Analysis of Stock Market
DOMESTIC MARKET
The benchmark Nifty started the day on a positive note on SBI and Reliance Industries Q3FY11 numbers. Nifty opened at 5717 .10 and is currently trading at 5718.45 with an increase of 36 points. Most of thr sub-indices are in the positive trend. SBI jumped 2.65% after good results. ICICI Bank rose over 1% ahead of results today. Nifty has resistance at 5717.86 and 5739.23 and support at 5674.81 and 5653.13.
Sensex is trading at 19067.42 with 59.89 points up from previous closing. The sub-indices which showing positive trend are CD,BANKEX,METAL,REALTY etc. Sensex has resistance at 19071.11 and 19134.7 and support at 18938.17 and 18868.82.
INTERNATIONAL MARKET
Asian stocks fluctuated as Honda Motor Co. and S-Oil Corp. rose after brokerages increased investment ratings, while Woolworths Ltd. fell after cutting its annual profit forecast.Nikkei gained 46.17 points and was trading at 10320.70,While Hang seng reteated 81.07 points and reached 23795.80.
FII FLOW
The net FII flow to equity sector on Friday recorded a loss of Rs 834.30 crore as against Rs. 207.40 crore the previous day.The open interest for the previous day in Futures segment was Rs. 46416.06 crore as against 46238.94 crore on Thursday. The open interest in Options segment was Rs. 52250.24 crore as against Rs. 52656.15 crore the previous day. The aggregate open interest in derivative segment was Rs. 98666.3crore. This was 98895.09 crore Thursday. It may be observed that the aggregate open interest dropped 0.23 per cent.
NEWS
• RIL’s net profit rose 28.14% to Rs. 5136 crore.
• SBI’s net profit rose 14.1% to Rs. 2828.06 crore.
TODAYS STOCK RECOMMENDATION BY ANALYSTS
Market Analysis: Ms. Malu Suresh,
School of Asset Management
Kochi
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