Sensex opens 100 points higher on fresh buying

The Bombay Stock Exchange benchmark Sensex recovered by over 100 points in opening trade on Tuesday after three straight days of losses, in tandem with a firming trend on other Asian bourses.

The 30-share barometer, which lost over 520 points in the previous three sessions, rose by 100.78 points, or 0.56 per cent, to 17,939.83 in opening trade on Tuesday, with stocks of IT, auto, realty and capital goods companies supporting the recovery.

In a similar fashion, the wide-based National Stock Exchange Nifty index moved up by 30.60 points, or 0.57 per cent, to 5,395.35 points.

Brokers said reports of a firming trend on Japan’s Tokyo Stock Exchange and other Asian bourses following overnight gains in the U.S. market buoyed the sentiment at home, though surging global crude oil prices restricted the gains.

The Tokyo Stock Exchange’s Nikkei rallied by 3.61 per cent, while Hong Kong’s Hang Seng gained 0.28 per cent in morning trade Tuesday. The U.S. Dow Jones Industrial Average ended 1.50 per cent higher in Monday’s trade.

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Sensex opens 100 points higher on fresh buying

The Bombay Stock Exchange benchmark Sensex recovered by over 100 points in opening trade on Tuesday after three straight days of losses, in tandem with a firming trend on other Asian bourses.

The 30-share barometer, which lost over 520 points in the previous three sessions, rose by 100.78 points, or 0.56 per cent, to 17,939.83 in opening trade on Tuesday, with stocks of IT, auto, realty and capital goods companies supporting the recovery.

In a similar fashion, the wide-based National Stock Exchange Nifty index moved up by 30.60 points, or 0.57 per cent, to 5,395.35 points.

Brokers said reports of a firming trend on Japan’s Tokyo Stock Exchange and other Asian bourses following overnight gains in the U.S. market buoyed the sentiment at home, though surging global crude oil prices restricted the gains.

The Tokyo Stock Exchange’s Nikkei rallied by 3.61 per cent, while Hong Kong’s Hang Seng gained 0.28 per cent in morning trade Tuesday. The U.S. Dow Jones Industrial Average ended 1.50 per cent higher in Monday’s trade.

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Sensex gains 117 points in opening trade

The BSE Sensex rose by nearly 117 points in opening trade on Tuesday after the DMK put on hold the resignation of six of its ministers from the UPA government at the Centre.

The 30-share index of the Bombay Stock Exchange, which lost over 267 points in the previous two sessions, bounced back to trade higher by 116.93 points, or 0.64 per cent, vis-à-vis the previous close at 18,339.60 in opening trade today. Capital goods, auto, healthcare, banking and metal stocks led the recovery.

Similarly, the wide-based National Stock Exchange Nifty index also moved up by 19.60 points, or 0.35 per cent to 5,482.75 points.

Brokers said funds and retail investors engaged in fresh buying of stocks available at lower levels after the sustained decline over the past two sessions amid fresh developments on the political front after the DMK, a key ally of the UPA government at the Centre, put on hold the resignation of six ministers.

In addition, a firming trend on other Asian bourses also influenced the trading sentiment here at home.

Japan’s Nikkei index was up by 0.08 per cent and Hong Kong’s Hang Seng Index by 0.33 per cent in early trade today.

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Sensex gains 117 points in opening trade

The BSE Sensex rose by nearly 117 points in opening trade on Tuesday after the DMK put on hold the resignation of six of its ministers from the UPA government at the Centre.

The 30-share index of the Bombay Stock Exchange, which lost over 267 points in the previous two sessions, bounced back to trade higher by 116.93 points, or 0.64 per cent, vis-à-vis the previous close at 18,339.60 in opening trade today. Capital goods, auto, healthcare, banking and metal stocks led the recovery.

Similarly, the wide-based National Stock Exchange Nifty index also moved up by 19.60 points, or 0.35 per cent to 5,482.75 points.

Brokers said funds and retail investors engaged in fresh buying of stocks available at lower levels after the sustained decline over the past two sessions amid fresh developments on the political front after the DMK, a key ally of the UPA government at the Centre, put on hold the resignation of six ministers.

In addition, a firming trend on other Asian bourses also influenced the trading sentiment here at home.

Japan’s Nikkei index was up by 0.08 per cent and Hong Kong’s Hang Seng Index by 0.33 per cent in early trade today.

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Sensex gains 247 points on easing inflation

The Sensex rose by over 247 points in opening trade on the Bombay Stock Exchange on Friday on continued buying by funds, driven by firming global market trend and easing food inflation.

The Sensex, which gained over 865 points in the past four sessions, shot up by 247.21 points, or 1.33 per cent, to 18,736.97 on Friday. Banking, auto, metal, capital goods and oil and gas stocks led the rally.

Similarly, the broad-based National Stock Exchange Nifty index gained 72 points, or 1.13 per cent, to 5,608.20 points.

Brokers said a firming trend on other Asian bourses following overnight gains in the U.S. market and easing food inflation mainly buoyed the trading sentiment at home.

In addition, corporate-friendly Budget proposals also supporting the ongoing rally on the bourses, they said.

In the Asian region, Hong Kong’s Hang Seng index was up by 1.41 per cent, while Japan’s Nikkei index rose 1.56 per cent in early trade on Friday.

The U.S. Dow Jones Industrial Average ended 1.59 per cent higher in Thursday’s trade.

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Sensex gains 247 points on easing inflation

The Sensex rose by over 247 points in opening trade on the Bombay Stock Exchange on Friday on continued buying by funds, driven by firming global market trend and easing food inflation.

The Sensex, which gained over 865 points in the past four sessions, shot up by 247.21 points, or 1.33 per cent, to 18,736.97 on Friday. Banking, auto, metal, capital goods and oil and gas stocks led the rally.

Similarly, the broad-based National Stock Exchange Nifty index gained 72 points, or 1.13 per cent, to 5,608.20 points.

Brokers said a firming trend on other Asian bourses following overnight gains in the U.S. market and easing food inflation mainly buoyed the trading sentiment at home.

In addition, corporate-friendly Budget proposals also supporting the ongoing rally on the bourses, they said.

In the Asian region, Hong Kong’s Hang Seng index was up by 1.41 per cent, while Japan’s Nikkei index rose 1.56 per cent in early trade on Friday.

The U.S. Dow Jones Industrial Average ended 1.59 per cent higher in Thursday’s trade.

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Sensex ends slightly higher on select buying

The Bombay Stock Exchange benchmark index Sensex closed nearly 30 points higher on select buying by funds even as late profit booking eroded early gains after a better economic forecast.



The 30-share index rose by 29.04 points to close at 18,037.19 points. It touched an intra-high of 18,135.02 with realty, auto, and oil and gas stocks leading the recovery.

The broad-based National Stock Exchange index Nifty ended a shade higher at 5,396.00 points, up by 0.25 point, after moving between 5,440.35 and 5,376.95.

Market sentiment improved after the government estimated economic growth for the current financial year at 8.6 per cent against that of 8 per cent a year ago.

However, late selling by funds as well as retail investors, mostly of a profit-booking nature, trimmed early gains at several counters, brokers said.

Stocks of metal sector were in good demand largely in tandem with rising base metal prices at the London Metal Exchange on hopes that the economic recovery would boost demand outlook for the metals.

The metal sector index rose by 11.16 points to 16,195.90 points as shares of Tata Steel, Jindal Saw and Sterlite Industries recorded handsome to moderate gains.

Among other benchmarks, the IT sector index gained 11.52 per cent to 6270.02 as the segment major Infosys rose by Rs 42.70 to Rs 3,089.05.

The Oil and gas sector index ended 71.32 points higher at 9,494.41 points after Reliance Industries surged over 1 per cent to Rs 929.30 while ONGC edged up by Rs 3.55 to Rs 1,193.85.

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Sensex ends slightly higher on select buying

The Bombay Stock Exchange benchmark index Sensex closed nearly 30 points higher on select buying by funds even as late profit booking eroded early gains after a better economic forecast.



The 30-share index rose by 29.04 points to close at 18,037.19 points. It touched an intra-high of 18,135.02 with realty, auto, and oil and gas stocks leading the recovery.

The broad-based National Stock Exchange index Nifty ended a shade higher at 5,396.00 points, up by 0.25 point, after moving between 5,440.35 and 5,376.95.

Market sentiment improved after the government estimated economic growth for the current financial year at 8.6 per cent against that of 8 per cent a year ago.

However, late selling by funds as well as retail investors, mostly of a profit-booking nature, trimmed early gains at several counters, brokers said.

Stocks of metal sector were in good demand largely in tandem with rising base metal prices at the London Metal Exchange on hopes that the economic recovery would boost demand outlook for the metals.

The metal sector index rose by 11.16 points to 16,195.90 points as shares of Tata Steel, Jindal Saw and Sterlite Industries recorded handsome to moderate gains.

Among other benchmarks, the IT sector index gained 11.52 per cent to 6270.02 as the segment major Infosys rose by Rs 42.70 to Rs 3,089.05.

The Oil and gas sector index ended 71.32 points higher at 9,494.41 points after Reliance Industries surged over 1 per cent to Rs 929.30 while ONGC edged up by Rs 3.55 to Rs 1,193.85.

Read More

Sensex ends slightly higher on select buying

The Bombay Stock Exchange benchmark index Sensex closed nearly 30 points higher on select buying by funds even as late profit booking eroded early gains after a better economic forecast.



The 30-share index rose by 29.04 points to close at 18,037.19 points. It touched an intra-high of 18,135.02 with realty, auto, and oil and gas stocks leading the recovery.

The broad-based National Stock Exchange index Nifty ended a shade higher at 5,396.00 points, up by 0.25 point, after moving between 5,440.35 and 5,376.95.

Market sentiment improved after the government estimated economic growth for the current financial year at 8.6 per cent against that of 8 per cent a year ago.

However, late selling by funds as well as retail investors, mostly of a profit-booking nature, trimmed early gains at several counters, brokers said.

Stocks of metal sector were in good demand largely in tandem with rising base metal prices at the London Metal Exchange on hopes that the economic recovery would boost demand outlook for the metals.

The metal sector index rose by 11.16 points to 16,195.90 points as shares of Tata Steel, Jindal Saw and Sterlite Industries recorded handsome to moderate gains.

Among other benchmarks, the IT sector index gained 11.52 per cent to 6270.02 as the segment major Infosys rose by Rs 42.70 to Rs 3,089.05.

The Oil and gas sector index ended 71.32 points higher at 9,494.41 points after Reliance Industries surged over 1 per cent to Rs 929.30 while ONGC edged up by Rs 3.55 to Rs 1,193.85.

Read More

Sensex ends slightly higher on select buying

The Bombay Stock Exchange benchmark index Sensex closed nearly 30 points higher on select buying by funds even as late profit booking eroded early gains after a better economic forecast.



The 30-share index rose by 29.04 points to close at 18,037.19 points. It touched an intra-high of 18,135.02 with realty, auto, and oil and gas stocks leading the recovery.

The broad-based National Stock Exchange index Nifty ended a shade higher at 5,396.00 points, up by 0.25 point, after moving between 5,440.35 and 5,376.95.

Market sentiment improved after the government estimated economic growth for the current financial year at 8.6 per cent against that of 8 per cent a year ago.

However, late selling by funds as well as retail investors, mostly of a profit-booking nature, trimmed early gains at several counters, brokers said.

Stocks of metal sector were in good demand largely in tandem with rising base metal prices at the London Metal Exchange on hopes that the economic recovery would boost demand outlook for the metals.

The metal sector index rose by 11.16 points to 16,195.90 points as shares of Tata Steel, Jindal Saw and Sterlite Industries recorded handsome to moderate gains.

Among other benchmarks, the IT sector index gained 11.52 per cent to 6270.02 as the segment major Infosys rose by Rs 42.70 to Rs 3,089.05.

The Oil and gas sector index ended 71.32 points higher at 9,494.41 points after Reliance Industries surged over 1 per cent to Rs 929.30 while ONGC edged up by Rs 3.55 to Rs 1,193.85.

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Sensex shoots up 358 points

Shrugging off spike in food inflation and high interest rate worries, the BSE benchmark Sensex on Thursday surged by over 358 points to close at 18,449.31 on aggressive value buying in the recently beaten stocks and indications of a steady global economic recovery.

The Bombay Stock Exchange benchmark Sensex, which had gained 68 points in the previous session, spurted by 358.69 points to 18,449.31, even as the food inflation soared to over 17 per cent for the week ended January 22 from 15.57 per cent in the previous week.

The Sensex upsurge was mostly supported by most beaten stocksof metal, realty, capital goods and banking, following nearly 11 per cent fall in the market this year, which had touched a five-month low.

The broad-based National Stock Exchange index Nifty shot up by 94.75 points to 5,526.75 led by Hindalco, Reliance Industries, Larsen and Toubro and State Bank of India.

US manufacturing data showed unexpected acceleration in January, the fastest pace in more than six years, signalling that the global recovery might be taking a strong hold.

European manufacturing too gained at the quickest pace in nine months, while UK production increased at a record pace in January.

Hindalco, the biggest aluminium producer, gained for the fourth day as manufacturing improved from China to the US, boosting the demand outlook. The stock gained 4.62 per cent to Rs 245.70 as copper advanced to records in London and New York, while aluminium gained by 0.4 per cent.

Foreign funds shifted focus to Indian stocks as most of the Asian markets were closed on account of Lunar New Year holidays.

The two heaviest-weighted on the Sensex - Reliance Industries and Infosys gained on buying at attractive low levels and favourable reports.

RIL gained 2.40 per cent to Rs 943.50 following a steep rise in crude oil prices and Infosys rose by 0.98 per cent to Rs 3,115.85 on expectations of better earnings on expectation of a steady global economic recovery. US and Europe account for substantial share of the revenues for Indian IT firms.

The realty sector index gained the most by rising 3.93 per cent to 2,276 followed by capital goods index by 2.51 per cent to 13,390.47. The metal index rose by 2.19 per cent to 16,477.32 and banking index by 2.04 per cent to 12,111.66.

With the buying activity spilling over a wide-front, smallcap index rose by 1.21 per cent to 8,464 and midcap index by 1.09 per cent to 6,827.87.

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Sensex shoots up 358 points

Shrugging off spike in food inflation and high interest rate worries, the BSE benchmark Sensex on Thursday surged by over 358 points to close at 18,449.31 on aggressive value buying in the recently beaten stocks and indications of a steady global economic recovery.

The Bombay Stock Exchange benchmark Sensex, which had gained 68 points in the previous session, spurted by 358.69 points to 18,449.31, even as the food inflation soared to over 17 per cent for the week ended January 22 from 15.57 per cent in the previous week.

The Sensex upsurge was mostly supported by most beaten stocksof metal, realty, capital goods and banking, following nearly 11 per cent fall in the market this year, which had touched a five-month low.

The broad-based National Stock Exchange index Nifty shot up by 94.75 points to 5,526.75 led by Hindalco, Reliance Industries, Larsen and Toubro and State Bank of India.

US manufacturing data showed unexpected acceleration in January, the fastest pace in more than six years, signalling that the global recovery might be taking a strong hold.

European manufacturing too gained at the quickest pace in nine months, while UK production increased at a record pace in January.

Hindalco, the biggest aluminium producer, gained for the fourth day as manufacturing improved from China to the US, boosting the demand outlook. The stock gained 4.62 per cent to Rs 245.70 as copper advanced to records in London and New York, while aluminium gained by 0.4 per cent.

Foreign funds shifted focus to Indian stocks as most of the Asian markets were closed on account of Lunar New Year holidays.

The two heaviest-weighted on the Sensex - Reliance Industries and Infosys gained on buying at attractive low levels and favourable reports.

RIL gained 2.40 per cent to Rs 943.50 following a steep rise in crude oil prices and Infosys rose by 0.98 per cent to Rs 3,115.85 on expectations of better earnings on expectation of a steady global economic recovery. US and Europe account for substantial share of the revenues for Indian IT firms.

The realty sector index gained the most by rising 3.93 per cent to 2,276 followed by capital goods index by 2.51 per cent to 13,390.47. The metal index rose by 2.19 per cent to 16,477.32 and banking index by 2.04 per cent to 12,111.66.

With the buying activity spilling over a wide-front, smallcap index rose by 1.21 per cent to 8,464 and midcap index by 1.09 per cent to 6,827.87.

Read More

Sensex shoots up 358 points

Shrugging off spike in food inflation and high interest rate worries, the BSE benchmark Sensex on Thursday surged by over 358 points to close at 18,449.31 on aggressive value buying in the recently beaten stocks and indications of a steady global economic recovery.

The Bombay Stock Exchange benchmark Sensex, which had gained 68 points in the previous session, spurted by 358.69 points to 18,449.31, even as the food inflation soared to over 17 per cent for the week ended January 22 from 15.57 per cent in the previous week.

The Sensex upsurge was mostly supported by most beaten stocksof metal, realty, capital goods and banking, following nearly 11 per cent fall in the market this year, which had touched a five-month low.

The broad-based National Stock Exchange index Nifty shot up by 94.75 points to 5,526.75 led by Hindalco, Reliance Industries, Larsen and Toubro and State Bank of India.

US manufacturing data showed unexpected acceleration in January, the fastest pace in more than six years, signalling that the global recovery might be taking a strong hold.

European manufacturing too gained at the quickest pace in nine months, while UK production increased at a record pace in January.

Hindalco, the biggest aluminium producer, gained for the fourth day as manufacturing improved from China to the US, boosting the demand outlook. The stock gained 4.62 per cent to Rs 245.70 as copper advanced to records in London and New York, while aluminium gained by 0.4 per cent.

Foreign funds shifted focus to Indian stocks as most of the Asian markets were closed on account of Lunar New Year holidays.

The two heaviest-weighted on the Sensex - Reliance Industries and Infosys gained on buying at attractive low levels and favourable reports.

RIL gained 2.40 per cent to Rs 943.50 following a steep rise in crude oil prices and Infosys rose by 0.98 per cent to Rs 3,115.85 on expectations of better earnings on expectation of a steady global economic recovery. US and Europe account for substantial share of the revenues for Indian IT firms.

The realty sector index gained the most by rising 3.93 per cent to 2,276 followed by capital goods index by 2.51 per cent to 13,390.47. The metal index rose by 2.19 per cent to 16,477.32 and banking index by 2.04 per cent to 12,111.66.

With the buying activity spilling over a wide-front, smallcap index rose by 1.21 per cent to 8,464 and midcap index by 1.09 per cent to 6,827.87.

Read More

Sensex shoots up 358 points

Shrugging off spike in food inflation and high interest rate worries, the BSE benchmark Sensex on Thursday surged by over 358 points to close at 18,449.31 on aggressive value buying in the recently beaten stocks and indications of a steady global economic recovery.

The Bombay Stock Exchange benchmark Sensex, which had gained 68 points in the previous session, spurted by 358.69 points to 18,449.31, even as the food inflation soared to over 17 per cent for the week ended January 22 from 15.57 per cent in the previous week.

The Sensex upsurge was mostly supported by most beaten stocksof metal, realty, capital goods and banking, following nearly 11 per cent fall in the market this year, which had touched a five-month low.

The broad-based National Stock Exchange index Nifty shot up by 94.75 points to 5,526.75 led by Hindalco, Reliance Industries, Larsen and Toubro and State Bank of India.

US manufacturing data showed unexpected acceleration in January, the fastest pace in more than six years, signalling that the global recovery might be taking a strong hold.

European manufacturing too gained at the quickest pace in nine months, while UK production increased at a record pace in January.

Hindalco, the biggest aluminium producer, gained for the fourth day as manufacturing improved from China to the US, boosting the demand outlook. The stock gained 4.62 per cent to Rs 245.70 as copper advanced to records in London and New York, while aluminium gained by 0.4 per cent.

Foreign funds shifted focus to Indian stocks as most of the Asian markets were closed on account of Lunar New Year holidays.

The two heaviest-weighted on the Sensex - Reliance Industries and Infosys gained on buying at attractive low levels and favourable reports.

RIL gained 2.40 per cent to Rs 943.50 following a steep rise in crude oil prices and Infosys rose by 0.98 per cent to Rs 3,115.85 on expectations of better earnings on expectation of a steady global economic recovery. US and Europe account for substantial share of the revenues for Indian IT firms.

The realty sector index gained the most by rising 3.93 per cent to 2,276 followed by capital goods index by 2.51 per cent to 13,390.47. The metal index rose by 2.19 per cent to 16,477.32 and banking index by 2.04 per cent to 12,111.66.

With the buying activity spilling over a wide-front, smallcap index rose by 1.21 per cent to 8,464 and midcap index by 1.09 per cent to 6,827.87.

Read More

Sensex ends 68 points higher

Higher global markets helped the Sensex to close higher though it gave up a lot of its gains toward the end of the session. The Sensex closed at 18,090.62, up 68.40 points. At its day's high the Sensex had touched 18,306.00.



Stocks in Asia rose in early trading on Wednesday, following in the footsteps of shares in the U.S. that were boosted by strong earnings and positive economic data. Stocks in Europe were also higher in early trade.

Oil prices hovered below $91 a barrel Wednesday in Asia as a report showed U.S. gasoline and crude supplies rose more than expected last week, suggesting a demand recovery remains uneven.

Japan's benchmark Nikkei 225 stock average was up 2 percent to 10,475.1. Markets in China, Korea and Taiwan were closed Wednesday for the Chinese Lunar New Year.

Shares in Singapore were higher, as were shares in Hong Kong, which was scheduled for only a half-day of trading. Australia's S&P/ASX index was up 0.9 percent at 4,796.50. Shares in New Zealand, the Philippines and Indonesia were also higher.

The gains came after a strong showing on Wall Street, where the Dow Jones industrial average gained 1.1 percent, to 12,020 and the broader S&P 500 rose 1.6 percent to 1,306. Both closed at their highest levels since mid-2008.

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Sensex ends 68 points higher

Higher global markets helped the Sensex to close higher though it gave up a lot of its gains toward the end of the session. The Sensex closed at 18,090.62, up 68.40 points. At its day's high the Sensex had touched 18,306.00.



Stocks in Asia rose in early trading on Wednesday, following in the footsteps of shares in the U.S. that were boosted by strong earnings and positive economic data. Stocks in Europe were also higher in early trade.

Oil prices hovered below $91 a barrel Wednesday in Asia as a report showed U.S. gasoline and crude supplies rose more than expected last week, suggesting a demand recovery remains uneven.

Japan's benchmark Nikkei 225 stock average was up 2 percent to 10,475.1. Markets in China, Korea and Taiwan were closed Wednesday for the Chinese Lunar New Year.

Shares in Singapore were higher, as were shares in Hong Kong, which was scheduled for only a half-day of trading. Australia's S&P/ASX index was up 0.9 percent at 4,796.50. Shares in New Zealand, the Philippines and Indonesia were also higher.

The gains came after a strong showing on Wall Street, where the Dow Jones industrial average gained 1.1 percent, to 12,020 and the broader S&P 500 rose 1.6 percent to 1,306. Both closed at their highest levels since mid-2008.

Read More

Sensex ends 68 points higher

Higher global markets helped the Sensex to close higher though it gave up a lot of its gains toward the end of the session. The Sensex closed at 18,090.62, up 68.40 points. At its day's high the Sensex had touched 18,306.00.



Stocks in Asia rose in early trading on Wednesday, following in the footsteps of shares in the U.S. that were boosted by strong earnings and positive economic data. Stocks in Europe were also higher in early trade.

Oil prices hovered below $91 a barrel Wednesday in Asia as a report showed U.S. gasoline and crude supplies rose more than expected last week, suggesting a demand recovery remains uneven.

Japan's benchmark Nikkei 225 stock average was up 2 percent to 10,475.1. Markets in China, Korea and Taiwan were closed Wednesday for the Chinese Lunar New Year.

Shares in Singapore were higher, as were shares in Hong Kong, which was scheduled for only a half-day of trading. Australia's S&P/ASX index was up 0.9 percent at 4,796.50. Shares in New Zealand, the Philippines and Indonesia were also higher.

The gains came after a strong showing on Wall Street, where the Dow Jones industrial average gained 1.1 percent, to 12,020 and the broader S&P 500 rose 1.6 percent to 1,306. Both closed at their highest levels since mid-2008.

Read More

Sensex ends 68 points higher

Higher global markets helped the Sensex to close higher though it gave up a lot of its gains toward the end of the session. The Sensex closed at 18,090.62, up 68.40 points. At its day's high the Sensex had touched 18,306.00.



Stocks in Asia rose in early trading on Wednesday, following in the footsteps of shares in the U.S. that were boosted by strong earnings and positive economic data. Stocks in Europe were also higher in early trade.

Oil prices hovered below $91 a barrel Wednesday in Asia as a report showed U.S. gasoline and crude supplies rose more than expected last week, suggesting a demand recovery remains uneven.

Japan's benchmark Nikkei 225 stock average was up 2 percent to 10,475.1. Markets in China, Korea and Taiwan were closed Wednesday for the Chinese Lunar New Year.

Shares in Singapore were higher, as were shares in Hong Kong, which was scheduled for only a half-day of trading. Australia's S&P/ASX index was up 0.9 percent at 4,796.50. Shares in New Zealand, the Philippines and Indonesia were also higher.

The gains came after a strong showing on Wall Street, where the Dow Jones industrial average gained 1.1 percent, to 12,020 and the broader S&P 500 rose 1.6 percent to 1,306. Both closed at their highest levels since mid-2008.

Read More

Sensex hits 5-mth low, ends 306 points lower; Realty dips 4%

An unstoppable sell-off for 5th consecutive session dragged the Indian equity benchmarks to five-month lows despite positive global cues. The 30-share BSE Sensex slipped below the 18,000 level in an intraday trade - a psychologically important level - for the first time since August 31, 2010, pulled down by selling across sectors. However, the Nifty managed to hold strong 5400-mark, which seems like a major support for the time being.

Pathik Gandotra, Senior MD & HOR at IDFC SSKI Securities sees more pain going ahead. "I still think there will be some more negative news that we will have to face, with specific regards to interest rates and further liquidity tightening. So we are still not calling it a bottom," he said.

According to him, the right value would be about 17,000 odd on Sensex which would be roughly 12-13 times forward earnings.

Ambareesh Baliga of Karvy Stock Broking feels that the markets will touch 5200 level, but "will not go directly" there. He predicts a pre-budget rally but warns that it could start from a level as low as 5200. He said the major contributors to the fall would be auto and banks. "Banks possibly can fall 8-10% more from here, autos we see another 15-18% sort of a fall from here."

Foreign investors could be pulling the money out for investment in other asset classes, which resulting panic selling by traders today. Deven Choksey of KR Choksey Securities said the selling could be happening through the DMA (daily moving average) route. "Obviously people are withdrawing money for want of having money passed into the dollar assets. However, I don't see fundamentally many things are wrong in the market neither inflation can be having so much of overhang."

Foreign institutional investors were net sellers of nearly Rs 6,000 against buying of more than Rs 2.25 lakh crore by them in previous two years.crore in the month of January as

An unstoppable sell-off for 5th consecutive session dragged the Indian equity benchmarks to five-month lows despite positive global cues. The 30-share BSE Sensex slipped below the 18,000 level in an intraday trade - a psychologically important level - for the first time since August 31, 2010, pulled down by selling across sectors. However, the Nifty managed to hold strong 5400-mark, which seems like a major support for the time being.
Pathik Gandotra, Senior MD & HOR at IDFC SSKI Securities sees more pain going ahead. "I still think there will be some more negative news that we will have to face, with specific regards to interest rates and further liquidity tightening. So we are still not calling it a bottom," he said.
According to him, the right value would be about 17,000 odd on Sensex which would be roughly 12-13 times forward earnings.
Ambareesh Baliga of Karvy Stock Broking feels that the markets will touch 5200 level, but "will not go directly" there. He predicts a pre-budget rally but warns that it could start from a level as low as 5200. He said the major contributors to the fall would be auto and banks. "Banks possibly can fall 8-10% more from here, autos we see another 15-18% sort of a fall from here."

Foreign investors could be pulling the money out for investment in other asset classes, which resulting panic selling by traders today. Deven Choksey of KR Choksey Securities said the selling could be happening through the DMA (daily moving average) route. "Obviously people are withdrawing money for want of having money passed into the dollar assets. However, I don't see fundamentally many things are wrong in the market neither inflation can be having so much of overhang."
Foreign institutional investors were net sellers of nearly Rs 6,000 crore in the month of January as against buying of more than Rs 2.25 lakh crore by them in previous two years.

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Sensex hits 5-mth low, ends 306 points lower; Realty dips 4%

An unstoppable sell-off for 5th consecutive session dragged the Indian equity benchmarks to five-month lows despite positive global cues. The 30-share BSE Sensex slipped below the 18,000 level in an intraday trade - a psychologically important level - for the first time since August 31, 2010, pulled down by selling across sectors. However, the Nifty managed to hold strong 5400-mark, which seems like a major support for the time being.

Pathik Gandotra, Senior MD & HOR at IDFC SSKI Securities sees more pain going ahead. "I still think there will be some more negative news that we will have to face, with specific regards to interest rates and further liquidity tightening. So we are still not calling it a bottom," he said.

According to him, the right value would be about 17,000 odd on Sensex which would be roughly 12-13 times forward earnings.

Ambareesh Baliga of Karvy Stock Broking feels that the markets will touch 5200 level, but "will not go directly" there. He predicts a pre-budget rally but warns that it could start from a level as low as 5200. He said the major contributors to the fall would be auto and banks. "Banks possibly can fall 8-10% more from here, autos we see another 15-18% sort of a fall from here."

Foreign investors could be pulling the money out for investment in other asset classes, which resulting panic selling by traders today. Deven Choksey of KR Choksey Securities said the selling could be happening through the DMA (daily moving average) route. "Obviously people are withdrawing money for want of having money passed into the dollar assets. However, I don't see fundamentally many things are wrong in the market neither inflation can be having so much of overhang."

Foreign institutional investors were net sellers of nearly Rs 6,000 against buying of more than Rs 2.25 lakh crore by them in previous two years.crore in the month of January as

An unstoppable sell-off for 5th consecutive session dragged the Indian equity benchmarks to five-month lows despite positive global cues. The 30-share BSE Sensex slipped below the 18,000 level in an intraday trade - a psychologically important level - for the first time since August 31, 2010, pulled down by selling across sectors. However, the Nifty managed to hold strong 5400-mark, which seems like a major support for the time being.
Pathik Gandotra, Senior MD & HOR at IDFC SSKI Securities sees more pain going ahead. "I still think there will be some more negative news that we will have to face, with specific regards to interest rates and further liquidity tightening. So we are still not calling it a bottom," he said.
According to him, the right value would be about 17,000 odd on Sensex which would be roughly 12-13 times forward earnings.
Ambareesh Baliga of Karvy Stock Broking feels that the markets will touch 5200 level, but "will not go directly" there. He predicts a pre-budget rally but warns that it could start from a level as low as 5200. He said the major contributors to the fall would be auto and banks. "Banks possibly can fall 8-10% more from here, autos we see another 15-18% sort of a fall from here."

Foreign investors could be pulling the money out for investment in other asset classes, which resulting panic selling by traders today. Deven Choksey of KR Choksey Securities said the selling could be happening through the DMA (daily moving average) route. "Obviously people are withdrawing money for want of having money passed into the dollar assets. However, I don't see fundamentally many things are wrong in the market neither inflation can be having so much of overhang."
Foreign institutional investors were net sellers of nearly Rs 6,000 crore in the month of January as against buying of more than Rs 2.25 lakh crore by them in previous two years.

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