Friday, March 18, 2011

Today Intraday Call

On Thursday, the U.S. markets closed higher as stocks bounced back after reporting sizable losses for three straight sessions in reaction to a massive earthquake in Japan, subsequent failures at that country's nuclear facilities, and ongoing social and political crisis in the Middle East and North Africa. Buyers came back to trade with a broad-based bid that pushed the Dow and S&P 500 up more than 1%.

The Nasdaq also staged a strong gain, but lagged its counterparts amid weakness in (AMZN 160.97, -3.73), which descended to a new three-month low. Further, Energy stocks emerged as leaders during the session as the Energy Select SPDR (XLE 76.00, +2.25) spiked to a 3% gain.

The sector was also assisted by incline in crude oil prices. On the other hand, despite increase in oil prices, global delivery outfit FedEx (FDX 87.89, +2.61) was a top performer following its strong forecast, which overshadowed an earnings miss for the latest quarter.

Additionally, unimpressive guidance from Guess? (GES 37.71, -6.16) overshadowed the retailer's upside earnings surprise for the latest quarter. Further, a bunch of data were released which had little or no impact on trade such as initial weekly jobless claims for the week ended March 12 totaled 385,000, in line with the expected 386,000 initial claims.

Besides, consumer prices for February surged by 0.5%, above the expected 0.4% discount. None of data release managed to provide support for the dollar, which continued its fall against Japan's yen. Crude oil contracts for April closed higher by 3.5% to $101.42 per barrel, while April natural gas prices closed up by 5.7% at $4.16 per MMBtu.

In the major indices, the Dow Jones Industrial Average (DJIA) closed with a gain of 161.29 points or 1.39% at 11,774.59, while NASDAQ index finished higher by 19.23 points or 0.73% to 2,636.05. The S&P 500 (SPX) closed up by 16.84 points or 1.34% to 1,273.72.

The FIIs on Thursday stood as net seller in equity and net buyer in debt. Gross equity purchased stood at Rs. 2211.50 Crore and gross debt purchased stood at Rs. 1401.10 Crore, while the gross equity sold stood at Rs. 2336.00 Crore and gross debt sold stood at Rs. 549.70 Crore. Therefore, the net investment of equity and debt reported were Rs. (124.50) Crore and Rs. 851.40 Crore.

Top traded Volumes on NSE Nifty – Reliance Communications Ltd. 20898620, Jaiprakash Associates Ltd. 9851949, Suzlon Energy Ltd. 9676207, Hindalco Industries Ltd. 8563200, ITC Ltd. 7809038.

On BSE, total number of share traded was 22.92 Crore and total turnover stood at Rs. 2952.31 Crore. On NSE, total number of shares traded was 48.25 Crore and total turnover stood at Rs. 11061.27 Crore.

On NSE Future and Options, total number of contracts traded in index futures was 711047 with a total turnover of Rs. 18184.91 Crore. Along with this total number of contracts traded in stock futures were 496402 with a total turnover of Rs. 12856.82 Crore. Total numbers of contracts for index options were 3029383 with a total turnover of Rs. 83863.80 Crore. and total numbers of contracts for stock options were 110249 with a total turnover of Rs. 3031.69 Crore.

Today, Intraday stock Nifty would have a support at 5,421 and resistance at 5,513 and BSE Sensex has support at 18,054 and resistance at 18,374.

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