MARKET SUMMARY FOR 02 JULY 2015

 Sensex was trading 75 points or 0.3 percent down at 27,945. Similarly, Nifty was down 8.15 points or 0.1 percent at 8,444.There is every likelihood a higher high today compared to yesterday: we are probably going to see the Nifty getting past 8470 and trying to scale up to even the 8500-mark in the day’s session. Now, if the bulls are able to hold the index above 8468 then they would try to get past the 8500-mark as well. Beyond the coveted 8500-mark, three resistance levels are worth watching out for 8526, 8550 and 8589 before it hits the 8600-mark as well. On the downside, so long as 8383 is held there is not much to worry for the bulls while they would use dips to buy more and push things higher. during the same time. After a rangebound session, markets have slipped in the negative territory owing to weakness in the Index heavyweights amid weakness in the European peers. A stronger global market driven by hopes of a Greece deal kept up the pace.which had gained 375 points in the past two sessions, gained another 95 points, or 0.33 per cent, at 28,115.Today the market ended in red. About 1499 shares advanced, 1271 shares declined, and 153 shares were unchanged.

SECTORS & STOCKS

Oil and Gas index is leading the rally, nearly up by 1% followed by FMCG and Auto sectors. The downward trend is seen in BSE IT, Metals, and Consumer Durables indices.

Bharti Airtel is set to launch full mobile number portability (MNP) from tomorrow, which will allow customers to retain their numbers across the country. The stock has surged over 2%. Reliance Industries has gained 0.8% after the company decided to invest over Rs 250,000 crore in the digital space, contributing to Digital India initiative by the Prime Minister. State Bank of India (SBI), Oriental Bank of Commerce, Union Bank of India, Bank of India, Canara Bank and Punjab National Bank gained  2%-4% each. The private banking space also rose in tandem, with ICICI Bank, Axis Bank and Yes Bank rallying between 1% and 3% each.

Top Gainers

BHARTI AIRTEL (2.3%), M&M (2.0%), BAJAJ AUTO (1.9%), WIPRO (1.1%)
Top Losers
TATA MOTORS (-1.7%), HINDALCO (-1.3%), VEDANTA LTD (-1.3%), HDFC BANK (-1.2%)