New Page 1 The market is likely to remain volatile ahead of expiry of May delivery contracts and weak Asian markets in current trades.
The market is likely to remain volatile ahead of derivatives expiry for May series and weak global markets may put pressure on domestic indices in early trades. However, presence of strong bullish sentiment may help the market to turn positive. The Nifty could test higher levels at 4325 and may dip around 4225, while the Sensex has a likely support at 13950 and may face resistance at 14250.
US indices ended weak on Wednesday, a sharp rise in Treasury yields added to jitters over a looming bankruptcy for General Motors. The Nasdaq slipping by 19 points to close at 1748 amid selling in technology stocks and while the broader Dow Jones end 173 points lower at 8300.
Indian ADRs had a mixed outing on US bourses. VSNL, Rediff ,Patni Computer, Dr Reddy, HDFC Bank and Patni Computers dropped around 1-5% each. While, MTNL gained 10.97% while Infosys, Wipro, Tata Motors and ICICI Bank were up around 1% each.
The Nymex light crude oil for July delivery shed $1 at $63.45 a barrel. In the commodity segment, the Comex gold for August series gained by 10 cents to settle at $955.20 an ounce.
Daily trend of FII/MF investment in equities
On May 26 2009, FIIs were net sellers of stocks to the tune of Rs82 crore (purchases worth Rs82 crore and sales of Rs63 crore) while domestic mutual funds were net sellers of stocks to the tune of Rs63 crore (purchases worth Rs798 crore and sales of Rs861 crore).
Hang-Seng,Taiwan & Shanghai Markets closed today.
SGX Nifty @ 9.15 : -ve 23 points
Stocks with +ve Bias : HCL Tech ( s/l 169 ), Tisco (SL 362),HPCL
Stocks with ve Bias :
Stock for short-term delivery: Mro-Tek
Stocks for Investment: Man Industries, Godrej Consumer, BEL, Orient Paper
Ex Dividend: Motilal Oswal (Rs 0.8/sh)
NSE to exclude Bajaj Holdings, Corporation Bank and IndusInd Bank from F&O after expiry of May series (June and July contracts would continue), takes the total number of F&O inclusions to 53
Results Today: L&T, M&M, SAIL, Nagarjuna Construction, Chennai Petroleum, Tata Power, Tata Chemicals, PSL, Gokaldas Exports, Hindustan Dorr-Oliver, Bajaj Electricals
