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Closing Summary, Market Synopsis: 13th December, 2013

The Indian benchmarks ended the day on a negative note on December 13, 2013. The indexes opened negative and continued their down move with side ward bias. Once, they started trading below the opening level, the indexes could not even touch the opening mark during the day. The sentiment was drastically subdued compared to the euphoria that was seen on Monday, post assembly election results. The Sensex declined 210.03 points or one percent to 20,715.58, and the Nifty slipped 68.65 points or 1.10 percent to 6,168.40. ICICI Bank and BHEL topped the selling list, falling 4 percent each followed by HDFC, GAIL , Bajaj Auto , Hero Motocorp and State Bank of India with a 2-3 percent loss. However, Tata Motors continued to see short covering-led buying, rising 2.75 percent. This was followed by Mahindra and Mahindra, Infosys, Wipro, Tata Steel and Coal India. The midcap index and the smallcap index closed in red with the loss of one and quarter of a percentage point and almost one percentage point respectively. On the sectoral front, all indexes closed in red. The Bank Index closed as the biggest looser with the loss of two and a quarter of a percentage point. This was followed by the Power Index which closed with the loss of slightly more than two and one-fifth of a percentage point. On the other hand the IT index closed neutral with nil gain/loss.

Further, the market breadth closed negative as one stock was seen advancing against two declining stocks.

Commodity Market Update (Copper)

Precious metals are trading flat with Gold trading up by just a dollar at 1226.0 and Silver is higher by 4 cents at 19.49 an ounce. The near term outlook remains neutral for precious metals. Crude Oil and Natural Gas on NYMEX are trading in red with Crude Oil at 97.27, lower by 23 cents or 0.23% and Natural Gas is at 4.33, down by 1.27% as we write this. Crude Oil prices are struggling near an important support and a break below this will lead prices further down to test the next support at 96.50 level. Base metals on LME are trading nominally higher today, with Nickel remains the exception to trade in negative. The 3-month Nickel is at 13954.0, -0.50% while Lead is the top performer to gain 0.14% at 2130.0.0.

Data to watch: US PPI m/m and US Core PPI m/m

Morning Summary, Market Synopsis: 13th December, 2013

The market fell further in early trade on last trading day of the week, tracking nervousness across the globe on worries of Fed tapering in the forthcoming FOMC meeting due next week. Rate hike fears too spooked market and currency today. The Sensex lost 154.80 points or 0.74 percent to 20,770.81, and the Nifty fell 51.55 points or 0.83 percent to 6,185.50. The global mood is cautious. Asian markets are mixed on uncertainty over timing of scaling back fiscal stimulus by Federal Reserve. US markets slipped for the third session with the Dow closing down 100 points while European markets too feel the heat falling between 0.4-1 percent on Thursday. On BSE, Midcap is lower by 0.19% and Small cap is up by 0.05% while on sectoral front, Auto sector is the top gainer to gain 0.38% and bankex is the top loser to ease 1.52%.
Further the market breath stands negative with 552 shares are seen advancing against 663 declining shares.

Closing Summary, Market Synopsis:

Closing Market Update:
The Indian benchmarks ended the day on a negative note on December 12, 2013. Slide in key indices below Monday's gap (election result day gap of 6320 in Nifty) accelerated the pace of selling further, bringing another round of profit booking largely across beta names (Banks, Metals, Cap Goods). Defensives continued to remain the flavor of market with Pharma, FMCG and IT outperforming for third day. However again selling was limited to large caps; BSE Mid & Smallcap outperformed sharply. This is the reason for no signs of visible panic in market. Shorts were getting active slowly pushing Nifty spread to +28 points from +36 points towards close. Volumes in last hour of slide expanded. BSE FMCG index was still taking resistance at 200DMA although it has been outperforming for third day. Tata Motors plunged sharply below 50DMA for first time in four months on large volumes. This selling also got percolated to other Auto names today pushing BSE Auto index towards its 50DMA. Selling in Ambuja continued for third day now making it slide below 200DMA. Likewise after breaking below 200DMA, ONGC continued to slide sharply.

Further, the market breadth closed negative as three stocks were seen advancing against four declining stocks.

Commodity Market Update (Natural Gas)

Precious metals are trading lower today with Gold trading down by half a percent at 1250.60 and Silver is at 20.19, lower by 0.80%. Intraday view remains negative and we expect prices to trade down in the coming hours, traders are waiting for US jobless claims data which is scheduled at 7.00 PM and we expect prices to take cues from this weekly release. Base metals across the LME are trading in green with lead recording the highest gain of 0.65%, followed by Nickel and other base metals. Intraday outlook remains positive for base metals. Crude Oil and Natural Gas prices are trading mix today with Crude Oil is at 97.42, lower by just a cent and Natural Gas is up by 0.58% at 4.36 per mmBtu

Morning Summary, Market Synopsis: 12th December, 2013

The market extended its losses in early trade on Thursday following weakness in global peers over Fed tapering fears, continuing fall for the third consecutive session. The Sensex fell 115.60 points to 21,055.81, and the Nifty declined 31.45 points to 6,276.45. Indian rupee fell further in opening trade on Thursday. It depreciated by 35 paise to 61.60 against the US dollar versus previous day's closing of 61.25 per dollar. QE tapering fears resurface ahead of the US Federal Reserve's policy meeting next week. Leading economists expect the Fed to kick start its taper plan as the US economy strengthens. Mid cap is higher by 0.06% and Smallcap is up by 0.08% as we write this. On sectional front, Power sector is higher by 0.50% and Auto leads the laggards with a decline of 0.89%.
Further the market breath stands negative with 713 advances against 831 declines.