28.01.2014

Daily Nifty View Spot Closed 6135.85, Sustaining Above 6166-6169 We May C 6189 / 6226 On Upside And Below 6102-6090 Sustaining Nifty We May C 6072-6040, Most Probably Nifty Spot Range 6090-6175.

MAGIC NUMBER NIFTY FO 6174 !

News of the day:

Key benchmark indices slumped on the first trading session of the week as emerging-market stocks fell and currencies weakened amid concern that slower Chinese growth and reduced Federal Reserve stimulus will spark more capital outflows. In recent years, emerging markets have been supported by the Fed's policy of easy money, but any cut could pull more money out of these risky markets and hurt growth. The rupee's weakness against the dollar also hit investor sentiment adversely. The barometer index, the S&P BSE Sensex, fell below the psychological 21,000 mark. The Sensex hit its lowest level in almost 3 weeks. The 50-unit CNX Nifty hit 8-1/2-week low. The Sensex plunged 426.11 points or 2.02%, up close to 20 points from the day's low and off about 190 points from the day's high. 

Key benchmark indices trimmed losses in late trade after seeing an intraday sell-off. The barometer index, the S&P BSE Sensex, and the 50-unit CNX Nifty, both, hit their lowest level in more than two weeks. The market breadth indicating the overall health of the market was quite weak with more than three losers for every gainer on BSE. The BSE Mid-Cap and Small-Cap indices were off more than 2.5% each. Weakness in Asian and European stocks and a steep slide in US stocks on Friday, 24 January 2014, hit sentiment on the domestic bourses adversely. NSE’s INDIA VIX, was up 17.94% level, at 18.67. Amongest the Indices CNX SMALLCAP  was down 3.52% closed at 3,171.40.

Stock Specific news:

• Tata Motors MD Karl Slym dies in Bangkok hotel.
• Ajanta Pharma Q3 net up 92% at Rs 62 cr.
• ONGC inks MoU with Mitsui for co-operation in pursuing gas opportunities.
• Ashok Leyland makes $14 mn equity infusion in German subsidiary.
• Copper up 0.2% as demand picks up.
• Nickel down 0.6% on global cues.
• Gold up 0.7% on global cues.
• SKS Microfinance gains on robust Q3 earnings growth.
• Tata Motors board to decide on new MD in few days.
• Adani Ports Q3 net profit up 15% to Rs 477 cr.

NSE STATS :

BSE STATS :

The market breadth indicating the overall health of the market was quite weak with more than three losers for every gainer on BSE. On BSE, 1,976 shares declined and 616 shares gained. A total of 122 shares were unchanged.