Today a market is expected to have positive opening on firm global cues. US markets ended up on Tuesday and today Asian markets are trading higher. Tuesday, Indian market ended with handsome gains after paring its initial loses after mid afternoon session on news that banks were going to cut lending rates after their meeting with Finance Minister P. Chidambaram. Market lifted further as PSU banks have agreed to cut their prime lending rates by 75 basis points, which could be between 25-50%. Further, credit guarantee on loans will be extended to Rs 1 lakh crore and deposit rates will be cut by 50 basis points.
Market opened on weak note tracking mixed cues from the global markets. Further, stocks trimmed some of earlier loses but was still trading with negative bias. After mid session, market rebounded sharply from the initial fall on sustained buying interest in key stocks. From the sectoral front, stocks from the Realty, Banking, Power FMCG, Capital Goods and OIL & Gas sectors witnessed most of the buying interest, while selective selling pressure was seen in stocks from the IT and Teck sectors. We expect that market may gain further ground during the trading session.
The BSE Sensex closed higher by 293.44 points at 10,631.12 and NSE Nifty ended up by 98.25 points at 3,142.10. The BSE Mid Caps and Small Caps closed with gains of 90.68 points 3,446.22 and by 108.01 points at 4,035.11. The BSE Sensex touched intraday high of 10,668.48 and intraday low of 10,116.22.
Tuesday, the US markets ended higher on the Election Day with the S&P 500 index closes above 1,000 for first time in three weeks on the back of some better than expected quarterly earnings results and improvement in the credit market. Crude oil futures for the December delivery rose $ 6.62 to $70.53 a barrel on New York Mercantile Exchange after touching the high of $71.77.
The Dow Jones Industrial Average (DJIA) surged by 305.45 points to close at 9,625.28. The NASDAQ Composite (RIXF) index increased by 53.79 points to close at 1,780.12 and the S&P 500 (SPX) advanced 39.45 points to close at 1,005.75.
Indian ADRs ended up. In technology sector, Wipro ended higher by (5.25%) along with Infosys gained (4.84%) and Patni Computers ended up by (1.33%), while Satyam closed marginally lower by (0.83%). In banking sector ICICI Bank was up by (7.28%) and HDFC Bank gained (7.63%). In telecommunication sector, Tata Communication inclined by (5.60%) and MTNL was up by (7.03%). Sterlite Industries increased by (6.83%).
Today major stock markets in Asia are trading higher. Hang Seng is trading up by 753.12 points at 15,137.46. Further, Japan''s Nikkei gained 257.07 points at 9,371.67 and Singapore''s Straits Times added 88.77 points at 1,918.46. The South Korea’s Seoul Composite advanced 56.09 points at 1,209.44 and Taiwan Weighted gained 50.58 points at 5,043.21.
The FIIs on Tuesday stood as net buyer in equity and in debt. Gross equity purchased stood at Rs2483.30 Crore and gross debt purchased stood at Rs236.50 Crore, while the gross equity sold stood at Rs1721.60 Crore and gross debt sold stood at Rs190.00 Crore. Therefore, the net investment of equity and debt reported were Rs761.70 Crore and Rs46.50 Crore respectively.
On Tuesday, the Indian rupee ended at 47.69/71 0.2% stronger from 48.64/65 at close on Monday. India''s rupee recorded biggest singe-day gain since 1998 due to the further rise in domestic stock market and the unwinding of long dollar positions by banks.
On BSE, total number of shares traded was 38.87 Crore and total turnover stood at Rs. 4,431.22 Crore. On NSE, total volume of shares traded was 77.69 Crore and total turnover was Rs 11,415.33 Crore.
Top traded volumes on NSE Nifty – Suzlon Energy with total traded volume of 75734940 shares, followed by Unitech Ltd with 40646953 shares, RPL with 18187358 shares, Hindalco with 16314874 shares and Reliance Communication with 11238857 shares respectively.
On NSE Future and Options, total numbers of contracts traded in index futures were 780911 with a total turnover of Rs.11,128.10 Crore. Along with this total number of contracts traded in stock futures were 915690 with a total turnover of Rs.10,134.09 Crore. Total numbers of contracts for index options were 760232 and total turnover was Rs.11,975.80 Crore and total numbers of contracts for stock options were 45160 and notional turnover was Rs.520.54 Crore.
Today, Nifty would have a support at 3,094 and resistance at 3,330 and BSE Sensex has support at 10,413 and resistance at 11,205.
Market opened on weak note tracking mixed cues from the global markets. Further, stocks trimmed some of earlier loses but was still trading with negative bias. After mid session, market rebounded sharply from the initial fall on sustained buying interest in key stocks. From the sectoral front, stocks from the Realty, Banking, Power FMCG, Capital Goods and OIL & Gas sectors witnessed most of the buying interest, while selective selling pressure was seen in stocks from the IT and Teck sectors. We expect that market may gain further ground during the trading session.
The BSE Sensex closed higher by 293.44 points at 10,631.12 and NSE Nifty ended up by 98.25 points at 3,142.10. The BSE Mid Caps and Small Caps closed with gains of 90.68 points 3,446.22 and by 108.01 points at 4,035.11. The BSE Sensex touched intraday high of 10,668.48 and intraday low of 10,116.22.
Tuesday, the US markets ended higher on the Election Day with the S&P 500 index closes above 1,000 for first time in three weeks on the back of some better than expected quarterly earnings results and improvement in the credit market. Crude oil futures for the December delivery rose $ 6.62 to $70.53 a barrel on New York Mercantile Exchange after touching the high of $71.77.
The Dow Jones Industrial Average (DJIA) surged by 305.45 points to close at 9,625.28. The NASDAQ Composite (RIXF) index increased by 53.79 points to close at 1,780.12 and the S&P 500 (SPX) advanced 39.45 points to close at 1,005.75.
Indian ADRs ended up. In technology sector, Wipro ended higher by (5.25%) along with Infosys gained (4.84%) and Patni Computers ended up by (1.33%), while Satyam closed marginally lower by (0.83%). In banking sector ICICI Bank was up by (7.28%) and HDFC Bank gained (7.63%). In telecommunication sector, Tata Communication inclined by (5.60%) and MTNL was up by (7.03%). Sterlite Industries increased by (6.83%).
Today major stock markets in Asia are trading higher. Hang Seng is trading up by 753.12 points at 15,137.46. Further, Japan''s Nikkei gained 257.07 points at 9,371.67 and Singapore''s Straits Times added 88.77 points at 1,918.46. The South Korea’s Seoul Composite advanced 56.09 points at 1,209.44 and Taiwan Weighted gained 50.58 points at 5,043.21.
The FIIs on Tuesday stood as net buyer in equity and in debt. Gross equity purchased stood at Rs2483.30 Crore and gross debt purchased stood at Rs236.50 Crore, while the gross equity sold stood at Rs1721.60 Crore and gross debt sold stood at Rs190.00 Crore. Therefore, the net investment of equity and debt reported were Rs761.70 Crore and Rs46.50 Crore respectively.
On Tuesday, the Indian rupee ended at 47.69/71 0.2% stronger from 48.64/65 at close on Monday. India''s rupee recorded biggest singe-day gain since 1998 due to the further rise in domestic stock market and the unwinding of long dollar positions by banks.
On BSE, total number of shares traded was 38.87 Crore and total turnover stood at Rs. 4,431.22 Crore. On NSE, total volume of shares traded was 77.69 Crore and total turnover was Rs 11,415.33 Crore.
Top traded volumes on NSE Nifty – Suzlon Energy with total traded volume of 75734940 shares, followed by Unitech Ltd with 40646953 shares, RPL with 18187358 shares, Hindalco with 16314874 shares and Reliance Communication with 11238857 shares respectively.
On NSE Future and Options, total numbers of contracts traded in index futures were 780911 with a total turnover of Rs.11,128.10 Crore. Along with this total number of contracts traded in stock futures were 915690 with a total turnover of Rs.10,134.09 Crore. Total numbers of contracts for index options were 760232 and total turnover was Rs.11,975.80 Crore and total numbers of contracts for stock options were 45160 and notional turnover was Rs.520.54 Crore.
Today, Nifty would have a support at 3,094 and resistance at 3,330 and BSE Sensex has support at 10,413 and resistance at 11,205.
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