MARKET SUMMARY FOR 25 JUNE 2015

Sensex jumped 167 points or 0.6 percent at 27895. Nifty closed the session 37 points up at 8,398. The activity on the index options side of the market clearly tells us that the weak closing that happened in the last session is more due to bull liquidation rather than due to shorts getting created at the instance of the bulls. The candlestick pattern on the end-of-day chart for the last couple of sessions shows the bulls need fresh gumption and at least a bit of regrouping before they march forward, if at all. The range between 8341 and 8350 would act as the most critical zone for the day. Next strong support is located between 8398 and 8389. on hopes the government’s push on housing would aid income.Prime Minister Narendra Modi earlier in the day launched smart cities, housing for all and urban rejuvenation schemes for Asia’s third largest economy.

Also, the south-west monsoon rains have been above normal so far in June, stoking hopes the central bank will cut rates in October than in 2016 as anticipated earlier after delivering three cuts of 25 basis points each in 2015 so far.

Reserve Bank of India Governor Raghuram Rajan told newspaper Economic Times the progress of the monsoon thus far has been “quite strong”, raising hopes of further interest rate cuts.

The Sensex fell over 90 points in early trade today as participants indulged in offloading positions in view of June series expiry in the derivatives segment amid a weak global trend.

30 shares on Sensex ended in green. After consolidation, the market ended with gains. The Nifty closed June F&O series tad below 8400-level. About 1353 shares advanced, 1316 shares declined, and 159 shares were unchanged. Bajaj Auto gained 5 percent and L&T was up 4 percent.  GAIL and HDFC twins were other gainers in the Sensex. Among the losers were Wipro, HUL, ONGC, Cipla and TCS.All the sectoral indices led by consumer durable, FMCG, and metal were trading in negative zone with losses up to 0.83 per cent.

TOP GAINERS AND LOSERS ARE:

Top Gainers
BAJAJ AUTO (4.0%), VEDANTA LTD (2.9%), L&T (2.1%), HDFC (2.1%), DR. REDDYS LAB (1.8%)
Top Losers
WIPRO (-1.2%), CIPLA (-0.9%), ONGC (-0.9%), M&M (-0.9%), COAL INDIA (-0.5%)