Thursday, October 17, 2013

Today’s Stock Market – A Flat Start

Indian markets end in red. Nifty, Sensex down by 0.39% and 0.29%.

The Indian markets witnessed a flat, positive opening this morning. Due to the close of Indian Stock market on Wednesday, people are rushing back to book profit. Nifty on daily charts has formed Bearish engulfing pattern and RSI is showing negative divergence. This suggest market is has formed short term top and may see some weakness ahead. However there are some positive points as well nifty has hold on to levels of 6080 on closing basis.

Asia-Pacific markets traded higher over US deal optimism. Nikkei up.

US ended up. UK’s CPI (YoY) at 2.7%. Dow futures up by 185 points.

·         NSE Gainers

COMPANY NAME
CURRENT
PREV. CLOSE(RS)
CHANG.(RS)
CHAG.(%)
Zuari Agro Chem
97.2
84.65
12.55
14.83
Phillips Carbon
38.25
34.8
3.45
9.91
Alchemist
43
39.3
3.7
9.41
KPR Mill
152.15
139.3
12.85
9.22
Vascon Engineer
21.5
20
1.5
7.5

Top 5 Nifty Gainers: JP Associates is the top gainer so far, up by 4.1%, followed by Cairn, ONGC, Ranbaxy Labs and Bajaj Auto.

Top 5 Nifty Losers: TCS has dipped by 3.8%. Tata Motors, HCL Tech, IndusInd Bank and L&T are among the other stocks that are trading lower.


The market slipped into the red after a positive start triggered by higher Asian stocks. A bout of volatility was witnessed as key benchmark indices recouped entire initial losses in morning trade. Intraday volatility continued as key benchmark indices trimmed gains after hitting fresh intraday high in mid-morning trade.

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