Today Markets are likely to open with a negative gap as US markets have shattered brutally and other Asian markets.have also opened with blood bath. The US economy has been under recession since December 2007 and many economic reforms taking place now has a minimal effect. Markets would follow the trend prevailing in other Asian and European markets. Hence once could anticipate thin trading today with a negative trend.
On Monday, the markets opened with positive gains but could not hold the firmness due to profit booking. After the post mid session, the markets nose dived into the red territory showing signs of huge volatility. The European markets also opened with heavy sell-off and therefore majority of Asian markets followed that trend. Domestic auto sales numbers for the month of November were very weak and hence companies like Matuti Suzuki, Hero Honda, M&M and Tata Motors fell drastically. Sensex closed with a loss of 2.78% whereas, Nifty shed 2.62% respectively. Realty, Auto, CD and Bankex felt the selling heat as they slashed by 5.347%, 4.64%, 4.47% and 3.87% respectively. During the trading session we expect the market to be trading in deep red.
The BSE Sensex closed low by 252.85 points at 8,839.87 and NSE Nifty ended lower by 72.20 points at 2,682.90. The BSE Mid Caps and Small Caps ended with losses of 39.29 points and 6.88 points at 2,846.47 and 3,297.73. The BSE Sensex touched intraday high of 9,326.68 and intraday low of 8,803.34.
On Monday, the US markets were brutally shattered as US economy has officially entered into recession since December 2007. The November ISM Index, a national manufacturing survey, declined to 36.2 from the October reading of 38.9. This was worse than the consensus estimate of 37.0 and, represents the most contraction in U.S. manufacturing since 1982. US Fed Reserve chairman Ben Bernanke said that US economy remains under stress despite bailouts and efforts of policy makers. Crude oil on New York Mercantile Exchange for January fell 84 cents to $48.44 a barrel. OPEC has postponed cutting the oil production till the next meeting.
The Dow Jones Industrial Average (DJIA) closed lower by 679.95 points at 8,149.09 NASDAQ index lost 137.50 points at 1,398.07 and the S&P 500 (SPX) also closed lower by 80.03 points to close at 816.21 points.
Indian ADRs ended in red. In technology sector, Infosys lost by (6.12%) and Wipro ended low by (14.29%) followed by Satyam that ended low by (7.23%) and Patni Computers closing low by (7.35%). In banking sector ICICI Bank was low by (13.48%), while HDFC Bank lost (11.15%). In telecommunication sector, Tata Communication declined by (5.49%), while MTNL declined by (4.38%).
Today the major stock markets in Asia opened with negative gap. The Shanghai Composite is trading flat at 1,895.28 Hang Seng is low by 607.46 points at 13,501.38. Further Japan''s Nikkei is low by 348.84 points at 8,048.38. Straits Times is also trading low by 30.46 points at 1,659.77 and South Korea’s Seoul Composite is low by 25.70 points at 1,032.92
The FIIs on Monday stood as net buyer in equity and in debt. Gross equity purchased stood at Rs 2157.60 Crore and gross debt purchased stood at Rs 285.80 Crore, while the gross equity sold stood at Rs1738.20 Crore and gross debt sold stood at Rs0.0 Crore. Therefore, the net investment of equity and debt reported were Rs 419.40 Crore and Rs 285.80 Crore respectively.
On Monday, the partially convertible rupee ended at 50.30/32 per dollar, 0.4% weaker than Friday''s close of 50.09/12. The rupee dropped towards a recent low on account of losses in domestic equity market, but state-run banks restricted losses by selling dollars.
On BSE, total number of shares traded was Rs 19.58 Crore and total turnover stood at Rs 2,396.44 Crore. On NSE, total volume of shares traded was 49.62 Crore and total turnover was Rs 8,392.15 Crore.
Top traded volumes on NSE Nifty – Unitech with 66973342 shares, Suzlon Energy with total volume traded 27145898 shares, followed by DLF with 12186377 shares, ICICI Bank with 12106105 shares and Reliance Comm with 10676023 shares.
On NSE Future and Options, total number of contracts traded in index futures was 933001 with a total turnover of Rs 11,969.41 crores. Along with this total number of contracts traded in stock futures were 737864 with a total turnover of Rs 7,363.52 Crore. Total numbers of contracts for index options were 848463 with a total turnover of Rs 12,386.26 Crore and total numbers of contracts for stock options were 39138 and notional turnover was Rs 436.25 Crore.
Today, Nifty would have a support at 2,485 and resistance at 2,588 and BSE Sensex has support at 8,448 and resistance at 8,685.
On Monday, the markets opened with positive gains but could not hold the firmness due to profit booking. After the post mid session, the markets nose dived into the red territory showing signs of huge volatility. The European markets also opened with heavy sell-off and therefore majority of Asian markets followed that trend. Domestic auto sales numbers for the month of November were very weak and hence companies like Matuti Suzuki, Hero Honda, M&M and Tata Motors fell drastically. Sensex closed with a loss of 2.78% whereas, Nifty shed 2.62% respectively. Realty, Auto, CD and Bankex felt the selling heat as they slashed by 5.347%, 4.64%, 4.47% and 3.87% respectively. During the trading session we expect the market to be trading in deep red.
The BSE Sensex closed low by 252.85 points at 8,839.87 and NSE Nifty ended lower by 72.20 points at 2,682.90. The BSE Mid Caps and Small Caps ended with losses of 39.29 points and 6.88 points at 2,846.47 and 3,297.73. The BSE Sensex touched intraday high of 9,326.68 and intraday low of 8,803.34.
On Monday, the US markets were brutally shattered as US economy has officially entered into recession since December 2007. The November ISM Index, a national manufacturing survey, declined to 36.2 from the October reading of 38.9. This was worse than the consensus estimate of 37.0 and, represents the most contraction in U.S. manufacturing since 1982. US Fed Reserve chairman Ben Bernanke said that US economy remains under stress despite bailouts and efforts of policy makers. Crude oil on New York Mercantile Exchange for January fell 84 cents to $48.44 a barrel. OPEC has postponed cutting the oil production till the next meeting.
The Dow Jones Industrial Average (DJIA) closed lower by 679.95 points at 8,149.09 NASDAQ index lost 137.50 points at 1,398.07 and the S&P 500 (SPX) also closed lower by 80.03 points to close at 816.21 points.
Indian ADRs ended in red. In technology sector, Infosys lost by (6.12%) and Wipro ended low by (14.29%) followed by Satyam that ended low by (7.23%) and Patni Computers closing low by (7.35%). In banking sector ICICI Bank was low by (13.48%), while HDFC Bank lost (11.15%). In telecommunication sector, Tata Communication declined by (5.49%), while MTNL declined by (4.38%).
Today the major stock markets in Asia opened with negative gap. The Shanghai Composite is trading flat at 1,895.28 Hang Seng is low by 607.46 points at 13,501.38. Further Japan''s Nikkei is low by 348.84 points at 8,048.38. Straits Times is also trading low by 30.46 points at 1,659.77 and South Korea’s Seoul Composite is low by 25.70 points at 1,032.92
The FIIs on Monday stood as net buyer in equity and in debt. Gross equity purchased stood at Rs 2157.60 Crore and gross debt purchased stood at Rs 285.80 Crore, while the gross equity sold stood at Rs1738.20 Crore and gross debt sold stood at Rs0.0 Crore. Therefore, the net investment of equity and debt reported were Rs 419.40 Crore and Rs 285.80 Crore respectively.
On Monday, the partially convertible rupee ended at 50.30/32 per dollar, 0.4% weaker than Friday''s close of 50.09/12. The rupee dropped towards a recent low on account of losses in domestic equity market, but state-run banks restricted losses by selling dollars.
On BSE, total number of shares traded was Rs 19.58 Crore and total turnover stood at Rs 2,396.44 Crore. On NSE, total volume of shares traded was 49.62 Crore and total turnover was Rs 8,392.15 Crore.
Top traded volumes on NSE Nifty – Unitech with 66973342 shares, Suzlon Energy with total volume traded 27145898 shares, followed by DLF with 12186377 shares, ICICI Bank with 12106105 shares and Reliance Comm with 10676023 shares.
On NSE Future and Options, total number of contracts traded in index futures was 933001 with a total turnover of Rs 11,969.41 crores. Along with this total number of contracts traded in stock futures were 737864 with a total turnover of Rs 7,363.52 Crore. Total numbers of contracts for index options were 848463 with a total turnover of Rs 12,386.26 Crore and total numbers of contracts for stock options were 39138 and notional turnover was Rs 436.25 Crore.
Today, Nifty would have a support at 2,485 and resistance at 2,588 and BSE Sensex has support at 8,448 and resistance at 8,685.
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