Friday, 23 January 2015

Sensex, Nifty gain for 7th consecutive day; Bharti gains 4%

The market rallied for the seventh consecutive trading session today aided by ECB stimulus announced yesterday evening. The Sensex surged more than 2000 points in seven days.

Sachin Shah of Emkay Investment Managers believes the undertone for the market is still buoyant. According to him, with the overall macros starting to show signs of improvement, and no major disappointment from earnings so far, has drawn FII flows into India.

There have been inflows to the tune of about USD 4 million into equity and debt just in the month of January, he adds.

The Sensex jumped 244.75 points to 29250.77 and the Nifty climbed 61.75 points to 8823.15 today. However, the broader markets remained under pressure as the BSE Midcap and Smallcap indices declined marginally. About 1062 shares have advanced, 1697 shares declined, and 250 shares are unchanged on the Bombay Stock Exchange.

Telecom operator Bharti Airtel spiked 4 percent. HDFC Bank, L&T, Tata Motors, HDFC, M&M, SBI, HUL, Tata Power, Sesa Sterlite and NTPC gained 1-3 percent while Infosys, TCS, GAIL, BHEL and Coal India declined 0.5-1.7 percent.

Indian markets will remain shut on Monday for Republic day. More information please visit this site www.bigprofitbuzz.com

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