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Sensex, Nifty trading marginally higher amid volatile trade

http://capitalbuilderstocktips.blogspot.in/2013/02/sensex- nifty- trading- marginally- higher.html February 27, 2013

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Following a positive opening and subsequent retreat, Indian equity markets regained lost ground and are trading moderately higher in the late morning session on Wednesday. Sensex was trading up around 0.33%, while Nifty was up by 18.20 points. In currency markets, rupee appreciated amid dollar selling by some banks and exporters. On sectoral front, capital goods, FMCG, Oil & Gas and banking stocks were trading in green, while IT, TECk and auto stocks were trading in red. Meanwhile, Bharti Airtel stocks were leading the rally, on expectations that the government will be forced to cut the reserve prices for the remaining auctions of airwaves, thus improving the earnings outlook for the sector. On global front, Asian shares rebounded as US equities rose on solid data and the Federal Reserve's affirmation of its commitment to monetary stimulus, but investors remained wary of political gridlock in Italy reigniting the euro zone financial crisis. Back home, the market breadth favoring negative trend; there were 1,377 shares on the losing side against 964 shares on the gaining side while 112 shares remain unchanged. The BSE Sensex is currently trading at 19,078.33, up by 63.19 points or 0.33% after trading in a range of 19,137.39 and 18,997.82. There were 22 stocks advancing against 8 declines on the index. The broader indices were trading mixed; the BSE Mid cap index was up by 0.01% and Small cap index was down by 0.39%. The top gaining sectoral indices on the BSE were, Capital Goods up by 1.50%, FMCG up by 0.78%, Oil & Gas up by 0.63%, Bankex up 0.57% and Realty up by 0.49%, while IT down by 0.96%, TECk down by 0.41%, Auto down by 0.26% and Health Care down by 0.24% were the top losers on the BSE. The top gainers on the Sensex were Bharti Airtel up by 2.86%, L&T up by 1.88%, Bajaj Auto up by 1.71%, BHEL up by 1.63% and ICICI Bank up by 1.35%. On the flip side, Tata Motors was down by 1.90%, Infosys was down by 1.84%, Gail India was down by 1.84%, Hero MotoCorp was down by 0.96% and Dr Reddys Lab was down by 0.86% were the top losers on the Sensex. Meanwhile, in a move to help rein-in the government’s annual borrowing and fiscal deficit, the disinvestment proceeds from FY14 will be utilized to infuse capital into central public sector units (CPSE). Minister of State for Finance Namo Narain Meena said, 'the government has decided that the disinvestment proceeds with effect from the fiscal year 2013-14 will be used for subscribing to the shares being used by the central Public sector enterprises (CPSEs), including public sector banks and public sector insurance companies.’ The disinvestment proceed would be credited to the National Investment Fund (NIF), which was set up in 2005. Around 75 percent of the income from NIF is used to finance selected social sector schemes, while the rest is utilized to meet the capital investment requirements of profitable and revivable central PSUs. As on August 31, 2012, the corpus in the NIF was Rs 1,814.45 crore. However, the government in November 2009 decided to utilize the proceeds from disinvestment only for social sector spending because of the challenging economic situation caused by global slowdown in 2008. This exemption is applicable till March, 2013. The CNX Nifty is currently trading at 5,779.55 up by 18.20 points or 0.32% after trading in a

range of 5,796.50 and 5,749.70. There were 28 stocks advancing against 22 declines on the index. The top gainers of the Nifty were Bharti Airtel up by 2.71%, L&T up by 2.04%, Bajaj Auto up by 2.00%, JP Associates up by 1.97% and BHEL up by 1.63%. On the flip side, Ranbaxy down by 4.13%, Tata Motors down by 1.97%, GAIL down by 1.91%, Infosys down by 1.78% and HCL Tech down by 1.38% were the major losers on the index. Most of the Asian equity indices were trading in the green; Shanghai Composite rose 0.01%, Jakarta Composite strengthened 0.77%, KLSE Composite added 0.12%, Straits Times jumped 0.22%, KOSPI Composite increased 0.23% and Taiwan Weighted was up by 0.22%. On the flip side, Hang Seng down by 0.06% and Nikkei 225 was down by 1.13%. Try once capital builder Research to get most profitable calls and tips Stock Tips, Forex Tips, Share Tips Free Trial, commodity tips, Intraday Tips. Subscribe With us to judge most profitable call here Free Trial Form or please call our Customer Care Support us at Cont act No 88-15278555, 0731-4059221