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$/INR relation for the week ahead and global market scenario.
Major Global Indices :
Nikkei : -249.08
Hang Seng : -265.28
FTSE : -54.83
CAC : -7.86
DAX : -20.55
Dow Futures : +37.00
Nasdaq Futures : +8.75
Market opened with a gap down on Asian market meltdown. But US$ 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
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