7800 CONTINUES TO BE UPSIDE TARGET; 7600 CONTINUES
TO BE IMMEDIATE SUPPORT
WORLD MARKETS
Dow and S & P 500 ended lower by
0.2% and 0.1% respectively while Nasdaq gained 0.3% yesterday amid news of
explosions in Belgium's capital. Dow broke seven day winning streak.
A series of deadly explosions rocked
Brussels, targeting the Belgian capital's main airport and metro system which
killed at least 31 people and injured nearly 200.
Markit's flash U.S. manufacturing PMI
came in at 51.4. Home prices rose 0.5% in January on a seasonally adjusted
basis from the previous month. The Richmond Fed manufacturing index rose in
March to 22, the highest since April 2010.
Nymex crude fell 7 cents to $41.45
while Brent rose 25 cents to $41.79 a barrel. Gold rose $4.40 to $1249 an
ounce.
European markets came off session
lows to end with gains of upto 0.4% with DAX leading the gains. The
pan-European STOXX 600 provisionally closed lower by 0.21%.
AT HOME
After Monday's big upmove, yesterday
was a day of consolidation as benchmark indices, after a heavy intraday volatility,
ended modestly higher, nevertheless, extending the rising streak to fifth
straight day. Sensex settled at 25330, up 45 points while Nifty added 11 points
to finish at 7715. BSE mid-cap and small-cap indices gained 0.5% and 0.3%
respectively. Except a 1.2% and 0.01% cut in FMCG index and Bankex, all the BSE
sectoral indices ended in green with Realty and Consumer Durable indices
leading the tally, up 2.7% and 1.6% respectively.
FIIs net bought stocks and index
futures worth Rs 1095 cr and 200 cr respectively but net sold stock futures
worth Rs 1127 cr. DIIs were net sellers to the tune of Rs 930 cr.
Rupee depreciated 18 paise to end at
66.71/$.
OUTLOOK
Today morning, Asian markets are
trading with modest cuts and SGX Nifty is suggesting a flattish start for our
market.
Nifty yesterday ended modestly higher
after a choppy session. 7790, where 34-week moving average is placed, continues
to be upside hurdle as well as the target to eye.
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