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(prHWY.com) March 11, 2013 - indore, India -- Indian Market
* Indian equity markets were up 1.41%
* Nifty up by 82.40 pts and settle at
5945.70
* Sensex up by 269.69 pts at 19683.23
* Bank Nifty up by 227.00 pts at 12197.25
Global Market
* European markets were up with FTSE up by 31.42 closed at 6470 ,CAC up by 37.67 closed at 3831 and DAX up by55.61 closed at 7995.
* Dow future was up 66.00 closed at 14382.00
Market Analysis
* Key benchmark indices surged as upbeat Chinese exports data for February 2013 suggested increasing demand for Chinese goods and a rebound in the global economy. China is the world's second biggest economy after the United States. The barometer index, the 30-share S&P BSE and the 50-unit CNX Nifty, both, hit their highest level in more than two weeks. The Sensex was provisionally up 252.32 points or 1.3%, off close to 40 points from the day's high and up about 190 points from the day's low. The market breadth was strong. Indian stocks gained for the fourth straight session today, 8 March 2013.
* BSE Sensex was up 252.32 points or 1.3% to 19,665.86
* CNX Nifty was up 80.05 points or 1.37% to 5,943.35
* Among the 30-share Sensex pack, 24 stocks rose while rest of them fell.
* Metal stocks edged higher as global commodity prices rose. Sterlite
Industries, Hindalco Industries and Hindustan Zinc gained 0.15% to 0.33%.Among iron ore mining firms, Sesa Goa and NMDC gained by 0.27% to 1.24%.PSU Bank stocks gained after the Finance Minister on 28 February 2013 said that the government will provide Rs 14000 crore for capital infusion in public sector banks in FY 2014. State Bank of India rose 0.81%. Among other PSU bank stocks, Union Bank of India, Bank of India, Bank of Baroda and Punjab National Bank gained by 0.28% to 1.81%.Capital goods stocks extended recent gains. Bhel, Siemens, ABB and BEML rose by 0.14% to 0.71%.
HEADLINE
* Jet shares surge on renewed hopes of
stake sale to Etihad
* India set to halt Iran oil imports over
insurance: MRPL
* Maruti to suspend petrol car production
at Gurgaon plant
* Not affected by turmoil in auto sector,
says Hind Motors
STOCKS TO WATCH
* FEDERAL BANK
* VOLTAS
* IDFC
* IDBI BANK
SCRIPS IN BAN PERIOD
* HDIL
FACTORS TO WATCH
NIFTY
* Nifty looks Bearish
* Strategy: Sell on rise
* Support: 5820
* Resistance: 5900
BANK NIFTY
* Bank Nifty looks Bearish
* Strategy: Sell on rise
* Support: 11900
* Resistance: 12040
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