After a gap up opening the markets traded sideways for most of the trading session touching intraday high in the morning session and moving bit lower in the afternoon session before ending the day on a positive note. Among the Sectoral indices Metals & Oil and Gas gained while Capital goods and Power were among the losers. In the Sensex kitty Maruti Suzuki (3.22%), ONGC (3.01%) & Hindalco (2.92%) were amongst the gainers while BHEL (4.38%), TCS (2.23%) and Bharti Airtel(1.01%) were among the losers. The Sensex gained 131 points or 0.67% to close at 19,602 while Nifty gained 33 points or 0.56% to close at 5,885.
Total traded turnover stood at Rs 1,63,807 cr. In equities both FIIs & were net buyers of (Rs 307 cr) While DIIs were net sellers (Rs 270 cr). On the derivatives side, FIIs were net buyers in Index Futures (Rs 204 cr), Index Options (Rs 586 cr) and Stock Futures (Rs 84 cr) while they were net sellers in Stock Options (Rs 26 cr).
The US markets ended positive on strong earnings reported by companies like Apple Inc but the gains were limited due to mediocre results from General Electric & McDonaldʹs coupled with concerns on increase in jobless claims. The Dow Jones gained 52 points or 0.42% to close at 12,506 while NASDAQ gained 18 points or 0.63% to close at 2,820.
The Asian markets are trading marginally higher. Nikkei is trading higher by 0.29% while Hang Seng is shut on account of holiday.
On Thursday, the markets ended on a positive note after trading sideways throughout the day. The advance decline ratio was almost 1:1. The markets may open on a soft and may remain volatile ahead of F&O expiry and declaration of corporate earnings this week. Adopt a stock specific approach.
The trend deciding level for the day is 5885,If NIFTY trades above this level then we may witness a further rally up to 5910‐5940‐5965 levels. However, if NIFTY spot trades below 5885 levels then we may see some profit booking to initiate in market, it may correct up to 5860‐5834‐5805.
Stocks to focus for intraday long: Titan, SBIN
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