10:20am Market Expert
The market has already garnered more than 35 percent returns this
year, yet Jyotivardhan Jaipuria, head-Research, Bank of America Merrill Lynch
is hopeful of positive returns in the coming year, though lower than
2014. He expects around 15 percent returns in 2015.
Speaking to CNBC-TV18, he says the government is likely to change its fiscal
deficit target of 4.1 percent in its mid-year review of the economy on Friday.
According to him, the expenditure cut by finance minister Arun Jaitley
signals a positive move and the first quarter of next year should see some big
ticket divestments by the government.
Going ahead, Jaipuria expects 25 percent earnings growth in FY17. He expects
earnings to double over the next four years. However, Q3 earnings for FY15 may
fall below expectation due to sluggish demand and inventory losses by sudden
fall in crude prices.
10:00am Market Check
Equity benchmarks gained more strength in morning trade led by rally in
heavyweights like Reliance Industries, Infosys, HDFC and ICICI Bank. The Sensex
surged 325.86 points or 1.20 percent to 27452.43 and the Nifty rose 87.85
points or 1.08 percent to 8247.15.
The broader markets rallied too with the BSE Midcap and Smallcap indices
rising 1.3 percent and 1.5 percent, respectively. About 1461 shares have
advanced, 473 shares declined, and 60 shares are unchanged on the Bombay Stock
Exchange.
Brian Kelleher, Morgan Stanley says India's BSE Sensex has fallen 6.2 percent as global risk aversion started to take hold from December 4, slightly lagging MSCI Asia Pacific ex-Japan.
"We acknowledge that India remains one of the best-performing markets
globally in 2014, but given the strong reform momentum, we think this pause is
a good opportunity to revisit some strong buying ideas," he adds.
Shares of ICICI Bank, Reliance Industries, Infosys, HDFC, L&T, TCS, HDFC
Bank, Maruti Suzuki, Axis Bank, Wipro and Tata Motors gained 1-2 percent.
M&M, Hero Motocorp, Sesa Sterlite and Coal India climbed over 2 percent
while Bharti Airtel fell 1 percent.
Monte Carlo Fashions opened at Rs 584, down 9.5 percent compared to issue
price of Rs 645 a share. It was trading down 3 percent at Rs 626.50. More
information please visit this site www.bigprofitbuzz.com
No comments:
Post a Comment