Markets have closed marginally higher amid volatility led by buying among defensive sectors like pharma and IT shares. However, selling pressure in select metal, auto and bank shares capped the upside gains.
Shares of IT companies are in an uptrend for past couple of weeks as the rupee weakened against the US dollar.IT Index has moved up 8.25 per cent since October 27 and the trend is expected to continue if the rupee stays at current levels or depreciates further.
The 30-share Sensex ended higher 35 points at 28,068 while the Nifty gained 20 points at 8,402.
The broader markets under performed by BSE Mid-cap and Small-cap ended marginally negative.
Indian rupee was trading at 62.02 vs Wednesday’s close of 61.96/97. The Indian unit had earlier fallen to as much as 62.22, the lowest level since Feb 20.
The Indian stock market swinging between negative and positive zone. The nifty index is in uptrend On closing basis if it breach its important support of 8280 , the trend will shift in favor of bear’s. For day trading important support for the bulls would be around 8390 and if it falls further next important support is around 8340. On upside 8468 and 8480 will remain.
Sensex is in an upside moment, trade above 28100 level. Volatility seeing continue in sensex index . Sensex is up 30.72 pts or 0.10% at 28194.48 led by gains of hindalco, Bajaj auto , ITC, Bharti airtel.
On the losing side,cipla, Tata Motors, GAIL, Axis Bank,coal india, HDFC Bank, Sun Pharma, M&M and Infosys have declined between 1-2%.
Realty , Fmcg index supporting the up market it surge more than 1%,
ACC Ltd is a ‘SELL’ call with a target of Rs 1470 and a stop loss of Rs 1506
Indian equity market opened higher note , both index is trading in higher note.
NSE Nifty is up about 0.27% , or 23.10 points, to 8,459.35. Both indices made fresh intra-day highs early.
S&P BSE Sensex was at 28,226.03, is up 495.90 points or 0.34% . It touched a lifetime high of 28,260.66 and a low of 28,177.30 in trade today.
Bullish stocks- sesa sterllite 3.43%, PNB 2.85%, Jindal stell 2.01%, Gail 1.81%, Bharti airtel 2.12%, M&M 1.58%, NTPC 1.30%.tata steel 1.28%,
Bearish stocks- HDFC 1.60%, Asian paints 0.82%, cipla 0.86%, DLF 0.86%, Infosys 0.96%,
NIFTY FUTURE INTRADAY LEVEL
Nifty future is currently is sideways trend , yesterday the trend was strong bull side .
Stock market trade on a flat note today, after a high range market nifty and sensex comes again flat. Rupee trades at 61.71 down 1 paisa, and close to a one-month low
The S&P BSE Sensex managed to recoup intraday losses and was trading above its crucial psychological level of 28000.
The Nifty was at 8374, down 15 points or 0.18% . It touched a high of 8382.60 and a low of 8361.55 in trade today.
M&M Financial is a ‘BUY’ call with a target of Rs 335 and a stop loss of Rs 311.
Tata Motors Ltd surged as much as 2.9% in trade on Monday.
Bullish stock- Asian paints 2.56%, Hero motocorp 1.18%, IDFC 1.36%, NTPC 1.33%, PNB 1.25%, SBI 2.81%,
Bearish stock- DLF 2.04%, Jindal steel 1.77%, M&M 1.02%, Sun pharma 1.21%, Tech mahindra 1.31%,
Continuing decline in food prices, including vegetables, pulled wholesale price inflation to a five year low of 1.77% in October.
The Wholesale Price index (WPI) based inflation was at 2.38% in September and 7.24% in October 2013.
As per data released by the government today, the food inflation fell to a nearly two-and-half year low of 2.7%. Food inflation is on decline since May.
The sharp drop in WPI inflation, which fell for the fifth month in a row, came at the back of retail inflation declining to a record low of 5.52% in October.
Inflation in the fuel and power segment which include LPG, petrol and diesel declined to 0.43% as compared to price rise of 1.33% in September.
In case of vegetables, the contraction was 19.61%, while in protein rich items of egg, meat and fish it was 2.58% in October.
During the month, inflation in potato stood at 82.11%, against 90.23% in the previous month.
The market has slipped today, The nifty is closed down 22.80 pts or 0.28% at 8360.95 and the sensex is closed down 62.31 pts or 0.22% at 27946.59 led by loses of Oil & gas and realty stocks are dragging the indices. HPCL and BPCL are down 5-6% each.
The government hiked the excise duty on petrol and diesel prices by Rs 1.50 per litre.
Hcl tech up 2.44%, infosys up 1.77%, Lupin up 1.08%, power grid corp above 1.19%, Cipla up 0.87%, Bharti airtel up 0.93% are the top gainers.
Bpcl down 4.55% , cairn india fall 3.60% , NMDC down 3.08%, PNB fall 2.01%, Tata power down 2.53% are the major losers of today.
Indian stock market continue to trade record high nifty touched the 8400 level led by gains auto , banks. Up 38.40 pts or 0.46% at 8401.05. we believe the consolidation may continue in near term due to lack of triggers, but the market in long term may see more than 9000 level on the nifty.
Bank nifty is supporting to nifty index, Bank nifty gains 0.95% at 17554.75 .auto shares with tata motors and Baja Auto gaining around 2.7% each leading the pack.
Amtek Auto Ltd Buy target of Rs 215 and a stop loss of Rs 183.
The fall of Brent crude prices to a four-year low due to supply glut has seen fresh buying in oil & gas shares too. Reliance, ongc and gail have gained around 0.2% each.
The rupee is trading at 61.53 vs Tuesday’s close of 61.55 against US Dollar ahead of the cpi data.
The Sensex is up 63.60 points at 27937.25 it touched intraday highs of 27,994.76 and a low of 27,909.62 and the Nifty is up 19.85 points at 8354.10.It touched intraday highs of 8376.45 and the intraday lows of 8353.25 in early trade.
NIFTY ANALYSIS AND LEVELS FOR TODAY – Nifty closed on a slight bull note at 8344 level , So today on upside first resistance is at 8365-70 level.Next resistance are at 8387-92,8423-28,8443-48,8463-68, level On downside first support is at 8322-17 level.Next support are at 8301-96,8265-60,8245-40,8225-20,8167-62,8116-11,8075-70,8
|Company||Prev Close (Rs)||Current Price (Rs)||% Change|
|GAIL (India) Ltd.||481.1||488.50||+1.54|
|Mahi. & Mahi||1230.9||1,249.00||+1.47|
|Company||Prev Close (Rs)||Current Price (Rs)||% Change|
|Bharat Heavy Ele||250.9||244.75||-2.45|
The Indian stock market opened positive but flat today , The Nifty has touched another new high. The nifty is at 8331.65 , down 5.35 points or 0.06% and the Sensex is down 25.62% or 0.09% at 27843.01.
The Indian rupee started the trade on a positive note. The currency climbed 19 to 61.43 per dollar against Friday’s closing of 61.62. Dollar.
L&T is down 2% after it disappointed investors with its September quarter results.
Shares of Sun Pharmaceutical Industries and ranbaxy laboratries have hit their respective lifetime high and are up over 4% each on NSE.
ACC Ltd BUY target of Rs 1530 and a stop loss of Rs 1492
lupin BUY target of Rs 1485 and a stop loss of Rs 1394.