FIIs were net buyers with the tune of ` 1310.98 crore (prov. cash market fig.)
The BSE Sensex was up 271.22 points or 1.49% to 18,503.28, its highest closing level since 13 May 2011. The Sensex jumped 294.74 points at the day's high of 18,526.80 in late trade. The index rose 34.55 points at the day's low of 18,266.61 in early trade. The S&P CNX Nifty was up 87.05 points or 1.59% to 5,560.15, its highest closing level since 11 May 2011. The Nifty hit a high of 5,571.60 in late trade. The BSE Mid-Cap index rose 1.8% and outperformed the Sensex. The BSE Small-Cap index gained 0.99% and underperformed the Sensex.
The market breadth, indicating the health of the market, was strong. On BSE, 1835 shares advanced while 1007 shares declined. A total of 104 shares remained unchanged. Among the 30-member Sensex pack, 29 stocks gained while only one declined.
BSE clocked turnover of ` 3018 crore, higher than ` 2467.57 crore on Monday, 30 May 2011.
FOR TODAY: Indian stock market is likely to remain range bound with upward bias as lower than expected GDP growth in Q4’10-11 eased fears of a hawkish policy stance by RBI at its policy meet on 16/06/11. Monthly data for Auto, Cement, other commodities for May 2011 and Exports-Imports and PMI data are expected to be announced today, will be in focus. Market will also closely monitor the progress of the monsoon.
Yesterday volume was increased as compared to last few days average volumes. Moreover, yesterday's statistics for FII's buying is encouraging.
EU as well as US markets were closed in GREEN. Asian markets are trading mixed today morning. SGX Nifty is trading around 5566, up 14.50 (at 8.50 am) suggesting that nifty may open flat to positive note.
WATCH 5615 TODAY UPSIDE AND 5540 ON THE DOWNSIDE. BELOW 5540, THE UPTREND MAY END AND ABOVE 5615, WE MAY EXPECT 5700 IN THIS WEEK ITSELF.
