Analysis of Stock Market as on December 21, 2010
NSE
NIFTY opened at 5960.40 and went as high as 6006.70 before closing at 6000.65 The market touched lowest for the day at 5960.05. Buying was seen in financial, metal, and Anil Dhirubhai Ambani Group (ADAG) group companies' shares. However, indices were getting some selling pressure at higher levels due to fall in cement and FMCG companies' shares. Positive contributors of the market were ICICI Bank, SBI, Reliance, Wipro and Sterlite Ind. The negative contributors being NTPC, Sun Pharma, Bharti Airtel and TCS. The market has support at 5971.32and 5941.98 and resistance at 6018.72 and 6036.78
BSE
Sensex opened at 19925.76 and closed at ,,,,,,,,.The intraday high was at 22090.84 and low at 19925.76 Most of the sub indices closed positevely. Top gainers of today’s market were Reliance, ,ICICI Bank, HDFC and SBI ,while the top losers wereInfosys,Larsen, ITC andTCS. The market has support at 19960.44 and 19860.56 and resistance at 20125.52 and 20190.72
INTERNATIONAL MARKET
Asian stocks rose by the most in two weeks as commodity prices climbed amid easing tensions on the Korean peninsula even after a military drill by the South yesterday, and as China reported “concrete action” to help stabilize Europe’s economy.Nikkei closed at 10370 after gaining 154.12 points.HANG SENG reached 22993.90 with an increase of 1.57%.European markets are also in the positive trend.STOXX 50 was trading at 2858,21 after an increase of 18.99 points.FTSE 100 gained 43.58 points and reached 5935.19.
FII INFLOW
The FII flow was negative today as the net flow recorded fell to 491.00 crore as against rise of Rs. 298.40 Crore yesterday. The open interest in futures market recorded Rs 53600.64 crore as against Rs. 52906.27 crore on Monday. The open Interest in options was Rs. 56980.28 crore as against Rs. 55883.58 crore yesterday. The aggregate outstanding fell to Rs.110580.68 crore in the F&O segment from Rs. 108789.85 crore on the previous day. The FII interest in cash and F&O segment has increased today.
NEWS BITS
Wall Street extends year-end rally as mergers help
Dr Reddy's inks pact with Russian firm R-Pharm
USstocks edge up on another round of dealmaking
Rupee recovers by 25paise vs $ on firm equities
India sugar ends steady; firm global mkt supports
Call rate eases, bonds end mixed
Ranbaxy venture wins $133-m HIV drug supply order in S. Africa
Hero Honda recovers on brokerages upgrade
SKS plunges to all-time low
Ispat slumps over 17% in early trade on BSE
Market Analysis: Ms.Malu SureshNIFTY opened at 5960.40 and went as high as 6006.70 before closing at 6000.65 The market touched lowest for the day at 5960.05. Buying was seen in financial, metal, and Anil Dhirubhai Ambani Group (ADAG) group companies' shares. However, indices were getting some selling pressure at higher levels due to fall in cement and FMCG companies' shares. Positive contributors of the market were ICICI Bank, SBI, Reliance, Wipro and Sterlite Ind. The negative contributors being NTPC, Sun Pharma, Bharti Airtel and TCS. The market has support at 5971.32and 5941.98 and resistance at 6018.72 and 6036.78
BSE
Sensex opened at 19925.76 and closed at ,,,,,,,,.The intraday high was at 22090.84 and low at 19925.76 Most of the sub indices closed positevely. Top gainers of today’s market were Reliance, ,ICICI Bank, HDFC and SBI ,while the top losers wereInfosys,Larsen, ITC andTCS. The market has support at 19960.44 and 19860.56 and resistance at 20125.52 and 20190.72
INTERNATIONAL MARKET
Asian stocks rose by the most in two weeks as commodity prices climbed amid easing tensions on the Korean peninsula even after a military drill by the South yesterday, and as China reported “concrete action” to help stabilize Europe’s economy.Nikkei closed at 10370 after gaining 154.12 points.HANG SENG reached 22993.90 with an increase of 1.57%.European markets are also in the positive trend.STOXX 50 was trading at 2858,21 after an increase of 18.99 points.FTSE 100 gained 43.58 points and reached 5935.19.
FII INFLOW
The FII flow was negative today as the net flow recorded fell to 491.00 crore as against rise of Rs. 298.40 Crore yesterday. The open interest in futures market recorded Rs 53600.64 crore as against Rs. 52906.27 crore on Monday. The open Interest in options was Rs. 56980.28 crore as against Rs. 55883.58 crore yesterday. The aggregate outstanding fell to Rs.110580.68 crore in the F&O segment from Rs. 108789.85 crore on the previous day. The FII interest in cash and F&O segment has increased today.
NEWS BITS
Wall Street extends year-end rally as mergers help
Dr Reddy's inks pact with Russian firm R-Pharm
USstocks edge up on another round of dealmaking
Rupee recovers by 25paise vs $ on firm equities
India sugar ends steady; firm global mkt supports
Call rate eases, bonds end mixed
Ranbaxy venture wins $133-m HIV drug supply order in S. Africa
Hero Honda recovers on brokerages upgrade
SKS plunges to all-time low
Ispat slumps over 17% in early trade on BSE
School of Asset Management,
Kochi
www.schoolofassetmanagement.com
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