Key benchmark indices edged higher in choppy trade as index heavyweights viz. Infosys, Reliance Industries and HDFC rose. The barometer index, the S&P BSE Sensex, attained record closing high. The 50-unit CNX Nifty attained its highest closing level in more than six weeks. HDFC eked out small gains after reporting a decent growth in bottom line in Q3 December 2013. Infosys extended its recent gains triggered by the company raising its revenue growth guidance for the year ending 31 March 2014 at the time of announcement of Q3 December 2013 earnings on 10 January 2014. The Sensex garnered 86.55 points or 0.41%, off 40.24 points from the day's high and up 169.24 points from the day's low. The market breadth, indicating the overall health of the market, was positive.
Indian stocks edged higher for the third day in a row today, 22 January 2014. The Sensex has garnered 274.05 points or 1.3% in three trading sessions from a recent low of 21,063.62 on 17 January 2014. The Sensex has risen 166.99 points or 0.78% in this month so far (till 22 January 2014). From a 52-week low of 17,448.71 on 28 August 2013, the Sensex has risen 3,888.96 points or 22.28%
Our Recommendation :
We strongly recommend investors to junk the so called High Beta stocks and wait for declines to enter into good quality scrips. We will continue to recommend high quality stocks mostly from mid cap space which will ensure that investors will protect their networth and continue to create wealth by buying sun rise shares.