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Indian
Indices: Asian markets were trading in the red as profit booking overnight in
the US. While, other emerging markets also saw indices succumb to stronger US
Dollar and rising bond yields. The rally in the US may have reached the
proverbial peak with 21000 on the Dow Jones being a huge tipping point in the
near term. US Dollar strength will weigh on emerging markets as institutional
investors book profit against currency weakness in these markets.
Nifty also saw huge reversal as nervous nineties played out perfectly
with the mid-cap stocks leading the fall. Profit booking close to 9000 was on
the cards as local mutual funds sold to take advantage of the superb near
term rally in indices and stocks. For today expect initial profit booking to
continue, however, second half index buying by foreign investors will arrest
any further fall as foreign flows continue to be strong buyers.
The BSE Sensex is currently trading at 28792.65,
down by 47.14 points or 0.16% after trading in a range of 28736.10 and
28847.97. There were 16 stocks advancing against 14 stocks declining on the
index. The broader indices were trading mixed; the BSE Mid cap index was down
by 0.03%, while Small cap index was up by 0.13%. The CNX Nifty is currently
trading at 8882.40, down by 17.35 points or 0.19% after trading in a range of
8862.45 and 8898.50. There were 25 stocks advancing against 26 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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Hathway
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37.80
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5.15
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Infratel
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301.75
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4.09
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Escorts
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476.00
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3.84
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GSPL
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162.60
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3.80
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Group ATopLosers
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Apollohosp
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1248.00
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-5.16
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Amtekauto
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36.50
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-3.05
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Raymond
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589.00
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-3.05
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NCC
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78.95
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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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28700
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29060
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Nifty
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8855
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8960
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Technical view: Nifty will see 8830-8850 act as
support while 8930 will act as first resistance. Bank Nifty has been the
weaker of the 2 and sees support closer to 20450, which should hold while
20750 will act as resistance on the upside.
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Trading ideas :TVS Motors (Buy above Rs 427, for Target of Rs 440, SL at Rs 420.5): The stock is trading
in a constant higher top higher bottom cycle. The momentum indicator
RSI has formed positive reversal at 60, which indicates bullish bias to the
up move. It is also sustaining above the rising trend line support zone.
Derivative Snippets: In the last trading session, markets
witnessed a wild swing in the final hour of trade. Bank Nifty was among the
biggest loser as short selling of OTM March 02, 2017 weekly expiry call
options and long unwinding of future contracts weighed in.
Nifty managed to hold the 8900 mark as
8900 put strike added fresh long position with the rise in open interest to
the tune of ~1.82 lakh contracts. Substantial trading below 8900 may lead to
a further downfall up to the support zone of 8800.
FIIs were net buyers in cash market
segment to the tune of Rs ~123 crore. FII’s index future long/short
ratio at 5.4x vs 4.5x.
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Nifty Movers: The top
gainers on Nifty were BhartiInfratel up by 4.16%, Reliance Industries up by
2.32%, Hindalco up by 2.01%, Tata Power up by 1.79% and Grasim Industries up
by 1.76%. On the flip side, Bosch down by 2.15%, HDFC
down by 1.53%, ITC down by 1.53%, Asian Paints down by 1.38% and IndusInd
Bank down by 1.16% were the top losers.
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Top Sectoral& Stock Screening: The top
gaining sectoral indices on the BSE were Telecom up by 1.28%, Energy up by
1.09%, Realty up by 0.73%, Utilities up by 0.70% and Oil & Gas up by
0.54%, while FMCG down by 0.76%, IT down by 0.40%, Bankex down by 0.31%,
Capital Goods down by 0.22% and Auto down by 0.20% were the losing indices on
BSE.
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On the global front:On the global front, Asian shares were trading in red, as traders
become increasingly confident the Federal Reserve will hike interest rates
this month. Japan’s core consumer prices rose for the first time in over a
year in January due to a pickup in energy costs and private consumption,
offering some hope for the central bank's efforts in accelerating inflation
to its 2 percent target.
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Global Signals: Asian Paints
down by 1.38% and IndusInd Bank down by 1.16% were the top losers.The Asian
markets were trading in red; Hang Seng decreased 164.98 points or 0.7% to
23,563.09, Nikkei 225 decreased 130.53 points or 0.67% to 19,434.27, Taiwan
Weighted decreased 40.28 points or 0.42% to 9,651.52, KOSPI Index decreased
25.46 points or 1.21% to 2,077.19, Shanghai Composite decreased 13.87 points
or 0.43% to 3,216.15, Jakarta Composite decreased 11.87 points or 0.22% to
5,396.38 and FTSE Bursa Malaysia KLCI decreased 7.08 points or 0.41% to
1,708.59.
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