Dec 27, 2013, 09.18 AM IST
Resistance
for Nifty at 6350: RK Global
According to RK Global, from the last three candle pattern we see Nifty is stuck within a narrow trading range. 6350 still remains our upside resistance while 6230 looks extremely poised and could be challenged any time by the bears.
According to RK Global, from the last three candle pattern we see Nifty is stuck within a narrow trading range. 6350 still remains our upside resistance while 6230 looks extremely poised and could be challenged any time by the bears.
On the expiry day Nifty remained flat for the
whole session and ended on flat note with another indecisive STOCK FREE TIPScandle pattern. It made spinning top followed by a bearish candle.
From the last three candle pattern we see it is stuck within a narrow trading range. 6350 still remains our upside resistance while 6230 looks extremely poised and could be challenged any time by the bears.
Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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Dec 26, 2013, 09.05 AM IST
See flat
to positive opening: Ventura
According to a report by Ventura Securities, the markets to open on a flat to positive note on the back of firm global cues.
According to a report by Ventura Securities, the markets to open on a flat to positive note on the back of firm global cues.
Sensex, on Tuesday, fell by 68 points and closed
at 21,033, as investors started unwinding their pending
positions before the
settlement in monthly equity derivatives. Among the stocks, Tata Power, Sesa
Sterlite and Wipro were the ones which declined the most while among sector
indices, Oil & Gas, Bankex and Metal ended on a negative note. Market
breadth was, however, positive with 1,424 advances against 1,043 declines.Nifty was down by 16 points and closed at 6,268. Today we expect the markets to open on a flat to positive note on the back of firm global cues.
US markets ended on a positive note with Dow Jones and Nasdaq up by 0.2% and 0.4% respectively, as data showed orders for durable goods and sales of new homes topped forecasts. Today, US markets will witness data releases on unemployment claims. NIFTY TIPS
Asian markets are trading positive with Nikkei up by 0.9%. Hang Seng is closed on account of holiday. SGX Nifty is trading down by 1 point at 6,293. Indian ADRs ended on a mixed note. Among financial ADRs, ICICI Bank and HDFC Bank were up by 0.4% and 0.1% respectively. Among IT ADRs, Wipro was down by 0.5% while Infosys was up by 0.5%. Tata Motors was down by 0.3%.
Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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Dec 24, 2013, 09.12 AM IST
F&O
Cues: Nifty 6300 Call shed 4.8 lakh shares in OI
F&O
Cues: Nifty 6300 Call shed 4.8 lakh shares in Open Interest while Nifty 6300
Put added 7.6 lakh shares in Open Interest on December 23.
F&O Cues:-Nifty 6300 Call shed 4.8 lakh shares in Open Interest
-Nifty 6300 Put added 7.6 lakh shares in Open Interest
-Nifty 6400 Call added 6.6 lakh shares in Open Interest
-Nifty 6250 Put added 5 lakh shares in Open Interest
-Nifty 6350 Put added 2 lakh shares in Open Interest NSE TIPS
FIIs in F&O on December 23 (as per provisional data from the exchange)
-FIIs net buy Rs 537 crore in Index Futures, Open Interest contracts up by 4158
-FIIs net buy Rs 121 crore in Index Options, Open Interest contracts up by 408
-FIIs net buy Rs 46 crore in Stock Futures, Open Interest contracts up by 53434
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Dec 23, 2013, 09.00 AM IST
Nifty may
open positive: ICICIdirect
According to ICICIdirect.com, Nifty is likely to open positive on the back of positive global cues. The index is likely to trade in the range of 6230-6330.
According to ICICIdirect.com, Nifty is likely to open positive on the back of positive global cues. The index is likely to trade in the range of 6230-6330.
Post a flattish start, the Nifty witnessed a
sizeable up move of nearly 2 percent along with a rise in open interest by 6.3 percent. At the end, the Nifty closed near the day’s high at 6292, up 114 points for the day. Nifty futures premium increased from 11 to 18 points. India VIX dipped further by 3.38 percent and settled at 16.02.
FIIs bought Rs 990 crore in cash. In index futures and options segment they bought Rs 347 crore and Rs 758 crore, respectively. In stock futures, FIIs bought Rs 234 crore.
The highest Put base has now shifted to the 6200 strike, with over 66 lakh shares. The highest Call base remains at the 6300 strike with over 64 lakh shares. The 6100, 6200 & 6300 Put strikes witnessed addition of 5.71, 21.33 and 14.46 lakh shares, respectively while the 6000 Put strike saw reduction of 7.50 lakh shares. On the other hand, 6100, 6200 and 6300 Call strikes saw reduction of 9.39, 19.54 and 11.48 lakh shares, respectively.NIFTY TIPS
The Nifty is likely to open positive on the back of positive global cues. The index is likely to trade in the range of 6230-6330. The trading strategy would be to create longs near 6250-6255 for targets of 6285 and 6310. On the other hand, one can enter shorts if the index meets resistance near 6320.
Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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Dec 20, 2013, 10.22 AM IST
Sensex
maintains upward momentum; Oil & Gas, IT up over 1%
Oil and Gas and IT indices led today's upmove, rising more than a percent. Reliance Industries and ONGC rallied 1.7 percent each.
Oil and Gas and IT indices led today's upmove, rising more than a percent. Reliance Industries and ONGC rallied 1.7 percent each.
The Sensex climbed 90.79 points to 20,799.41, and the Nifty rose 24.90 points to 6,191.55 while the broader markets outperformed benchmarks with the BSE Midcap and Smallcap indices rising 0.7 percent each.
More than two shares advanced for every share falling on the BSE.
The uncertainties related to the US Fed meet and QE tapering is out of market's way, but now Indian equities are fretting about the impact of foreign fund inflows once tapering begins.BSE SHARE TIPS
Calming these fears, Gautam Trivedi of Religare Capital Markets said that withdrawal of monetary stimulus by the Fed won’t have a huge impact on EMs. Speaking to CNBC-TV18, he said that he doesn't see inflows into India slowing down significantly as FIIs are not looking at exiting the county anytime soon.
Oil and Gas and IT indices led today's upmove, rising more than a percent. Reliance Industries and ONGC rallied 1.7 percent each after the Cabinet decided to allow Reliance to sell natural gas at new price of USD 8.4 per million British thermal units as against the current USD 4.2.
Shares of TCS and Wipro gained more than 1.3 percent while their rival Infosys , which rallied 50 percent since June, rose 0.6 percent.
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Dec 19, 2013, 09.28 AM IST
Nifty may trade between 6170-6300:
Magnum Equity Broking
According to Magnum Equity Broking,
Nifty is likely to trade between 6300 and 6170 with positive biasness.
The BSE Sensex rose by 247.72 points, or 1.20 percent, to 20,859.86. Also, the broad-based NSE index Nifty shot up by 78.10 points, or 1.27 percent, to end at 6,217.15.
European equities closed higher on Wednesday, recouping the previous day's losses, as investors prepared for the outcome of the US Federal Reserve's final policy meeting of the year. US stocks surged on Wednesday, with the S&P 500 and Dow industrials closing at records, after the Federal Reserve moved to cut stimulus, saying it expects the labor market will continue to improve and vowing to keep interest rates low.NIFTY TIPS
Global cues are upbeat today with them SGX Nifty is showing 42 points up move in morning trade indicating that Indian market would open with a gap today and Nifty is likely to trade between 6300 and 6170 with positive biasness.
Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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Dec 18, 2013, 09.59 AM IST
Nifty may
trade between 6090-6200: Magnum Equity Broking
According to Magnum Equity Broking, Nifty is expected to trade between 6200 and 6090 with sideways biasness.
According to Magnum Equity Broking, Nifty is expected to trade between 6200 and 6090 with sideways biasness.
The benchmark BSE index fell 0.23 percent, or 47.38 points, to end at 20,612.14, its lowest close since November 28 after earlier gaining as much as 0.6 percent during the day. The BSE index is now 4.1 percent away from the record high. The broader NSE index ended 0.25 percent lower, or 15.65 points, to end at 6,139.05.
European equities closed lower on Tuesday as investors looked ahead to the US Federal Reserve's last policy meeting of the year. US stocks closed slightly lower on Tuesday with investors reluctant to make decisive moves a day before hearing whether the Federal Reserve will begin curbing its monthly asset purchases in 2013.NIFTY TIPS
Global cues are varied today, with them SGX Nifty is showing 15 points up move in morning trade indicating that Indian market may open little positive today and Nifty is expected to trade between 6200 and 6090 with sideways biasness. However any unexpected move by RBI today may propel markets either side.
Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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Dec 16, 2013, 10.35 AM IST
Rupee
lower ahead of key WPI data
Last week, retail inflation spiked to its highest on record, raising expectations of another rate hike by the central bank and adding to the woes of the embattled government.
Last week, retail inflation spiked to its highest on record, raising expectations of another rate hike by the central bank and adding to the woes of the embattled government.
Fed taper fears also weighing on INR with outcome due on Wednesday after RBI meet.STOCK TIPS
Last week, retail inflation spiked to its highest on record, raising expectations of another rate hike by the central bank and adding to the woes of the embattled government.
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Dec 13,
2013, 09.40 AM IST
Sensex drops 150 pts, Nifty breaks 6200; ICICI
Bank drags
RBI governor says retail inflation is beyond the central bank's comfort zone as a rate hike next week looks inevitable.
RBI governor says retail inflation is beyond the central bank's comfort zone as a rate hike next week looks inevitable.
The market fell further in early trade on last
trading day of the week, tracking nervousness across the globe on worries of
Fed tapering in the forthcoming FOMC meeting due next week. Rate hike fears too
spooked market and currency today.The Sensex lost 154.80 points or 0.74 percent to 20,770.81, and the Nifty fell 51.55 points or 0.83 percent to 6,185.50.
ICICI Bank is the biggest loser, falling 3 percent on rate hike fears followed by BHEL with a 2.4 percent loss.
Index heavyweights Reliance Industries, ITC, HDFC and Larsen and Toubro slipped 1-1.5 percent.
However, Tata Motors and Bharti Airtel gained 1.7 percent each, rebounding after three-day fall. IT and pharma stocks too gained on fall in rupee.NSE TIPS
It was a double whammy for the economy on Thursday evening - industrial production contracted by nearly 2 percent in October and retail inflation for November jumped to over 11 percent that dampened hopes of a turnaround in the economy.
RBI governor says retail inflation is beyond the central bank's comfort zone as a rate hike next week looks inevitable.
Indian rupee opened lower by 29 paise at 62.10 against the US dollar on Friday versus previous day's closing value of 61.81 per dollar.
According to Rohini Malkani of Citigroup, consumer price index at 11.2 percent exceeds RBI's baseline estimates. She expects the central bank to hike the repo rate by 25 basis points in its policy on December 18.
She also expects the repo rate to stabilise at 8 percent until more clarity emerges on the monetary policy framework from the Urjit Patel committee report.
"We do not expect much comfort from November WPI, pegging it close to 7.2 percent," Malkani adds.
The global mood is cautious. Asian markets are mixed on uncertainty over timing of scaling back fiscal stimulus by Federal Reserve. US markets slipped for the third session with the Dow closing down 100 points while European markets too feel the heat falling between 0.4-1 percent on Thursday.
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Dec 12, 2013, 10.15 AM IST
Nifty
holds 6250 amid selling pressure; Oct IIP data eyed
A CNBC-TV18 poll sees October index of industrial production contracting 1.2 percent as against a growth of 2 percent last month, largely driven by a high base effect.
A CNBC-TV18 poll sees October index of industrial production contracting 1.2 percent as against a growth of 2 percent last month, largely driven by a high base effect.
Equity benchmarks fell nearly 0.7 percent in
morning trade ahead of industrial output data that will be announced after
market hours today. A CNBC-TV18 poll sees October index of industrial
production contracting 1.2 percent as against a growth of 2 percent last month,
largely driven by a high base effect.STOCK BSE TIPSThe Sensex declined 138.17 points to 21,033.24, and the Nifty slipped 43.15 points to 6,264.75. Declining shares outnumbered advancing ones by a ratio of 604 to 522 on the BSE.
Weakness in Asian markets due to Fed tapering fears is also hurting the market. Investors are keenly waiting for RBI monetary policy and FOMC meeting due next week.
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Dec 11, 2013, 10.11 AM IST
Nifty hovers around 6300 amid pressure; NTPC
rebounds
"A good monsoon is a green shoot but its overall macro impact may be limited," Chhaochharia wrote in a recent note on India Market Strategy. He says Nifty can test 6,900 next year.
"A good monsoon is a green shoot but its overall macro impact may be limited," Chhaochharia wrote in a recent note on India Market Strategy. He says Nifty can test 6,900 next year.
Equity benchmarks fell around 0.5 percent in
morning trade today weighed down by banks, oil and gas, technology, capital
goods and auto stocks.The Sensex dipped 103.39 points to 211,51.87, and the Nifty slipped 33.40 points to 6,299.45. About 493 shares have advanced, 704 shares declined, and 68 shares are unchanged on the BSE.
The current phobia over impending Fed taper is not a big fundamental worry for India; instead a depreciating rupee may be a trend, asserts UBS.
Speaking to CNBC-TV18, Gautam Chhaochharia, Head of India Research, at UBS says directionally the mood will be positive next year, but the upside can be capped in the near term. NIFTY TIPS
"A good monsoon is a green shoot but its overall macro impact may be limited," Chhaochharia wrote in a recent note on India Market Strategy. He says Nifty can test 6,900 next year.
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Dec 10, 2013, 09.10 AM IST
See
positive opening: Ventura Securities
According to Ventura Securities, market may open on positive note on the back of firm domestic cues.
According to Ventura Securities, market may open on positive note on the back of firm domestic cues.
Sensex, on Monday, rose by 330 points and closed
at 21,326, after the main opposition party BJP, widely seen by investors as being more business friendly, swept recent state elections, even as doubts persist about how long the rally can last.
Among the stocks, ICICI Bank , Sesa Sterlite and Larsen and Toubro were the ones which advanced the most while among sector indices, capital goods, bankex and realty ended on a positive note. Market breadth was, however, negative with 1,201 advances against 1,316 declines.
Nifty was up by 104 points and closed at 6,364. Today we expect the markets to open on a positive note on the back of firm domestic cues.
US markets ended on a positive note with Dow Jones closing flat and Nasdaq up by 0.2 percent, as investors weighed the timing of any cuts to Federal Reserve monetary support amid budget negotiations in Washington.
Asian markets are trading on a negative with Nikkei and Hang Seng down by 0.3 percent and 0.2 percent respectively. SGX Nifty is trading up by 25 point at 6,416. MCX TIPS
Indian ADRs ended on a mixed note. Among financial ADRs, ICICI Bank and HDFC Bank were up by 5.0 percent and 2.2 percent respectively. Among IT ADRs, Wipro was up by 1.0 percent while Infosys was down by 0.5 percent. Tata Motors was up by 0.5 percent.
Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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Dec 09, 2013, 09.30 AM IST
Here's
what brokerages are saying about BJP's 4-0 victory
The prospects of a BJP led stable Government in 2014 elections are rising. Final outcome, to a large extent, would depend on whether BJP can replicate success in the state of UP, Bihar and Maharashtra. Cyclical sectors should continue to outperform.
The prospects of a BJP led stable Government in 2014 elections are rising. Final outcome, to a large extent, would depend on whether BJP can replicate success in the state of UP, Bihar and Maharashtra. Cyclical sectors should continue to outperform.
The
outcome of the assembly elections in Madhya Pradesh, Rajasthan, Delhi and
Chhattisgarh has turned out to be better than market expectations. The Sensex
and Nifty hit new peaks of 21,483.74 and 6,415.25 respectively in early trade
Monday. A glance at how brokerages expect the market to play out in the medium
term.CLSA :
The
prospects of a BJP led stable Government in 2014 elections are rising. Final
outcome, to a large extent, would depend on whether BJP can replicate success
in the state of UP, Bihar and Maharashtra. Cyclical sectors should continue to
outperform.
Our favourite cyclicals are ICICI, Axis, Maruti, L&T, M&M and select power utilities.
Kotak Securities:
Our favourite cyclicals are ICICI, Axis, Maruti, L&T, M&M and select power utilities.
Kotak Securities:
Market
expectations may vary but we expect a gradual economic and fiscal recovery.
Any new government will have to repair India’s fiscal position and address India’s investment challenges.
Investment pick-up may be some time away, given severe challenges in all the inputs (capital, resources, approvals, workforce and land) for investment.STOCK NIFTY TIPS
CIMB:
Any new government will have to repair India’s fiscal position and address India’s investment challenges.
Investment pick-up may be some time away, given severe challenges in all the inputs (capital, resources, approvals, workforce and land) for investment.STOCK NIFTY TIPS
CIMB:
We would
not extrapolate these results to a nationwide level for the Lok Sabha elections
due in Mar/Apr 2014. Either way, playing on national elections with the market
at 14.2 times forward P/E is just too much of a bet. We maintain our 12-month
forward Nifty index target of 6,000
Religare:
Religare:
State elections results in four states point
to a decisive victory for the BJP, and vindicate the market’s positive stance
on anti-incumbency. We expect near-term euphoria to gloss over the weak macro
(and our cautious portfolio stance) as 2014’s scenarios get recalculated. We
would buy beta with rate-cyclicals (financials, capital goods, infra); midcaps
would see renewed favour.
Credit Suisse:
This was not exactly the 4-0 expected by the
markets, but it comes close. The rally in beta may last a bit longer. But
December quarter results are likely to be a wakeup call, as fundamentals on the
ground continue to deteriorate. We maintain that this rally in industrials, PSU
banks and metals is an opportunity to trim positions.Credit Suisse:
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Dec 06, 2013, 10.58 AM IST
MCX
Goldguinea January contract trades lower
Goldguinea prices on MCX were trading with marginal loss. MCX Goldguinea January contract was trading at Rs 23670 down Rs 81, or 0.34 percent.
Goldguinea prices on MCX were trading with marginal loss. MCX Goldguinea January contract was trading at Rs 23670 down Rs 81, or 0.34 percent.
MCX GOLDGUINEA January contract was trading at Rs 23670 down Rs 81, or 0.34 percent. The GOLDGUINEA rate touched an intraday high of Rs 23731 and an intraday low of Rs 23634. So far 98 contracts have been traded. GOLDGUINEA prices have moved down Rs 430, or 1.78 percent in the January series so far.COMMODITY FREE TIPS
MCX GOLDGUINEA February contract was trading at Rs 23284 down Rs 66, or 0.28 percent. The GOLDGUINEA rate touched an intraday high of Rs 23346 and an intraday low of Rs 23261. So far 19 contracts have been traded. GOLDGUINEA prices have moved down Rs 316, or 1.34 percent in the February series so far.
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Dec 05, 2013, 09.56 AM IST
UBS sets Nifty target at 6,900 for
2014
UBS said that elections are the key
theme for first half of 2014 and the recent rally implies that a Narendra
Modi-led BJP government is no longer viewed as a low-probability scenario.
The investment bank adds tapering is not a big fundamental worry for India, but a depreciating rupee may yet be a likely trend. More than 30 percent of Nifty earnings benefit from the depreciating rupee and this could provide some stability for overall market earnings.
Also Read: VIX shows market betting on 300-pt Nifty swing on Dec 09
UBS adds that elections are the key theme for first half of 2014 and the recent rally implies that a Narendra Modi-led BJP government is no longer viewed as a low-probability scenario. The BJP emerged as the biggest winner in four key state elections, exit polls forecast on Wednesday, a possible blow to the ruling Congress party ahead of a general election due next year.FREE NIFTY TIPS
The bank is "overweight" on Indian IT, telecommunications, media, oil and gas, private banks and power shares, while being "underweight" on two-wheelers, consumer discretionary, infrastructure and capital goods, government banks.
UBS remains "neutral" on Indian four-wheelers, rural-focused consumer staples, metals, mining and pharmaceutical stocks.
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Dec 04, 2013, 10.35AM IST
Nifty
below 6200 amid volatility; ICICI weak, Sesa gains 2%
The Sensex declined 41.55 points to 20,813.37, and the Nifty fell 12.45 points to 6,189.40. Advancing shares outnumbered declining ones by a ratio of 655 to 562 on the BSE.
The Sensex declined 41.55 points to 20,813.37, and the Nifty fell 12.45 points to 6,189.40. Advancing shares outnumbered declining ones by a ratio of 655 to 562 on the BSE.
The market
continued to trade in a tight range with a negative bias from early trade due
to lack of trigger. The market is waiting for outcome of five state elections
due on December 8. Delhi goes to vote today while polling in Rajasthan, Madhya
Pradesh, Mizoram and Chattisgarh is completed.The Sensex declined 41.55 points to 20,813.37, and the Nifty fell 12.45 points to 6,189.40. Advancing shares outnumbered declining ones by a ratio of 655 to 562 on the BSE.
The widely held view is that the market may tumble if the BJP does not fare as well as is expected of it. However, Arindam Ghosh, MD and CEO, Blackridge Capital Advisors feels the market has already priced in the poll results, and hence that would not be a key trigger from hereon.
Shares of ICICI Bank and L&T are biggest losers in the Sensex, falling over 1 percent followed by ITC , HUL , Sun Pharma and HDFC with a 0.4-0.9 percent loss.
However, Sesa Sterlite and Tata Power topped the buying list, gaining more than 2 percent.
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Dec 03, 2013, 10.11 AM IST
Sensex,
Nifty volatile; Hindalco & Jindal Steel rise 3%
Shares of ITC, HDFC, HDFC Bank, M&M, Reliance Industries, Tata Motors, Dr Reddy's Labs, ONGC, HUL and State Bank of India lost between 0.2-0.8 percent.
Shares of ITC, HDFC, HDFC Bank, M&M, Reliance Industries, Tata Motors, Dr Reddy's Labs, ONGC, HUL and State Bank of India lost between 0.2-0.8 percent.
The Sensex declined 15.10 points to 20,882.91, and the Nifty slipped 6.50 points to 6,211.35. Advancing shares outpaced declining ones by a ratio of 696 to 499 on the BSE.
Even as the market is consolidating its gains of the past couple of months, sentiment remains positive, says Anup Bagchi of ICICI Securities.
In an interview to CNBC-TV18, he said the Nifty could face resistance at 6300. He expects some volatility in the market near term around the results of the assembly elections.
Shares of ITC, HDFC, HDFC Bank, M&M, Reliance Industries, Tata Motors, Dr Reddy's Labs, ONGC, HUL and State Bank of India lost between 0.2-0.8 percent.BSE STOCK TIPS
However, Hindalco Industries and Jindal Steel are stars today with more than 3 percent gains.
Capital goods stocks continued to see buying interest with the L&T and BHEL gaining 0.8 percent and 1.3 percent, respectively.
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Nov 29, 2013, 09.38 AM IST
Nifty may
trade between 6050-6140: Magnum Equity Broking
According to Magnum Equity Broking, Nifty is expected to trade between 6140 and 6050 with sideways biasness.
According to Magnum Equity Broking, Nifty is expected to trade between 6140 and 6050 with sideways biasness.
Indian market rose on Thursday, recovering from
two sessions of falls as Power Grid Corporation of India and other blue chips recouped recent losses, while Dr Reddys Laboratories gained after a rival received an import ban on a key competing drug from US regulators.
The benchmark BSE Sensex rose 0.56 percent, or 114.65 points, to end at 20,534.91, rebounding from two consecutive days of falls. The broader Nifty rose 0.57 percent, or 34.75 points, to end at 6,091.85, about 8 points short of a psychologically important 6,100 level.
European equities closed higher on Thursday, with the expulsion of former Prime Minister Silvio Berlusconi from the Italian Senate fuelling hopes of stability, and after a positive handover from Wall Street boosting investor sentiment. US markets were shut on Thursday for the Thanksgiving holiday. Asian equity markets declined on the final trading day of the week as investors engaged in profit-taking in the absence of a lead from Wall Street.FREE NIFTY TIPS
Global cues are varied today, with them SGX Nifty is showing 7 points up move in morning trade indicating that Indian market may open flat today and Nifty is expected to trade between 6140 and 6050 with sideways biasness.
Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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Nov 27, 2013, 09.15 AM IST
Indian rupee rises to 62.45 per dollar in
early trade
A strong euro and a weak dollar coupled with RBI's intervention in the market might aid rupee, Pramit Brahmbhatt of Alpari India said.
A strong euro and a weak dollar coupled with RBI's intervention in the market might aid rupee, Pramit Brahmbhatt of Alpari India said.
Indian rupee kicked-off trade at 62.45 per
dollar on Wednesday, up 5 paise compared to previous close of 62.50 per dollar. Pramit Brahmbhatt of Alpari India feels the rupee will be rangebound today with a slight negative bias owing to a weak equity market and strong month-end dollar demand by oil marketing companies and other importers. BSE FREE TIPS
However a strong euro and a weak dollar coupled with RBI's intervention in the market might aid rupee, he adds.
According to Brahmbhatt, the range for the day is seen between 62.1-63.10/USD.
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Nov 25, 2013, 09.08 AM IST
See flat to positive opening: Ventura
Securities
According to Ventura Securities, markets to open on a flat
to positive note on the back of firm global cues.
Logging its third straight weekly
loss, Sensex, on Friday, fell by 12 points and closed at 20,217, as
uncertainty
over US Fed tapering its economic stimulus hit positive sentiment that helped
the benchmark log gains initially
Among the stocks, Sesa Sterlite ,
Tata Motors and Bajaj Auto were the ones which declined the most while among
sector indices, FMCG, realty and auto ended on a negative note. Market breadth
was negative with 1,146 advances against 1,288 declines.
Nifty was down by 3 points and
closed at 5,995. Today we expect the markets to open on a flat to positive note
on the back of firm global cues.
US markets ended on a positive note
with Dow Jones and Nasdaq up by 0.3 percent and 0.6 percent respectively, as
improved data on employment and retail sales offset concern over a cut in
monetary stimulus. This week, US markets will witness data releases on pending
home sales, building permits, CB consumer confidence, core durable goods orders
and unemployment claims.
Asian markets are trading positive
with Nikkei and Hang Seng up by 1.2 percent and 0.2 percent respectively. SGX Nifty
is trading up by 24 points at 6,055. BSE FREE TIPS
Indian ADRs ended on a positive
note. Among financial ADRs, ICICI Bank and HDFC Bank were up by 1.8 percent and
2.5 percent respectively. Among IT ADRs, Wipro and Infosys were up by 2.3
percent and 0.8 percent respectively. Tata Motors was up by 0.3 percent.
Disclaimer: The views and investment
tips expressed by investment experts on moneycontrol.com are their own, and not
that of the website or its management. Moneycontrol.com advises users to check
with certified experts before taking any investment decisions.
Nov 22, 2013, 09.36 AM IST
Nifty may
remain range-bound between 5950-6040: Magnum
According to Magnum Equity Broking, Nifty is expected to remain range-bound between 6040 and 5950.
According to Magnum Equity Broking, Nifty is expected to remain range-bound between 6040 and 5950.
The BSE Sensex ended lower 1.97 percent, or 406.08 points, at 20,229.05, marking its lowest close in a week. The broader Nifty closed down 2.02 percent, or 123.85 points, at 5,999.05, marking its biggest single-day fall since September 23 and closing below the key 6,000 level. NIFTY TIPS
European equities closed mixed on Thursday as investors reacted to worse than-expected data for the euro zone, while good earnings from companies including Johnson Matthey offset investor concerns. U.S. stocks climbed on Thursday, with the Dow Jones Industrial Average posting its first finish above 16,000, as the number of Americans filing for jobless benefits declined to a near two-month low.
Global cues are varied today, with them SGX Nifty is showing 9 points up move in morning trade indicating that Indian market may open flat today and Nifty is expected to remain range-bound between 6040 and 5950.
Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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Nov 21, 2013, 10.26 AM IST
The dollar sales started when the rupee was trading at around 62.90, they added.
The Reserve Bank of India is likely to have
stepped in to prop up the rupee by selling dollars via state-run banks, two
traders said on Thursday.The dollar sales started when the rupee was trading at around 62.90, they added.STOCK TIPS
The rupee rose to as high as 62.75 to the dollar after the suspected intervention from the Reserve Bank of India. It was last trading at 62.86/88, after weakening to as much as 62.93, versus its close of 62.57/58 on Wednesday.
The rupee was under pressure due to broad dollar gains after minutes from the U.S. Federal Reserve's October policy meeting suggested the central bank could soon move to taper monetary stimulus.
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Nov 19, 2013, 10.11AM IST
Gold treads water after sharp losses; stimulus
woes weighs
Gold was boosted last week after Janet Yellen, the Federal Reserve's chief in waiting, indicated she would continue the U.S. central bank's ultra-easy monetary policy. The Fed's USD 85 billion in monthly bond purchases burnish gold's appeal as a hedge against inflation.
Gold was boosted last week after Janet Yellen, the Federal Reserve's chief in waiting, indicated she would continue the U.S. central bank's ultra-easy monetary policy. The Fed's USD 85 billion in monthly bond purchases burnish gold's appeal as a hedge against inflation.
Gold was boosted last week after Janet Yellen, the Federal Reserve's chief in waiting, indicated she would continue the US central bank's ultra-easy monetary policy. The Fed's USD 85 billion in monthly bond purchases burnish gold's appeal as a hedge against inflation.
However, on Monday, two top Fed officials from opposite sides of the policy spectrum pointed to improvement in the US economy, adding weight to the notion that the bank is getting close to reducing the pace of its bond buying.
"Markets are just reacting to those stimulus comments because there has been no other significant data and physical demand is failing to provide a floor," said one Hong Kong-based trader.
Spot gold was unchanged at USD 1,273.91 an ounce at 0310 GMT, after dropping 1.2 percent on Monday.COMMODITY TRADING TIPS
Asian shares edged to a two-week high denting the metal's safe-haven appeal.
Silver also declined for a second session, hitting a fresh three-month low on Tuesday as some Chinese speculators liquidated holdings.
Chart analysts said gold prices looked set to drop even more.
"Support is at the recent low of USD 1,261, followed by the USD 1,251 low from October 15th," ScotiaMocatta analysts said in a note, adding that a breach of the mid-October low would see the metal dropping further to June lows of USD 1,180.
Investor sentiment continued to remain bearish amid stronger stock markets. SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings fell 1.2 tonnes to 864.51 tonnes on Monday - the fund's lowest since February 2009.
Physical demand, which usually tends to provide a floor for prices at lower levels, failed to emerge in a robust manner even after Monday's price drop.
Demand has lately failed to pick up even below the USD 1,300 level as consumers had bought a lot of bullion when prices fell earlier in the year.
Dealers said prices now have to drop below USD 1,200 to see a sharp jump.
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Nov 18, 2013, 10.38 AM IST
BSE Sensex
rally continues on strong rupee; banks lead
Financials, FMCG, oil & gas, technology,
power and capital goods stocks are witnessing buying interest whereas Tata
Motors, Coal India, Sesa Sterlite and Dr Reddys Labs are the only losers in the
Sensex.
10:35am Amara Raja Batteries hits
new high During the period, net sales of the company was at Rs 804.72 crore as against Rs 716.15 crore in the same period corresponding fiscal.
"I am happy to note that our sustained good performance continues to be in line with our annual plan and expectations, despite slowing economy, volatile rupee and sluggish demand in the automotive and UPS OEM sectors,"Jayadev Galla, Vice Chairman and Managing Director of the company said. The stock gained 3.7 percent.
10:25am The market continued to rally on Monday with the Sensex rising nearly 300 points, led by recovery in Indian rupee against the US dollar.STOCK MCX TIPS
The Sensex is up 287.67 points or 1.41 percent at 20687.09, and the Nifty is up 82.90 points or 1.37 percent at 6139.05. Three shares advanced for every share declining on the BSE.
Irrespective of where the Sensex or the Nifty is headed, the approach should be bottom up, says Sanjay Dutt, Director, Quantum Securities. He feels much of the action will now shift to midcap stocks.
Beaten down cyclicals like banking, metals and select auto could regain favour with the street on the growing view that the worst may be over for the economy, he says. He expects the Nifty to consolidate in the 6000-6250 range in the near term. He asks investors to concentrate on stocks that are likely to benefit from changes in the economy.
Financials, FMCG, oil & gas, technology, power and capital goods stocks are witnessing buying interest whereas Tata Motors , Coal India , Sesa Sterlite and Dr Reddys Labs are the only losers in the Sensex.
Meanwhile, the rupee gained 31 paise to 61.80 against the US dollar. RBI today will conduct open market operations for Rs 8,000 crore.
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Nov 14, 2013, 10.05 AM IST
Resistance for Nifty at 6100: HDFC Securities
According to HDFC Securities, support on Nifty is at 5,950 while next resistance for the index is at 6,100.
According to HDFC Securities, support on Nifty is at 5,950 while next resistance for the index is at 6,100.
Markets declined further on Wednesday as the
main indices ended in the red for the seventh consecutive session. Weak global cues on uncertainty over Fed tapering seemed to affect the Indian markets. Lower-than-expected factory output and CPI inflation above 10 percent, too, caused selling pressure in the market.
While the BSE Sensex ultimately closed 88 points or 0.4 percent lower at 20,194, the Nifty lost 28 points or 0.5 percent to close at 5,990. Broad market indices too ended lower as the BSE midcap and smallcap indices lost 0.6 percent and 0.7 percent respectively. Market breadth was negative as the A/D ratio was 0.7:1 on the BSE. NSE cash turnover was Rs 11,517 crore Vs Rs 10,897 crore in the previous session.
Barring the BSE auto, consumer durables and metal indices, all the sectoral indices ended lower. The top losers were the BSE realty, FMCG, IT and bankex indices. The top gainers from the BSE 30 were Hindalco Industries , Tata Steel , Mahindra and Mahindra and Sun Pharmaceutical Industries . The top losers were GAIL India , Sesa Sterlite , Cipla and Hero Motocorp .NIFTY FREE TIPS
As per the provisional figures on Wednesday, FIIs were net buyers of Rs 300 crore in the cash market while FIIs were net sellers of Rs 118 crore in the F&O market. DIIs were net sellers of Rs 253 crore in the cash market.
Markets could witness bounce back after falling for seven consecutive sessions following strong global and Asian cues. A weaker dollar also could aid the markets to inch up higher during the day. Important support on Nifty is at 5,950 while next resistance is at 6,100. Among the sectors, IT and Banks could outperform.
Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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Nov 13, 2013, 09.15 AM IST
See
negative opening: Ventura Securities
According to Ventura Securities, market to open on a negative note on the back of weak domestic cues.
According to Ventura Securities, market to open on a negative note on the back of weak domestic cues.
Sliding for the sixth day, Sensex, on Tuesday,
fell by 209 points and closed at 20,282, over concerns that the US Federal Reserve may scale back its bond purchases earlier than expected.
Among the stocks, Tata Motors , Sesa Sterlite and Tata Power were the ones which declined the most while among sector indices, bankex, power and metal ended on a negative note. Market breadth was negative with 975 advances against 1,489 declines.
Nifty was down by 61 points and closed at 6,018. Today we expect the markets to open on a negative note on the back of weak domestic cues.
US markets ended on a negative note with Dow Jones down by 0.2 percent while Nasdaq ending flat, as corporate earnings and an improving economy fueled speculation that the Federal Reserve will reduce stimulus next month.
Asian markets are trading negative with Nikkei and Hang Seng down by 0.4 percent and 1.2 percent respectively. SGX Nifty is trading down by 36 points at 6,031.
Indian ADRs ended on a mixed note. Among financial ADRs, ICICI Bank and HDFC Bank were down by 2.5 percent and 2.2 percent respectively. Among IT ADRs, Wipro was up by 0.5 percent while Infosys was down by 0.9 percent. Tata Motors was down by 2.8 percent.STOCK TIPS
Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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Nov 12, 2013, 09.50 AM IST
Nifty may
trade range bound between 6020-6130: Magnum
According to Magnum Equity Broking, Nifty is likely to trade range bound between 6130 and 6020.
According to Magnum Equity Broking, Nifty is likely to trade range bound between 6130 and 6020.
Indian market fell on Monday marking their fifth
consecutive day of decline. The Nifty fell almost 1 percent yesterday to its lowest close in nearly a month after better-than-expected US jobs data revived concerns the Federal Reserve would start tapering its monetary stimulus as early as next month.
The Sensex fell 0.85 percent, or 175.19 points, to 20,490.96, marking its fifth consecutive day of decline. The broader Nifty fell 1.01 percent, or 61.95 points, to 6,078.80, marking its lowest close since October 17. Blue chips were among the worst hit, with Larsen and Toubro falling 3.2 percent and Reliance Industries losing 1.4 percent.
A surprise surge in US jobs growth heightened worries boosting the dollar against the euro, yen and the rupee while Asia shares fell to their four-week lows. Selling worth of over 10 billion rupees of index futures by foreign funds on Friday also weighed on the sentiment, raising worries about a potential slowdown in their buying volume ahead of key macroeconomic data this week. India will report consumer price inflation and industrial output data today, and wholesale price inflation on Friday. STOCK TRADING TIPS
European equities closed higher on Monday with significant gains from the healthcare sector, following last week's brief sell-off over concerns of the early reduction in the U.S. Federal Reserve's stimulus program. US stocks stepped mildly higher climbed on Monday as Wall Street looked to earnings reports this week from retailers including Wal-Mart Stores and Macy's to get a read on consumer spending.
Global cues are slightly positive today with them SGX Nifty is showing 6 points up move in morning trade indicating that Indian market may open little optimistic today and Nifty is likely to trade range bound between 6130 and 6020.
Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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Nov 11, 2013, 09.36 AM IST
Nifty may trade between 6080-6160: Magnum
Equity Broking
According to Magnum Equity Broking, Nifty is expected to trade between 6160 and 6080 with downward biasness.
According to Magnum Equity Broking, Nifty is expected to trade between 6160 and 6080 with downward biasness.
Markets continued their losing spree for the
fourth straight seesion on Friday as investors turned cautious and booked profits at higher levels ahead of the US jobs data. Indices fell to post their worst weekly decline in more than three months as profit-taking continued to hit blue chips after the benchmark index hit a recent record high.
The Sensex closed down 0.75 percent at 20,666.15. It dropped 2.7 percent on the week, its biggest weekly fall since the week to August 2 after hitting a record high of 21,321.53 in a special session on Sunday. The broader Nifty closed down 0.75 percent at 6,140.75, falling 2.8 percent on the week, its worst week since September 27.
European equities closed down on Friday after a better-than-expected figure for non-farm payrolls was released in the US, fueling investor speculation about the tapering of the Federal Reserve's stimulus measures. US stocks climbed on Friday, with the S&P 500 bouncing back from its worst hit in 10 weeks to turn positive for the week, after a brighter-than expected report on the labor market.STOCK TIPS
Global cues are mixed today, with them SGX Nifty is showing 39 points cut in morning trade indicating that Indian market may open soft today and Nifty is expected to trade between 6160 and 6080 with downward biasness.
Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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Nov 08, 2013, 09.18 AM IST
Indian rupee opens at 62.69 per
dollar; down 28 paise
ECB's surprise move to cut interest
rates to 0.25 percent forced euro to trade weak against the dollar. This
coupled with weak domestic fundamentals and weak equity markets will keep the
rupee weak, says Pramit Brahmbhatt, Alpari India.
The euro struggles in early Asian trade after the European Central Bank's surprise interest rate cut sent the single currency plunging to near eight-week lows, but the dollar's gains were tempered ahead of the key US payrolls report due later today.FREE STOCK TIPS
Also Read - See rupee down at 65-66/$ next year: HSBC
Pramit Brahmbhatt, Alpari India said, "ECB's surprise move to cut interest rates to 0.25 percent forced euro to trade weak against the dollar. This coupled with weak domestic fundamentals and weak equity markets will keep the rupee weak. The range for the day is seen between Rs 62.12-63.10/USD."
www.Shristocktips.com
Nov 06, 2013, 12.11 PM IST
Sensex, Nifty volatile; banks,
metals, oil & gas weak
Technology, healthcare and power
stocks are on buyers' radar while financials, oil & gas and metals stocks
are under pressure.
The market is directionless in noon trade due to
lack of trigger. The Sensex is down 46.70 points at 20928.09, and the Nifty is
down 20.75 points at 6232.40.According to Prabodh Agarwal, president and head of research (institutional equities) at IIFL, so far while the market has been driven through liquidity, going forward, the fundamentals have to catch-up; both the economic outlook as well as the earnings outlook has to improve for the market to sustain the rally.STOCK TIPS
He believes the outlook on the earnings is definitely changing at the margin. "The latest result season has been much better than expected. Almost 80 percent of the companies that have reported so far and they have reported either above or inline with the expectations," Agarwal explained.
Technology, healthcare and power stocks are on buyers' radar while financials, oil & gas and metals stocks are under pressure.
wwwShristocktips.com
Nov 01, 2013, 09.33 AM IST
Resistance
for Nifty at 6350: HDFC Securities
According to HDFC Securities, strong support for Nifty is 6236, while immediate resistance for the index is at 6350.
According to HDFC Securities, strong support for Nifty is 6236, while immediate resistance for the index is at 6350.
The bull remained in control at Dalal Street as
the main indices surged higher for the third consecutive session. The main indices closed at another record closing high for the year 2013.
While the BSE Sensex closed 130.55 points or 0.62 percent higher at 21,164.52, the Nifty gained 47.45 points or 0.76 percent to close at 6,299.15. Broad market indices too ended higher as the BSE midcap and smallcap indices gained 1.43 percent and 0.53 percent respectively. Market breadth was positive as the A/D ratio was 1.14:1 on the BSE. NSE cash turnover was Rs 16,160 crore Vs Rs 11,833 crore in the previous session.
Barring the BSE Healthcare index, all the sectoral indices ended higher. The top gainers were the BSE consumer durables, bankex, metal and oil & gas indices. The top gainers from the BSE 30 were State Bank of India (SBI), Tata Steel , GAIL India and Tata Power . The top losers were Dr Reddys Laboratories , Sun Pharmaceutical Industries , Cipla and Mahindra and Mahindra .
As per the provisional figures on Thursday, FIIs were net buyers of Rs. 1876 cr in the cash market, while they were net sellers of Rs. 1148 crore in the F&O markets. DIIs were net sellers of Rs. 834 crore in the cash market.
Indian market could open in the red and could make an attempt to inch higher towards the lattere half of the session. BSE Sensex could cross the all time high of 21207 today. NSE STOCK TIPS
Strong support for Nifty is 6236, while immediate resistance is at 6350. Among the sectoral indices, banks and auto could outperform, while FMCG and IT look weak.
Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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Oct 31, 2013, 09.39 AM IST
According to HDFC Securities, strong support for Nifty is 6150, while immediate resistance for the index is at 6270.
Carrying on from the previous session,
the main indices continued to surge higher on Wednesday. While the BSE Sensex closed 104.96 points or 0.5 percent higher at 21,033.97, the Nifty gained 30.8 points or 0.5 percent to close at 6,251.7. Broad market indices too ended higher as the BSE midcap and smallcap indices gained 0.25 percent and 0.64 percent respectively.
Market breadth was positive as the A/D ratio was 1.09:1 on the BSE. NSE cash turnover was Rs 11,833 crore Vs Rs 12,427crore in the previous session. Barring the BSE auto and PSU index, all the sectoral indices ended higher. The top gainers were the BSE healthcare, FMCG, power and realty indices. The top gainers from the BSE 30 were Bharti Airtel , Dr Reddys Laboratories , Hindalco Industries and ICICI Bank . The top losers were Wipro , Sesa Sterlite , HDFC Bank and State Bank of India .BSE. NSE TIPS
As per the provisional figures on Tuesday, FIIs were net buyers of Rs 1017 crore in the cash market, while they were net buyers of Rs 615 crore in the F&O markets. However, DIIs were net sellers of Rs 551 crore in the cash market.
Indian market could open marginally in the red and consolidate in a narrow range throughout the session. Strong support for Nifty is 6150, while immediate resistance is at 6270. Among the sectoral indices, banks and realty could witness some profit taking. However, FMCG and power could do well.
Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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Oct 30,
2013, 10.08 AM IST
Rupee inches lower; caution prevails ahead Fed
meeting
The rupee trading at 61.41/42 versus its close of 61.31/32, with sentiment cautious ahead of the Federal Reserve's meeting this week.
The rupee trading at 61.41/42 versus its close of 61.31/32, with sentiment cautious ahead of the Federal Reserve's meeting this week.
The rupee trading at 61.41/42 versus its close
of 61.31/32, with sentiment cautious ahead of the Federal Reserve's meeting this week.
All Asian currencies trading mixed versus the dollar.
The BSE Sensex trading up 0.2 percent.
The dollar touched a one-week high against a basket of major currencies on Wednesday as investors further trimmed bearish positions ahead of the outcome of the Federal Reserve policy meeting.STOCK TIPS
Dealers will watch the Reserve Bank of India Governor Raghuram Rajan's teleconference with analysts at 1430 IST keenly for cues, which comes a day after the central bank raised rates for the second time in as many months.
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Oct 29, 2013, 09.36 AM IST
Support
for Nifty at 6050: HDFC Securities
According to HDFC Securities, support for Nifty at 6050 while resistance for the index lies at 6175.
According to HDFC Securities, support for Nifty at 6050 while resistance for the index lies at 6175.
After a volatile session, the markets ended in
red on Monday ahead of RBI monetary policy. While the BSE Sensex closed 113.24 points or 0.55 percent lower at 20,570.28, the Nifty lost 43.8 points or 0.71 percent to close at 6,101.1. Broad market indices too ended lower as the BSE midcap and smallcap indices lost 0.76 percent and 0.49 percent respectively. Market breadth was negative as the A/D ratio was 0.71:1 on the BSE. NSE cash turnover was Rs 8,917 crore Vs Rs 9,820 crore in the previous session.
The sectoral indices ended with a mixed bag. While the top gainers were the BSE consumer durables, capital goods and oil & gas indices, the top losers were the BSE FMCG, realty, metal and bankex indices. The top gainers from the BSE 30 were Larsen and Toubro , HDFC , ONGC and Reliance Industries . The top losers were ITC , Sesa Sterlite , Tata Steel and State Bank of India .
As per the provisional figures on Monday, FIIs were net buyers of Rs 637 crore in the cash market, while they were net sellers of Rs 1057 crore in the F&O markets. DIIs were net sellers of Rs 903 crore in the cash market.STOCK NIFTY TIPS
Indian market could open marginally in the green and take cues from the second quarter review of RBI monetary policy today. Any negative surprise could lead to a sharp correction in the markets, while a favourable outcome could result in gains. On the upside, market is likely to witness resistance at 6175 on Nifty, while strong support lies at 6050. Among the sectoral indices, interest rate sensitive sectors like banks, capital goods, realty and auto are likely to be volatile.
Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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Oct 25, 2013, 09.15 AM IST
Markets to open on negative note: Ventura
Securities
According to Ventura Securities, market to open on a negative note on the back of mixed global cues.
According to Ventura Securities, market to open on a negative note on the back of mixed global cues.
Nifty was down by 14 points and closed at 6,164. Today, we expect the markets to open on a negative note on the back of mixed global cues.
US markets ended on a positive note with Dow Jones and Nasdaq up by 0.6 percent and 0.5 percent respectively, as corporate earnings beat estimates and signs of slower economic growth fueled bets that the Federal Reserve will maintain stimulus. Today, US markets will witness data releases on core durable goods orders.
Asian stock markets are trading negative with Nikkei and Hang Seng down by 1.1 percent and 0.4 percent respectively. SGX Nifty is trading down by 46 point at 6,146. Indian ADRs ended on a mixed note.
Among financial ADRs, ICICI Bank and HDFC Bank were up by 0.6 percent and 2.2 percent respectively. Among IT ADRs, Wipro was down by 2.0 percent while Infosys was up by 0.1 percent. Tata Motors was up by 0.6 percent.STOCK TIPS
Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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