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Jan 09, 2020 03:34 PM IST | Source:

Easing US-Iran tensions help Nifty close above 12,200, Sensex recoups weekly loss

Except IT, all other sectoral indices ended higher led by the PSU bank, infra, auto, metal, energy, FMCG and pharma.

  • January 09, 2020 05:09 PM IST

    Rupee Closing

    The Indian rupee ended at 71.21 a dollar, appreciating 48 paise from Wednesday's close of 71.69 a dollar.

  • January 09, 2020 04:32 PM IST

    Sterlite Technologies to buy stake in Israel company: Sterlite Global Venture (Mauritius) a wholly owned subsidiary of Sterlite Technologies, has entered into definitive agreements to acquire 12.8% stake (on issued and outstanding basis) in ASOCS, a vRAN technology company based out of Israel. 

  • January 09, 2020 04:26 PM IST

    Gaurav Ratnaparkhi, Senior Technical Analyst, Sharekhan by BNP Paribas:

    The Nifty witnessed sharp reversal in sentiments on account of global cues. As a result the index opened with a huge gap on the upside & even managed to build upon the early gains. On the way up, the index has surpassed its crucial hourly as well as daily moving averages, which were acting as resistances in the last couple of sessions. The Nifty has also filled up the gap of 12,179–12,191 & has reclaimed the 12,200 mark. Going ahead, 12,250-12,300 will be the key barrier zone to watch out for. Once that gets taken out, Nifty will be poised for significant upside from short to medium term perspective. However, a minor degree dip towards 12,150-12,100 is possible before the index stretches higher.

  • January 09, 2020 04:22 PM IST

    Emami Paper Mills Q3 result: The company's Q3FY20 net profit rose 224 percent at Rs 18.5 crore versus Rs 5.7 crore, while revenue rose 7.4 percent at Rs 400.1 crore versus Rs 372.6 crore, YoY.

  • January 09, 2020 04:19 PM IST

    Ajit Mishra, VP - Research, Religare Broking:

    It turned out to be a phenomenal day for the equity markets as the benchmark rose over one and a half percent and settle around the day’s high. The surge was largely in reaction to the statement from the US President, who opted not to respond to the Iranian attack on the US troops. Besides, a sharp decline in the crude and strengthening of the rupee further added to the buoyancy. Almost all the sectoral indices, barring IT, rebounded sharply and ended with decent gains. The market breadth too was inclined strongly on the advancing side, thanks to upbeat broader indices.
    Markets are on a roller coaster ride and there’s no clarity over the trend. Needless to say, Nifty has a strong hurdle at 12,300-12,400 zone and a decisive breakout can only change the prevailing bias else consolidation would continue. We advise keeping limited positions in such a scenario and preferring index majors over the others as they tend to witness less volatility.

  • January 09, 2020 04:15 PM IST

    Nagaraj Shetti – Technical & Derivative Analyst, HDFC Securities:
    After showing a promising upside bounce from the lows in the last session, the Nifty witnessed a hefty gains today and closed higher. A long bull candle was formed today with gap up opening and closed near the highs. The opening upside gap remains unfilled. Technically, this action indicates a strong comeback of bulls and this pattern seems to have nullified the negative status created by the panic selling of January 6, 2020.

    The short term trend of Nifty is positive, there is a possibility of further upside in the next session. The Nifty could encounter the upside resistance of 12,290-300 levels in the next 1-2 sessions.

  • January 09, 2020 04:09 PM IST

    Vinod Nair, Head of Research, Geojit Financial Services:

    Expectation for initiatives to bring growth in the upcoming budget and easing tensions in the Middle East seems to cheer investors. Government is poised to bring initiatives and policy measures to support the economic growth to benefit equities for long term. Meanwhile, the short term market trend will be driven by events like Q3 results which are expected to show some improvement due to low base.

  • January 09, 2020 04:01 PM IST

    S Ranganathan, Head of Research at LKP Securities:

    Diplomatic Handling of the Iran-US Geopolitical situation by the US President calmed markets today. Back Home the keen interest shown by the Prime Minister in resolving the slowing economy cheered equity markets which witnessed buying in key pivotals and select midcaps.

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