An analyis of the Stock Markets as on December 8 ,2010.
BSE
Profit booking and weakening trend on the other Asian bourses and fears of a fuel hike after crude oil prices soared to a 26-month high in global markets, affected the market negatively. SENSEX today opened at 19874.30 and reached as high as 19875.51 and touched the lowest at 19619.67 before closing at 19696.48 after losing 238.16 points since opening. All the sub indices were in the negative trend. BANKEX lost 270.51 points. Top moves on the positive side were ONGC and Tata Motors and on the negative side the top movers were HDFC bank, HDFC, RIL and SBI. The market has resistance at 19844.21 and 19991.94 and support at 19580.05 and 19463.62
NSE
Nifty opened at 5954.40 went as high as 5960 and touched the lowest of the day at 5879.70.Nifty closed at 5903.70. The sub indices which suffered high loss were BANK NIFTY,CNX IT,CNX REALTY and CNX DEFTY. Top gainers of the day were ONGC, Bharti Airtel, BPCL and GAIL while the top losers were Reliance, HDFC Bank, Infosys and SBI. The market has resistance at 5949.60 and 5995.50 and support at 5868.20and 5832.70.
BSE
Profit booking and weakening trend on the other Asian bourses and fears of a fuel hike after crude oil prices soared to a 26-month high in global markets, affected the market negatively. SENSEX today opened at 19874.30 and reached as high as 19875.51 and touched the lowest at 19619.67 before closing at 19696.48 after losing 238.16 points since opening. All the sub indices were in the negative trend. BANKEX lost 270.51 points. Top moves on the positive side were ONGC and Tata Motors and on the negative side the top movers were HDFC bank, HDFC, RIL and SBI. The market has resistance at 19844.21 and 19991.94 and support at 19580.05 and 19463.62
NSE
Nifty opened at 5954.40 went as high as 5960 and touched the lowest of the day at 5879.70.Nifty closed at 5903.70. The sub indices which suffered high loss were BANK NIFTY,CNX IT,CNX REALTY and CNX DEFTY. Top gainers of the day were ONGC, Bharti Airtel, BPCL and GAIL while the top losers were Reliance, HDFC Bank, Infosys and SBI. The market has resistance at 5949.60 and 5995.50 and support at 5868.20and 5832.70.
Today’s FII Flow
Net FII inflow dropped by Rs.590.90 crore. Open interest in futures market dropped to Rs.53934.22 crores and that of option markets rose to Rs.51633.74 crore aggregating to Rs. 105567.96 crore which is Rs.403.62 crore above previous day level.
INTERNATIONAL MARKET
Most of the Asian Markets were in the positive trend today. Nikkei rose 91.23 points and closed trading at 102332.30.TOPIX reached 887.39 after gaining 8.29 points, while HANG SENG lost 382.75 points and reached 23045.40.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 FII inflow dropped by Rs.590.90 crore. Open interest in futures market dropped to Rs.53934.22 crores and that of option markets rose to Rs.51633.74 crore aggregating to Rs. 105567.96 crore which is Rs.403.62 crore above previous day level.
INTERNATIONAL MARKET
Most of the Asian Markets were in the positive trend today. Nikkei rose 91.23 points and closed trading at 102332.30.TOPIX reached 887.39 after gaining 8.29 points, while HANG SENG lost 382.75 points and reached 23045.40.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
• India may acquire less than two- thirds of its allocation in State Bank of India’s proposed rights offer, a senior finance ministry official told reporters in New Delhi.
• India’s first auction of solar power permits may get derailed as plant builders say borrowing costs are too high to finance the projects, a key part of government efforts to reduce oil imports. Tata Power Co., India’s biggest non-state power developer, said it isn’t participating in the
Market Analysis by Ms. Malu Suresh,
• India may acquire less than two- thirds of its allocation in State Bank of India’s proposed rights offer, a senior finance ministry official told reporters in New Delhi.
• India’s first auction of solar power permits may get derailed as plant builders say borrowing costs are too high to finance the projects, a key part of government efforts to reduce oil imports. Tata Power Co., India’s biggest non-state power developer, said it isn’t participating in the
Market Analysis by Ms. Malu Suresh,
School of Asset Management.
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