The Indian bourses are currently trading in the negative terrain during midsession trade after experiencing heavy selling pressure across certain sectors, overshadowing the positive cues from the Asian market. On the Asian front, markets are trading higher following the over-night gains in the Wall Street. The commodity companies are enjoying the buying positions after the hike in oil and metal prices. On the domestic front, sectors like FMCG, AUTO, CG and IT are witnessing the most of selling pressure.
The broader market indices are trading negative as BSE Mid Cap and Small Cap are trading down by 0.69% and 0.33% respectively. The key benchmark indices are trading at BSE 30-share Sensex below 18,105 mark, while Nifty is below the 5,445 mark.
At 12.25 BSE SENSEX was trading at 18,102.20 down by 225.56 (1.23%) and the NSE Nifty was trading at 5,440.75 down by 65.15 (1.18%).
The BSE MIDCAP was at 6,821.20 down by 47.15 (0.69%) and the BSE SMLCAP was at 8,449.67 down by 28.15 (0.33%).
On the economic front, the six core industries viz crude oil, petroleum refining, coal, electricity, cement and finished steel together have a combined weight of 26.7% in IIP. Further, these sectors surged by 6.6% in December in comparison to November. Thus India’s infrastructure is recovering from its 18-month low of 2.7% in November in IIP index, thus showing high volatility.
On the corporate front, Hitachi Home & Life Solutions fell by 2.97% to Rs 194.50 after the company suffered a decline in the net profit by 94% to Rs. 0.53 crore in the Q3 results.
Everest Kanto Cylinder rose by 2.65% to Rs 81.40 after the company reported a tremendous increment of 1422.2% in its net profit to Rs. 23.29 crore in its Q3 results.
At present, the market breadth indicating the overall health is negative with 1,161 stocks advancing, 1,432 shares declining and 110 stocks are left unchanged. Further, the overall market breadth is negative as all the 13 sectoral indices are trading lower.
Losers from the Sensex Pack till now are Tata Motors (4.17%), Jindal Steel (3.59%), Wipro (3.31%), ITC (3.1%) and L&T (1.96%).
The BSE FMCG index was at 3,290.05 down by 76.15 points or by (2.26%). The main losers were ITC (3.1%), Marico (3.43%), Nestle India (3.04%) and Godrej Cons (1.84%).
The BSE AUTO index was at 8,729.28 down by 165.3 points or by (1.86%). The main losers were Tata Motors (4.17%), Exide Inds (2. 61%) , Amtek Auto (2.45%) and Cummins India (1.66%).
The leading Asian bourses are trading lower as Hang Seng, Taiwan Weighted and Nikkei 225 are trading higher by 54.35, 43.02 and 36.58 points respectively.
The broader market indices are trading negative as BSE Mid Cap and Small Cap are trading down by 0.69% and 0.33% respectively. The key benchmark indices are trading at BSE 30-share Sensex below 18,105 mark, while Nifty is below the 5,445 mark.
At 12.25 BSE SENSEX was trading at 18,102.20 down by 225.56 (1.23%) and the NSE Nifty was trading at 5,440.75 down by 65.15 (1.18%).
The BSE MIDCAP was at 6,821.20 down by 47.15 (0.69%) and the BSE SMLCAP was at 8,449.67 down by 28.15 (0.33%).
On the economic front, the six core industries viz crude oil, petroleum refining, coal, electricity, cement and finished steel together have a combined weight of 26.7% in IIP. Further, these sectors surged by 6.6% in December in comparison to November. Thus India’s infrastructure is recovering from its 18-month low of 2.7% in November in IIP index, thus showing high volatility.
On the corporate front, Hitachi Home & Life Solutions fell by 2.97% to Rs 194.50 after the company suffered a decline in the net profit by 94% to Rs. 0.53 crore in the Q3 results.
Everest Kanto Cylinder rose by 2.65% to Rs 81.40 after the company reported a tremendous increment of 1422.2% in its net profit to Rs. 23.29 crore in its Q3 results.
At present, the market breadth indicating the overall health is negative with 1,161 stocks advancing, 1,432 shares declining and 110 stocks are left unchanged. Further, the overall market breadth is negative as all the 13 sectoral indices are trading lower.
Losers from the Sensex Pack till now are Tata Motors (4.17%), Jindal Steel (3.59%), Wipro (3.31%), ITC (3.1%) and L&T (1.96%).
The BSE FMCG index was at 3,290.05 down by 76.15 points or by (2.26%). The main losers were ITC (3.1%), Marico (3.43%), Nestle India (3.04%) and Godrej Cons (1.84%).
The BSE AUTO index was at 8,729.28 down by 165.3 points or by (1.86%). The main losers were Tata Motors (4.17%), Exide Inds (2. 61%) , Amtek Auto (2.45%) and Cummins India (1.66%).
The leading Asian bourses are trading lower as Hang Seng, Taiwan Weighted and Nikkei 225 are trading higher by 54.35, 43.02 and 36.58 points respectively.
Thank you,
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SUPP 1: 29560
SUPP 2: 29340
STRATEGY: BUY ON DIPS
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