The market recouped early losses amid choppy
trade. The Sensex rose 58.39 points to 29517.53 and the Nifty climbed 8.65
points to 8965.40.
The broader markets outperformed benchmarks with
the BSE Midcap and Smallcap indices rising 0.8 percent each. Advancing shares
outnumbered declining ones by a ratio of 1291 to 712 on the Bombay Stock
Exchange.
Sakthi Siva, Credit Suisse says with MSCI Asia
ex-Japan up 8 percent from the lows of December 17, the key question for
investors is whether it is time to take profits.
"If we look at the last two years, the
answer appears to be yes as the Index peaked with price-to-book at 1.58x in
September 2014 & November 2013 and the current price-to-book is already
1.57x," she adds.
TCS and Reliance Industries topped the buying
list on Sensex and were also the major contributors to Sensex' gains, rising 2
percent each. HDFC, Sun Pharma, Wipro, Dr Reddy's Labs, Sesa Sterlite and Bajaj
Auto gained 1-1.7 percent.
0 comments:
Post a Comment