Webinfosys's Stock Market News : Pre Market Session

ndian market is likely to have a gap down opening for the day, as the global markets are giving very weak cues. Further the worries about lack of participation of foreign funds may have little negative impact on the market. On Thursday, the benchmark index Sensex ended up with the loss of 113.64 points at 19,724.35, whereas Nifty also closed with a loss of 34.20 points to close at 5,866.45. We expect that the market may trade with occasional volatility & recovery can be seen at the later stages.

On Thursday, the US markets ended lower as the Dow Jones Industrial Average (DJIA) ended with a loss of 362.14 points to close at 13,567.87. Further the NASDAQ Composite & S&P 500 (SPX) index also ended down by 64.29 points & 40.94 points at 2,794.83 & 1,508.44 respectively.

Indian ADRs ended in red territory. In telecommunication sector, VSNL & MTNL plunged by (7.50%) & (6.18%) respectively. Further in Banking sector ICICI bank & HDFC bank dropped by (4.19%) & (3.22%). In Technology sector, Patni Computers decreased by (9.05%), along with Wipro, Infosys & Satyam by (1.28%), (2.00%) & (1.68%) respectively.

The major stock markets in Asia are also trading weak. Hang Seng is trading in deep red with a loss of 798.36 points at 30,694.52. Along with this, Japan''s Nikkei is trading with a loss of 289.13 points to trade at 16,581.27. Singapore''s Straits Times index is also trading lower by 66.23 points at 3,737.33, whereas Seoul Composite lost 14.92 points to trade at 2,048.22.

Yesterday, the FIIs performed mixed activity as the gross equity purchased was Rs.5442.20 (in crores), and the gross debt purchased was Rs.17.00 (in crores) as against the gross equity sold was Rs.5214.20 (in crores) and the gross debt sold was Rs.55.5 (in crores). The net investment of equity was Rs.228.00 (in crores) and the net debt investment was Rs.-38.5 (in crores).

Today, Nifty has support at 5,650 and resistance at 5935 and BSE Sensex has support at 19,224 and resistance at 19,910.

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Webinfosys's Stock News : End Market Session

The market started the day on a cheerful note as the market participants got the positive result from the Fed Meeting yesterday. In the meeting, the US Federal reserve decided to reduce federal funds rate by 25bps to 4.5% & the discount rate by a quarter-point to 5%. However, the market could not sustain its gain and started falling on the back of profit booking by the investors in the later stages. The market even went to negative territory and exhibited volatility in the mid session. Later it recovered a bit and gained 100-130 points buy finally ended in red territory amid an extremely volatile session. All the indices ended in red except Bankex, Capital goods, & PSU. After a long interval, BSE Metal entered in red territory and closed with losses. The benchmark index Sensex ended up with the loss of 113.64 points at 19,724.35, whereas Nifty also closed with a loss of 34.20 points to close at 5,866.45. Further, BSE Midcap and BSE Smallcap also closed lower by 168.67 points and 150.25 points at 7,966.54 & 9,646.61 respectively. The market breadth stood negative with 944 stocks on the advancing side and 1817 stocks on the decline side & 54 unchanged.

BSE Capital goods closed in green with the highest gain of 345.87 points at 20,141.19. Pulled it up are Alfa Laval up by (4.41%), Larsen & Toubro (4.29%), Crompton Greaves (1.95%), BHEL (1.83%) and Jyoti Structure (1.20%).

BSE Bankex also managed to gain 196.36 points to close at 10,851.69. Scrips gained are Bank Of India (5.54%), ICICI Bank (3.33%), Oriental Bank (2.54%), & Bank of Baroda (2.22%).

BSE Realty stood as the top loser of the day with a loss of 311.26 points at 10,191.51. Scrips declined mainly are Indiabulls Realty by (6.29%), Akruti Nirman (3.80%), Omaxe Ltd (3.78%), and Unitech Ltd (3.53%).

BSE Metal also stood as the loser with a loss of 302.39 points to close at 17,582.54. Scrips plunged are, Hindalco down by (4.28%), Sh. Precoated (4.14%), NALCO (4.08%) & Hindustan Zinc (3.34%).

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Webinfosys's Stock Market News : Mid Market Session

The market is paring its gains after a phenomenal rise in the morning. The morning trading was inspired by the US fed rate cut but later due to some profit booking it slipped. At this juncture investors are playing a safe mode, as the market looks highly volatile after shedding more than 200 points. However Capital goods and Metal sector have kept the momentum going. The Mid cap is lower by 85.39 points at 8,049.82 and small cap also lost by 88.16 points to 9,708.70.

The overall market breadth looks negative as 974 stocks are advancing while 1638 stocks are declining on BSE.

At 12.33 pm, BSE Sensex is flat with a gain of 10.54 points at 19,848.53, while Nifty gains 10.8 points at 5911.45.

BSE CG has once again made a new milestone of 20,927.53 with a gain of 495.36 points at 20,290.68. The sector shows immense potential because of huge order book. L&T is the shining star of this sector. It has formed a joint venture with UAE based Eastern International to build 295 villas in Dubai. L&T and ALFA are up by 4.25% and 5.42% at Rs. 4,425 and Rs. 1,050 respectively.

BSE Metal index is gaining by 111.13 points at 17,996.06. Jindal Steel has been gaining since a week and now its high by 7.28% at Rs. 12,750.10. Sterlite and Jindal Saw are up by 2.52% and 2.57% at Rs. 1,065.15 and Rs. 807.45 respectively.

BSE Bankex is moving ahead by 176.05 points at 10,831.38. HDFC, Bank of Baroda and ICICI bank are up by 3.32%, 4.13% and 1.83% at Rs. 1,708, Rs. 356.50 and Rs. 1280 respectively.

BSE Realty is low by 104.25 points at 10,398.52. The sector had been rally for nearly two weeks and now it is facing some profit booking as many stocks are in lifetime high. Unitech Ltd, DLF, Indiabull, and Sobha Developers are loosing by 0.95%, 0.67%, 2.06 and 1.45% respectively.

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