Daily Equity Report by www.epicresearch.co 09 JULY 2012
Daily Market
Indian equity markets down 0.29%.
Nifty down 15.40 pts and settle at 5329.10.
Sensex down 17.55 pts at 17521.12.
Bank Nifty up 11.75 pts at 10650.00.
Global Market
European markets were down with FTSE down 1.28 pts at 5691.35, CAC down 12.76 pts at 3216.60 and DAX down 20.67 pts at 6514.89.
Dow future down 12.00 pts at 12820.00.
USD Non- Farm Employment Change is 80k and previous was 77k.
Market Analysis
Indian markets ended a lackluster week with modest losses Friday. The BSE Sensex declined 17.55 points or 0.1% to 17,521, while the broader Nifty index shed 10 points to 5,317. This was the fifth straight day of range bound trade on the Street since the huge rally last Friday, when markets saw the biggest gains of 2012.For the week, the Sensex gained 0.5%, while the Nifty advanced 0.7%. The Nifty index managed to close above the 5,300 level after nearly two months, but 5,350 is a big resistance going forward.
High beta metal and realty stocks saw the biggest cuts, falling over 1%. On the Nifty index, 36 of the 50 stocks ended lower. Commodity stocks like JSPL (-3.2%), Sesa Goa (-2%), and Sterlite Industries (-1.8%) were among the top losers on the Nifty. ITstocks fell ahead of reporting earning next week. Infosys (-1.4%) was the biggest drag on the Sensex.India's second biggest IT firm will report earnings Thursday, and analysts have predicted the company to revise its dollar revenue guidance lower. The BSE IT index was the worst performed for the week, falling nearly 2%.
Banks and FMCG stocks saw some buying interest. Private lender ICICI Bank (1.5%) was the top Nifty gainer; followed by auto maker MM (1.3%), and FMCG major HUL (1.2%).The market breadth was negative with only 31% stocks managing to advance on the broader BSE 500 index.
News you can use
IT growth this quarter will come from currency swings, not fundamentals.
Metal,ITstocks fallinrangeboundtrade;Niftyholds5300.
Golddemandstays subduedonweakrupee.
European shares, euro flat ahead of ECB decision.
Factors to watch:
Prime Focus eyes Rs. 380 crore in U.S. share sale
Indias crucial monsoon rain fell 31 per cent below average up to 2 July 2012.
Low Bond yields expecting out of turn action by RBI?
Tribunal rules against telcos in 3G roaming case
Government Reign: Who will be the FM?
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