Nifty 9,422/Sensex 30,250 / Bank Nifty 22,818
29 Advances / 22 Declines/ 0 Unchanged
* Indian benchmarks settle with moderate gains; market breadth negative*
It turned out to be a session of moderate gains for the Indian stock markets, which came off the highest point of the day in dying hours of trade as investors booked profits in recent outperformers such as Bharti Airtel and Hindustan Unilever, while negative opening in European markets also capped gains. However, the benchmarks managed to settle at record closing highs for the second straight session as local sentiments continued to show signs of improvement amid optimism over Indian Meteorological Department's prediction of a 'normal' monsoon this calendar. IMD said that the prospects of the monsoon have brightened due to reduced chances of El-Nino. With results of several front line stocks due over the course of the next few sessions and the data on industrial output and consumer price inflation due on Friday, the mood was slightly cautious. Furthermore, with the indices and various blue chip stocks hovering around all-time highs, market participants are looking for some direction to build up significant positions. Investors remained cautious with the RBI's data suggesting that new financial year began on a sour note for bank credit growth, which slipped to 4.32% in the fortnight to April 28, much lower than the 63-year low level of 5.08% in FY17. However, sentiments got some support with the report that Prime Minister Narendra Modi is setting up a task force under the chairmanship of the Vice Chairman of NITI Aayog Dr Arvind Panagriya, with an aim to create policies on employment based on credible data. The Prime Minister has directed that this task be expedited so that policies on employment can be formulated with a proper appreciation of impacts, based on credible data. Meanwhile, Auto stocks surged on expectations of lower interest rates after a better monsoon forecast eased inflation fears in a country that depends heavily on rains to irrigate its farmlands.
On the global front, Asian markets ended mostly higher on Thursday as global equities remained at record levels and a rebound in oil boosted energy producers. Chinese shares ended higher, led by gains in realty and infrastructure stocks, after reports suggested that the central bank is likely to inject funds via its medium-term lending facility on Friday. Also, Japanese market eked out some gains as crude prices inched higher and the yen held steady around the 114 level following the release of strong trade and investment data. However, European markets were under pressure as investors reacted to the latest batch of corporate earnings.
Back home, the local benchmarks got off to an encouraging start tracking the optimism prevailing in Asian markets as a rebound in oil boosted energy producers. The frontline indices soon gathered momentum and traded with over quarter percent gains through the morning session of trade. However, the bourses witnessed intense selling pressure in a volatile afternoon session after surging to all-time highs in initial trade. The frontline indices treaded on a southbound journey thereafter as investors gradually started taking profits off the table, which led the benchmarks to snap Thursday's session around low point of the day. Finally, the NSE's 50-share broadly followed index - Nifty settled with trivial gains of fifteen points above the psychological 9,400 levels, while Bombay Stock Exchange's Sensitive Index - Sensex shed three points and closed above the psychological 30,200 mark. The market breadth remained pessimistic, as there were 1247 shares on the gaining side against 1583 shares on the losing side, while 162 shares remained unchanged.
FII’s Activity 11-May-17
The FIIs as per Thursday’s data were net buyers in equity and debt segments both, according to data released by the NSDL.
In equity segment, the gross buying was of Rs 9717.64 crore against gross selling of Rs 8352.72 crore. Thus, FIIs stood as net buyers of Rs 1364.92 crore in equities.
In the debt segment, the gross purchase was of Rs 678.91 crore with gross sales of Rs 562.70 crore. Thus, FIIs stood as net buyers of Rs 116.21 crore in debt.
Now what to expect??
Nifty Levels
Support at 9280 and Resistance at 9450.
Above 9450 rally remain continue till 9520---9580+++ mark else will it could test its support level of 9280 again.
Bank Nifty Levels
Support at 22550 and resistance at 23075
Trend Looks positive and could touch its resistance level of 23075. Close above 23075 will see further upside rally in it else could touch its support level of 22550 again.
Results Today
Dr. Reddy's Laboratories Limited
Titan Company Limited
Piramal Enterprises Limited
Oriental Bank of Commerce
Century Textiles & Industries Limited
13-May-2017
The Karnataka Bank Limited
Idea Cellular Limited
More will update soon!!
