Analysis of Stock Market
DOMESTIC MARKET
Indian equities gained strength after an initial consolidation at 10:30 hours, supported by oil & gas, realty, technology, financial, metal, telecom, FMCG and capital goods companies' shares. Nifty opened at 5430.45 and was trading at 5488.85 with an upward gap of 56.85 points REALTY gained 2.13% and INFRA gained 1.01%.Nifty has resistance at 5476.52 and 5521.03 and support at 5401.57 and 5371.13.
Sensex opened at 18113.73 and was trading at 18308.19 with a gain of 217.57 points. REALTY gained 2.21% while OIL & GAS gained 1.97% .Sensex has resistance at 18250.20 and 18409.8 and support at 17986.82 and 17883.02.
INTERNATIONAL MARKET
Japanese stocks fell for the first time in three days as opposing groups clashed in Egypt and some company earnings missed expectations. Nikkei dropped 32.81 points and was trading at 10424.50.TOPIX retreated 3.01 points and reached 926.63.While Hang Seng gained 426.01 points and was trading at 23909.
FII FLOW
The net FII flow to equity sector on Wednesday recorded a loss of 92.93 crore as against 900.50 crore the previous day.The open interest for the previous day in Futures segment was Rs. 39374.41 crore as against 39487.05 crore on Tuesday. The open interest in Options segment was Rs. 47278.07crore as against Rs. 45531.42 crore the previous day. The aggregate open interest in derivative segment was Rs. 86652.48 crore. This was 85018.47 crore Tuesday. It may be observed that the aggregate open interest rose 1.92 per cent.
TODAYS STOCK RECOMMENDATION BY ANALYSTS
Market Analysis: Ms. Malu Suresh
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