Indian Indices:
The S&P BSE Sensex is trading at 25,928, up 163 points, while NSE Nifty is trading at 7,989, up 60 points. Nifty continues to see foreign selling dominate proceedings with fear being the dominant theme. The perception of sharp slowdown in the economy on the back of demonetization is leading to short term pain with ETF selling exaggerating the visible fall out. For today, expect bounce back from extremely oversold zone as PCR (put call ratio) trading @ 0.7 indicates pessimism at a high with call writing overdone. Banks, energy & IT should lead the pullback with FMCG & Infra being laggards for today.
Asian markets excluding Japan all traded in the green as an earthquake in Japan & threats of a Tsunami break out kept the Japanese index flat to marginally negative. This after oil hit a new 4 week high along with the Dow Jones, Nasdaq & the S&P index rising in tandem. The risk on trade is back in action as globally bullishness resurfaces with Japan & the US indices in
Global Market:
Asian stocks rose on Tuesday in the wake of solid gains in U.S. markets overnight, while the Japanese yen briefly strengthened after a powerful earthquake rocked northern Japan.
US stocks climbed to close at a record and European equity markets also moved higher as a jump in oil prices helped spur gains in the energy sector.
NEW YORK All three major U.S. stock indexes set record closing highs on Monday, extending their post-election rally as energy and other commodity-related shares gained and Facebook led a jump in technology.
Major Headlines of the day:
• L&T: The company will announce its Q2 numbers today.
• IRB Infra: The company will announce its Q2 numbers today.
• All cargo Logistics: The company will announce its Q2 numbers today.
Trend in FII flows: The FIIs were net buyers of Rs -1310.82 Cr in the cash segment on Monday while the DIIs were net sellers of Rs 1211.01 Cr, as per the provisional figures.
UPCOMING RESULTS: ALLCARGO, LT, IRB, BRILA CORP.
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