STOCK MARKET TODAY

An Analysis of Stock Markets

DOMESTIC MARKET

Today Market is flat due to growing fears that the RBI will hike key policy rates at its next meeting as food inflation remains stubbornly high. Nifty opened at 5901.30,and is currently trading at 5845.10 ,529.50 points down from the previous closing .Indices showing negative trend are REALTY, INFRA,IT, BANK etc. Nifty has resistance at 6009.33 and 6114.067 and support at 5841.73 and 5778.86.

Sensex is trading at 19538.91 with 152.90 points down from previous closing. CD, CG, AUTO , PSU and HC are pulling the market down. Sensex has resistance at 20058.55 and 20425.28 and support at 19477.15 and 19262.48

INTERNATIONAL MARKET
Asian markets are showing a mixed trend. Japan’s Nikkei gained 11.28 points and was trading at 105410.00.Topix rose 1.91 points and reached 926.42.Hong Kong’s Hang Seng was trading at 23655.20 with a decrease of 31.48 points or 0.13%.

FII FLOW
The net FII flow to equity sector on Friday recorded a decline of Rs.232 crore as against 92.40 crore the previous day. The open interest for the previous day in Futures segment was Rs. 47257.11 crore as against 47469.68 on Thursday. The open interest in Options segment was Rs. 38805.91crore as against Rs.37587.96 crore the previous day. The aggregate open interest in derivative segment was 86063.02crore. This was 85057.64 crore Thursday. It may be observed that the aggregate open interest rose 1.18 per cent.

NEWS
• According to Prime Minister Manmohan Singh the economy is likely to grow between 9 and 10 percent from the next fiscal year that starts from April 1, after growing 8.5 percent in the current fiscal year.

TODAYS STOCK RECOMMENDATION BY ANALYSTS

COMPANY PRICE (Rs.) TARGET (Rs.)
Triveni Engg. 106.40- 100
Elder Pharma 383.75- 454
Jyothi structure 129.80- 162
LIC Housing Fin 178.10 -250

Market Analysis: Ms.Malu Suresh,

School of Assetmanagement

Kochi

www.schoolofassetmanagement.com