Indian equity market is likely to advance on back of positive global cues and renewed FII interest in Indian equities.
The market closed on cheerful note on Friday. The overall market breadth was positive, around 69.9% of shares advanced on BSE and 79.7% of shares advanced on NSE. Out of the total 2,700 stocks traded at BSE, 1,888 advanced, 740 declined while 72 remained unchanged. Sensex crossed the mark of 14,000 on renewed buying interest seen in blue chip stocks. Realty, IT, power and banking stocks led the rally. Midcap and smallcap stocks also rose throughout the day.
The Sensex ended the day with a gain of 726.72 points, or 5.46% at 14,042.32 after touching a high of 14,097.44 and a low of 13,674.96. The broad-based NSE Nifty climbed 207.10 points, or 5.13% at 4,245.25 after hitting a high of 4,262.65 and a low of 4,040.80.
Technical analyst, Vishwas Agarwal while commenting on the market said `` On the BSE, above 13,786 the market is safe for 14,150 and 14,555 levels, and maximum for 14,786 level. I had said after Nifty futures touches 4,009, we would see panic short covering, and our target for Friday, 4,286 was achieved``.
Agarwal added, ``Next week, the nuclear deal is an important event and on this Sunday Mukesh Ambani, Chairman of Reliance Industries will announce the production of oil and gas which will be another big event. The above mentioned two events will help market remain strong.``
US Stocks rallied on Friday, with the Dow rising 369 points, due to the government``s plan to help rescue banks from mortgage debt. The Dow Jones industrial average added nearly 369 points, or 3.3%.
Asian stocks gained for the second day on Monday, September 22, buoyed by financial shares, after the U.S. government planned measures to buy banks` bad debts, easing concern of mortgage losses.
Japanese benchmark index Nikkei rose 267.54 points, or 2.24%, to trade at 12,188.40. Hong Kong`s Hang Seng index rose 541.29 points, or 2.80%, to trade at 19,869.02. China`s Shanghai Composite gained 158.28 points, or 7.63%, to trade at 2,233.37.
Oil prices escalated more than USD 6 a barrel on Friday, September 19, as hope grew on Wall Street that a government bailout could help ease the credit crisis encouraging investors to re-enter the markets. Light, sweet crude for October delivery rose USD 6.67 to settle at USD 104.55 a barrel on the New York Mercantile Exchange (NYMEX).
Gasoline futures rose 11.73 cents to USD 2.5997 a gallon. Heating oil futures rose 11.54 cents to settle at USD 2.8978 a gallon at the NYMEX. In London, October Brent crude futures rose USD 4.42 to settle at USD 99.61 a barrel on the ICE Futures exchange. Natural gas for October delivery fell 7.8 cents to USD 7.848 per 1,000 cubic feet.
Via IRIS
The market closed on cheerful note on Friday. The overall market breadth was positive, around 69.9% of shares advanced on BSE and 79.7% of shares advanced on NSE. Out of the total 2,700 stocks traded at BSE, 1,888 advanced, 740 declined while 72 remained unchanged. Sensex crossed the mark of 14,000 on renewed buying interest seen in blue chip stocks. Realty, IT, power and banking stocks led the rally. Midcap and smallcap stocks also rose throughout the day.
The Sensex ended the day with a gain of 726.72 points, or 5.46% at 14,042.32 after touching a high of 14,097.44 and a low of 13,674.96. The broad-based NSE Nifty climbed 207.10 points, or 5.13% at 4,245.25 after hitting a high of 4,262.65 and a low of 4,040.80.
Technical analyst, Vishwas Agarwal while commenting on the market said `` On the BSE, above 13,786 the market is safe for 14,150 and 14,555 levels, and maximum for 14,786 level. I had said after Nifty futures touches 4,009, we would see panic short covering, and our target for Friday, 4,286 was achieved``.
Agarwal added, ``Next week, the nuclear deal is an important event and on this Sunday Mukesh Ambani, Chairman of Reliance Industries will announce the production of oil and gas which will be another big event. The above mentioned two events will help market remain strong.``
US Stocks rallied on Friday, with the Dow rising 369 points, due to the government``s plan to help rescue banks from mortgage debt. The Dow Jones industrial average added nearly 369 points, or 3.3%.
Asian stocks gained for the second day on Monday, September 22, buoyed by financial shares, after the U.S. government planned measures to buy banks` bad debts, easing concern of mortgage losses.
Japanese benchmark index Nikkei rose 267.54 points, or 2.24%, to trade at 12,188.40. Hong Kong`s Hang Seng index rose 541.29 points, or 2.80%, to trade at 19,869.02. China`s Shanghai Composite gained 158.28 points, or 7.63%, to trade at 2,233.37.
Oil prices escalated more than USD 6 a barrel on Friday, September 19, as hope grew on Wall Street that a government bailout could help ease the credit crisis encouraging investors to re-enter the markets. Light, sweet crude for October delivery rose USD 6.67 to settle at USD 104.55 a barrel on the New York Mercantile Exchange (NYMEX).
Gasoline futures rose 11.73 cents to USD 2.5997 a gallon. Heating oil futures rose 11.54 cents to settle at USD 2.8978 a gallon at the NYMEX. In London, October Brent crude futures rose USD 4.42 to settle at USD 99.61 a barrel on the ICE Futures exchange. Natural gas for October delivery fell 7.8 cents to USD 7.848 per 1,000 cubic feet.
Via IRIS
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