Market Analysis as on December 6, 2010
BSE
SENSEX today opened at 20038.25 and reached as high as 20217.86 and touched the lowest at 19949.85 before closing at 19981.31 after losing 5,94 points or 0.28% since opening. The main market movers were BANKEX, PSU and REALTY at the negative side and METAL,OIL&GAS, IT and AUTO at the positive side. BANKEX lost 370.71 points. Top gainers of today’s Market were Reliance , Infosys and HDFC which gained 1.79,1.50 and0.90 points respectively. Whereas the top losers were ICICI Bank, Larsen, and ITC which lost 1.30,1.08 1nd 0.89 points respectively. The market has resistance at 20151.21 and 20321.11 and support at 19878.06 and 19774.81.
BSE
SENSEX today opened at 20038.25 and reached as high as 20217.86 and touched the lowest at 19949.85 before closing at 19981.31 after losing 5,94 points or 0.28% since opening. The main market movers were BANKEX, PSU and REALTY at the negative side and METAL,OIL&GAS, IT and AUTO at the positive side. BANKEX lost 370.71 points. Top gainers of today’s Market were Reliance , Infosys and HDFC which gained 1.79,1.50 and0.90 points respectively. Whereas the top losers were ICICI Bank, Larsen, and ITC which lost 1.30,1.08 1nd 0.89 points respectively. The market has resistance at 20151.21 and 20321.11 and support at 19878.06 and 19774.81.
NSE
Nifty opened at 6033.65 went as high as 6069.45 and touched the lowest of the day at 5982.40.Nifty closed at 5992.25The sub indices which showed positive trend were INDIA VIX, IT and CNX DEFTY, and the indices showed negative trend were BANK NIFTY and NIFTY JUNIOR. Top gainers of the day were Reliance, Tata Motors and Sterlite Ind while the top losers were SBI,ICICI Bank and ITC. The market has resistance at 6047.23 and 6102.22 and
support at 5959.48 and 5926.72.
Today’s FII Flow
Net Investment by FIIs to equity and debt market together constitutes Rs.717.50 Crore registering a growth of 58.14 per cent over previous day. The FII trade representing the open interest at the end of the day in index and stock futures together constituted Rs.53430.32 and index and stock options constituted Rs.51797.29 aggregating to Rs.105227.61
INTERNATIONAL MARKET
Most of the Asian Markets were in the negative trend today. Nikkei dropped 0.11% or 11.09 points and closed trading at 10167.20.HANG SENG lost 82.83 points and reached 23237.70, while TOPIX reached 881.41 after gaining 2.19 points. American Markets showed a bullish trend today.DOW rose 19.68 points and closed at 11382.10.NASDAQ reached 2591.46 after increasing 12.11 points.
Net Investment by FIIs to equity and debt market together constitutes Rs.717.50 Crore registering a growth of 58.14 per cent over previous day. The FII trade representing the open interest at the end of the day in index and stock futures together constituted Rs.53430.32 and index and stock options constituted Rs.51797.29 aggregating to Rs.105227.61
INTERNATIONAL MARKET
Most of the Asian Markets were in the negative trend today. Nikkei dropped 0.11% or 11.09 points and closed trading at 10167.20.HANG SENG lost 82.83 points and reached 23237.70, while TOPIX reached 881.41 after gaining 2.19 points. American Markets showed a bullish trend today.DOW rose 19.68 points and closed at 11382.10.NASDAQ reached 2591.46 after increasing 12.11 points.
News Snippets
• The government may impose restriction on foreign direct investment (FDI) in hospitality sector.
• IPOs of Punjab and Sind Bank and L&T Finance may come to the market probably by next week.
• A decision on deregulation of diesel prices would be taken by the Empowered Group of Ministers only after the crude prices soften.
• The government may impose restriction on foreign direct investment (FDI) in hospitality sector.
• IPOs of Punjab and Sind Bank and L&T Finance may come to the market probably by next week.
• A decision on deregulation of diesel prices would be taken by the Empowered Group of Ministers only after the crude prices soften.
Market Analysis by : Ms. Malu Suresh
School of Asset Management
Kochi
E-mail: mail@schoolofassetmanagement.com
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