Sensex shrugs off global cues to rebound; Gold may hit Rs 31,500, but rally may not sustain

THE ECONOMIC TIMES Wed, Mar 09, 2016 | 05:51 PM IST ET Market Watch Newsletter

Warning sign for investors! Global brokerages turn bearish on India Analysts on Dalal Street still remain gung-ho on the Indian market and expect the Sensex to scale the 32,000 level comfortably over the next 12 months. Mapping the market: Sensex shrugs off global cues to rebound; realty on a high Boosted by strong interest from foreign institutional investors after the Union Budget, the 30-pack index extended the winning streak to the sixth day today. Gold may hit Rs 31,500, but pullback rally may not sustain for long: Experts Gold prices reclaimed Rs 30,000 level per 10 gm in futures trade on Tuesday on positive global cues, but analysts do not expect a runaway rally from here on.

InterviewOne to One "DCM Shriram is a billion dollar company and it can easily grow to be a $2 billion company in the next few years"... Porinju Veliyath ,MD & Portfolio Manager,Equity Intelligence India

Market Watch 9 Mar | 05:51PM| SENSEX NIFTY USD/INR GOLD 24793.96 ↑134.73 7531.80 ↑46.50 67.21 ↓-0.14 29533.00 ↓-276.00

Gainers Losers 9 Mar, 2016, 05:51PM IST, PTI|View All Company Name Live Price Change (%) Volume High Low Birla Cotsyn (India) Ltd. 0.05 25.00 23040872 0.05 0.03 Lux Industries Ltd. 3288.00 20.00 3025 3288.00 2889.50 SV Global Mill Ltd. 162.60 20.00 2129 162.60 113.20

FROM THE NEWSPAPER

Nabard tax-free bond draws huge response, subscribed 3.96 times Major demand was seen from scheduled commercial banks (SCBs) and insurance companies, which come under category I. The cagetogy bid for 10.72 its total quota limit. Bahubali of midcaps! 50% stocks still trade above 5-year PE after correction The S&P BSE Sensex has plunged a little over 6 per cent so far in 2016 while the S&P BSE midcap index is down about 8 per cent in the same period. Five stocks that rose through recent market crash to deliver good returns In the selloff that saw the Nifty50 plunge 6 per cent in the first two months of the New Year, there have been stocks that defied the broader market trend. PM Narendra Modi taunts Congress, says it is above criticism Prime Minister Narendra Modi on Wednesday equated the Congress party with "mrityu (death)" but hastened to add that like death is never subjected to criticism. SC refuses to concede to lenders' demand for Vijay Mallya's presence in court Attorney General Mukul Rohatgi, who sought such an order from court, said the UB Group chairman's Twitter messages showed that he may be in London.

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