Market Closing : Trend For Tomorrow 23 April 2013

Equity benchmarks rallied Monday, with theSensex now having risen close to 1000 points from the low seen the Friday before last. Dealers said hopes of increased money flows into equities because of the recent weakness in commodity prices, as well an improvement in India’s macroeconomic fundamentals, were driving the uptrend, brokers said.

Brokerage house Nomura has listed India, Korea, Thailand and Philippines as the biggest likely winners in terms of higher growth, lower inflation and/or better economic fundamentals, if the fall in commodity prices sustained.

The BSE Sensex closed at 19,169.83, up 153.37, up points over the previous close. The Nifty gained  51.30 points to close at 5834.40.

Metals, banks, capital goods and realty shares were among the best performers as bears scurried to square up their short positions in anticipation of further buying.

Tata Steel, Hindalco, Coal India, Larsen & Toubro, HDFC Bank, Bhel and Reliance Infra were among the key gainers in the Nifty, climbing 3-4 percent.

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Nifty For Monday 25 Mar 2013

Key indices fell sixth day in a row Friday, shedding roughly 4 percent on a week-on-week. The mood in global markets has become edgy after the developments in Cyprus earlier this week, and back home foreign fund flows have slowed down considerably this month.

The Sensex closed at 18735.60, down 57 points over the previous close, and the Nifty shed 7 points to close at 5651.

With today’s losses, the Sensex has shed 835 points in the last six sessions, and the Nifty, 258 points. The near 4 percent weekly decline is the worst in about 15 months.

Brokers expect more volatility next week, with the market open for just three trading sessions and the F&O expiry due on Thursday.

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Realty and state-owned banks have been the worst performers in a week in which midcap and small cap shares took a renewed pounding.

Among frontline shares, Reliance Infra, DLF, Tata Steel, BHEL, PNB, ACC, SBI and BPCL fell 8-18 percent.

But the real carnage was in the midcap space, with shares like Manappuram Finance, HDIL, MMTC, IVRCL, Sintex, Orchid Chemicals, Delta Corp, Pantaloon and Educomp tanking 18-32 percent.

Brokers say slowing FII flows has been a key reason for the slide. In December, January and February, FIIs net purchased an average of Rs 22,000 crore worth of shares every month. In March so far, net FII purchases in equities has been less than Rs 8500 crore.

The RBI cut the benchmark repo rate by 25 basis points earlier this week, but made it clear that it had limited room for further interest rate cuts. Most analysts and economists do not expect banks to cut interest rates unless consumer price inflation shows signs of easing.

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Indian Stock Market Trend and Nifty Range

Market in next few days will be highly volatile but highly profitable with individual stock will fly around making quick gains opportunity. So Spot a stock early when it started moving. FIIS’ are pouring money never before, DIIs’, Mutual funds are selling and Retail investors are not participating. If it sustain above 6080/6140 with volume, then huge short covering is expected in the bear hammered stocks. Hence fantastic opportunity is available for some quick profit. Nifty will find support at 5940/5900 level.

NIFTY RANGE :- 5960-6060

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