Equities failed to build on to early gains and ended with marginal losses Monday. Gains in IT, capital goods and auto stocks were offset by losses in FMCG, banks and metals
Market opened on a flat note and gained momentum following reports that Abu Dhabi would be bailing out Dubai with an aid of $10 billion. However, the upmove couldn’t last long and benchmarks showed signs of weakness after touching psychological level.
Market opened on a flat note and gained momentum following reports that Abu Dhabi would be bailing out Dubai with an aid of $10 billion. However, the upmove couldn’t last long and benchmarks showed signs of weakness after touching psychological level.
Positive European markets provided little support as the indices drifted into negative terrain. We will be in negative terrain for the next one month or so. A revival is expected only after that. At present the Nifty faces resistance at 5181-5230 and support is at 4800-4500. Aggressive traders can short the market with stoploss of 5241 and others can wait to buy on dips. Auto and banks look weak while cement and IT may show some more upside
Bombay Stock Exchange’s Sensex ended at 17,097.55, down 21.48 points or 0.13 per cent. The 30-share index hit a high of 17,275.19 and low of 17,048.17 intraday. National Stock Exchange’s Nifty closed at 5105.70, down 11.60 points or 0.23 per cent.
The broader index hit a high of 5156.70 and low of 5090.15 during trade.
The BSE Midcap Index was down 0.67 per cent and BSE Smallcap Index moved 0.45 per cent lower. Amongst the sectoral indices, BSE FMCG fell 1.43 per cent, BSE Bankex slipped 1.13 per cent lower and BSE Metal Index was down 0.83 per cent. BSE IT Index gained 1.16 per cent and BSE Capital goods Index moved 0.95 per cent higher. Shares of banking sector came under pressure after the inflation for the month ended November stood higher at 4.78 per cent against 1.34 per cent previous month. There are worries that the central bank may soon move in to raise interest rates. “With November WPI higher at 4.78%, a robust industrial production (IIP) number at 10.3% and September FY10 quarter GDP at 7.9%, RBI does not have many options left but to bring forward a rate hike and cut stimulus spending
ACC (5.30%), Ranbaxy Laboratories (4.37%), Grasim (2.63%), Siemens India (2.46%) and Wipro (2.16%) were amongst the top Nifty gainers. Bharti Airtel (-3.68%), Jindal Steel (-2.93%), Hindustan Unilever (-2.14%), IDEA (-2.09%) and ICICI Bank (-1.79%) were amongs the top losers.
ACC (5.30%), Ranbaxy Laboratories (4.37%), Grasim (2.63%), Siemens India (2.46%) and Wipro (2.16%) were amongst the top Nifty gainers. Bharti Airtel (-3.68%), Jindal Steel (-2.93%), Hindustan Unilever (-2.14%), IDEA (-2.09%) and ICICI Bank (-1.79%) were amongs the top losers.
Market breadth was negative on the BSE with 1675 declines and 1166 advances. European markets were in the positive terrain as fears of Dubai crisis eased. The US markets are also likely to open in the green. At 5:15 pm, Dow Jones stock futures was up 0.41 per cent, S&P 500 moved 0.47 per cent higher and Nasdaq 100 gained 0.52 per cent.
Regards,
RAKESH MAKIN
Chugh securities Pvt Ltd
+91 9915684997, 9041667797
PANCHKULA (Haryana).
Email:makin_97@yahoo.com
Email:rakeshmakin@yahoo.com
Blog :http://wwwmakin97-nse.blogspot.com/
Home page: http://in.groups.yahoo.com/group/makin97NSEtips
Group mail id: makin97NSEtips@yahoogroups.co.in
No comments:
Post a Comment