BSE Sensex fell further by more than 150 points today marking its seventh losing session out of eight as blue
chips such as ICICI Bank fell after the U.S. Federal Reserve announced the start of its tapering, raising concerns
about foreign investor sales.
The Fed cut its monthly bond buying plan by USD 10 billion to USD 75 billion from USD 85 billion, citing
improvement in the labour market outlook of the US economy. Concerns rose that FIIs may start switching
investment to the US from emerging markets.
However, Indian Finance Minister P Chidambaram said that he is confident that the country will be able counter
the effects of the mild QE taper by the US central bank. Banking stocks were the major losers at Dalal Street
today.
Globally, Asian stocks ended mixed today. The Market breadth, indicating the overall health of the market, was
weak. Front line stocks like Amara Raja Batteries, Aurobindo Pharma, Bharat Forge, Divis Lab, HCL Tech, Infosys,
JSW Steel, Maruti Suzuki, Tech Mahindra and Wipro made new 52 week high during intraday trades today. Among
the 30-share Sensex, 19 stocks declined and rest of them gained.
Sector wise, Health care, IT and Tech were among the gainers whereas others were in the losers list led by Banks,
Capital goods, Oil and gas and PSUs.
Midcap and Small cap also joined the party and were down on account of profit booking in select counters.
Top Nifty Gainers were HCL Tech Maruti Lupin Ranbaxy lab and Sesa Sterlite
Top Nifty Losers were Kotak bank ICICI Bank L&T HDFC and ONGC
Global Markets Updates:
European shares rallied on Thursday after the Federal Reserve sugar-coated the decision to start winding down its
crisis-era stimulus with a promise to keep record low interest rates in place even longer than previously signaled.
Both DOW and NASDAQ futures were both trading In Red this evening.
RSI was at 49, MACD positive below signal line; India VIX was at 17~ which all Indicate that market see some more volatile session going ahead into FNO expiry next week. Today, Nifty closed above 50DMA (6161) 200DMA (5893) but below 5DMA (6169), 20DMA (6183), which all indicate that market may be volatile going ahead in this week.
chips such as ICICI Bank fell after the U.S. Federal Reserve announced the start of its tapering, raising concerns
about foreign investor sales.
The Fed cut its monthly bond buying plan by USD 10 billion to USD 75 billion from USD 85 billion, citing
improvement in the labour market outlook of the US economy. Concerns rose that FIIs may start switching
investment to the US from emerging markets.
However, Indian Finance Minister P Chidambaram said that he is confident that the country will be able counter
the effects of the mild QE taper by the US central bank. Banking stocks were the major losers at Dalal Street
today.
Globally, Asian stocks ended mixed today. The Market breadth, indicating the overall health of the market, was
weak. Front line stocks like Amara Raja Batteries, Aurobindo Pharma, Bharat Forge, Divis Lab, HCL Tech, Infosys,
JSW Steel, Maruti Suzuki, Tech Mahindra and Wipro made new 52 week high during intraday trades today. Among
the 30-share Sensex, 19 stocks declined and rest of them gained.
Sector wise, Health care, IT and Tech were among the gainers whereas others were in the losers list led by Banks,
Capital goods, Oil and gas and PSUs.
Midcap and Small cap also joined the party and were down on account of profit booking in select counters.
Top Nifty Gainers were HCL Tech Maruti Lupin Ranbaxy lab and Sesa Sterlite
Top Nifty Losers were Kotak bank ICICI Bank L&T HDFC and ONGC
Global Markets Updates:
European shares rallied on Thursday after the Federal Reserve sugar-coated the decision to start winding down its
crisis-era stimulus with a promise to keep record low interest rates in place even longer than previously signaled.
Both DOW and NASDAQ futures were both trading In Red this evening.
RSI was at 49, MACD positive below signal line; India VIX was at 17~ which all Indicate that market see some more volatile session going ahead into FNO expiry next week. Today, Nifty closed above 50DMA (6161) 200DMA (5893) but below 5DMA (6169), 20DMA (6183), which all indicate that market may be volatile going ahead in this week.
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