Mid Session Nifty Trading report by ShareTipsInfo on 09-October-2014

8/11/2019 Mid Session Nifty Trading report by ShareTipsInfo on 09-October-2014

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An exclusive report by

Sharetipsinfo.com

Mid Session Nifty TradingReport on 09-Oct-2014


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Overview:

The Indian markets rebounded made a gap up opening and

are trading jubilantly in early deals with frontline gaugessurpassing their crucial 7900 level.

Major headlines:

Industrial output likely rose 2.4 percent in August

Cummins India shares gain, Deutsche upgrades to buy Hindalco surges, rival Alcoa earnings beat forecasts

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3/13

Indian Indices:

Indian equity markets are continuing their momentum

with uniform pace and both the major indices weretrading up by over a percent in late morning session.

There is no sign of profit booking from any corner andthe gains are visible across the board. Traders are pickingup beaten down stocks at lower valuation, also there

was support from the money market with rupeeextending its rising streak for the fourth straight day

after the dollar weakened overseas.



4/13

Indian Indices: Review

There was some support with a private report saying that

Indian industrial output probably bounced in Augustfrom a four-month low, driven by solid growth in core

industries. While, the broader indices are outperformingthe benchmarks, all the sectoral indices are managing to

hold their early gains, led by Capital Goods and Realty.

Meanwhile, with an aim to increase the domestic ureaproduction, the Fertilizer Ministry has notified New Urea

Investment Policy for setting up and expansion of ureaplants in the country.



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Indian Indices: BSE Sensex

The BSE Sensex is currently trading at 26539.27, up by

292.48 points or 1.11% after trading in a range of 26394.21and 26571.66.



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Indian Indices: BSE & CNX Nifty

There were 27 stocks advancing against 3 stocks declining

on the index. The broader indices were trading in green;the BSE Mid cap index was up by 1.35%, while Small capindex gained 1.48%.The CNX Nifty is currently trading at7929.10, up by 86.40 points or 1.10% after trading in a

range of 7886.50 and 7940.70. There were 45 stocks

advancing against 5 stocks declining on the index.



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Market Sentiment:

The market breadth on the BSE was positive; there were

1562 shares on the gaining side against 385 shares on thelosing side while 53 shares remain unchanged.



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Microeconomic Front:

Expressing concern over high exposure of banks to

infrastructure and real estate sectors, RBI Deputygovernor R Gandhi today cautioned lenders saying they

cannotput all eggs into one basket. As an alternative,the deputy governor suggested looking at corporatebonds market, which is being encouraged by both the

central bank and the government. Together, the realestate and infrastructure sectors account for 25 per cent

of the total credit exposure.



9/13

On the Global Front:

The US markets rallied and ended considerably higher in

last session, reacting positively to the minutes of thelatest Federal Reserve meeting, where some Fed officials

expressed concerns about global economic weaknessand the impact of a stronger US dollar. The Asianmarkets were trading mostly in the green at this point of

time as Federal Reserve concerns over a global economicslowdown spurred bets that US interest rates will remain

low.



10/13

On the Global Front:

The Asian markets were showing mixed trend, FTSE Bursa

Malaysia KLCI increased by 5.57 points or 0.31% to1,829.89, Taiwan Weighted was up by 11.09 points or0.12% to 8,966.27, Straits Times added 25.21 points or

0.78% to 3,251.92, Jakarta Composite gained 45.67 pointsor 0.92% to 5,004.19 and Hang Seng was higher by

225.21 points or 0.97% to 23,488.54



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Nifty Movers:

The top gainers on Nifty were Hindalco up by 5.51%, BHEL

up by 3.83%, PNB up by 2.80%, Bank Of Baroda up by2.51%, SBI up by 2.48%. On the flip side, Tech Mahindradown by 0.81%, NMDC down by 0.46%, Mahindra &Mahindra down by 0.32%, Bajaj Auto down by 0.15% and

ITC down by 0.12% were the top losers.



12/13

Top Sectoral & Stock Screening:

The gaining sectoral indices on the BSE were Capital Goods

up by 1.72%, Realty up by 1.67%, Bankex up by 1.52%,Metal up by 1.30%, Power up by 1.26%, while none of thesectoral gauges was in red.



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Mid Session Nifty Trading report by ShareTipsInfo on 09-October-2014

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