Analysis of Stock Market
DOMESTIC MARKET
Nifty slipped in opening trade following downward trend in Asian markets. Nifty opened at 5656,and is currently trading at 5661.90,with a decline of 29.15 points. Among frontliners, Reliance Communications, Bharti Airtel, Tata Motors, Sesa Goa, Jindal Steel & Power, Sterlite Industries, Reliance Capital, Jaiprakash Associates, HCL Tech, Reliance Industries, SAIL, SBI, ICICI Bank and PNB were witnessing selling pressure. Nifty has resistance at 5738.25 and 5785.503 and support at 5653.15 and 5615.303.
Sensex is trading at 18872.72 with 105.60 points down from previous closing.The subindices which showing negative trend are OIL & GAS,BANKEX,AUTO, METAL,FMCG etc whilethe market is getting support from IT,REALTY,HC,CG and CD. Sensex has resistance at 19130.73 and 19283.15 and support at 18862.23 and 18746.15.
INTERNATIONAL MARKET
Asian stocks fell with the regional benchmark index falling the most in two weeks, as Chinese economic reports prompted speculation the country will do more to fight inflation and U.S. earnings disappointed. Nikkei dropped 118.94 points and is currently trading at 10438.20.Topix reached 927.87 after retreating 9 points. Hang Seng is also flat and is trading at 24140.40 with a decrease of 279.20 points.
FII FLOW
The net FII flow to equity sector on Wednesday recorded a gain of Rs 176.30 crore as against a loss of 25.88 crore the previous day. The open interest for the previous day in Futures segment was Rs. 46143.36 crore as against 45867.7 crore on Tuesday. The open interest in Options segment was Rs. 52836.7 crore as against Rs. 51929.79 crore the previous day. The aggregate open interest in derivative segment was Rs. 98980.06 crore. This was 97797.49 crore Tuesday. It may be observed that the aggregate open interest rose 1.2 per cent.
The net FII flow to equity sector on Wednesday recorded a gain of Rs 176.30 crore as against a loss of 25.88 crore the previous day. The open interest for the previous day in Futures segment was Rs. 46143.36 crore as against 45867.7 crore on Tuesday. The open interest in Options segment was Rs. 52836.7 crore as against Rs. 51929.79 crore the previous day. The aggregate open interest in derivative segment was Rs. 98980.06 crore. This was 97797.49 crore Tuesday. It may be observed that the aggregate open interest rose 1.2 per cent.
NEWS
• Mobile number portability launched today.
• China's GDP growth sped up in the fourth quarter to 9.8% from 9.6% in the third quarter.
• Mobile number portability launched today.
• China's GDP growth sped up in the fourth quarter to 9.8% from 9.6% in the third quarter.
Market Analysis: Ms. Malu Suresh
School of Asset Management
www.schoolofassetmanagement.com
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