The key domestic indices ended lower for the second day on the trot as the Sensex shed more than 140 points as
investors exercised caution ahead of key events such as the results of the state assembly elections on Sunday and
key US economic data due this week which may offer further cues over the timing of the reduction of the Federal
Reserve’s record stimulus program.
Robust US economic reports may fuel fears over US stimulus taper in the near-term, dimming the appeal of emerging
market assets. A fifth straight contraction in India’s private sector output also undermined sentiment as services
shrank, underscoring slowdown fears. A combined gauge of manufacturing and services stood at 48.5 in November,
with a reading below 50 signaling contraction.
Most Asian stocks ended lower today as investors were jittery ahead of a spate of US economic data this week
including services, new home sales, non-farm payrolls, consumer spending and Q3 GDP which may dictate the
outcome of the US Federal Reserve’ s policy meet on December 17-18.
The rupee was trading marginally higher to the US dollar at Rs 62.30 compared with last close of Rs 62.36 as the
dollar flows from banks is seen helping offset dollar demand from oil marketing companies.
BSE Realty index was the top loser among the sectoral indices down 2.7% followed by Capital Goods, FMCG, Auto,
Oil and Gas indices down 0.8-1.4% each.
Capital Goods shares witnessed profit taking after recent gains while high inflation levels continued to weigh on
FMCG stocks.
Among frontline A group stocks, Aurobindo Pharma and Thermax made their 52 week high during the intraday trades
today.
Top Nifty Gainer were Tata Power, PNB, NMDC, Powergrid and Wipro
Top Nifty Losers were Hindalco, IDFC, ITC, Ranbaxy and ONGC
Global Markets Updates:
o European shares traded flat on Wednesday, steadying after the previous session's steep losses,
with Asia-focused bank Standard Chartered the leading decliner after it warned its profits were
likely to fall.
o Both NASDAQ and Dow futures were trading negative at this evening down by about 4 points each.
RSI was at 53, MACD positive above signal line; India VIX was at 23~ 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.
Though Nifty closed below its 5 DMA (6170) but still above its 20 DMA (6114), 50 DMA (6080) & 200 DMA
(5871) indicating that market has broken its immediate short term support but still undertone is bullish.
investors exercised caution ahead of key events such as the results of the state assembly elections on Sunday and
key US economic data due this week which may offer further cues over the timing of the reduction of the Federal
Reserve’s record stimulus program.
Robust US economic reports may fuel fears over US stimulus taper in the near-term, dimming the appeal of emerging
market assets. A fifth straight contraction in India’s private sector output also undermined sentiment as services
shrank, underscoring slowdown fears. A combined gauge of manufacturing and services stood at 48.5 in November,
with a reading below 50 signaling contraction.
Most Asian stocks ended lower today as investors were jittery ahead of a spate of US economic data this week
including services, new home sales, non-farm payrolls, consumer spending and Q3 GDP which may dictate the
outcome of the US Federal Reserve’ s policy meet on December 17-18.
The rupee was trading marginally higher to the US dollar at Rs 62.30 compared with last close of Rs 62.36 as the
dollar flows from banks is seen helping offset dollar demand from oil marketing companies.
BSE Realty index was the top loser among the sectoral indices down 2.7% followed by Capital Goods, FMCG, Auto,
Oil and Gas indices down 0.8-1.4% each.
Capital Goods shares witnessed profit taking after recent gains while high inflation levels continued to weigh on
FMCG stocks.
Among frontline A group stocks, Aurobindo Pharma and Thermax made their 52 week high during the intraday trades
today.
Top Nifty Gainer were Tata Power, PNB, NMDC, Powergrid and Wipro
Top Nifty Losers were Hindalco, IDFC, ITC, Ranbaxy and ONGC
Global Markets Updates:
o European shares traded flat on Wednesday, steadying after the previous session's steep losses,
with Asia-focused bank Standard Chartered the leading decliner after it warned its profits were
likely to fall.
o Both NASDAQ and Dow futures were trading negative at this evening down by about 4 points each.
RSI was at 53, MACD positive above signal line; India VIX was at 23~ 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.
Though Nifty closed below its 5 DMA (6170) but still above its 20 DMA (6114), 50 DMA (6080) & 200 DMA
(5871) indicating that market has broken its immediate short term support but still undertone is bullish.
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