Indian Stock Market Commentary

Markets likely to open positive

2009-01-18T19:16:00.000-08:00

Today the markets are likely to open positive as the US markets closed with moderate gains and the Asian markets have rallied.Today markets are expected to rally along with asian peers.SGX Nifty is also showing positive gains at 2838 up 22 points.But on higher levels profit booking is advised.On Friday,markets opened higher on the back of positive Asian Markets.Further, market continued to gain ground on the back of sustained buying interest seen across board contributed mainly by US government aid for Bank of America.Buying was seen in Reality Oil & Gas, Power, Metal, PSU, Bank and Teck stocks. However, Reality stocks remained out of favour today.This rally is likely to continue and focus for this week will be on Reliance and ITC Quaterly result.

Stock Markets closed flat

2008-12-03T04:55:00.000-08:00

The Indian market opened the day in positive note on the back of gains in global market.The key benchmark indices were unable to hold on to their gains and immediately plunged in the negative territory.The benchmark indices continued to roll between positive and negative territory despite rally in Asian indices.Markets were able to bounce back during the last few minutes of trade and closed flat.It was an extremely volatile session amid weak European indices and US markets futures. Sensex closed flat at 8,747.43. It touched an intraday high of 8,854.81 and low of 8,601.41. Nifty ended flat at 2,656.45. It made a high/low of 2,693.65 and 2,611.95 respectively.The market breadth was positive as 1180 stocks closed in green while 930 stocks closed in red and 78 stocks remained unchanged.

The BSE Metal Index outperformed and surged 146.14 points or 3.39% to 4,451.04. Tata Steel jumped 10.80%,JSW Steel, Jindal Steel, SAIL and Sterlite Industries gained 1.3-4.5%.

The BSE Reality index ended up by (3.34%) or 50.42 points at 1,559.69. Major gainers are Anant Raj (10.94%), DLF Ltd (5.44%), Parsvnath (4.86%), Housing Dev (4.21%), Penland Ltd (2.73%) and Unitech Ltd (1.75%).

Capital Goods Index was up 65.09 points or 1.08% to 6,086.58.L&T gained 1.61%. Punj Lloyd rose 6.68%. However, BHEL fell 0.34%.

The BSE IT index dropped by (3.08%) or 76.09 points to close at 2,400.09. HCL Tech, Infosys and Wipro tumbled over 4%. Satyam fell 1.27%.

BSE Oil & Gas Index fell 29.96 points or 0.56% to 5,367.91.Losers are ONGC Ltd (1.76%), BPCL Ltd (1.13%), Reliance Petroleum (0.70%) and Reliance (0.48%).

Market may slip on weak global cues

2008-09-03T21:07:00.000-07:00

The market may edge lower on weak cues from global equities.The Asian peers are trading all in red for the second consecutive day.The SJX Nifty is also down 1%.But this should be used as making fresh long positions.One should also keep eye on the NSG meeting tommorow.One should buy oil sensitive stocks like ONGC along with rate sensitive stocks.

The Week Ahead

2008-08-31T10:19:00.001-07:00

The market may extend its gains mainly triggered by lower inflation numbers.Market will also keep an eye on the meeting of Nuclear Suppliers group in Vienna.This could be the big trigger which could determine the future course of stock market.Crude prices may rise ahead of Gustav, forecast to become the worst Gulf of Mexico hurricane since Katrina. This could led stock market lower .So the week ahead is very important as there will be a tug of war between the bulls and bears.

Pre Stock Market Commentary

2008-08-25T20:29:00.000-07:00

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.

Pre Stock Market Commentary

2008-08-24T20:31:00.000-07:00

The Indian Market is expected to have positive opening as the US market closed in green.The domestic market rebounded from earlier losses to close in positive territory on the back of sustained buying in key stocks.The BSE Sensex closed higher by 157.76 points at 14,401.59 and NSE Nifty ended up by 43.60 points at 4,327.45. The BSE Mid Cap closed with gains of 19.39 points at 5,726.85 while Small Cap down by 11.17 points at 6,925.85. The BSE Sensex touched intraday high of 14,428.52 and intraday low of 14,136.86.Gainers from the BSE are Sterlite In (4.34%), Hindalco (4.26%), HUL (3.73%), HDFC (3.22%), BHEL (2.76%), Tata Power Co (2.65%), Reliance Infra (2.53%), HDFC Bank Ltd (2.48%) and Maruti Suzuki (2.18%).

Pre Stock Market Commentary

2008-08-21T19:55:00.000-07:00

The Indian Market is expected to have negative opening on weak global cues and sudden rise in crude trading above 120$.Inflation climbed to a fresh 16-year high of 12.63%, raising concerns that interest rates may be hiked further. Globally, the situation is even more worse, as experts feel that the worst of the sub-prime crisis is yet to unfold. On Thursday, the market witnessed a sharp fall during the trading and closed with heavy losses. The domestic market opened weak tracking cues from the global markets. Further market continued to lose ground ahead of inflation data.Rate sensitive realty and banking stocks plunged ahead of inflation data.Given all these factors, market experts expect another round of sell-off in the next few days.

Pre Stock Market Commentary

2008-08-20T20:58:00.000-07:00

The Indian Market is expected to have negative opening on weak global cues as Asian markets are trading weak. On Wednesday, the market closed with small gain after showing volatility during the trading session.We expect that market may remain voaltile during the trading session. Also, the inflation number for the week due to be released today evening will be a major concern for the market.Yesterday,the BSE Sensex closed higher by 134.50 points at 14,678.23 and NSE Nifty ended up by 47.50 points at 4,415.75. The BSE Mid Caps and Small Cap closed with gains of 60.05 points and 53.49 points at 5,826.37 and 7,066.23 respectively. The BSE Sensex touched intraday high of 14,746.20 and intraday low of 14,584.03.From the sectoral front, most indices closed in green and among those Metal, Capital goods, Reality, Pharma and Oil & Gas stocks were leading gainers. Mid cap and Small cap stocks also witnessed buying interest.

Mid Day Stock Market Commentary

2008-08-19T01:48:00.000-07:00

The benchmark index extended losses with Sensex hitting new intra-day low in the afternoon trade.Interest sensitive sectors were down on inflationary concerns.Asian markets were lower on fears the US government will have to rescue the mortgage finance companies Fannie Mae and Freddie Mac.Lower crude oil prices to nearly USD 112 a barrel also had no positive impact on markets.The market breadth was weak on BSE with 816 shares advancing as compared to 1,591 that declined. 96 shares remained unchanged.

Pre Stock Market Commentary

2008-08-18T20:45:00.000-07:00

Indian shares are expected to open weak on the back of weak global, Asian cues and FII selling.Indian indices closed lower due to rise in inflation & oil price .The BSE 30-share Sensex ended down 78.52 points or 0.53% to 14,645.66.Domestic markets were weak in the opening session as inflation spiked to 12.44% keeping the investors worried about interest rates that are already at the highest in seven years. Weak Asian markets too weighed on the sentiments.India's rupee fell for a fifth day. BSE Sensex opened at 14,681.14 down by 43.04 points and Nifty opened flat at 4,430.70. The market breadth was negative on BSE with 930 shares advancing as compared to 1,668 that declined, 78 shares remained unchanged.The market moved between positive and negative zone today.Negative cues from European markets further dragged the indices lower. Oil & gas, metal, power and auto stocks were under selling pressure while technology stocks seen some buying intrest on higher doller.

Post Stock Market Commentary

2008-08-18T07:13:00.000-07:00

Indian indices closed lower due to rise in inflation & oil price .The BSE 30-share Sensex ended down 78.52 points or 0.53% to 14,645.66.Domestic markets were weak in the opening session as inflation spiked to 12.44% keeping the investors worried about interest rates that are already at the highest in seven years. Weak Asian markets too weighed on the sentiments.India's rupee fell for a fifth day. BSE Sensex opened at 14,681.14 down by 43.04 points and Nifty opened flat at 4,430.70. The market breadth was negative on BSE with 930 shares advancing as compared to 1,668 that declined, 78 shares remained unchanged.The market moved between positive and negative zone today.Negative cues from European markets further dragged the indices lower. Oil & gas, metal, power and auto stocks were under selling pressure while technology stocks seen some buying intrest on higher doller.

Mid-Day Stock Market Commentary

2008-08-18T01:01:00.000-07:00

Indian stock markets opened on weak note following mixed global markets and investors booking profits after disappointing inflation numbers. The key benchmark indices were trading flat. Markets have recovered and trading flat.The market breadth turned negative from positive. IT stocks gained as dollar is strong in early trade. Public sector oil marketing companies fell as the crude oil price recovered.Oil rose over $1 to near $115 a barrel.

Pre Stock MarketCommentary

2008-08-17T08:54:00.000-07:00

The market extended losses as a bounce back in crude oil prices stroked fears of increase in inflationary pressures.It was another day in the red for bank, realty, capital goods and power stocks.Poor industrial growth, fall in car sales led the fall.The BSE Sensex and the S&P CNX Nifty settled below their psychologically important levels of 15,000 and 4,500 respectively.With the inflation at 12.44%, higher than the rate of 12.01% reported last week. After being nearly stable for four weeks, this rise has come as a major disappointment. RBI is likely to hike rates at least once more.Market is expected to open weak due to the higher inflation number and fears of a further rate hike.