17.01.2014

Daily Nifty View Spot Closed 6318.90, Sustaining Above 6354-6360 We May C 6382 / 6406 On Upside And Below 6270-6260 Sustaining Nifty We May C 6240 / 6216, Most Probably Nifty Spot Range 6265-6368

MAGIC NUMBER NIFTY FO 6329.10 !

News of the day:

A bout of volatility was witnessed in early trade as key benchmark indices pared gains after a firm start triggered by higher Asian stocks. The Sensex hit its highest level in more than five weeks at the onset of the trading session. The 50-unit CNX Nifty hit 2-week high at the onset of the trading session. Key benchmark indices reversed initial gains and hit fresh intraday low in morning trade. Key benchmark indices trimmed losses after hitting fresh intraday low in mid-morning trade. The Sensex languished in negative zone in early afternoon trade. A bout of volatility was witnessed as key benchmark trimmed losses after hitting fresh intraday low in afternoon trade. Volatility continued as key benchmark traded off intraday lows in mid-afternoon trade. NSE’s INDIA VIX, was up 0.77% level, at 15.54. Amongest the Indices CNX SMALLCAP was down 0.54 % closed at 3,371.50.

Stock Specific news:

• Axis Bank Q3 net up 19% at Rs 1,604 cr.
• ONGC’s 2nd thermal unit at Palatana to be operational by June.
• Infotech net up 12% at Rs 69.39 cr.
• Non-IMS business growth picks up for HCL Technologies.
• Bajaj Q3 net grows 10% to Rs 904 cr.
• HCL Tech Q2 net up 5.7% q-o-q at Rs 1,496 cr.
• Coal India extends gain ahead of interim dividend.
• Gold up 0.1% amid positive Asian cues.
• Aluminium adds 0.32% on spot demand, global cues.
• Zinc up 0.12% on overseas cues, spot demand.

NSE STATS :

BSE STATS :

The total turnover on BSE amounted to Rs 1991 crore, higher than Rs 1877.54 crore on Wednesday, 15 January 2014. The market breadth, indicating the overall health of the market, was negative. On BSE, 1,512 shares dropped and 1,167 shares rose. A total of 166 shares were unchanged. Among the 30-share Sensex pack, 15 stocks rose and rest fell.