Monday, 11 April 2016

BULLS CAME BACK IN POWER ON MONDAY TCS, INFY LEAD

BUY JUSTDIAL ABOVE 826 TGT 833/845 SL 818

The BSE Sensex opened at 24,798 touched an intra-day high of 25,050 and low of 24,423. The NSE Nifty closed with a gain of 116 points at 7671. The NSE Nifty opened at 7578 hitting a high of 7679 and low of 7517. The India VIX (Volatility) index was down 3.11% to 15.9200.A total of 25 stocks registered a fresh 52-week high in trades today, whereas 14 stocks touched a new 52-week low on the NSE. Telecom stocks are trading higher after Bharti Airtel Ltd, India’s largest phone company, will spend Rs.3,500 crore to acquire (4G) spectrum from Aircel Ltd in eight telecom zones as it prepares for a high-stakes battle with Reliance Jio Infocomm Ltd. The purchase will make Bharti Airtel a pan-India 4G operator, matching Reliance Jio, which is preparing for the commercial launch of its high-speed services later in 2016. Bharti Airtel Ltd rises 3.7% to Rs.346.50, Idea Cellular Ltd rises 3.7% to Rs.112.90, Reliance Communications Ltd rises 1% to Rs.51.Meanwhile, for the cement companies, the fourth quarter historically is a good quarter and so they may post good numbers but there is no fundamental change in structural demand as such. TCS and Infosys, which normally begin quarterly earnings season, were top contributors to Sensex' gains, rising 3.2 percent and 1.5 percent, respectively. TCS will announce its Q4 earnings on April 18. Investor sentiment was buoyed by a strong opening in the European markets and higher expectations of a strong performance from Big IT companies in the forthcoming earnings season.


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