Today the Markets would open negative as the bearish sentiment that butchered the market yesterday would still haunt. The bulls come back for the support of the market is highly skeptical as the Sensex has breached the 12k mark. Further the major Asian markets have today opened negative. The fall in the European market has now become a major concern for Asian and US markets. Yesterday’s news about G8 countries’ meeting to support the economy in Europe brought negative sentiments across other markets and especially the US. The RBI’s CRR (Cash Reserve Ratio) cut by 50bps to 8.5% would pump in Rs200 billion in the financial market. This move by RBI fails to improve the sentiments in the market as the markets are now jolted by bearish sentiments across other Asian, European and US markets. As such it is very tough to gauge the bearishness at the current markets, which is breaking new lows every day.
On Monday, the Markets faced the biggest carnage in the past two years, as the Asian and European markets were slaughtered by the bears throughout the day. Since morning the domestic markets showed some sign of bearishness but later after the post mid session the bearish sentiment was augmented by the sharp falls in the European markets. European indices such as CAC 40, Dax and FTSE were down by 5-6% as concerns over the financial and credit market was negative. The market was further jolted when the German government, banks and insurance companies came out with a package of $68 billion to save the giant Hypo Real Estate. There was also news about BNP Paribas buying 75% stake in Fortis for $11.3 billion. The credit crunch across the world has brought a plague of bearishness in the markets around the world. In the domestic arena, sectors like CD, Realty, Metal and CG were brutally shattered by 11.01%, 9.91%, 9.27% and 7.27% respectively. During the trading session we expect the market to be range bound with negative bias.
The BSE Sensex closed at 11,801.70 registering a drastic fall of 724.62 points and NSE Nifty ended up by a fall of 215.95 points at 3,602.35. The BSE Mid Caps and Small Caps closed with loss of 333.57 points and 378.47 points at 4,344.23 and 5,086.93. The BSE Sensex touched intraday high of 12,284.49 and intraday low of 11,732.91.
On Monday, the US market crashed brutally on the back of concerns over the economic slow down in European and other markets. One of the major reasons for this huge fall in US was the headline that France proposed an emergency G8 meeting on the financial crisis. This news increased speculation that global central banks may make a coordinated rate cut to save the plummeting markets in Europe. Dow Jones fell below the 10k mark, which shows the worst scenario of investors’ bearish sentiments. Crude oil for November delivery fell by $4.42 to $87.56 per barrel on the New York Mercantile Exchange. The demand for crude oil in the last four weeks was the lowest in the past seven years. This fall could be attributed to the slow down in the manufacturing which was lowest since 2001 recession. There are anticipations in the market that the crude oil prices would further fall on demand concerns and economic slowdown.
The Dow Jones Industrial Average (DJIA) was low by 369.88 points at 9,955.50 along with NASDAQ index which was low by 84.43 points at 1,862.96 and the S&P 500 (SPX) also declined by 42.34 points to close at 1,056.89 points.
Indian ADRs ended down. In technology sector, Wipro closed lower by (6.12%) followed by Satyam that ended down by (13.51%) and Patni Computers by (7.85%). In banking sector ICICI Bank fell by (1.87%), while HDFC Bank lost (9.35%). In telecommunication sector, Tata Communication closed lower by (5.61%), while MTNL plunged (12.79%). Sterlite Industries fell the lowest by (17.15%).
Today the major stock markets in Asia opened negative amidst concerns of credit crisis in Europe and drastic all in US markets. The Shanghai Composite is low by 31.35 points and trading at 2,142.38. Further Japan''s Nikkei is low by 324.63 points at 10,148.46, Straits Times is flat at 2,168.63 and South Korea’s Seoul Composite was also flat at 1,358.31.
The FIIs on Monday stood as net sellers in equity and Debt. Gross equity purchased stood at Rs2785.30 Crore and gross debt purchased stood at Rs88.90Crore, while the gross equity sold stood at Rs3831.30 Crore and gross debt sold stood at Rs178.70 Crore. Therefore, the net investment of equity and debt reported were (Rs1046.00 Crore) and (Rs89.80 Crore) respectively.
On Monday, the partially convertible rupee ended at 47.80/81 per dollar, weakest since five and half years. The sharp selling in the Capital markets and the consequent fear of outflow of foreign funds brought the rupee to the lowest. On the other hand the depreciating rupee has also weighed the demand of dollar from the oil firms.
On BSE, total number of shares traded were 24.77 crores and total turnover stood at Rs3,992.08 Crore. On NSE, total volumes of shares traded were 48.97 crores and total turnover was Rs10,366.93 Crore.
Top traded volumes on NSE Nifty – ICICI Bank with total volume of 13382420 shares followed by ICICI Bank 9669524 shares, ITC 8182208 shares, Tata Steel 8152538 shares and SAIL 7655886 shares.
On NSE Future and Options, total number of contracts traded in index futures was 874326 with a total turnover of Rs15124.2 Crore. Along with this total number of contracts traded in stock futures were 773088 with a total turnover of Rs10890.96 Crore. Total number of contracts for index options was 991379 and total turnover was Rs19992.98 Crore and total number of contracts for stock options was 53782 and notional turnover was Rs845.09 Crore.
Today, Nifty would have a support at 3,510 and resistance at 3,715 and BSE Sensex has support at 11,580 and resistance at 12,110.
On Monday, the Markets faced the biggest carnage in the past two years, as the Asian and European markets were slaughtered by the bears throughout the day. Since morning the domestic markets showed some sign of bearishness but later after the post mid session the bearish sentiment was augmented by the sharp falls in the European markets. European indices such as CAC 40, Dax and FTSE were down by 5-6% as concerns over the financial and credit market was negative. The market was further jolted when the German government, banks and insurance companies came out with a package of $68 billion to save the giant Hypo Real Estate. There was also news about BNP Paribas buying 75% stake in Fortis for $11.3 billion. The credit crunch across the world has brought a plague of bearishness in the markets around the world. In the domestic arena, sectors like CD, Realty, Metal and CG were brutally shattered by 11.01%, 9.91%, 9.27% and 7.27% respectively. During the trading session we expect the market to be range bound with negative bias.
The BSE Sensex closed at 11,801.70 registering a drastic fall of 724.62 points and NSE Nifty ended up by a fall of 215.95 points at 3,602.35. The BSE Mid Caps and Small Caps closed with loss of 333.57 points and 378.47 points at 4,344.23 and 5,086.93. The BSE Sensex touched intraday high of 12,284.49 and intraday low of 11,732.91.
On Monday, the US market crashed brutally on the back of concerns over the economic slow down in European and other markets. One of the major reasons for this huge fall in US was the headline that France proposed an emergency G8 meeting on the financial crisis. This news increased speculation that global central banks may make a coordinated rate cut to save the plummeting markets in Europe. Dow Jones fell below the 10k mark, which shows the worst scenario of investors’ bearish sentiments. Crude oil for November delivery fell by $4.42 to $87.56 per barrel on the New York Mercantile Exchange. The demand for crude oil in the last four weeks was the lowest in the past seven years. This fall could be attributed to the slow down in the manufacturing which was lowest since 2001 recession. There are anticipations in the market that the crude oil prices would further fall on demand concerns and economic slowdown.
The Dow Jones Industrial Average (DJIA) was low by 369.88 points at 9,955.50 along with NASDAQ index which was low by 84.43 points at 1,862.96 and the S&P 500 (SPX) also declined by 42.34 points to close at 1,056.89 points.
Indian ADRs ended down. In technology sector, Wipro closed lower by (6.12%) followed by Satyam that ended down by (13.51%) and Patni Computers by (7.85%). In banking sector ICICI Bank fell by (1.87%), while HDFC Bank lost (9.35%). In telecommunication sector, Tata Communication closed lower by (5.61%), while MTNL plunged (12.79%). Sterlite Industries fell the lowest by (17.15%).
Today the major stock markets in Asia opened negative amidst concerns of credit crisis in Europe and drastic all in US markets. The Shanghai Composite is low by 31.35 points and trading at 2,142.38. Further Japan''s Nikkei is low by 324.63 points at 10,148.46, Straits Times is flat at 2,168.63 and South Korea’s Seoul Composite was also flat at 1,358.31.
The FIIs on Monday stood as net sellers in equity and Debt. Gross equity purchased stood at Rs2785.30 Crore and gross debt purchased stood at Rs88.90Crore, while the gross equity sold stood at Rs3831.30 Crore and gross debt sold stood at Rs178.70 Crore. Therefore, the net investment of equity and debt reported were (Rs1046.00 Crore) and (Rs89.80 Crore) respectively.
On Monday, the partially convertible rupee ended at 47.80/81 per dollar, weakest since five and half years. The sharp selling in the Capital markets and the consequent fear of outflow of foreign funds brought the rupee to the lowest. On the other hand the depreciating rupee has also weighed the demand of dollar from the oil firms.
On BSE, total number of shares traded were 24.77 crores and total turnover stood at Rs3,992.08 Crore. On NSE, total volumes of shares traded were 48.97 crores and total turnover was Rs10,366.93 Crore.
Top traded volumes on NSE Nifty – ICICI Bank with total volume of 13382420 shares followed by ICICI Bank 9669524 shares, ITC 8182208 shares, Tata Steel 8152538 shares and SAIL 7655886 shares.
On NSE Future and Options, total number of contracts traded in index futures was 874326 with a total turnover of Rs15124.2 Crore. Along with this total number of contracts traded in stock futures were 773088 with a total turnover of Rs10890.96 Crore. Total number of contracts for index options was 991379 and total turnover was Rs19992.98 Crore and total number of contracts for stock options was 53782 and notional turnover was Rs845.09 Crore.
Today, Nifty would have a support at 3,510 and resistance at 3,715 and BSE Sensex has support at 11,580 and resistance at 12,110.
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