HDFC Sec- Market Update 5 Nov 14

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Indian Markets

The 30-share Sensex ended down 5 points 27,860 and the 50-share Nifty ended up 2 points at 8,324. The broader markets continued to hold investor interest.

The mid and smallcap indices were up well over 1% each, outperforming the BSE benchmark index which was down 0.1%. NSE cash turnover was at Rs. 17325.

On the sectoral front, Auto, Consumer Durables indices were down upto 1.6% along with Metal and Oil adn Gas indices down 0.2% each. Among the ones in green, Realty index was the top gainer, up 3.7% followed by Health Care and Banking index up 0.4% each.

As per provisional figures on Monday, FIIs were net buyers of Rs 1413 cr in the cash market and net buyers of Rs 134 cr in F&O markets. DIIs were net sellers of Rs 1183 cr in the cash market. 

US & European Markets

The continued slide in oil prices sent energy stocks lower Tuesday, as the broader stock-market indexes made modest moves amid mixed earnings. The Dow Jones Industrial Average advanced to close within striking distance of a new all-time high. It gained 17.60 points, or 0.1%, to 17383.84, just shy of its record of 17390.52 reached on Oct. 31. The S&P 500 lost 5.71 points, or 0.3%, to 2012.10 and the Nasdaq Composite Index declined 15.27 points, or 0.3%, to 4623.64.

European stocks ended lower. FTSE 100 in London & DAX 30 in Germany fell by 0.5% & 0.9% respectively, while CAC 40 in France fell by 1.9%.

Most of the ADRs ended positive. Banking stocks, HDFC Bank was up 0.3% while ICICI Bank was up 1.7%.  Infosys was almost flat while Wipro was down 0.3%. Tata Motors was up 0.7% while Dr Reddy?s was up 0.1%.

Latin American Markets

Among the Latin American markets, Shares in Mexico was down 0.7% while Brazil Bovespa was up 0.8%.

Asian Markets

Asian markets are lower today as Chinese and Hong Kong shares fall. The Shanghai Composite is off 0.46% while the Hang Seng is down 0.54%. The Nikkei 225 is not trading.

As of IST 8.40 am SGX Nifty is trading higher by 30 points over Mondays close 

Currencies

The Indian rupee on Monday depreciated by four paise to close at 61.4 against the greenback on moderate dollar demand from importers, amid some hesitancy in equities.

The euro firmed against the dollar on Tuesday after softer-than-expected U.S. factory orders gave investors excuse to sell the greenback for profits. In U.S. trading, EUR/USD was up 0.65% at 1.2566, up from a session low of 1.2481 and off a high of 1.2571.

Commodities

Oil for Dec 2014 contract declined by 2% at $77.2/barrel.

Gold for Dec 2014 delivery fell by 0.2% at $1167.7/troy ounce.

Key Events for Today

China - HSBC Services PMI
Japan - Monetary base 
Germany, EU - Services PMI
EU - Retail Sales
US - MBA Mortgage Index, ISM non-manufacturing PMI, business activity, Crude Oil inventories

Key Events for Tomorrow

US - Chain Store Sales, Challenger Job cuts, Continuing & Initial Jobless Claims, Non farm productivity
Japan - Leading Index
UK - Industrial & Manufacturing production, Interest Rate decision
EU - Interest Rate decision

Outlook

Indian markets could open flat and be range-bound with a positive bias. Banks, Auto, FMCG, IT could relatively outperform. Immediate support for Nifty is at 8265 level, while immediate resistance is at 8350 level.