STOCK MARKET TODAY

Analysis of Indian Stock Markets as on December 20, 2010
NSE
NIFTY opened at 5977.60 and went as high as 5985 before closing at 5947.05. The market touched lowest for the day at 5900.25. Positive contributors of the market were Hero Honda, TCS, Infosys and Reliance. Hero Honda , jumped the most in more than a year after saying that Honda Motor Co.’s sale of a $1.9 billion stake will lead to lower technology-royalty payments. The negative contributors were ONGC, SBI, Bharti Airtel and NTPC. The market has support at 5903.20 and 5859.35 and resistance at 5987.95 and 6028.85
BSE
Sensex opened at 19770.02and closed at19888.88.The intraday high was at 20006.16 and low at 19711.12. Most of the sub indices closed negatively. Top gainers of today’s market were Reliance, Infosys,ICICI Bank,Larsen and HDFC while the top losers were ITC,HDFC Bank,SBI,ONGC and Bharti airtel. The market has support at19731.28and 19573.68 and resistance at 20026.32 and 200163.76.
FII INFLOW
Net FII inflow recorded Rs.298.40 crore. Open interest in futures market recorded Rs.52906.27 crores and that of option markets recorded Rs.55883.58 crore aggregating to Rs. 108789.85 crore.
INTERNATIONAL MARKET
Asian markets fell as South Korea commenced a live-firing drill that sparked North Korean warnings of retaliation and concern lingered that Europe’s debt crisis will spread.Nikkei lost 87.42 points and ended trading at 10216.40.TOPIX reached 898.55 after retreating 4.59 points. HANG SENG also ended negatively dropping 75.77 points points. European Markets are in the positive trend today. STOXX 50 gained 10.02 points and was trading at 2831.79.FTSE 100 gained 3.44 points and was trading at 5875.19
NEWS
• SKorea starts live-fire drill as United Nations bickers
• Inflation to stabilise to 5.5% by March, says PM
Market Analysis: Ms.Malu Suresh,
School of Asset Management
Kochi
www.schoolofassetmanagement.com