Pre Stock Market Commentary

The Indian Market is expected to have negative opening on weak global cues as US markets closed lower and Asian markets are trading weak along with rise in crude oil prices.On Monday,The domestic market gave its earlier gains and ended sharply lower from the day's high due to the profit booking at higher levels as index heavyweight Reliance Industries (RIL) slipped and as banking shares pared gains. Turnover was low.At the end, Sensex closed flat at 14,450.35 up by 48.86 points or 0.34%. It touched an intraday high of 14,672.69 and low of 14,416.20. Nifty also ended flat with a gain of 7.9 points or 0.18% at 4,335.35. It made a high/low of 4,398.80 and 4,317.95 respectively.From the sectoral front, buying was continued in Bank, Reality, Auto and IT stocks. However, Metal, Power, Capital Goods and Oil & Gas stocks remained out of favor as most of the selling was seen from these baskets. The market breadth was positive as 1347 stocks closed in green while 1287 stocks closed in red and 88 stocks remained unchanged.