Record Level of Today- The S&P BSE Sensex and the Nifty extended intraday
gains towards the end of the session on Wednesday and closed nearly 500 and 150
points higher respectively as foreign institutional investors pumped in dollars
on hopes of interest ratecuts by the Reserve Bank of India at its policy meet
next month.
India's headline wholesale inflation eased below 5 per cent in April, dropping within the
central bank's comfort zone for the first time in more than three years.
"We expect the RBI to cut policy rates 25bp
on June 17 and have preponed another 25bp rate cut to July 30 from October. To
improve bank liquidity to soften lending rates, the RBI should continue to OMO
(Rs 1600 billion BAMLe) in FY14, assuming 50bp CRR cut in 2HFY14," said Bank
of America Merrill Lynch report.
The 30-share index registered its biggest gain in
terms of points in at least one year to close at 20,215.30, up 493.01 points or
2.50 per cent. It touched a high of 20,241.96 and a low of 19,798.18 in trade
today.
The Nifty closed at 6,142.25, up 146.85 points or
2.45 per cent. It touched a high of 6,157.10 and a low of 6,018.85 in trade
today.
Tomorrow stock tips India 16 May Free intraday nifty trading
tips calls-
Buy- Bajaj
Finance with Target of Rs. 1410/1412/1435.00 SL- 1470.00
Sell- NIIT
Technology with Target of Rs. 260/258/256/254.00 SL- 266.50
Buy- Tech
Mahindra Ltd with Target of Rs. 958/962/966/970.00 SL- 940.00
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