Markets Ends Higher:Up By 360 Points

01 Dec

Posted by Shyam as Opinions

So finally as expected and predicted over here “The markets did close with a positive tone”.The sensex gained 360 points to close at 19363 points and nifty was up by 128 points.Over all the market breadth was positive with 815 advances against 378 declines in nifty.That did set the mood of the investors.

In week ending Nov 30 many sectors were up like BSE IT and Capital goods was up by 5%,Reality was up by 8%,Bankex was up 4.6%.Finally due to the weakening dollar the IT sector also seems to be moving up.Everyone i eagerly waiting for Fed rate cut in mid Dec which may give a further boost to the markets.In Indian context there is some news that GDP growth has slowed down to 8.9% in july to sept quarter from 10.2% in corresponding period last year.Thats a bit of concern but as always the Indian economy is poised to grow at a good rate.

The month of Dec is expected to be a bit jittery for the markets.It may be range bound at the most.20,000 in sensex is what everyone must be looking for.This time around wait and watch policy will be better.Some analyst are predicting that by Dec 2008,Indian markets will touch 25,500 levels from here.

Lets watch some of our call performances in the last two days.ILF&S call was given at 257 ,it is trading now at 343 levels,Ispat was called at 43,its now trading at 51.45,essar was called at 200 now trading at 242,Punj Lloyd called at 456 now at 510,GMR moved up by Rs 8,Maruti call given at 967 now at 1012,Tata motors moved up by Rs13,Gujurat Alkali moved up by Rs8.Few others closed flat like sks logistics,Nalco etc.The one stock which didn’t perform as per expectation was Bhushan Steel,the call was given owing to some news from the company.Hopefully it will perform in coming days.

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