Daily Equity Report by www.epicresearch.co - 26th March 2013
Epic Research is a leading financial services provider with presence in Indian and other global capital markets.
* Indian equity markets were down 0.31%
* Nifty down by 17.50 pts and settle at
* Sensex down by 54.18 pts at 18681.42
* Bank Nifty down by 78.35 pts at
* European markets were up with FTSE
up by 54.40 closed at 6447 ,CAC up by
64.49 closed at 3834 and DAX up by
106.70 closed at 8018.
* Dow future was up 56.00 closed at
* Key benchmark indices reversed intraday gains on political worries following reports that the Samajwadi Party (SP) might withdraw support to the Congress led UPA government at the Centre. The market breadth was weak. The 50-unit CNX Nifty hit 17-week low. The barometer index, the S&P BSE Sensex, hit its lowest level in almost 17 weeks. The Sensex was provisionally down 55.21 points or 0.29%, off close to 270 points from the day's high and up about 25 points from the day's low. Index heavyweight and cigarette maker ITC edged lower in choppy trade. Another index heavyweight Reliance Industries (RIL) reversed intraday gains in late trade. Indian stocks fell for the seventh straight day today, 25 March 2013..
* Tata Consultancy Services (TCS) gained after the company said during market hours today, 25 March 2014, that company secured a contract from Norway Post. Auto stocks edged lower after PSU OMCs raised diesel prices by 45 paise per litre from 23 March 2013.
* The market trimmed gains after a firm start triggered by higher Asian shares. The market further trimmed gains to hit fresh intraday low in morning trade. The Sensex further pared intraday gains to hit fresh intraday low in mid-morning trade. The Sensex regained strength in early afternoon trade. The market once again pared gains to hit fresh intraday low in mid-afternoon trade. The market slipped into the red to hit fresh intraday low in late trade.Volatility may remain high on the bourses this week as traders roll over positions in the futures & options (F&O) segment from the near month March 2013 series to April 2013 series
* No concerns on HSBC stake sale;
* demand will rise in Q1: TBZ
* Shale gas exploration policy in next 1015 days
* OC to raise diesel prices from Saturday
* Cairn begins gas sales from Rajasthan
STOCKS TO WATCH
* IDEA CELLULAR
SCRIPS IN BAN PERIOD
FACTORS TO WATCH
* Nifty looks Bearish
* Strategy: Sell on rise
* Support: 5600
* Resistance: 5700
* Bank Nifty looks Bearish
* Strategy: Sell on rise
* Support: 11080
* Resistance: 11200
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