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Indian
Indices: Asian indices opened flat to mildly positive after seeing a huge
selloff on Thursday. The undertone remains weak as weekend blues will see
caution prevail as emerging markets could be under pressure due to Brazilian
crisis. The selloff in Brazilian bonds and equities could see collateral
damage spill over to other emerging markets as index re-balancing takes place
by large institutional investors.
Nifty finally succumbed to global cues and closed down almost 100
points as selloff in Banks, Metals and Industrials gathered momentum. The
Rupee which has been an outperformer in emerging markets also fell sharply to
close @ 64.88 almost down 70 paise. For today expect mild bouts of pullback
with mid caps witnessing selling on rallies as investors book profits.
The BSE
Sensex is currently trading at 30634.70, up by 199.91 points or 0.66% after
trading in a range of 30539.65 and 30712.35. There were 19 stocks advancing
against 11 stocks declining on the index.
The broader
indices were trading in green; the BSE Mid cap index was up by 0.75%, while
Small cap index was up by 1.02%.
The CNX Nifty is currently trading at 9483.35, up by
53.90 points or 0.57% after trading in a range of 9465.15 and 9505.75. There
were 32 stocks advancing against 19 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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GMDCLTD
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135.30
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6.54
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CESC
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867.10
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4.50
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ITC
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289.50
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4.12
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Colpal
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1014.75
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3.61
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Group ATopLosers
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UPL
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766.70
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-6.09
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Suntv
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820.90
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-5.92
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Unitdspr
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1966.95
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-3.68
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OFSS
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3675.75
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-2.53
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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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30430
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30660
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Nifty
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9475
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9535
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Colpal (BUY Above 981 with Stop Loss at 965 for Target of 1020): The
stock has been witnessing selling pressure in the past four weeks. However,
Colpal has reached its crucial support of 100-DMA and is showing signs of a
reversal. Even momentum oscillators are making an attempt to reverse from the
oversold zone indicating a meaningful bounce from here.
Derivative Snippets
In the last trading session, markets
tumbled as around 90% of stocks in Nifty50 index closed in red. Nifty and
Bank Nifty OTM call option strikes added fresh short positions while put
option strikes added fresh long position with rise in implied volatility,
indicating further pain for market going forward.
FIIs were net sellers in cash market
segment to the tune of Rs 361 Cr.
FIIs index future long short ratio at
1.9x. Long positions to the tune of ~26k contracts were created in Index put
options.
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Nifty Movers: The top gainers on Nifty were ITC up by 5.15%, Bank
of Baroda up by 2.72%, Yes Bank up by 2.57%, Grasim Industries up by 2.32%
and Hindustan Unilever up by 2.10%. On the flip side, Asian Paints down by
1.28%, TCS down by 1.20%, Wipro down by 1.18%, Eicher Motors down by 1.10%
and Infosys down by 1.05% were the top losers.
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Top Sectoral& Stock Screening: The gaining sectoral indices on the BSE were FMCG up by 3.44%, Realty
up by 1.88%, Power up by 1.55%, Telecom up by 1.25% and Metal up by 1.21%,
while IT down by 0.77%, TECK down by 0.43% and Consumer Durables down by
0.06% were the only losing indices on BSE.
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On the global front: On the global front, Asian shares were trading
mostly in green, amid political turmoil in Brazil. Indonesia’s central bank
governor said its policy stance remained neutral and that it was monitoring global
risks ranging from the big chance of a rate hike in the United States in June
to tension in the Korean peninsula. At a policy meeting, Bank Indonesia kept
its benchmark interest rate unchanged at 4.75 percent, saying its decision
was consistent with its efforts to maintain stability at a time of recovery
for Southeast Asia’s largest economy.
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Global Signals:The Asian markets
were trading mostly in green; FTSE Bursa Malaysia KLCI increased 3.23 points
or 0.18% to 1,770.40, KOSPI Index increased 4.19 points or 0.18% to 2,291.01,
Jakarta Composite increased 22.12 points or 0.39% to 5,667.57, Nikkei 225
increased 28.78 points or 0.15% to 19,582.64 and Hang Seng increased 82.54
points or 0.33% to 25,219.06.
On the other hand, Taiwan Weighted decreased 16.26
points or 0.16% to 9,953.19 and Shanghai Composite decreased 1.29 points or
0.04% to 3,088.85.
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