But seek first his kingdom and his righteousness, and all these things will be given to you as well. Matthew 6:33

9 Mar 2016


9:48 a.m.: CLSA says that technically Nifty has created short-term bullish pattern and breakout supports on the upside are till 7,695. It adds that Nifty at best can rally up to its 200-day moving average.

9:41 a.m.: International brokerage- Credit Suisse says that it is turning bullish on Brazil and bearish on India. It says that Indian valuations are now attracting unjustifiable premiums and India's earnings revisions are most negative across the emerging markets. It adds that reversal of 5-years of commodity price weakness will benefit Brazil.
9:34 a.m.: Broader markets were also facing the heat of selling pressure. The BSE mid-cap index was down 0.33 per cent and the small-cap index fell 0.60 per cent; from the mid-cap space, Jindal Steel was the top loser, down 5.6 per cent to Rs 62.50. Container Corp, NALCO, JSW Energy, IDBI Bank, Blue Dart, Indian Bank, JSW Steel and ABB were also trading in the red, down 1.5-2.6 per cent each.
9:22 a.m.: The Sensex fell over 150 points and Nifty moved below its crucial psychological level of 7,450 in the opening deals on Wednesday on the back of broad-based selling pressure amid weak global cues.
At 9:18 a.m., the Sensex was down 153 points at 24,506 and Nifty fell 46 points to 7,439.
Selling pressure was visible across the sectors. Metal, technology, banking and capital goods stocks were among the worst hit with the respective indices falling between 0.6-1.9 per cent each.
From the Nifty-50 basket of stocks, 33 were falling while 17 were gaining.
Vedanta was the top Nifty loser, down 5.6 per cent to Rs 85.30. Hindalco, Tata Steel, ICICI Bank, Adani Ports and SEZ, Cairn India, Tata Motors, State Bank of India, Punjab National Bank and ITC were also among the losers, down 1.6-4 per cent each.
8:00 a.m.: The Sensex and Nifty are set to open on a weak note tracking subdued trading of Nifty futures on the Singapore Stock Exchange amid negative global cues.
The Nifty futures traded on the Singapore Exchange also known as the SGX Nifty was down 0.36 per cent or 27 points at 7,430.
Meanwhile, other Asian markets were also trading with a negative bias. China's Shanghai Composite and Shanghai Shenzen indices slumped over 2 per cent each. Hong Kong's Hang Seng was down 0.72 per cent and Japan's Nikkei fell over 1.6 per cent.
Overnight, US stocks ended near the lows of the day on Tuesday as energy shares tumbled alongside the price of oil and soft Chinese trade data rekindled fears that the global economy is weaker than anticipated.
The Dow Jones industrial average fell 109.85 points, or 0.64 per cent, to 16,964.1, the S&P 500 lost 22.5 points, or 1.12 per cent, to 1,979.26 and the Nasdaq Composite dropped 59.43 points, or 1.26 per cent, to 4,648.83.
Back home, foreign institutional investors bought shares worth Rs 775 crore while domestic institutional investors sold shares worth Rs 1,341.51 crore on Tuesday.

No comments:

Post a Comment