Nifty at 6 month high Ø :: CSEC Research

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Nifty at 6 month high

Ø    Strong inflows from the FII’s guided the S&P CNX Nifty to cross 5,400 mark to close at six month high.

Ø    The BSE midcap and small cap posted higher gains than the benchmark indices.

Ø    Metal and Auto stocks witnessed renewed buying interest. Bajaj Auto gained 2 percent and remained as prominent gainers.

Ø    Shares of tyre companies’ witnessed buying interest. Apollo Tyres, CEAT, posted modest gains on account of Q3 numbers and capex plans..

Ø    Dishman Pharma surged 18 percent on the back of stellar Q3 numbers. The company posted a 10 fold jump in its consolidated net profit.

Outlook

Ø       U.S. stocks closed in green for third day in a row on the back of Greece austerity deal and positive jobless claims. The initial claims for jobless benefits dropped by 15,000 last week to 358,000. The four-week moving average fell to 366,250; it’s lowest since April 2008.

Ø       In today’s trade most of the Asian markets are trading in red and SGX Nifty is trading 23 pts lower, indicating a soft opening.

 

Regards,

CSEC Research