Sensex rises 100 pts, Nifty above 9900; Reliance Industries AGM to begin shortly
Equity benchmarks extended gains in morning trade, with the Sensex up 122.97 points at 32,027.37 and the Nifty up 38.50 points at 9,911.80.
Reliance Industries rose 3 percent ahead of company's 40th Annual General Meeting at 11 am.
About 1,155 shares advanced against 584 declining shares on the BSE. There are just a little over 100 points left for the Nifty to clock 10,000 and IL&FS recommends exercising caution once it hits the milestone.
“It will be a happy event (to reach 10,000), but I think it is a level from where you need to be careful. The market has gone up a lot. From this point, valuations are very expensive when the earnings are tepid,” Vibhav Kapoor of IL&FS told CNBC-TV18 in an interview. At the most, there could be a gain of 10-12 percent, but that is the maximum gain, he added.
Explaining the surge, he said the market surged on the back of benign global equity conditions and strong macros on the domestic front. But there are negative cues such as bad loan issue, stretched private sector balance sheets, and lack of earnings growth.
Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
CapitalStars Investment Adviser: SEBI Registration Number: INA000001647
Visit Here- http://www.capitalstars.com/
0 Comments