Webinfosys's Stock Market News : Pre Session Market

ndian market is likely to have a negative opening as putting the restriction by SEBI on the issue of participatory notes by foreign institutional investors to restrict the flow of foreign funds into the domestic market. Also US market closed in red and Asian market is trading weak. will add to the sentiment. On Tuesday, the Indian markets closed little lower as the BSE Sensex closed marginally lower by 6.81 points at 19,051.86 while Nifty slipped by 2.35 points to close at 5,668.05. We expect the market remain cautious during the trading session.

Tuesday, the US markets closed in a negative territory. The Dow Jones Industrial Average (DJIA) dropped by 71.86 points to close at 13,912.94. The S&P 500 (SPX) index decreased by 10.18 points to close at 1,538.53 while the NASDAQ Composite (RIXF) fell 16.14 points to close at 2,763.91.

Indian ADRs ended in negative territory. In technology sector, Patni computers fell (8.38%) along with Infosys by (5.73%), Satyam by (4.05%) and Wipro by (3.35%). In banking sector, HDFC bank and ICICI bank dropped by (10.14%) and (6.51%) respectively. In telecommunication sector, VSNL and MTNL slipped by (4.96%) and (2.28%) respectively.

The major stock markets in Asia are trading weak. Hang Seng is trading lower by 179.76 points at 28,774.79. Japan''s Nikkei slipped by 179.52 points to trade at 16,958.40. Singapore''s Straits Times index fell 29.91 points to trade at 3,780.91. Seoul Composite trading lower by 35.43 points to trade at 1,970.33.

Yesterday, FIIs stood at the net buyer as the gross equity purchased was Rs.8,184 (in crores), and the gross debt purchased was Rs5 (in crores) as against the gross equity sold was Rs4,325.60 (in crores) and the gross debt sold was Rs0.00 (in crores). The net investment of equity was Rs3,858.40 (in crores) and the net debt investment was Rs5 (in crores).

Today, Nifty has support at 5,405 and resistance at 5,674 and BSE Sensex has support at 18,410 and resistance at 19,089.

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Post Session Market

The market ended the session on a flat note as BSE Sensex closed marginally lower by 6.81 points at 19,051.86 and Nifty closed at 5,668.05 little lower by 2.35 points. Though the market surged at the initial stage to touch an intraday high of 19,174.45 but all of a sudden lost grip to trade lower on the back of weak global cues. But the market managed to pare most of its early losses to close the session on a flat note. The bankex index remained the most attractive during the trading session as most buying is seen in these scrips. A lot of volatility is seen in today trading session as the market keeps on moving in the positive and negative territory. Overall, the market breadth was weak as 1,543 stocks closed lower while 1212 stocks closed higher. The BSE Mid Cap and Small Cap closed higher by 65.765 points and 44.16 points at 7,782.67 and 9,356.13 respectively.

BSE Bankex index surged by 267.32 points to close at 9,974.13. Leading the rally are Axix bank (8.54%), Allahabad bank (7.12%), ICICI bank (5.48%), PNB (2.64%), Union bank (2.24%) and Yes bank (2.21%) closed higher.

The Reality index grew by 110.76 points to close at 10,187.31. Pushing it up are Sobha developers (5.38%), Akruti Nirman (3.71%), Unitech (1.86%) and Purvankara (1.49%) closed in positive.

BSE Metal index closed lower by 43.51 points at 16,156.67. Pulling it down are Sterlite industries (3.01%), SAIL (2.59%), Nalco (2.03%), JSW steel (1.72%), Tata Steel (0.48%) and Bhusan steel (0.17%) closed lower.

The Oil and Gas index closed lower by 58.29 points at 10,994.52 as Essar oil (2.65%), BPCL (2.21%), HPCL (1.85%), GAIL (1.27%), ONGC (1.24%) and Reliance industries (0.59%) closed in negative.

The IT index fell 83.34 points to close at 4,629.09 as Patni computer (4.27%), HCL tech (3.34%), Infosys (3.14%), Wipro (1.15%) and TCS (0.52%) closed in red.

BSE Auto index slipped by 14.59 points to close at 5,598.78 as M&M (2.34%), Bajaj auto (1.53%), Hero Honda (1.14%) and TVS motor (0.72%) closed lower.

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Mid Session Market

The market is little volatile today and is trading in between the positive and negative territory. Most of the BSE indices are trading in red with an exception of Bank, Consumer Durables and Realty stocks. The Metal index is the top of the day. It has touched an intra day high of 9,988.30.

The overall market breadth is negative as 1212 stocks are advancing while 1370 stocks are declining and 72 stocks remained unchanged on BSE.

At 12.30 pm, BSE Sensex was at 19,024.85 down by 33.82 points and Nifty was at 5,553.30 down by 7.10 points. The Mid cap is higher by 60.48 points at 7,777.39 and the small Cap advanced by 51.19 points to trade at 9,363.16.

BSE Banks index surged by 222.51 points to trade at 9,929.32. The major gainers are Axis Bank (4.87%), ICICI Bank (4.56%), PNB (1.33%) and SBI (0.36%).

BSE Metal index dropped 19.62 points to trade at 16,180.56. The major losers are NALCO (2.79%), Hindalco industries (1.59%), Sterlite Industries (1.29%) and Tata Steel (0.44%).

BSE Oil & Gas index was trading 2.14 points lower at 11,050.67 as GAIL (2.05%), ONGC (1.60%) and BPCL (1.11%) are trading lower.

BSE Capital goods index slipped 110.07 points to 17,009.63. The main losers are L&T (2.05%), Suzlon Energy (1.59%) and BHEL (0.91%).

BSE IT index down by 81.06 points to trade at 4,631.37 as Infosys (2.85%), HCL Tech. (1.60%), Wipro (1.02%) and TCS (0.47%) are trading higher.TCS has registered a 22.8% growth in its net profit at Rs.1,251.60 Crores despite concern over the rising rupee as against dollar and also sub prime crisis in the US market.. The company revenues were also up by 25.4% T rs.5,639.73 Crores.

BSE Health Care index decreased by 22.18 points to trade at 3,820.05. Leading the loss are Sun Pharma (2.32%), GSK (1.70%), Cipla (1.06%) and Ranbaxy (0.23%).

BSE Auto index dropped 60.95 points to trade at 5,552.42. Leading to the declines are Hero Honda (2.61%), Mahindra & Mahindra (2.28%), Maruti Suzuki (1.38%) and Tata Motors (0.61%).

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