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STOCK MARKET LIVE NEWS
Sensex flat with negative bias at open Goldennifty said: Indian markets dropped on Thursday erasing earlier gains. At Sensex was trading down 43.31 points or 0.24% at 18,159.10 with 21 components falling. Meanwhile, the Nifty was trading lower by 17.95 points or 0.32% at 5,514.00 with 38 components falling. The 30-share benchmark index, BSE Sensex opened with a decline of 39.36 points or 0.22% at 18,163.05, while the broad based NSE Nifty started with a fall of 18.20 points or 0.33%, at 5,513.75. Reliance Industries contributed fall of 26.11 points in the Sensex. It was followed by I C I C I Bank (9.71 points), Sun Pharmaceutical Industries (8.43 points), Tata Motors (7.66 points) and State Bank Of India (6.55 points). However, Infosys contributed rise of 5.3 points in the Sensex. It was followed by Bharti Airtel (5.09 points), Bharat Heavy Electricals (4.83 points), I T C (3.71 points) and NTPC (3.62 points). Major gainers in the 30-share index were Jindal Steel & Power (2.33%), Bharat Heavy Electricals (1.75%), NTPC (0.99%), Bharti Airtel (0.89%), G A I L (India) (0.38%), and Infosys Technologies (0.32%). On the other hand, Sun Pharmaceutical Industries (3.03%), Coal India (2.78%), Sterlite Industries (India) (1.97%), Hindalco Industries (1.69%), Maruti Suzuki India (1.68%), and Reliance Industries (1.39%) were the biggest losers in the Sensex.
TIME : 10.45 MCX Aluminium dropped to a 5-week low at Rs 107.7 per kg, down 0.7% or Rs 0.8 and tested a high of Rs 109.2 per kg and low at Rs 107.45 per kg on Wednesday, 15th February. The open interest added 7% to 3126 lots indicating short selling and volume traded stood at 7103 lots compared to 9193 lots traded last day. At MCX Aluminium was the only metal managed to stay higher by 0.5% at $2216.5 per tonne on Wednesday. The sanguine comments by the China governor that it stretched their hands to support the euro zone economies buoyed the sentiment. Aluminium at MCX is likely to find support at Rs 107.3 per kg to Rs 106.4 per kg and resistance at Rs 108.7 per kg and Rs 109.5 per kg on Thursday, 16th February.
MCX Crude oil futures slipped in the Asia trading today as traders booked profit after the counter surged to near $102 a barrel levels. Also the losses in Asian equities and strength in the US dollar pressurized the crude oil futures. Asian shares traded mostly lower Thursday, as investors fretted about the possibility of a messy Greek default, although Japanese shares got some support from a relatively weak yen. The Australian S&P/ASX 200 index dropped 1.5%, the South Korean Kospi fell 1%, and Hong Kongs Hang Seng Index declined 0.5%. MCX benchmark crude futures may start todays session below Rs 5020 levels with support around Rs 4990 levels.
Sensex trades lower; Coal India, Sun Pharma major losers
Indian equities dropped on Thursday erasing earlier gains. Sensex was trading down 44.22 points or 0.24% at 18,158.19 with 19 components falling. Meanwhile, the Nifty was trading lower by 14.80 points or 0.27% at 5,517.15 with 31 components falling. The 30-share benchmark index, BSE Sensex opened with a decline of 39.36 points or 0.22% at 18,163.05, while the broad based NSE Nifty started with a fall of 18.20 points or 0.33%, at 5,513.75. Reliance Industries contributed fall of 35.08 points in the Sensex. It was followed by I C I C I Bank (16.25 points), Tata Motors (10.86 points), Sun Pharmaceutical Industries (7.4 points) and Hindalco Industries (6.5 points). However, Infosys contributed rise of 12.76 points in the Sensex. It was followed by Bharat Heavy Electricals (10.02 points), Bharti Airtel (8.45 points), Tata Power Company (8.12 points) and Larsen & Toubro (7.86 points). Major gainers in the 30-share index were Bharat Heavy Electricals (3.63%), Tata Power Company (3.58%), Jindal Steel & Power (2.34%), Cipla (1.77%), Hero Honda Motors (1.70%), and NTPC (1.59%). On the other hand, Coal India (3.36%), Sun Pharmaceutical Industries (2.67%), Hindalco Industries (2.56%), Tata Motors (1.96%), Reliance Industries (1.87%), and I C I C I Bank (1.23%) were the biggest losers in the Sensex.
Sensex trades lower; Coal India, Sun Pharma major losers
Indian equities dropped on Thursday erasing earlier gains. Sensex was trading down 44.22 points or 0.24% at 18,158.19 with 19 components falling. Meanwhile, the Nifty was trading lower by 14.80 points or 0.27% at 5,517.15 with 31 components falling. The 30-share benchmark index, BSE Sensex opened with a decline of 39.36 points or 0.22% at 18,163.05, while the broad based NSE Nifty started with a fall of 18.20 points or 0.33%, at 5,513.75. Reliance Industries contributed fall of 35.08 points in the Sensex. It was followed by I C I C I Bank (16.25 points), Tata Motors (10.86 points), Sun Pharmaceutical Industries (7.4 points) and Hindalco Industries (6.5 points). However, Infosys contributed rise of 12.76 points in the Sensex. It was followed by Bharat Heavy Electricals (10.02 points), Bharti Airtel (8.45 points), Tata Power Company (8.12 points) and Larsen & Toubro (7.86 points). Major gainers in the 30-share index were Bharat Heavy Electricals (3.63%), Tata Power Company (3.58%), Jindal Steel & Power (2.34%), Cipla (1.77%), Hero Honda Motors (1.70%), and NTPC (1.59%). On the other hand, Coal India (3.36%), Sun Pharmaceutical Industries (2.67%), Hindalco Industries (2.56%), Tata Motors (1.96%), Reliance Industries (1.87%), and I C I C I Bank (1.23%) were the biggest losers in the Sensex.
Sensex extends losses; Coal India, Sterlite, Hindalco fall
Goldennifty said: Indian equities extended losses due to weak Asian markets. Sustained profit booking was seen in index heavyweights and sectors - oil & gas, metals and consumer durables. Sensex was trading down 130.84 points or 0.72% at 18,071.57 with 16 components falling. Meanwhile, the NSE Nifty was trading tips lower by 39.45 points or 0.71% at 5,492.50 with 31 components falling. The 30-share benchmark index, BSE Sensex opened with a decline of 39.36 points or 0.22% at 18,163.05, while the broad based NSE Nifty started with a fall of 18.20 points or 0.33%, at 5,513.75. Reliance Industries contributed fall of 56.21 points in the Sensex. It was followed by I C I C I Bank (24.97 points), Tata Motors (20.95 points), H D F C Bank (12.92 points) and Hindalco Industries (10.68 points). However, I T C contributed rise of 7.05 points in the Sensex. It was followed by Bharat Heavy Electricals (6.94 points), Tata Power Company (5.52 points), Oil & Natural Gas Corporation (5.31 points) and NTPC (5.01 points). Biggest gainers in the 30-share index were Jindal Steel & Power (3.07%), Bharat Heavy Electricals (2.53%), Tata Power Company (2.44%), Cipla (2.09%), NTPC (1.37%), and Hero Honda Motors (1.29%). On the other hand, Coal India (4.43%), Sterlite Industries (India) (4.23%), Hindalco Industries (4.22%), Tata Motors (3.79%), Reliance Industries (3.01%), and Mahindra & Mahindra (2.54%) were the major losers in the Sensex.
Goldennifty said: “Yesterday, NSE Nifty opened with an upside gap and finally gave some trended moves. The breath was robust at almost 2.5:1 in favour of advances with good volumes. As mentioned above, the bulls finally managed to break the shackles of 5,435 and lifted Nifty higher towards the next target/resistance of 5,660. As we all know, the market in the last seven trading sessions was devoid of any significant opportunities but with yesterday`s move it seems that the volatility and trended action is once again back and that should augur well for one and all”. The intraday supports in Nifty are seen at 5,485 and then at 5,420, the resistances for the day are seen at 5,550 and then at 5,600.
MCX Nickel markets recorded a deficit of 10900 tons in Jan-Dec 2011. The markets of Nickel were in a marginal surplus of 100 tons in full year 2010. The stocks in warehouses of LME were 46400 tons lower in December ending 2011, compared to December ending 2010. The total mined Nickel production was 1.81 million tons in Jan-Dec 2011 that was up by 297300 tons from Jan-Dec 2010. The total refined Nickel production in Jan-Dec 2011 was 1.78 million tons. In December 2011, Nickel smelter production was 159800 tons. Refined Nickel consumption in Jan-Dec 2011 stood at 1.79 million tons. The apparent consumption was 288000 tons in Jan-Dec 2011 than previous year. In December 2011, Nickel smelter consumption was 164400 tons. In futures markets, Nickel three month forwards is seen trading at $ 19927 per ton, compared to $ 20325 per ton on Wednesday. MCX Nickel is trading at Rs 989 per kg, down from Rs 996 per kg on Wednesday.
Golden Investment Research Private Limited MCX Copper may note some decline tracking international exchanges. LME copper is trading lower in early trades today after a weaker session yesterday. Further weighing on prices is mixed macro-economic data from US and lack of physical demand from China amid record high stocks at SHFE warehouses. Copper stocks at LME warehouses fell by 750 tons yesterday after hitting lowest level since September 2009 last week while cancelled warrants rose to 28.25%, signaling strong physical demand. Prices will further track economic releases and its impact on global currency and equity markets. Support for February copper is seen at Rs.404 while resistance is seen at Rs.416.
TIME : 13.12 MCX Aluminum may note some decline tracking copper prices, however the downside remains capped. Prices may also come under pressure amid record high stocks at LME however talks of production cuts may cap the downside. Stocks at LME hit new high of 5121300 tons yesterday while cancel warrants rose to 30.14% Also stocks at SHFE rose by 23,316 tons or 8.2% last week. Support for Aluminum February contract is seen at Rs.105.5 while resistance of Rs.108.5.
MCX Zinc may not some decline tracking copper prices. Also higher stocks at LME warehouses coupled with lack of demand in physical markets may weigh on the prices. Stocks at LME fell by 1,125 tons yesterday while those at SHFE rose by 1,463 tons. Support for MCX Zinc February contract is seen at Rs.97 while resistance is seen at Rs.101.
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Bank nifty support and resistance level for 23/02/2012. |
Nifty support and resistance level for 23/02/2012.
