8th April, 2011

The markets opened on a flat note and slipped lower trading in the negative throughout the morning session. The markets gradually recovered by afternoon session and traded in the positive zone for short while but slipped lower in the late session ending the day on a flat lower. Among the Sectoral indices Realty was the major gainers while IT and Oil & Gas were saw some selling. Among the Sensex stocks Reliance HDFC (2.31%) and Hindalco (1.79%) were the gainers while NTPC (2.61%), ONGC (2.10%) and TCS (2.00%) were amongst the losers. The Sensex lost 21 points or 0.11% to close at 19,591 while Nifty lost 6 points or 0.10% to close at 5,886.

Total traded turnover stood at Rs 90,247 cr. In equities FIIs were net buyers (Rs 221 cr) while DIIs were net sellers (Rs 212 cr). On the derivatives side, FIIs were net sellers in Index Futures (Rs 269 cr) Stock Futures (Rs 359 cr) and Stock Options (Rs 19 cr) while they were net buyers in Index Options (Rs 341 cr).

The US markets ended marginally lower on concerns of higher crude prices and fresh earthquake in Japan. The Dow Jones lost 17 points or 0.14% to close at 12,410 while NASDAQ lost 4 points or 0.13% to close at 2,796.

The Asian markets are trading higher. Nikkei is trading higher by 0.91% while Hang Seng is currently trading higher by 0.44%.

The markets ended on a flat note with sustained buying seen in mid caps and small caps. The markets may open on a flat to positive note amidst mixed global cues. Maintain 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 5910‐5940‐5970 levels. However, if NIFTY spot trades below 5900 levels then we may see some profit booking to initiate in market, it may correct up to 5865‐5835‐5800.