Pre Session: January rally may continue; Wipro posts good Q3 results Analysis for Jan 20, 2012

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Indian markets are once again getting positive cues from foreign markets as markets around the world are on a liquidity driven rally. Asian markets have opened in green on positive global cues from the European and US markets. The US markets ended in green yesterday. The market sentiments were bolstered by the drop in the initial weekly jobless claims which came down by 50000 to 352000.Morgan Stanley"s results were better than market expectations while Bank of America"s results fell short of it. The European Markets ended in green yesterday after market sentiments were lifted by the successful French and Spanish bond auctions. The Euro continued to strengthen against the dollar. It has gained 2.2 per cent against the dollar week-till-date and this is a reflection of improved sentiments in Europe.

Wipro"s third quarter results are above market expectations. Its profit after taxes during the quarter stand at Rs 1456 crore while its rupee revenues are 9997 crore. Reliance industries will come out with its third quarter numbers today and this will have influence on the sentiments of the markets today.

Yesterday the BSE SENSEX closed at 16643.74 up by 192.27 points or by 1.17 % and the NSE Nifty ended at 5018.4 up by 62.6 points or by 1.26 %.The BSE MIDCAP closed at 5669.99 up by 80.1 points or by 1.43 %, while the BSE SMLCAP ended at 6272.23 up by 76.53 points or by 1.24 %.The BSE Sensex touched intraday high of 16662.06 and intraday low of 16572.1 The NSE Nifty touched intraday high of 5023.8 and intraday low of 4991.4.

The net investments by FIIs on 19th January, 2012 in Indian capital markets stood at Rs 773.80 crore. The net FII investments were positive yesterday.

The gross purchases by the FIIs in the Indian equity markets were of Rs. 3002.40 crore. The gross sales were of Rs.2041.10 crore. The net investment in the equity markets by FIIs on January 19th , 2012 stood at Rs 961.30 crore.

The gross purchases by the FIIs in the Indian debt markets were of Rs 685.40 crore. The gross sales by FIIs were of Rs 873.00 crore. The net investment by the FIIs in the debt markets stood at Rs – 187.50 crore.

Today, the Asian markets have opened in green on positive global cues from the European and US markets. At 7.40 A.M. Indian time, the Nikkei 225 was up 115.03 points and was at 8754.71. The Hang Seng was up 0.42 points and was at 19943.75. The Shanghai composite was up 2.66 points and was at 2298.73.

The US markets ended in green yesterday. The market sentiments were bolstered by the drop in the initial weekly jobless claims which came down by 50000 to 352000.Morgan Stanley"s results were better than market expectations while Bank of America"s results fell short of it.The Nasdaq closed at 2788.33, gaining 18.62 points over the previous day"s closing. The Dow Jones Industrial gained 45.03 points and closed at 12623.98. The S & P 500 gained 6.46 points and closed at 1314.5.

The European Markets ended in green yesterday after market sentiments were lifted by the successful French and Spanish bond auctions. The Euro continued to strengthen against the dollar. It has gained 2.2 per cent against the dollar week-till-date and this is a reflection of improved sentiments in Europe. The DAX gained 61.69 points and closed at 6416.26. The FTSE 100 gained 38.78 points and closed at 5741.15. The CAC was up 64.01 points and closed at 3328.94.

Gold futures ended lower by 0.3 % to close at $1654.60 per ounce, while silver futures gained 0.3 % and closed at $ 30.55 per ounce. Crude oil futures lost 0.3 % to close at $ 100.35 per barrel.

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