Index Trends And Stocks In Action January 13, 2015

Most of the key global markets closed yesterday with a positive return of more than 1%, while Aisan markets opened with mixed returns few of them being tradin lower than 1% due to continuing fall in crude oil and dollar remaining strong. SGX Nifty opening on a positive note on the back of IIP data released yesterday and positive momentum is expected to continue in the Indian Markets also.

Companies which are expected to announce the Dec quarter results today are Lakshmi Vilas Bank, IndusInd Bank, DCB Bank, Geogit BNP and Reliance Industrial Infra.

The Indian market reversed losses to end stronger for third consecutive trading session on Monday on anticipation of healthy Retail inflation data and IIP data.  Banking stocks, FMCG, Capital goods and IT stocks were among the top gainers. On other hand Metal and Energy stocks saw some profit taking. Technically, nifty index has managed to close above high of long legged doji candlestick pattern which was formed as on 9^th December, 2015. This suggests than bulls are in momentum and likely to carry forward this bullish momentum up to levels of 8370-8401. On downside strong support for index is placed around levels of 8280 and 8220.

The Indian market was in swinging mood yesterday, opening with a negative bias and recovering slightly to fall again towards the noon, however with positive news flows pouring in, in regards to the IIP numbers a recovery trend was witnessed by late afternoon which led to a 127 point rally in the Sensex.

Despite keys index stocks like Coal India, Hindalco, Bajaj Auto, Bharti Airtel and Hero Moto Corp being in negative zone and down by 4.54%/2.55%/2.03%/1.92% and 1.90% respectively,   heavy weights like HUL, L&T, Infosys, HDFC and ICICI Bank supported the market by remaining in the positive zone and registering an uptick of 3.84%/2.29%/1.98%/1.57% and 1.27% respectively. Advance/Decline ratio was 50:50 for the index stock with 30 remaining positive and the balance 30 being negative.

All the broader indices remained positive and closed higher in excess of 0.5%. Among sectoral indices Metals was the highest looser down by 1.68% followed by Oil & Gas down by 1.19% and than by Realty marginally down by 0.03%, rest all where in the positive zone with key up-move visible in  Capital Goods, FMCG, IT and Bankex.