Monday, October 28, 2013

Market Summary for the day 28/10/2013

• The key domestic indices ended lower today as the Sensex closed in the red for the fifth day on
the trot as FMCG stocks declined amid disappointing Q2 results from companies such as ITC.
• Caution ahead of the RBI’s policy decision tomorrow, where the central bank is expected to
raise its key benchmark rate by 25 bps, the second straight hike, amid surging inflationary
pressures, also weighed on sentiment.
• The markets are expected to stay volatile ahead of the October futures and options expiry later
this week, while caution ahead of the two-day US Federal Reserve policy meet beginning
tomorrow, also weighed on markets.
• FMCG major ITC shed more than 3.5 per cent after the company’s Q2 sales growth lagged
market estimates. Net Sales of ITC increased 8.9 per cent (far lower than analysts'
expectations) to Rs 7,780 crore during September quarter from Rs 7,146 crore in the year ago
period, dented by slow volume growth in cigarette business and fall in agri volume.
• Asian stocks ended higher today amid speculation that global central banks may maintain
stimulus this week to support the world economy. The US Federal Reserve, which will begin its
two-day policy meet on Tuesday, is tipped to maintain its USD 85 billion monthly bond buying
program while the Bank of Japan will continue to buy bonds to achieve the 2 per cent inflation
target.
• BSE SENSEX closed at 20,570.28, down by 113.24 points and NSE Nifty closed at 6,101.1,
down by 43.8 points.
• On the Sectoral front, FMCG and Realty shed 2.56 per cent and 2.10 per cent, respectively.
• The Market breadth, indicating the overall health of the market, was weak.
• Top Nifty Gainers L&T HDFC ONGC WIPRO & Kotak Bank
• Top Nifty Losers JP Associates Bk of Baroda ITC PNB & DLF
Global Markets Updates:
• Pan-European stocks steadied near 5-year highs on Monday, propped up by robust corporate
earnings, but with some strategists taking profits from the recent rally.
• However, Dow and Nasdaq future started on a mixed note with Nasdaq Future trading higher by
about 6 points and Dow flat at about 4 points down at this evening .

Technical Parameters of NIFTY
• RSI at 57, MACD positive above signal line; India VIX was at 21~ which all Indicate that market may see
consolidate in short to medium term before taking any direction further.
• Today Nifty closed below 5DMA (6158) but above 20DMA (6028) 50DMA (5802) and 200DMA (5852) which all indicate that market may make consolidate further before taking any decision further.

SECTOR-WISE PERFORMANCE

Markets closed in negative terrain with most sectors closing in red. However, BSETECK
was the best performing sector while BSE REALTY was the worst performing sector

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