The markets opened on a soft note but managed to trade in tight range moving near the previous close till the announcement of monetary policy. The markets slipped into the red post the announcement of the policy and kept on making new intraday lows ending the day on a weak note. All the Sectoral indices ended in the red with Auto & Bankex losing more than 3% each. Among the Sensex stocks Jaiprakash Asso (8.05%), Tata Motors (5.30%) & Bajaj Auto (5.02%) were the major losers while BHEL (0.19%) was the lone marginal gainer. The Sensex lost 463 points or 2.44% to close at 18,535 while Nifty lost 136 points or 2.39 % to close at 5,565.
Total traded turnover stood at Rs 1,72,169 cr. In equities FIIs were net sellers of (Rs 1177 cr) while DIIs were net buyers (Rs 607 cr). On the derivatives side, FIIs were net sellers in Index Futures (Rs 1,638 cr), Stock Futures (Rs594 cr) and Stock Options (Rs 63 cr) while they were net buyers in Index Options (Rs 1,620 cr).
The US markets ended mixed amidst profit taking and diverse earnings reported by companies. The Dow Jones gained 0.15 points to close at 12,807 while NASDAQ lost 22 points or 0.8% to close at 2,815.
The Asian markets are trading mixed. Nikkei is shut for the day, while Hang Seng is trading lower by 1.21%.
The markets fell sharply yesterday after RBI hiked repo and reverse repo rates by 50 bps higher‐than‐expected. Market breadth remained extremely negative, with declines outpaced advances in the ratio of about 3:1. The markets may open on a soft note tracking mixed global cues. Adopt a cautious stock specific approach.
The trend deciding level for the day is 5610,If NIFTY trades above this level then we may witness a further rally up to 5645-5678-5705 levels. However, if NIFTY spot trades below 5610 levels then we may see some profit booking to initiate in market, it may correct up to 5520- 5488-5450.
No comments:
Post a Comment