The Indian benchmarks indices witnessed some strong selling pressure after an earthquake in Japan weakened the sentiment further. Sell-off was seen in financial, auto, metals, capital good and technology companies. The breadth was negative and the total volumes were very low at 1,20,1148 cr. The BSE Sensex settled down 153 points at 18,174 and the NSE Nifty dropped 49 points to settle at 5,445.45 after hitting an intra-day low of 5411. The March nifty future ended with 17 points premium. For the week Nifty was down 93 points.
FOR MARKET OUTLOOK: READ HERE
FOR MARKET OUTLOOK: READ HERE
FOR TODAY: After a massive earthquake and tsunami hit North-Eastern Japan, The Bank of Japan injected 7 trillion yen ($85 billion) into the money market in a same-day market operation.
February WPI inflation to come in at 7.8% Y-o-Y.
All Asian markets are trading in RED. Nikkei is trading around 4.5% down (expected); However, SGX Nifty is trading at 5449.50, down 13 points around 8.50 am suggests that Nifty may open around 5450 area and will try to move towards 5500. OI data also indicates that at 5400, there is a strong support and if it breaches, maximum we may see 5370/5350 on the down side.
WATCH METAL STOCKS. In addition to this, one may watch ONGC, RIL.
