Paring half of the previous sessions’ gains, Indian equity markets witnessed an abysmal session of trade, as
investors relentlessly booked profit at higher level after previous session’s sharp gains following Iran’s historic
nuclear deal.
Meanwhile, recovery in Brent crude prices, with investors judging the historic deal between Iran and world powers
would not result in an immediate increase in shipments from the OPEC member, also dented sentiment leading to
knock of over a percent for Indian equity markets. Besides, reluctance of traders to take position ahead of F&O
expiry amidst negative global set-up also spooked Indian equity markets.
Thus, gradually losing ground for the entire trading session, benchmarks settled at the lowest point of the day,
near the psychological 20,500 (Sensex) and 6,050 (Nifty) levels respectively. Additionally, broader indices too
witnessing profit-booking, went home with loss of over quarter of a percent.
In the ferocious selling pressure, while most of the sectoral indices succumbed to selling pressure, stocks from
Auto, Capital Goods and Power counters, outperformed the markets and ended with modest gains. On the other
hand, stocks from Banking, Public Sector Undertaking (PSU) and Oil & Gas counters were the top laggards. Stocks
of Public Oil Marketing Companies, viz, BPCL, HPCL and IOC witnessed heavy drubbing as oil prices regained some
semblance of stability after the previous session's slide, as traders questioned how quickly the Iranian nuclear
accord could turn into higher supplies.
Meanwhile, sugar stocks hogged limelight for yet another session ahead of UP chief Minister’s meeting with the
mills owners later in the evening today. Separately, an all-party delegation from Maharashtra, along with the
representatives of agitating farmer’s organizations, is scheduled to meet Prime Minister Manmohan Singh about
various demands of the sugar industry.
The market breadth on the BSE ended in red; advances and declining stocks were in a ratio of 1059: 1455, while
140 scrips remained unchanged.
Major Gainers on Nifty: BHEL, LUPIN, HUL, TATA MOTORS, HERO MOTO
Major Losers on Nifty: BPCL, BOB, NMDC, ICICI BANK, BHARTI AIRTEL
Global Markets Updates:
European shares lacked the momentum to extend a rally to multi-year highs on Tuesday, a mixed outlook for corporate earnings underlined by downbeat signals from Remy Cointreau and Hugo Boss
Both DOW and NASDAQ futures were trading negative at this evening with both indices were in red.
RSI was at 48, MACD negative below signal line; India VIX was at 22~ which all Indicate that market see some
more volatile session ahead of November FNO expiry.
Today, Nifty closed above 5DMA (6058), 50DMA (6054), 200DMA (5865) but below 20DMA (6151) which all
indicate that market will be volatile ahead of FNO expiry.
investors relentlessly booked profit at higher level after previous session’s sharp gains following Iran’s historic
nuclear deal.
Meanwhile, recovery in Brent crude prices, with investors judging the historic deal between Iran and world powers
would not result in an immediate increase in shipments from the OPEC member, also dented sentiment leading to
knock of over a percent for Indian equity markets. Besides, reluctance of traders to take position ahead of F&O
expiry amidst negative global set-up also spooked Indian equity markets.
Thus, gradually losing ground for the entire trading session, benchmarks settled at the lowest point of the day,
near the psychological 20,500 (Sensex) and 6,050 (Nifty) levels respectively. Additionally, broader indices too
witnessing profit-booking, went home with loss of over quarter of a percent.
In the ferocious selling pressure, while most of the sectoral indices succumbed to selling pressure, stocks from
Auto, Capital Goods and Power counters, outperformed the markets and ended with modest gains. On the other
hand, stocks from Banking, Public Sector Undertaking (PSU) and Oil & Gas counters were the top laggards. Stocks
of Public Oil Marketing Companies, viz, BPCL, HPCL and IOC witnessed heavy drubbing as oil prices regained some
semblance of stability after the previous session's slide, as traders questioned how quickly the Iranian nuclear
accord could turn into higher supplies.
Meanwhile, sugar stocks hogged limelight for yet another session ahead of UP chief Minister’s meeting with the
mills owners later in the evening today. Separately, an all-party delegation from Maharashtra, along with the
representatives of agitating farmer’s organizations, is scheduled to meet Prime Minister Manmohan Singh about
various demands of the sugar industry.
The market breadth on the BSE ended in red; advances and declining stocks were in a ratio of 1059: 1455, while
140 scrips remained unchanged.
Major Gainers on Nifty: BHEL, LUPIN, HUL, TATA MOTORS, HERO MOTO
Major Losers on Nifty: BPCL, BOB, NMDC, ICICI BANK, BHARTI AIRTEL
Global Markets Updates:
European shares lacked the momentum to extend a rally to multi-year highs on Tuesday, a mixed outlook for corporate earnings underlined by downbeat signals from Remy Cointreau and Hugo Boss
Both DOW and NASDAQ futures were trading negative at this evening with both indices were in red.
RSI was at 48, MACD negative below signal line; India VIX was at 22~ which all Indicate that market see some
more volatile session ahead of November FNO expiry.
Today, Nifty closed above 5DMA (6058), 50DMA (6054), 200DMA (5865) but below 20DMA (6151) which all
indicate that market will be volatile ahead of FNO expiry.
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