Daily Equity Report by www.epicresearch.co 02 August 2012
Daily Market
Indian equity markets up .22%
Nifty up 13.35 pts and settle at 5253.40
Sensex up 21.20 pts at 17257.38
Bank Nifty up 28.70 pts at 10463
Global Market
European markets were up with FTSE down by 42.07 pts at 5677.35, CAC up by12.57 pts at 3304.23 and DAX down 9.58pts at 6762.68
Dow future up 43.00 pts at 12992
Market Analysis
Key benchmark indices eked out marginal gains after witnessing intraday volatility. The barometer index, BSE Sensex, was provisionally up 2.88 points or 0.02% up close to 50 points from the day's low and off about 55 points from the day's high. The market breadth was positive. Small-Cap and Mid-Cap indices on BSE outperformed the Sensex. Provisional data showing that foreign funds remained buyers of Indian stocks on Tuesday, 31 July 2012, underpinned sentiment. Index heavyweights Reliance Industries (RIL) edged lower in volatile trade. Adani Power dropped after reverse turnaround in Q1 June 2012. Organised retailers were mostly higher. Capital goods stocks rose. Cement shares rose as cement firms will start unveiling monthly sales data for July 2012 from today, 1 August 2012. FMCG stocks rose on renewed buying, with Dabur India and Bajaj Corp hitting 52-week highs.
The market was volatile. The Sensex reversed initial losses and hit its highest level in almost two weeks at the onset of the trading session after provisional data showed foreign funds remained buyers of Indian stocks on Tuesday, 31 July 2012. Volatility continued as key benchmark indices reversed initial gains and slipped into the red to hit fresh intraday lows in morning trade after the latest data showed that India's merchandise exports declined 5.45% in dollar terms in June 2012. Volatility continued as the Sensex recovered from intraday low and moved into the positive terrain in mid-morning trade. The market once again slipped into the red in early afternoon trade.
News you can use
Sensex closes flat midcap, smallcap indices Gain 1%
RIL regains most valued company Status, ONGC at 2Nd spot
Ciplas Q1 profit rose stronger than Expected 58% YoY to rs. 401cr.
Foreign investors continue batting on Indian stock
Factors to watch:
NIFTY
Nifty looks bullish
Strategy: Buy on dips
Support:5180
Resistance:5280
BANK NIFTY
Bank Nifty looks bullish
Strategy: Buy on dips
Support: 10345
Resistance:10490
STOCKS TO WATCH
UB HOLDING
MARUTI
JET AIRWAYS
UNITED SPIRITS
TATA STEEL
SCRIPS IN BAN PERIOD
Suzlon
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