10:20am FII View
Bharat Iyer, JPMorgan says equity markets are in consolidation mode, adding
trading volumes and values, delivery volumes and outstanding positions in the
derivatives segment picked up a tad over the last month.
“Investor sentiment remains positive, as reflected in net buying by FIIs and
local MFs. But insiders were sellers and the breadth was negative too,” he
adds.
According to him, separately, implied volatility is at an all-time low level
suggest complacency. “Money market liquidity continues to improve, and interest
rates across the yield curve have declined 20-30 bps over the last month,” says
Iyer.
10:00am Market Check
Equity benchmarks remained in a consolidation mode after seeing more than a
percent fall in previous session. The Sensex rose 2.43 points to 27799.44 while
the Nifty declined 2.20 points to 8338.50.
However, the broader markets outperformed benchmarks with the BSE Midcap and
Smallcap indices rising 0.6 percent each. More than two shares advanced for
every share declining on the Bombay Stock Exchange.
Shares of ITC, Sun Pharma and Hindustan Unilever topped the selling list,
falling 1-2 percent followed by HDFC, Tata Motors, Reliance Industries and
Bajaj Auto with marginal loss.
However, Infosys, ONGC, State Bank of India, Hero Motocorp, ICICI Bank, Axis
Bank, Bharti Airtel, HDFC Bank, TCS and BHEL rose 0.2-1 percent.
Metal stocks like Tata Steel, Hindalco Industries and Sesa Sterlite gained
nearly a percent as Cabinet may decide coal auction floor price today. Cabinet
may decide to fix floor price of Rs 150 per tonne, reports CNBC-TV18. Tata
Power climbed over 2 percent. More information please visit this site www.bigprofitbuzz.com
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