Market bounced back on US$ weakness

18th May, 2012 Closing Market Updates  16:03


Market opened with a gap down on Asian market meltdown. But US$ weakness against Indian Rupee and SBI's better results pulled the market to close into positive. Nifty bounced back nearly 120 points from the bottom of 4788.95 and ended at 4906.75 with a gain of 36.55 points after making day high of 4908.5. Sensex gained 125.33 points and ended positively at 16195.81.
Among BSE Sectoral Indices, Bankex gained the most by 2.19% and Auto index was the top loser by 1.76%
SBI declred its quarterly net profit figures at 4050 crores which was more than street expectations, similarly gross NPAs also reduced to 4.44% from 4.61%.
In Nifty50 stocks, SBI was the top gainer by 5.82%, ended at 1955.9 and Tatamotors was the top loser by 3.87% to end at 260.65. FCH was the turnover topper by the quantity traded and SBI was by traded value.
Advance/Decline ratio was negative as 605 stocks gained and 821 declined on NSE today.


Nifty Outlook :
As mentioned into previous blog, Nifty has not broken the weekly support of 4770 and once again it shold be considered a good immediate support on weekly closing basis. Now immediate resistance for Nifty would be 4950 and 5050. Movement of Nifty will be depend on US$/INR relation for the week ahead and global market scenario.


Major Global Indices :


Nikkei : -249.08
Hang Seng : -265.28
FTSE : -54.83
CAC : -7.86
DAX : -20.55
Dow Futures : +37.00
Nasdaq Futures : +8.75

USD/INR at all time high of 54.46, Nifty made months' low 4837.15

16th May, 2012 Closing Market Updates 16:24

Indian market witnessed a sell-off alongwith the global markets. Market opened with a gap down and made a low of 4837.15 for the first time after 16th Jan.2012. Nifty took a weekly support and bounced upto 4877.8 and closed at 4875.30 by shedding 67.5 points. Sensex lost 298.16 points and closed just above 16k mark at 16030.09.


Nifty Outlook : Weekly closing of Spot Nifty should not be below 4670 level to avoid further weakness which may pull Nifty to 4520-4440 levels.


Rupee has made a new low against the US$ of 54.46 today and reflected into pessimism.
All BSE Sectoral Indices closed into negative.Metal Index was the top loser by 2.68% followed by Auto(-2.59%).
In Nifty50 stocks, Tatamotors was the top loser by declining 7.7% and ended at 268 whereas BPCL was the top gainer by 2.53% and ended at 747.20.
Unitech was the most active stock by the traded quantity and Tatamotors was the turnover topper by the  traded value on NSE today.
Advance/Decline ratio was negative in the ratio of 2.88 : 1 as 1058 stocks declined and just 368 stocks gained today on NSE.


Major Global Indices : 


Nikkei : -99.57
Hang Seng : -634.48
FTSE : -51.13
CAC : +6.84
DAX : -50.84
Dow Futures : -22.00
Nasdaq Futures : -3.75

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Panic continued on D-lal street.Nifty broke yesterday's low.

9th May 2012 Closing Market Updates 15:45

Selling continued in Indian equity markets after falling more than 2% yesterday. Weak global indices made our opening weak. Nifty made a day high of 5016.25 but weak INR against US$ pushed Nifty to trade in negative territory for the remaining session. At the time of making low of 4956.45, Nifty May Future premium eroded and traded into discount. Nifty May future made a low of 4954.95. Spot Nifty ended at 4974.75 by losing 25.20 points whereas Sensex lost 63.69 points and ended at 16482.49
Nifty immediate support at 4950 and resistance at 5027.


Among BSE Sectoral Indices, Realty index was the top loser by shedding 2.96% and FMCG index was the top gainer by 2.69%.
In Nifty50 stocks, ITC gained the most by 5.69%  and ended at 239.8. JPAssociat was the top loser by 5.3% and ended at 60.7.
LITL was the turnover topper by the traded quantity and SBIN by the traded value on NSE.
Advance/Decline ratio was negative in the ratio of 2.46:1 as 415 stocks gained and 1022 stocks declined today on NSE.


Major Global Indices :


Nikkei : -136.59
Hang Seng : -154.11
FTSE : -21.74
CAC : -14.18
DAX : +5.86
Dow Futures : -60.00
Nasdaq Futures : -15.75

Panic on द लाल street.Nifty ended below 5k mark, Sensex at 16500

Blood bath on the D Lal street, Nifty fell to 4983.60 broke yesterday's low and ended at 4986.20 losing 127.95 points. Sensex made investors senseless after shedding 404.83 points today and closed at 16507.88.
Now next support for spot Nifty is 4880 and 4755. Momentum traders should go long if spot Nifty crosses 5025 for the immediate target of 5050 and 5072. Nifty has tested level of 19 Jan.2012.


All BSE Sectoral Indices closed into negative. Capital Goods' index was the top loser by 3.44% fall followed by IT(3.09%).
In Nifty50 stocks, Hindalco was the top gainer by 1.51% and ended at 117.4 whereas JPAssociat was the top loser by 8.77% and ended at 63.45.
LITL was the turnover topper by the quantity traded and SBIN by the traded value.
Advance/Decline ratio was negative in the ratio of 2.24:1 as 986 stocks declined and 441 stocks gained today on NSE.


Major Global Indices :


Nikkei : +62.51
Hang Seng : -51.9
FTSE : -12.97
CAC : -55.58
DAX : -51.54
Dow Futures : -70.00
Nasdaq Futures : -18.00

Pranab softens Budget blow, defers GAAR to 2013-14

7th May 2012,Closing Market Updates :

Indian equity markets fell in the early session today on global turmoil but after the clarification by Hon.Fin.Min. Pranab Mukherjee that GAAR will be applicable after Apr.2013, market ignored European market losses and recovered to end into positive.
Nifty recovered nearly 136 points from its bottom to end at 5123.4 by gaining 36.55 from last closing. Sensex dipped to 16513.7 and ended at 16933.76 with 102.68 points on positive side.
As avoided short into morning blog, Nifty(May Fut) not fell below 5000 mark and gave a smart recovery upto 5139.5. Spot Nifty may touch 5170-5180 in coming sessions on pullback rally.
Among BSE sectoral indices, Capital Goods' index was the top gainer by 3.62% while FMCG was the top loser by 0.59%.
In Nifty50 stocks, BHEL was the top gainer by 5.75% and ended at 226.35.Cairn was the top loser by 2.39%   ended up at 325.
Unitech was the turnover topper by the quantity traded and SBIN by the traded value on NSE today.
Advance/Decline ratio was positive as 732 stocks gained and 671 stocks declined today on NSE.


Major World Indices : 


Hang Seng : -549.35
Nikkei : -261.11
FTSE : -111.49
CAC : -8.89
DAX : -53.66
Dow Futures : -60.00
Nasdaq Futures : -14.00

Nifty below 5000, Sensex near 15500

7th May 2012 Morning Market Updates :


Indian markets opened with gap down as Asian jumbos opened more than 2% on lower side.Nifty tested 5000 level and may test 4970, still we strongly recommend not to short at this level, but you can hold previous short positions in Nifty with a trailing (EOD) stop of 5050. 



Asian shares tumbled Monday as investors reacted to data that raised fresh fears about the health of the U.S. economy and European elections that added to jitters about the euro zone’s future.
    “Worries about a double-dip recession in the U.S. ... were compounded by election results in Europe. The [poll] results weren’t surprising, but they just add to the uncertainty,” said Shane Oliver, head of investment strategy at AMP Capital.
    In Tokyo, which had been closed since Wednesday, Japan’s Nikkei  plunged 2.6%.Hong Kong’s Hang Sang Index fell 2.5%, although the Shanghai Composite Index lost a more modest 0.3%.

Australia’s S&P/ASX 200 index dropped 1.9%, while South Korea’s Kospi fell 1.7%.

    The losses came after Wall Street fell sharply Friday, reacting to data showing just 115,000 jobs were added to the U.S. economy last month, well below the 163,000 job additions that had been penciled in by economists.        

    Weekend elections in France and Greece added to pressure on stocks and commodities Monday.

    In France, polls indicated that President Nicolas Sarkozy had lost to Socialist challenger Francois Hollande, who had indicated he wants to renegotiate Europe’s fiscal compact and its tough budget rules.

    In Greece, exit polls showed that the center-right New Democracy Party and the center-left Pasok party — both supporters of the country’s most recent bailout — took a drubbing.

Sensex breached 17k mark & Nifty closed below 5100

4th May 2012 Closing Market Updates 15:53

As described in previous blogs, Nifty had started southward journey after failing to cross high of 14th March,2012 and which was 5463.9. The uptrend will start only after Nifty will cross 5270-5280 level(these levels are as on today's data of Nifty and it may change after next sessions).
Next supports for Nifty will be at 5050, 4940 and 4860. The spine support of Nifty will be at 4510 and below that Nifty may fall upto 3900 levels also in extreme case.
We recommend not to go long unless and untill Nifty crosses and sustains 5280 level.
Rising US$ against INR will impact adversely on the market.USD/INR is trading around day high(54.11) and made a day high of 54.1750 on MCX.
Traders eyeing on GAAR meeting which will be held in next week.


Today, market opened weak and later affected by loosing global indices' steam. Nifty ended at 5082.4 with a fall of 106 points.Sensex breached 17k mark and ended at 16827.5 by shedding 323.69 points. 
All BSE Sectoral Indices except HC index were closed into negative. HC was up by 0.28%.Capital Goods Index was the top loser by 3.79% followed by Bankex(-3.17%), PSU, Power, Metal, Realty and Consumer durables which dropped more than 2%.
In Nifty50 stocks, Cipla was the top gainer by 2.93% and ended at 326.95 whereas Bankbaroda was the top loser by 6.23% and ended at 685.9. LITL was the most traded stock by the traded quantity and SBIN was the turnover topper by the traded value on NSE. Advance/Decline ratio was negative with a ratio of 4.5:1 as 1184 stocks declined and 258 stocks gained today on NSE.


Major Global Indices : 


Hang Seng : -163.53
Nikkei : +29.30
FTSE : -51.43
CAC : -30.19
DAX : -52.70
Dow Futures : -20.00
Nasdaq Futures : -0.25