Gains, which came after 5 days of losing streak,
are currently holding up frontline indices in fine contour at Dalal
Street. However, benchmark indices holding above their respective
crucial bastions of 15300 (Sensex) and 4600 (Nifty) are currently
trading in range bound fashion.
Encouraged by global positive developments, Indian equity markers right from the inception of trade are trading on an optimistic note. Upbeat US and German data amidst strong demand for Spanish debt which mainly aided investors to temporarily look past Europe's debt woes, has mainly sent the regional counterparts higher. Meanwhile, US future indices too are showing an uptick in the screen trade.
Back on the home turf, all sectoral indices are trading in green. However, banking, Technology, Consumer Durable counters have rallied with strong gains. Meanwhile, only 9 of the 50 stocks on the Nifty index traded with losses. On the Sensex, only 4 of the 30 stocks traded lower. The overall market breadth on BSE was in the favour of advances which thrashed declines in the ratio of 1453:658, while 87 shares remained unchanged.
The BSE Sensex is currently trading at 15,381.85, up by 206.77 points or 1.36%. The index has touched a high and a low of 15,495.18 and 15,378.37 respectively. The broader indices too trimmed some of its gains; the BSE Mid cap and Small cap indices were trading up by 0.84% and 0.86% respectively.
The top gaining sectoral indices on the BSE were, Bankex up by 2.07%, TECk up by 1.34%, CD up by 1.16%, Oil & Gas up by 1.14% and Power up by 1.09%.
The top gainers on the Sensex were ICICI Bank up by 4.95%, Bharti Airtel up by 3.92%,BHEL up by 2.80%, Tata Motors up by 2.80% and HDFC Bank up by 2.38%.
On the flip side, Bajaj Auto down by 1.59%, Hero MotoCorp down by 0.69%, Sun Pharma down by 0.40% and Coal India down by 0.17% were the only losers on the Sensex.
Meanwhile, India's headline inflation is likely to cool around the seven percent levels by March 2012, owing to the sharp moderation in food inflation in the recent past, said C Rangarajan, the chairman of the Prime Minister's Economic Advisory Council (PMEAC). On the sidelines of a Bangalore Chamber of Industry and Commerce function, Ranagarajan stated that 'one of the reasons for inflation to settle down at around seven per cent in March 2012 is dwindling food inflation which has come down to 4.3% at the beginning of December this year.'
C Rangarajan, noted that food inflation is exhibiting definitive signs of decline, plunging from 11.81% in October to 4.35% in early December 2011 and added this would lead to a moderation in wholesale price index (WPI) inflation. The PMEAC chairman is also of the belief that the Reserve Bank of India (RBI) may abstain from its hawkish monetary tightening measures as the WPI inflation has primarily been on a declining trend.
Acknowledging that inflation remains at highly uncomfortable levels, Rangarajan also opined that high growth does not warrant a higher level of inflation which calls for policy instruments like interventions in foodgrains market, monetary and fiscal policies, to bring down current inflation and re-anchor inflationary expectations to the five per cent comfort zone.
He also said that the a series of policymaking decisions, including increasing investment limit of Foreign Institutional Investors have been taken to encourage capital inflows in the country in order to curtail rupee's depreciation.
The S&P CNX Nifty is currently trading at 4,608.15, higher by 63.95 points or 1.41%. The index has touched a high and a low of 4,641.30 and 4,603.05 respectively.
Encouraged by global positive developments, Indian equity markers right from the inception of trade are trading on an optimistic note. Upbeat US and German data amidst strong demand for Spanish debt which mainly aided investors to temporarily look past Europe's debt woes, has mainly sent the regional counterparts higher. Meanwhile, US future indices too are showing an uptick in the screen trade.
Back on the home turf, all sectoral indices are trading in green. However, banking, Technology, Consumer Durable counters have rallied with strong gains. Meanwhile, only 9 of the 50 stocks on the Nifty index traded with losses. On the Sensex, only 4 of the 30 stocks traded lower. The overall market breadth on BSE was in the favour of advances which thrashed declines in the ratio of 1453:658, while 87 shares remained unchanged.
The BSE Sensex is currently trading at 15,381.85, up by 206.77 points or 1.36%. The index has touched a high and a low of 15,495.18 and 15,378.37 respectively. The broader indices too trimmed some of its gains; the BSE Mid cap and Small cap indices were trading up by 0.84% and 0.86% respectively.
The top gaining sectoral indices on the BSE were, Bankex up by 2.07%, TECk up by 1.34%, CD up by 1.16%, Oil & Gas up by 1.14% and Power up by 1.09%.
The top gainers on the Sensex were ICICI Bank up by 4.95%, Bharti Airtel up by 3.92%,BHEL up by 2.80%, Tata Motors up by 2.80% and HDFC Bank up by 2.38%.
On the flip side, Bajaj Auto down by 1.59%, Hero MotoCorp down by 0.69%, Sun Pharma down by 0.40% and Coal India down by 0.17% were the only losers on the Sensex.
Meanwhile, India's headline inflation is likely to cool around the seven percent levels by March 2012, owing to the sharp moderation in food inflation in the recent past, said C Rangarajan, the chairman of the Prime Minister's Economic Advisory Council (PMEAC). On the sidelines of a Bangalore Chamber of Industry and Commerce function, Ranagarajan stated that 'one of the reasons for inflation to settle down at around seven per cent in March 2012 is dwindling food inflation which has come down to 4.3% at the beginning of December this year.'
C Rangarajan, noted that food inflation is exhibiting definitive signs of decline, plunging from 11.81% in October to 4.35% in early December 2011 and added this would lead to a moderation in wholesale price index (WPI) inflation. The PMEAC chairman is also of the belief that the Reserve Bank of India (RBI) may abstain from its hawkish monetary tightening measures as the WPI inflation has primarily been on a declining trend.
Acknowledging that inflation remains at highly uncomfortable levels, Rangarajan also opined that high growth does not warrant a higher level of inflation which calls for policy instruments like interventions in foodgrains market, monetary and fiscal policies, to bring down current inflation and re-anchor inflationary expectations to the five per cent comfort zone.
He also said that the a series of policymaking decisions, including increasing investment limit of Foreign Institutional Investors have been taken to encourage capital inflows in the country in order to curtail rupee's depreciation.
The S&P CNX Nifty is currently trading at 4,608.15, higher by 63.95 points or 1.41%. The index has touched a high and a low of 4,641.30 and 4,603.05 respectively.
The
top gainers of the Nifty were Bharti Airtel up by 3.88%, ICICI Bank up
by 3.82%, Tata Motors up by 3.29%, BHEL up by 2.72% and HDFC Bank up by
2.61%. On the flip side, Ranbaxy down by 2.55%, Bajaj Auto down by
1.57%, kotak Bank down by 1.38%, Hero MotoCorp down by 0.99% and HCL
Technologies down by 0.89% were the major losers on the index.
All the Asian equity indices were holding up in
green; Shanghai Composite was up by 0.21%, Hang Seng up by 1.60%,
Jakarta Composite was up by 0.69%, Nikkei 225 was up by 1.36%, Straits
Times up by 1.73%, Seoul Composite up by 3.07% and Taiwan Weighted up by
4.31%. 
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