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Sensex at 2009 high: Will the surge continue?

Created by : Jyoti Rath, Sr. Associate, Barclays  | 07 31 2009 07:02:38 +0000
Industry : Equity Research/AnalyticsFunctional Area : India(Markets)
Keywords : investment stocks trading shares equity sensex nse bse nifty commodity sensex 2009
Activity:  304 views;  last activity : 07 06 2010 20:18:09 +0000

Today was a good day, the key benchmark index hit a new 52-week high in early deals on the back of gains in overseas markets. With this the Sensex rose 292 points to trade at 15,680 and the Nifty was up 82 points at 4,654.Heavy buying was seen in metal, realty, capital goods and banking stocks and it was the highest since Nov 2008. So what do you think., will the surge continue?


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I think this surge in sensex would not last long enough. As there was no reason that the sensex surged 2500 points with in a week after plumetting below 13000 once. Suddenly the results of the companies has not changed neither the recession globally has shown good signs enough of recovery that such a rally is justified. The rally in  equities is totally dependent on the liquiidity of the market and the FII flows.

So guys keep an eye on the FII figures daily, as these guys can kick in a deep pit anytime they want.
By Darshil , CEO/MD/Director, Darshil Cotton Company  07 31 2009 09:36:05 +0000
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Profits of companies are surging upward ... USA market is recovering from recession

Demand of India automobile will boost auto sector of INDIA on sensex and yeah FIIs need to be taken a note
By Nitin Goswami, Student , M.S. Ramaiah Institute of Managment  | 08 01 2009 15:06:18 +0000
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lets watch it for a weak on day to day basis.the resistance for monay would we 15734,15801,15909..and supports would be at 15626,15518,15452,15344.

the result have been good the same are in the process of getting discounted.and expectation for the next quarter.is good because th eout  look is good,the results are a mixed bag,fall in sales by 5% is a big thing ,the companies were abel to maintain good growth in profits because of reason other then rise in sales.fall in fuel prices,fall in raw material cost,stagnation in salaries.etc reduction in interest cost.
By sandesh saboo, Research Associate/Analyst, saboo associates  | 07 31 2009 09:59:45 +0000
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Slightly deviating from your opinion, the surge had to come, but it was a very rapid change thet had acutually caught the attention. Sucha sharp rise will surely cease to exist, but however, we can actually expect a gradual rise in the sensex along with a recovery in the overall market.
By Amik Adhikary, Central Data Governance, AC Nielsen  | 02 06 2010 07:03:54 +0000
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I agree to Jyoti here...

The markets had a joy because of a good earning season in India as well as good earning in the US.

I believe that the markets may consolidate a bit and will remain range bound as rightly said the concerns are the commodity prices, monsoon and the negative inflation with the prices of consumer goods going high...
By Japan Shah, H.O.D, Oxford School of Management  | 07 31 2009 09:38:55 +0000
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I believe another round of earnings reports gave investors new reasons to be optimistic about the economy which is just taking cues from global markets. The flip side is that the crude oil and other commodities are also climbing. Food prices remain elevated despite headline WPI inflation being in the red for seven successive weeks. Monsoon remains a joker in the pack and could fuel inflationary expectations. The local bulls have to retain their energy for a longer run before leaping to new highs.
By Jyoti Rath, Sr. Associate, Barclays  | 07 31 2009 07:05:04 +0000
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