Nifty, Sensex firm; IFCI, Berger, Leyland lead gainers
Benchmark indices were firm early Monday, but brokers said investors were cautious about valuations and awaiting some definite triggers before firming up their near term view.
February 04, 2013 / 11:50 IST
Moneycontrol Bureau
Benchmark indices were firm early Monday, but brokers said investors were cautious about valuations and awaiting some definite triggers before firming up their near term view.The Sensex up 92 points at 19873 and the Nifty was up 28 points at 6027.With the third quarter earnings season as good as over, the focus once again has shifted to liquidity. Broadly, analysts agree that the worst of earnings estimate downgrades may be behind. At the same time, the majority view is that earnings upgrades will take at least a couple of more quarters to materialize.Shares of IFCI, Berger Paints, Ashok Leyland, UltraTech Cement and Tata Motors were up 2-4 percent.Auto, banking and realty shares were in demand, while investors ignored shares from the power, healthcare and capital goods sectors.Indian Bank shares were among the big losers in early trade, after reporting a 37 percent drop in net profit for the December quarter.Opto Circuits, Essar Oil, Jet Airways and Ranbaxy were the other key. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
