High expectations of Nifty breaking out 6,050

The level 6050 has turned out as a bit of a stumbling block for the market in the past, over the last four weeks. Today it seems to be negotiating it quite well despite fairly sideways and edgy global market performance around us. Part of it is because of good earnings from companies like Tata Consultancy Services (TCS) and Axis Bank . It is also due to rate cut expectations which have picked up after the inflation numbers, says CNBC-TV18's Managing Editor, Udayan Mukherjee.

Today's star sector was telecom. Bharti had a big rally, despite the fact that its chief executive officer (CEO) Sanjay Kapoor stepped down today. However, that did not deter the stock. Idea and Reliance Communications were also on fire.

Also read: Calibrated voice tariff hike to aid telcos earnings: IIFL

Cement was another space which did well pretty much across the board led by Ambuja and Ultratech Cement . ITC was a gainer today. Axis Bank did well after a solid set of earnings. TCS and DLF were another gainer. Not too many losers, stocks like HCL Tech and Sesa Goa were slightly subdued. Reliance did not participate much to the index gains today. Overall there was a solid session for the large caps led by the telecoms.

Broader market was fine. The breadth was good and volumes were not too bad today. There were individual winners as already spoken about the telecom names. However, stocks like Hexaware , HCL Infosys on the back of the restructuring expectations, MCX , Yes Bank ahead of results, Renuka , Berger Paints , South Indian Bank and BPL were some of the names which did quite well.

All in all two good days on the trot which has raised expectations of a breakout pass 6050 and 20000 Sensex once again.

Anda sedang membaca artikel tentang

High expectations of Nifty breaking out 6,050

Dengan url

http://harmonisem.blogspot.com/2013/01/high-expectations-of-nifty-breaking-out.html

Anda boleh menyebar luaskannya atau mengcopy paste-nya

High expectations of Nifty breaking out 6,050

namun jangan lupa untuk meletakkan link

High expectations of Nifty breaking out 6,050

sebagai sumbernya