Monday, 22 February 2016

Nifty inches towards 7250, Sensex firm; Mid, Smallcap outperform


The broader markets outperformed benchmarks with the BSE Midcap and Smallcap indices rising 0.66 percent each. The market breadth was strong as more than two shares advanced for every share declining on the BSE.

10:20 am Market Expert: Investors should expect 10-15 percent return from equities in this calendar, Sanjeev Prasad, Senior Executive Director & Co Head (Strategy), Kotak Institutional Equities tells CNBC-TV18.

Prasad says the feedback he is getting from his investors is that they are positive on India over the medium term.

He says valuations are beginning to look reasonable, and sees limited downside.

While there is pressure on the Finance Minister to pursue growth through borrowing, Prasad says maintaining fiscal discipline will be viewed as a positive by the market, Prasad says. At the same time, he feels it will be a challenge for the FM to limit fiscal deficit to 3.5 percent of GDP in FY17.

Also read - Will be surprised if Nifty breaks 7550 and moves to 7700: Udayan 

10:00 am Market Check

The market extended gains after flat opening, led by oil, banks, pharma, metals and infra stocks. The Sensex rose 61.43 points to 23770.58 and the Nifty advanced 21.85 points to 7232.60.

The broader markets outperformed benchmarks with the BSE Midcap and Smallcap indices rising 0.66 percent each. The market breadth was strong as more than two shares advanced for every share declining on the BSE.

Reliance Industries, HUL, Lupin, Tata Motors, Sun Pharma, SBI and ONGC gained 1-2 percent while ITC tanked 3 percent on fears of tax impact in Budget. Maruti Suzuki was down 2 percent on production shutdown in Haryana.

Markets in Asia shrugged off a slow start early today to trade higher, with major indexes in China, Japan and Hong Kong leading gains. The Japanese benchmark index, the Nikkei 225, which wavered between gains and losses after market open, was up 1.11 percent. Shanghai rallied 2 percent and Hang Seng gained 1 percent.
www.Bigprofitbuzz.com

1 comment:

Monetary Solution Financial Research said...

The market ended higher with the Sensex at 23788.79, up 79.64 points or 0.3 percent. The Nifty was up 23.80 points or 0.3 percent at 7234.55.

Share Market News