The Indian stock market ended lower on Wednesday, extending losses to a third successive session, as foreign institutional investors pressed sales on the back of recent weak economic data.
Last Friday's industrial output data for February and the data released by the government on Tuesday that showed wholesale price inflation to have risen at the fastest pace since December, proved strong enough triggers for investors to press sales. A weak report on Chinese GDP growth and caution ahead of key results contributed as well to the market's sharp decline.
The BSE benchmark Sensex ended the session with a loss of 207.70 points or 0.92% at 22,277.23, around 30 points off the day's low of 22,247.39. The Nifty index of the National Stock Exchange, which declined to 6665.15, closed at 6675.30, recording a loss of 57.80 points or 0.86%.
Intraday Stock Tips for Tomorrow (10th April 2014)
BUY Delta Corp at 105 with a TARGET of 107 and a stop loss of 105.
BUY Escorts at 128 with TARGET of 131 and stop loss of 126.
BUY Axis Bank at 1500 with TARGET of 1530 and stop loss of 1475.
Visit the blog daily to get Best and Accurate Stock and Commodity Tips.
BUY Escorts at 128 with TARGET of 131 and stop loss of 126.
BUY Axis Bank at 1500 with TARGET of 1530 and stop loss of 1475.
Visit the blog daily to get Best and Accurate Stock and Commodity Tips.
Nifty Tips and Trend for Tomorrow (9th April 2014)
The Indian stock market ended on a buoyant note on
Wednesday, with the key indices Sensex and the Nifty hitting new all-time highs
amid frenzied buying in the closing minutes.
A firm trend in Asian and European markets, a positive
report on India's growth prospects from the International Monetary Fund and
expectations of a business friendly government post the ongoing Lok Sabha
elections drove stock prices up sharply in the final hour.
The Sensex, which soared to a new lifetime high at
22,740.04, ended at 22,702.34, gaining 358.89 points or 1.61%. The Nifty closed
at 6796.20, off a new all-time high of 6808.70, recording a gain of 101.15
points or 1.51%.
In the FOREX market, the rupee was last seen hovering around
60.10 against the U.S. dollar. It opened at 59.98 a dollar, up 13 paise from
previous close.
According to reports, the International Monetary Fund
expects India’s economy to expand 5.4% in 2014-15 and acclerate to a pace of
6.4% in the following year.
Bank stocks hogged the limelight in late afternoon trade.
Mirroring strong buying in that space, the BSE Bankex spurted nearly 3.5%.
Metal, healthcare, realty, power and automobile stocks too mostly ended with
handsome gains.
Oil, consumer durables and select FMCG stocks too closed
notably higher. Information technology stocks traded weak. Besides several
large cap stocks, scores of midcap and smallcap stocks ended with handsome
gains.
Among Sensex stocks, only Infosys , Tata Consultancy
Services, Wipro and ONGC ended on the negative side. These stocks lost 0.4% -
1.2% from their previous closing levels.
Sun Pharmaceutical Industries ended nearly 7% up, extending
previous session's gains. The stock has been attracting buyers following the
company's announcement about its plans to acquire Ranbaxy Laboratories in an
all-stock deal. Ranbaxy Laboratories too closed on a high note.
Cipla, Dr Reddy's Laboratories, Lupin, Aurobindo Pharma and
Piramal Enterprises also closed notably higher.
Axis Bank, ICICI Bank, State Bank of India and HDFC Bank
gained 2.5% - 4.5%. Several other bank stocks, including Federal Bank, Union
Bank of India, Kotak Bank, IndusInd Bank, Punjab National Bank, Canara Bank,
Bank of Baroda, Bank of India, IDBI Bank, Andhra Bank and Syndicate Bank too
closed with impressive gains.
Metal stocks Hindalco, Tata Steel, Sesa Sterlite, Coal India
and SAIL moved up sharply.
Tata Motors ended 4.4% up. HDFC, GAIL India, BHEL, Reliance
Industries, Sesa Sterlite, Maruti Suzuki, Larsen & Toubro, Mahindra &
Mahindra and Tata Power also closed notably higher.
DLF, Cairn India, NMDC, Asian Paints, Ambuja Cements and
BPCL ended with sharp to moderate gains.
Tech Mahindra lost around 3%. HCL Technologies ended 2%
down. United Spirits and ACC ended modestly lower.
The market breadth was strong. Out of 2860 stocks traded on
BSE, 1873 stocks moved up. 877 stocks declined and 110 stocks ended flat.
Nifty Tips and Trend for Tomorrow (1st July 2013)
Markets ended the week with a strong move on Friday.
Today's move was on the back of the Government reforms initiative of increasing
gas prices and setting up of a coal regulator. Stocks across sectors gained
with most Sensex/Nifty stocks ending in the green. Metals, financials and oil
shares gained the most. For the week, markets ended more than 3% higher,
largely on the back of Friday's gains. The Sensex touched a high of 19,432.94
points and low of 19,093.18 points in the intra-day.The wider 50-scrip S&P CNX Nifty of the National Stock Exchange (NSE)
surged 2.81 percent or 159.85 points to 5,842.20 points. There was a strong buying support in oil
and gas stocks after the government approved a proposal to almost double gas
prices. The move is likely to help the companies like Reliance Industries and ONGC involved in gas production.
We have been consistently maintaining
that government reform initiatives can lead to a sustainable rise in the markets.
Thursday's announcements on gas prices and setting up of a coal regulator are
positive for the long-term development of these core sectors. We believe that,
further initiatives to remove administrative and procedural obstacles in other
investment-led sectors could lead to further positive sentiments in the
markets.
Nifty Prediction
for Monday
Rate cut by RBI
after wholesale price raised helped market to move up from losing track on
Friday. BSE SENSEX rallied 350 points and NSE NIFTY move 109 points.
Nifty may take
resistance at 5968.164 and support at 5835.071 on Monday. Technically Market is
slightly in bearish mode. Weak Rupee and weak global trend may upset
market. Foreign investors continuously sold shares which tends to
negative impact on market condition.
Bearish Sectors:
PSU Banks, Realty, Finance, Media, Metal.
Stocks to Buy:
Reliance, LUPIN, RANBAXY, HCL Tech, Infosys, Coal India
Nifty Tips and Trend for Tomorrow (19th August '11)
The markets slipped over 2% in the last leg of trade following heavy selling in front-line IT and banking shares as concerns of global growth slowing down weighed on investor sentiment.
The Nifty opened flat, but wilted under selling pressure soon after. The index cracked the 5,000-mark, and touched a low of 4,932.15 during the last half an hour of trade. The Nifty finally closed near day’s low at 4,944.15, down 112.45 points and the Sensex ended at 16,469.79, down 371.01 points or -2.20 %.
Nifty Futures shut stop at 4931.10 down by -136.65 points or -2.68 %. It is looking bearish in the coming trading session if it manages to trade below the support level of 4925 else above resistance level of 5140 it would be in an upward trend.
RESISTANCE: It has first resistance close to the level of 5140 & above this level the next resistance is seen near the 5230 mark.
SUPPORT: It has first support close to the level of 4925 & below this level the next support is seen near 4775 mark.
Bank Nifty Tips and Forecast for Tomorrow (19th August '11)
In banking, CNX Bank Index lost -351.70 points or -3.53 %. Amongst the banking stocks UCO Bank, United Bank of India and Indian Bank lead the row.
Bank Nifty Futures shut stop at 9552.90 down by -402 points or -4.04 %. It is looking bearish in the coming trading session if it manages to trade below the support level of 9540 else above resistance level of 9990 it would be in an upward trend.
RESISTANCE: It has first resistance close to the level of 9990 & above this level the next resistance is seen near the 10195 mark.
SUPPORT: It has first support close to the level of 9540 & below this level the next support is seen near 9275 mark.
Stock Market Updates for Today (18th August '11)
It was a day out in the red on Thursday for several stocks from across various sectors as investors resorted to some heavy selling almost right through the session, tracking global cues.
Worries about the global economy on the back of near term uncertainty in the U.S., lingering concerns about the state of affairs in the euro zone and fears of another rate hike back home despite somewhat easing inflation, all contributed to the sell-off today.
The Sensex, which plunged to 16,433.31, ended the day at 16,469.79 with a big loss of 371.01 points or 2.2%.
The Nifty settled at 4944.15, slightly off the day's low of 4932.15, recording a loss of 112.45 points or 2.22%.
Nifty Tips and Trend for Tomorrow (17th August '11)
Benchmarks ended in the negative territory but off day's low after institutional investors turned sellers in the last half an hour of trade. Weak cues from Europe, US and concerns of possible rate hike by the RBI pushed bulls on the back foot. India's WPI inflation for the month of July eased slightly to 9.22 percent against 9.44 per cent a month ago. May WPI inflation has been revised upwards to 9.56 per cent vs 9.06 per cent. The inflation level remains stubbornly above the comfort levels. The S&P CNX Nifty closed at 5035.80, down by -37.15 points or -0.73 %.
Nifty Futures shut stop at 5040 down by -39.85 or -0.78 %. It is looking bearish in the coming trading session if it manages to trade below the support level of 5000 else above resistance level of 5140 it would be in an upward trend.
RESISTANCE: It has first resistance close to the level of 5140 & above this level the next resistance is seen near the 5235 mark.
SUPPORT: It has first support close to the level of 5000 & below this level the next support is seen near 4950 mark.
Bank Nifty Tips and Forecast for Tomorrow (17th August '11)
In banking, CNX Bank Index lost -124.40 points or 1.19 %. Amongst the banking stocks Dhanlaxmi Bank, Axis Bank and Bank of Baroda lead the row.
Bank Nifty Futures shut stop at 10085 down by -126.30 points or -1.24 %. It is looking bearish in the coming trading session if it manages to trade below the support level of 10015 else above resistance level of 10315 it would be in an upward trend.
Bank Nifty Futures shut stop at 10085 down by -126.30 points or -1.24 %. It is looking bearish in the coming trading session if it manages to trade below the support level of 10015 else above resistance level of 10315 it would be in an upward trend.
RESISTANCE: It has first resistance close to the level of 10315 & above this level the next resistance is seen near the 10525 mark.
SUPPORT: It has first support close to the level of 10015 & below this level the next support is seen near 9930 mark.
Stock Market Updates for Today (16th August '11)
Erasing early gains, the Bombay Stock Exchange benchmark Sensex fell nearly 109 points on Tuesday as funds sold on fears of hike in interest rate amid high inflation and weak global markets.
The Sensex, which had climbed to 17,035.49 in the morning trade, gaining 187 points, fell back to end with a loss of 108.69 points at 16,730.94 on fears that RBI might hike key interest rates to curb inflation as it remained over 9 per cent for July.
Brokers said the nominal decline in inflation to 9.22 per cent in July, from a 9.44 per cent in June, was not enough to avert fears of further hike in interest rates.
The broad-based National Stock Exchange index Nifty lost 37.15 points to 5,035.80, after climbing to 5,132.20 as stocks in metals, realty, bank and oil and gas sector fell.
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