Analysis of Stock Market
DOMESTIC MARKET
The benchmark Nifty was flat in opening trade, with a negative bias. Financial, capital goods and metal companies' shares were down while technology stocks along with ICICI Bank were supporting the markets. Nifty opened at 5752.10,and is currently trading at 5714.20,with a decline of 37.70 points. Top losers were SAIL , ACC, Ambuja Cements and Tata motors. Nifty has resistance at 5827.53 and 5903.167 and support at 5706.483 and 5661.067.
Sensex is trading at 19059.69 with 118.13 points down from previous closing. Most of the sub-indices are in the negative trend. REALTY, METAL, AUTO,CG, BANKEX etc were in the negative zone. Sensex has resistance at 19424.71 and 19666.6 and support at 19038.6 and 18894.38.
INTERNATIONAL MARKET
Asian stocks dropped, sending the regional benchmark index to its first decline in three days, as U.S. jobless claims rose more than economists estimated and mining companies fell as oil and metal prices retreated. Nikkei dropped 30.83 points or 0.29% and was trading at 10558.90.Topix retreated 0.84 points and reached 936.90,while Hang Seng was trading at 24270.90 with an increase of 31.94 points.
FII FLOW
The net FII flow to equity sector on Wednesday recorded a loss of Rs. 98.20 crore as against 284.32 crore the previous day.The open interest for the previous day in Futures segment was Rs. 46566.02crore as against 44748.13 on Tuesday. The open interest in Options segment was Rs. 48316.46crore as against Rs. 46557.86crore the previous day. The aggregate open interest in derivative segment was Rs. 94882.48 crore. This was 91305.99 crore Wednesday. It may be observed that the aggregate open interest rose 3.91 per cent.
The net FII flow to equity sector on Wednesday recorded a loss of Rs. 98.20 crore as against 284.32 crore the previous day.The open interest for the previous day in Futures segment was Rs. 46566.02crore as against 44748.13 on Tuesday. The open interest in Options segment was Rs. 48316.46crore as against Rs. 46557.86crore the previous day. The aggregate open interest in derivative segment was Rs. 94882.48 crore. This was 91305.99 crore Wednesday. It may be observed that the aggregate open interest rose 3.91 per cent.
NEWS
• U.S. Trade Gap Unexpectedly Shrinks to 10-Month Low; Jobless Claims Climb
• The Indian economy is projected to grow at 8.5 per cent in 2011 and 8.7 per cent in 2012, according to the World Bank report.
• Snapping the five week rising trend, food inflation softened to 16.91 per cent for the week ended January 1, 2011, although vegetables, onions and protein-based items continued to remain costly.
TODAYS STOCK RECOMMENDATION BY ANALYSTS
• U.S. Trade Gap Unexpectedly Shrinks to 10-Month Low; Jobless Claims Climb
• The Indian economy is projected to grow at 8.5 per cent in 2011 and 8.7 per cent in 2012, according to the World Bank report.
• Snapping the five week rising trend, food inflation softened to 16.91 per cent for the week ended January 1, 2011, although vegetables, onions and protein-based items continued to remain costly.
TODAYS STOCK RECOMMENDATION BY ANALYSTS
Market Analysis: Ms. Malu Suresh
School of Asset Management
Kochi
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