Webinfosys's Stock Market News : Mid Market Session

The market is trading with losses backed by the weak cues from the global markets as well as the political uncertainty in the domestic arena due to the deferment of the meeting between the UPA and the let parties over the nuclear deal keeps the market on the back gear. This led to heavy selling pressures across the every sectoral indices. But the most selling is witnessed from the Capital goods, bankex and realty baskets.

The overall market breadth is negative, as 1676 stocks are declining while 686 stocks are advancing and the 76 stocks remained unchanged on BSE.

The Mid Cap and Small Cap also followed the benchmark indices to trade on the backfoot. The BSE Mid cap and Small Cap are trading lower by 99.34 points and 87.94 points at 6,260.45 and 7,687.35 respectively.

At 12.30 pm, BSE Sensex was trading lower by 311.78 points at 15,110.52 and Nifty was at 4,513.05 down by 69.35 points.

Ranbaxy labs is trading lower by (5.42%) at Rs565.75. The company has settled the disputes with Pfizer over the generic drug “Lipitor” to sell the drug in US.

BSE Metal index trading lower by 94.51 points at 15,156.97 as SH. Precoated (3.45%), Welspun Guj (2.35%), SAIL (2%), Gujarat NRE (1.93%) and Bhushan Steel (1.23%) closed in negative.

BSE Capital goods index declined drastically by 429.28 points to trade at 11,690.05. Major losers are Bhel (4.88%), L&T (4.56%), Punj Lloyd (4.42%), Elecon Eng (3.65%), Siemens (2.90%), Thermax (2.31%).

BSE Realty decreased by 195.85 points to trade at 5,689.93. Losers are Indbul Real (5.76%), Unitech (4.17%), Phoenix mill (4.03%), Ansal Infra (3.89%), Anant Raj (3.74%), Purvankara (2.67%).

BSE Oil & Gas index trading down by 145.66 points at 9,920.69 as BPCL (4.42%), HPCL (2.79%), IOCL (2.28%), RNRL (2.39%), Reliance industries (2.09%), Essar Oil (1.31%) and Aban Offshore (1.21%) trading in red.

BSE Bankex index trading lower by 264.80 points at 7,041.64. Losers are PNB (5.11%), Kotak bank (4.44%), SBI (4.29%), Federal bank (4%), ICICI bank 3.80%, Yes bank (3.60%).

From the IT index, Aptech (4.36%), NIIT Techno( 3.16%), Mosear baer (2.66%), Rolta India (2.32%), Patni Comp (2.28%) trading lower.

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Webinfosys's Stock Market News : Pre Market Session

The Indian Market is expected to have negative opening on the back of weak global cues as the US market closed in red and Asian markets are trading on weak zone. On Wednesday, the Indian market closed with downbeat note due to investors’ negative attitude led to heavy sell across the ground. The domestic market turned volatile after positive start and moved between positive and negative territory till mid session with gradual decline. Further it lost the grip to close in backfoot. The postponement of the meeting between the UPA and the Left parties over the ongoing nuclear issue, which was scheduled yesterday (Wednesday) also, added to the negative sentiments in the market. The Nifty closed below 4600 and the Sensex below 15500 levels. From the sectoral front, Metal, Capital Goods, Banking and Reality stocks were major losers as most of the selling was seen on theses baskets while FMCG and Auto stocks showed some sign of life. The BSE Sensex closed lower by 274.59 points at 15,422.31 and NSE Nifty ended down by 70.60 points at 4,582.4. We expect that market may lose ground during the trading.

US markets closed lower on Wednesday as FedEx Corp. delivered disappointing results and regional banking powerhouse Fifth Third Bancorp''s dividend cut reinforced concern bank losses and record oil will prolong the slump in profits. Morgan Stanley’s income dropped by more than half by 57% that indicates the effects of credit crises.

The Dow Jones Industrial Average (DJIA) closed lower by 131.24 points at 12,029.06 along with NASDAQ down by 28.02 points to close at 2,429.71 and S&P 500 dropped by 13.12 points to close at 1,337.81.

Indian ADRs ended negative. In technology sector, Infosys dropped by (2.84%) along with Satyam by (2.50%), Wipro by (2.31%) and Patni Computers by (10.50%). In banking sector, ICICI bank and HDFC bank decreased by (2.76%) and (2.61%) respectively. In telecommunication sector, MTNL advanced by (0.68%) while Tata Communication reduced by (4.44%). Sterlite industries declined (0.11%).

Today the major stock markets in Asia are trading in red backed by overnight fall in Wall Street and higher oil prices. Crude oil prices raised $2.67 a barrel to close at $136.68 on the New York Mercantile Exchange. Hang Seng index is trading lower by 383.91 points at 22,941.89 along with Japan’s Nikkei trading down by 293.42 points at 14,159.40 and Taiwan Weighted trading at 8,099.78 fell by 117.80 points.

The FIIs on Wednesday stood as net buyer in equity. The gross equity purchased was Rs2,546.20 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs2,173.80 Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was Rs372.40 Crore and net debt was Rs0.00 Crore.
Today, Nifty has support at 4,423 and resistance at 4,603 and BSE Sensex has support at 14,843 and resistance at 15,628.

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