Stock Market Trading Trends and Predictions


Posted September 30, 2015 by vivekhello4

Domestic markets positive in the short term. Indian markets are likely to see selling pressure at higher levels.

 
GLOBAL MARKETS ROUNDUP
The S&P BSE Sensex surged over 250 points in morning trade on Wednesday following positive trends seen in other Asian markets. The rally in the index was led by gains in HDFC, ICICI Bank, TCS, Infosys, RIL and Sun Pharma. The 50-share Nifty index managed to surge past its crucial resistance level of 7,900, supported by gains in consumer durables, banking, metals, realty, pharma and FMCG stocks.

INDIAN ADR’S NEWS
• Indian ADRs ended higher on Tuesday.
• In the IT space, Infosys gained 0.21 percent at USD 18.05.
• Wipro added 0.35 percent at USD12.01.
• In the banking space, ICICI Bank was up 0.11 percent at USD 8.30.
• HDFC Bank gained 1.95 percent at USD 60.12.
• In the other sectors, Tata Motors added 0.08 percent at USD 21.81.
• Dr Reddy’s Laboratories rose 0.23 percent at USD 61.61.

The bigger-than-expected rate cut from Reserve Bank of India chief Raghuram Rajan has turned the sentiment in domestic markets positive in the short term. Indian markets are likely to see selling pressure at higher levels, say analysts. 8050 to 8100 levels are likely to be the resistance level for Nifty.Rate sensitive banking, auto and realty stocks are likely to be in also in focus today after the RBI's rate cut. These stocks had outperformed the markets yesterday, buoyed by the rate cut. Most Asian stock markets were steady on Wednesday after sliding to 3-year lows but a weak outlook for commodities and persistent concerns about China's economy discouraged most buyers.

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Last Updated September 30, 2015