Sensex lacklustre; ITC, TCS, Bharti, HDFC Bank down

The BSE Sensex and NSE Nifty were completely listless in trade following flat European markets on Wednesday. Shares of Tata Motors, Dr Reddy's Labs, Jindal Steel and BHEL topped the buying list, rising 2-3%.

The BSE benchmark rose 47.06 points to 16906.86 and the NSE benchmark went up 17.5 points to 5,121.30. Even the Indian rupee was moving in a range around 56 to the dollar.

Markets globally are waiting for the statement by Federal Reserve at its two days meeting that will end today. Chairman Ben Bernanke is expected to expand Operation Twist to boost growth and buy protection against a deeper crisis in Europe. The Fed is also likely to keep rates unchanged.

However, Ethan Harris, BofA ML Global Research is not very positive about the outcome. According to him, Operation Twist will not aid economy much.

Back home, engineering and construction major by sales Larsen & Toubro was up 0.9%. Country's largest lenders State Bank of India and ICICI Bank moved up over 0.5%.

State-owned oil & gas producer ONGC rallied 1.6% and top two-wheeler manufacturer Hero Motocorp climbed nearly 2%.

However, the consistent fall in HDFC Bank, ITC, TCS, Bharti Airtel, Coal India, Hindalco and Maruti, which fell 0.7-1%, has capped the upside.

The BSE Midcap and Smallcap indices rose 0.6% each as advancing shares outnumbered declining by 1472 to 1061 on the BSE.

**Source :- MoneyControl.com
**Direct Link :- Click Here

European shares, euro steady awaiting Fed decision

 

LONDON (Reuters) - European shares and the euro steadied on Wednesday, pausing after strong gains, as investors waited to see if the U.S. Federal Reserve will adopt further monetary stimulus to help counter faltering economic growth.

The Fed is set to announce its monetary policy decision at 1630 GMT at the conclusion of a two-day policy meeting, with expectations high that the U.S. central bank will extend its bond-buying program dubbed "Operation Twist".

The hopes for more liquidity from the Fed lifted many riskier asset markets on Tuesday, sending MSCI's world share index up over 1.2 percent <.MIWD00000PUS> and leaving the risk of some disappointment also high.

"It's almost a sure thing that if the Fed fails to deliver to expectations, markets will quickly unwind yesterday's gains, which were premised almost solely on anticipated Fed action," said Cameron Peacock, an analyst at IG Markets.

The FTSE Eurofirst 300 (.FTEU3) index of top European shares was down 0.2 percent in early trading at 1,008.32 points after surging 1.6 percent to a one-month high in the previous session.

Meanwhile, German 10-year bond yields edged up and equivalent Spanish debt yields eased on the hopes of Fed action but traders were cautious ahead of a debt auction by Spain on Thursday.

The euro eased a fraction to trade around $1.2684, after rallying nearly 1 percent in the previous session.

 
(Reporting by Richard Hubbard; Editing by Anna Willard)

***Source  :- Yahoo Finance
***Direct Link :- Click Here

 

NF Fut 20-June

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Xpert Nifty
20-June

As said yesterday consolidation will be seen & hence we have seen a  consolidation but with 80 pts range.

We are expecting that market will show some strength and will move up side till 5180.

Clear update during live market through yahoo messenger.

WeB;- www.XpertNifty.in