RESEARCH VIA DAILY EQUITY REPORT 10/march/2014

ECONOMY ANALYSIS

• Nifty at new high; FIIs binge, operators sit out patiently
• Sensex sets another record closing high, Nifty above 6500
• Birla Capital & Financial Services: Board meeting on March 11, 2014
• Inflation target becomes govt's job after FM, RBI meet
• Bharti Airtel up 5%, S&P upgrades investment grade to BBB-
• NSEL case: Rs 50cr assets of agro firm attached by ED
• Steel sector may witness temporary over-supply: SAIL

 

MARKET ANALYSIS

Indian stock market's benchmark index, that is Sensex, today made two records. It hit an all-time intraday high of 21,960.89 and then went on to make life closing high of 21,919.79.

The 30-stock Sensex closed the day at 21,919.79; up 405.92 points, or 1.89%. The broader 50-share Nifty ended at 6,525.60, up 124.45 points, or 1.94%.

BSE IT index was a loser. The index fell 1.97% at 9,520.00. Small and mid cap indexes also took a beating.Midcap index closed at 6,693.44; down 14.56 points, or 0.22%; while small cap index ended the day at 6,612.45; down 14.01 points, or 0.21%.

Shares of Reliance IndustriesBSE 5.72 % rallied abour 6 per cent in trade on Friday. The stock was the top contributor to the current rally in markets.The stock closed the day at Rs 869.00, up 47.00 points, or 5.72%, on the BSE.

Experts are betting big on the index, saying the rally is likely to continue. They say that it's not just the pre-market rally that one can bet on, but there are high chances of an upmove post election results thanks to improving economic data.

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