Daily Equity Report By www.epicresearch.co - 16 JULY 2012

Daily Market * Indian equity markets down 0.20% * Nifty down 10.55 pts and settle at * 5240.85 * Sensex was down 18.85 pts at 17213.70 * Bank Nifty down 15.70 pts at 10617

Indore, India (prHWY.com) July 16, 2012 - Daily Equity Report by www.epicresearch.co - 16 JULY 2012

Daily Market
* Indian equity markets down 0.20%
* Nifty down 10.55 pts and settle at
* 5240.85
* Sensex was down 18.85 pts at 17213.70
* Bank Nifty down 15.70 pts at 10617.00
Global Market
* European markets were up with FTSE up by 29.24 pts at 5637.49, CAC up by 12.26 pts at 3147.44 and DAX up 59.78 pts at 6479.13
* Dow future up 38.00 pts at 12540.00.
* USD PPI m/m is 0.1% and previous was -0.1%.
Market Analysis
Indian markets fell over 1.5 per cent this week as the earnings season got off to a mixed start. The BSE Sensex fell for the third straight day, down 19 points or 0.1 per cent at 17,214, while the broader Nifty index declined 8 points to 5,227. Markets declined despite modest gains in Asian and European stocks. The silver lining was the rupee, which gained nearly 1 per cent and traded at 55.39 to the dollar at 03.50 p.m.
Markets broke down from a narrow range, with the Nifty closing below the key 5,250 level. That opens further downsides in the markets. The earnings season got off to a mixed start. Infosys was the biggest disappointment because it revised its sales outlook for FY13 to 5 per cent from 8-10 per cent earlier. Gains were led by HDFC Bank, which met Street estimates in the June quarter. It reported a net profit of Rs 1,417 crore the stock gained 1.2 per cent to end at the top of the Nifty index. Metals, realty, and consumer durables led the declines on the BSE today. FMCG stocks, considered to be defensive plays, gained. On the Nifty index, 31 of the Nifty 50 stocks closed lower. Commodity stocks like JSPL



News you can use
* HDFC Bank Q1 PAT seen up 30% to Rs 1411 cr.
* LIC ups Infosys stake to record high; buys Rs 2kcr worth shares
* Market excited as MCX stock exchange gets Sebi approval.
* RBI unlikely to cut rates in July policy review, say experts.
Factors to watch:
NIFTY
* Nifty looks bearish
* Strategy: Sell on rise
* Support:5285
* Resistance:5205
BANK NIFTY
* Bank Nifty looks bearish
* Strategy: Sell on rise
* Support: 10560
* Resistance: 10710
STOCKS TO WATCH
* YES BANK
* UFLEX
* ABAN
* SBI
* ADANI
SCRIPS IN BAN PERIOD
* HDIL
* JET AIRWAYS
* SUZLON
* ALOK TEXT
* PUNJLLOYD
* SUZLON

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