1. BSE Sensex breaks 7-day losing trend, closes at 27,458, but volatility continues

BSE Sensex breaks 7-day losing trend, closes at 27,458, but volatility continues

The benchmark BSE Sensex today ended at 27,458.64, up by a marginal 1.06 points to technically snap the seven-session losing streak in a highly volatile trade...

By: | Mumbai | Updated: March 27, 2015 7:29 PM
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BSE Sensex ended at 27,458.64, up by a marginal 1.06 points to technically snap the seven-session losing streak in a highly volatile trade. Reuters

The benchmark BSE Sensex today ended at 27,458.64, up by a marginal 1.06 points to technically snap the seven-session losing streak in a highly volatile trade amid continuing geo-political tensions.

The NSE Nifty, however, settled the day in the red at 8,341.40, ending the week on a negative note.

This is the third consecutive weekly loss for both the indices.

Vineeta Mahnot, Equity Research Analyst, Hem Securities
The market witnessed consolidation throughout the day after yesterday’s steel fall. Sensex swung between positive and negative terrains with making a high of 27694 and low of 27248 and shutting the day almost unchanged. Bharti Airtel, Wipro, Reliance Industries, M&M, Tata Power and Coal India were among the major contributors for the fall in the index while Hindalco, Infosys, SBI, L&T, ICICI Bank and Tata Motors supported the index. Among the sectors, Capital goods and banking and financial were on the buyer’s radar whereas oil & gas, FMCG and real estate were on the loser side. Market breadth was negative with 875 advances against 1580 declines on the BSE while 124 stocks were unchanged.

The 30-stock index opened on a positive note on the back of a new series for April beginning in the derivatives segment. However, it gradually slipped due to foreign capital outflows on concerns about rising tension in the Middle-East and profit-booking at every rise.

Later, it wiped off losses completely and settled the day at 27,458.64, higher by 1.06 points, or 0.10 per cent at 27,458.64.

Intra-day, it touched a high of 27,694.41 and low of 27,248.45.

Market Wrap Up by Alex Mathews, Head Research, Geojit BNP Paribas Financial Services
After opening in green the markets slipped into negative territory on the back of profit booking. But in the closing session it pared some of its losses on the bargain buying. Major technical indicators are still looks weak, but the RSI (relative Strength Index) is in the oversold region, helped the market to recover.  Due to banking holidays and exchange holidays in the next week, participants reluctant to create large open positions in the April series, even the roll- over of April Nifty series was shade lower than the previous month suggesting uncertain market conditions during the beginning of the April series.Nifty today closed at 8341 down around 0.01%.  The market breadth was negative as there were seen 1050 stocks advancing against 1771 stocks declining. The Nifty volatility index, India VIX stood at 14.5000 down around 4.36%.
The major sectorial gainers for the day were Capital goods and Banking which closed up around 1.38% and 1.13% respectively. On the other side, the losers were Oil & gas and FMCG, which ended down around 1.59% and 1.03% respectively.
In the stocks’ front, the major losers were telecom stocks IDEA and Bharti Airtel which closed down around 5.12% and 4.85% respectively whereas the gainers were IDFC and Hindalco which closed up around 4.33% and 3.40% respectively.
The FIIs were sellers in the cash markets segment, sold shares worth Rs 521.23 crore on Thursday, 26 March 2015. On the other hand the DIIs were net buyers on 26 March 2014, bought shares worth Rs 687.09 crore as per the provisional data from the stock exchanges.
The European markets rebounded from a two day drop and the US

In the previous seven sessions, the Sensex had lost 1,278.80 points, including 654.65 in yesterday’s session.

After moving in an erratic fashion, the 50-share NSE Nifty ended the day at 8,341.40, 0.75 point lower than its previous close.

Brokers said the first day of new monthly derivatives contract attracted buying in IT, metal, banking, auto and capital goods shares, helping the Sensex to close in the positive terrain.

Profit-taking emerged at every high level, brokers said, adding that escalating crisis in Yemen has rattled investors.

Recent outperformers led the decliners. Sun Pharmaceutical Industries which gained 16.9 percent this month till Thursday, fell 1.2 percent, while Dr Reddy’s Laboratories  fell 2.1 percent after gaining 5.1 percent so far this month till Thursday.

Hindalco at 2.97 per cent was the best Sensex gainer, followed by Infosys 2.68 per cent, SBI 2.59 per cent, L&T 2.50 per cent, ICICI Bank 2.23 per cent, Tata Motors 1.82 per cent, NTPC 1.29 per cent, Tata Consultancy Services added 1.4 percent and Maruti Suzuki 1.29 per cent.

Bharti Airtel was the biggest loser of the day at a huge 5.64 per cent.

Market Outlook by Vinod Nair, Head-Fundamental Research, Geojit BNP Paribas Financial Services
We believe that India is in the later half of the consolidation since Nifty at 9100 level. This global concerns in middle east has added flare to the consolidation. After the steep correction on the expiry day, banks and IT have recovered on short covering. With lower expectation on Q4 earnings and negative return of -7% in March, April is likely to see a volatile start. No further negative surprise from Q4 and  Post Budget reforms form the second shift of budget-session from 20th April will influence the market ahead.

Among BSE sectoral indices, Capital Goods index rose by 1.32 per cent, followed by Banking index (1.07 per cent), IT index (0.52 per cent), Auto index (0.43 per cent) and metal index (0.11 per cent).

Foreign portfolio investors sold shares worth Rs 521.23 crores yesterday, according to provisional data.

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