Market Analysis for Nov 18, 2011

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Market Analysis for Nov 18, 2011
Today, the Indian domestic markets may open in the red following the bearish trend of the rest of the foreign markets. The Asian markets too have opened in the red, after the US and European markets ended on the declining note yesterday. The market sentiments were depressed as anxiety over Europe increased and yield on bonds of Spain and even France touched record highs. Now the market is expecting that the European Central Bank will buy the bonds of troubled economies to prevent the yields from rising further.

The Nifty, yesterday, went below the 5000 market as heavy selling by FIIs continued. It may go down further if the selling continues today. The government is considering giving nod to 100 per cent FDI in single brand retail and 51 per cent FDI in multi-brand retail. The stocks of retail companies like Pantaloon may benefit from this news. On the last day of the week there are no signs that the domestic markets will reverse the continuing bearish trend.

Yesterday, BSE SENSEX closed at 16461.71 down by 314.16 points or by 1.87 % and then NSE Nifty ended at 4934.75 down by 95.7 points or by 1.9 %. The BSE MIDCAP closed at 5775.92 down by 76 points or by 1.3 %, while the BSE SMLCAP ended at 6301.73 down by 73.06 points or by 1.15 %. The BSE Sensex touched intraday high of 16807.15 and intraday low of 16408.5 The NSE Nifty touched intraday high of 5036.8 and intraday low of 4919.45.

The net FII investment in the Indian markets on November 17th, 2011 stood at Rs -1763.60 crore. The net inflows by FIIs were negative on this day.

The gross purchases by the FIIs in the Indian equity markets were of Rs. 1737.20 crore. The gross sales were of Rs. 2199.3 crore. The net investment in the equity markets by FIIs on November 17th, 2011 stood at Rs – 462.10 crore.

The gross purchases by the FIIs in the Indian debt markets were of Rs 660.50 crore. The gross sales by FIIs were of Rs 1962.00 crore. The net investment by the FIIs in the debt markets stood at Rs – 1301.50 crore.

Today, the Asian markets have opened in the red. At 7.40 A.M. Indian time, the Nikkei 225 was down 111.67 points and was at 8367.92. The Hang Seng was down 364.14 points and was at 18453.33. The Taiwan weighted was down 110.37 points and was at 7279.66. The Shanghai composite was down 16.58 points and was at 2446.46.

On Thursday, November 17th, 2011 the US markets closed in the red. The Nasdaq closed at 2586.45, losing 51.62 points over the previous day"s closing. The anxiety over Europe increased as the yields on bonds of Spain and even France touched record highs. This depressed the sentiments of the market in spite of some good news on the US economic front. Initial jobless claims for the week ended November 12 totaled 388,000, which is the lowest weekly claim since April.

The Dow Jones Industrial lost 134.86 points and closed at 11770.73. The S & P 500 lost 20.78 points and closed at 1216.13. The New York Stock Exchange composite (NYA) lost 117.87 points and closed at 7274.15. The European Markets ended in the red yesterday as French and Spanish bond yields touched record highs. Now the market is expecting that the European Central Bank will buy the bonds of troubled economies to prevent the yields from rising further. The DAX lost 63.19 points and closed at 5850.17. The FTSE 100 lost 85.88 points and closed at 5423.14. The ATX was down 40.40 points and closed at 1808.70 .

Gold prices ended lower by 3 per cent to settle at $1720.20 per ounce, while silver prices were down 7 per cent and closed at $31.50 per ounce.

Dion Global Solutions Ltd

Read more about: bse, nse, stock, europe, spain
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