The markets opened on a soft note and moved lower in the morning session post which they traded sideways till the late morning session. The markets further dropped in the noon session and again traded in a narrow range ending the day on weak note. Most of the Sectoral indices ended in the red with IT & Realty being the major losers while Auto & Capital Goods saw minimal gains. Among the Sensex stocks Hero Honda (5.52%), Bharti Airtel (1.35%) were amongst the gainers while Infosys (9.59%) and Wipro (5.04%) were the major losers. The Sensex lost 310 points or 1.57% to close at 19,397 while Nifty lost 87 points or 1.47% to close at 5,825.
Total traded turnover stood at Rs 1,46,496 cr. In equities both FIIs & DIIs were net sellers to the extent of (Rs 253 cr) and (Rs 361 cr) respectively. On the derivatives side, FIIs were net sellers in Index Futures (Rs 970 cr), Stock Futures (Rs 574 cr) while they were net buyers in Index Options (Rs 688 cr) and Stock Options (Rs 14 cr).
The US markets ended positive as stocks gained on positive economic data as investors chose to ignore some disappointing quarterly results. The Dow Jones gained 57 points or 0.46% to close at 12,342 while NASDAQ gained 4 points or 0.16% to close at 2,765.
The Asian markets are trading mixed. Nikkei is trading lower by 0.19% while Hang Seng is currently trading higher by 0.40%.
On Friday the markets closed on a weak note following lower than expected results from Infosys coupled with concern on high crude prices. The market may open on a soft note amidst mixed global cues. Adopt a cautious stock specific approach.
The trend deciding level for the day is 5845, If NIFTY trades above this level then we may witness a further rally up to 5870-5905-5930 levels. However, if NIFTY spot trades below 5845 levels then we may see some profit booking to initiate in market, it may correct up to 5800-5774-5750.
Stock to focus for intraday Long: JP Associates; TCS; Havells