From The Market : Sensex,Nifty Closed Above 1.6% In The Hope Of Rate Cut

After yesterday’s free fall The BSE Sensex rose as much as 290 points intraday on Friday as traders seemed to have added long positions ahead of Greek election over the weekend and RBI monetary policy on Monday 18 June. The Sensex and the Nifty closed up 1.6 percent and 1.7 percent respectively.

The BSE benchmark recouped all yesterday's losses that rose 272 points or 1.63% higher, to close at 16,949.83. Meanwhile, the NSE benchmark gained 84.30 points at 5,139.05.

The market breath was positive. On the BSE, 1,523 advanced while 1,169 declined.

Anticipation of a rate cut has boosted market today and also better cues from global market. However, most experts feel that more or less the market has already priced in 25 basis points cut in both repo rate and cash reserve ratio (CRR). If the RBI delivers the same then the policy would be a non-event and market might take u turn, say experts.

Infosys & Cipla In The Top Gainers,PNB Is The Toppest Looser In The Index

NSE Top Loosers
Company Name	High	Low	Last Price	Prv Close	Change	% Loss
PNB	799.9	767	769.45	814.15	-44.7	-5.49
Tata Motors	239.45	225.6	226.7	237.4	-10.7	-4.51
IDFC	134.95	128.3	128.85	134.15	-5.3	-3.95
SAIL	95.5	90.8	91.3	95.05	-3.75	-3.95
Larsen	1349.35	1288.75	1296.9	1349.9	-53	-3.93
NTPC	154.4	147.6	148.25	154.3	-6.05	-3.92
ICICI Bank	849	816	818.85	849.35	-30.5	-3.59
Bank of Baroda	712.2	689.4	694.1	719.6	-25.5	-3.54
SBI	2218.7	2144.1	2150.25	2226.05	-75.8	-3.41
Reliance Infra	517	497.05	500.05	517.05	-17	-3.29
NSE Top Gainers
Company Name	High	Low	Last Price	Prv Close	Change	% Gain
Infosys	2510	2461	2498.3	2470.1	28.2	1.14
Cipla	308.25	303.1	306.65	303.25	3.4	1.12
BPCL	742.7	724.1	739.35	732.4	6.95	0.95
ACC	1208	1171.3	1189.95	1180.1	9.85	0.83
Cairn India	325.9	320.55	324.15	321.8	2.35	0.73
TCS	1261.5	1245	1254	1250.4	3.6	0.29
ITC	248.65	243.05	244.7	244.05	0.65	0.27
Sesa Goa	191.45	185.6	187.65	187.35	0.3	0.16
Sterlite Ind	103.9	100.35	101.9	101.75	0.15	0.15
Reliance	720.8	711.05	716.35	716.3	0.05	0.01

From The Market : Nifty Goes Below 200 Day Moving Average

The BSE Sensex and NSE Nifty fell above 1% each at the end of trading session due to further fall in rate sensitives, after rising inflation trimmed rate-cut hopes.

Inflation rose to 7.55% for May as against 7.23% in previous month and economists say, even core inflation increased to 4.86% versus 4.77% month-on-month.

The 30-share BSE benchmark tumbled 202.63 points to 16,677.88 and the 50-share NSE benchmark lost 66.70 points to 5,054.75.

Also Nifty & Bank Nifty closed below it’s 200 day moving average 5069.7 & 9864.1 respectively. 

On the other hand the Indian rupee too was moving towards the 56 level that depreciated by 19 paise to 55.87 as against the US dollar.

Nifty toched 5000, Sensex goes over 16400 pts

Hopes of rate cut by the Reserve Bank of India and meeting between all key ministries and prime minister to take stock this evening improved sentiment of the market. Globally all eyes are on European Central Bank's meet; market experts expect some indication from the bank to revive economic growth in eurozone.As result Nifty goes above 5000 important level (close 4997) & sensex closes above 16400.