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Indian
Indices: US markets hit fresh new all time highs as the Dow Jones nearly hit
21300 on the upside. The weakness in UK Pound saw strength in US Dollar,
which further prompted buying in the S&P while the Nasdaq fell heavily
after rising nonstop for the last 9 days. Asian indices saw profit taking on opening
bell with the Japanese 'Nikkei" down over 150 points as North Korean
rhetoric saw weak sentiment prevail.
Nifty saw last hour buying led by Metals and select Auto stocks drive
the index higher even as the broader market saw corrections. For today expect
range bound trade on the Nifty while stock/sector outperformance continuing.
Expect defensive buying in Pharma and select mid-caps to be the theme today
while selling in PSU banks and Financials may be witnessed in the light of
further farm loan waivers being announced by states.
The BSE
Sensex is currently trading at 31132.97, down by 129.09 points or 0.41% after
trading in a range of 31070.65 and 31225.43. There were 11 stocks advancing
against 19 stocks declining on the index.
The broader
indices were trading in red; the BSE Mid cap index was down by 0.14%, while Small cap index was down by 0.09%.
The CNX Nifty is currently trading at 9625.30, down
by 42.95 points or 0.44% after trading in a range of 9606.40 and 9647.05.
There were 19 stocks advancing against 32 stocks declining on the index.
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MARKET
INDICATORS
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Group ATopGainers
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Company
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Price (Rs)
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% chg
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Mothersumi
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478.45
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4.14
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GMRInfra
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17.65
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4.13
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Ibrealest
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183.80
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4.11
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Gruh
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443.45
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3.91
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Group ATopLosers
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Videoind
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27.15
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-4.90
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Bharatfin
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709.00
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-3.06
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Tatacomm
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744.55
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-2.86
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IndianB
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298.75
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-2.62
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INDEX
PERFORMANCE
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Indices
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Support
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Resistanes
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Sensex
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31195
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31350
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Nifty
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9636
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9675
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Technical view: Nifty sees resistance closer to 9700 while 9580 will
act as strong support, any breach either side could see Nifty chart way
forward. Bank Nifty also sees strong resistance around 23750 while 23500 act
as strong support.
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Eros International (Buy Above 233.5 with Stop Loss
at 229.25 for Target of 242): After being in the declining mode for over
three weeks, the stock has broken out from a declining trend line. The strong
bounce is seen after Eros found support at its 200-DMA. The up-thrust in
price is seen on the back of smart uptick in volumes. In addition, other
oscillators also indicate that the current momentum may extend further.
Derivative Snippets :
Oil and Natural
Gas Corp (ONGC)is keen to acquire HPCL in a Rs422.54bn deal after finding
Bharat
Petroleum Corp Ltd (BPCL) too expensive to buy.
In the last trading session, markets
ended on a positive note as the banking stocks continued to shine. Bank Nifty
23500CE witnessed marginal short selling as the open interest increased by
~68k shares, making 23500 level as an important support for Bank Nifty.
FIIs were net sellers in cash market
segment to the tune of Rs 101 Cr.
FIIs index future long short ratio at
4.3 vs 5.6x with a significant addition of short positions to the tune of
~14k contracts, indicating of a minor correction.
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Nifty Movers: The top gainers on Nifty were Sun Pharma up by
1.35%, Mahindra & Mahindra up by 1.21%, GAIL India up by 1.15%, Vedanta
up by 0.76% and Tata Steel up by 0.70%. On the flip side, Wipro down by
2.83%, Bank of Baroda down by 2.13%, Larsen & Toubro down by 1.41%, Adani
Ports & Special Economic Zone down by 1.24% and Tata Motors - DVR down by
1.19% were the top losers.
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Top Sectoral& Stock Screening:The top gaining sectoral indices on the BSE were Realty up by 0.90%,
Metal up by 0.48%, Healthcare up by 0.39%, Telecom up by 0.19% and Consumer
Disc up by 0.15%, while IT down by 0.84%, Capital Goods down by 0.78%, TECK
down by 0.66%, Industrials down by 0.58% and Bankex down by 0.52% were the
losing indices on BSE.
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On the global front: On the global front, Asian shares were trading mostly
in red, as central bank meetings ahead and uncertainty over the chances for a
coalition government in Britain turned investors cautious. In a report,
Economic and Social Research Institute said that Japan’s Core Machinery
Orders fell to -3.1%, from 1.4% in the preceding month.
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Global Signals:The Asian markets
were trading mostly in red; Hang Seng decreased 319.7 points or 1.23% to
25,710.59, Nikkei 225 decreased 111.75 points or 0.56% to 19,901.51, Taiwan
Weighted decreased 72.22 points or 0.71% to 10,127.43, KOSPI Index decreased
25.07 points or 1.05% to 2,356.62 and Shanghai Composite decreased 14.77
points or 0.47% to 3,143.63.On the other hand, Jakarta Composite increased
32.09 points or 0.57% to 5,707.61.Kuala Lumpur Stock Exchange is closed on account
of National holiday.
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