Closing Summary, Market Synopsis: 30th September, 2013

Key benchmark indices closed the day with 98 points down. Nifty Future is still at a premium of 42 points to spot/cash, lower by 12 points in comparison with the previous day. On the other hand, BSE Sensex is down 347 points. With a gap down opening of about 40 points, throughout the major part of the day Nifty tries to hold 200Exponential DMA around 5750-5760(cash/spot) level. Even once bounces from that level to touch 5780. Eventually break that level and touch an intraday low of 5718 and finally settled at 5735.

CNX Finance, CNX Metals, CNX Realty are the major losers of the day, down over 2.45%. On the other hand, CNX IT, CNX Pharma and CNX MNC closed on a flat note. ACC, HCLTech and Hindusthan Unilever are the major gainers in Nifty. On the losing side the stocks are NMDC, Tatasteel, JpAss, ICICIBank and BHEL, all down by over 4%.

Commodity Market Update (Gold)

CMX precious metals are trading mixed with Gold trading at 1341.60, up 3.20 points or 0.24% after having tested a high of 1350.90 while Silver tested a high of 22.11 before settling in red at 21.73, losing half a percent or 0.10 points an ounce. With the exception of Lead, Base Metals are trading higher since morning and continued its last session’s gain. 3-month Copper contract tested a high of 7330.00 before settling at 7295.50, up 3.50 points or 0.05% while Aluminum was top performing metals among them, up 0.35% or 6.50 points to trade at 1846.50, followed by rest of the metals. WTI Crude Oil is easing 1.07% or 1.04 points to trade at 101.80 while Natural Gas is trading at 3.54, down 1.45% or 0.05 points per mmBtu.

Morning Summary, Market Synopsis: 30th September, 2013

The market has kick-started the week in the negative terrain. The Sensex is down 78.20 points at 19649.07, and the Nifty slips 32.15 points at 5801.05. About 120 shares have advanced, 204 shares declined, and 23 shares are unchanged. The Indian rupee opened with a gain of 48 paise at 62.99 per dollar against 62.51 Friday. US stocks declined on Friday and the S&P 500 and Dow posted their first weekly drop in four, as Democrat and Republican lawmakers struggled to agree on an emergency funding bill to avert an US government shutdown day away. Asian markets were trading weak on Monday. Hong Kong's Hang Seng plunged 1.26 percent or 293.17 points at 22,913.87. On BSE, Midcap and Small Cap are trading down by 0.43% and 0.19% respectively.
Advance decline ratio stands negative with 421 shares are seen advancing against 617 declining shares.

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Closing Summary, Market Synopsis: 27th September, 2013

Key benchmark indices opened today(27-09-2013) on positive note but drifted steadily downwards throughout the day ending the day with 49 points down breaking consecutive three weeks rally. Though the Nifty Future premium today declined by 10 points in comparision with spot/cash Nifty, yet the Future is still at a premium of 55 points. The Sensex for the day closes with 166 points down.The Advance and Decline ratio for the day is 492:612 in NSE.

CNX Finance,CNX PSU Banks and CNX Metals are the top sectoral losers in NSE & CNX FMCG,CNX IT and CNX Pharma ended flat to positive today. In Nifty Index BPCL is the highest gainer with 6.03% up.Other gainers for the day are HCLTech, SunPharma and CoalIndia.Top losers of the day are BHEL, JPAssociates and TataSteel-all down by over 4.5% on 27th sept 2013.

Commodity Market update (Copper)

Precious Metals are trading marginally lower with Gold trading down by 0.13% at 1322.70 and Silver is lower by a percent at 21.5 an ounce, at the time of writing this. The near term outlook remain bearish and we can see prices falling down in coming hours. 1310.0 is a good support for Gold while that for Silver comes near 21.30 an ounce. Base metals are trading flat with meager changes; three-month Copper is at 7253.0, down by 0.06% while Nickel is up by 0.35% at 13864. Crude Oil prices on NYM are trading lower today, the front month contract is at 102.40, lower by 0.60% and Natural Gas is at 3.56 with no change, at the time of writing this. Bias for Crude Oil and Natural Gas remains negative for the day.

Morning Summary, Market Synopsis: 27th September, 2013

Equity benchmarks are under pressure amid volatility in morning trade, weighed down by financials, telecom and FMCG stocks. The Sensex is down 52.45 points at 19841.40, and the Nifty is down 15.25 points at 5867 at the time of market opening. the rupee gained strength today, rising above the 62 level. It rose 15 paise to 61.92 against the US dollar. On Global note, The S&P 500 and Dow snapped five-day losing streaks on Thursday on positive job market data but gains were limited as investors worried if Washington lawmakers would pass bills to avoid a government shutdown and possible US debt default on time. Asian markets were trading firm. Hong Kong's Hang Seng was up 0.12 percent or 28.47 points at 23,153.50. On BSE, Midcap and Smallcap are trading positive with gains of 0.34% and 0.42% respectively. On sectoral Font, Oil is the top gainer to adding a percent and Bankex is the worst performer to ease 1.44%.

Closing Summary, Market Synopsis: 25th September, 2013

Key benchmark indices edged lower in choppy trade, with the market sentiment hit adversely by the government's failure to push further reform & unexpected interest hike by RBI. However, the key benchmark indices trimmed intraday losses as the rupee edged higher against the dollar and as European stocks reversed intraday losses. Volatility was high ahead of the expiry of the near month futures & options (F&O) contractstomorrow, 26 September 2013. BSE Sensex, was provisionally down 77.67 points or 0.39%, Nifty shut shop down 18.6 points at 5874.

The market breadth, indicating the overall health of the market, was negative. In Nifty50 stocks the advance to decline stands at 22 advances to 28 declining stocks. Sector that outperformed in today’s market are Media, Metals, Pharma & CNX PSU Bank, the laggards are FMCG, Bank Nifty & Energy.

Commodity Market Update (Crude Oil)

Bullion prices are trading marginally higher today with the most actively traded Gold contract is at 1320.0, up by 0.28% or 4 points and Silver is at 21.60, higher by just 2 cents or 11% at the time of writing this. 1330.0 level in Gold, acted as a strong resistance and we expect this level to remain intact for the day. The intraday view stands bearish on precious metals and we can see prices drifting lower in coming hours. Base metals are trading flat on LME with Copper trading up by a 2 points at 7179.0 while Nickel is the only metal to trade in red at 13742.0, down by 0.20%. Crude Oil and Natural Gas prices on NYM are trading positive today, Crude Oil is trading up by 0.60% at 103.72 and Natural Gas is higher around a percent at 3.52. EIA is set to release its weekly Oil Inventory data at 8.00 PM with a market forecast of -1.0M against the previous week’s data of -4.4M.

Data to watch:

Durable Goods Order, Core durable Goods Order, New Home Sales, Crude Oil Inventories.

News Hour: US-Iran thaw fuels hope in energy-hungry India

WASHINGTON: The United States and Iran are renewing direct diplomatic contact after nearly 35 years. Responding to Iranian overtures, President Barack Obama on Tuesday asked his Secretary of State John Kerry to hold talks with his Iranian counterpart on the sidelines of theUN General Assembly. There are expectations that Obama himself may exchange at least handshakes with Iranian President Hasan Rouhani later in the day in what may be seen as one of the watershed moments in 21st century geopolitics.

Cautious optimism marked the American response to Iranian initiatives at the United Nations. Obama devoted part of his 45-minute explanatory discourse on US foreign policy to Iran, saying he was encouraged by the moderate course chosen by the new Iranian president and Teheran's forswearing of nuclear weapons, including a fatwa against them by the clerical leadership. On its part, the Washington was not seeking regime change in Iran and respected the right of the Iranian people to access peaceful nuclear energy.
These mutual commitments, he said, offered the basis for resolution of a complex issue in which the US would recognize Iran's right to access nuclear energy if Teheran gave up pursuit of nuclear weapons in a transparent, verifiable manner.

The thaw, if it comes about, may not be as momentous as the one that followed the 1972 Nixon-Mao meeting, but it will result in cooling of global oil prices, an easing of West Asia tensions, including the conflict in Syria where Iran is a player, a dilution of Israeli-Iranian hostility and a constructive role for Tehran in Afghanistan.

"I don't believe this difficult history can be overcome overnight. The suspicions run too deep. But I do believe that if we can resolve the issue of Iran's nuclear program, that can serve as a major step down a long road toward a different relationship, one based on mutual interests and mutual respect," Obama said, underscoring the hard task ahead given decades of mistrust from both sides. "The roadblocks may prove to be to great, but diplomatic roads must be tested," he added.
In Tehran, Iran's foreign office spokeswoman Marzeih Afkham said the meeting could be the "beginning for nuclear talks in the new era."

US officials indicated that Kerry, along with his counterparts from the other P-5 nations, would be meeting Iranian foreign minister Javad Zarif within a day or two, perhaps on Thursday.

The possible US-Iranian thawing could largely overshadow Indian Prime Minister Manmohan Singh's visit to Washington (he meets Obama at the White House on Friday) and his UN engagements on the weekend, including a possible meeting with Pakistan's Prime Minister Nawaz Sharif on Sunday. But besides being relatively inconsequential given Pakistan's growing marginalization, New Delhi has greater stakes in the US-Iran thaw, because both countries are major energy suppliers to India.

In his exposition on US foreign policy, Obama pushed back at questions (principally from Russia) about American exceptionalism, noting that it was only the United States that out both lives and money where its mouth is. The danger for the world is not an America that is too eager to immerse itself in the affairs of other countries, or to take on every problem in the region as its own, he said; The danger for the world is, that the United States after a decade of war, rightly concerned about issues aback home, aware of the hostility that our engagement in the region has engendered throughout the Muslim world, may disengage creating a vacuum of leadership that no other nation is ready to fill.

"Such disengagement would be a mistake. America must remain engaged for our own security, but I also believe the world is better for it. Some may disagree. But I believe America is exceptional. In part because we have shown a willingness through the sacrifice of blood and treasure to stand up not only for our own narrow self interest, but for the interest of all," Obama said.

(Source: timesofindia.indiatimes.com)

Morning Summary, Market Synopsis: 25th September, 2013

The Indian equity market started flat today, the Nifty is higher by 10 points or 0.15% at 5901.55 and Sensex added 56 points to trade at 19976.80 at the time of market opening. The Indian rupee opened on a flat note at 62.76 per dollar versus 62.75 yesterday. We expect rupee to trade with a negative bias owing to choppy equities, weak sentiment in Asia and Strong dollar demand by the importers. On international front, The Dow and S&P 500 ended lower on Tuesday, extending their recent slide to a fourth session as worries over a possible US government shutdown added to investor caution. Asian shares slipped and the dollar inched higher in early Asian trade on Wednesday, as concerns about a possible US government shutdown and uncertainty about the US Federal Reserve's policy outlook made investors hesitant to take aggressive positions. On BSE, Midcap and Small cap are trading positive with midacap gaining 0.17% and Small cap is up by 0.31%. On sectoral view, Capital Goods is leading the gainers by a gain of 1.20% whereas Consumer durable is trading worst, down by 0.50%.
Further the market breath remains positive as 637 shares are advancing against 425 declining shares. About 62 shares are unchanged.

Closing Summary, Market Synopsis: 24th September, 2013

Key benchmark indices provisionally settled with small gains as higher European stocks supported domestic bourses. The BSE Sensex, fell below the psychological 20,000 mark, having alternately moved above and below that level in intraday trade, CNX Nifty closed almost flat (up by 2.7 points) at 5892.45. The market breadth, indicating the overall health of the market, was negative. The advance to decline in Nifty50 stocks stood at 23 advances to 26 declines, reflecting the broader market sentiments.

IT stocks edged lower in choppy trade. Auto stocks gained on renewed buying. Capital goods pivotals edged higher in choppy trade. Pharma stocks were mixed, with Dr Reddy's Laboratories hitting record high. Bajaj Auto, Tata power & NTPC are the top gainers on Nifty stocks, whereas Hindalco, BPCL & Coal India the top losers.

Commodity Market Update (Silver)

Precious metals are trading lower since morning with Gold at 1315, down by 0.90% and Silver is trading at 21.51, -1.59%. The short term outlook remains bearish on Gold and Silver and any recovery in prices may generate selling opportunity in the counter. We can see Gold drifting lower to face a crucial support around 1300.0 key level and break below that will turn overall outlook bearish. Base metals are also trading in red on LME with 3-month Copper rolling contract is at 7178.0, slashed a percent or 71 points at the time of writing this. Nickel is down by 1.08% or 150 points at 13800.0. Crude Oil and Natural Gas Prices on NYM are trading at 103.22 and 3.599, down by 0.37% and 0.08% respectively. The intraday bias remains negative for both the commodities and we can see prices falling further in coming hours. An important support for Crude Oil comes near 103.0 and break below that will lead prices to 101.60 level.

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Morning Summary, Market Synopsis: 24th September, 2013

The Indian equity market opened on a silent note, following the aggressive selling in last sessions. The Index is down by 34 points or 0.17% at 19867 and Nifty is lower by 10 odd points at 5879. Indian rupee fell 19 paise in early trade Tuesday to 62.79 per dollar as against previous day's closing of 62.60 per dollar. On international front, US stocks declined for a third straight session on Monday as Federal Reserve officials suggested the Fed could still begin scaling back its stimulus later this year. Asian share markets got off to a soggy start on Tuesday while currencies dithered in recent ranges as a dearth of major economic news left investors to chew on the outlook for monetary policy in the United States and Europe. On BSE, Midcap and Small cap are trading positive with gains of 0.46% and 0.30% respectively. On sectoral front, Realty is the top performer to add 1.74% while on the other hand Bankex is down by 0.17% and FMCG is lower by 0.16% as the market open.
Further the market breath stands positive as advance decline ratio stands at 2:1; two shares seen advancing against each declining share.

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Closing Summary, Market Synopsis: 23rd September, 2013

Key benchmark indices extended the fall after Federal Reserve Bank of St. Louis President James Bullard said on Friday, 20 September 2013, that the Federal Reserve could make a small stimulus reduction at its next meeting in October 2013. Fed's bond-buying program has been a source of liquidity for most Asian and emerging markets this year. The market sentiment was also hit by the Reserve Bank of India's hawkish tone at its latest monetary policy review on Friday, 20 September 2013. CNX Nifty closed down by over 2% at 5912 level.

The market breadth, indicating the overall health of the market stood negative. The advance to decline in Nifty50 stocks stood at 9 advances to 40 declines, 1 unchanged. Except CNXIT, all sectors on NSE closed negative, with CNXPSU Banks worst hit (down by 5.7%).

Commodity Market Update (Gold)

Precious Metals are trading in red today with gold futures at 1320.40 an ounce, down 12.0 or 0.90% and silver at 21.65 per ounce, down 28 cents or 1.26%. Base Metals on LME are also lower today with aluminum and zinc being the exception; three month copper futures are down 54.50 or 0.75% at 7228.75 per ton. The outlook on metals is neutral for the day. Crude Oil is higher by 17 cents to trade at 104.93 per barrel while Natural Gas is down 0.41% to 3.6720 per mmbtu. Intraday bias is negative on oil today.

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Morning Summary, Market Synopsis: 23rd September, 2013

The market has opened on a lower note as rate sensitive stocks are under selling pressure buoyed down by Raghuram Rajan's maiden monetary policy. The Sensex is down 201.87 points or 1 percent at 20061.84, and the Nifty down 66.30 points or 1.10 percent at 5945.80. The near term outlook remain bearish for Nifty and we can see prices moving down to test its important support of 5930.0 in coming hours. The Indian rupee opened lower by 30 paise at 62.54 per dollar against the previous close of 62.23. On international front, US stocks fell on Friday as investors puzzled over the Federal Reserve's decision to maintain its stimulus measures as they heard opposing viewpoints from top Fed officials. Asian market are trading mixed today. On BSE, Midcap is trading in red with a decline of 0.37% while Smallcap is in green, adding 0.32%. On sectoral front, IT is the top performer to gain 1.39% while Bankex is the worst performer to ease 3.14% as we write this.
Further the market breath remains neutral as we can see one stock advancing against each declining stock.

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Closing Summary, Market Synopsis: 20th September, 2013

Key benchmark indices dropped in a choppy trading session after the Reserve Bank of India, in a surprise decision, raised its key policy rate viz. the repo rate by 25 basis points (bps) to 7.5% from 7.25% after a monetary policy review. However, the central bank also unwound some of the cash tightening steps undertaken since mid-July, lowering the marginal standing facility rate by 75 basis points to 9.5 percent and the minimum daily average cash balance that banks need to maintain to 95 percent from 99 percent previously.. The CNX Nifty provisionally closed above the psychological 6,000 mark, at 6012 down by 103.45 points. The BSE Sensex was provisionally down 365.70 points or 1.77%, up about 230 points from the day's low and off close to 395 points from the day's high.

The market breadth, indicating the overall health of the market, was negative, in Nifty 50 stocks the Advance to Decline ratio stands at 20 advances to 30 declines. On NSE all sectoral indices except Pharma closed in the red with Realty( down by 7.47%) and Bank nifty (down over 4%) were the worst hit.a

Commodity Market Update (Copper)

Precious metals drifted lower on account of profit brooking after posting a significant rally in post sessions on back of intact QE from Fed. Gold on CMX is trading at 1375.30, -0.90% or 13 points and Silver slipped as much as 2.11% to trade at 22.80 an ounce. We expect the declines to be continued in the following session with an immediate support for Gold stands at 1354.0 and a break below this will extend correction to test next support 1333.0. Silver prices are also likely to trade same, following gold. Base metals on LME are trading flat with Copper being the only exception to move in green while all other are trading in red. Lead is leading the laggards by a decline of a percent at 2105.0 while Copper is at 7355.0, +0.44%. The short term outlook remains positive on Copper and we can see prices moving higher in coming days. Energy prices on NYM are trading in red with Crude Oil at 106.0, down by 0.36% and Natural Gas is at 3.69, lower by 0.78% at the time of writing this.

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Morning Summary, Market Synopsis: 20th October, 2013

The market has opened lower as investors seem to be cautious ahead of the RBI monetary policy review to be announced today at 11am. Reserve Bank Governor Raghuram Rajan will be announcing his first credit policy. Most market analysts are expecting the central bank to scale back the liquidity tightening measures announced in July. Meanwhile, the Indian rupee opened with a marginal loss of 22 paise at 62.05 per dollar ahead of RBI policy against 61.78 on Thursrday. These led the Sensex to trade near the level of 20617.30 i.e. down by 29.34 points & the Nifty to trade near the level of 6104.55 i.e. down by 11 points. The Midcap index and small cap index are both trading in green with the gain of thirteen basis points of a percentage point and quarter of a percentage point respectively. On the sectoral front, the indices are trading mixed. The Power Index is trading as the biggest gainer with the gain of one and one-tens of a percentage point. On the other hand, the Metal Index is the biggest loser with the loss of nine-tens of a percentage point. This is followed by the Capital Goods Index which is trading with the loss of slightly more than eight-tens of a percentage point.
Further, the market breadth is neutral as one stock was seen advancing against each declining stock.

Closing Summary, Market Synopsis: 19th September, 2013

Key benchmark indices surged as world stocks rose after the US Federal Reserve monetary policy review on Wednesday, 18 September 2013, decided to maintain stimulus to the US economy through monthly bond purchases of $85 billion. Fed's bond-buying program has been a source of liquidity for most Asian and emerging markets this year. The BSE Sensex, moved past the psychological 20,000 mark and the 50-unt CNX Nifty surged past the psychological 6,000 level. The Sensex settled at its highest level in more than 34 months. The Nifty settled at 16-week high at 6115.55 up by 216 points. 

The market breadth, indicating the overall health of the market, was positive. Except the CNX IT index, all the other sectoral indices on NSE were in the green, with CNX PSU Bank topping the sectoral gainers with 8.25% rise followed by Bank Nifty with 6.71%. In Nifty 50 stocks the Advance to Decline stood at 47 to 3, with PNB (up by 9.2%) as top gainers.

News Hour: Sensex rallies over 600 points, Nifty ends above 6,100

MUMBAI: The 50-share Nifty index posted its highest close since May 30 and hit a 3.5-month high on the back of short coverings on Thursday, after the US Federal Reservedecided to continue with its bond purchase programme.

Institutional investors rushed to buy rate sensitives like realty and auto in anticipation of rolling back of some liquidity tightening measures by the Reserve Bank of India Governor Raghuram Rajan on Friday at the mid-quarter review of monetary policy 2013-14

The Nifty posted highest close since May 30 and hit a 3.5-month high. The index closed at 6,107.85, up 208.40 points or 3.53 per cent. It touched a high of 6,142.50 and a low of 6,040.15 in trade today.

The BSE Sensex rallied over 700 points to touch its highest level in 34-months. The S&P BSE Sensex ended at 20,625.55, up 663.39 points or 3.32 per cent for the first time since November 10. It touched a high of 20,739.69 and a low of 20,347.30 in trade today.

The S&P BSE Midcap Index was up 2.22 per cent and the S&P BSE Smallcap Index was 1.15 per cent higher.

The S&P BSE Bankex surged 6.81 per cent, the S&P BSE Realty Index was 5.32 per cent higher, the S&P BSE Capital Goods Index advanced 4.71 per cent and the S&P BSE Metal Index gained 3.62 per cent.

The S&P BSE IT index closed 0.42 per cent lower.

SBIBSE 8.07 % (8.32 per cent), Tata SteelBSE 6.96 % (7.17 per cent), Tata PowerBSE 6.48 %(6.48 per cent), ICICI BankBSE 6.55 % (6.55 per cent) and Tata Power (6.48 per cent) were among the top Sensex gainers.

WiproBSE -1.87 % (1.87 per cent), InfosysBSE 0.12 % (0.15 per cent) and Coal IndiaBSE -0.03 %(0.03 per cent) were the only index losers.

The market breadth was positive on the BSE with 1,427 gainers against 998 losers.

The foreign institutional investors bought shares worth Rs 580.13 crore while domestic institutional investors were net sellers worth Rs 508.41 crore on Wednesday as per the provisional data from the National Stock Exchange.

(All figures are provisional)

(Source: economictimes.indiatimes.com)

Commodity Market Update (Natural Gas)

Precious metals surged higher today following the unchanged monetary policy by the Fed. The most actively traded Gold contract finished higher by 54 points or 4.16% at 1362.0 and Silver jumped 6.36% or 1.37 points to trade at 22.9 at the time of writing this. We expect prices to remain positive in coming hours and expect gold to retest the high of 1375.0 and Silver may take cue from it. Base metals are trading in green with Copper trading at 7321.0, adding 116 points or 1.61% and Aluminum is up by 2% at 1825.0. The Intraday bias remains positive for Base metals. Crude Oil and Natural Gas prices on NYMEX are trading firm with Crude Oil trading at 108.70, up by 0.59% and Natural Gas is trading at 3.74, higher by 0.78%. We expect a minor correction in Crude oil while Natural Gas is likely to remain positive with traders looking for storage data which is due to be released later today.

Closing Summary, Market Synopsis: 18th September, 2013

Today was the second day in row that markets traded in a tight range with a serious drop in volumes. Today’s volumes were again 40% lower than average indicating that the whole market was waiting for clarity from FED to proceed. It also indicated that volatility can be sharp either side tomorrow due to the pent up move. However some section of players were seen accumulating 6000 calls where implied volatility was continuously getting bold since morning. Likewise players were seen also lapping up private banks fearing that they may breakout tomorrow. Talk in the market was that with Fed policy overhang gone out of way, markets could again start rallying. Besides Banks, it was again ITC, Hind Unilever,& Reliance where incremental money was seen flowing. Nifty spread remained firm between +25 to +30points but BSE Midcap underperformed for third day.

Further, the market breadth closed slightly positive as eleven stocks were seen advancing against ten declining stocks.

Commodity Market Update (CrudeOil)

Precious metals on COMEX are trading lower since morning on the speculation that Federal Reserve may cut its stimulus. Actively traded Gold tested a low of 1291.50 before settling at 1300.60, down 0.68% or 8.7 points an ounce and Silver is down 0.73% or 0.16 points to trade at 21.62 after having tested a low of 21.37 at the time of writing this. LME Base metals are trading higher since morning with Copper trading at 7116.50, up 29 points or 0.41% while Lead is the top gaining industrial metal, up 0.63% or 13 points to trade at 2065.00, followed by rest of the metals. WTI Crude Oil is gaining 0.68% or 72 cents to trade at 106.14 on the expectation of dropped in Oil stockpiles by 1.2 mbd against the previous week of 0.2 Mbd while Natural Gas is trading almost flat at 3.74 with a negative bias.

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Morning Summary, Market Synopsis: 18th September, 2013

The Indian share market indices have opened the day on a positive note. Stocks in the consumer durables and realty space are leading the gains. However, information technology stocks are trading weak. The Sensex today is up by around 33 points (0.2%), while the NSE-Nifty is up by around 7 points (0.1%). Mid and small cap stocks are also trading in the green with the BSE Mid Cap and BSE Small Cap indices up by around 0.3% each. The rupee is currently trading at Rs 63.30 to the US dollar. On the international front, in US, Stocks closed higher on Tuesday, with the Dow and S&P 500 finishing in positive territory for the third-straight session, as Federal Reserve policymakers kicked off their two-day meeting. While in Asia, Japan's benchmark index enjoyed a strong rebound on Wednesday but other Asian stock indices traded cautiously as investors braced for a cut in U.S. stimulus ahead of the Federal Reserve's policy decision. Coming back to India, top Nifty gainers are DLF, Cipla, Coal India, SBI & Tata Power, while top Nifty losers include Cairn India, HDFC, Ambuja Cement, Kotak Mahindra Bank and M&M at the time of writing this.

Closing Summary, Market Synopsis: 17th September, 2013

After a lacklustre trading session, the market managed to end in the green. The US Federal Reserve's two-day policy meeting starts today. Economists expect the Fed to reduce its asset purchase program by USD 10 billion a month. Global markets turn cautious based on this. On the other hand the government is planning to hike import duty on gold. All these led the Sensex to close at the level of 19804.03 i.e. up by 61.56 points and the Nifty to close at the level of 5850.20 i.e. up by 9.65 points. The midcap index and the small cap index closed in red with the loss of four-tens of a percentage point and eight basis points of a percentage point respectively. On the sectoral front all the indicies closed mixed. IT index was the biggest gainer with the gain of two and one-tenth of a percentage point. This was followed by Teck Index which gained one and seven–tens of a percentage point. While on other hand, Realty Index was the biggest looser with the loss of nearly nine-tens of a percentage point.
Further, the market breadth closed slightly negative as ten stocks were seen advancing against eleven declining stocks.

Commodity Market Update (Silver)

Precious metals are trading marginally lower with the most actively traded Gold contract trading at 1317.20 an ounce, lower by 60 cents and Silver is trading down by 0.11% at 21.99 an ounce. The overall outlook remains bearish on precious metals but we can see some intraday gains on back of short covering. Base metals are trading in red with Copper trading at 7093.0, down by just 5 points and Lead is leading the laggards by a decline of 0.50% at 2046.0. Bias for base metals stands negative and we can see prices drifting lower in coming sessions. Energy prices on NYM are trading mixed with Crude Oil trading at 106.1, -0.45% while Natural Gas is up by 0.67% at 3.76.

Morning Summary, Market Synopsis: 17th September, 2013

The Indian equity markets indices have opened the day on a weak note. Barring healthcare, software and consumer durables, all sectoral indices have opened in the red with stocks in the banking and capital goods leading the losses.The Sensex today is down by around 55 points (0.3%), while the NSE-Nifty is down by around 17 points (0.3%). Midcap stocks have opened in the red as well with the BSE Mid Cap index down by around 0.1%. However, small cap stocks have opened in the green with the BSE Small Cap index up by around 0.1%. The rupee is trading at Rs 63.43 to the US dollar. In US stocks eased off their best levels Monday but still finished sharply higher, boosted by news that Larry Summers had pulled out of the race to be the next head of the Federal Reserve. Asian equity markets turned mixed on Tuesday amid anticipation of a reduction in U.S. stimulus ahead of the Federal Reserve's two-day policy meeting. Coming back to India, top Nifty gainers are Ranbaxy Lab, HCL Tech, Dr Reddy’s Lab, Ultratech Cement and Grasim Industries, while top Nifty losers include Bank of Baroda, Indusind Bank, Axis Bank, Sun Pharma and IDFC Ltd.

Commodity Market Update (Gold)

Precious Metals are trading in green with Gold trading up by half a percent or 7.2 points at 1315.50 on CMX and Silver is up around a percent at 21.90 an ounce. The intraday bias remains negative for Gold and Silver and we expect prices to move lower in coming hours. An important support for Gold comes around 1300.0 and a break below that will clear short term bearishness in the metal. Crude Oil on NYM is trading near a crucial support of 106.65 at 107.0, down by 1.25%. An hourly close below the aforesaid support will turn near-term outlook bearish for Crude Oil. Natural Gas prices are at 3.67, - 0.08%; intraday view stands neutral on Natural Gas. Base metals prices are trading mixed on LME with Aluminum is trading at 1797.0, +2 points or 0.11% and Copper is trading up by 0.12% at the time of writing this. The bias remains negative on base metals.

Closing Summary, Market Synopsis: 16th September, 2013

Key benchmark gave away initial strong gains after data released by the government today, 16 September 2013, showed that inflation based on wholesale price index (WPI) accelerated in August 2013, firming expectations that the central bank may again hold off cutting interest rates at its monetary policy review on Friday, 20 September 2013. The barometer index, the BSE Sensex, closed a tad higher up by 7 point at 19742. The CNX Nifty edged lower by 10 points to settle at 5840. Stock prices were volatile. The market breadth, indicating the overall health of the market, was negative with 466 advances to 680 declines on NSE.

In some major development, shares of pharma major Ranbaxy Laboratories tumbled a staggering over 30% in a single trading session after the US Food and Drug Administration issued an import alert against company's Mohali plant. Shares of most private banks rose. IT stocks declined as the rupee surged against the dollar.

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Morning Summary, Market Synopsis: 16th September, 2013

The Indian equity market indices have opened the day on a firm note. Barring healthcare, all sectoral indices have opened in the green with stocks in the banking and capital goods leading the gains. The Sensex today is up by around 289 points (1.5%), while the NSE-Nifty is up by around 89 points (1.5%). Midcap and small cap stocks have opened in the green as well with the BSE Mid Cap and BSE Small Cap indices up by around 0.7% each. The rupee is trading at Rs 62.6 to the US dollar. On the international front, US stocks closed near session highs on Friday, with the Dow posting its second best weekly gain this year. Asian equities kicked off the week higher as investors cheered Larry Summer's decision to pull out of the race to become the next Federal Reserve chief, but trading volumes were thin with Japanese markets shut for a holiday. Coming back to India, top Nifty gainers are IndusInd Bank, ICICI Bank, Axis Bank, Maruti Suzuki and Hero Motor Corp, while top losers include Ranbaxy Lab, HCL Tech, TCS, Sesa Goa Ltd, and Lupin Ltd.

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Closing Summary, Market Synopsis: 13th September, 2013

Friday the 13th…Indices flatten after choppy trade- It was a choppy day of trade with global cues mostly lower. The action seemed to be more outside the market with attention on the announcement of Narendra Modi as BJP’s prime ministerial candidate expected later in the day.

Given the cautious situation in the market after a recent rally, investors chose to ignore better than expected July industrial production data and CPI date. The country’s industrial production, which declined for the last two months, saw a growth of 2.6% for the month of July following an improvement in the manufacturing and power sectors. The Consumer Price Index based inflation also moderated to 9.52% in August from 9.64% in July, following a fall in inflation for most items, excluding vegetables. However, for urban areas, CPI-based inflation rose to 10.32% in August from 10.26% in July. For rural areas, it fell from 9.14% to 8.93%.

India's economy is expected to grow 5.3% this fiscal year, as per the prime minister's economic advisory panel. This was sharply lower than an earlier estimate of 6.4% but higher than the previous year.

Coming back to today’s trading session, the BSE realty, power, capital goods and auto index were among the major gainers. Even the BSE mid-cap and the small-cap index rose by 0.6% each.

On the other hand, BSE consumer durables, IT and the telecom index were among the top laggards.

Finally, BSE Sensex closed at 19,732 down 49 points, while NSE Nifty closed flat at 5,850

Commodity Market Update (Copper)

Precious Metals on CMX are trading lower since morning and continued its last session’s decline on speculation that Federal Reserve may curb its stimulus program and easing concern about Syria crisis. Actively traded Gold contract fell 20.40 points or 1.53% to trade at 1310.40 after having tested a low of 1304.60 while Silver futures plunged 2.64% or 0.58 points to trade at 21.57 an ounce. Base Metals are trading lower on LME with Copper trading at 7063.00, down 7.75 points while Lead is down 1.46% or 31 points to trade at 2094.25, followed by rest of the metals. WTI Crude Oil is losing around a percent or 1.02 points to trade at 107.57 after having tested a low of 107.31 on NYMEX while Natural Gas is trading almost flat at 3.624 with a negative bias.

Morning Summary, Market Synopsis: 13th September, 2013

The Indian equity market opened marginally negative today with Sensex opening at 19744.54 versus the previous close of 19781.88 and Nifty declined more than 20 points to start the day at 5828.0. Technically, 5800.0 is a strong support and any fall in Nifty is most likely to get supported here. We expect 5800.0 mark to remain intact for the day; the short term bias stands positive for the Indian equity market, following the better than expected IIP data released last evening. The rupee opened lower by 20 paise at 63.72 per dollar on Friday. In the US, initial jobless claims slipped to 292K in the week ended September 6 from 323K a month ago. The market had anticipated a rise to 332K. US market closed in red as traders locked their profit after pervious gains ahead of Federal Reserve's policy meeting. On BSE, Midcap and Smallcap are trading in green with Midcap up by 0.72% and Small cap is higher by 0.88%. On sectoral front Teck and IT are the exceptions to trade in red while all other are in positive. The top performing sector is Capital Goods adding almost 2%, as we write this.

Further the market breath stands positive with 1136 share are seen advancing against 523 declining shares. 70 shares are unchanged. 

Pre session Market Update

Market likely to open lower on negative Asian stocks
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