Sensex may rise further on FII buying support, global mkt cues

NEW DELHI: The domestic equity market is likely to a see smart rally in the coming week, driven by robust foreign institutional investment (FII) interest and strength in the global market , say analysts.

Better-than-expected GDP data and easing food inflation helped the Bombay Stock Exchange benchmark Sensex gain 4.33 per cent, or 830 points last week to settle a little below the psychological 20,000 mark.

"Market is expected to remain sideways for the first two-three sessions and then continue the rally, especially with firm global markets and FII buying back home in view of the weakening dollar," Religare Securities Executive Vice-President Rajesh Jain said.

Analysts have also asserted faith in commodities, including metals and crude, who are also likely to trigger the upswing on Dalal Street.

Besides, rally suggests that the impact of scams in the domestic arena, including 2G spectrum row and bribery loan scandal, is slowly fading out of the minds of the investors and that they are regaining their lost confidence in the market, feel experts.

Sensex also rode higher on value buying across sectors and rally in the global peers.

But, experts have cautioned that the US job data released on Friday which failed to meet the street expectations, with the jobless rate jumping to a seven-month high, may act as a dampener.

"Better-than-expected US economic statistics, coupled with the European Central Bank's decision to extend liquidity support measures to banks underpinned the positive sentiment across risky asset classes. However, the monthly US jobs data will also decide the fate of market in the coming week," IIFL Research Head Amar Ambani said.

On the global front, the US markets had ended in a positive terrain with Dow Jones up 19.68 points at 11,382.09 and S&P 3.18 points higher at 1,224.71. European markets also closed firm on Friday.

Sensex up 192 points in early trade

MUMBAI: A benchmark index of Indian equities rose sharply at the opening bell Monday and was ruling about 192 points higher ten minutes into trade.

At 9.10 am, the 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 16,191.32 points, was at 16,384.41 points, up 192.78 points or 1.19% from its previous close.

At the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty was at 4,906.35 points, against the previous close at 4,844.9 points, a gain of 1.27% or 61.45 points.

Broader markets were also in the green with the BSE midcap index up 1.01% and the BSE small cap index trading 1.06% higher.

Sensex falls after three sessions of rise

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Sensex falls after three sessions of rise

Mumbai, Apr 28 (PTI) The BSE Sensex snapped a three-day winning streak and declined by a whopping 370 points on the back of weak global cues and fears of political uncertainty after the general election.

The Bombay Stock Exchange 30-share barometer moved in in the range 11,375.97 and 10,961.76 before concluding the day at 11,001.75, a fall of 370.10 points or 3.25 per cent over the previous close.

In the previous three sessions, the benchmark Sensex gained by 554.31 points or 5.12 per cent.

The 50-issue Nifty of the National Stock Exchange also dropped by 107.65 points or 3.10 per cent to 3,362.35 from its last close.

Brokers attributed the fall in the Sensex to profit-selling ahead of the expiry of derivatives contracts on April 29.

The fall in the Asian indices on the back of weakness on Wall Street on Monday dampened sentiment. The Kospi ended down 2.95 per cent, the Nikkei 2.67 per cent, the Hang Seng 1.92 per cent, Taiwan 1.90 per cent, Singapore 0.56 per cent and China 0.16 per cent.

Fears of political uncertainty after the general election compelled operators to book profits at higher levels, a broker said. PTI