Daily Equity Report By www.epicresearch.co - 31 JULY 2012

Daily Equity Report by www.epicresearch.co - 31 JULY 2012 Daily Market * Indian equity markets up 1.96% * Nifty up 99.95 pts and settle at 5199.80 * Sensex up 304.49 pts at 17143.68 * Bank Nifty up 271.60 pts at 10412.15

INDORE, India (prHWY.com) July 31, 2012 - Daily Equity Report by www.epicresearch.co - 31 JULY 2012

Daily Market
* Indian equity markets up 1.96%
* Nifty up 99.95 pts and settle at 5199.80
* Sensex up 304.49 pts at 17143.68
* Bank Nifty up 271.60 pts at 10412.15
Global Market
* European markets were up with FTSE up by 40.81 pts at 5668.01, CAC up by 15.59pts at 3295.78 and DAX up 49.05 pts at 6738.45
* Dow future down 27.00 pts at 13006.
Market Analysis
The BSE benchmark ended above the key 17,000 mark on the back of a global rally in equities. The Sensex soared 304 points or 1.8 per cent, its biggest rally in over one month, while the broader Nifty index advanced 100 points to 5,199.80. Markets ended near the day's high, signaling further bullishness ahead. Global cues helped sentiments today. Asian stocks closed higher and European markets also traded with strong gains.
Global stocks started rallying ever since the ECB president resolved to save the Euro zone last Thursday. Analysts also expect the US Federal Reserve to announce monetary easing action later this week after US GDP grew at 1.5 per cent in Q2, the weakest since the third quarter of 2011. Power, realty and capital goods shares were the top gainers, rising over 3 per cent. Banking stocks also rebounded sharply, gaining 2.7 per cent on the BSE.
On the Nifty index, infra Major Jaiprakash Associates was the top gainer, rising 5.7 per cent. Reliance Infra gained 5.4 per cent. Oil and gas major Cairn India and infra lender IDFC were the other big gainers, rising 4-5 per cent.On the Nifty, only 4 of the 50 stocks closed lower. Ambuja Cements was the top loser, down 1.3 per cent. IT major Wipro, which expects to grow at the lower end of analysts' expectations in the September quarter, shed 0.5 per cent. State run oil explorer ONGC and IT major HCL Tech also saw minor losses.The market breadth continued to remain strong with nearly 80 per cent shares rising on the broader BSE 500 index.
News you can use
* Maruti hit by downgrades, analysts lower EPS estimates post Q1 results
* ICICI Bank, Axis Bank, BOB rally ahead of RBI policy meet
* Lupinshares gain onNovartis tie-upreport
* Reserve Bank of Indiaurges corporates to cut orex speculation
* GAILnet profit up15%at Rs1134cr,stock
Factors to watch:
NIFTY
* Nifty looks bullish
* Strategy: Buy on dips
* Support:5140
* Resistance:5280
BANK NIFTY
* Bank Nifty looks bullish
* Strategy: Buy on dips
* Support: 10345
* Resistance:10490
STOCKS TO WATCH
* UB HOLDING
* MARUTI
* JET AIRWAYS
* UNITED SPIRITS
* TATA STEEL
SCRIPS IN BAN PERIOD

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