Friday, July 04, 2008

Markets Moving Up - 04 July Update

Markets have up sharply on the back of buying by domestic mutual fund houses and FIIs on friday.

The Sensex has touched an intraday high of 13,509.74 before ending the day at 13,454, up 359.89 points or 2.75%.

The Nifty, which hit a high of 4033.50 during the day, but only to close at 4016, up 90.25 points or 2.3%.

Some sectors like realty, capital goods, power, banking and FMCG were the favourites for the investors. Especially, Realty and Capital Goods Indices shot up 8% and 6.8%, respectively.

But there was bad news for the consumers. Inflation for the week ended June 21 has inched up to 11.63% as against 11.42% in earlier week.

The looming political crises at the centre or the inflation numbers or the global energy prices did had no effect on the markets.

The rally in the stock market was more to do with the prices of some of the blue chips sectors especially like realty, power and so forth.

Sector of the day was Realty. Real estate stocks like Ansal Properties, HDIL, Peninsula Land, Mahindra Life, DLF, Unitech and Indiabulls Real gained 7 to 14% on friday.

Power stocks also got the fancy of the investors, with index shot 132.61 points or 6.1% to close at 2,306.24.

Power stocks like Tata Power, Lanco Infratech, Suzlon Energy, Reliance Infra, GMR Infra, GVK Power and Reliance Power were up 4 to 9%.

Other stars of the day were, Reliance Comm up 12.50%, Siemens 11.17%, Jaiprakash Associates 10.65%, Tata Power 9.78%, Unitech 8.01%, DLF 8.56%, BHEL 7.43% and Reliance Infra 7.21%

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