China Telecom Stocks
China Telecom Stocks
Indian Share Market Tips For Intraday Trading Tips
The key equity averages are likely to open negative as most of the Asian stocks are trading lower following weakness in raw material producers and earnings miss from companies such as Westpac Banking Corp. (WBC) to Chimei Innolux Corp.
The MSCI Asia Pacific Excluding Japan Index fell 1.2% to 496.23 with about three stocks dropping for each that advanced. Further, Japan’s Nikkei 225 will remain closed today. The Shanghai Composite is down by 0.66% to 2,912.82 and Hang Seng Index dropped 0.98% to 23,400.95.
China’s stocks dropped on anticipation that the government will continue to tighten monetary policy to tackle inflation, despite its impact on the economy. Separately, Taiwan Weighted and Seoul Composite are trading lower by 0.51% and 1.03%, respectively. In the domestic arena, the markets are likely to follow the rout of global counterpart and trade range-bound with downside movement. Bankex, Oil&Gas and Auto pivotals will be in focus today.
Previous Session
The Chinese stocks pared its initial gains as tighter bank lending combined with a stronger yuan against the dollar dampened the outlook of the economy. Soon after opening in the negative terrain, the benchmark indices started trading rangebound across the baseline.
However, the sentiment got heavily damaged after the Reserve Bank of India hiked its repo and reverse repo rates by 50 bps each, more than street estimates. The move came in, for tackling the heated up inflation figures in the country.
Investors’ sentiment was hammered as the higher rate increase threatened to hamper economic growth. As a result the rate sensitive sectors like, Auto, Banking, Realty and Metal faced ruthless sell-offs. The lower opening for the European markets further negated the domestic sentiment.
The BSE Sensex closed at 18,534.69 down by 463.33 points or by 2.44% and NSE Nifty closed at 5,565.25, lower by 136.05 points or by 2.39%. The BSE Midcap was at 6,897.34 down by 130.49 points or by 1.86% and the BSE SmallCap closed at 8,435.97, lower by 179.22 points or by 2.08%. The BSE Sensex touched intraday high of 19,024.95 and intraday low of 18,502.42.
On Tuesday, the U.S. markets closed lower as weakness among the energy stocks pulled down the broad market, however afternoon support assisted the major equity averages to trim some of the losses into the close. Trade was generally unimpressive in the morning as selling intensified to take the Nasdaq down by more than 1%.
Further, Akamai Tech (AKAM 33.46, -0.77) and Amazon.com (AMZN 198.45, -2.74) were among the worst performers. Nasdaq component Foster Wheeler (FWLT 34.20, -1.05) also dropped amid news that the oil services company’s earnings was less than the consensus estimate.
Energy stocks were weak across the board and Anadarko Petroleum (APC 78.51, -1.84) slumped even after reporting a stronger-than-expected earnings report. The broad market however managed to limit losses with the support of utilities stocks (+0.7%) and telecom stocks (+1.5%). On the other hand, blue chip Pfizer (PFE 20.44, -0.58) dropped, despite reporting an upside earnings surprise. Its weakness in the Dow was offset by Intel (INTC 23.23, +0.32) and Bank of America (BAC 12.60, +0.26).
In the major indices, the Dow Jones Industrial Average (DJIA) closed with a gain of 0.15 at 12,807.51 while NASDAQ index finished lower by 22.46 points or 0.78% to 2,841.62. The S&P 500 (SPX) closed down by 4.6 points or 0.34% to 1,356.62.
The FIIs on Tuesday stood as net buyer in equity and debt. Gross equity purchased stood at Rs. 1875.30 Crore and gross debt purchased stood at Rs. 1402.30 Crore, while the gross equity sold stood at Rs. 1863.60 Crore and gross debt sold stood at Rs. 983.70 Crore. Therefore, the net investment of equity and debt reported were Rs. 11.70 Crore and Rs. 418.60 Crore.
Top traded Volumes on NSE Nifty – Jaiprakash Associates Ltd. 18132378, Infrastructure Development Finance Company Ltd. 11716905, Sterlite Industries (India) Ltd. 7571181, ICICI Bank Ltd. 6317228, ITC Ltd. 5150840.
On BSE, total number of shares traded was 28.02 Crore and total turnover stood at Rs. 2993.92 Crore. On NSE, total number of shares traded was 62.02 Crore and total turnover stood at Rs. 13258.31 Crore.
On NSE Future and Options, total number of contracts traded in index futures was 758883 with a total turnover of Rs. 20019.45 Crore. Along with this total number of contracts traded in stock futures were 595444 with a total turnover of Rs. 15785.02 Crore. Total numbers of contracts for index options were 4033461 with a total turnover of Rs. 116412.58 Crore. and total numbers of contracts for stock options were 127396 with a total turnover of Rs. 3584.24 Crore.
Today, Nifty would have a support at 5,481 and resistance at 5,581 and BSE Sensex has support at 18,255 and resistance at 18,580.
We can see also in commodity market , now a days it is more volatile . But Trading In Mcx with shyam advisory is very good .
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