Market Summary for the day :16/09/2014

Sensex, Nifty fall most in 1-1/2 months ahead of Fed outcome:

Sensex and Nifty fell over 1 percent, posting its biggest single-day decline in 1-1/2 months as blue-chips slipped on caution ahead of the U.S. Federal Reserve's two-day meeting, while foreign portfolio sales also weighed on sentiment.

Domestic equity markets extended previous session’s losses and ended down with sharp cut of over 1.20% on Tuesday, which dragged both Sensex and Nifty below the psychologically crucial 27,000 and 8,000 levels respectively. Absence of any positive triggers at home front combined with global anxiety as investors braced for a possible hawkish shift in the U.S. Federal Reserve's policy stance in its two-day policy meeting, which begins later in the day, mainly took a toll on buying activity. Though, markets started on subdued note, the selling pressure which accentuated during the second half of trading session, i.e. post the start of European markets, mainly pushed markets near day’s low point. Meanwhile, broader indices diving deeper into the gut, nursed heavier losses of around three percent by close of trade.

The sentiments were on pessimistic note after RBI’s governor, underscored that there were no chances of RBI slashing rates at the month-end monetary policy announcement, citing that Inflation in Indian economy, was still high and hence there was no point in slashing interest rates since this would further build on to inflationary pressures. 

Traders were seen piling positions in FMCG and IT while selling was witnessed in Realty, PSU and Consumer Durables sector stocks. In scrip specific development, Colgate-Palmolive was trading firm after a foreign brokerage firm upgraded the stock to outperform from underperform. Marico was trading in green touching fresh 52-week high 

after the foreign brokerage firm added the company in its top pick in the mid-cap consumer space.

On the global front, the Asian markets were trading mostly in red while the European market was too trading on pessimistic note. The market breadth on BSE was negative in the ratio of 793:2115 while 87 scrips remained unchanged.

Sensex is currently trading at 26595.85, down by 220.71 points after trading in a range of 26550.29 and 26861.29. 

There were 8 stocks advancing against 22 stocks declining on the index. The broader indices were trading in red; the BSE Mid cap index was down by 2.69%, while Small cap index down by 3.21%.The gaining sectoral indices on the BSE were FMCG up by 0.12%, IT up by 0.07% while, Realty down by 2.62%, PSU down by 2.54%, Consumer Durables down by 2.41%, Power down by 2.40%, Oil & Gas down by 2.18% were the losing indices on BSE.

The top gainers on the Sensex were Dr. Reddy’s Lab up by 1.45%, Sun Pharma Industries up by 0.62%, Bharti Airtel up by 0.57%, Infosys up by 0.55% and Hero MotoCorp up by 0.45%. On the flip side, Tata Steel down by 3.25%, ONGC down by 2.63%, Axis Bank down by 2.57%, Tata Motors down by 2.54% and Tata Power down by 2.53% were the top losers.

The European markets were trading in red; Germany’s DAX was down by 42.86 points or 0.44% to 9,616.77, France’s CAC was down 26.83 points or 0.61% to 4,401.80 while, UK’s FTSE 100 was down by 19.32 points or 0.28% to 6,784.89.

TECHNICAL PARAMETERS OF NIFTY

Technically on Nifty, RSI was at 48, MACD Positive below Signal line; India VIX was at 13~, Nifty closed below its both short term moving averages like 5 DMA (8052), 20 DMA (8014) but above its medium and long term ie. 50 DMA (7815) & 200 DMA (6938) which all indicates that market is consolidating on account of profit booking in some of the leading blue chip stocks but is still intact.

Market Summary for the day : 21/07/2014

Extending their northbound journey to fifth straight session, Indian equity markets accumulated gains of around quarter of a percent, which lifted Sensex and Nifty higher above the psychologically crucial 25,700 and 7,650 levels respectively.

Unlike, the trend seen in previous four trading sessions, not much of buying was witnessed in the last hour of trade,rather selling pressure which was witnessed in the last hour of trade mainly halved markets’ gains and dragged benchmarks to day’s low point as much of market-participants triggered profits at higher levels. Nevertheless, it was a broadly positive session of trade, wherein broader indices outperformed frontline indices by quite a good of a margin, with both Midcap and Small-cap indices settling higher with gains in the range of 0.55%-0.85%.

On the global front, Most Asian stock markets settled higher as investors set aside geopolitical concerns for the moment to focus on the generally upbeat flow of U.S. corporate earnings ahead of a host of results due this week.

Slew of better than expected corporate earnings and good monsoon reports mainly kept the markets sentiment upbeat for yet another session. On the earnings front, shares in Reliance Industries rose over 2% to Rs 1003 after it reported better-than-expected quarterly profit in its first quarter. Its consolidated net profit increased 13.7% year-onyear to Rs 5,957 crore, bolstered by over 27% y-o-y increase in its oil and gas revenue and higher refining margin.

HDFC Ltd. too rallied over 2% after the company’s standalone profit for the quarter ended 30 June rose 14.62% to Rs.1,344.66 crore from Rs 1,173.10 crore in the corresponding period a year ago.

Finance Minister Arun Jaitley has stated that the recapitalization to the tune of Rs 2.4 lakh crore in public sector banks to meet Basel III norms is a high priority item for the government. Finance Minister added that the government will make a plan for recapitalizing of public sector banks over the next four years and capital would be raised by the banks without diluting the government stake below 51 percent.

Latest weather reports which suggested of monsoon deficit coming down by 31% with rains picking up in July across the country, also buttressed the sentiment. Sectorally, while stocks from FMCG, Consumer Durables and Oil & Gas counters were the major pillars of markets’ strength, those from Realty, Capital Goods and Metal counters were the weak links of trade. The market breadth on the BSE ended positive; advances and declining stocks were in a ratio of 1693: 1265, while 107 scrips remained unchanged.

Sensex gained 43.09 points at 25684.65. The index touched a high and a low of 25861.15 and 25677.77 respectively. 14 stocks gained against 16 declines on the index. BSE Mid cap and Small cap indices ended in red. Nifty ended higher by 20.30 points at 7,684.20. The index touched high and low of 7,722.10 and 7,674.00 respectively. 25 stocks ended in the green against 25 stocks ending in red.

On the BSE sectoral front, FMCG was up by 1.04%, Oil and Gas up by 0.32% and Consumer Durables gained 0.49% were the few gainers, while Realty down by 1.09%, Capital Goods down by 0.89%, PSU down by 0.66%, Infrastructure was down by 0.52% and Metal down by 0.35% were the major losers in the space.

Top gainers on the Sensex were HDFC up by 2.44%, RIL up by 1.99%, ITC up by 1.35%, Axis Bank up by 1.00% and HUL was up by 0.96%. On the flip side, Tata Power down by 1.99%, SBI down by 1.74%, Gail India down by 1.53%, Infosys down by 1.42% and BHEL down by 1.28% were the major losers.

TECHNICAL PARAMETERS OF NIFTY

Today, RSI was at 59, MACD Positive below Signal line; India VIX was at 15~, Nifty closed above all its moving averages like 5 DMA (7486), 20 DMA (7610), 50 DMA (7486) & 200 DMA (6602) which all indicates that market is in strong bull run, though we may see some profit booking at higher levels but overall trend remains positive only.

Market Summary for the day : 17/07/2014

Indian equity benchmarks ended the choppy day of trade on quiet note with positive bias as investors turned cautious and booked profits at higher levels. Sentiments remained optimistic on report that overseas investors bought Indian shares worth 6.21 billion rupees on July 16, 2014. Some support also came on report that the deficit in monsoon rains is expected to narrow next week as the grain bowl in northwest, oilseed areas of central parts and cotton belt of the western region are set to get higher downpours. The monsoon rains were 15% below average in the past week, against 41% below average rainfall in the previous week. 

However, upside remained capped as investors remained on sidelines ahead of important numbers of IT bellwether Tata Consultancy Services (TCS). The company is likely to report modest decline in net profit on Q-o-Q, weighed down by impact of salary increases and appreciation of rupee. 

Global cues remained sluggish with Asian markets ending mostly in the red on Thursday, giving up earlier modest gains as Chinese shares fell, while the euro probed recent lows against the dollar amid speculation the U.S. Federal Reserve was tilting towards tighter monetary policy. 

Back home, rally in capital goods shares aided the sentiments as stocks like, L&T and BHEL edged higher after Reserve Bank of India (RBI) announced incentives to raise long term bonds for infrastructure financing. Metal pack witnessed heavy buying with Hindalco and Tata Steel followed by Coal India and Sesa Sterlite on the back of positive  Chinese GDP growth data. Power stocks too remained investors’ choice after Delhi Electricity Regulatory Commission (DERC) approved tariff hike of 8.32 percent for all three discoms Reliance ADAG-owned discom BSES Yamuna  Power (BYPL), BSES Rajdhani Power (BRPL), Tata Power Delhi Distribution Company (TPDDL). 

Export oriented stocks too remained on buyers’ radar, as Federation of Indian Exports Organisations (FIEO) has said that export momentum is likely to continue in the coming months on the back of higher demand helped by an uptick in global economies and measures announced in the Union Budget. Additionally, public sector oil marketing companies (OMCs) too edged higher on reports that losses on sale of diesel have fallen by nearly a rupee to Rs 2.49 per litre as international oil rates have moderated. On the flip side, auto pack ran out of steam after Bajaj Auto’s net profit rose marginally 0.31% to Rs 739.98 crore in first quarter ended June 2014 over the corresponding quarter in the previous year. 

The NSE’s 50-share broadly followed index Nifty ended higher by over fifteen points to end above its psychological 7,600 support level, while Bombay Stock Exchange’s Sensitive Index -- Sensex edged higher by over ten points to end above the psychological 25,550 mark. The broader markets outperformed benchmarks and ended the session with a gain of around one and a half percent. The market breadth remained in favour of advances, as there were 1,746 shares on the gaining side against 1,188 shares on the losing side while 112 shares remain unchanged. 

Finally, the BSE Sensex added 11.44 points or 0.04%, to 25561.16, while the CNX Nifty gained 16.05 points or 0.21%, to 7,640.45. 

The BSE Sensex touched a high and a low of 25613.03 and 25494.46, respectively. The BSE Mid cap index was up by 1.37%, while Small cap index gained 1.35%. 

The top gainers on the Sensex were Hindalco Inds up by 3.91%, Tata Power up by 3.53%, Tata Steel up by 2.99%, Coal India up by 2.86% and NTPC up by 2.63%. On the flip side, the key losers were Mahindra & Mahindra down by 3.18%, Bajaj Auto down by 2.27%, Gail India down by 0.91%, Maruti Suzuki down by 0.87% and TCS down by 0.84%. 

On the BSE sectoral front, Metal up by 2.46%, Power up by 2.36%, Consumer Durables up by 2.11%, Capital Goods up by 1.16% and PSU up by 0.89% were the top gainers, while Realty down by 0.77%, Oil & Gas down by 0.42%, Auto down by 0.16% and Bankex down by 0.01% were the losers in the space.

Technical Parameters of Nifty

Today, RSI was at 57. MACD Positive below Signal line; India VIX was at 15~. Nifty closed below its short moving averages like 5 DMA (7541) & 20 DMA (7593) but still above its medium term moving average like 50 DMA (7456) & long term MA of 200 DMA (6583) which all indicates that profit booking may continue at higher levels, but long trend remains positive in the medium to long term. 

Market Summary of the day : 30/06/2014

Indian markets started off the week with all the benchmark indices rising by more than a percent point mainly due to the rise in banks, power and PSU oil & gas stocks. Sentiments remained up-beat since start as key bourses opened

with decent gains and there appeared not even an iota of profit booking in the session as the benchmarks managed to fervently gain from strength to strength as investors continued hunt for fundamentally strong stocks. Frontline indices not only ended the session near intraday high levels but also recaptured their crucial 7,600 (Nifty) and 25,400 (Sensex) bastions as investors took to hefty across the board buying.

Global stocks surged for their fourth straight quarter, as investors were expecting that a raft of U.S. and European economic data due this week will soothe recent worries over the pace of growth. European markets trade mostly in the green in early deals despite data showing that retail sales in Germany slowed unexpectedly in May to 1.9% over the last year and below expectations calling for a gain of 2.1%. Asian markets showed mixed performance with SSE Composite and Nikkei 225 ending in green while Hang Seng and Straits Times ending in red.

Back home, there was broad based buying witnessed in the markets and apart from the blue chips, the broader markets too participated strongly in the rally. Meanwhile, rally in shares of state-owned banks too supported the sentiments after the government decided to create a holding company structure for public sector banks before the Budget. Shares of public oil marketing companies, namely BPCL, HPCL and IOC too remained on buyers’ radar on lower Brent crude prices. Globally, Brent futures dipped towards $113 a barrel on Monday, adding to last week's fall as fears of a disruption to supplies from Iraq eased after government forces launched a pushback against a Sunni militant takeover of large areas of the country. Moreover, steel stocks too edged higher on report that Eastern region is set to push India's steel capacity with an investment of nearly Rs 9 lakh crore for creating an additional 160 million tonnes per annum (mtpa) capacity in the next 10-15 years. 
Shares of state-run oil and gas companies rallied 1-5 percent on hopes of new subsidy sharing mechanism. “Oil ministry is keen on fixed realisation of USD 60-65 a barrel for ONGC and Oil India, and is also keen to link production with fixed higher realisations, say sources. ONGC was up 3 percent and Oil India advanced 1.7 percent.

 The fall in crude oil prices too drove these stocks higher. Brent crude fell below USD 113 a barrel today on easing of supply disruption fears from Iraq. BPCL, HPCL and IOC rallied 4-5 percent.

Sensex gained 313.86 points to settle at 25,413.78. The index touched a high and a low of 25,460.96 and 25,179.55 respectively. Among the 30-share Sensex, 24 stocks gained, while 6 declined. BSE Mid cap and Small cap indices

ended higher by 1.89% and 1.80% respectively.

On the BSE sectoral front, Power up by 2.88%, PSU up by 2.62%, Capital goods up by 2.18%, Healthcare up by 1.80% and Bankex up by 1.71% were the top gainers with no sectoral index in red, 
Top gainers on the Sensex were Sun Pharma up by 3.87%, Tata Power up by 3.81%, ONGC up by 3.08%, ICICI

Bank up by 2.43% and Dr. Reddy’s up by 2.43%. On the flip side, the key losers were Bajaj Auto down by 1.02%, M&M down by 0.52%, Maruti Suzuki down by 0.47%, Tata Motors down by 0.25% and Wipro down by 0.16%. 
European markets remained flat with; UK’s FTSE 100 up by 0.04%, Germany’s DAX up by 0.28% and France’s CAC 40 down by 0.22%.

TECHNICAL PARAMETERS OF NIFTY

Today, RSI was at 62, MACD Positive below Signal line; India VIX was at 18~. Nifty closed above its immediate short term moving averages of 5 DMA (7553), its 20 DMA (7552), 50 DMA (7227) & 200 DMA (6471) which all indicate that market may face resistance at higher levels, but overall trend remains positive in the medium to long term.

Market Summary of the day : 17/06/2014

After witnessing correction in previous two trading session, Indian equity markets staged a smart recovery and accumulated gains of over 1.25%, which lifted both Sensex and Nifty higher above psychologically crucial 25,500 and 7,600 levels respectively today. Much of the session’s gains were bargained by the bourses in the last hour of trade as marketparticipants scrambled to cover their pending short positions, with some of them also initiating fresh bets of select-blue chip stocks available at attractive valuations after recent drubbing.

Initially, the benchmarks after wandering in no-man’s land for most part of the session, drifted lower in afternoon deals in absence of any positive trigger, which could lift the markets higher. Nevertheless, buoyed by the recovery of European counterparts, the Indian equity markets staged a smart recovery by close of trade and snapped two consecutive sessions’ losing streak. Meanwhile, broader indices also gaining in line with frontline indices went home with gains in the range of 1.50%-2.00%.

On the global front, Asian shares settled mostly positive, though the double-whammy of a deepening conflict in Iraq and a gas dispute between Ukraine and Russia kept the gains in check. Brent crude prices remained near nine-month highs after militants from the Islamic State of Iraq and the Levant (ISIL) group seized a large swathe of northern Iraq and threatened to capture a key oil refinery. The insurgent advance forced Washington to not only consider options for military action but also hold brief talks with Iran, its long-time foe, to support the besieged government in Baghdad. Meanwhile, European shares edged higher on Tuesday, boosted by hopes for mergers and acquisitions among healthcare companies and rebounding from losses caused by geopolitical concerns.

Closer home, in the stellar session of trade, where broad-based buying took place, only stocks from Fast Moving Consumer Goods counter acted as spoilsport. On the flip side, stocks from Oil & Gas, Public Sector Undertaking (PSU) and Banking counters were the top gainers of the session. In non-sectoral gauge activity, fertilizer stocks rallied in the range of 8%-10% on hopes of announcement of reforms for the sector in the upcoming budget to be presented by the new government.

Besides, tyre stocks too were in top gear, with stocks of JK tyre and CEAT hitting 52 week high level during the session. The market breadth on the BSE ended positive; advances and declining stocks were in a ratio of 2049:950, while 111 scrips remained unchanged. (Provisional)

The BSE Sensex gained 330.71 points to settle at 25521.19. The index touched a high and a low of 25545.88 and 25104.50respectively. Among the 30-share Sensex, 23 stocks gained, while 7 stocks declined.

The broader indices too traded with traction and ended in the green; the BSE Mid cap index was up by 1.50% and Small cap index was up by 2.03%.

On the BSE Sectoral front, Oil and Gas up by 2.86%, PSU up by 2.74%, Bankex up by 2.28%, Infrastructure up by 2.01% and Capital Goods up by 1.93% were the top gainers while, FMCG down by 0.17%, was the lone loser in the space.

The gainers on the Sensex were ONGC up 4.34%, Axis Bank up by 3.99%, SSLT up by 3.33%, BHEL up by 3.11% and RIL up by 2.83%. On the flip side, the key losers were M&M down by 1.89%, Hero MotoCorp down by 0.79%, Dr Reddys down by 0.58%, HUL down by 0.52% and Bajaj Auto down by 0.34%.

Meanwhile, Steel Ministry’s latest report highlighted that Indian steel industry is likely to face raw material supply crunch in future. As per the report, concerns like environmental constraints, mining caps, inadequate infrastructure to move iron ore, and the strain on overall reserves could impact the raw material supply to domestic steel players.

India VIX, a gauge for markets short term expectation declined 1.59% at 17.69 from its previous close of 17.98 on Monday.

European markets were trading in green; UK’s FTSE 100 up by 0.18%, Germany’s DAX up by 0.49% and France’s CAC 40 was up by 0.10%.

TECHNICAL PARAMETERS OF NIFTY

Today, RSI was at 70, MACD positive below signal line; India VIX was at 18~. Nifty closed below its immediate short term moving averages like 5 DMA (7597) but still above 20 DMA (7445), 50 DMA (7083) & 200 DMA (6377) which all indicate that market may face some resistance at higher levels due to profit booking but overall trend is remains positive in the medium to long term. Investors may accumulate on dips and book profits in selected counters.

Market Summary of the day : 16/06/2014

Indian equity benchmarks recovered from day’s low but continue to trade in the red terrain in the late afternoon session taking cues from weak global counterparts. The sentiments were on pessimistic mood after the annual rate of inflation, based on monthly WPI, came in at highest level since December 2013, at 6.01% for month of May, 2014, as compared to 5.20% and 4.58% during corresponding month in the previous year. 

Traders were seen piling up positions in IT, TECK and Realty, while selling was witnessed in Capital Goods, Auto and Bankex sector stocks. In scrip specific development, Idea Cellular was trading in green after RBI allowed an increase in FII limit for the company. Yes Bank was trading in green after the bank’s advance tax payment rose 20.19% to Rs 125 crore in Q1 June 2014 over Q1 June 2013. 

On the global front, the Asian markets were trading on a mixed note, while the European markets traded on pessimistic note. 

Meanwhile, the global rating agency Fitch, in its latest report, has highlighted that a strong government at the Centre and stability in macro economic factors are likely to keep country's public sector banks' outlook stable in the near term. 

Indian banking industry is the most dominant segment of the country’s financial sector and plays an imperative role in the economic development of the country. Over the past two fiscal years, Indian economy has been struggling with slowdown and growth remained below 5 percent for the second time in a row at 4.7 percent during FY14. Industry, being highly correlated to economic scenario, is under pressure due to prevailing economic downturn leading to rise in NPAs of banks. The state-owned banks have been the most affected in terms of rise in their non-performing assets. The top 36 banks of India have reported gross NPAs of Rs 2,34,014 crore by March 2014, a 36 percent jump from Rs 1,71,853 crore on year-on-year basis. 

The gaining sectoral indices on the BSE were IT up by 1.60%, TECK up by 1.25%, Realty up 1.15%, Consumer Durables up 0.72% and HealthCare up by 0.38% while, Capital Goods down by 1.83%, Auto down by 0.89%, Bankex down by 0.82%, Metal down by 0.33% and Power down by 0.27% were the top losing indices on BSE. 

The top gainers on the Sensex were Gail India up by 2.69%, TCS up by 2.42%, Infosys up by 1.96%, Tata Power up by 1.74% and Bajaj Auto up by 1.74%. On the flip side, Axis Bank down by 3.24%, L&T down by 2.42%, Mahindra & Mahindra down by 2.32%, HDFC down by 1.78% and Tata Motors down by 1.60% were the top losers. 

TECHNICAL PARAMETERS OF NIFTY 

Today, RSI was at 66, MACD positive below signal line; India VIX was at 18~. Nifty closed below its immediate short term moving averages like 5 DMA (7601) but still above 20 DMA (7427), 50 DMA (7064) & 200 DMA (6366) which all indicate that market may face some resistance at higher levels due to profit booking but overall trend is remains positive in the medium to long term. Investors may accumulate on dips and book profits in selected counters. 

Market summary of the day : 10/06/2014

Indian equity indices staged a smart recovery in last leg of trade today and ended the session slightly in the green, pairing all their early losses, supported by short-covering in beaten down but fundamentally strong stocks. Domestic bourses reeled under selling pressure during most of the session as investors turned cautious on report of poor monsoons, after weather officials highlighted that this year’s monsoon rains have been deficient so far and the rainfall between June and September could be between 90 and 96% of the long-term average. Also President Mukherjee had said that the current economic situation is extremely difficult and expressed the government's commitment to put India back on high growth path, while containing inflation and making tax regime non-adversarial. 

Buying which emerged in late trade mainly acted as saving grace for domestic equity markets and helped domestic gauges to re-conquer their crucial 7,550 on Nifty and 25,650 on Sensex bastions. Some comfort also came after Society of Indian Automobile Manufacturers (SIAM) reported that domestic passenger car sales grew by 3.08% to 1,48,577 units last month as compared with 1,44,132 units in May 2013. Moreover, total two-wheeler sales during the month grew by 16.3% to 14, 02,830 units from 12, 06,173 units in the same period of the previous year. 

Some support also came from report that FIIs bought shares worth a net Rs 536.68 crore on June 9. Meanwhile, stocks related to software and technology counters edged higher on the back of depreciation in rupee against dollar. Moreover, FMCG stocks, which lost steam after Indian Meteorological Department (IMD) forecasted rains to be below normal this year as the chances of El Nino occurring during monsoon being very high, too recovered by the end of trade. 

On the flip side, shares of public sector undertaking (PSU) banks edged lower on profit booking. Additionally, fertilizer sector stocks witnessed selling as it has been reported that there is still no proposal to increase urea prices. There will be some buzz in infra stocks on report that the Ministry of Environment, Forests and Climate Change is in talks with at least seven States, to discuss pending infrastructure projects. 

Nifty ended slightly higher to end above its psychological 7,650 support level, while Sensex edged marginally higher to regain the psychological 25,650 mark. The broader markets too pared most of their initial losses and ended the session mixed. The market breadth remained in favour of advances, as there were 1834 shares on the gaining side against 1272 shares on the losing side while 88 shares remain unchanged. 

Top gainers on the Sensex were Cipla up by 2.73%, Infosys up by 2.76%, Wipro up by 2.73%, TCS up by 1.98% and Coal India up by 1.78%. While BHEL down by 2.87%, ONGC down by 1.74%, Tata Steel down by 2.60%, Hero MotoCorp down by 2.32% and SSLT down by 2.29% were the top losers in the index. 

On the BSE Sectoral front, Consumer Durables up by 3.55%, IT up by 2.32%, TECk up by 1.98%, Healthcare Index up by 1.97% and FMCG up by 0.12% were the top gainers, while Realty down by 2.96%, PSU down by 1.28%, Oil and Gas down by 0.96%, Capital Goods down by 0.90% and Infrastructure down by 0.90% were the only loser in the space. 

TECHNICAL PARAMETERS OF NIFTY: 

Today, RSI was at 81(overbought), MACD positive above signal line; India VIX was at 17~. Nifty still above all its moving averages like 5 DMA (7554), 20 DMA (7344), 50 DMA (6990) & 200 DMA( 6322) which all indicate that market may attract profit booking at higher levels in selected stocks but the over all trend remains up in the medium to long term. 

Market summary of the day : 09/06/2014

Jubilation continued on Dalal Street with both the frontline indices snapping the session above their psychological 25,550 (Sensex) and 7,650 (Nifty) levels, ending at fresh all time closing high levels on firm global cues coupled with hopes of wide-ranging reforms by the new government. Boisterous benchmarks once again showcased an enthusiastic performance with investors getting support from report that FIIs bought shares worth a net Rs 1283.04 crore on Friday. 

Some support also came after President Pranab Mukherjee in a joint session of parliament said that the new government will pursue a broad economic reform agenda focused on job creation through public and private investment that also makes containing inflation its top priority. Some comfort also came from Minister of Commerce Nirmala Sitharaman’s statement that the rising Current Account Deficit (CAD) and galloping prices are the issues which will be tackled on an urgent basis by the government and Finance Minister will announce important measures to reduce the CAD and curb rising prices. 

Supportive cues from US markets provided lead to local markets and sentiments remained up-beat on getting good jobs data on Friday, while the unemployment rate held steady, lower than expected. Asian markets ended mostly in the green on the back of better-than-expected Chinese exports data. Meanwhile, Japanese Nikkei edged higher after the country’s economy expanded by more than anticipated, 1.6% in the first quarter. European counters too traded mostly in the green in early deals on Monday. 

Back home, there was broad based buying witnessed in the markets and apart from the blue chips, the broader markets too equally participated in the rally. On the currency front, the RBI was spotted buying dollars via state-run banks starting around 58.99-59.00, continuing its heavy intervention to curb strength in the rupee. The rupee was trading at 59.08 per dollar at the time of equity markets closing as compared to today’s close of 59.17 per dollar. Meanwhile, shares of real estate companies edged higher after President in his joint address to the Parliament said that the government proposes proper housing to all citizens by 2022. 

Stocks related to railway such as Texmaco Rail, Kalindee Rail, Titagarh Wagons, Kernex Microsystems and Hind Rectifiers remained on buyers’ radar after Mukherjee said that the government will launch a diamond quadrilateral project of high-speed trains. Fertilizer stocks, RCF, Chambal fertilizers and Tata Chemicals were on investor’s radar after reports suggested of Government planning urea price hike to curb fertiliser subsidies. 

Nifty surged by over seventy points to end comfortably above its psychological 7,650 support level, while Sensex surged over one hundred and eighty points to surpass the psychological 25,550 mark. The broader markets too traded jubilantly throughout the session and ended the session with a gain of around two percentage points. The market breadth remained in favour of advances, as there were 2307 shares on the gaining side against 778 shares on the losing side while 82 shares remain unchanged. 

Finally, Sensex soared by 183.75 points at 25580.21while Nifty settled at 7654.60, up by 71.20 points. BSE Mid cap index was up by 1.47%, while Small cap index up by 2.13%. 

The top gainers on the Sensex were, Bajaj Auto up by 5.48%, Coal India up by 5.22%, L&T up by 3.51%, Tata Power up by 2.53% and Tata Steel up by 2.49%. On the flip side, ONGC down by 2.26%, Hindustan Unilever down by 

1.24%, SBI down by 1.18%, Axis Bank down by 0.71%, and Infosys down by 0.66% were the top losers in the index. 

On the BSE Sectoral front Realty up by 5.61%, Capital Goods up by 2.33%, India Infrastructure Index up by 2.30%, Power up by 2.15% and Consumer Durables up by 1.82%, were the top gainers, while Oil & Gas down by 0.36% and Bankex down by 0.16% were the only loser in the space. 

TECHNICAL PARAMETERS OF NIFTY: 

 Today, RSI was at 82, MACD positive above signal line; India VIX was at 15~. Nifty closed above all its major moving averages like 5 DMA (7506), 20 DMA (7317), 50 DMA (6969) & 200 DMA (6311) which all indicate that markets in a strong bull run and we may see sector and stock churning but momentum may continue to be bullish. However, Investors need to be cautious at higher level for any fresh entry while trading position may be taken with very short term views only. 

MARKET SUMMARY FOR THE DAY: 26/05/2014

What looked as splendid session in morning deals, turned out to be merely a flat one amid volatility, as investors opted to cash out profits at higher levels ahead of key cabinet portfolio allocation that are likely to be announced Post swearing-in ceremony of the new government.

After a gap-up opening, benchmarks fervently gained from strength to strength to surpass their crucial 25,000 (Sensex) and 7,500 (Nifty) levels as sentiments remained up-beat on report that foreign institutional investors (FIIs) bought shares worth a net Rs 416.80 crore on May 23, 2014, as per provisional data from the stock exchanges.

Immense volatility was witnessed in last leg of trade and markets took U-turn with frontline gauges witnessing sharp selloff due to emergence of profit-booking in realty, power, consumer durables and oil & gas counters.

Though, domestic bourses staged smart recovery to end flat after hitting fresh intraday low in dying hour of trade. European Central Bank President Mario Draghi. Asian shares touched one-year high on Monday, tracking gains from the Wall Street and a decisive win for billionaire Petro Poroshenko in Ukraine's presidential election. Investors were also hoping for easing geopolitical risks after exit polls in Ukraine gave Poroshenko more than 55 per cent of the vote in the presidential election.

The NSE’s 50-share broadly followed index Nifty slipped by around ten points but managed to hold its psychological 7,350 support level, while Bombay Stock Exchange’s Sensitive Index -- Sensex rose by over twenty points to end

above its crucial 24,700 mark.

The broader markets, snapping their six days winning streak, ended the session with a cut of over two percent. The market breadth remained in favour of decliners, as there were 1,362 shares on the gaining side against 1,660 shares on the losing side while 108 shares remain unchange.

On the BSE Sectoral front, Auto up by 1.47%, IT up by 1.46%, Teck up by 0.81%, Capital Goods up by 0.56% and FMCG up by 0.23% were the top gainers, while Realty down by 5.22%, Power down by 2.94%, Consumer Durables down by 2.00%, Oil & Gas down by 1.55% and PSU down by 1.32% were the top losers in the space.

TECHNICAL PARAMETERS OF NIFTY:

Today, RSI was at 81MACD positive above signal line; India VIX was at 20~. Nifty closed above all of its moving averages like 5DMA (7306) 20 DMA (6990) 50 DMA (6791)200 DMA (6222) which all indicate that market is in strong bull run with huge fund flow from FIIs but investors may book some partial profit at these levels as market has seen a huge run up in the short span of time.

Market summary for the day: 14/05/2014

Snapping four days gaining streak, Indian equity indices witnessed consolidation with nifty closing absolutely flat, while Sensex ended in the red with a cut of around quarter a percent as investors opted to book profit ahead of final results of elections on May 16. 

A bout of volatility was witnessed during the session with key benchmark indices slipping into the red after opening in green. Sentiment remained down beat with OECD saying that India, China and other major emerging economies are expected to see weak growth even as momentum remains stable in the developed world. Investors’ sentiment also remained subdued as Consumer price inflation (CPI) numbers released on Monday showed that retail inflation rose from 8.3 per cent in March 2014 to 8.6 per cent in April 2014. 

Sluggish opening in European counters too dampened the sentiments. CAC, DAX and FTSE eased from multi-year highs in early deals and the euro licked its wounds after declining to a five-week low, as the focus shifted to an economic outlook from the Bank of England for clues on when UK interest rates will rise. Though, the Asian markets shut shop mostly in the green but Chinese market ended marginally in red after country’s central bank called on the biggest lenders to accelerate the granting of mortgages. 

Back home, selling in healthcare counters too dampened the sentiments, led by over three and a half percent fall in Dr Reddy’s Lab after reporting a lower than 15.6% year on year (yoy) drop in consolidated net profit at Rs 482 crore for the quarter ended March 31, 2014 (Q4FY14), mainly due to higher operating expenses. Meanwhile, shares of public sector oil marketing companies like BPCL, HPCL and IOC edged lower after oil prices extended gains in Asian trade. 

On the flip side, shares related to PSU banks viz. Bank of India, Punjab National Bank, Canara Bank, Union Bank of India, Andhra Bank, Allahabad Bank, State Bank of India, Bank of Baroda etc. edged higher after a committee appointed by RBI made some radical suggestions regarding the government’s control over nationalised banks. Moreover, shares of infrastructure and real estate companies remained on buyers’ radar amid expectations that a new government at the centre would give the much-needed thrust to economy recovery. 

Finally, BSE Sensex declined by 56.11 points to 23,815.12, while the CNX Nifty ended unchanged at 7,108.75.  On the BSE Sectoral front, Realty up by 4.32%, Metal up by 3.22%, Consumer Durables up by 2.28%, PSU up by 1.84% and Power up by 0.83% were the top gainers, while Oil & Gas down by 0.78%, Capital Goods down by 0.36%, IT down by 0.31%, Healthcare down by 0.30% and Auto down by 0.03% were the losers in the space. 

The top gainers of the Nifty were Bank of Baroda up by 9.60%, Jindal Steel & Power up by 6.51%, Tata Steel up by 5.95%, DLF up by 5.45% and NMDC up by 5.07%. On the other hand, Mahindra & Mahindra down by 3.67%, Dr. Reddy's Laboratories down by 3.48%, HDFC India down by 1.91%, Reliance Industries down by 1.74% and HDFC Bank down by 1.71% were the top losers. 

The European markets were trading in red, France's CAC 40 was down by 0.20%, Germany's DAX was down by 0.15% and United Kingdom's FTSE 100 was down by 0.13%. 

TECHNICAL PARAMETERS OF NIFTY: 

RSI was at 76, MACD positive above signal line; India VIX was at 32~. Today, Nifty closed above all of its moving averages like 5DMA (6950), 20 DMA (6795), 50 DMA (6645), 200 DMA (6168) which all indicate that market is in strong bull run with huge fund flow from FIIs but investors may book some partial profit at these levels as market has seen a huge run up in the short span of time. 

Market summary of the day: 13/05/2014

Extending their gaining streak for the fourth straight session, Indian equity markets scaled fresh all time closing high levels, as exit polls predicted that the Modi-led NDA is set to cross the magic figure of 272 in the just-concluded elections. Hectic buying activity in blue-chip stocks during the session too drove the markets higher, with frontline gauges ending at their all time closing high levels of 23,850 (Sensex) and 7,100 (Nifty). Meanwhile, rally at Dalal Street also saw participation of broader indices, which traded in-line with larger peers, ending with profit of around one and a half percent.

At one point of time Sensex surpassed its crucial 24,000 mark, but profit booking dragged the market below that level. Some cautiousness too was witnessed in the markets on account of weak set of economic data. The Industrial production contracted for the second month running in March, while consumer inflation accelerated to a three-month high in April. IIP contacted 0.5% in March, compared with a 1.8% decline in February, while CPI inflation accelerated to 8.59% in April from 8.31% in March. But, overall sentiments remained up-beat on report that overseas investors put in Rs 1,200 crore into equities, taking their two-day investment tally to nearly Rs 2,500 crore ($420 million) in the last session.

On the global front, shares in Europe firmed up, tracking solid gains in US equities and driven by upbeat earnings from large corporate in the region. Moreover, the Asian markets ended mostly in the green as investors shrugged off tensions in Ukraine. Though, Chinese markets ended slightly lower after the nation’s Industrial Production fell to 8.7%, from 8.8% in the preceding month. Chinese Retail Sales too fell to an annual rate of 11.9% from 12.2% in the preceding month.

Back home, there was broad based buying witnessed in the markets and apart from the blue chips, the broader markets too participated strongly in the rally. Appreciation in Indian rupee too supported the sentiments. Meanwhile, stocks related to Capital goods counters edged higher on hopes that the growth focused BJP-led NDA would unveil infrastructure reforms that would ultimately lead to new order inflows. Additionally, stocks related to public sector oil marketing companies (OMCs) viz. BPCL, HPCL and IOC edged higher as diesel prices were on Monday hiked by Rs 1.09 a litre, excluding state levies.

The market breadth remained in favour of advances, as there were 1,623 shares on the gaining side against 1,268 shares on the losing side.  Finally, the BSE Sensex surged by 320.23 points or 1.36%, to 23871.23, while the CNX Nifty gained 94.50 points or 1.35% to 7,108.75.

The top gainers on the Sensex were BHEL up by 10.25%, Hero MotoCorp up by 5.39%, ONGC up by 3.81%, Tata Power up by 3.62% and Wipro up by 3.36%. While Dr Reddys Lab down by 3.99%, Tata Motors down by 0.94%, Hindalco Inds down by 0.84%, HDFC Bank down by 0.60% and Sun Pharma down by 0.47% were the top losers in the index. On the BSE Sectoral front, Power up by 3.26%, Consumer Durables up by 2.92%, Oil & Gas up by 2.84%, IT up by 2.59% and Capital Goods up by 2.51% were the top gainers, while Healthcare down by 0.45% was the only loser in the space.

TECHNICAL PARAMETERS OF NIFTY:

RSI was at 76, MACD positive above signal line; India VIX was at 32~. Today, Nifty closed above all of its moving averages like 5DMA (6859), 20 DMA (6780), 50 DMA (6627), 200 DMA (6163) which all indicate that market is in strong bull run with huge fund flow from FIIs and Traders but investors need to book some partial profit at these levels as market has seen a huge run up in the short span of time.

Market Summary for the day : 12/05/2014

Both Nifty and Sensex surged to their second consecutive record high as blue-chips such as Larsen & Toubro jumped on rising hopes that exit polls would show the Bharatiya Janata Party and its allies winning a majority in the elections.  After scaling all-time closing highs in previous session, Indian equity benchmarks extended their jubilation with bull taking full control over the session ahead of exit poll results. Sentiments remained up-beat since beginning, as key bourses made a decent start and there appeared not even an iota of profit booking in the session with benchmarks fervently gaining strength to strength as investors continued hunt for fundamentally strong stocks. 

Frontline indices not only extended their rally for third straight day but also recorded their fresh all time closing high which they had witnessed never before, settling comfortably above their crucial 7,000 (Nifty) and 23,500 (Sensex) bastions as sentiments remained sanguine at the prospect of a Narendra Modi-led, stable government after May 16. The exit polls are expected to trickle in post 6:30 pm today.  Some support also came after India’s trade deficit contracted to $10.01 billion in April as compared to $10.51 billion in the previous month and $17.67 billion reported in the corresponding month of the previous year. Further, FIIs remaining net buyers in Indian equities and buying shares worth a net Rs 1268.78 crore in the previous session, too aided the sentiments. Though, investors remained little cautious ahead of Consumer Price Inflation (CPI) data and Industrial Production data due later in the session, the latest one’s before the RBI’s next monetary policy on June 3. While, CPI is estimated to have quickened to 8.48 per cent in April from 8.31 per cent in March, factory output in March probably contracted for the fifth time in six months. 

Back home, there was broad based buying witnessed in the markets and apart from the blue chips, the broader markets too participated in the rally. Meanwhile, public sector oil marketing companies (OMCs) viz. BPCL, HPCL and IOC all edged higher on report of hiking diesel prices within 24 hours. 

Broader markets too traded with traction and ended the session with gain of over half a percent. The market breadth remained in favour of decliners, as there were 1,408 shares on the gaining side against 1,440 shares on the losing side while 165 shares remain unchanged. 

Finally, Sensex rushed by 556.77 points or 2.42%, to 23551.00, while the CNX Nifty surged by 155.45 points or 2.27% to 7,014.25. 

The top gainers on the Sensex were Coal India up by 7.04%, HDFC Bank up by 4.59%, Tata Motors up by 4.09%,Hero MotoCorp up by 4.01% and Maruti Suzuki up by 3.99%. While Sun Pharma down by 1.73%, Cipla down by 1.26%, Hindalco Inds down by 0.52%, Wipro down by 0.14% and TCS down by 0.07% were the only losers in the index. 

On the BSE Sectoral front, PSU up by 3.18%, Oil & Gas up by 3.07%, Power up by 2.98%, Auto up by 2.88% and Capital Goods up by 2.78% were the top gainers, while Healthcare down by 0.81% was the only loser in the space. 

Globally, Dow and NASDAQ futures started on a mixed note at this evening. SGX Nifty was trading positive at this evening. 

TECHNICAL PARAMETERS OF NIFTY: 

RSI was at 73, MACD positive above signal line; India VIX was at 37~ which all Indicate that market are in down trend for immediate short term.  Today, Nifty closed above all of its 5DMA (6780), 20 DMA (6764), 50 DMA (6608), 200 DMA (6157) which all indicate that market is in strong bull run with huge fund flow from FIIs and Traders.

Market Summary of the day : 08/05/2014

After slumping to 6 weeks low level in previous trading session, domestic equity markets just about consolidated with benchmarks ending a little higher over one tenth of a percent from previous close as caution ahead of the outcome of the national elections next week, mostly kept market-participants on tenterhooks.  Nevertheless, buying in index heavyweight stocks such as L&T and ICICI Bank among others, mainly kept the momentum positive for Indian equity markets, while some amount of gains also triggered by dovish comments from US Federal Reserve Chair Janet Yellen that whetted global risk appetite.

In the extremely volatile session of trade, bargain buying activities got markets trading firmly in green for the first part of the session, while profit-booking reversed all the gains in the second half, nevertheless bit of recovery which was witnessed during the dying hours of trade mainly prevented a negative close for markets.  Hope that BJP led NDA will be able to form the next government at the centre with support from some regional parties after Lok Sabha elections, mainly underpinned select investors to go long on equities during last hour of trade.

At close, broader indices made an indecisive close; with Midcap index going home with cut of over 0.15% and Small-cap index settling higher with the same quantum.  On the global front, Asian shares got a lift from dovish comments by the U.S. Federal Reserve chief and upbeat Chinese trade data that suggested some signs of stabilisation in Chinese economy. Additionally, risk assets were also underpinned by signs of easing tensions in Ukraine after Russian President Vladimir Putin called on pro-Moscow separatists to postpone a secession vote.

Back home, majority of the sectoral indices on BSE settled in the favour of green, with prominent gainers beingthe stocks from Consumer Durables, Banking and Auto counters that witnessed maximum interest. On the flip side, stocks from Realty, Fast Moving Consumer Goods and Healthcare counters were the top losers which witnessed maximum drubbing. Meanwhile, Metal rose after latest data from China showed exports and imports unexpectedly rose in April. Sesa Sterlite, Hindalco Industries Hindustan Zinc, Bhushan Steel, NMDC and Hindustan Copper gained in the range of 0.25%-2.50% each. Additionally, IT stocks also bounced back after previous few sessions’ drubbing after Nasdaq-listed software giant, Cognizant reported a 19.9% rise in its first quarter earnings for the quarter ending March to $2.42 billion.

The market breadth on the BSE ended negative; advances and declining stocks were in a ratio of 1328: 1404, while 136 scrips remained unchanged.  BSE Sensex gained 20.14 points and Nifty gained 7.30 points. With Consumer Durables up by 1.30%, Bankex up by 0.74%, Auto up by 0.58% , Capital Goods up by 0.39% and IT up by 0.24% were the gainers while, Realty down by 0.92%, FMCG down by 0.80%, Health Care down by 0.32%, Oil & Gas down by 0.21% and PSU down by 0.14% were the top losers in the space.  The major gainers of the Nifty were BHEL up 3.76%, HCL Tech up by 1.83%, Tata Motors up by 1.72%, Power Grid up by 1.66% and Hindalco up by 1.41%. The key losers were BPCL down by 1.85%, Hero Moto Co down by 1.36%, ITC down by 1.34%, Lupin down by 1.18% and Bharti Airtel down by 0.96%.  European markets were trading in green; France’s CAC 40 was up by 00.64%, UK’s FTSE 100 was up by 0.53% and Germany’s DAX was up by 0.65%.

TECHNICAL INDICATOR OF NIFTY

Today, RSI was at 47, MACD positive above signal line; India VIX was at 34~ which all Indicate that nifty is in long term positive trend but we may see some profit booking ahead of major event-Election results outcome. Nifty closed below its 5 DMA (6684) & 20 DMA (6740) but still above 50 DMA (6577)

and 200 DMA (6148) which all indicate that medium and long term trend is still intact.