Indian Stocks 02-February2016

Nifty50 opened with slight upward gap at 7,566; hovered around 7,555, till RBI annouce its bi-monthly policy update; As RBI maintained the Status Quo on key Bank Rates, Nifty made a downward spike to 7,509 and thereafter made V-shape recovery to 7,555. With help of upward momentum, Nifty50 made day's high at 7,576; With a sudden sell of Nifty50 broke previous low and tested 7,500 level; bounced to 7,525 and again with fresh sell off decisively broke crucial 7,490 support to make day's low at 7,428 and finally closed at 1.33 % lower at 7,555. IndiaVix opened in GREEN; slipped in RED and bounced back into GREEN to close 0.8% HIGHER at 18.035. NSE Advance Decline Ratio(ADR) opened near 1.45 and closed at 0.32. On NSE, USD-INR currency Feb'16 expiry future closed 0.2 % HIGHER at 68.26 INR.

Bank Nifty closed 1.61% LOWER. NiftyAuto Index closed 1.31% LOWER. NiftyMetal Index closed 4.82% LOWER. NiftyPharma Index closed 2.7% LOWER. NiftyIT Index closed 0.56% LOWER. NiftyFMCG Index closed 0.46% LOWER. NiftyReality Index closed 2.08% LOWER.

Reliance closed 3.4% LOWER. HUL closed FLAT. SBI made fresh 52 week low and closed 2.23% LOWER. SunPharma closed 4 % LOWER. TataSteel closed 7.66 % LOWER.  Infy closed 0.42% LOWER. TataMotor closed 2.81 % LOWER. 

ICICI BANK, CIPLA, SAIL - all these stocks made fresh 52 week low and closed in RED.

On NSE, Turnover in Equity segment was  HIGHER than previous session; Turnover in Derivative segment was HIGHER than previous session. As per EoD provisional statistics, FII/FPIs Sold equity worth 114 crore INR(net), and DIIs Sold equity worth 323  crore INR(net).

Important Development during the Day :-

Reserve Bank of India (RBI)- India's central Banker had its bi-monthly review meeting and decided to maintain Status Quo on the key Bank Rates, which was in line with the most of  Stock Market analyst. European Market opened on weaker note and continue to slip in RED Zone. At the time of writing this, USA market's key Index Dow Jones is trading in RED. 

Way Ahead :

At the end of session, India Vix is placed in GREEN above 15. NSE ADR is placed at 0.32. Both these together indicates more selling pressure likely to come in upcoming session. 

Written on :  2nd-February2016  21:00 Hrs.