MUMBAI: Benchmarks began the new year on a lower note on Monday but soon pared losses and moved in line with other global markets. The gains in FMCG and auto stocks were offset by losses in oil & gas space.
“Domestic exchange had a smooth expiry with Nifty closing just above the 5200 mark. US stocks ended 2009 on Thursday with their best gains since 2003, driven by optimism about the economy's recovery and a brighter outlook for profits. Nifty index is expected to open the New Year on a positive note but surely resistance of 5243 would be very strong. Nifty may witness some selling pressure in the later half of the session,” said Edelweiss report.
Bombay Stock Exchange’s Sensex was at 17524.46, up 59.65 points or 0.34 per cent and the National Stock Exchange’s Nifty was at 5223.05, up 22 points or 0.42 per cent.
BSE Midcap Index was up 0.61 per cent and BSE Smallcap Index moved 0.59 per cent higher.
Amongst the sectoral indices, BSE FMCG Index was up 1.19 per cent and BSE Auto Index gained 0.99 per cent. BSE Oil&gas Index declined 1.89 per cent.
Asian markets were on the rise Monday after initial US jobless claims fell to their lowest weekly level since July 2008 and Chinese manufacturing expanded. The Nikkei climbed 1.37 per cent, Topix rose 1.27 per cent and Hang Seng added 1.75 per cent.
US stocks ended 2009 on Thursday with their best gains since 2003, driven by optimism about the economy's recovery and a brighter outlook for profits. The benchmark Standard & Poor's 500 index rose 23.5 percent for the year, while the Dow climbed 18.8 percent and the Nasdaq jumped 43.9 percent from its close on Dec. 31, 2008. However, For Thursday's session alone, though, US stocks declined, with a late-day sell-off pushing all three major indices down about 1 per cent.
“Domestic exchange had a smooth expiry with Nifty closing just above the 5200 mark. US stocks ended 2009 on Thursday with their best gains since 2003, driven by optimism about the economy's recovery and a brighter outlook for profits. Nifty index is expected to open the New Year on a positive note but surely resistance of 5243 would be very strong. Nifty may witness some selling pressure in the later half of the session,” said Edelweiss report. Bombay Stock Exchange’s Sensex was at 17524.46, up 59.65 points or 0.34 per cent and the National Stock Exchange’s Nifty was at 5223.05, up 22 points or 0.42 per cent.
BSE Midcap Index was up 0.61 per cent and BSE Smallcap Index moved 0.59 per cent higher.
Amongst the sectoral indices, BSE FMCG Index was up 1.19 per cent and BSE Auto Index gained 0.99 per cent. BSE Oil&gas Index declined 1.89 per cent.
Asian markets were on the rise Monday after initial US jobless claims fell to their lowest weekly level since July 2008 and Chinese manufacturing expanded. The Nikkei climbed 1.37 per cent, Topix rose 1.27 per cent and Hang Seng added 1.75 per cent.
US stocks ended 2009 on Thursday with their best gains since 2003, driven by optimism about the economy's recovery and a brighter outlook for profits. The benchmark Standard & Poor's 500 index rose 23.5 percent for the year, while the Dow climbed 18.8 percent and the Nasdaq jumped 43.9 percent from its close on Dec. 31, 2008. However, For Thursday's session alone, though, US stocks declined, with a late-day sell-off pushing all three major indices down about 1 per cent.
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