The markets opened on a flat note and traded in a tight range throughout rage in the morning session. Moving sideways in the afternoon session the markets traded in the red and slipped further in the last hour to end on a weak note. Among the Sectoral indices Capital Goods, Realty and Bankex lost the most while FMCG gained. Among the Sensex stocks HUL (2.24%)& Maruti (1.27%) were amongst the gainers while L&T (3.87%), Jindal Steel (3.57%) and ONGC(2.79%) were among the losers. The Sensex lost 157 points or 0.81% to close at 19,136 while Nifty lost 36 points or 0.62% to close at 5,750.
Total traded turnover stood at Rs 1,17,476 cr. In equities both FIIs & DIIs were net sellers of (Rs 690 cr) & DIIs (Rs 61 cr) respectively. On the derivatives side, FIIs were net sellers in Index Futures (Rs 1241 cr), Stock Futures (Rs 353 cr) and Stock Options (Rs 41 cr) while they were net buyers in Index Options (Rs 2332 cr).
The US markets ended positive led by gains in industrial stocks and strong results declared by Caterpillar offsetting weak economic data. The Dow Jones gained 47 points or 0.37% to close at 12,763 while NASDAQ closed flat at 2,874.
While most of the Asian markets are shut on account of holiday, Nikkei is trading higher by 0.97%.
The markets moved sideways throughout and closed on a weak note. The declines far outnumbered the advances. The market may open on a flat to positive note. The expectations on RBIs monetary policy review tomorrow will affect the market sentiment.
The trend deciding level for the day is 5800, If NIFTY trades above this level then we may witness a further rally up to 5840-5875-5905 levels. However, if NIFTY spot trades below 5800 levels then we may see some profit booking to initiate in market, it may correct up to 5715-5680-5650.
Stocks to focus for intraday long: Glaxo, Educomp
Stocks to focus for positional long: Glaxo (Buy 2257-2240 TGT 2310 SL 2212) – 1 Week
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