Market Analysis as on November 03, 2010
NSE
NSE opened at 6013.35 and closed at 5992.80, after dropping 18.90 points or 0.31%. The market touched its lowest for the day at 5964.25 and highest at 6025.40.The sub indices showed a mixed trend.CNX REALTY lost 4.12 % and closed at 390.50.CNX IT gained 0.43% after opening at 6877.05.Top gainers of today’s market were, Infosys ,NTPC, Hero Honda, Jindal Steel and Wipro. NTPC gained 3.60 points where as Infosys gained 2.95 points. Negative movers were DLF ,Axis bank SBI, and HDFC.DLF lost 5.10 points after opening at 3093.00. The Nifty has support at 5962.9 and 5933 and resistence at 6024.05 and 6055.3.
NSE opened at 6013.35 and closed at 5992.80, after dropping 18.90 points or 0.31%. The market touched its lowest for the day at 5964.25 and highest at 6025.40.The sub indices showed a mixed trend.CNX REALTY lost 4.12 % and closed at 390.50.CNX IT gained 0.43% after opening at 6877.05.Top gainers of today’s market were, Infosys ,NTPC, Hero Honda, Jindal Steel and Wipro. NTPC gained 3.60 points where as Infosys gained 2.95 points. Negative movers were DLF ,Axis bank SBI, and HDFC.DLF lost 5.10 points after opening at 3093.00. The Nifty has support at 5962.9 and 5933 and resistence at 6024.05 and 6055.3.
BSE
SENSEX advanced 2.86 points or 0.01% after opening at 20,007.89, and closed at 19966.93. REALTY, METAL, BANKEX AND POWER indices were pulling down the market while the market was supported by IT, TECH and AUTO. REALTY lost 4.29% whereas BANKEX lost 0.90%. The positive contributers of today’s market were ,Infosys, Larsen, ITC and TCS and the negative movers were mainly from the banking sector including ICICI Bank, HDFC, HDFC Bank, SBI and Reliance. Reliance lost 0.31 %. The market has resistence at 20064.12 and 20161.31and support at19873.43 and 19778.93.
Today’s FII flow: Net Investment by FIIs to equity and debt market together constitute Rs.453.70 Crore registering a groAwth of 13.42 per cent over previous day.
INTERNATIONAL MARKET
Asian Markets were in the positive trend today as U.S. housing and retail data bolstered confidence in a global economic recovery. The Nikkei 225 rose 0.1 percent to 10,178.32 at 3 p.m. in Tokyo, the highest close since June. Topix closed at 879.22 after climbing 2.01 points. European Markets are also in the positive trend today . STOXX 50 reached 2794.96 after climbing 0.49%,while DAX was trading at 6969.19 by increasing 11.58 points. However US market indices showed negative trend as Dow dropped by 0.28 per cent, S&P 500 0.31 per cent and Nasdaq 0.01 per cent.
Asian Markets were in the positive trend today as U.S. housing and retail data bolstered confidence in a global economic recovery. The Nikkei 225 rose 0.1 percent to 10,178.32 at 3 p.m. in Tokyo, the highest close since June. Topix closed at 879.22 after climbing 2.01 points. European Markets are also in the positive trend today . STOXX 50 reached 2794.96 after climbing 0.49%,while DAX was trading at 6969.19 by increasing 11.58 points. However US market indices showed negative trend as Dow dropped by 0.28 per cent, S&P 500 0.31 per cent and Nasdaq 0.01 per cent.
NEW SNIPPETS
• SEBI bans four companies from trading for allegedly jacking up stock prices ahead of bond and share placements.
• Banks need to lift deposit rates says RBI chief Mr.Subbarao.
• Cement companies reported a sharp decline in sales in the month of November.
• SEBI bans four companies from trading for allegedly jacking up stock prices ahead of bond and share placements.
• Banks need to lift deposit rates says RBI chief Mr.Subbarao.
• Cement companies reported a sharp decline in sales in the month of November.
Market Analysis by Ms. Malu Suresh
School of Asset Management
Kochi
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