Friday, December 17, 2010

Analysis of Stock Market as on 16th Dec, 2010

NSE
NIFTY opened at 5910.55 and went as high as 5956.15 before closing at 5948.75. The market touched lowest for the day at 5855.05. Most of the indices were in the negative trend in earlier part of the day which turned course towards the close of market hours. Buying was seen in IT and telecom stocks. Selling was seen in auto, consumer durables, power, capital goods and FMCG stocks. Positive contributors of the market were TCS, Infosys, Wipro and SAIL and the negative contributors were BHEL, M&M, Larsen and HDFC.
The market has support at 5883.81 & 5818.88 and resistance at 5984.91 & 6021.08.

BSE
Sensex opened at 19698.58 and closed at 19864.85. The intraday high was at 19897.22 and low at 19554.35. Most of the sub indices closed negatively. Top gainers of today’s market were Reliance, Infosys, ICICI Bank, ITC and HDFC Bank while the top losers were Larsen, HDFC, BHEL and M&M.
The market has support at 19647.06 & 19429.27 and resistance at 19989.93 & 20115.01.

INTERNATIONAL MARKET
Nikkei gained 1.51 points and ended trading at 10311.30. TOPIX reached 903.84 after increasing 1.42 points. HANG SENG ended negatively dropping 306.57 points. European Markets were in a mixed trend today. STOXX 50 gained 3.79 points (.13%) and was trading at 2845.78. FTSE 100 lost 1.06 points and was trading at 5881.12. DAX closed 8.03 points up at 7024.4.
U.S. stocks rose, after claims for jobless benefits unexpectedly fell and housing sales started increased last month. The Standard & Poor’s 500 Index rose to its highest level since September 2008, to 1,242.87 as of 4 p.m. in New York. The Dow Jones Industrial Average gained 41.78 points, or 0.4 percent, to 11,499.25, its highest point since Sept. 8, 2008.

FII FLOW
The FII flow was negative today as the net flow recorded fell to 312.00 crore as against Rs. 1280 Crore yesterday. The open interest in futures market recorded Rs 52636.51 crore as against Rs. 53514.98 crore on Wednesday. The open Interest in options was Rs. 54442.05 crore as against Rs. 55202.7 crore yesterday. The aggregate outstanding fell to Rs.107078.56 crore in the F&O segment from Rs. 108717.68 crore on the previous day. The FII interest in cash and F&O segment has marginally decreased today.

NEWS
• RBI keeps rates unchanged, cuts SLR to 24%
http://www.moneycontrol.com/news/business/rbi-leaves-all-rates-unchanged_505540.html
• ONGC board approves Rs.32 per share dividend, 1:1 bonus and 2:1 stock split.

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