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Market Outlook 2nd April 2012
Market Outlook 2nd April 2012
India Research
April 2, 2012
Dealers Diary
Domestic Indices Chg (%) (Pts) (Close)
The Indian markets are expected to open flat with a negative bias tracking cues from SGX Nifty which is trading marginally in the red. However, most of the Asian indices are trading higher in the range of 0.2-0.8%. The economic data released by various US agencies was a mixed bag. While on a positive note, personal spending in February 2012 was better than estimates at 0.8%, personal income growth came in below estimates at 0.2% for the month. Further, consumer sentiment has showed an unexpected improvement in the month of March. Thus, while Dow Jones and S&P 500 closed higher by 0.5% and 0.4% respectively, Nasdaq closed marginally lower by 0.1%. The major European markets edged up higher on Friday. On the domestic front, the Indian markets surged higher on Friday following the Finance Ministers clarification that Participatory Note holders would not be taxed. Further, the RBIs purchase of `10,000cr worth of bonds through open market operations (OMOs), too buoyed market sentiments. Meanwhile the markets will be keenly tracking the EXIM data to be released for the month of February 2012.
BSE Sensex Nifty MID CAP SMALL CAP BSE HC BSE PSU BANKEX AUTO METAL OIL & GAS BSE IT Global Indices Dow Jones NASDAQ FTSE Nikkei
2.0 2.3 2.4 2.0 1.8 2.6 2.6 2.3 2.6 2.8 2.2
Chg (%)
345.6 17,404 116.7 145.5 132.6 119.9 183.5 5,296 6,346 6,629 6,626 7,311
8,088 6,082
(Close)
Markets Today
The trend deciding level for the day is 17,316 / 5,269 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 17,527 17,651 / 5,334 5,372 levels. However, if NIFTY trades below 17,316 / 5,269 levels for the first half-an-hour of trade then it may correct up to 17,193 16,982 / 5,230 5,165 levels.
Indices SENSEX NIFTY S2 16,982 5,165 S1 17,193 5,230 PIVOT 17,316 5,269 R1 17,527 5,334 R2 17,651 5,372
Indian ADRs
Chg (%)
(Pts)
(Close)
News Analysis
BSE
NSE
NTPC commissions Unit IV of Simhadri STPP L&T bags order worth `1,875cr
Refer detailed news analysis on the following page
1,145 323 48
3,683 12,053
Gainers / Losers
Gainers Company
Mangalore Ref Bosch OIL INDIA Jain Irrigation JUBL FOOD
Losers Company
Suzlon Energy Coromandel Intl Amtek Auto United Brew Apollo Hosp
Price (`)
68 8,251 515 99 1,168
chg (%)
11.7 8.6 8.4 8.4 8.1
Price (`)
25 285 132 541 639
chg (%)
(3.3) (1.7) (1.7) (1.6) (1.2)
April 2, 2012
Brent rises towards US$123 on tighter US gasoline market India's fiscal deficit during April to February was `4.94 lakh crore Need to tackle inflation for high growth: RBI No tax liability on P-Notes, says FM
Corporate News
ONGC ropes in ConocoPhillips for exploration CIL asked to provide 80% assured delivery to power firms NTPC to invest `17,000cr on two projects Unitech seeks injunction against Telenor on biz transfer
Source: Economic Times, Business Standard, Business Line, Financial Express, Mint
April 2, 2012
Source: Economic Times, Business Standard, Business Line, Financial Express, Mint
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April 2, 2012