Global markets rally consolidates as overbought indices see profit booking even as oil leads commodity rally with base metals joining in.

Indian Indices:Asian indices opened with minor losses as profit booking is the theme across the board as markets consolidate. US stocks recovered from over 140 points loss intraday to close marginally lower as ‘buy the fall’ is the current trend globally. Oil prices headed higher leading base metals also to rally strongly.

Nifty hit 9450 with foreign investors now turning big buyers while local funds turned sellers as banks led the indices lower. Select Auto, Media and Metal stocks aided the Nifty hit new highs while Gas Utilities, Private Banks and Financial Services stocks dragged the index lower. For today, expect consolidation on the index while stock/sector out performance continuing.

The BSE Sensex is currently trading at 30202.72, down by 48.26 points or 0.16% after trading in a range of 30152.23 and 30299.74. There were 13 stocks advancing against 17 stocks declining on the index.

The broader indices were trading in red; the BSE Mid cap index was down by 0.51%, while Small cap index lost 0.46%.

The CNX Nifty is currently trading at 9402.65, down by 19.75 points or 0.21% after trading in a range of 9384.05 and 9437.75. There were 20 stocks advancing against 31 stocks declining on the index.MARKET INDICATORS•

Group ATopGainers

CompanyPrice (Rs)% chg

Navkarcorp234.009.17

Adanitrans88.355.68

Relinfra613.803.69

Gmdcltd134.803.49

Group ATopLosers

Glenmark782.15-13.51

Yesbank1530.25-3.10

Arvind396.00-2.86

Zeel529.80-2.85

INDEX PERFORMANCE

IndicesSupportResistanes

Sensex3006530350

Nifty93559436

 

Technical view: Nifty finds strong support around 9370 while 9470 will act as resistance on the upside. Bank Nifty faces strong resistance around 23000 while 22700 will act as support on the downside.

Bajaj Finserv (BUY Above 4496 with Stop Loss at 4420 for Target of 4620): After being under pressure for over three consecutive trading sessions. The stock has managed to hold above its previous low of Rs 4270 and has shown signs of recovery. The rebound has been accompanied with increase in volumes too. Other momentum oscillators also indicate that the current recovery is likely to extend further.

Derivative Snippets

In the last trading session, closing hour selling dragged the indices lower. Nifty ATM call option strike continued to see short covering while OTM put option strikes remained under selling pressure for a major part of the trading session.

FIIs were net buyers in cash market segment to the tune of Rs 1307 Cr.

FIIs index future long short ratio at 2.3x v/s 2.5x.

FIIs index future long short ratio at 2.5x v/s 2.8x.

 

Nifty Movers: The top gainers on Nifty were Infosys up by 1.48%, Coal India up by 1.39%, Hero MotoCorp up by 1.28%, ONGC up by 1.17% and Tech Mahindra up by 0.98%. On the flip side, Asian Paints down by 2.64%, Zee Entertainment down by 2.18%, BhartiInfratel down by 2.08%, Indiabulls Housing Finance down by 1.78% and ICICI Bank down by 1.55% were the top losers.

Top Sectoral& Stock Screening: The top gaining sectoral indices on the BSE were IT up by 0.73%, Metal up by 0.58%, TECK up by 0.35%, Capital Goods up by 0.20%, Power up by 0.16%, while Healthcare down by 1.02%, Telecom down by 0.58%, Consumer Disc down by 0.52%, Bankex down by 0.37%, Consumer Durables down by 0.36% were the losing indices on BSE.

 

 

 

 

 

 

 

On the global front: On the global front, The Asian markets overlooking the sluggish trend in the US markets have moved higher, with the surge in the international crude oil prices. While most of the sectoral indices are in green, there is some somberness in the power sector, as PiyushGoyal, of subsidy. Though, he dismissed any suspicion about UjjwalDiscom Assurance Yojana or UDAY hitting a roadblock.

 

Global Signals: The Asian markets are showing mixed trend, FTSE Bursa Malaysia KLCI was up by 1.12 points or 0.06% to 1,776.5, Shanghai Composite gained 11.99 points or 0.39% to 3,073.49, Hang Seng was higher by 19.02 points or 0.08% to 25,144.57 and Jakarta Composite added 26.39 points or 0.47% to 5,679.39.On the other hand, Nikkei 225 declined by 114.13 points or 0.57% to 19,847.42, Taiwan Weighted was lower by 27.49 points or 0.27% to 9,973.99 and KOSPI Index decreased by 9.8 points or 0.43% to 2,286.57.

Indian Indices:Asian indices opened with minor losses as profit booking is the theme across the board as markets consolidate. US stocks recovered from over 140 points loss intraday to close marginally lower as ‘buy the fall’ is the current trend globally. Oil prices headed higher leading base metals also to rally strongly.

Nifty hit 9450 with foreign investors now turning big buyers while local funds turned sellers as banks led the indices lower. Select Auto, Media and Metal stocks aided the Nifty hit new highs while Gas Utilities, Private Banks and Financial Services stocks dragged the index lower. For today, expect consolidation on the index while stock/sector out performance continuing. 

The BSE Sensex is currently trading at 30202.72, down by 48.26 points or 0.16% after trading in a range of 30152.23 and 30299.74. There were 13 stocks advancing against 17 stocks declining on the index.

The broader indices were trading in red; the BSE Mid cap index was down by 0.51%, while Small cap index lost 0.46%.

The CNX Nifty is currently trading at 9402.65, down by 19.75 points or 0.21% after trading in a range of 9384.05 and 9437.75. There were 20 stocks advancing against 31 stocks declining on the index.

MARKET INDICATORS

·           

 

Group ATopGainers

 

 

Company

Price (Rs)

% chg

Navkarcorp

234.00

9.17

Adanitrans

88.35

5.68

Relinfra

613.80

3.69

Gmdcltd

134.80

3.49

Group ATopLosers

 

 

Glenmark

782.15

-13.51

Yesbank

1530.25

-3.10

Arvind

396.00

-2.86

Zeel

529.80

-2.85

INDEX PERFORMANCE

 

 

Indices

Support

Resistanes

Sensex

30065

30350

Nifty

9355

9436

Technical view: Nifty finds strong support around 9370 while 9470 will act as resistance on the upside. Bank Nifty faces strong resistance around 23000 while 22700 will act as support on the downside.

Bajaj Finserv (BUY Above 4496 with Stop Loss at 4420 for Target of 4620): After being under pressure for over three consecutive trading sessions. The stock has managed to hold above its previous low of Rs 4270 and has shown signs of recovery. The rebound has been accompanied with increase in volumes too. Other momentum oscillators also indicate that the current recovery is likely to extend further.

Derivative Snippets

In the last trading session, closing hour selling dragged the indices lower. Nifty ATM call option strike continued to see short covering while OTM put option strikes remained under selling pressure for a major part of the trading session.

FIIs were net buyers in cash market segment to the tune of Rs 1307 Cr.

FIIs index future long short ratio at 2.3x v/s 2.5x.

FIIs index future long short ratio at 2.5x v/s 2.8x.

 

Nifty Movers: The top gainers on Nifty were Infosys up by 1.48%, Coal India up by 1.39%, Hero MotoCorp up by 1.28%, ONGC up by 1.17% and Tech Mahindra up by 0.98%. On the flip side, Asian Paints down by 2.64%, Zee Entertainment down by 2.18%, BhartiInfratel down by 2.08%, Indiabulls Housing Finance down by 1.78% and ICICI Bank down by 1.55% were the top losers.

 

Top Sectoral& Stock Screening: The top gaining sectoral indices on the BSE were IT up by 0.73%, Metal up by 0.58%, TECK up by 0.35%, Capital Goods up by 0.20%, Power up by 0.16%, while Healthcare down by 1.02%, Telecom down by 0.58%, Consumer Disc down by 0.52%, Bankex down by 0.37%, Consumer Durables down by 0.36% were the losing indices on BSE.

 

 

On the global front: On the global front, The Asian markets overlooking the sluggish trend in the US markets have moved higher, with the surge in the international crude oil prices. While most of the sectoral indices are in green, there is some somberness in the power sector, as PiyushGoyal, of subsidy. Though, he dismissed any suspicion about UjjwalDiscom Assurance Yojana or UDAY hitting a roadblock.

 

 

Global Signals: The Asian markets are showing mixed trend, FTSE Bursa Malaysia KLCI was up by 1.12 points or 0.06% to 1,776.5, Shanghai Composite gained 11.99 points or 0.39% to 3,073.49, Hang Seng was higher by 19.02 points or 0.08% to 25,144.57 and Jakarta Composite added 26.39 points or 0.47% to 5,679.39.On the other hand, Nikkei 225 declined by 114.13 points or 0.57% to 19,847.42, Taiwan Weighted was lower by 27.49 points or 0.27% to 9,973.99 and KOSPI Index decreased by 9.8 points or 0.43% to 2,286.57.

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