Webinfosys's Stock Market News : Mid Market Session

The market has recovered a bit from the day’s low but is still trading with a deep cut as strong selling continued across the board. All the key benchmark indices are still trading in red. The market didn’t react much to the inflation number. The inflation for the week ended June 14 came in at 11.42% as against 11.05% in earlier week. The Bank, Realty, Capital Goods and Auto stocks are the most unfavoured stocks today. The Realty, Power, Auto and Pharma stocks are facing the selling pressure today. The BSE Mid Cap and BSE Small Cap are also trading with a cut of more than 2% each.

The overall market breadth remains negative 464 stocks are advancing while 1932 stocks are declining and the 55 stocks remained unchanged on BSE.

The BSE Mid cap is lower by 153.62 points at 5,588.42 and the BSE small Cap is down by 157.19 points to trade at 6,971.89.

At 12.30 pm, BSE Sensex was at 13,949 down by 472.82 points and Nifty was at 4,190.75 down by 125.10 points.

BSE Oil & Gas index was trading 218.41 points higher at 9,458.97 as BPCL (5.32%), GAIL India (3.91%),and ONGC (2.95%) are trading in red.

BSE Metal index slipped by 298.24 points to trade at 13,625.17. The major losers are NALCO (6.66%), Sterlite Industries (3.71%), SAIL (3.39%) and Hindalco Industries (1.62%).

BSE Capital goods index dropped by 399.68 points to 10,487.55. The main losers are L&T (4.74%), BHEL (3.58%), Siemens (3.57%) and ABB (3.43%).

BSE IT index declined by 129.86 points to trade at 4,052 as Wipro (7.16%), HCL Technologies (5.43%), Infosys Technologies (2.76%) and Satyam Computer (2.35%) are trading in red.

BSE Power index decreased by 85.98 points to 2,368.93. The main losers are Tata Power (4.23%), Power Grid (3.46%), NTPC (2.32%) and Suzlon Energy (1.36%).

BSE Health Care down by 33.61 points at 4,175.54. The top losers are Divi’s Lab (2.59%), Cipla (2.61%), Cadila Healthcare (1.52%) and Pfizer (1.24%).

BSE Bankex index is trading lower by 290.17 points at 6,181.42. Losers are ICICI Bank (5.84%), HDFC Bank (4.76%), PNB (3.66%) and SBI (3.39%).

BSE Realty dropped by 186.83 points to 4,915.60. Leading to its fall are India Bull Real (7.32%), Mahindra Life (5.27%), HDIL (3.49%), DLF (3.15%) are trading lower.

BSE Auto fell by 162.78 points to 3,731.97. Leading to its fall are Mahindra & Mahindra (6.99%), Tata Motors (6.02%), Hero Honda (4.81%) and Maruti Suzuki (3.82%).

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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 US markets ended on back foot and Asian markets are trading in deep red. On Thursday, the Indian market closed in green due to short covering of the ahead of the expiry of the June derivatives contract that led the buying support in key indices. The market opened on upbeat note tracking the favoring cues from the global markets as the US Federal Reserve’s decision on Wednesday to keep the interest rates unchanged at 2%, which was according to the expectation. Further, the market was not able to sustain the same momentum and lost its gains. But selective buying at the final hours led the market close in positive territory. From the sectoral front, the oil and gas and metal stocks were in limelight as most buying was witnessed from these baskets. The BSE Sensex closed higher by 201.75 points at 14,421.82 and NSE Nifty ended up by 63.2 points at 4,315.85. We expect that market may decline during the trading session and inflation number which is due out to be today will give further direction to the market.

US markets closed lower on Thursday as Oil prices touched above $ 140 a barrel also contributed to the negative sentiment. Also the credit-market write downs and a slowing economy threatened to extend the longest slump in quarterly profits since 2002 adds to the sentiments.

The Dow Jones Industrial Average (DJIA) closed lower by 358.41 points at 11,453.42 along with NASDAQ down by 79.86 points to close at 2,321.37 and S&P 500 dropped by 38.82 points to close at 1,283.15.

Indian ADRs ended down. In technology sector, Satyam dropped by (6.05%) along with Wipro by (5.22%), Infosys by (3.86%) and Patni Computers by (2.93%). In banking sector, HDFC bank and ICICI bank decreased by (5.51%) and (5.14%) respectively. In telecommunication sector, Tata Communication advanced by (0.06%) while MTNL reduced by (1.11%). Sterlite industries declined (1.48%).

Today the major stock markets in Asia are trading in red shares plunged on Wall Street and high inflation worries. Hang Seng index is trading lower by 592.71 points at 21,862.96 along with Taiwan Weighted trading down by 311.64 points at 7,500.16 and Japan’s Nikkei trading at 13,515.12 dropped by 307.20 points.

The FIIs on Thursday stood as net seller in equity. The gross equity purchased was Rs2,901.60 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs3,005.20 Crore and gross debt sold stood at Rs187.40 Crore. Therefore, the net investment of equity reported was (Rs103.60) Crore and net debt was 0.00 Crore.

Today, Nifty has support at 4,170 and resistance at 4,384 and BSE Sensex has support at 13,979 and resistance at 14,632.

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