Analysis of Stock Markets as on December 07,2010
NSE
Markets fell today on profit-booking amid weak trend on the other Asian markets.. NIFTY lost 15.70 points after opening at 5995.05.The market touched the highest point for the day at 6001 and the lowest at 2950.40. The sub indices which were pulling down the market were REALTY,INFRA,CNX MIDCAP 50 and CNX MIDCAP .REALTY lost 4.20 points where as INFRA gained 9.70 points. While the market got support from IT and IT gained 41.75 Positive contributors of Nifty were Reliance ,ONGC, Bharti Airtel and NTPC.Negative contributors were ICICI BANK,SBL,TCSand Axis Bank. ICICI Bank lost 39.05 points and reached The market has support at 5943.83.and 5811.11 and resistance is at 6005.13 and 6033.71
BSE
Sensex opened at 19982.90 and closed at 19934.64. The intraday high was at 20008 and low at 19824.44 BANKEX and REALTY were the negative movers of the market. BANKEX lost 3.06 % or 420.70 points. OIL&GAS gained 0.87 % or 90.76 points. Positive contributors of today’s market were Reliance, Infosys, Larsen and ONGC while the companies in the negative side were ICICI Bank, HDFC,ITC and SBI. Sensex has resistance at 20020.52 and 20106.40. Support is at 19836.60 and 19738.56 .
Sensex opened at 19982.90 and closed at 19934.64. The intraday high was at 20008 and low at 19824.44 BANKEX and REALTY were the negative movers of the market. BANKEX lost 3.06 % or 420.70 points. OIL&GAS gained 0.87 % or 90.76 points. Positive contributors of today’s market were Reliance, Infosys, Larsen and ONGC while the companies in the negative side were ICICI Bank, HDFC,ITC and SBI. Sensex has resistance at 20020.52 and 20106.40. Support is at 19836.60 and 19738.56 .
FII Inflow Today
The net FII inflow to Indian capital market turned negative as the aggregate flow showed net outflow of Rs.309.40 crore. The open interest in the derivative market at the end of today recorded 53993.30 in respect of futures and 51171.04 in respect of options aggregating to 105164.34.
The net FII inflow to Indian capital market turned negative as the aggregate flow showed net outflow of Rs.309.40 crore. The open interest in the derivative market at the end of today recorded 53993.30 in respect of futures and 51171.04 in respect of options aggregating to 105164.34.
INTERNATIONAL MARKET
Asian Markets were in the negative trend. Nikkei lost 65.60 points and was trading at 10101.60.TOPIX reached 876.55 after retreating 4.86 points or 0.55%.Where as HANG SENG is showing a positive trend with an increase of 47.19 points and was trading at 23284.90.European Markets gained today. STOXX 50 gained 32.75 points and FTSE 100gained 41.79 points. .
Asian Markets were in the negative trend. Nikkei lost 65.60 points and was trading at 10101.60.TOPIX reached 876.55 after retreating 4.86 points or 0.55%.Where as HANG SENG is showing a positive trend with an increase of 47.19 points and was trading at 23284.90.European Markets gained today. STOXX 50 gained 32.75 points and FTSE 100gained 41.79 points. .
News Snippets
• SBI reported that it will raise deposit rates by between 50 and 150 basis points for various maturities, with effect from Dec. 7.
• The rupee has appreciated 4 percent this year as overseas investors poured a record $29.1 billion into Indian shares to benefit from the nation’s economic growth
• Shipping Corp. of India Ltd., the country’s biggest sea carrier, drew 55.2 billion rupees ($1.2 billion) of bids in a share sale that closed on Dec. 3. A sale by MOIL Ltd., India’s largest producer of manganese ore, closed on Dec. 1, with bids for 56 times the 33.6 million shares offered.
Market Analysis by: Ms.Malu Suresh
School of Asset Management
Kochi
www.schoolofassetmanagement.com
• SBI reported that it will raise deposit rates by between 50 and 150 basis points for various maturities, with effect from Dec. 7.
• The rupee has appreciated 4 percent this year as overseas investors poured a record $29.1 billion into Indian shares to benefit from the nation’s economic growth
• Shipping Corp. of India Ltd., the country’s biggest sea carrier, drew 55.2 billion rupees ($1.2 billion) of bids in a share sale that closed on Dec. 3. A sale by MOIL Ltd., India’s largest producer of manganese ore, closed on Dec. 1, with bids for 56 times the 33.6 million shares offered.
Market Analysis by: Ms.Malu Suresh
School of Asset Management
Kochi
www.schoolofassetmanagement.com
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