The benchmark Nifty has tested the 5800 mark amid a choppy trade at 12:40 hours. The Sensex shed about 100 points, dragged down by capital goods, technology, realty, FMCG, power, financial and Anil Dhirubhai Ambani Group companies' shares.
Ashok Mittal of Vertex Securities in an interview with CNBC-TV18 gave his readings and outlook for the bullion market.
The benchmark Nifty was sideways in trade ahead of expiry today, with a negative bias at 11:16 hours. The index still holds the 5800 despite selling in heavyweights HDFC, Reliance Industries, BHEL, Infosys, TCS, Wipro and L&T.
In an interview with CNBC-TV18, Hemant Thukral of SBI Capital Securities and VK Sharma, HDFC Securities, spoke about the March expiry and their outlook for the next expiry.
Vibhav Kapoor of IL&FS says that the tight range of 5,700-5,950 is likely to continue owing to a number of headwinds that the index faces. “There is a lot of uncertainty in investors’ mind as to what could happen to interest rates, inflation and oil,” he says.
Auto, education and banking sectors will be getting astrological support, says Satish Gupta of astrostocktips.
The dollar slumped to three-year lows on Thursday, pushing US crude to a two-and-half year high, while Asian stocks rose as investors bet that the easy US monetary policy will continue to drive money to riskier assets.
With disappointments by heavyweights in the earning season, high inflation and higher crude prices, Suresh A Mahadevan, head of India research with UBS Securities says it is surprising to see how the market has held up despite the odds.
In an interview with CNBC-TV18, portfolio manager PN Vijay, spoke about his multi-bagger ideas and his reading of the market.
Suresh A Mahadevan head of India research at UBS Securities feels that the indices have been afloat on resilient S&P, carry trade and the belief that negatives have been priced in earlier, but that is not the case. "They have been ignoring marginal negative news like crude and disappointing earnings, which may cause a slight (5-10%) pullback."
The rupee should rise for a second day on Thursday, supported by the dollar's drop overseas and expectations for a positive start to domestic shares.
Indian equity benchmarks were extremely volatile in early trade ahead of F&O expiry today. Indices shrugged off positive global cues. The Nifty remains in a tight range around its previous closing value.
Madhucon Projects incorporated on dated 14th December 1995. Today Moon is transiting over the 7th house from the natal moon and other planetary combinations are indicating some upside in intraday.
As per astro economics today capital goods, public sector finance companies, housing loan related finance, metal, cement stocks likely to lead in front in Indian stock market.
The Indian rupee opened at 44.27 per dollar versus 44.43 yesterday.
Its expiry day for the April series and the Fed meeting is out of the way. It’s done nothing to rattle sentiment.
Kirk West, managing director Asia, Principal Global Investors, Investment Strategy says that the impact of Bernake’s comments will be good for equities. “Conditions will be good for growth assets, however, we are expecting further weakness in the dollar index,” he says
10:20 to 11:40, you may get to see an abnormal pattern at Nifty. If you trade without stop-loss during this period, you may lose all the profit you have made this month.
The rupee is expected to strengthen today on the dollar's weakness globally, says Ssharad D Pawaar, SPFX India.
Dollar Index was closer to 73 post Fed meet. Its all time low is 70.69. FOMC left rates unchanged and foresees exceptionally low levels for an extended period.
Market cues: Market-wide rollover 63% AND Nifty rollovers 58%.
Gold rose to a record high above USD 1,520 an ounce on Wednesday after the Federal Reserve announcement that it would keep US interest rates very low.
On to the commodities, oil climbed for a second day after a government report showed gasoline stockpiles in the US declined more than analysts estimated to the lowest since August 2009.
The Dow Jones Industrial Average ended up 96 points at 12,691. NASDAQ Composite was up 22 points at 2,870 and S&P 500 Index rose 8.4 points at 1,355.
I expect to see sideways consolidation in the bond market with the 10-year yield ranging between 8-8.10% ahead of the Policy, says Moses Harding, IndusInd Bank.