The FIIs were net sellers to the tune of Rs 561.46cr (prov. cash market fig) |
The Indian markets kick started the March F&O series with smart gains even, as Mamata Banerjee's largely populist Railway Budget was countered by an upbeat Economic Survey. But, Friday’s gain didn’t come all that easy with the key indices turning highly volatile in the afternoon before finishing marginally higher.
The NSE Nifty managed to close above 5,300 and the BSE Sensex closed at 17,700. Banking and FMCG shares were the top gainers followed by Auto. On the flip side, IT stocks extended this week’s fall. The BSE Mid-Cap and the BSE Small-Cap indices witnessed some selling pressure, dragging down the market breadth into the negative territory.
FOR TODAY: Though almost all the news on Budget were factored in and market men are not expecting anything new, but still if there is any surprise, market may boom at anytime during the day and/or tomorrow. However, though EU as well as US markets were closed green on Friday, almost all Asian markets are trading in RED except Shanghai which is totally FLAT. SGX Nifty is trading at 5325 (at 8.15 am), down 3 points suggesting Nifty may open around 5325. Due to budget activity, market will be highly volatile. TRY NOT TO TRADE ATLEAST FOR TODAY. MAJOR SUPPORT FOR TODAY IS AROUND 5224 AND RESISTANCE IS AROUND 5400.
WEEKLY OUTLOOK:
1. WEEKLY DERIVATIVE by ICICIDIRECT;
2. WEEKLY WRAP by IIFL;
3. INFO SPECTRUM by SUSHIL FINANCE
WEEKLY OUTLOOK:
1. WEEKLY DERIVATIVE by ICICIDIRECT;
2. WEEKLY WRAP by IIFL;
3. INFO SPECTRUM by SUSHIL FINANCE
