 "Narrowing CAD helps Nifty top all time closing high")
Benchmark indices edged higher with the Nifty momentarily crossing the all the closing high of 6,364 by a point. Investors cheered a sharp decline in the Current Account Deficit (CAD), which are at a 4 year low as exports picked up and gold imports reduced. Also, Strong FII inflows in cash market aided the sentiment.
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(Updated at 1230 hrs)
Markets have come off early highs as profit taking emerged at higher levels with the Nifty facing stiff resistance around the 6,360 levels. According to the data published by the Securities and Exchange Board of India, FIIs have purchased Rs 3,856 crore worth of stocks this year so far.
At 1200 hrs, the Sensex was up 88 points at 21,364 and the nifty added 28 points at 6,356.
The broader markets were resilient with the mid and smallcap indices up 1% each as compared to the 0.4% seen on the BSE benchmark index.
The Rupee was close to its seven week highs at Rs 61.33 to a Dollar.
All the sectoral indices were in the green territory barring defensive pockets like HealthCare and FMCG indices down 0.02% and 0.2% respectively.
The only losers among the Sensex pack were Cipla, Tata Motors, ITC, HUL, TCS and Sun Pharma losing 0.2-0.8%.
Metal names like Hindalco, Sesa Sterlite up nearly 3% were the top gainers of the hour.
Gail India, Hero MotoCorp, BHEL, ONGC, Dr Reddys Lab, Tata Steel, Coal India, Bharti Airtel, Axis Bank, ICICI Bank and NTPC up 1-2% were the other major gainers.
Among other stocks, Cera Sanitaryware rallied 11% to Rs 858, also its record high on the NSE, after the company's promoters increased their stake via the creeping acquisition route.
Financial Technologies (India) gained 3.3% at Rs 364, extending its previous day’s 5% gain, after Merrill Lynch acquired equity shares worth of Rs 8 crore from the open market.
The market breadth was very positive on the BSE with 1,441 stock advances as compared to the 864 declines.
________________________
(Updated at 1230 hrs)
Markets have come off early highs as profit taking emerged at higher levels with the Nifty facing stiff resistance around the 6,360 levels. According to the data published by the Securities and Exchange Board of India, FIIs have purchased Rs 3,856 crore worth of stocks this year so far.
At 1200 hrs, the Sensex was up 88 points at 21,364 and the nifty added 28 points at 6,356.
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The broader markets were resilient with the mid and smallcap indices up 1% each as compared to the 0.4% seen on the BSE benchmark index.
The Rupee was close to its seven week highs at Rs 61.33 to a Dollar.
All the sectoral indices were in the green territory barring defensive pockets like HealthCare and FMCG indices down 0.02% and 0.2% respectively.
The only losers among the Sensex pack were Cipla, Tata Motors, ITC, HUL, TCS and Sun Pharma losing 0.2-0.8%.
Metal names like Hindalco, Sesa Sterlite up nearly 3% were the top gainers of the hour.
Gail India, Hero MotoCorp, BHEL, ONGC, Dr Reddys Lab, Tata Steel, Coal India, Bharti Airtel, Axis Bank, ICICI Bank and NTPC up 1-2% were the other major gainers.
Among other stocks, Cera Sanitaryware rallied 11% to Rs 858, also its record high on the NSE, after the company's promoters increased their stake via the creeping acquisition route.
Financial Technologies (India) gained 3.3% at Rs 364, extending its previous day’s 5% gain, after Merrill Lynch acquired equity shares worth of Rs 8 crore from the open market.
The market breadth was very positive on the BSE with 1,441 stock advances as compared to the 864 declines.