Pre Session : The January rally may again be disrupted today Analysis for Jan 31, 2012

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The January rally in Indian markets was disrupted yesterday on profit booking by the market participants and the looming Greek uncertainty. Today also the same trend may continue. Indian markets are getting negative to mixed cues from their foreign peers. Most of the Asian markets have opened on a mixed note after the negative overnight cues from the European and US markets. The US markets ended in red yesterday. The market sentiments were given a hit by Greece"s inability to reach a debt swap compromise with its creditors. On the US economic front the news was not so negative. Personal income increased by 0.5 per cent in December, however there was no change in personal consumption. The European Markets ended in red yesterday after Greek failed to get an agreement from its creditors. The markets now look with anticipation to the meeting of European leaders to discuss and finalize the bailout.

On the domestic front the rate of growth of eight core industries slowed down to 3.1 per cent in December and this may make a dent on the positivity that the new year generally generated. The FIIs continued to be net buyers yesterday providing important support to the markets. The markets" fate today will again be dependent on their course.

Yesterday the BSE SENSEX closed at 16863.3 down by 370.68 points or by 2.15 % and then NSE Nifty ended at 5087.3 down by 117.4 points or by 2.26 %.The BSE MIDCAP closed at 5756.98 down by 115.38 points or by 1.96 %, while the BSE SMLCAP ended at 6373.59 down by 118.1 points or by 1.82 %.The BSE Sensex touched intraday high of 17138.04 and intraday low of 16828.33 The NSE Nifty touched intraday high of 5166.15 and intraday low of 5076.7.

The net investments by FIIs on 30th January, 2012 in Indian capital markets stood at Rs 1011.40 crore. The net FII investments were positive yesterday.

The gross purchases by the FIIs in the Indian equity markets were of Rs. 4096.00 crore. The gross sales were of Rs. 2731.80 crore. The net investment in the equity markets by FIIs on January 30 th , 2012 stood at Rs 1364.20 crore.

The gross purchases by the FIIs in the Indian debt markets were of Rs 207.20 crore. The gross sales by FIIs were of Rs 560.00 crore. The net investment by the FIIs in the debt markets stood at Rs - 352.80 crore.

Today, most of the Asian markets have opened on a mixed note after the negative overnight cues from the European and US markets. At 7.40 A.M. Indian time, the Nikkei 225 was up 34.33 points and was at 8,827.38. The Hang Seng was up 148.62 points and was at 20,328.03. The Shanghai composite was down 2.85 points and was at 2,282.19.

The US markets ended in red yesterday. The market sentiments were given a hit by Greece"s inability to reach a debt swap compromise with its creditors. On the US economic front the news was not so negative. Personal income increased by 0.5 per cent in December. However, there was no change in personal consumption. The Nasdaq closed at 2811.94, losing 4.61 points over the previous day"s closing. The Dow Jones Industrial lost 6.74 points and closed at 12653.72. The S & P 500 lost 3.32 points and closed at 1313.01.

The European Markets ended in red yesterday after Greek failed to get an agreement from its creditors. The markets now look with anticipation to the meeting of European leaders to discuss and finalize the bailout. The DAX lost 67.53 points and closed at 6,444.45. The FTSE 100 lost 62.36 points and closed at 5,671.09. The CAC was down 53.12points and closed at 3,265.64.

Gold futures ended lower by 0.1 % to close at $1731.10 per ounce, while silver prices lost 0.6 % and closed at $ 33.53 per ounce. Crude oil futures lost 0.7 % to close at $98.76 per barrel.

Read more about: bse, nse
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