Late selling drags Sensex to close RED, Nifty up

Yesterday, the Late selling in SENSEX drag to Close flat, NIFTY was up by 6%. The market hit fresh 7-month high intraday Friday with the Sensex reclaiming 27000 and Nifty 8250 levels.

 The Nifty rose 64.15 points or 0.79% to settle at 8,220.80.Growth in India's gross domestic product accelerated to 7.9% in Q4 March 2016 compared with a revised reading of a growth of 7.2% in Q3 December 2015.

The major event next week is a monetary policy review from the Reserve Bank of India (RBI). The RBI will announce the Second Bi-monthly Monetary Policy Statement, 2016-17 at 11.00 IST on Tuesday, 7 June 2016.  

Nifty Directional: - Buy Nifty Future above 8290 Target 8340, 8390Stop Loss 8190.

Today's Stock Market Overview

At the end of the weekly trading session, market is showing its mix nature of being bullish and bearish too Sensex is hovering around 26,894 points and Nifty gained 4 points to 8222. Having a sight on Asian market, Japan's benchmark Index Nikkei topped with rise in 79 points to 16,642, Shanghai Composite fell down in the morning session but managed to balance and drifted up to trade positive with 12 points to 2,938. Axis Bank, M&M, Bajaj Auto, HUL, Hero Motocorp are the top gainers while Lupin, Bharti Airtel, BHEL, SBI and Sun Pharma are top losers trading negative today.

Idea Cellular, India's third largest telecom company stocks slumps around 10 percent today. Private equity firm Providence Equity Partners to sell about half of its stakes in Idea which amounts to be Rs 14 crore.

In Commodity Market, Gold is trading steady with 14 rupees up to Rs 28,877 per ten grams while Silver hiked up by Rs 169 to Rs 38,697. Natural Gas and Crude oil being positive are trading on Rs 163 and Rs 3317 respectively.

Sensex Nifty Opened Marginally Higher, Gold Silver Under Big Pressure

In the Monday Morning Session, Indian Stock Market opened with good positive points. But, now holding them seems to difficult with the current trading stream. The Indian Indices Sensex and Nifty have moved down a bit with giving in-consistence performance. Currently, Sensex is trading at 26717.11 with the hike of 63.51 points and Nifty is trading at 8177.75 with the hike of 21.10 points. Auto, Bankex, Bank Nifty, Capital Goods, Healthcare, IT, Metals, PSU, TECk, Small Cap and Mid Cap sectors have gained positive leads, while Oil & Gas, Consumer Durable and FMCG are in loss. In Asian Market, Japanese Index Nikkei have jumped up by 181.16 points and trading at 17016, while others are performing average. In Company Stocks, Hindalco, Coal India, Tech Mahindra, Tata Motors and Idea Cellular are the top gainers, while BHEL, Adani Ports, HDFC, Zee Entertain and NTPC are the top losers today.
In Indian Commodity Market, our Precious Metals are trading under high pressure. Gold have received the loss of 151 points and dropped to 28452 and Silver have lost 448 points and went  down to 38418, while Crude oil is live at 3315 with the lead of 5 points. In Mcx Commodity Market, the other commodities are like Natural gas at 146.20 loss 0.80, Aluminium is at 103.90 hike 0.25, Copper at 313.70 loss 0.60, Nickel at 562 loss 0.10, Lead at 113.85 hike 0.25, Zinc at 127.85 hike 0.15 and Mentha oil is at 858 with the hike of 4.90 points. In Ncdex Commodity Market, Cocudakl, Tmcfgrnzm and Jeeraunjha have positive leads, while Charjddel, Rmseed, Sybeanidr, Dhaniya, Sugarm and Barleyjpr are in loss.