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Global cues supports Indian run - January 17, 2012

January 17th, 2012

Positive sentiment in the global markets, particularly because of the good numbers from the Chinese markets and news that there is fresh inflow of foreign money invested in Indian markets has made stocks to have a run today.

The SENSEX was comfortable in jumping having ticked 16466.00 point by closing time today adding 276.60 points (1.71%). NIFTY is more close to the 5k mark after it closed at 4967.30 points today, adding 93.40 (1.92%) in session today. The CNX Midcap closed at 6725.30 gaining 78.25 (1.18%) while BSE Smallcap ticked 6258.45 gaining 66.42 (1.07%).

While the overall market sentiment is positive, those stocks which brought in some piece of positive news have jumped even more.

Maruti Suzuki for instance said that it raised prices of most vehicle models by Rs 2,400-17,000 due to high input costs & currency. And the script zoomed a whopping 10% in a single day! The script closed at Rs. 1109.95 gaining Rs. 105.30 (10.48%).

HCL Tech announced its numbers today. Its Q2 cons net went up 15.4% to Rs 573 cr and revenues rose 13% to Rs 5245 cr QoQ. The script closed at Rs. 425.40 jumping up Rs. 19.45 (4.79%) with a volume of 4.79m shares traded.

Positive sentiment continued in PSU counters, particular in SBI. SBI said it will get Rs 6,000-8,000 cr capital infusion by March. The stock closed at Rs. 1844.00 gaining Rs. 27.60 (1.52%) amidst a volume of 2.27m shares traded.

Entry Filed under: Equity Markets, IT & ITes, Automobile, Banks & NBFC, Closing Bell