Wednesday, July 8, 2015

MARKET SUMMARY FOR 8 JULY 2015

FOR FREE STOCK TIPS FILL UP THE FORM GIVEN TO YOUR RIGHT SIDE>>>>>>>>>
The Sensex plunged by 484 points or 1.7% at 27,687 and the Nifty settled below the 8,400 mark at 8,363, down 147 points or 1.7%. Continuing its slide, the Sensex in mid-session tanked over 500 points and the Nifty cracked the 8,400-mark after Chinese shares extended rout and fears of Greek eurozone exit hit trading sentiment. Reflecting steep fall in blue-chips, the 30-share index which dipped below the crucial 28,000-mark in early trade, continued to slide and tumbled by 504 points or 1.79 per cent to 27,667. during mid-session, with all the sectoral indices led by metal and auto, falling up to 4.14 per cent. After Greece comes China, the latter’s securities market regulator says, “there is a panic like sentiment in Chinese stock market”. Base metals have crashed through the floor: nickel down 10% first time in quite a few years. The good thing is that bourses like Hong Kong are showing some recovery over the last 30 minutes as we write this Market Outlook; however, the SGX July Nifty shows further weakness—down by 85 points at 8441. The most critical level for the day is placed at 8480 for the index remaining below this level would mean fresh weakness surfacing and if at any stage the 8420 through 8390 support area is taken out it would show greater weakness. Now, we need to take out 8530 on closing price basis to resume the uptrend. However, till such time the index falls below 8350 on closing price basis on high volume activity and large position building, the bulls might again try to stage a bounce back. The markets went into a tailspin today as the meltdown in Chinese markets had a domino effect on Asian bourses, including India. The lingering uncertainty on the Greece front also kept the market participants on the edge.
SECTORS & STOCKS
In the Auto pack, Tata Motors shed 6.5% at Rs 404, also its 52-week lows, on concerns about a slowdown in China, which is the biggest market of Tata Motors (JLR). Maruti, M&M and Hero Motocorp also shed around 0.5-2% each. Banking shares also had a weak session amid the Greece and Chinese crisis. HDFC twins, SBI, Axis Bank, ICICI Bank and Yes Bank shed 1-7% each on the Sensex. TCS shed 1.1% at Rs 2,588 ahead of its Q1 results scheduled to be announced on Thursday, kicking off the corporate earnings results season.Major losers that dragged down the key indices were Vedanta (8.83%), Hindalco (6.20%), Tata Steel (3.90%), BHEL (3.32% ), HDFC (2.46% ), GAIL (2.20% ), Infosys (2.11% ), Coal India (2.05% ), SBI (1.98% ), M&M (1.90%), ITC (1.85%), Cipla (1.69%), Bharti Airtel (1.68%) and ICICI Bank (1.62%).

No comments:

Post a Comment