE-CONQUERS 7700…

BUY CEATLTD ABOVE 1075 TGT 1095/1115 SL 1060

The market on Wednesday snapped two-day losing streak, as it surged by 1.8 percent. The Sensex gained 438.12 points to 25338.58, whereas, the Nifty rose 138.20 points to 7735.20.The market on Wednesday snapped two-day losing streak, as it surged by 1.8 percent. The Sensex gained 438.12 points to 25338.58, whereas, the Nifty rose 138.20 points to 7735.20.The market on Wednesday snapped two-day losing streak, as it surged by 1.8 percent. The Sensex gained 438.12 points to 25338.58, whereas, the Nifty rose 138.20 points to 7735.After being under pressure in the past few trading sessions, Indian equity market made a smart comeback on Wednesday almost wiping out past two days' losses. Sentiment got a boost world-wide after US Federal Reserve Chairperson Janet Yellen persisted with a dovish tone on monetary policy. Interest rate sensitive’s like banking, realty and auto led the rally on hopes that the Reserve Bank of India would reduce interest rates in the upcoming policy meet to be held on April 5, 2016.Apart from the rate sensitive’s, healthcare, capital goods and metals stocks were among the other major gainers. Sugar stocks continued its northbound journey. Stocks like Balrampur Chini, Triveni, Sakhti Sugar and Dhampur Sugar were among the top gainers. The India Volatility index was up 4.70% to 16.8075. Out of 1,799 stocks traded on the NSE, 345 declined and 1212 advanced today.  Broad based rally in the market. The BSE midcap and smallcap indices have rallied simultaneously with the benchmarks, gaining 1.55 and 1.70 per cent, respectively.
Market breadth remains strong with seven of every ten BSE stocks trading in green Mindtree Ltd rises 2.5% to Rs.631.80. Lupin was trading 4.46 % up at Rs 1463. The scrip plunged nearly 10 per cent in the past three trading sessions Metals stocks were shining today with the Nifty Metal index rising 3.6 % after the government extended safeguard duty on steel imports. Hindalco and Vedanta gained more than 4 percent. Tata Steel topped buying list on Sensex, up 6.75 percent as the company is exploring all options for portfolio restructuring including potential divestment of Tata Steel UK, in whole or in parts. Metals stocks were shining today with the Nifty Metal index rising 3.6 percent after the government extended safeguard duty on steel imports. Hindalco and Vedanta gained more than 4 %. Tata Steel topped buying list on Sensex, up 6.75 percent as the company is exploring all options for portfolio restructuring including potential divestment of Tata Steel UK, in whole or in parts.

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