The Indian benchmarks ended the day on a positive note on November 29, 2013. After a strong expiry yesterday, buying momentum in markets continued as elections date come closer. Big bets were being taken in market on expectation of BJPs victory. This is getting clearly reflected in side markets & beta names where buying pace has further accelerated. Bank Nifty outperformed sharply while FMCG, Pharma & IT continued to underperform since past few days. BSE Midcap recovered back to previous high after having survived & reversed from 200DMA two weeks back. Nifty spread opened at+60points but dropped in the day to +45points. PSU Bank witnessed stronger buying than private banks. INR was seen taking support at 50DMA from where it had reversed last time. Tata Motors witnessed some supply at its previous highs. LT surged to new 6 month’s high. NMDC held 200DMA & reversed sharply. Overall volumes dropped sharply in markets. The Sensex closed up 257.02 points or 1.25 percent at 20791.93. The Nifty ended at 6176.10, up 84.25 points or 1.38 percent.
Further, the market breadth closed positive as seven stocks were seen advancing against five declining stocks.
Precious Metals are trading higher with the most actively traded Gold contract is trading at 1246.90, higher by 0.74% and Silver is up by 1.11% at 19.85 an ounce. Intraday outlook remains positive for gold and silver and we expect price to gain in the coming hours. Base metals prices on LME are trading in green with Copper trading at 7052.50, higher by 0.33% or 23.50 points, followed by all other metals which are gaining around 0.20% each. Near term outlook remains positive for Copper and other base metals. Crude Oil and Natural Gas prices on NYM are trading higher with Crude Oil front month contract is trading at 92.61, up by 31 cents or 0.35% while Natural Gas prices are at 3.92, up by 0.80%. Intraday bias turn positive for Crude Oil and Natural Gas.
The market is on strong footing in morning trade with the Sensex climbing over 200 points on the back of heavyweights and financials. At the time of market opening The Sensex was up by 101.86 points at 20636.77, and the Nifty was up 31.80 points at 6,123.65. Indian rupee opened with a marginal gain of 11 paise at 62.30 per dollar on Friday as against previous day's closing of 62.41. Asian markets were trading mixed on Friday. China's Shanghai Composite was flat at 2,218.89. US Banks were closed yesterday in observance of Thanksgiving day. On BSE, Mid cap and Small cap are trading in green with a gain of 0.94% and 0.83% respectively. On sectoral front, Bankex is the top gainer to add 2.15% while Auto is the least gainer to increase 0.63%.
Precious metals are trading higher today with Gold trading at 1242.0, up by 0.35% and Silver is at 19.70, adding 0.30% at the time of writing this. We expect prices to trade in a range for the day with a negative bias. Base metals prices are trading nominally lower with Cooper trading at 7009.0, down by 0.05% with an important support at 7000.0 and a break below this level will lead for further selling in the metal. All other metals are also trading in red, following Copper. Crude oil and Natural Gas on NYMEX are trading lower with the front month oil contract is at 92.19, -0.12% and Natural Gas is at 3.87, lower by 0.46%. Intraday bias remains negative for both Crude oil and Natural Gas. US Banks are closed in observance of Thanksgiving Day.
The market has opened November series expiry on a strong note. The Sensex is up 126.39 points at 20546.65, and the Nifty is up 37.45 points at 6094.55. Indian rupee fell 25 paise in early trade to 62.39 against the US dollar on Thursday. It closed at 62.14 per dollar in previous session. Weakness in dollar index and strength in domestic equities amid expiry session is also likely to support rupee. Global scenario remains positive with US markets gained amid a positive reading on consumer confidence spreading cheer just before the holiday-shopping season. On BSE, Midcap is higher by 0.81% and Small Cap is adding 0.62% as we write this. On sectoral front, Bankex is the top performer to gain 1.35% while IT is the worst performing sector to ease 0.20%. Further the market breath remains positive with 880 shares are seen advancing against 315 declining shares.
Key benchmark indices ended a tad lower for the day in what was a lackluster trading session. The BSE Sensex closed down by 5 points at 20420 and CNX Nifty shut shop down by 2 points at 6057. The market breadth, indicating the overall health of the market, was negative. In Nifty50 the advance to decline stood at 21 advances to 29 declines, with TATAMOTORS gaining the most (up by 2.31%) & JP Associate the top loser (down by 3.05%). Among sectoral indices in NSE, CNX Auto is the top gainer (up by 1.0%) whereas CNXIT, CNXINFRA & Realty were the laggards.
Precious metals are trading positive today with the actively traded Gold contract is at 1247.30, higher by half a percent, followed by Silver which is up by 0.40% at 19.92 an ounce. Intraday view remains negative and we can see prices drifting lower in the coming hours. Crude Oil and Natural Gas on NYM are trading mixed with Crude Oil trading at 93.39, down by 29 cents and Natural Gas is at 3.86, +0.05% as we write this. Base metals are trading in green today, with Nickel gaining around 0.40% or 50 points at 13494.0, followed by all other metals. The intraday outlook remains neutral for Base metals.
Data to Watch: US Jobless Claims, Core Durable Goods Orders.
The market continued to remain volatile in early Wednesday morning trade, after witnessing a sell-off in the previous session. The volatility is also on the back of November series expiry on Thursday. The Sensex is down 7.95 points at 20,417.07, and the Nifty is down 3.90 points at 6,055.20. The rupee kicked-off trade at 62.45 per dollar on Wednesday, up 5 paise compared to previous close of 62.50 per dollar. On International front, the Dow ended flat on Tuesday, still closing at a record high and the Nasdaq cleared 4,000 for the first time in 13 years lifted by better than expected housing data. However, mixed earnings reports dragged the European markets lower. On BSE, Midcap is higher by 0.36% and Smallcap is up by 0.16%. n Sectoral front, Auto is the best performer to gain 0.65% while Bankex is the worst trading counter to ease 0.28%. Further the market breath remains positive with 906 shares are seen advancing against 731 declining shares.
The Indian benchmarks ended the day on a negative note on November 26, 2013. The indexes opened weaker and traded in a range throughout the day. However, towards the end, they closed with a negative bias. The rally fuelled by Iran nuke deal came to a grinding halt. The Sensex ended down 180.06 points at 20425.02, and the Nifty ended at 6059.10, down 56.25 points. The midcap index and the small cap index closed in red with the loss of quarter of a percentage point and eight tens of a percentage point respectively. Benchmark indices ended lower weighed down by Banking, FMCG and Oil and Gas shares. Investors booked profits at higher levels after sharp gains yesterday following the Iran deal. Lack of cues from global peers also pushed the investors on sidelines. Auto and Capital Goods stocks were the only leading pack of gainers. Oil held near USD 111 a barrel on Tuesday as investors judged the historic deal between Iran and world powers would bring no immediate increase in crude oil supplies from the OPEC member. The Reserve Bank of India on Tuesday allowed banks to treat loans given to medium manufacturing enterprises after November 13 as priority sector advance, in its efforts to provide enhanced liquidity support to the medium and small enterprises.
Further, the market breadth closed negative as five stocks were seen advancing against seven declining stocks.
Bullion prices are trading in green today on back of short covering after sharp decline in the previous sessions. The most actively traded Gold is at 1253.0, +12 points or a percent and Silver surged 1.27% or 24 cents at 20.13 an ounce. The intraday view remains negative and we can see prices retreating from the current level in the evening hours. Support for Gold comes at 1238.0 and 1225.0 and that for Silver is at 19.75 an ounce. With an exception of LME Zinc all other metals are trading higher at the time of writing this on LME. Copper is at 7106.0, +6 points and we expect it to gain further in the coming sessions. Other base metals are also likely to trade similarly, taking cue from Copper. Crude oil and Natural Gas prices on NYMEX are at 94.57 and 3.87, higher by 0.57% and 0.98% respectively. Intraday view remains positive for Crude Oil and Natural gas.
After a strong run up in yesterday's trade, the market has opened tepidly on Tuesday. The Sensex is down 5.54 points at 20599.54, and the Nifty down 16.10 points at 6099.25. The rupee gained 5 paise to 62.45 per dollar in early trade on Tuesday as against previous day's close of 62.50. Among the global markets, US stocks wavered on Monday, with benchmark indexes backing off milestones that lifted the Nasdaq composite above 4,000 for the first time in 13 years, as Wall Street pondered an unexpected drop in pending home sales in October and an agreement by Iran to limit its nuclear programme. On BSE, Midcap is trading up by 0.27% and Small cap is up by 0.16%. On Sectoral front, Metal is higher by 0.73% while FMCG is the worst performing sector to eases 0.69%.
The Indian benchmarks ended the day on a positive note on November 25, 2013. Strong INR and slide in crude brought a big round of rally in markets largely in Banks. Bank Nifty had managed to hold its 50DMA in last week’s sell-off from where it showed sharp rally which halted at 20DMA. Bank Nifty posted the biggest single day return in a month. Bank Nifty is squeezed between 20 & 50DMA since last two weeks. Besides Banks, other Beta sectors like Cap Goods & Realty saw strong buying. LT rallied back to four month’s high. Oil stocks rallied sharply after crude corrected on Iran deal. All defensive sectors were laggards viz Pharma, IT & FMCG. IT showed biggest underperformance in a month. BSE IT is taking resistance at 20DMA since last few days. BSE FMCG is still negotiating with its 200DMA since past few days. ITC is trading below 200DMA while Hind Unilever is managing to hold since past two days. The 30-share BSE benchmark snapped three-day losing streak, rising 387.69 points or 1.92 percent to close at 20,605.08 on broad based buying. The Nifty rallied 119.90 points or 2 percent to 6,115.35.BSE Midcap had taken support at 20DMA on Friday from where it rallied sharply.
Further, the market breadth closed positive as seven stocks were seen advancing against five declining stocks.
Precious metals are trading lower since morning as Iran agrees with western countries to limit its nuclear program which reduce the demand for safe heavens. Actively traded Gold contract tested a low of 1225.70 before settling at 1230.70, eased 13.30 points or 1.10% per an ounce while front month Silver futures slashed more than a percent or 0.16 points to trade at 19.665 an ounce. With the exception of Nickel, Base metals area trading lower since morning with Copper trading at 7083.75, down 8.25 points or 0.12% after having tested a low of 7051.25 per metric ton while Zinc tested a low of 1896.00 before settling at 1903.50, down 6.50 points or 0.34%. WTI Crude Oil is plunging over 1.20% or 1.10 points to trade at 93.77 after having tested a low of 93.29 per barrel while Natural Gas is extending its last session’s gain to trade at 3.825, up 0.06 points or 1.51% after having tested a high of 3.849 per mmbtu.
The market has started the week on a positive note with Sensex up 168.49 points at 20385.88, and the Nifty opened higher by 41.65 points at 6037.10, today. The rupee opened higher by 21 paise at 62.65 per dollar on Monday as against Friday's closing of 62.86 per dollar. The Dow was up 0.4 percent, Nasdaq up 0.6 percent, S&P 500 up 0.5 percent on Friday with S&P 500 finishing record high above1800 and is now up 27 percent this year. On BSE, Midcap and Smallcap are trading higher by a percent while on sectoral front, all sectors are rading in green with Bankex is top gainer to increase 2.73% while on the other hand; It is the least gainer to add 0.22%. Further the market breath stands positive with 1273 shares are seen advancing against 415 declining shares.
The Indian benchmarks ended the day on a flat note on November 22, 2013. Indexes remained under selling pressure after starting on a firmer note. The Sensex ended down 11.66 points at 20217.39. The Nifty ended below 6000, at 5995.45 down 3.60 points. Stocks from the engineering, oil & gas and consumer durables spaces were amongst the top performers today, while those from the automobile and realty sectors were amongst the least favoured. Midcaps ended the day with marginal losses where, BSE Mid Cap index down by about 0.1% while smallcaps ended higher, with the BSE Small Cap index closing with gains of about 0.1%.Oil slipped below USD 110 a barrel but was on track to end higher for the second week running, with investors awaiting the outcome of talks on Iran's nuclear programme. Gold premiums in India steadied on Friday on scarcity of stocks or domestic consumption despite muted demand, amid steady prices in the domestic market. The RBI was suspected to have sold dollars via state-run banks starting at around 62.93 rupee levels in a bid to support the local currency.
Precious metals are trading marginally higher with Gold trading up by a dollar at 1244.80 and Silver is up by 2 cents at 19.96 an ounce. The overall view remains negative for precious metals and we expect prices to drift lower in the coming hours. Base metals on LME are trading in green with Aluminum is at 1787.0, up by 0.13% and Copper is at 7075.0, higher by half a percent as we write this. Intraday bias remains positive for Base metals. Crude Oil prices on NYM are trading down at 95.15, -30 cents while Natural Gas prices are up by 0.80% at 3.73. We expect Crude oil prices to remain lower for the day while bias for Natural Gas remains positive. On data front, there are no major releases today that can set short term direction for prices.
The Indian equity market started the day on a positive note after declining sharply in last few sessions. The Nifty Index was at 6028.0, adding 30 points and Sensex was at 20231.0, up by 90 points at the time of market opening. Indian rupee opened higher at 62.89 per dollar on Friday as against previous day's closing of 62.93 per dollar. Better-than-expected US jobs data is positive for the dollar and could put a mild weakening bias to rupee. The US markets rallied with the Dow posting its first finish above 16,000, as the number of Americans filing for jobless benefits declined to a near two-month low. Halting its longest-running losing streak in eight weeks, the S&P 500 too inched closer to 1800. And the Nasdaq-led the charge with gains of 1.20%. On BSE, midcap is up by 0.73% and smallcap is higher by 0.80%. On sectoral front, Consumer durable is higher by 1.18% along with Capital Goods which is similarly higher while on the other hand, the worst performing sector is Auto - the only sector to trade in red, is down by 0.28%. Further the market breath stands positive with 841 shares are seen advancing against 309 declining shares.
The Indian benchmarks ended on a negative note on November 21, 2013. Indexes opened with a small gap down and consistently inched downward throughout the day. Selling was seen on large volumes after Nifty futures broke below 50DMA. Nifty futures have broken below 50DMA for the first time since 10th September, when it had broken higher at 5700 levels. This is largest single day slide since 3rd September. After a long time, 48 of 50 Nifty stocks closed in red. FMCG index sharply cracked below 200DMA & BSE health care index broke 50DMA after breaking higher in Aug'13. ITC broke to two month low. Bank Nifty futures however held its 50DMA where slide halted today. Selling was broad based across all sectors although FMCG, Pharma & IT outperformed in the slide. INR had held 20DMA on downside & reversed from there. Hindustan Unilever is now trading close to important support of 200DMA. Side markets still continue to outperform hence there is no sense of panic visible yet. The Sensex ended down 406.08 points or 1.97 percent at 20229. The Nifty closed at 5999.05, down 123.85 points or 2.02 percent.
Further, the market breadth closed considerably negative as three stocks were seen advancing against five declining stocks.
Precious metals are trading lower today with the most actively traded Gold contract is at 1245.0, down by a percent or 12 points and Silver is at 19.90, down by 0.84%, as we write this. Prices on domestic market are trading in a tight range after opening lower today. Gold is at 30018.0, -50 points and Silver is at 44840.0, lower by 150 points. The near term view remains negative and we expect prices to remain lower for the day. With exception of 3-month Copper all other base metals on LME are trading in red today. Copper is at 6991.50, up by 13 points while Lead is at 2084.0, down by half a percent. Crude Oil and Natural Gas on NYM are trading mixed with Crude Oil trading down by 0.18% at 93.69 and Natural Gas is at 3.68, +0.19%.
A sell-off gripped bourses in late trade. The 50-unit CNX Nifty hit its lowest level this week to close at 6123 down by 80 points (1.6%), BSE SENSEX shut shop down by 256 points at 20635. The market breadth, indicating the overall health of the market, turned negative from positive in late trade. In Nifty50 stocks the advance to decline stood at 4 advances to 46 declines indicating the amount of pessimism built in late hours of trade. Barring CNX Metal index (which closed almost flat at 0.10%) all other sectoral indices in NSE closed in the red, with PSU Bank, Bank Nifty and Media worst hit.
Precious metals on COMEX are trading almost flat as investors opted to stay on the sidelines ahead of the release of FOMC meeting minutes on Thursday at 12.30AM. Actively traded Gold contract is trading at 1270.80, down 2.70 points or 0.23% while front month Silver is trading flat at 20.34 an ounce. With the exception of Nickel, Base Metals are trading slightly higher on LME with Copper trading at 6975.50, higher by 10.75 points after having tested a high of 7020.00 per metric ton. Nickel is losing 40 points or 0.29% to trade at 13590.00. WTI Crude Oil was trading higher in the earlier session but later on erased all its gains and trading in red at 93.24 as we write this. Front month Natural Gas is up 1.63% or 0.06 points or 3.61 per mmbtu.
The Indian benchmarks ended on a flat note on November 19, 2013. Indexes opened slightly weaker but traded in a range, while stock specific moves continued with full vigor. The stocks from the FMCG and Power sector faced the maximum selling pressures today. The Sensex ended up 40.08 points at 20890.82 and the Nifty closed gaining 14.35 points at 6203.35. The rupee was trading at Rs 62.05 to the dollar at the time of writing. The midcap index and the small cap index closed in green with the gain of half of a percentage point and almost one-third of a percentage point respectively. On the sectoral front, the indexes closed mixed. The Realty Index closed as the biggest gainer with the gain of one and half a percentage point. This was followed by the Capital Goods Index which closed with the gain of one and quarter of a percentage point. On the other hand the Consumer Durables Index closed as the biggest loser with the loss of more than two-third of a percentage point. Further, the market breadth closed neutral as one stock was seen advancing against each declining stock.
Precious metals are trading silent since morning after the last session’s steep decline and waiting for FOMC Meeting Minutes which will release on Thursday. Actively traded Gold contract is trading at 1274.20, up 1.90 points or 0.15% while front month Silver futures down 0.18% to trade at 20.33 an ounce. Base metals are trading mixed on LME after the previous day’s sharp decline. 3-month Copper is losing 0.22% or 15.50 points to trade at 6946.00 after having tested a low of 6910.00 per metric ton while rest of the metals are trading near to its previous close. WTI Crude Oil is trading silent at 92.89, down 0.14 points while Natural Gas is trading at 3.623 with a positive bias, up 0.17% per mmBtu.
The Indian share market indices have opened the day on a positive note but were trading mixed. This was on the back of international markets. U.S. stocks turned mostly negative on Monday, with the S&P 500 and Dow industrials retreating from record highs, after activist investor Carl Icahn said he is "very cautious" on equities. Asian equity markets were mixed on Tuesday following a negative lead from Wall Street overnight and caution over the duration of the Federal Reserve's stimulus program. The Sensex today is up by around 35 points (0.2%), while the NSE-Nifty is up by around 12 points (0.2%) at the time of writing this. Mid and small cap stocks are also trading in the green with the BSE Mid Cap and BSE Small Cap indices up by around 0.5% and 0.2% respectively. The rupee is currently trading at Rs 62.22 to the US dollar. The sectoral indices have opened on a mixed note with the stocks in the metal and energy space leading the gains. However, the stocks in software space were leading the losses.
The Sensex and the Nifty rose more than 2 percent today, to mark their biggest single-day gain in a month, tracking gains in other Asian markets, cheered by the prospect of extended stimulus in the United States and economic reform in China. CNX Nifty closed at 6189 up by 133 points (2.19%), BSE Sensex closed at 20851 up by 451 points.
The market breadth, indicating the overall health of the market, was positive. In Nifty50 stocks the advance to decline stood at 43 advances to 6 declines. In NSE & BSE all the sectoral indices closed in the green. Bank Nifty is the top sectoral gainer ( up over 3%) followed by FMCG & CNX Realty.
Precious metals on COMEX are trading lower since morning with Gold trading at 1283.70, down 3.70 points or 0.30% while front month Silver futures eased around half a percent or 0.08 points to trade at 20.645 an ounce. On LME, Base metals are trading lower since morning and extending its last week’s losses. 3-month Aluminum is leading the metals group, down 0.32% or 5.75 points to trade at 1787.25 after having tested a low of 1783.00 while Copper is down 17.75 points or 0.25% to trade at 6992.50 per metric ton. Energy prices on NYMEX are trading mixed as Crude Oil is trading lower and extending its last week losses to trade at 93.62, lower by 0.22 points per barrel while Natural Gas is up 0.71% or 0.026 points to trade at 3.686 per mmbtu.
Key benchmark indices edged higher after seven consecutive days of decline on easing fears of near-term tapering by the U.S. Federal Reserve while domestic bonds gain on RBI's open market operations announcement. Earlier Federal Reserve chairman nominee Janet Yellen signaled stimulus will be maintained until the US economy improves, which led to the improvement in global sentiments. However, market gave up strong gains witnessed in early deals after the latest data showed that the wholesale inflation quickened in October. CNX Nifty closed up over 1.1 %( 66.55) at 6056. The market breadth, indicating the overall health of the market, was positive. In Nifty50 stocks the advance to decline stood at 38 advance to 11 declines. Among the sectoral indices Auto, Banking, Realty were the clear outperformers whereas the defensive bet like Pharma, CNXIT & FMCG were the laggards in today’s market.
Precious metals on COMEX are trading higher since morning as Federal Reserve’s chairman nominee Janet Yellen backed stimulus until the economy and labor market improves. Actively traded Gold contract rallied to a high of 1288.20 before settling at 1283.70, up 1.21% or 15.30 points while front month Silver futures surged 1.56% or 0.32 points to trade at 20.76 after having tested a high of 20.885 an ounce. WTI Crude Oil is trading silent at 93.81 before the release of US Crude Oil Inventories report while Natural Gas is losing almost a percent or 0.03 points to trade at 3.537 per mmBtu. Base metals prices on LME were trading lower but later recovered their losses and are trading almost flat as we write this. 3-month Copper tested a low of 6965.00 before settling at 6987.50 while Nickel is down 28 points or 0.20% to trade at 13755.00 per metric ton.
The market extended gains in morning trade as the Sensex is up 308.48 points or 1.53 percent at 20502.88, and the Nifty is up 92.90 points or 1.55 percent at 6082.50. Axis Bank is the leader among Nifty 50 gainers, rallying nearly 6 percent followed by ICICI Bank and IndusInd Bank with 3.7 percent gains. Rate hike fears after rise in CPI inflation and uncertainty over Fed tapering spooked the market in last seven sessions. WPI inflation for October will be announced today, which is expected to be around 7 percent compared to 6.46 percent in September. Indian rupee gained 16 paise in early trade today at 63.14 per dollar as against previous day's closing of 63.30 per dollar. On the global front, Asian markets gained between 0.5-1 percent as investors cheered stimulus-supportive remarks from Federal Reserve Vice Chairman Janet Yellen, released after the close of US markets. On BSE, Midcap and Small cap gained almost 1.5% as we write this. On Sectoral front, Bnakex is the out performer to gain 3%, followed by all others. The list gainer is IT which is adding 0.34%. Further the market breath remains positive with 907 shares are seen advancing against 220 declining shares.
The Indian benchmarks ended the day on a negative note on November 13, 2013.Despite the low acceptance of correction, Nifty continued to see selling for eighth day in row. Shorting pressure accelerated today pushing Nifty spread down to lowest in this expiry of 27points. However Nifty & Bank Nifty futures reached intermediate support of 50DMA where some shorts came to cover. Reports that RBI has called for a conference post market hours brought a small round of covering in Banks & strength in INR on expectation of some positive announcement. Importantly BSE Midcap slid below 200DMA which is also 20DMA & an important level to watch. Sustenance below this can create further panic in side markets. Banks continued to underperform for sixth day although quantum of underperformance was slowing. FMCG outperformed again marginally. Hind Unilever was close to 200DMA where some buying interest was visible. The outperformance in pharma continued for sixth day in row. BSE IT reached 20DMA. Sun Pharma spiked above 20DMA post strong numbers but again reversed lower. The 50-share NSE Nifty closed below the 6000-mark for the first time since October 8 at 5,989.60, down 28.45 points from previous close. The Sensex declined 87.51 points to 20,194.40.
Further, the market breadth closed negative as three stocks were seen advancing against four declining stocks.
Gold and Silver prices were trading lower in the first couple of hours but later on recovered and trading almost flat as we write this. Actively traded Gold contract tested a low of 1265 before settling at 1274.50, up 3.30 points or 0.26% while front month Silver is trading almost flat at 20.77 after having tested a low of 20.615 an ounce. Base metals prices are trading lower since morning and continued their last session’s steep decline on concerns that plans for broad reforms in China which could slow economic growth in the world's top copper consumer. 3-month Copper is trading near two months low at 7040.75, down 0.83% or 59.25 points followed buy rest of the metals. WTI Crude Oil is trading higher after the last night steep decline. Oil prices is up 0.27% or 0.25 points to trade at 93.29 while Natural Gas is trading at 3.633, up almost half a percent or 0.016 points per mmBtu.
The market has opened in negative terrain. The Sensex is down 13.70 points at 20268.21, and the Nifty is down 18.95 points at 5999.10. The Indian rupee continued its downtrend for the sixth consecutive session on Wednesday as it is heading towards 64 per dollar. The currency fell 19 paise in early trade to 63.90 per dollar as against previous day's closing of 63.71 per dollar. In the global space, the US markets ended lower on Tuesday after rising bond yields increased debate over how soon the Federal Reserve would start trimming its monetary stimulus. Dow shed 31 points and S&P 500 closed down by 4 points. Fed officials, however, offered diverging views, adding to the uncertainty about the outlook for their easy-money policies. On BSE, midcap is up by a meager 0.01% while small cap is down by 0.18% as we write this. On Sectoral front, Health care is the top performer to gain 0.87% while on down side realty is down by 0.62%. Further the market breath stands negative as 517 shares are seen advancing against 589 declining shares.
The Indian benchmarks ended the day on a negative note on November 12, 2013.The last few days sell-off which started with Banks has now started percolating into broader market with selling resuming in other beta names. Most prominent among them is Metal sector which witnessed selling pressure for second day after Sail & Hindalco disappointed on results. Most players are waiting for Tata Steel's results tomorrow to take a broader call on the sector. Market is agog with the expectations of strong results by Tata Steel. Sell-off in Auto also accelerated after Tata Motors results which were actually good. Banks continued to underperform in a big way with Bank Nifty/Nifty ratio breaking first support of 20DMA. Only INR related sectors viz- IT & Pharmaceuticals are isolated from sell-off. This is seventh day of negative close in Nifty. Side market outperformance continued; BSE Midcap now reached important support of 200DMA. INR continued to surge after breaking 50DMA. FMCG showed biggest single day outperformance v/s Nifty in almost a month. The Sensex slipped 209.05 points or 1.02 percent to 20,281.91 while the Nifty closed at one-month low of 6,018.05, down 60.75 points or 1 percent from previous close.
Further, the market breadth closed slightly negative as two stocks were seen advancing against three declining stocks.
Bullion prices are marginally today with Gold trading at 1278.20, down by 0.23% and Silver is at 21.13. Prices are likely to trade in a range with a negative bias for the day. An Important support for Gold comes at 1230.0 and that for Silver is at 20.70 an ounce. Crude Oil on NYM is at 94.43, down by 0.75% and Natural Gas is at 3.58, +0.31% as we write this. Bias for Crude Oil remains negative while Natural Gas prices may remain positive. Base Metals are also trading lower since morning. Three-month Copper is at 7144, -0.26% while Lead and Zinc are the worst performer to ease 0.78% each to 2110.50 and 1886.50 respectively.
The market has opened on a mildly positive note. The Sensex is up 41.04 points at 20532.00, and the Nifty is up 8.45 points at 6087.25. The rupee slipped further in early trade on Tuesday. It opened lower by 18 paise at 63.42 per dollar as against previous closing of 63.24 per dollar. Globally, Dow Jones extended its record rise yesterday, with the US markets ending marginally higher on low volumes ahead of key earnings. European markets closed with gains led by the healthcare sector. On BSE, Midcap is up by 0.70% and small gap is higher around 0.54%. On sectoral front, Realty is the best performer to gain 2.30% while Metal is the worst moving sector to ease 0.80% as we write this. Further the market breath remains positive with 1065 shares are seen advancing against 635 declining shares.
The Indian benchmarks ended the day on a negative note on November 11, 2013. It was sixth day in row of gradual selling in Nifty as longs continued to unwind & exit markets. INR finally broke above important resistance of 50DMA which can be medium term trend changer. Nonetheless some bottom fishing interest continued to emerge at every slide in the stock market hence falls have been gradual then sharp ones. It was again Banks which created major damage in markets. Axis Bank remained one of worst performers loosing 14% in just four days & has now reached 50DMA. Importantly today relatively stronger names which have held over last few days of slide started correcting like L&T, Hindalco, JP Associates, NMDC, Hero Honda, Asian Paints etc. BSE FMCG reached important support of 200DMA. ITC continued to remain under pressure, taking resistance at 200DMA. Hind Unilever has broken a critical support which can open deeper downside targets. Midcaps still outperformed the major indexes in the slide hence sense of panic is not created yet. The Sensex declined 175.19 points or 0.85 percent to close at 20,490.96 while the Nifty closed way below the 6100 level at 6,078.80, down 61.95 points or 1.01 percent from previous close.
Further, the market breadth closed slightly negative as three stocks were seen advancing against four declining stocks.
Precious Metals are trading in a tight range with Gold trading at 1281.20, lower by 0.23% and Silver is down by 0.06% at 21.03 an ounce. The near term outlook remains negative and expect prices to drift lower in the following sessions. Crude Oil futures on NYM are also trading down with a decline of 0.33% at 94.64, prices are likely to extend its downward move in coming hours. Natural Gas is trading flat with a marginal gain of just 0.08% at 3.56. Base Metals on LME are trading mix with nominal changes, Copper is at 7185.0, +0.37% and Nickel is at 13954.0, higher by 0.40% as we write this. Other three metals are trading slightly lower today. Intraday bias remains neutral for base metals. US Bank is closed today in observance of Veterans Day.
The Indian equity market opened the day on a negative note with Sensex opened down by 175 points at 20491.0 and Nifty eased 26 points to open its trade at 6114.70. The rupee breached 63 per dollar for the first time since September 30. The Indian currency had slipped in the early trade against the dollar. It opened lower by 42 paise at 62.99 per dollar compared to Friday's close of 62.47. The US dollar holds near two-month highs having staged a broad rally after the upbeat US jobs data and the euro dollar holds near 1.33. Globally, we had seen gains in US Stocks, following the advanced Job data and Asian shares edged away from a four-week low on Monday, while the dollar rose against the euro and yen as a surprise surge in US jobs growth signaled the world's largest economy was on a firmer footing. On BSE, Midcap and Smallcap are trading flat with Midcap down by 0.15% and Smallcap is up by 0.01%. On sectoral front, the top gainer is IT, which is 1.10% higher and the worst performer is Bankex, down by 1.68%. Further the market breath remains neutral with 1 share is seen advancing against every declining shares.
The Indian benchmarks ended the day on a weak note on November 8, 2013. Indexes remained under selling pressure through out this week. Banks witnessed big round of selling as INR continued to weaken for third day. Banks have been major pressure point for markets besides other high beta names. On other hand defensives continued to outperform for third day as players now again started moving out from beta into defensives. Metal was only beta which was holding well despite the market weakness. Nifty & Bank Nifty both broke below 20DMA puncturing the uptrend. Nifty spread remained firm between +40 to +50 points despite the sell-off indicating more intense selling in cash markets. Besides Banks, Auto was another sector where some major supply was visible since past four days. Now the index reached first crucial support of 20DMA. Tata Motors broke below 20DMA first time since 300 levels in Aug'13. M&M cracked below 200DMA & remained weakest Auto name. Cement continued to bleed. Supply in Ambuja cements continued after it cracked below 200DMA few days back. Tech Mahindra rallied sharply on strong results & news of addition in MSCI. The Sensex sheds 156.62 points to close at 20666.15 while the Nifty ended at 6140.75, down 46.50 points.
Further, the market breadth closed slightly negative as six stocks were seen advancing against seven declining stocks.
Precious metals are trading in a tight range with Gold and Silver recording minor gains as we write this. The actively traded Gold is at 1310.0 and Silver is at 21.65, +0.13% each. The near term outlook remains bearish and we expect prices to ease in the following sessions. Crude Oil and Natural Gas on NYM are at 94.50 and 3.54 respectively. Crude Oil is up by 0.32% and Natural Gas is up by 0.82%. Prices are range bound and we can see prices trading flat for the day. On base metals, prices are trading mixed with Copper and Zinc gained 0.38% and 0.13% to 7165.0 and 1096.0 respectively while other three metals are trading in red. Nickel was down by 0.45% to trade at 13977.0.
The market remained under pressure with Nifty opened at 6170.15, down by almost 20 points from the previous close of 6187.25 and Sensex opened at 20785.0, down by 40 points at 20822.7. Indian markets have seen the second largest upswing into Diwali over the last eight years. Our takeaways of Diwali demand suggest a slow economy and an equity market running ahead of the underlying. the Indian rupee opened lower by 28 paise at 62.69 per dollar against 62.41 Thursday. The US markets fell sharply with the Dow halting its record advance and Twitter's market debut drawing the spotlight, as investors reacted to an unexpected rate cut by the European Central Bank and a read on third-quarter US economic growth. The US economy expanded faster than forecast in the third quarter. Advance GDP rose by 2.8 percent year on year compared with a 2.5 percent growth in the second quarter. The number of jobless claims fell by 9,000 in the week ended November 2. On BSE, Midcap and small cap are trading up by 0.14% and 0.04% respectively. On sectoral front, BSE Auto is the top performer 0.54% while consumer durable is the worst sector 1.15%.
The market opened flat today with Sensex opening at 20896.13, higher by 2 a meager 2 points and Nifty was up by 13 points to open the day at 6228.90. Though the market opened marginally higher today, the bias remains negative on back of profit booking sentiments of traders. Indian rupee opened flat at 62.40 per dollar on Thursday as against previous day's closing of 62.39 per dollar. Globally, the US market closed mixed on Wednesday with Dow notched another record close as traders bought into optimism that Fed could continue its QE program for a longer time. On BSE, Midcap and Small cap are trading marginally higher with Midcap gaining 0.43% and Small cap is up around 0.18% as we write this. On secotral front, IT remains the top performer to gain 0.83% while consumer durable is worst trading sector to lead declines by 1.51%. Further the market breath stands positive with 725 shares are seen advancing against 477 declining shares
Key benchmark indices edged lower, in what was a highly volatile trading session after global credit rating agency Standard and Poor's (S&P) today, warned that it may lower India's rating to speculative grade from investment grade next year if the government that takes office after the general election fails to provide a credible plan to reverse the country's low economic growth. It affirmed its 'BBB-/A-3' sovereign credit rating on India while retaining negative rating outlook on Asia's third-largest economy.
The S&P BSE Sensex, provisionally settled below the psychological 21,000 mark, while Nifty closed at 6187, after hitting day’s high of 6289, down by 28 points. The market breadth, indicating the overall health of the market, was negative. The advance to decline in Nifty50 stocks stood at 18 advances to 32 declines.
Precious Metals are trading flat in a narrow range with Gold trading down by a dollar and Silver is up by a cent to trade at 1316.30 and 21.78 respectively. Intraday bias remains neutral and we can see prices trading in a tight range. The evening releases of US Jobless data and GPD figures are the important events that can set direction for the prices in coming hours. Base metals are trading in red on LME, as prices erased its early gains and trading lower as we write this. The three-month Copper is the only metal to trade marginally higher at 7126.0 while all other metals are trading lower with Nickel down by a percent at 14004.0. Crude Oil and Natural Gas on NYM are at 95.01 and 3.52 respectively. Crude Oil prices are trading down by 0.14% while Natural Gas prices are up by 0.69%. We expect Crude Oil prices to trade with a negative bias in the coming sessions.