08 January 2015

Markets remained volatile .. Oil slips below $ 50 ::HDFC Securities

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Statistics

The 30-share Sensex ended 79 points lower at 26,909 and the 50-share Nifty closed 25 points lower at 8,102.  The broader markets - BSE Midcap and Smallcap indices ended flat in today?s trade.
The market breadth ended weak on the BSE with 1,505 shares declining and 1,339 shares advancing. NSE cash turnover was at Rs. 16353.

Sectors & Stocks

On the sectoral front, BSE Oil & Gas index is the top gainer up over 1%. However, Metal, Bankex and IT indices continue to lose sheen and are down between 0.2-1%.Coal India shares down around 0.5%. TCS, Infosys and Wipro have lost 0.5% each. Cipla, Dr Reddy?s Lab are trading down by 0.2% and 0.8% each.

The Nikkei benchmark added 0.01 percent to 16,885.33 and Hong Kong shares finished higher on Wednesday with Hang Seng up 0.8% to 23,681.26 points.

Way forward

Nifty closed down by 0.31% in a volatile session.  Nifty in todays session filled the up gap which was made on 18th December but closed above it. This suggest Nifty may give small bounce from this level, if Nifty does not trades below 8065 level in tomorrows session. If  in coming session Nifty sustains  above 8065 level then traders could expect  Nifty to trade up to 8175 level followed by 8220. If Nifty  trades & sustains below 8065 level for 15 mins  then traders could expect down move up to 8000 followed by 7985 level.

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