MARKET SUMMARY FOR 03 JULY 2015

Sensex today rose by 147 points to again rally past 28,000-mark, largely driven by gains in banking and capital goods stocks on renewed buying interest by foreign investors and higher government spending. Nifty surged 40 points or 0.47 per cent to close at 8,484 after hovering between 8,497 and 8424 during the session. sensex After a hesitant start, it recouped the 28,000-mark to hit the day's high of 28,135. before settling at 28,092., showing a recovery of 147 points or 0.53 per cent. The Indian stock market rose on Friday, despite the global weakness seen other Asian markets. nifty index was nearly touch a psychological levels of 8,500 made high of 8496 and the support by banking and pharmaceutical stocks. Very narrow range bound activity marked the action of the last trading session so far as the index movement is concerned. We need a break out above this zone or a breakdown below this zone for a directional move. In the event of market getting past firmly above 8480 then we can expect at least a test of 8526 or even higher if not close to or around the 8600-zone. On the downside, unless the index falls decisively below 8418 level there would be no major threat as such or any vulnerability. Below 8418, the level to watch out for would be located at 8356. A breakdown below 8456 on high volume activity would mean much lower levels to come.

SECTORS&STOCKS

Sectorally, Oil and Gas index is leading the rally, nearly up by 1% followed by FMCG and Auto sectors. The downward trend is seen in IT, Metals, and Consumer durables indices. The stock has surged over 2% on the Sensex. Reliance Industries has gained 0.8% on the after the company decided to invest over Rs 250,000 crore in the digital space, contributing to Digital India initiative by the Prime Minister. IT stocks are trading down after reports that global IT spending is likely to decline. Also, the ongoing development in Greece has raised caution. Infosys and TCS are down 1.1% and 0.3% respectively, while Wipro is up 1.1%.After a rangebound session, markets have slipped in the negative territory owing to weakness in the Index heavyweights amid weakness in the European peers. Meanwhile, the mood remained skittish after hopes of a last minute deal between Athens and the euro zone dampened.

TOP GAINERS AND LOSERS ARE:

TOP GAINERS

Lupin 1.99%, HDFC 1.93%, BHEL 1.66%, Cipla 1.59%, L&T 1.28%, Dr. Reddy’s Lab 1.21%, HDFC Bank 1.12%, NTPC 1.02%

TOP LOSERS

Tata motors 0.98%, Wipro 0.76%, Coal India 0.72%, Hindalco Inds 0.63%, Maruti Suzuki 0.45%, Sesa Goa 0.20%,