STOCK MARKET ANALYSIS

Analysis of Stock Market

DOMESTIC MARKET

Market started the session on a flat note on lack of global cues. Nifty opened at 6030.90,and is currently trading at 5995.2 ,52.85 points down from the previous closing .HDFC Bank,PNB,SBI ,M&M etc are witnessing selling pressure,while the market is getting support from TCS,Wipro,Bajaj Auto etc.Nifty has resistance at 6102.167 and 6156.083 and support at 6008.317 ,5968.383 and 5874.53.

Sensex is trading at 20026.30 with 158.44 points down from previous closing.AUTO,METAL,BANKEX and CD are pulling the market down.Sensex has resistance at 20371.34 and 20557.93 and support at 20052.66 and 19920.57.

INTERNATIONAL MARKET
Asian markets are trading positively. Japan’s Nikkei gained 0.48 points and was trading at 10530.20.Topix rose 1.37 points and reached 925.88.Hong Kong’s Hang Seng was trading at 23807.30 with an increase of 20.99 points or 0.23 %.

FII FLOW
The net FII flow to equity sector yesterday recorded a loss of Rs.92.70 crore as against a gain of Rs.775.40 crore the previous day.The open interest for the previous day in Futures segment was Rs.47469.68 crore as against 47992.69 on Wednesday. The open interest in Options segment was Rs.37587.96 crore as against Rs.35965.83 crore the previous day. The aggregate open interest in derivative segment was 85057.64 crore. This was 83958.52 crore Wednesday. It may be observed that the aggregate open interest rose 1.01 per cent.

NEWS
• The Indian rupee fell by 11 paise to Rs 45.35 a dollar in the early trade at the Interbank Foreign Exchange on Friday, tracking gains in the American currency overseas and weak opening at the stock markets.
• The International Monetary Fund today said that capital controls can be a valuable tool for countries to curb large capital inflows, citing emerging powers Brazil and India.
• Finance Minister Pranab Mukherjee on Thursday asked the state governments to remove supply chain bottlenecks at the earliest in the food sector to bring prices down quickly, even as food inflation accelerated to a one year high.

Todays stock recommendation by analysts
COMPANY PRICE TARGET
Mukund 60.40 74
Praj Industries 81.75 116
GSFC 345.60 405
Indian Hotels 101.05 106-110

Market Analysis: Ms. Malu Suresh
School of Asset Management
Kochi
www.schoolofassetmanagement.com