Key benchmark indices edged lower as Asian and European stocks dropped as signs the US economy is strengthening fueled speculation that the Federal Reserve will soon start tapering monetary stimulus to the US economy. Sensex snapped a three-day winning streak as investors booked profits at existing levels. Caution ahead of the state elections in Delhi tomorrow and the start of the winter session of Parliament on Thursday also weighed on sentiment. On the economic front, Finance Minister P Chidambaram expressed confidence that the economy would expand by 5
per cent this fiscal and the fiscal and current account deficits would remain within limits. Asian stocks ended on a mixed note even as fears heightened that the US Federal Reserve may pare QE in the coming months.
Frontline stocks like Aurobindo Pharma, Crompton, Eicher Motors, JSW Steel, M&M Financial and Pidilite Inds made 52 week high during intraday trades today despite lackluster market today.
Bank stocks dropped while Realty stocks edged higher. GAIL (India) rose as Prime Minister has dedicated to the nation GAIL (India)'s 1,000 km-long natural gas pipeline from Dabhol in Maharashtra to Bangaluru in Karnataka The market breadth, indicating the overall health of the market, was positive with advance/decline at 1255/1233 at the close.
Top Nifty Gainers were Gail India, BHEL, Jindal steel & power, NMDC & DLF
Top Nifty Losers were Indusind Bank, Kotak Bank, L&T, Sesa Sterlite and Dr Reddys lab
Global Markets Updates:
European stocks edged down to one-week lows, led by miners, after strong U.S. data heightened
concern the Federal Reserve will scale back stimulus sooner rather than later. Both NASDAQ and Dow futures were trading negative at this evening down by about 4 points each.
Technical View
RSI was at 57, MACD positive above signal line; India VIX was at 25~ which all Indicate that MACD positive is a good sign but VIX at higher levels indicating that market may witness some profit booking at higher levels. Today, nifty closed above all its moving averages 5 DMA (6148), 20 DMA (6118), 50 DMA (6077) & 200 DMA (5870) indicate that market is in the uptrend but investors need to be cautious at higher levels for fresh entry.
MARKETS CLOSED ON A NEGATIVE NOTE WITH A MIXED BAG AT THE CLOSE WITH BSE REALTY BEING A MAJOR GAINER WHILE FMCG WAS THE WORST PERFORMING SECTOR TODAY.
per cent this fiscal and the fiscal and current account deficits would remain within limits. Asian stocks ended on a mixed note even as fears heightened that the US Federal Reserve may pare QE in the coming months.
Frontline stocks like Aurobindo Pharma, Crompton, Eicher Motors, JSW Steel, M&M Financial and Pidilite Inds made 52 week high during intraday trades today despite lackluster market today.
Bank stocks dropped while Realty stocks edged higher. GAIL (India) rose as Prime Minister has dedicated to the nation GAIL (India)'s 1,000 km-long natural gas pipeline from Dabhol in Maharashtra to Bangaluru in Karnataka The market breadth, indicating the overall health of the market, was positive with advance/decline at 1255/1233 at the close.
Top Nifty Gainers were Gail India, BHEL, Jindal steel & power, NMDC & DLF
Top Nifty Losers were Indusind Bank, Kotak Bank, L&T, Sesa Sterlite and Dr Reddys lab
Global Markets Updates:
European stocks edged down to one-week lows, led by miners, after strong U.S. data heightened
concern the Federal Reserve will scale back stimulus sooner rather than later. Both NASDAQ and Dow futures were trading negative at this evening down by about 4 points each.
Technical View
RSI was at 57, MACD positive above signal line; India VIX was at 25~ which all Indicate that MACD positive is a good sign but VIX at higher levels indicating that market may witness some profit booking at higher levels. Today, nifty closed above all its moving averages 5 DMA (6148), 20 DMA (6118), 50 DMA (6077) & 200 DMA (5870) indicate that market is in the uptrend but investors need to be cautious at higher levels for fresh entry.
MARKETS CLOSED ON A NEGATIVE NOTE WITH A MIXED BAG AT THE CLOSE WITH BSE REALTY BEING A MAJOR GAINER WHILE FMCG WAS THE WORST PERFORMING SECTOR TODAY.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.