Analysis of Stock Market
DOMESTIC MARKET
The benchmark Nifty started the session on a positive note amid mild volatility. Nifty opened at 5763.30 and is currently trading at 5765.25 with a gain of 22 points. Metal, oil & gas, telecom, capital goods, healthcare and select technology companies' shares were on buyers' radar while major banks were down in trade due to the anticipated credit policy change by RBI.Nifty has resistance at 5766.91 and 5790.58 and support at 5708.66 and 5674.08.
Sensex is trading at 19259.55 with 108.27 points up from previous closing. Most of the sub-indices are in the positive trend. Positive contributors are GAIL,NTPC,BPCL and Sterlite Ind. Sensex has resistance at 19231.03 and 19310.79 and support at 19034.95 and 18918.63.
INTERNATIONAL MARKET
Asian stocks rose, driving the regional benchmark index higher for the second day as U.S. takeovers, share buybacks and dividend prospects drove the Dow Jones Industrial Average to its highest close since June 2008. Japan’s Nikkei 225 Stock Average rose 1.16 percent or 119.52 points and was trading at 10462.60.TOPIX reached 930.07 with an increase of 12.89 points. HANG SENG also gained 114.33 points and was trading at 23916.10.
FII FLOW
The net FII flow to equity sector on Monday recorded a gain of Rs 37.60 crore as against a loss of Rs. 834.30 crore the previous day.The open interest for the previous day in Futures segment was Rs. 47304.61 crore as against 46416.06 crore on Friday. The open interest in Options segment was Rs. 52108.87 crore as against Rs. 52250.24 crore the previous day. The aggregate open interest in derivative segment was Rs. 99413.48 crore. This was 98666.3 crore Friday. It may be observed that the aggregate open interest increased 0.75 per cent.
NEWS
• RBI may lift policy interest rates by at least 25 basis points.
TODAYS STOCK RECOMMENDATION BY ANALYSTS
Market Analysis: Ms.Malu Suresh
School of Asset Management
Kochi
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