The Indian Market is expected to have negative opening on weak global cues as US markets closed lower and Asian markets are trading weak. On Monday, the market closed with losses after showing volatility during the trading session on domestic concerns like inflation worries. The domestic market opened weak tracking unfavorable cues from the Asian markets. Further market gained some ground and tried to recover but was not able to sustain the momentum and continued to slip further till end. Weak Asian and European markets also added to negative sentiments. From the scrotal front, most of the indices closed in red and among that, Metal, Oil & Gas, Consumer Durable, Capital goods, Auto and Power stocks were major sufferers as most of the selling was seen from these baskets. However, IT index was in limelight as witnessed most of the buying from this basket. The BSE Sensex closed lower by 78.52 points at 14,645.66 and NSE Nifty ended down by 37.65 points at 4,393.05. The BSE Mid Caps closed with losses of 41.62 points at 5,781.801 and Small Cap ended lower by 73.83 points 7,036.61. We expect that market may extend its losses during the trading session.
On Monday, the US market was closed lower on financial worries. Crude oil closed at $112.87 a barrel on the New York Mercantile Exchange. It settled below $113 per barrel for the first time in over three months. The Dow Jones Industrial Average (DJIA) closed lower by 180.51 points to close at 11,479.39. The NASDAQ index decreased by 35.54 points to close at 2,416.98 and the S&P 500 (SPX) fell 19.60 points to close at 1,278.60.
Indian ADRs ended down. In technology sector, Infosys ended lower by (1.79%) followed by Wipro dropped by (1.46%), Satyam by (1.26%) and Patni Computers by (1.05%). In banking sector ICICI bank and HDFC Bank lost (4.02%) and (2.26%). In telecommunication sector, MTNL dropped by (5.06%) along with Tata Communication lost (3.31%). However, Sterlite industries decreased by (2.79%).
Today the major stock markets in Asia are trading weak following the sell off on Wall Street overnight. Japan’s Nikkei is trading lower by 349.02 points at 12,816.43, Hang Seng index trading down by 193.50 points at 20,736.17, Taiwan Weighted trading 6,961.26 dropped by 39.48 points and Singapore''s Straits Times is down by 34.79 points at 2,742.19.
The FIIs on Monday stood as net seller in equity and in debt. The gross equity purchased was Rs1,834.20 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs2,230.50 Crore and gross debt sold stood at Rs97.20 Crore. Therefore, the net investment of equity reported was (Rs396.30) Crore and net debt was (Rs97.20) Crore.
The Indian currency crashed to its lowest close since 29th March 2007. The rupee weakened 1.3% to close at 43.59/60 than 43.01/02 at close on Thursday after recovering slightly from a intraday low of 43.70, per dollar that is its lowest since 29th March 2008.
Today, Nifty has support at 4,245 and resistance at 4,461 and BSE Sensex has support at 14,236 and resistance at 14,918.
On Monday, the US market was closed lower on financial worries. Crude oil closed at $112.87 a barrel on the New York Mercantile Exchange. It settled below $113 per barrel for the first time in over three months. The Dow Jones Industrial Average (DJIA) closed lower by 180.51 points to close at 11,479.39. The NASDAQ index decreased by 35.54 points to close at 2,416.98 and the S&P 500 (SPX) fell 19.60 points to close at 1,278.60.
Indian ADRs ended down. In technology sector, Infosys ended lower by (1.79%) followed by Wipro dropped by (1.46%), Satyam by (1.26%) and Patni Computers by (1.05%). In banking sector ICICI bank and HDFC Bank lost (4.02%) and (2.26%). In telecommunication sector, MTNL dropped by (5.06%) along with Tata Communication lost (3.31%). However, Sterlite industries decreased by (2.79%).
Today the major stock markets in Asia are trading weak following the sell off on Wall Street overnight. Japan’s Nikkei is trading lower by 349.02 points at 12,816.43, Hang Seng index trading down by 193.50 points at 20,736.17, Taiwan Weighted trading 6,961.26 dropped by 39.48 points and Singapore''s Straits Times is down by 34.79 points at 2,742.19.
The FIIs on Monday stood as net seller in equity and in debt. The gross equity purchased was Rs1,834.20 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs2,230.50 Crore and gross debt sold stood at Rs97.20 Crore. Therefore, the net investment of equity reported was (Rs396.30) Crore and net debt was (Rs97.20) Crore.
The Indian currency crashed to its lowest close since 29th March 2007. The rupee weakened 1.3% to close at 43.59/60 than 43.01/02 at close on Thursday after recovering slightly from a intraday low of 43.70, per dollar that is its lowest since 29th March 2008.
Today, Nifty has support at 4,245 and resistance at 4,461 and BSE Sensex has support at 14,236 and resistance at 14,918.
No comments:
Post a Comment