IPP Figures For October Boosts Up Market Sentiments,Closes Higher Beating Global Cues.

13 Dec

Posted by Shyam as Opinions

It was another day of ups and downs in the markets but finally beating the global cues the markets ended the day in green.The sensex gained 85 points to close at 20,376 points and nifty was up 62 points.The intra day high of sensex was 20,419 with lows of 20,045 points.It maintained its position above 20,000 mark consistently and nifty too above 6,000 levels.It was basically due to the robust growth in the Index of Industrial Production (IIP) to 11.8% in October from 4.5% in the year ago period.

The Edelweiss IPO which we recommend here a few days ago also got listed and gave a decent premium of 83.1%.It closed the day at Rs 1,510 levels.Hopefully the other IPOs coming in would also give some very good returns.Meanwhile the US markets also ended in green yesterday by gaining 0.3% and 0.7% respectively.SAT has allowed the delist of Essar Steel at a price of Rs 48.

A few of the calls given out yesterday did well like omaxe was up by 5.62%,Riga sugar was up by 7.54%,shreya shipping was up by 3.56%,VJIL consulting was up by 9.91%,bharat gears was up by 8.08%,hitech plastic was up by 10%,India Gelatine was up marginally,Essar shipping was down marginally and Ansal housing,kisan mouldings did not perform as per expectations.But they are going to perform in coming time.

Some calls for the scripts for coming days:

Punj Lloyd cmp 556
Ansal Properties cmp 418
GMR Infra cmp 243
Reliance Capital cmp 2511
National Aluminium cmp 451
Omaxe cmp 591
Parsvnath Dev cmp 429
Gillette(i) cmp 1012
sks logistics cmp 73
Berger paints cmp 62
Jindal saw cmp 1033

The markets may react positively today to the global cues which are marginally up due to the Fed rate cut announcements.Lets hope for the best.