A slow start was seen in Asia after Standard & Poor"s downgraded Greece"s credit rating to the lowest debt grade, raising concerns over the global economic recovery. The MSCI Asia Pacific Index was nearly flat at 131.54 with about three stocks gained for every two that fell.
The Japanese Nikkei225 was trading higher by 0.16% at 9463.18 and the Chinese Shanghai Composite gained by 0.96% at 2726.19. Further, the Seoul Composite and Taiwan Weighted gained by 1.49% and 1.15%, respectively. In the domestic arena, the markets are likely to follow the route of its global peers and is expected to witness volatile movements as investors cautious ahead of the RBI policy meet on Thursday. The Oil&Gas, Metal, Banking and Realty space will be in focus during today"s trade.
Today, Nifty will face a resistance near 5,510 level and will have a support near the 5,420 mark.
On Monday, the domestic bourses ended the first trading session of the week on a flat to negative note as investors remained skeptical regarding the RBI"s policy review on Thursday. After witnessing a gap down opening, the benchmark indices continued to drag further and made fresh intraday lows.
As the day progressed, the benchmarks were seen paring off all the morning losses backed by strength in the Capital Goods and Power space. However, post mid-session, no major movement on either side was witnessed and the benchmarks traded in a narrow range across the baseline for the rest of the session.
Investors remained cautious ahead of the RBI policy meet on Thursday. Among, the Sensex stocks, JP Associates, NTPC and Cipla gave well support to the mark, whereas Hindalco Industries, Reliance Industries, Tata Steel, TCS and SBI maintained pressure.
The BSE Sensex closed at 18,266.03 down by 2.51 points or by 0.01% an NSE Nifty closed at 5,482.80, lower by 3.00 points or by 0.05%. The BSE Midcap was at 6,917.65, higher by 19.37 points or by 0.28% and the BSE SmallCap closed at 8,313.32, increasing by 24.86 points or by 0.30%. The BSE Sensex touched intraday high of 18,313.21 and intraday low of 18,120.76.
On Monday, the U.S. markets closed on a quiet note after trading the entire session on a narrow range. The early morning gains, which came amidst buying at lower levels after Friday"s slump, were mostly pared off. The financials rallied which started in a lackluster note, finished off the session with 1% gain.
The energy stock ended with a 1.4% loss after a strong start as the decline in crude oil prices hampered the sentiment among the sector"s stocks. Lack of any driving factor together with low participation made the indices to close the session on a flat note.
In the major indices, the Dow Jones Industrial Average (DJIA) closed with a gain of 1.06 or 0.01% at 11,952.97 while NASDAQ index finished down by 4.04 points or 0.15% to 2,639.69. The S&P 500 (SPX) closed higher by 0.85 points or 0.07% to 1,271.83.
The FIIs on Monday stood as net seller in equity, whereas net buyer in debt. Gross equity purchased stood at Rs. 1969.60 crore and gross debt purchased stood at Rs. 1816.50 crore, while the gross equity sold stood at Rs. 2439.70 crore and gross debt sold stood at Rs. 1537.30 crore. Therefore, the net investment of equity and debt reported were Rs. (470.10) crore and Rs. 279.20 crore, respectively.
Top traded volumes on NSE Nifty - Jaiprakash Associates 9744042, Hindalco Industries 6475200, Reliance Communications 4898746, Tata Steel 4827155 and IDFC 3301718.
On BSE, total number of shares traded was 25.74 crore and total turnover stood at Rs. 2,483.55 crore. On NSE, total number of shares traded was 46.38 crore and total turnover stood at Rs. 8686.11 crore.
In the NSE Futures and Options segment, total number of contracts traded in index futures was 387244 with a total turnover of Rs. 9831.16 crore. Along with this total number of contracts traded in stock futures were 370830 with a total turnover of Rs. 9355.48 crore.
Total numbers of contracts for index options were 2197664 with a total turnover of Rs. 60849.65 crore and total number of contracts for stock options was 87369 with a total turnover of Rs. 2207.94 crore.