Morning report equity:
The Indian indices is likely to remain volatile ahead
of F&O expiry on Thursday. It has to continue to
trade above 10250 for bullish bias to continue. The
Nifty futures on the Singaporean stock exchange
were trading lower by around 25.50 points at 10268,
a fall of around 0.25 percent.
Pivot |
R1 |
R2 |
S1 |
S2 |
|
Nifty |
10292 |
10344
|
10392 |
10244 |
10193 |
Bank Nifty |
24918
|
25276 |
25515 |
24679 |
24321 |
Turnover(cr)
|
NSE &BSE(Total value)
(Rs. Cr)
|
||
INDEX FUTURES
|
42,971.50
|
FII
|
-3582.5
|
INDEX OPTIONS
|
9,15,136.26 |
DII
|
-155.71
|
STOCK FUTURES
|
1,68,204.80
|
||
STOCK OPTIONS
|
76,085.05 |
Put Call Ratio 0.88
|
|
Market Volume (in Rs Crore)
|
|
NSE CASH |
29,462.06 |
NSE F&O |
707,851.89 |
Major news
The market posted spectacular rally on Wednesday as equity benchmarks ended at record closing high, with the Sensex rising more than 500 points intraday driven by banks after to spur the economy, the government announced a whopping Rs 2.11 lakh crore recapitalisation plan for PSU banks. Infrastructure stocks also boosted sentiment after the Cabinet cleared nearly Rs 7 lakh crore worth of highway projects.
Punjab National Bank was biggest gainer among largecaps, rising 46 percent while State Bank of India, Canara Bank, Union Bank, Bank of India, Bank of Baroda, OBC, Allahabad Bank, IDBI Bank and Andhra Bank gained between 19 percent and 39 percent.
Morgan Stanley doubled upgraded SBI, ICICI Bank, and Punjab National Bank to Overweight (OW). It also raised Axis Bank to OW from equal-weight EW, and Bank of Baroda to Equal-Weight (EW) from Under-Weight (UW).
Infrastructure stocks, especially road developers recorded hefty gains after the Modi government on Tuesday approved the spending of Rs 6.92 lakh crore over the next five years for developing 83,677 km of roads. Out of this, close to 5.4 lakh crore will be spent on Bharatmala Pariyojana comprising development of 34,800 km of roads.
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