- The Indian stock market indices continued their positive streak, with the Sensex closing above 21500 and the Nifty above 6400, as investors cheered lower-than-expected current account deficit numbers.
- The CAD for the December quarter dropped to a 4-year low, helping strengthen the rupee against the dollar.
- Key sectors like realty and power gained strongly, while financial and metal stocks contributed significantly to the Sensex's gains.
Following a cautious start, Indian indices gained momentum and stretched the rally for 4th straight day. Bulls retained their hold on D-Street with Sensex hitting an intra-day high above crucial 21K level. Benchmarks jumped over 0.6% to settle near day’s high on F&O expiry day. On BSE sectorial front, FMCG was the top gainer.
Despite firm global cues, Indian indices started on a cautious note and flirted with previous close till noon session. Benchmarks plunged subsequently dragged by IT index and ended in red with Sensex losing over a ton and Nifty below 6050.
Following a cautious start, Indian indices gained momentum and stretched the rally for 4th straight day. Bulls retained their hold on D-Street with Sensex hitting an intra-day high above crucial 21K level. Benchmarks jumped over 0.6% to settle near day’s high on F&O expiry day. On BSE sectorial front, FMCG was the top gainer.
Despite firm global cues, Indian indices started on a cautious note and flirted with previous close till noon session. Benchmarks plunged subsequently dragged by IT index and ended in red with Sensex losing over a ton and Nifty below 6050.
Straddling optimistic global cues, Indian indices made a positive start and continued to trade firm. Cautious benchmarks trimmed some gains but continued to trade in fine fettle ahead of crucial macro data announcements scheduled later this week. Marking the first green close of 2014, benchmarks settled marginally up with Nifty above 6170. On BSE sectorial front, Health Care was the top gainer.
Following a choppy trading through most of the day, Sensex closed marginally in green amidst Narendra Modi’s election as the leader of BJP Parliamentary Party by none other than party veteran, Lal Krishna Advani. Nifty ended 12 points up, thereby making yet another record closing high, just above 7275. This is fourth straight ‘green’ closing witnessed by key benchmarks.
On the July F&O expiry day, Indian markets made a weak start backed by negative global cues. Benchmarks crawled around the previous close for most of the day. However, in noon trades, markets slipped into negative terrain and settled at the intra-day low levels. Sensex lost 192 points to end below 26K milestone and Nifty slumped 0.9% to close at 7721. On BSE sectorial front, Power topped the laggards.
Following a cautious start, Indian indices dipped in red zone on pessimistic global cues. Benchmarks witnessed highly volatile moves and finally closed in red. Both Sensex and Nifty lost about half a percent. Among BSE sectorials, Realty was the star performer and gained over 5% in otherwise bearish market. IT topped the laggards.
Straddling optimistic global cues, Indian indices made a positive start and continued to trade firm. Cautious benchmarks trimmed some gains but continued to trade in fine fettle ahead of crucial macro data announcements scheduled later this week. Marking the first green close of 2014, benchmarks settled marginally up with Nifty above 6170. On BSE sectorial front, Health Care was the top gainer.
Following a choppy trading through most of the day, Sensex closed marginally in green amidst Narendra Modi’s election as the leader of BJP Parliamentary Party by none other than party veteran, Lal Krishna Advani. Nifty ended 12 points up, thereby making yet another record closing high, just above 7275. This is fourth straight ‘green’ closing witnessed by key benchmarks.
On the July F&O expiry day, Indian markets made a weak start backed by negative global cues. Benchmarks crawled around the previous close for most of the day. However, in noon trades, markets slipped into negative terrain and settled at the intra-day low levels. Sensex lost 192 points to end below 26K milestone and Nifty slumped 0.9% to close at 7721. On BSE sectorial front, Power topped the laggards.
Following a cautious start, Indian indices dipped in red zone on pessimistic global cues. Benchmarks witnessed highly volatile moves and finally closed in red. Both Sensex and Nifty lost about half a percent. Among BSE sectorials, Realty was the star performer and gained over 5% in otherwise bearish market. IT topped the laggards.
Benchmarks settle flat after volatile trades
Taking support from the optimistic trades in global markets, Indian indices started the day by spurting at open. However, the benchmarks took a U-turn to slip in negative terrain in absence of any domestic catalyst. After hovering around previous close for an extended period, markets settled just above the sea level with Nifty taking the lead.
On BSE sectorial front, IT index topped the gainers whereas Metal index was the top loser.
After a gap up start tracking positive global cues, markets did not look back. The much awaited launch of third quantitative easing (QE3) measures by the Federal Reserve yesterday helped the sentiments to remain buoyant. Additionally the hike in diesel price also supported local markets to an extent. On the other end, higher than anticipated August inflation data shocked the market players as it severely restricts RBI from slashing interest rates.
Following a soft start, Indian indices took clues from global peers to edge higher and remained in upward journey amidst volatile trades. Recovery in Rupee against US Dollar gave further impetus to markets persuading Sensex to score a double ton. Nifty gained over 1% to close above 5470. Among BSE sectorials, Capital Goods was the top gainer with BHEL soaring over 8%.
Tracing the firm global cues, bulls kick started the day northwards on D-Street. Sentiment remained upbeat as World Bank stated that Indian economy has come back on growth track and is likely to grow by 5.6% in FY15. Benchmarks climbed 0.45% to end day near intraday highs ahead of a crucial 2-day Fed meet about the wrapping up of the bond buying program and interest rate direction.
1. Q3 CAD powers Sensex beyond 21500; Nifty reclaims 6400
Market Snapshot | 06-03-2014 04:22 PM
Following a marginally higher start, Indian indices continued the positive trades for third straight day amidst optimistic
global cues. Markets remained in bull grip throughout the day as investors cheered India’s current account deficit
(CAD) data for December quarter. Exuberant Sensex hit a life time high of 21525.14 before closing above 21500. Nifty
too shot up 1.15% to close above 6400. On BSE sectorial front, Realty continued to rock the show by soaring over 4%.
Among global peers, US markets traded on a mixed note amidst disappointing economic reports. However, Asian and
European markets traded jubilantly with Nikkei climbing 1.5% on a Pension Fund report.
Back home, on currency front, Rupee rose to near three months high against Dollar on narrowed CAD in December
quarter. In futures trades, INR hit an intra-day high of 61.35/USD and an intra-day low of 61.75/USD. In spot trades,
INR hit an intra-day high of 61.17/USD and an intra-day low of 61.43/USD. As per RBI reference rate, INR stood at
61.32/USD. (Read More)
On macro-economic front, in a big surprise for policy makers amidst election season, Indian current account deficit for
December quarter dropped to 4 years low level. CAD narrowed to $4.2 billion (0.9% of GDP) in Q3FY14 as compared
to $5.2 billion (1.2% of GDP) in Q2 FY14. The sharp fall was mainly driven by decline in imports (mainly gold) and
spike in merchandise exports. Exports grew by 7.5% to $79.8 billion in the quarter on y-o-y basis whereas
merchandise imports contracted by 14.8% to $112.9 billion year on year. (Read More)
On stock-specific front, Financial Technologies jumped 5% on BSE after global financial services firm, Merill Lynch
bought 2.35 lakh shares of the company through an open market transaction. (Read More)
Cera Sanitaryware surged 6% and touched fresh 52 week high at Rs 855 on BSE after its shareholders hiked their
stake in the company via creeping acquisition route.
IL&FS Transportation Network Ltd shined 6.3% on BSE after its board nodded to issue debentures worth of Rs 100
crore via private placements. (Read More)
The market breadth on the BSE closed in positive. Advancing and declining stocks were 1775 and 1066 respectively,
while 164 scrips remained unmoved.
The S&P BSE Sensex ended at 21513.87, up 237.01 points or 1.11%. The 30 share index touched a high and a low
of 21525.14 and 21329.88 respectively. 24 stocks advanced against 6 declining ones on the benchmark index.
The CNX Nifty gained 72.50 points or 1.15% to settle at 6401.15. The index touched high and low of 6406.60 and
6339.70 respectively. 42 stocks advanced against 8 declining ones on the index.
S&P BSE Sensex
CNX Nifty
The S&P BSE Mid-cap index moved up to 6708.00 and gained 1.21% while S&P BSE Small-cap index jumped up by
1.22% to 6626.46.
The broader S&P BSE 500 index increased to 7886.02 (up 1.24%) and CNX 500 index rose to 4959.10 (up 1.19%).
The volatility as denoted by INDIA VIX gained 4.62% at 14.48 from its previous close of 13.84 on Wednesday.
Sectors in action
On the BSE Sectorial front, Real Estate (up 4.09%), Power (up 2.45%) and Metals (up 2.23%) were the top gainers.
Healthcare (down 0.27%) was the top loser.
The Angels and the Devils
Hindalco Industries Ltd (up 4.33%), Bharat Heavy Electricals Ltd (up 3.78%), ICICI Bank (up 3.33%), Oil and Natural
Gas Corporation Ltd (up 2.91%) and Tata Steel Ltd (up 2.38%) were the top gainers on the Sensex.
Cipla Ltd (down 1.38%), Wipro Ltd (down 0.86%), Tata Motors Ltd (down 0.45%), Tata Consultancy Services Ltd
(down 0.40%) and Hindustan Unilever Ltd (down 0.29%) were the top losers on the Sensex.
2. Benchmark Drivers
ICICI Bank (48.88 points), Reliance Industries Ltd (31.13 points), Larsen And Toubro Ltd (18.08 points), Housing
Development Finance Corporation Ltd (17.78 points) and Oil and Natural Gas Corporation Ltd (17.37 points) were the
major Sensex drivers today.
On the other end ICICI Bank (11.57 points), Reliance Industries Ltd (7.96 points), Larsen And Toubro Ltd (4.63 points),
Housing Development Finance Corporation Ltd (4.60 points) and Oil and Natural Gas Corporation Ltd (4.14 points)
were the major Nifty movers today.
Pivot, Supports and Resistance Levels
CNX Nifty is now pivoted at 6382 for next session. The next support is at 6358 and on upside it has a resistance at
6425 levels.
CNX Nifty
Eff. Date
07-Mar-2014
06-Mar-2014
05-Mar-2014
S3
6291
6250
6155
S2
6316
6269
6185
S1
6358
6299
6242
PIVOT
6382
6318
6272
R1
6425
6347
6328
R2
6449
6366
6358
R3
6492
6396
6415
Actual Close
6401.15
6328.65
S&P BSE Sensex has a pivot at 21456 with first level of support and resistance at 21387 and 21583 respectively.
S&P BSE Sensex
Eff. Date
07-Mar-2014
06-Mar-2014
05-Mar-2014
S3
21192
21034
20741
Follow us on
S2
21261
21105
20841
S1
21387
21191
21025
PIVOT
21456
21262
21125
R1
21583
21348
21309
R2
21652
21419
21409
R3
21778
21505
21594
Actual Close
21513.87
21276.86
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