Nifty ended higher today taking support for a third day at its 200-day moving average, as blue-chips such as ITC
recovered on bargain-hunting after the index had fallen steeply over the previous two weeks. Nifty ends above
6,030.
Key benchmark indices edged higher in a choppy trade, with Nifty regaining the psychological 6,000 level after
falling below that mark earlier during the trading session. Gains in Asian and European stocks supported gains on
the domestic bourses. The market breadth, indicating the overall health of the market, was negative.
Power Grid Corp declined after weak Q3 results. Bank of Baroda fell in choppy trade as sticky loans rose in Q3
December 2013. Metal stocks edged higher. ACC rose after announcing a small percentage increase in its bottom
line for the year ended 31 December 2013. FMCG, Consumer Durables and Metal names among the top gainers
for the day.
Earlier in the day, markets had opened firm but were unable to sustain gains on profit taking at higher levels.
Later, there was a sharp fall in the markets with the Sensex tanking over 150 points only to rebound remain
range bound till noon. Further, firm opening in European markets led to gradual recovery post noon to finally end
the session with marginal gains.
Coal India up 4.5% was the top Sensex gainer. Jet Airways (India) surged 11% to Rs 234 on reports that the
Competition Commission of India (CCI) on Wednesday approved Etihad's 50.1% stake buy in Jet Privilege Private
Ltd (JPPL), a customer loyalty programme unit of Jet Airways.
TOP Gainers were COAL INDIA, TATA POWER, HUL, NMDC, M&M
TOP Losers were JP ASSOCIATE, BHEL, DLF, PNB, AXIS BANK
Global Markets Updates:
European equities climbed higher in cautious trading ahead of rate decisions by central banks on
Thursday, with reassuring earnings results from major companies such as Alcatel-Lucent and
AkzoNobel boosting their shares.
Both Dow and NASDAQ futures were trading in GREEN at this evening.
Technical View
RSI was at 36 MACD Negative below signal line; India VIX was at 19~ which all Indicate that market are in
range bound for immediate short term.
Today, Nifty closed above its 5 DMA (6030) 200 DMA (5976) but below its 20 DMA (6188) 50 DMA (6212) which
all indicate that market may see some support in intermediate to short term.
recovered on bargain-hunting after the index had fallen steeply over the previous two weeks. Nifty ends above
6,030.
Key benchmark indices edged higher in a choppy trade, with Nifty regaining the psychological 6,000 level after
falling below that mark earlier during the trading session. Gains in Asian and European stocks supported gains on
the domestic bourses. The market breadth, indicating the overall health of the market, was negative.
Power Grid Corp declined after weak Q3 results. Bank of Baroda fell in choppy trade as sticky loans rose in Q3
December 2013. Metal stocks edged higher. ACC rose after announcing a small percentage increase in its bottom
line for the year ended 31 December 2013. FMCG, Consumer Durables and Metal names among the top gainers
for the day.
Earlier in the day, markets had opened firm but were unable to sustain gains on profit taking at higher levels.
Later, there was a sharp fall in the markets with the Sensex tanking over 150 points only to rebound remain
range bound till noon. Further, firm opening in European markets led to gradual recovery post noon to finally end
the session with marginal gains.
Coal India up 4.5% was the top Sensex gainer. Jet Airways (India) surged 11% to Rs 234 on reports that the
Competition Commission of India (CCI) on Wednesday approved Etihad's 50.1% stake buy in Jet Privilege Private
Ltd (JPPL), a customer loyalty programme unit of Jet Airways.
TOP Gainers were COAL INDIA, TATA POWER, HUL, NMDC, M&M
TOP Losers were JP ASSOCIATE, BHEL, DLF, PNB, AXIS BANK
Global Markets Updates:
European equities climbed higher in cautious trading ahead of rate decisions by central banks on
Thursday, with reassuring earnings results from major companies such as Alcatel-Lucent and
AkzoNobel boosting their shares.
Both Dow and NASDAQ futures were trading in GREEN at this evening.
Technical View
RSI was at 36 MACD Negative below signal line; India VIX was at 19~ which all Indicate that market are in
range bound for immediate short term.
Today, Nifty closed above its 5 DMA (6030) 200 DMA (5976) but below its 20 DMA (6188) 50 DMA (6212) which
all indicate that market may see some support in intermediate to short term.
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