Indian indices edged lower in choppy trade as European stocks declined.
Telecom stocks tumbled as a surprise decision of Reliance Industries (RIL) to join the bidding for
upcoming telecom spectrum auction slated for 3 February 2014 raised concerns of aggressive bidding
in the auction which in turn could have an adverse impact on balance sheet of telecom firms.
Bajaj Auto rose on good Q3 result. HCL Technologies rose and hit record high after the company
reported good Q2 result before trading hours.
L&T rose after the company said that it has recently secured new orders of Rs 1000 crore from the
domestic market in its offshore and onshore hydrocarbon business segment.
AXIS Bank dropped in choppy trade as the bank's bad loans rose in Q3 December 2013.
A bout of volatility was witnessed in early trade as key benchmark indices pared gains after a firm
start triggered by higher Asian stocks. The Sensex hit its highest level in more than five weeks at the
onset of the trading session. The market breadth, indicating the overall health of the market, was
negative.
Top Nifty Gainers were HCL TECH, COAL INDIA, ULTRATECH, BHEL, WIPRO
Top Nifty Losers were BHARTI AIRTEL, TATA MOTORS, SUN PHARMA, ONGC, M&M
Global Markets Updates:
European equities edged lower early on Thursday after climbing to a 5-1/2-year high in the previous
session, with poor sales number from Dutch grocer Ahold and a cautious outlook from Dixons hurting
retailers.
Both Dow and Nasdaq Futures were trading in Green at this evening.
RSI was at 59, MACD positive above signal line; India VIX was at 15~ which all Indicate that market are poised
for some further positive news to resume with uptrend.
Today, Nifty closed above 5DMA (6265), 20DMA (6246) 50DMA (6192) and 200DMA (5937) which all indicate
that market may see some more upside.
Telecom stocks tumbled as a surprise decision of Reliance Industries (RIL) to join the bidding for
upcoming telecom spectrum auction slated for 3 February 2014 raised concerns of aggressive bidding
in the auction which in turn could have an adverse impact on balance sheet of telecom firms.
Bajaj Auto rose on good Q3 result. HCL Technologies rose and hit record high after the company
reported good Q2 result before trading hours.
L&T rose after the company said that it has recently secured new orders of Rs 1000 crore from the
domestic market in its offshore and onshore hydrocarbon business segment.
AXIS Bank dropped in choppy trade as the bank's bad loans rose in Q3 December 2013.
A bout of volatility was witnessed in early trade as key benchmark indices pared gains after a firm
start triggered by higher Asian stocks. The Sensex hit its highest level in more than five weeks at the
onset of the trading session. The market breadth, indicating the overall health of the market, was
negative.
Top Nifty Gainers were HCL TECH, COAL INDIA, ULTRATECH, BHEL, WIPRO
Top Nifty Losers were BHARTI AIRTEL, TATA MOTORS, SUN PHARMA, ONGC, M&M
Global Markets Updates:
European equities edged lower early on Thursday after climbing to a 5-1/2-year high in the previous
session, with poor sales number from Dutch grocer Ahold and a cautious outlook from Dixons hurting
retailers.
Both Dow and Nasdaq Futures were trading in Green at this evening.
RSI was at 59, MACD positive above signal line; India VIX was at 15~ which all Indicate that market are poised
for some further positive news to resume with uptrend.
Today, Nifty closed above 5DMA (6265), 20DMA (6246) 50DMA (6192) and 200DMA (5937) which all indicate
that market may see some more upside.
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