Monday, March 28, 2011

Indian Stock Market Experts

This caused the tech-rich Nasdaq Composite to trim its gains after it had been up by 1% at its session high. Research In Motion (RIMM 56.89, -7.20) was reason behind weakness as its dramatic fall due disappointment over the firm's forecast and a subsequent downgrade by analysts at Deutsche Bank. Data released included the third estimate for fourth quarter GDP, which was revised upward to reflect growth of 3.1%. Crude oil contracts for May closed lower by 0.2% at $105.39 per barrel, while April natural gas prices closed higher by 3.6% at $4.4 per MMBtu.

On Friday, the U.S. markets closed higher thus marking gains in six out of last seven sessions. Broad-based buying pushed stocks to its highest level in a dozen days. The strength came despite political and social instability in the Middle East and North Africa and also Japan's radiation risk. Energy stocks gained 0.9% mainly led by Newfield Exploration (NFX 75.68, +2.91) and Valero Energy (VLO 29.93, +1.14).

Whereas, Schlumberger (SLB 86.89, -1.21) was one of only a few names in the sector that failed to put together a gain. Tech initially showed some leadership amid upside earnings surprise and strong forecast from Oracle (ORCL 32.64, +0.50), but a lack of support in the second half of the session left the sector to finish with a gain of less than 0.2%.

In the major indices, the Dow Jones Industrial Average (DJIA) closed with a gain of 50.03 points or 0.41% at 12,220.59, while NASDAQ index finished higher by 6.64 points or 0.24% to 2,743.06. The S&P 500 (SPX) closed up by 4.14 points or 0.32% to 1,313.8.

The FIIs on Friday stood as net buyer in equity and debt. Gross equity purchased stood at Rs. 2167.80 Crore and gross debt purchased stood at Rs. 2356.70 Crore, while the gross equity sold stood at Rs. 1822.40 Crore and gross debt sold stood at Rs. 1920.90 Crore. Therefore, the net investment of equity and debt reported were Rs. 345.40 Crore and Rs. 435.80 Crore

Top traded Volumes on NSE Nifty – Jaiprakash Associates Ltd. 14283805, ITC Ltd. 11706955, DLF Ltd. 9930774, Hindalco Industries Ltd. 6928310, Reliance Communications Ltd. 6749882.

On BSE, total number of share traded was 33.80 Crore and total turnover stood at Rs. 3272.87 Crore. On NSE, total number of shares traded was 61.36 Crore and total turnover stood at Rs. 12104.85 Crore.

On NSE Future and Options, total number of contracts traded in index futures was 813699 with a total turnover of Rs. 21705.56 Crore. Along with this total number of contracts traded in stock futures were 813423 with a total turnover of Rs. 21113.54 Crore. Total numbers of contracts for index options were 4541835 with a total turnover of Rs. 127014.54 Crore. and total numbers of contracts for stock options were 139371 with a total turnover of Rs. 3880.12 Crore.

Today, Nifty would have a support at 5,598 and resistance at 5,669 and BSE Sensex has support at 18,721 and resistance at 18,860.

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