(a) Chennai returning to normalcy.
(b) Gold Prices in US market surged in friday's session,
(c) OPEC decided to increase daily production cap,
(d) On friday, US market's closed with handsome gain.
Taking clue from Asian peers, Nifty50 opened in upward gape, but failed to sustain above 7800 mark. After making low at 7746, Nifty50 finally closed at 7765. NSE ADR opened well above one, kept falling and finally closed below one. After touching 66.80 level, USD-INR Dec. future was trading flat at 66.95 level. India VIX, finally closed in RED,after trading in GREEN in morning session. Compared to last session on friday, Volume in Cash & Derivative segment was low in NSE.
NiftyFMCG Index closed 2.7% lower. NiftyPharma Index closed 1% higher. BankNifty, NiftyIT Index and NiftyMedia Index closed with minor gain. NiftyAuto and NiftyMetal Index closed with minor loss.
ITC closed 7% lower, reacting to unconfirmed news of proposed higher GST Tax rate on cigarettes and luxury items. ITC pulled NiftyFMCG Index down. SunPharma extended friday's gain and closed 2.9% higher. Infy had quite session and closed flat. Bosch closed 0.5% higher. Most PSU banks closed in RED. Stock prices of Bank of India closed 1.5% lower. Stock prices of Canara Bank closed 0.08% lower. Both these stock prices made fresh 52 week low. SBI closed 0.9% lower at 239 INR. which is below its all three SMA i.e. 200Day, 50Day & 20 Day SMA.
As per end of day's provisional statistics, FIIs sold equities worth 65 crore INR (net) and DIIs also sold 55 crore INR (net). India VIX closed in RED and NSE ADR is placed at slightly less than 1. Together all these indicates, lack luster session to follow.
Writer may have position in market/s as per risk profile and market condition. Reader/s must consult financial adviser/s, while acting on provided information. Writer may have discussed similar things with friends in group.
Written Date :- 07.12.2015 Monday 18:15 hours IST
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