Diwali Samvat 2068 Stock Picks
Wednesday, October 26, 2011
It was a positive start as Samvat 2068 began with the Nifty hovering above 5200. Profit booking was seen in the closing half an hour. Investors were probably jittery ahead of the much awaited meeting to resolve Europe’s sovereign debt crisis.
The Nifty opened at 5215 and hit a high of 5219. The low for the special trading session was 5196. The Nifty finally ended just above the 5200 mark.
The Indian markets closed the Muhurat Trading Session with marginal gains. Major sectoral gainers: BSE CG up by 0.87%, BSE PSU up by 0.83%, BSE HC up by 0.82% BSE CD up by 0.81% and BSE Power up by 0.60%.
The Top ‘A’ group gainers: Jain Irrigation up by 5.50%, Indiabulls Financial Services up by 4.24% and Exide Industries up by 3.72%.
The Sensex closed at 17289, up by 34 points and the Nifty rose 10 points to settle at 5202.
Key benchmark indices edged higher to attain 11-1/2-week closing highs during the auspicious Muhurat trading session today, 26 October 2011, on hopes that a much-awaited summit of euro-zone leaders will present a convincing plan to handle the 2-year old euro-zone debt crisis. The barometer index BSE Sensex rose 33.97 points or 0.2%, off close to 60 points from the day's high and up about 15 points from the day's low. The market breadth was strong.
Index heavyweight Reliance Industries (RIL) reversed initial gains. Another index heavyweight ICICI Bank fell. IT stocks edged lower. Two-wheeler major Bajaj Auto hit a record high. Metal shares were mixed. Sesa Goa fell on poor Q2 results. Interest rate sensitive realty and banking stocks rose after RBI hinted that a pause in interest rate hikes is likely at its December 2011 policy meeting. Cigarette major ITC hit record high.